If the North Were the South, Same Thing Essay Example for Free

If the North Were the South, Same Thing Essay Ricardo Arjona is one of the most renowned Latin American singers. He is characterized for his socially conscious and heartfelt folk ballads and rock tunes. In addition, he also plays a variety of styles that combine traditional South American folk music with rock, hip-hop, and classical music, Arjona sings about subjects ranging from faded love to social inequities. In 1996, Arjona wrote the song “Si el Norte Fuera el Sur” (If the North were the South), in which he expresses a subjective, yet truthful point of view of what the North American culture is; and how it could change if we exchange places with the South. In this song, Arjona uses many literactully techniques such as irony and analogies; Arjona also adds a type of hardcore rock and an interesting use of the electric guitar. There are many literally elements that this song has, but the main element is the plot or theme of the song, which is pretty straight and to the point. “Si el Norte Fuera el Sur” (If the North were the South)Â’s main plot is a story of how the North could experience all the social struggles that the South Americans countries have to deal with, if as the songÂ’s title suggest “. “Si el Norte Fuera el Sur” (If the North were the South). The main plot is divided into three stages; the first stage is the introduction, in which Arjona gives a subjective opinion of what the North really is all about. Then, he moves to the second stage or the body of the song; during this stage Arjona mentions a series of well known North American personages and situations that help him establish his exchange of geography. Finally, the third stage or conclusion is when Arjona really say what the bottom line of all this is; the fact that nothing will really change. Ricardo Arjona is well known for the rich content of literally elements in his lyrics, especially for the touch of irony and analogies. “Con 18 eres un nià ±o para un trago en algun bar, pero ya eres todo un hombre pa la guerra y pa matar.” (With 18, you are only a boy for a drink in some bar, but you are already a man to go to war and to kill), this is a perfect example of an irony of living in the United States, in which at the age of 18 you cannot legally drink, yet you are allow to receive combat training to kill someone.  In the songÂ’s chorus, Arjona says “al diablo la geografia se acabaron las fronteras” (The hell with geography, there arenÂ’t any borders left), the truth is that borders still exist, but he wasnÂ’t talking about a literally border; Arjona used this analogy to tell us that we are the same and that our geographic position doesnÂ’t mean anything. Ricardo Arjona with his unique style and use of musical instrument; he has put a type of hardcore rock rhythm, which is use to make an impression in his listener. In this song, Arjona utilizes an electric guitar, and a trumpet, with the drums on the back. The rhythm started slow tempo, but strong as if he was upset with the ironies in the North. Then, the tempo began to run faster; the drums and the trumpet were sort of creating an atmosphere of excitement, it makes you feel as if you were a protestant of social inequalities. Finally, he concludes with a slow and heavy electric guitar melody, where he then stop for at least 3 seconds and concludes with the words “Si el Norte fuera el Sur, seria la misma porqueria, yo cantaria un rap y esta cancion no existiria.” (If the North were the South, it would have been the same crap, I would be singing a rap and this song wouldnÂ’t even exist). References http://www.satyamag.com/may03/carter-long.htmlhttp://www.answers.com/topic/ricardo-arjona

Ethics Essay Example for Free

Ethics Essay Businesses are concerned with their company image, breaking of the laws in work related duties and any doing that will involve a law suit against the company. This is mainly their reputation and restoring it will involve a lot of money. To avoid all of this, they adapt a moral behavior in knowing what is right and wrong for the company. Therefore ethics are derived from the moral obligations, profit maximization and in following the laws set. In human ethics, an individual is expected to prevent harm, be fair and just, respect the opinion of others, have a heart for others, to be honest and wiling to comply with the law (Pojman, 2004). In professionalism, there is need for objectivity and impartiality, avoidance of conflict of interest, confidentiality of information, duty of care respected, integrity and full disclosure of information. History of utilitarianism A proposition on utilitarianism lie with Hume but its formulation and understanding credit is received by Bentham. It was incorporated during the 18th century. It was intended to view the principle of utility and the motivation of human beings. They found out that happiness and pain were humans’ utility and that what generates more happiness to many people is the ultimate right. However, having a large number being happy was difficult thus they settled for principle of happiness to represent utilitarianism. Since then, it has been an influence to economics and used to support different political moves. Introduction Utilitarianism is a principle of moral ethics. It supports that a moral right action in a situation is the one that produces more advantages than disadvantages (Buckle, 2007). Many individuals use this type of ethics in daily decisions as it brings more benefits even if lies or manipulation of others were used. It is easily aid sin decision making process. The required courses of actions are identified then their advantages and disadvantages in value are highlighted and lastly the action that generates more advantages is then selected to be morally right. It is characterized by the relevant consequences, impartiality and neutrality of the action as every person’s happiness is counted the same. The act and rule utilitarianism are its types and have been competing on which real should be followed. In act, what benefits the people more is the right morals despite their different feelings. However, the rule type acknowledges the justice, fairness and benefits a large number of people. Therefore the rule values the people feelings, their laws and the benefits. They both have problems in comparing the exact consequences value in money and happiness since they all differ. They believe in obligation to the society and not the act of being a heroine. Since it is consequences on choice, they tend to predict the future. However, act type will be favorable to one today and may be unfavorable the next day. The rule type on the other hand, is very instable on what is actually morally right. Utilitarianism can be objective in supporting the effect that the rightness of an activity is whether it would indeed encourage and promote the goodness of the already available acts to the agents. On the other side, it can take the form of subjective utilitarianism. It involves that when choosing an activity one should first determine which activities of those available would mostly promote the good more than the others, then chose that activity. Critics against utilitarianism It is difficult t assign value in money form to certain items and acts such as human life, happiness, pain, pleasure and more feelings (Pojman, 2004). They could be representing opposition’s ideas in the sense that someone’s pleasure could be another individual’s pain. This does make the comparison of values difficult for a person to choose what action will give a high better pleasure. The benefits and costs value may be underestimated or overestimated. This principle violates the human conscious acts and the different personal ideas in interest of more valuable advantages of an action. It’s like it gives us permission to do harm but specifically little harm in order to gain. In protest then, little or more harm is still harm, it never changes. Lying for the sake of saving more benefits represents an injustice to human kind. It does not promote justice but rules in favor of injustice. It is difficult to know how right an action is when the law seconds some offences committed with the excuse of the principle of utilitarianism. It does not follow the law guide thus can at all times be interchanged to commit evil. The integrity, reputation and image of a person are lost with utilitarianism ethics. The consequences of a lie for the sake of creating more profits to a company, kills the integrity that was taught of being present. Maintenance of reputation is not easy and therefore loosing the little you have will mean a slow start in creating another image. It does not encourage creativity and development of products and services as it tends to cut out considerations of new ideas generation. To other individual this is a difference making on what and how they feel. They argue that each one is responsible for what hey do and not the value of how they do it. An individual might be creative and willing to undertake his idea a step ahead and fulfill it, may not succeed at all if the majority umber do not support his idea. Therefore, a chance of having had to grow an idea in other people no matte how good it would have been, is lost because of this system. It relies entirely on a single principle of ethics thus an action committed could either produce best or worst consequences despite the argument that it will provide more benefits. Different principles in deciding what is right or wrong have to be used on a single action so as to make the solution effective and efficient. It uses the human being as means to an end of suitable action by only considering happiness and equating it as the main pleasure of a person. By only counting happiness, it encourages individuals to do the right things for an entire wrong reason. After all, they can justify the evil doing as their happiness. The theory also concentrate on a belief that human are common in nature thus desires same things. It discourages the individual’s tastes and preferences. Some people even appreciate more things than others who do not even take an account of the thing presence. Humans are very different in personalities and their goals also differ. Grouping them a sonly one group of nature, is not justice and happiness at all. It does not take into considerations the potential intention of an individual in carrying out an action. An individual could be fulfilling his evil motives on an individual but ends up defending himself using the utility benefits thus being set free and innocent. Every action should be accounted for legally so truth of right and wrong could be identified. A person stealing money and justifying it that it was to be used for a sick person medical expenses, might b lying or not. He might be a thief in the making. Critics in support of utilitarianism In human moral life, majority value the self sacrificial factor and happiness. Utilitarianism supports these morals in their decisions as some are sacrificed and the happiness of the people affected by the consequence mattering a lot (Mayer, 2009). An individual known for self sacrificial mostly promotes peace, loyalty and unity. If an organization is willing to sacrifice some items for the entire society benefits, it is received well and brings happiness which is the goal of utilitarianism. It promotes equality, impartiality, fairness and neutrality in all its decisions (Buckle, 2007). This is because to them no one deserves special treatment at the expense of another as they are all equal. A decision is basically made from everybody’s point of view with consideration of the majority. If the majority needs a company closed down, then that percentage would be a representation that every individual of that area wants the company closed. The consideration of the outcome of an activity is important. This theory is in support of knowing the consequences first before undertaking an action. The consequences received should be of great value that would not contribute to pain but joy. These would prepare the users to face the outcome with an open mind as they had been expecting it. They could be outcomes based on researches or people personal experiences. In addition, it aids in future planning of activities leading to enhancement of efficiency. This system is straightforward and direct in evaluation because it conveniently uses one denominator in its evaluation calculations. Therefore, it becomes easy in resolving conflict interests for straightforward answers to the decision. An easy way to resolve things is many people choice as many of them understand it, support it and ready to conceptualize into their daily activities. This ensures less money and minimal time spent in evaluations process. Nietzsche on ethical concept, background and theories He explained that the existence of structure theories is as a result of leaders who dominate their decisions over others. He argues that it is through self consciousness that one can determine the evil and the good with its both doers. He did not support the utilitarianism principle of ethics and argued that it placed too much emphasis on the large numbers of people instead of an individual that his personal welfare is lost to the general crowd. In addition, his other reason was that humans do things just to survive in this world even if they were unpleasant or unhappy. Utilitarianism show there is a wrong and a right but according to him this are the terms men use to interpret a situation or experience. He believes human will be motivated by to many thing snot only pleasure, happiness and pain. Aristotle ethical concepts, background and theories He showed that conduct depended on the role of an individual habit. He said that it was in between pleasures and pain that allowed one to choose which indeed was right or wrong. Being a business minded person, he advices that the root to fairness, justice and happiness is in asking questions. He does not uses utility in his work but stresses that the behavior of a person is what is reflected on his performance and goodness, thus supporting the theory of virtue of ethics and not consequences (History of Utilitarianism, 2009). He campaigned that happiness of a person could only be known after his life and thus could not be short termed using utilitarianism. Conclusions Utilitarianism should take into account that not only making people happy is a pleasure but also involving one in the success of the project, institution, a career and a cause to ensure that they are committed. Many people though support it because it is easy to use, they have practice of using it daily and it tends to avoid the divine revelation of living morally but outside the belief in a supernatural being. A person deciding should include other principles and theories of ethics that are likely to affect an action and determine if they are right or wrong. They could use principle of; virtue, moral right, egoism, deontological, justice and fairness and their emotions reflected in their feelings. This would give a wide reflection balance of the choice picked. In all the actions an individual undertakes from a selection, he should first weigh their goodness and badness and not necessarily through its money value alone. One should be able to know how the action would affect him, the law and the society. An evil action such as killing a corrupt leader for money should not be justified that it made everyone evil that had fallen into his corrupt evils.

BIM Fine Management Perspective

BIM Fine Management Perspective Under the current development trend of BIM fine management Perspective Keywords: Fine perspective, trends, BIM, model building and analysis. Abstract Corporate Training is well planned and organized and implemented a systems engineering needs. The application of the refinement of management thinking to corporate training work, training can effectively improve the quality and reduce the cost of training. This article is the idea of fine management application to build enterprise training system, so clear responsibilities, standardize processes, improve the system, strict implementation of effective monitoring, rapid and timely corrective feedback to ensure that the training implemented. Our brief case BIM applications China, summed up the Chinese scholars to address the many recommendations hinder BIM application. Applied economics principles and methods of analysis of hazards and their impact on the external application of BIM BIM applications. Establish a complete information dynamic game model between government and enterprises, and study the economic incentives BIM applications. Suggested that the central government should take a supply-side oriented, incentive parallel, phased BIM application of economic incentives to achieve different participants at different stages, using different economic incentive programs. Introduction The development of technology for building information modeling (BIM) and the application in the civil engineering industry, prompting BIM technology and software into the university classroom to meet the needs of the industry. Our school of civil engineering professional use task-driven approach, innovation in undergraduate training programs, participate BIM class competition, graduation design teaching introduced BIM technology, guided independent learning BIM family of software, and achieved good results. Based on the above procedure Seeing discussed BIM technology in civil engineering teaching. Building Information Modeling (BIM) is based on the relevant information and data as a basis for building projects model, building model were established, and true information through digital information simulation building has. It has visualization, coordination, simulation, optimize and may be showing of five characteristics. BIM technology to promote a model using digital technology to achieve a new concept of the project life-cycle management, and its advantages in intelligent, digital information models and associated terms for all parties involved in the construction project has created an easy exchange of information platform, thereby increasing productivity in the construction industry. In recent years, BIM technology has been in the construction industry in a wide range of applications, and achieved good results in the construction of demonstration, collision detection, construction management and other aspects, and to some extent, shorten the construction period, reducing t he project cost and improve quality of the project is a new trend in the future in the construction industry With BIM technology in China to promote the construction industry, many colleges and universities are involved in the teaching and application of BIM technologies. The largest 2D and 3D design and engineering software company Autodesk (AUTODESK) in the country trying to promote its BIM software such as Revi t, Navi swork. Our school in civil engineering specialty teaching task-driven approach undertaken by BIM application of innovative undergraduate training program, to encourage undergraduates to participate in structural BIM series of competitions, such as the Revi t cup, cup Brownsville, in the Graduation Project the introduction of BIM, etc., to stimulate student interest, guided independent learning BIM software combined with the professional be applied. In the professional conduct of the past three years, the effect is more obvious, won the second prize Brownsville Cup Group Beijing structural competition first prize. Graduation design, BIM-related topics reached more than 50%; innovation in the training topics, BIM topics more than 30%; and so on. Students study and application of BIM and BIM software category awareness has been greatly improved. But also shows some shortcomings, we have relevant teaching experience, explore BIM technology Civil Teaching Status and recommendations. The Proposed Methodology Training enterprises to strengthen fine management significance Improve the quality of training. By training in every aspect of the implementation of place, so that demand training, combining theory with practice, so as to improve and enhance performance, ensure the quality of training.   Reduce the cost of training. Through the training process of standardization and refinement of management, can be done to discover and solve problems, to avoid unnecessary losses occur, thereby reducing costs. Effective integration and use of training resources. With careful planning and planning training programs, the development of scientific and rational, workable plan that can effectively utilize and integrate internal training resources. Timely discover and solve problems. Through the whole training process monitoring and control, timely detection of problems in the training process, and to solve their problems, to ensure that training can be completed as planned, and to ensure a certain quality. Connotation fine training system.  Meticulous management thinking, the earliest dating back to the early 20th century, scientific management theories of American father of scientific management Taylor founded. Taylors scientific management thought all reflect the attention to detail, emphasizing every detail of the specification, so that the details of the control, permeated with the refinement of management thinking. After World War II, with the expansion of business scale, the increasing complexity of production technology, product replacement cycle is shorter, more productive collaboration requirements. In this case, the business management of a more refined requirements. The birth of lean production and lean thinking to the formation of meticulous management thinking has epoch-making significance. Meticulous management is a management concept and technology, through systematic and refinement rules, the use of procedures, standardized, data and information and the means to make the organization and management of each unit accurate, efficient, coordinated and continuous operation. Meticulous management is based on the conventional management of a management model. Fine management emphasizes attention to specific work process in a series of details; grasp the key details, important details as the focal point; increase the execution of the organization to ensure the smooth realization of organizational goals. Thus, content management is reflected in the fine attention to detail, standardize processes, strictly enforced to ensure the quality, cost and other aspects, emphasizing accountability, procedural norms, institutions effective implementation in place, the end of the inspection and timely correction. The use of refined management thinking to build enterprise training system to go is fine with the idea to organize the implementation of corporate training, attention to detail control. Specific ideas is the person responsible for the training of the gang, refine, quantify, clear job responsibilities, standardize work processes, clear and specific task, improve the training system to ensure the effective implementation and monitoring of the training. BIM disadvantage. Implement building information models need to use software such as Revit to achieve, but it is a large integrated software, Revit now just emerging when the universities can not offer relevant subjects, students can only lead to self-study books through the video, which gives students bring pressures and difficulties. Building information modeling is a big macro concept, which involves all aspects of things, for the students, but also their relative lack of expertise, lack of awareness is still in full professional stage. Some students focus on using some of the more unusual features to attract the teachers attention, to conceal the nature of the problem and show understanding, which is not conducive to students rigorous and correct the habit of thinking. There is no doubt that students know BIM is important, but it is recognized only remain in the operational know-how, in order to raise the stakes in the primary stage of employment for BIM in the actual project how to effectively apply in order to achieve efficiency savings of lack of reasonable understanding . Take appropriate teaching methods to enhance the students understanding of BIM and guide students to think about how to apply BIM today is the most pressing issue. Corporate Training System meticulous management from the Perspective of. The application of meticulous management thinking to build enterprise training system, and mainly from the following aspects. The gang attended. Training can be either an independent business function, it can be in terms of human resource management and development of a core function. In the United States, as early as in the late 1970s it had already begun the training and development department set up as an independent movement. The first people to pursue the principle of South Koreas Samsung Group, as early as 1957 that is set up its own training center, who once hired, it is necessary to invest a lot of capital for training, or can not posts. One of the essence of refined training system is designed to be used by the person responsible for post training, thinning, quantification job responsibilities management training, training managers a clear selection criteria. If you reach a certain scale enterprise development, the need to establish an independent training institutions or departments to undertake this function. Analysis of training needs. The success of the training, to a great extent depends on the accuracy and validity of the demand analysis. Training needs analysis from the general organizational analysis, job analysis, personnel and other three levels of analysis. The development of training courses. Corporate training curriculum development is a complex and detailed system engineering. Since the training requirements of enterprises with strong relevance and practicality, category-level training object is very complex, and the lack of suitable training materials on the market, therefore, the development of training programs with a certain degree of difficulty. In fact, the quality of curriculum development depends on the level of trainers. Training trainers internal trainers often targeted according to the specific situation of enterprises curriculum development, so as to stimulate the enthusiasm of staff and participation in training lectures enthusiasm, not only effective, but also eliminates the need for high training costs. For internal trainers Training should focus on two aspects of knowledge and skills. Although they have some of their own expertise and experience, but for the curriculum to be taught, or need to re-sort system, and prepare a standardized instructor, student manual. At the same time, they want to carry out specialized training on instructor skills, multiple lecture, and let the experienced lecturers guide and on-site reviews, and finally to an independent school. Therefore, the internal trainers training and selection is a process of. Condition Training of project implementation support. In order to make the effective implementation of the training program, in addition to working to ensure that all aspects of the process in accordance with the strict implementation of the provisions, but also the need for other security conditions. Establish a scientific, comprehensive training system is the basis for effective training management, and provide support for the overall operation of the training system. However, as a management system, enterprises should combine their actual situation of the development of the training system. Enterprise training system generally includes a new system of employee orientation, training, organization and management system, training evaluation systems, training reward system, training in risk management system. Training preparatory work. Training managers the best preparation for a job list, itemized inventory control check the progress of the preparatory work, to avoid missing. This phase of work include: print a list of participants; training written notice issued; notify specific training time and place; check that the training venues and equipment; posted a good seat label; meet with trainers, training programs and communication to confirm the contents; preparation Participant Manual or buy textbooks and materials; printed sign-in sheet, questionnaire, assessment papers, graduation certificate. When summing up the work end of the course. Summarize the occasion of completion of the course is to start in the future to continue to learn, therefore, to assist instructor training managers do review and summarize the knowledge to help students design lecturer subsequent learning goals, learning methods and ways and give guidance. Training effectiveness evaluation refers to the results of training to collect data to measure the effectiveness of the training process. Although the whole process from the point of view of training, training effectiveness evaluation last link in the training, in fact, to assess the effectiveness of training throughout the training process. Because the analysis to determine training needs assessment is inseparable from the effectiveness of training, training objectives and the results of training in information collection and other aspects of the training process. Specifically, the process of training effectiveness assessment include: goal setting training evaluation; the development of assessment programs; collection, analysis, assessment of the required raw materials. Conclusion BIM is a cutting edge of technology in the construction industry, which can be architectural design, construction management, and operations and so on throughout the life cycle well integrated together to facilitate the stakeholders in different stages of the project from the outset involved, greatly promoted the construction efficiency savings. As a new generation of professional civil engineering students to master BIM technology is necessary. It should be noted, BIM civil engineering in university teaching and professional practice in the application have been some development, but there are still a lot of work worthy of our university teachers to think, to explore.

Transformations in Ovids Metamorphosis Essay -- Ovid Metamorphoses Es

Transformations in Ovid's Metamorphosis Transformations from one shape or form into another are the central theme in Ovid's Metamorphoses. The popularity and timelessness of this work stems from the manner of story telling. Ovid takes stories relevant to his culture and time period, and weaves them together into one work with a connecting theme of transformation throughout. The thread of humor that runs through Metamorphoses is consistent with the satire and commentary of the work. The theme is presented in the opening lines of Metamorphoses, where the poet invokes the gods, who are responsible for the changes, to look favorably on his efforts to compose. The changes are of many kinds: from human to animal, animal to human, thing to human, human to thing. Some changes are reversed: human to animal to human. Sometimes the transformations are partial, and physical features and personal qualities of the earlier being are preserved in mutated form. In the story of Daphne and Apollo, the chief agent of transformation is love, represented by Venus and her youthful and mischievous son, Cupid. When the god Apollo brags to Cupid of his great might exemplified by his defeat of the python, Cupid humbles him by reducing the great god to a shameless lover with his gold-tipped arrow of love. A transformation of sorts takes place when the Cupid's arrow strikes Apollo. Apollo transforms from a bragging God who claims superiority over Cupid by saying, 'You be content with your torch to excite love, whatever that may be, and do not aspire to praises that are my prerogative,';(p. 41) to a man possessed by desire. Despite his powers of strength and domination, the God of War is humbled by Love. A lesson is being taught to Apollo by Cupid. A weakness is spotlighted and exposed, and the role of Apollo is almost completely reversed. He is transformed from a figurehead of power to a crazed lover with no power over his love. Just after shooting Apollo, Cupid strikes Daphne with a blunt, lead-tipped arrow intended to put love to flight. The first transformation of Daphne occurs at this point. Not by her own choice but brought upon by the arrow, Daphne no longer is interested by the prospect of love. Although no physical changes take place, the character is obviously different than previous to being struck. At this point, Daphne and Apollo have both been transformed to t... ...ses may be read and interpreted separately, taken together rather than apart, the stories can be more effectively linked. The use of repetition throughout the work and constant symbolism in each tale help connect the stories. The entire work is in poetic form, and the literary techniques used are consistent with the time period. Common symbols are used throughout. A common motif is the stretching out of arms preceding metamorphosis. Also, the imagery of hunting coincides with that of sexual passion. Daphne is a huntress and is associated strongly with the forest and nature. It is fitting then that she is the character pursued by Apollo. The vocabulary of hunger and thirst, or devouring and drinking are associated with acts of violence. The constant repetition and the imagery in Metamorphoses are key to interpreting what Ovid is trying to convey to the reader. The power of change is the central issue in each story and in all the stories combined. Change as a vehicle of escape, pun ishment, or any means to an end is apparent in virtually every story in the book. Works Cited Mandelbaum, Allen, trans. The Metamorphoses of Ovid. By Ovid. San Diego: Harcourt Brace & company, 2008.

damnation :: essays research papers

Ruining The Grand Places â€Å"†¦ It is apparent, then, that we cannot decide the question of development versus preservation by a simple referral to holy writ or an attempt to guess the intention of the founding fathers; we must make up our own minds and decide for ourselves what the national parks should be and what purpose they should serve.†-Edward Abbey, Desert Solitaire â€Å"†¦ The difference between the present reservoir, with its silent sterile shores and debris-choked side canyons, and the original Glen Canyon, is the difference between death and life. Glen Canyon was alive. Lake Powell is a graveyard.† – Edward Abbey, â€Å"The Damnation of a Canyon†, Beyond the Wall When you love the Desert Southwest, sometime, somewhere, you will stumble into the writings of Ed Abbey. Like me, Ed was not born there; he discovered his love of the place while riding a boxcar through it on a trip across the US; I discovered mine on a trip through myself. His writings helped lead me home, for that is what the desert southwest is to me: home. I don’t live there for one simple reason, i.e., I have not yet been able to put myself in the financial situation I need to be in. For now, I visit when I can, mostly during my long vacations at Christmas. A couple of years ago during one of those, on a whim after spending a few days in Arches National Park, my wife and I detoured to the snowy, icy south rim of the Grand Canyon. We journeyed toward it from the east side but got turned back at the National Parks’ gate; the road was snowed under from there on up. After retracing our steps, we traveled down to Flagstaff and spent the night, driving in my four by four truck up to the South Rim the next day. It was an eerie experience to stand on the edge of the South Rim and see only cloud; fog shrouded the canyon’s great gap, leaving us with visual doubts that anything was really there. Defeated, we hit the Visitor’s Center and gathered information so we could go back sometime in the spring or fall with weather more to our liking. We haven’t done that, yet. This year we had planned to take a guided river run down the great Grand Canyon. Right now, that probably is not going to happen, either, due to other family obligations that eat vacation and other financial priorities.

Rock and Roll in the Early Fifties Essay -- Music Art Musicians Rock a

Rock and Roll in the Early Fifties Hail, hail rock ‘n’ roll, Deliver me from the days of old. Long live rock ‘n’ roll The beat of the drum is loud and bold, Rock, rock, rock ‘n’ roll, The spirit is there body and soul.† - Chuck Berry (Hibbard and Kaleialoha, 19) An African- American euphemism for making love, rock and roll spurred from all genres of music, but mainly that of folk, country, jazz, pop and rhythm & blues (Yorke, 11). It is a type of music that generally involves heavy pounding of the piano, a loud drum beat, saxophone backgrounds and boisterous shouting by the singer. It was a new blend of music emerging from 1948- 1951 as a result of a generation’s need to express their own identity. Originally, rock and roll was performed by black artists because it was a result of the incorporation of a more upbeat background to rhythm & blues. Examples of such artists would be Little Richard and Chuck Berry; both were coined â€Å"the fathers of rock and roll† even though they started out as rhythm & blues artists (Szatmary, 16). In context of â€Å"Cat on a Hot Tin Roof,† the characters most likely to support rock and roll are Maggie, and Mae’s children. This new upbeat, new- age, gibberish was a sy mbol of independence, escapism, and rebellion for youths of the early1950’s (Brown, 4). Although its initial peak of success occurred in 1956, rock and roll had been developing since 1951. The introduction of the 45 rpm disc, transistor radio, and television; and finally, its lively, upbeat sound all contributed to the success of rock and roll(Peterson, 102- 104). The â€Å"baby boomer† generation after the Second World War, was a major influence on the success of rock and roll. Unlike their parents, this g... ... Roll. New Jersey: Prentice- Hall Inc., 1996. This book provides a very detailed outline on how and where rock and roll originated. It places much emphasis on the transition from Black to White rock artists and how society reacted to this change. Szatmary also presents sufficient information on the many aspects of rock and roll, ranging from what the lyrics are about, to the beginnings of rock and roll and new age rock. - Yorke, Ritchie, Rock- The History of Rock’n’Roll. New York: Methuen/ Two Continents Publications, 1976. In Rock- The History of Rock ‘n’ Roll, Yorke provides a chronological approach to rock and roll from 1877- 1974. Although it is not extremely detailed, a general overview of each year’s music is presented. Throughout the book, many descriptive summaries of individual artists may be found along with classic pictures.

Jk Cement Research Report

Indian Institute of Management, Bangalore PGP Program Term 1, 2012 Final Report for JK Cements – Group 2 Section 1 Business Description: JK Cements is one of the largest cement manufacturers in Northern India and the eighth largest overall India with net cement sales of 2545 crores in 2011-12. Itsmain productsinclude grey and white cement. It produced 53. 2 lakh tons of grey cement and 3. 77 lakh tons of white cement in the financial year 201112. Grey cement produced consists of Ordinary Portland Cement (â€Å"OPC†) and Portland Pozzolana Cement (â€Å"PPC†). Their cement products are marketed under the brand names J.K. Cement and Sarvashaktiman for OPC products, J. K. Super for PPC products and J. K. White and Camel for white cement products. JK Wall Putty and JK Water proof are its white cement based value-added products. Housing (74%), infrastructure (17%), commercial & institutional sector (13%) and industrial sector (6%) are the major customers of the cement industry [Refer Figure 1]. Housing constitutes a major chunk of the demand and hence rural and urban housing projects are a key resource generator. Key stock statistics and revenue/earnings data is included in the appendix [Refer Tables 1& 2]Section 2 Market Profile, Competition, Strategy, Risks A. Market Profile: The demand for cement mainly depends on the level of development and the rate of growth of the economy. The major demand drivers for the cement sector in India are housing, infrastructure and commercial construction. These are key components of the country’s GDP and hence, the average growth of the cement industry is approximately 1. 2 times the GDP growth. Significant impetus to both rural and urban housing as per capita income increases in a major driver of the industry.With the increase in national infrastructure investment, the industry is poised to expand further in spite of the worldwide economic recession. The housing sector contributes around 64% of the tot al cement demand. It also accounts for 80% of the total real estate developments in the country. Housing demand is expected to be robust backed by various measures adopted in the budget like continued interest subvention up to 15 lacs, exemption from service tax for low cost housing construction, and increase in investment-linked deduction of capital expenditure on low-cost housing from 100% to 150%.There has been a major push by the government in infrastructure development with the intended investment being US$ 1 trillion in the 12th five year plan period (2012-17), against an investment of US$ 514 billion in the 11th five year plan period. Massive investment in infrastructure would provide boost to Indian Cement industry. India is the second largest producer and consumer of cement in the world, accounting for 7-8% of the total global production with an installed capacity of over 300 Mtpa at the end of 2011-12. India’s cement industry performed better in 1 011-12, on back of robust demand revival in the second half of the financial year. The industry grew by 6. 4 per cent in 2011-12 as against less than 5 per cent in 2010-11. Total cement sales were 223. 02 MT compared with 209. 5 MT in FY11. For 2012-13, CRISIL Research estimates cement demand to increase 7-8 per cent yoy (Crisil). In the near term, demand could be a little weak because of the lower GDP growth. Given that a large part of the demand comes from the housing sector, high interest rates are not conducive to the urban real estate demand. However, in the long term, the industry is expected to grow at an average of 1. times the GDP growth rate. Growth rates of 8-9% can be targeted for the five year period given the increase in investment in infrastructure projects and increasing rural demand. Although India is one of the largest cement markets in the world, per capita consumption of cement is still low as compared to the world average as well as that of other large countries such as China and US. The Indian cement industry, thus, has a huge growth potential. Given the intense shortage of housing, this segment has been a major growth driver for the cement industry.The demand for residential real estate has only increased, fuelled by increasing urbanization, rising income levels, decreasing household sizes and easy availability of home loans. Bulk of the total shortage of 74 million units at the end of the 11th Five Year Plan (2007-2012), is expected to be generated by rural and below poverty line households. The government has launched various initiatives such as NREGS and Indira AwasYojana to improve rural income, which may increase demand for rural housing in the country. Increased infrastructure investments by the government as mentioned earlier is also likely to be a major growth area.Housing (74%), infrastructure (17%), commercial & institutional sector (13%) and industrial sector (6%) are the major customers of the cement industry. Housing constitutes a major chunk of the demand and hence rural and urban housing projects are a key resource generator. Overall industry margins and change in sales trends are mentioned in tables at the end. [Refer to Table 3 & 4]. Please refer to Table 5 for a picture of the industry growth rate based on the Free Cash Flow model where the average P/B was computed with the top 5 firms of the industry and different rates for cost of capital were assumed.This shows that the cement industry is poised for growth for whatever cost of capital that may prevail. B. Competition: Inter firm competition and rivalry in the industry is high. Large number of players, intermittent overcapacity, marginal product differentiation, high storage cost and high exit barrier in form of significant capital investment has led to high competition in the industry. Threat of new entrants is limited since it involves high capital investment, broad distribution network and oversupplied markets deter new entrants.However, given the high potenti al for growth, quite a few foreign transnational companies have made acquisitions and increased their stake in domestic companies to gain full control. There are no good substitutes for cement popular in India. However, there are eco friendly substitutes for cement which include fly ash and slag. Fly ash is the by product when coal is burnt to make electric power and slag is created when producing iron in blast furnaces. Coal fly ash, blast furnace slag and other mineral admixtures can substitute for cement, aving energy and reducing cost. Bitumen in roads and engineering plastics in building are some element of competition. Currently, the top players – UltraTech, ACC, Ambuja Cements, Jaiprakash Associates, India Cements and Shree Cement, collectively control more than half of the cement market in the country. Overall, there are 40 players in the industry across the country. (Source: ibef. org) The closest competitors for JK Cement are Shree Cements, Madras Cements, Birla Cor poration and Binani Cement. The industry has a 4-firm concentration ratio of 58. 18%. 2 C. StrategyDespite challenges, JK Cement has increased revenues and profits owing to higher realisation and volumes in both grey cement and white cement business. The company is in on its way to expanding its capacity in India to cater to the increase in cement demand. It has also diversified its product portfolio by not only limiting itself to varieties of grey cement but also extending to white cement and other value added products. Besides, the Company is also setting up a grey cum white cement plant at Fujairah in UAE to cater to GCC and African markets. The company is making efforts to reduce operating expenses which in turn would increase the ROE.Some of the efforts to reduce operating costs are: Grey Cement †¢ Implementation of CII Audit findings in phased manner to reduce power consumption. †¢ Installation of VFDs in fans to save power. †¢ Replacement of booster fans by hig h efficiency fans to save power. †¢ Installation of pfisterpump for coal firing in calciner. †¢ Replacement of Raw mill -1 separator by high efficiency separator. †¢ Dynamic separator in Coal Mill. White Cement †¢ Covered clinker storage facility for grey and white clinker. †¢ Grinding plant for dolomite for putty product. †¢ Installation of new SG Fan & Driver. The company is also making efforts to increase its capacity.The company is revisiting the size of proposed expansion plan at Mangrol, Rajasthan from earlier envisaged 3. 5 Million Tons to around 2. 5 Million Tons, on account of delay in allotment of new mining area to the Company. Viability study for 2. 5 Million Tons capacity plant is under preparation and a final decision will be taken during the course of the year. D. Risks Three most important risks: 1. Sustained economic slowdown The growth of cement industry is directly proportional to GDP growth rate. Absence of decision making at Governm ent level is affecting economic growth and may have adverse effect for the cement industry.If measures are not adopted against inflation, high interest rates, depreciating rupee, then it would impact the overall economic growth of the country resulting in dragging the sector down. 2. Unavailability of coal linkages Coal costs constitute 14-23% of cost of production of cement. The hike in coal prices is expected to hit the margins. Due to reduced supply of coal linkers from Coal India over the years; the company has to import coal at higher costs from South Africa and Indonesia. The depreciation of the rupee will also add to the increased cost of raw materials. 3.Adverse demand-supply mismatch In case, the additional capacities get commissioned ahead of schedule, then a state of oversupply would rise, consequently prices may head downwards and the sector may suffer a severe blow. Section 3 3 Trend Analysis The demand for the cement mainly depends on the rate of growth of infrastructu re, housing and commercial construction. In Indian context all these areas have been experiencing a significant growth as a result of constant growth in our GDP. As a result we can see that overall the total revenues for both the companies have been rising [Refer to Figure 2].JK Cement and Madras Cements basically cater to northern and southern India respectively. In year 2011, there is a dip in the total revenues of Madras Cement. This was result of a more acute fall in the capacity utilization observed in southern India due to low demands because of political instability in Andhra Pradesh and minimal pick-up in demand in Tamil Nadu and Kerala post elections. The two industries exhibit comparable trend as far as profit margins are concerned [Refer to Figure 4]. So, an overall analysis of cement industry in this period is required.In 2008, the dip can be attributed to reduced demands due to global recession, which reduced capacity utilization thus reducing profits. In 2011, there wa s marginally poor off take in cement demand due to passive construction activity, which lead to excess supply and utilisation fell to a 13-year low of 83. 9% for 2010-11. This has been coupled with rise in input costs, especially prices of coal and petroleum products. As a result, both the top line and bottom line have been affected. Hence this year the capacity utilization increased and the demand dropped. Section 4 Ratio Analysis [Refer Table 6] . Return on Equity : [Refer Fig. 5] ROE has been hovering around 17-20% throughout with some years seeing slight changes. Given that Index of Industrial Production(IIP) grew only by around 2. 8%, it appears that JK and Madras have both done well. However, 2010-11 was a bad year for JK Cements. Their Net Operating Profit plummeted by 39% when compared to the previous year while the same for Madras Cement was only around 27%. This was mainly on account of reduction in sales realisation and substantial increase in the prices of petcoke and fu el resulting in higher input costs (Annual Report 2010-11).This caused the ROE of JK to fall by almost 600% from the previous year. 2. Basic DuPont Model Analysis : [Refer Fig. 4,5 and 6] ROE = Asset Turnover * Profit Margin Asset Turnover of JK is consistently higher when compared with Madras Cements – 42. 46% higher in 2006-07 while this is 39. 87% in 2012. This is because JK’s total fixed assets is lesser than Madras’ by almost 50% while sales of Madras Cements is higher only by around 2025% on an average . However, the low profit margin throughout has been causing the Return on Equity of JK to be lower than that of Madras Cements.The profit margin has been very low in all the years from with the worst hit being in 2011 – reason explained in step 1. Also the Net Financial Rate has dinted the net profit due to expansion efforts coupled with the dim outlook in the industry. A ray of hope for JK would be to perform product differentiation with the white c ement – wall putty market ; it has done right by expanding the white cement units in overseas ; the demand for interior and decor is bound to increase in the near future. 4 3. Advanced DuPont Model Analysis with RNOA & Leverage : [Refer Fig. & 12] It can be seen that the Operating Spread of JK is going negative for 2010-11 & 2011-12 showing that their Financial Rate is on the rise which is due to debts from increased expansion plans. This, along with the increased leverage from high borrowing, has reduced the already low RNOA to yield a poor ROE value. In the same while, for Madras Cements the spread has been positive – in fact, it has never gone negative for them, despite their large debt. Madras Cements has been affected only by the overall increase in costs in the cement industry and not by the leverage effect which JK has suffered from.The leverage effect has beaten JK again in 2011-12 ; though their RNOA has increased by 177% from the previous year and long-term d ebt has actually reduced, the Interest Rates on loans have seem to have gone up – leading to a 117% increase in the NFR. Thus the negative operating spread has again caused JK’s ROE to fall below the RNOA – Madras Cements has remained stable in this period – registering a higher ROE than RNOA due to the positive spread. Again, this shows that Operating Margin of JK is low when compared with the cost of capital. 4. Analysis of Turnover ratios [Refer Fig. 9 & 0] Inventory Turnover and Debt Turnover of JK is considerably higher than that of Madras Cements leading to a better operating cycle. Low inventory holding and low receivables isa positive trend for JK Cements and it should continue this. 5. Analysis of Liquidity and Long-term Solvency : [Refer Fig. 8,11] The Quick Ratio of JK is consistently higher than Madras Cements for all the 5 years taken into consideration – hence the liquidity position of JK is better than that of Madras Cements. The cap ital structure seems more of debt financing in the recent years – owing to expansion plans.However increase in interest rates would make JK vulnerable to low margins which is already discussed in the advanced model. Section 5 – Conclusion – – – The cement industry is estimated to grow as can be seen from the CRISIL analysis quoted in section 1; housing and infrastructure demand are expected to increase – hence JK is bound to do well The cost reducing efforts of JK and the product differentiation into white cement are expected to increase profit margins. The Asset Turnover values of JK are also higher than its competitor. Hence increase in ROE is expected in coming years.The reduced operating cycle of JK shows a positive trend vis-a-vis its competitor. P/B value of JK is 1. 18 while industry average (top 5 firms) is 2. 76 (refer to table on Growth of Cement Industry). Hence JK stock seems to be undervalued [Refer Table 5] JK has declared 50% dividend for the current year and has consistently declared dividend for the past 5 years. However, the inherent risks in the industry – from global crises like the Euro crisis and flagging coal availability pose concerns for the successful implementation of plans.Further, the continuous expansion plans of JK leading to higher debt and hence higher interest rates (which can rise based on RBI measures to contain inflation) cause concern for the profit margins which can again reduce. The positives seem to be strong as JK is trying to stabilize its expansion plans. Hence an acute negative view point would not be correct. Hence we suggest a buy/hold after doing the above analysis. 5 References : – Crisil. (n. d. ). Retrieved August 21, 2012, from Crisil Web site: crisilresearch. com – Dion Insight. (n. d. ). Retrieved August 21, 2012, from Dion Insight Web site: https://insight. ionglobal. in/Insight/Industry. asp? pageLink=IndProfile&Ind=151 – equitymaster. com. (n. d. ). Retrieved August 21, 2012, from equitymaster. com: http://www. equitymaster. com/research-it/sector-info/cement/Cement-Sector-AnalysisReport. asp – Gupta, N. (n. d. ). Ernst & Young. Retrieved August 21, 2012, from Ernst & Young Web site: http://www. ey. com/Publication/vwLUAssets/cementing_growth/$FILE/cementing_growth. pdf – India Brand Equity Foundation. (n. d. ). Retrieved August 21, 2012, from India Brand Equity Foundation Web site: http://www. ibef. org/industry/cement. aspx – Jagdesh Sunku. 2006). Advantages of using fly ash as supplementary cementing material (SCM) in fibre cement sheets. 10th Int. Inorganic Bonded Fibre Composites Conference, (pp. 25-32). Sao Paulo. – JK Cement Annual Report 2010-11 & 2011-12. JK Cement. – moneycontrol. com. (n. d. ). – PlanningCommision. (n. d. ). Planning Commission. Retrieved August 21, 2012, from Planning Commission Web site: http://planningcommission. nic. in/plans/mta/11th_mta/c hapterwise/chap14_invest. pdf 6 Appendix A Division Figure 1: Division of customers of cement industry into major sectors Major Major customers of cement industryCommercial & Institutional 13% Industrial 6% Infrastructure Infrastructure 17% Housing 64% Figure 2: Total revenue for JK Cement & Madras Cements Ltd. (Revenue in crores)(Before 2005 financial financial statements for JK Cement wasn’t prepared. It was then treated as a division under JK Groups for financial purposes) Total revenue 3,500. 00 3,000. 00 2,500. 00 2,000. 00 1,500. 00 JK Cement Madras Cements Ltd. 1,000. 00 500. 00 0. 00 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 7 Figure 3: Change in sales % change in sales 60 50 JK Cement Madras Cements Ltd. 40 30 20 10 0 -10 -20 2003 2004 005 2006 2007 2008 2009 2010 2011 2012 Figure 4: Profit Margin Profit margin 25. 0% JK Cement Madras Cements Ltd. 20. 0% 15. 0% 10. 0% 5. 0% 0. 0% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Figure 5: Return on Equity ROE (%) 60 JK Cement 50 Madras Cements Ltd. 40 30 20 10 0 2007-08 2008-09 2009-10 2010-11 2011-12 8 Figure 6: Asset turnover Asset turnover (%) 110 JK Cement 100 Madras Cements Ltd. 90 80 70 60 50 40 2007-08 2008-09 2009-10 2010-11 2011-12 Figure 7: Return on Net Operating Assets RNOA (%) 40 JK Cement Madras Cements Ltd. 30 20 10 0 2007-08 2008-09 2009-10 2010-11 2011-12Figure 8: Debt – Equity Ratio Debt – Equity Ratio 2. 5 JK Cement Madras Cements Ltd. 2 1. 5 1 0. 5 0 2007-08 2008-09 2009-10 2010-11 2011-12 9 Figure 9: Spread Operating Spread 0. 5 JK Cement 0. 4 Madras Cements Ltd. 0. 3 0. 2 0. 1 0 -0. 1 2007-08 2008-09 2009-10 2010-11 2011-12 2010-11 2011-12 -0. 2 Figure 10: Holding period Operating Cycle (days) 120 JK Cement Madras Cements Ltd. 100 80 60 40 20 0 2007-08 2008-09 2009-10 Figure 11: Quick ratio Quick Ratio 2 JK Cement Madras Cements Ltd. 1. 5 1 0. 5 0 2007-08 2008-09 2009-10 2010-11 2011-12 10 Figure 12: Net Financial Rate NFR 0. 18 JK Cement 0. 6 Madras Cements Ltd. 0. 14 0. 12 0. 1 0. 08 0. 06 0. 04 0. 02 0 2010-11 2011-12 11 Appendix B: (Tables) Table 1: Key stock statistics Stock Report| 24 July 2012 |Symbol : JKCEMENT (NSE); JKCEM (BSE); ISIN NUMBER INE823G01014 J K Cements Stock Price (closing) Investment Style 213. 30 (as of 20 July 2012) Large CAP Sector Cement Summary : JK Cements is one of the largest cement manufacturers in Northern India ; it is the second largest white cement manufacturer by production capacity in India Key Stock Statistics 52 Wk Range 95. 80 to 219. 70 (BSE) 25. 36 8. 41 11,839 EPS (Twelve Month Trailing)P/E (Twelve Month Trailing) 10K investment 5 yrs ago Credit Rating Long Term Bank facilities Short Term Bank facilities Common shares outstg. 69927250 Market Cap Yield (%) Dividend rate per share 1491. 55 Crores 2. 34 5 A+(CARE) A1+(CARE) Table 2: Earnings per Share Earnings Per Share of 10 each ( ) June Q1 September Q2 2011-12 7. 14 0. 51 2010-11 4. 22 -2. 98 2009-10 10. 04 9. 35 December Q3 6. 22 0. 26 6. 65 March Q4 11. 49 7. 66 6. 28 Year 25. 36 9. 16 32. 32 ? ? ? ? ? ? ? ? Table 3: Industry Margins OPM(%) GPM (%) NPM (%) Mar ‘12 21. 78 21. 49 9. 14 Dec ‘11 19. 65 18. 45 10. 13 Industry MarginsSep ‘11 15. 66 13. 6 5. 05 Jun ‘11 24. 41 22. 48 11. 76 Mar ‘11 22. 46 20. 9 11. 92 Dec ‘10 17. 18 15. 32 5. 84 12 Table 4: Industry sales Mar ‘ 12 Industry sales (in crores) % change Change in industry sales (quarter)(%) Dec ‘ 11 Sep ‘ 11 Jun ‘ 11 Mar ‘ 11 Dec ‘ 10 20841. 87 17953. 16 15649. 20 17017. 73 17388. 15 14201. 79 16. 09026 14. 72254 -8. 04179 -2. 1303 22. 43633 Table 5: Industry Growth Projections (for different values of ‘r’) using Free Cash Flow Model Company Name Ultratech Ambuja ACC Shree Cements Madras Cements India Cements JK Cement Average P/B ratio as on 26/08/2012 3. 66 3. 64 . 5 4. 55 2. 19 0. 68 1. 14 2. 765714286 ROE (from March 2012 BS) Cost of Capital (%) Growth (%) 19. 02 15. 28 18. 42 10. 55 18. 78 7. 21 13. 75 14. 71571429 10 11 12 13 14 7. 329288 8. 895631 10. 46197 12. 02832 13. 59466 Table 6: Ratio Calculations Ratios Profit Margin (%) Asset Turnover (%) ROE (%) Return on Assets (%) Net Operating Profit Margin (%) Net Operating Asset Turnover (%) Return on Net Operating Assets (%) = NOPAT/Avg. Net Operating Assets JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras CementJK Cement 2011-12 8. 154156 12. 06512 77. 80004 55. 62438 17. 04343 20. 87036 6. 343937 6. 711146 10. 83703 15. 17511 139. 8798 83. 81691 15. 15882 2010-11 1. 654139 7. 964254 79. 85371 47. 82047 3. 49563 12. 67786 1. 320891 3. 808544 4. 320325 11. 0728 126. 2029 68. 65512 5. 452374 2009-10 10. 84236 12. 59667 88. 57764 56. 65368 22. 29768 25. 09332 9. 60391 7. 136478 12. 51604 16. 10394 160. 5309 81. 84813 20. 09211 2008-09 8. 421552 14. 40591 94. 35595 63. 17162 16. 78291 32. 91344 7. 946235 9. 10 0446 10. 11265 17. 00776 212. 7993 93. 59998 21. 51965 2007-08 16. 62175 20. 30998 107. 4567 75. 2185 41. 51821 50. 27496 17. 86118 15. 31816 17. 88877 21. 64552 209. 9905 128. 6868 37. 5647 Madras Cement 12. 71931 7. 602044 13. 18078 15. 91926 27. 85493 13 Interest Coverage (%) Leverage – Measure 1 Debt-Equity Ratio Current Ratio Quick Ratio Debt Turnover Debt Collection Period (days) Inventory Turnover Inventory Holding Period (days) Operating Cycle (days) NFO NFE NFR Op. Spread FLEV*Spread ROE = RNOA + FLEV*Spread (Advanced Dupont Analysis) JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras CementJK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement 392. 0551 615. 8751 2. 686571 3. 109805 0. 837413 1. 0309 99 1. 197299 0. 601965 0. 833253 0. 343679 35. 22924 16. 62681 10. 21879 21. 65177 5. 924257 5. 223089 60. 76712 68. 92473 70. 9859 90. 57651 401. 46 1719. 03 68. 278 101. 808 0. 170074 0. 059224 -0. 01849 0. 067969 -0. 01548 0. 070076 13. 61077 19. 72691 254. 5852 468. 6705 2. 646419 3. 328794 1. 150731 . 609198 1. 367937 0. 931981 0. 916991 0. 599238 33. 11155 15. 49891 10. 87234 23. 22745 7. 497843 4. 941565 48. 01381 72. 85141 58. 88615 96. 07886 802. 04 2307. 32 62. 958 81. 466 0. 078497 0. 035308 -0. 02397 0. 040713 -0. 02759 0. 065515 2. 693658 14. 15354 666. 585 579. 4166 2. 321729 3. 516204 0. 939762 1. 647142 1. 144753 1. 00381 0. 764784 0. 639154 30. 43733 22. 88671 11. 82758 15. 72965 8. 619538 5. 233222 41. 76558 68. 79127 53. 59316 84. 52092 705. 23 2034. 43 34. 363 98. 455 0. 048726 0. 048394 0. 152195 0. 083413 0. 143027 0. 137394 34. 39482 26. 92014 619. 7696 717. 6917 2. 112058 . 616684 0. 580401 1. 954809 1. 968687 0. 982285 1. 675142 0. 628742 30. 17987 33. 40915 11. 92848 10. 77549 10. 69177 6. 127751 33. 67075 58. 74912 45. 59923 69. 52461 -143. 99 2006. 67 28. 147 65. 807 -0. 19548 0. 032794 0. 410675 0. 126398 0. 238356 0. 247085 45. 35528 40. 62774 851. 7743 1451. 897 2. 324494 3. 28205 0. 626681 1. 714777 1. 762163 1. 019801 1. 467784 0. 702189 26. 72182 31. 59228 13. 47214 11. 39519 10. 49671 6. 782897 34. 29647 53. 07467 47. 76861 64. 46986 37. 91 1183. 64 20. 216 26. 782 0. 533263 0. 022627 -0. 15762 0. 255922 -0. 09877 0. 43885 27. 68721 71. 73993 14