http://www.pulitzer.org/year/2007/public-service/works/wsjps18.html
Authors must write articles that appeal to a target audience. Charles Forelle wrote an excellent feature article, “How the Journal Analyzed Stock Option Grants,” for “The Wall Street Journal,” that exemplifies an author appealing to a particular audience. The audience demographic of this feature is obviously business people. First, Forelle writes very well to suit his audience’s interests. Second, he speaks in the mentality and understanding of economists', financiers', and large scale business managers' mindsets. Third, he gives the scientific data, methodology and references that all savvy economists and business people must have to consider such information valid or invalid. Forth, the accused and the accuser's arguements are presented in an unbiased fashion that avoids ostrisizing readers while detailing the methodology used to reach the given conclusions. Forelle created a well written feature article that exemplifies the characteristics of articles that appeal to many people of business and economic interests.
Business people have many generalized characterizations and Forelle capitalizes on two in particular. First, business people are nearly always interested in their investments, particularly if someone is manipulating their earnings or losses that may amount to millions and, at times, billions of dollars. Second, many middle management and higher business officers live extremely hectic lives that often consist of 60+ hour work weeks. Therefore, time is a precious commodity that is in scarce supply. Forelle wrote a concise piece that appeals to his readers interests and time constraints.
Mathematical principals govern much of the knowledge base of Business and Economics. Forelle focuses the meat of the article on detailed statistical information and the methodology for independent calculations. To further encourage his cynical audience, Forelle provides references to leading scholars that support the findings.
Forelle references leading scholars of multiple opinions to provide reporting that can be appreciated by most business and economic readers. Discourse between the two primary opinions could continue to occur after reading this article.
The writing style of Charles Forelle, although boring by many creative measurements, can be considered nearing perfection for an article directed at the cynical, overworked, precise, and discerning population of economists and business people of the United States.
Correction to the article: Forelle states, "The 20-day price rises don't present an immediate opportunity to profit, since options can't usually be exercised until held a year or more." This is inaccurate. According to the regulation specifed by the SEC (Securities Exchange Commision) on http://www.cnh.com/corporate/insider_trading_policy.asp there are many opportunities for financial officers to abuse the trading system, especially the lucrative options market. Financial Officers are banned from trading during "blackout periods." "Each Regular Blackout Period commences three weeks prior to the date that the Company’s quarterly earnings are scheduled to be released and ends on the second business day following the Company’s public release of its quarterly earnings" (5.1). "No Insider may engage in a short sale of the securities under any circumstances" (6.3). Options must be exercised by the third Friday of each month. Whether the option trade was made 3 years or 1 day in advance, the option exercise date is on the third Friday of the specified month. Therefore, the system described by "The Wall Street Journal" to buy options backdated to minimum prices would be completely plausible and possible for insider traders using call options outside of the "blackout periods." "Blackout periods" limit approximately 92 days a year. The rest of the trading days in a year (roughly75%) are fair game for financial fruad, especially when scholars are opposing the statistical system outlined by "The Wall Street Journal" to identify securities fraud.
It also must be noted that the only reason financial fraud using a backdating system is detectable results from the exorbitant greed of its perpetrators. If these perpetrators chose to backdate to a higher price that was still profitable the detection system would become useless.
More information on backdating: http://www.biz.uiowa.edu/faculty/elie/backdating.htm
Sunday, May 27, 2007
Wednesday, May 23, 2007
Kalamazoo Promise
On November 10, 2005 the Kalamazoo Promise was unveiled to the public. It was created for the future economic well being of the population of Kalamazoo.
A group of anonymous donors have given hundreds of millions of dollars to the children of Kalamazoo. It is far too much for any child to responsibly spend, but like a good parent the anonymous donors have invested it in these children’s college funds.
The endowment is estimated to be valued between 200 and 250 million dollars. It is amazing that someone would sacrifice so much anonymously for the benefit of strangers. Fortunately for the community of Kalamazoo some individual values the well being of Kalamazoo and its future enough to donate the massive amount of funding.
There is a catch to this however. The recipients of the benefits of the Kalamazoo Promise must be residents of Kalamazoo and attend Kalamazoo Public Schools. It is a welcomed relief to parents that are unable to afford the private school tuitions that are miniscule compared to the amount that college tuitions currently cost.
The only other communities in the United States to have created similar programs to catalyze future and current economic growth are Newton, Iowa and Denever, Colorado.
Parents should not get too excited yet, however, students that were in first grade or further at the time that the Kalamazoo Promise was enacted are required to pay the following amounts based on the length of attendance in the Kalamazoo Public School System:
K-12
100%
1-12
95%
2-12
95%
3-12
95%
4-12
90%
5-12
85%
6-12
80%
7-12
75%
8-12
70%
9-12
65%
10-12
None
11-12
None
12-12
None
It is nearly impossible to find a single resident of Kalamazoo that does not praise the Kalamazoo Promise.
When the promise was first enacted many were in disbelief of the generosity. When asked how she felt upon hearing of the Kalamazoo Promise Monalise James said, “Disbelief. I went to church on Sunday and one of the students that I was mentoring came up to me and said ‘MonaLisa, I can go to college now.’ I have never seen so much hope before. Kids who have always wanted to, but never had the opportunity can go to college now. Kids who never had the opportunity for academic or athletic scholarships. Seen the kids becoming more focused on school and schoolwork. The Promise has inspired them and they have inspired me. It is unlimited what can happen. Parents can show their kids that they can make it. I live in Kalamazoo and have no children, but if I decided to have children, I would consider moving to Kalamazoo for the Promise. Thinks that KPS needs to change academically to prepare students for college before she would send her children there.” The story of a hopeful child and an adult that appreciated the help that this endowment provided to the community is motivation for children and parents alike to strive for greater goals.
Although the Kalamazoo Public School System did not directly receive funding James recognizes the changes that have occurred in the way the organization is run. James said, “New programs for students in KPS. Still tossing around other ideas about how to better serve the community in light of the Promise.” Many others in the community feel the same way about the motivational changes that have occurred from the new hope offered to the children of Kalamazoo. Bronson hospital has, according to James, “Started new programs. Is talking with other organizations in the community to determine how Bronson can support the community. Bronson will still continue to have an annual scholarship for the sons and daughters of Bronson employees that are interested in going into the healthcare field.” Perhaps other major Kalamazoo organizations will follow suit to provide a renewed hope for Kalamazoo. Prior to this the outlook was bleak for many of the students. Michigan’s house foreclosure rate is at an all time high. Michigan’s unemployment rate is increasing. Michigan business are relocating. All of these factors decreased the likelihood that the less fortunate residents of Kalamazoo would be able to achieve and obtain a college education.
The principle of Woodward Elementary School, Victoria Ichungwa, had similar praises to speak of the Kalamazoo Promise. When asked about the indirect economic effects she said the Kalamazoo Promise will, “bring more families to the city, improve the economy, increase jobs and job opportunities enhance access to higher education.” The increased population that is moving to Kalamazoo to take advantage of the Kalamazoo Promise has created unique problems for the school system. When asked what Kalamazoo School systems have had to do to offset the increased number of students Ichungwas said they have had to, “Add more staff and provide a more diversified and improved way to teaching. This is because, the more children we have, the more creative we become.” Fortunately for the students the Kalamazoo School system has proved very resourceful.
The Kalamazoo Promise has opened the door to many Kalamazoo students and removed the burden of a difficult economic situation. With many people having less money to spend, especially those that send their children to Kalamazoo Public Schools, there is a general sense of relief for the philanthropic effort. Most importantly, the students, the children, are the future of Kalamazoo and fortunately for the community they are receiving the education that is the hallmark of successful cities.
A group of anonymous donors have given hundreds of millions of dollars to the children of Kalamazoo. It is far too much for any child to responsibly spend, but like a good parent the anonymous donors have invested it in these children’s college funds.
The endowment is estimated to be valued between 200 and 250 million dollars. It is amazing that someone would sacrifice so much anonymously for the benefit of strangers. Fortunately for the community of Kalamazoo some individual values the well being of Kalamazoo and its future enough to donate the massive amount of funding.
There is a catch to this however. The recipients of the benefits of the Kalamazoo Promise must be residents of Kalamazoo and attend Kalamazoo Public Schools. It is a welcomed relief to parents that are unable to afford the private school tuitions that are miniscule compared to the amount that college tuitions currently cost.
The only other communities in the United States to have created similar programs to catalyze future and current economic growth are Newton, Iowa and Denever, Colorado.
Parents should not get too excited yet, however, students that were in first grade or further at the time that the Kalamazoo Promise was enacted are required to pay the following amounts based on the length of attendance in the Kalamazoo Public School System:
K-12
100%
1-12
95%
2-12
95%
3-12
95%
4-12
90%
5-12
85%
6-12
80%
7-12
75%
8-12
70%
9-12
65%
10-12
None
11-12
None
12-12
None
It is nearly impossible to find a single resident of Kalamazoo that does not praise the Kalamazoo Promise.
When the promise was first enacted many were in disbelief of the generosity. When asked how she felt upon hearing of the Kalamazoo Promise Monalise James said, “Disbelief. I went to church on Sunday and one of the students that I was mentoring came up to me and said ‘MonaLisa, I can go to college now.’ I have never seen so much hope before. Kids who have always wanted to, but never had the opportunity can go to college now. Kids who never had the opportunity for academic or athletic scholarships. Seen the kids becoming more focused on school and schoolwork. The Promise has inspired them and they have inspired me. It is unlimited what can happen. Parents can show their kids that they can make it. I live in Kalamazoo and have no children, but if I decided to have children, I would consider moving to Kalamazoo for the Promise. Thinks that KPS needs to change academically to prepare students for college before she would send her children there.” The story of a hopeful child and an adult that appreciated the help that this endowment provided to the community is motivation for children and parents alike to strive for greater goals.
Although the Kalamazoo Public School System did not directly receive funding James recognizes the changes that have occurred in the way the organization is run. James said, “New programs for students in KPS. Still tossing around other ideas about how to better serve the community in light of the Promise.” Many others in the community feel the same way about the motivational changes that have occurred from the new hope offered to the children of Kalamazoo. Bronson hospital has, according to James, “Started new programs. Is talking with other organizations in the community to determine how Bronson can support the community. Bronson will still continue to have an annual scholarship for the sons and daughters of Bronson employees that are interested in going into the healthcare field.” Perhaps other major Kalamazoo organizations will follow suit to provide a renewed hope for Kalamazoo. Prior to this the outlook was bleak for many of the students. Michigan’s house foreclosure rate is at an all time high. Michigan’s unemployment rate is increasing. Michigan business are relocating. All of these factors decreased the likelihood that the less fortunate residents of Kalamazoo would be able to achieve and obtain a college education.
The principle of Woodward Elementary School, Victoria Ichungwa, had similar praises to speak of the Kalamazoo Promise. When asked about the indirect economic effects she said the Kalamazoo Promise will, “bring more families to the city, improve the economy, increase jobs and job opportunities enhance access to higher education.” The increased population that is moving to Kalamazoo to take advantage of the Kalamazoo Promise has created unique problems for the school system. When asked what Kalamazoo School systems have had to do to offset the increased number of students Ichungwas said they have had to, “Add more staff and provide a more diversified and improved way to teaching. This is because, the more children we have, the more creative we become.” Fortunately for the students the Kalamazoo School system has proved very resourceful.
The Kalamazoo Promise has opened the door to many Kalamazoo students and removed the burden of a difficult economic situation. With many people having less money to spend, especially those that send their children to Kalamazoo Public Schools, there is a general sense of relief for the philanthropic effort. Most importantly, the students, the children, are the future of Kalamazoo and fortunately for the community they are receiving the education that is the hallmark of successful cities.
Tuesday, May 22, 2007
Final Assignment Update
I am writing my final assignment on the Kalamazoo Promise. I hope to explore the positive effects of the massive philanthropic work.
Final Draft of Lt Dan. (Untitled)
In 1967, the United States government drafted Dan Clifford to fight in Vietnam in defense of American ideals. When asked forty years later how he felt, he replies, “angry, but it was the best decision I ever made.” Clifford, a reserved story teller that often does not elaborate past the facts, becomes excited when recalling “the best decision” he ever made. “The decision,” applying to Officer Candidate School upon receiving his draft notice.
Drafted as an enlisted soldier, Clifford utilized his recently obtained college degree to enter the Officer Candidate School (OCS), an organization that educated him in organization and leadership. Over three years, Clifford prepared to lead a detachment of his countrymen. Knowledge Clifford gained during his training serves him well to this day when administering to his community, his true passion.
Military service changed the course of Clifford’s life and directed him to his job as a Public Administrator in Wayne County. Clifford states, “There is nothing I would rather be doing.” When describing the course of his life, Clifford, usually reserved, quickly excites to describe his civic duties. Contrasting the detailed description of his less threatening responsibilities, in Wayne County, stories of the War in Vietnam lack the detail many would expect from such a stressful and exciting experience. Understanding the mentality of this young man, sent unwillingly to war, remains difficult when speaking to Clifford.
Clifford tells the story of his Vietnamese experience that is extraordinarily similar to the character, Lt. Dan, in the movie, “Forest Gump.” Lt. Dan Clifford’s personality, however, starkly contrasts the fictional character that eagerly charged into battle awaiting the day that he could die on the battle field.
Clifford first arrived in Vietnam in February of ’70. Armed with two weapons: a gun and the rank of Lieutenant, he commands a platoon that effectively contributed to the deracination of localized Viet Kong by utilizing “vastly superior American fire power.” Clifford quickly describes his first three months of fighting in Vietnam without any great elaboration. However, Clifford often comments on the unequaled American fire power that fostered a secure sense of safety in the Lieutenant.
Lt. Dan fulfilled his duties as a platoon commander by maintaining a well disciplined combat unit. Lt. Dan recalls one negative incident in his unit, “three of his soldiers smoked marijuana.” Such situations required immediate attention from a collected leader to avoid physical risk to the platoon. The description of the event decades later still contains just the facts that characterize the majority of Lt. Dan’s Vietnam war stories.
Lt. Dan’s service became much more exciting on April 25, 1970, the President of the United States ordered troops into Cambodia. On May 4, 1970, this command would result in the deaths of nine and wounding of four at Kent State University. This is an interesting note that Clifford shares to highlight the social volatility that awaited his return to the United States.
When asked about his feelings regarding the deaths of three of his men, he simply says, after being asked twice, “We did not really talk about it.” A short pause after this statement gave a feeling of sentimental recollection. Unemotional description of his tour on rare occasions gave way to excited stories of relatively mundane events. During Lt. Dan’s description of his tour in Vietnam, only twice did the stolid story come to life with enthusiasm in his voice.
June of ’70 Lt. Dan’s platoon entered the most deadly ambush organized by the Viet Kong against their platoon since arriving in the combat zone. Bullets whizzed through the air inches above them. Lt. Dan and his platoon use what little cover they can scramble to while firing their unmatched American weaponry. Suddenly, a grenade exploded enveloping Lt. Dan with shrapnel. The subsequent wounds rendered his arm useless for the remainder of his combat career. Nevertheless, the collected commander with a robotic sense of logical rationale continued his role without showing signs of fear, that he claims never crossed his mind. A B-52 flew over head delivering its massive ordinance on the enemy. In true Lt. Dan fashion, the battle description lacks excitement but the anticipation he felt to glimpse the B-52 resonates unmistakably in his voice. He describes the excitement that rushed through his mind as the massive 2000 lbs bombs explode on the enemy positions rattling the earth like an earth quake.
As a result of Lt. Dan’s injury, the United States Army filed his honorable discharge. The Lieutenant makes the journey from a Vietnamese hospital to Japan on his way back to America. Clifford requested to reenter the United States through the state of Washington, a state he never before visited. This final description of Clifford’s Vietnamese odyssey brings an emotional description of his return to the United States, the country he nearly died for.
Clifford did not perceive the war in Vietnam as his opportunity for excitement. Taking pleasure in the simple things that many often dismiss gives Clifford excitement. Just a man that desired the peace and calm of a constructive life style, Clifford took as much as he could from what many considered one of the worst experiences of their lives. Now Clifford puts the knowledge he gained while doing his unavoidable duty to productive use, creating a better Wayne County and improving the lives of his fellow Americans. The events could not be changed, only dealt with and the virtuous individual, Clifford, made the best of bad situation.
Drafted as an enlisted soldier, Clifford utilized his recently obtained college degree to enter the Officer Candidate School (OCS), an organization that educated him in organization and leadership. Over three years, Clifford prepared to lead a detachment of his countrymen. Knowledge Clifford gained during his training serves him well to this day when administering to his community, his true passion.
Military service changed the course of Clifford’s life and directed him to his job as a Public Administrator in Wayne County. Clifford states, “There is nothing I would rather be doing.” When describing the course of his life, Clifford, usually reserved, quickly excites to describe his civic duties. Contrasting the detailed description of his less threatening responsibilities, in Wayne County, stories of the War in Vietnam lack the detail many would expect from such a stressful and exciting experience. Understanding the mentality of this young man, sent unwillingly to war, remains difficult when speaking to Clifford.
Clifford tells the story of his Vietnamese experience that is extraordinarily similar to the character, Lt. Dan, in the movie, “Forest Gump.” Lt. Dan Clifford’s personality, however, starkly contrasts the fictional character that eagerly charged into battle awaiting the day that he could die on the battle field.
Clifford first arrived in Vietnam in February of ’70. Armed with two weapons: a gun and the rank of Lieutenant, he commands a platoon that effectively contributed to the deracination of localized Viet Kong by utilizing “vastly superior American fire power.” Clifford quickly describes his first three months of fighting in Vietnam without any great elaboration. However, Clifford often comments on the unequaled American fire power that fostered a secure sense of safety in the Lieutenant.
Lt. Dan fulfilled his duties as a platoon commander by maintaining a well disciplined combat unit. Lt. Dan recalls one negative incident in his unit, “three of his soldiers smoked marijuana.” Such situations required immediate attention from a collected leader to avoid physical risk to the platoon. The description of the event decades later still contains just the facts that characterize the majority of Lt. Dan’s Vietnam war stories.
Lt. Dan’s service became much more exciting on April 25, 1970, the President of the United States ordered troops into Cambodia. On May 4, 1970, this command would result in the deaths of nine and wounding of four at Kent State University. This is an interesting note that Clifford shares to highlight the social volatility that awaited his return to the United States.
When asked about his feelings regarding the deaths of three of his men, he simply says, after being asked twice, “We did not really talk about it.” A short pause after this statement gave a feeling of sentimental recollection. Unemotional description of his tour on rare occasions gave way to excited stories of relatively mundane events. During Lt. Dan’s description of his tour in Vietnam, only twice did the stolid story come to life with enthusiasm in his voice.
June of ’70 Lt. Dan’s platoon entered the most deadly ambush organized by the Viet Kong against their platoon since arriving in the combat zone. Bullets whizzed through the air inches above them. Lt. Dan and his platoon use what little cover they can scramble to while firing their unmatched American weaponry. Suddenly, a grenade exploded enveloping Lt. Dan with shrapnel. The subsequent wounds rendered his arm useless for the remainder of his combat career. Nevertheless, the collected commander with a robotic sense of logical rationale continued his role without showing signs of fear, that he claims never crossed his mind. A B-52 flew over head delivering its massive ordinance on the enemy. In true Lt. Dan fashion, the battle description lacks excitement but the anticipation he felt to glimpse the B-52 resonates unmistakably in his voice. He describes the excitement that rushed through his mind as the massive 2000 lbs bombs explode on the enemy positions rattling the earth like an earth quake.
As a result of Lt. Dan’s injury, the United States Army filed his honorable discharge. The Lieutenant makes the journey from a Vietnamese hospital to Japan on his way back to America. Clifford requested to reenter the United States through the state of Washington, a state he never before visited. This final description of Clifford’s Vietnamese odyssey brings an emotional description of his return to the United States, the country he nearly died for.
Clifford did not perceive the war in Vietnam as his opportunity for excitement. Taking pleasure in the simple things that many often dismiss gives Clifford excitement. Just a man that desired the peace and calm of a constructive life style, Clifford took as much as he could from what many considered one of the worst experiences of their lives. Now Clifford puts the knowledge he gained while doing his unavoidable duty to productive use, creating a better Wayne County and improving the lives of his fellow Americans. The events could not be changed, only dealt with and the virtuous individual, Clifford, made the best of bad situation.
Tuesday, May 15, 2007
Response to "Gone: Mass Extinctions and the Hazards of Earth's Vanishing Biodiversity"
The author brings attempts to bring the reader into the environment by offering a detailed description of the environment as the opening. Then the death of an unfortunate hiker is described. Apparently, the detailed description of this death is supposed to serve as an argument for the fragility of species that lack genetic and biodiversity. Humans are simply adapted for a different environment than a lizard or a snake. Unfortunately, the hiker's death had little or noting to do with genetic or biodiversity.
As a side note, some of the species that are most capable of survival in harsh environments have the least, relative, genetic diversity. An example of such are cockroaches. It is imprtant to recognize that cockroaches, like most other species, are adapted for a particular environment. Humans are adapted for a mental, athletic, and beautfy alleles. The process of natural selection rarily pressures humans' genetic code to be more adapted for harsh desert environment.
The author mentions many facts to prove that an extinction is, in fact, occurring. It is important that ignorant people are educated about this fact, but for the author it provides a solid base to build her arguement. She followed this by stating that this sixth mass extinction threatens the human population. How? I can think of no such way that is of great importance to humanity's current physiological survival. The true threat is to the potential improvements that could be generated from knowledge of a soon to be extinct unknown species.
The dilemma of losing potential improvements to humanity through the use of biological traits common to unknown species can be partially avoided by cataloging the genetic codes of all species. This would make identification of desirable traits more difficulty as the features could not be seen in the natural environments, but, nevertheless, it still has some benefits.
The author did not provide facts for diverse arguments. There are many regions that offer compelling arguments for Global Warming. But these regions have their counterparts that do not support Global Warming.
The author did not provide enough unbiased information to convince people that are well versed and opposed to some aspects of her arguments. Nevertheless, her argument was compelling and educational to people that may be knowledgeable and those that are ignorant.
As a side note, some of the species that are most capable of survival in harsh environments have the least, relative, genetic diversity. An example of such are cockroaches. It is imprtant to recognize that cockroaches, like most other species, are adapted for a particular environment. Humans are adapted for a mental, athletic, and beautfy alleles. The process of natural selection rarily pressures humans' genetic code to be more adapted for harsh desert environment.
The author mentions many facts to prove that an extinction is, in fact, occurring. It is important that ignorant people are educated about this fact, but for the author it provides a solid base to build her arguement. She followed this by stating that this sixth mass extinction threatens the human population. How? I can think of no such way that is of great importance to humanity's current physiological survival. The true threat is to the potential improvements that could be generated from knowledge of a soon to be extinct unknown species.
The dilemma of losing potential improvements to humanity through the use of biological traits common to unknown species can be partially avoided by cataloging the genetic codes of all species. This would make identification of desirable traits more difficulty as the features could not be seen in the natural environments, but, nevertheless, it still has some benefits.
The author did not provide facts for diverse arguments. There are many regions that offer compelling arguments for Global Warming. But these regions have their counterparts that do not support Global Warming.
The author did not provide enough unbiased information to convince people that are well versed and opposed to some aspects of her arguments. Nevertheless, her argument was compelling and educational to people that may be knowledgeable and those that are ignorant.
Wednesday, May 9, 2007
Lt. Dan Story: Possible Changes
I have concluded that I should use one of two ideas for alterations to my Lt. Dan story. First possibility, add a past tense segment that has flashbacks to Vietnam with a similar story line. Second possibility, focus on the high rate of mortality among platoon commanders. The extremely high death rate relative to other ranks was caused by friendly fire, and inadequate training in the field, despite, being the primary enemy targets in the average fire fight.
Tuesday, May 8, 2007
"Bareback Mountain" Response
Although Limbaugh's strong opinions may alienate many readers, there are many readers that support his opinions with similar vehemence. Limbaugh walks a fine line of opinion and fact as he compacts many opinions into the short space he had been allotted. The quick changes between subject matter increases the perceived reading time. No matter the demographic of the readers more statistics would be helpful.
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