Chapter 3
"New oil law will lead to 'transparent and fair' competition: Iraqi minister"
The Canadian Press, Sun Jan 21, 12:02 PM
http://ca.news.yahoo.com/s/capress/070121/business/iraq_oil_law
As the Iraq oil minister sought to restore the conference of the foreign investors, he said a new draft for the hydrocarbon law is to make a start for a "transparent and fair" competition in bids to develop Iraq's oil wealth. If the new law is approved, he expects it to stimulate foreign oil campanies with their investment clout and technology will modernize Iraq's oil sector. Therefore, Iraq will be able to meet the country's goal, which is to double the current immature production of 2.5 million barrels per day by the year of 2010.
There will be more oil fields added as foreign companies submit their bids, and companies will be chosen according to their capabilities of modern technologies to guarantee Iraq will gain the most benefits. Also, the oil ministry emphasises that the profit made will be sharing among all the Iraqis. A central fund will be formed, and revenue made from the oil are all require to go to the fund. The central fund will then distributed to Iraqis in every region and province according to population.
Relation to Chapter 3
This article is related to chapter three because the government is giving up the oil fields to foreign companies to help them gain more and better benefits. One of the reasons that the government are not selling the oil fields to their local companies is because they don't think the local companies have the technology or money to gain the most benefit from the potential oil fields. The oil ministry also said they will be forming a central fund, which is to gather oil revenue and distributing them to Iraqis in every region and province according to population. The central fund is a third party effect, because the money distributed to the regions and provinces is probably end up going to education, health care, and as we all probably can guess, military power.
On the other hand, we can see the government is already starting to regulate things before the oil fields are being sold. Reason might be that since they couldn't keep the oil fields for themselves, they still want to gain the most profit and benefits from the foreign companies. Though the government announced that the new oil laws that they are setting up now are trying to make the competition for the oil field bidders more "transparent and fair". This sentence is definitely not anything new to most of us probably, since we can always hear it when any government are making new laws to regulate things. It is always making things fair and equal, but usually they would gain the most benefit out of all.
Monday, January 22, 2007
Thursday, November 09, 2006
Chapter 2
"Lesser Profit in Electronic Industries"
The Globe And Mail, 05/11/06 6:50 PM
http://www.theglobeandmail.com/servlet/story/RTGAM.20061105.wblitz1105/BNStory/Technology/home
The result of analysis from this article is talking about consumers being unable to afford technologies these days. The price of electronic products has been driven up for three consecutive years since 2003. Products like digital cameras and Ipods were the main products that caused the rising revenue growth, as well as the faster than expected adoption of the flat screen televisions. Statistics from the United States show revenue from 2003 at $140-billion had gone up to now $302-billion in 2006. Finally, this year people are starting to find prices are getting to costly and are hoping that they’ll drop. Analysis shows that the prices range for products have been dropping lately. For example, the flat screen televisions have dropped significantly; digital cameras are maturing; supplies of new game consoles are limited.
Analysts say that there are two new kinds of products that could have encouraged electronic sales for this year are limiting their own success. One of the new products is the next generation of DVD’s called Blu-ray and HD DVD formats, which are not having an insiders’ war. Another product is the upcoming Sony Playstation 3 and Nintendo Wii, which are in hot demand but has limited quantities available.
Relation to Chapter 2
From all the information that analysts gave us from the article, we can see the demand of electronic products is still high but it has gotten too costly that people cannot afford them anymore. The advance technology over the past few years has driven up both the demand and prices up for electronic products, such as flat screen televisions, digital cameras, Ipods, etc. It is not so expensive that it gets to the point where consumers don’t want to spend too much on them. Therefore, the demand of electronic products is going down along with the prices. The article also talked about the new items that could've helped the demand for electronic products. For example, Sony Playstation 3 is in a very hot demand, and it is also not a very expensive item. But the console has a limited supply, so it is not satisfying consumers’ demand. This might seem bad for electronic companies, but in my opinion, I see a good opportunity for electronic industries to make some profit. Using Playstation 3 as example, if they can set their console’s price a bit higher and trying to find the equilibrium. Then they might be able to make even more money since they can only have a limited supply of Playstation 3.
"Lesser Profit in Electronic Industries"
The Globe And Mail, 05/11/06 6:50 PM
http://www.theglobeandmail.com/servlet/story/RTGAM.20061105.wblitz1105/BNStory/Technology/home
The result of analysis from this article is talking about consumers being unable to afford technologies these days. The price of electronic products has been driven up for three consecutive years since 2003. Products like digital cameras and Ipods were the main products that caused the rising revenue growth, as well as the faster than expected adoption of the flat screen televisions. Statistics from the United States show revenue from 2003 at $140-billion had gone up to now $302-billion in 2006. Finally, this year people are starting to find prices are getting to costly and are hoping that they’ll drop. Analysis shows that the prices range for products have been dropping lately. For example, the flat screen televisions have dropped significantly; digital cameras are maturing; supplies of new game consoles are limited.
Analysts say that there are two new kinds of products that could have encouraged electronic sales for this year are limiting their own success. One of the new products is the next generation of DVD’s called Blu-ray and HD DVD formats, which are not having an insiders’ war. Another product is the upcoming Sony Playstation 3 and Nintendo Wii, which are in hot demand but has limited quantities available.
Relation to Chapter 2
From all the information that analysts gave us from the article, we can see the demand of electronic products is still high but it has gotten too costly that people cannot afford them anymore. The advance technology over the past few years has driven up both the demand and prices up for electronic products, such as flat screen televisions, digital cameras, Ipods, etc. It is not so expensive that it gets to the point where consumers don’t want to spend too much on them. Therefore, the demand of electronic products is going down along with the prices. The article also talked about the new items that could've helped the demand for electronic products. For example, Sony Playstation 3 is in a very hot demand, and it is also not a very expensive item. But the console has a limited supply, so it is not satisfying consumers’ demand. This might seem bad for electronic companies, but in my opinion, I see a good opportunity for electronic industries to make some profit. Using Playstation 3 as example, if they can set their console’s price a bit higher and trying to find the equilibrium. Then they might be able to make even more money since they can only have a limited supply of Playstation 3.
Chapter 1
"Raising Expectations"
The Globe And Mail, 31/10/06 11:09 AMhttp://www.theglobeandmail.com/servlet/story/RTGAM.20061031.wraise1028/BNStory/specialSmallBusiness/home
This article is about a lot of employees in small businesses want a raise since it is getting close to a new year, but the company owners do not have the money to give those raises. This will definitely creates an unsatisfied demand of higher wages, and the company owners have no idea how to deal with this situation. The reason why company owners can't give their employees raises is due to none other than the fact that the business isn't good enough. It is hard for the owners to break the news already, yet they, as owners, must also be responsible for workers' continuing disappointment and as well as their fear of the difficulty for their business. One thing you should never do is to tell your employees that you will give them a raise as soon as possible, because you might not have enough money to do so in another five years. Then you are just giving them false hope, which will lead to more problems and they might get even more disappointed.
Relation to Chapter 1
Employee is considered as a scarce resource (labour). From the above article, it talks about how employees want raises when a new year comes. If owners do not give raise, then their employees will quit their jobs because of the disappointment of not getting a raise. When that happens will create a huge impact for businesses because of the lack of workers to operate businesses, which will then lead to businesses failure. Failure of businesses will affect the economy by driving up the unemployment rate, and then people will spend less because there won’t be as much people earning money. Also, when there are more people unemployed, then the government will have to take care of those people. In my opinion, to break the bad news to your employees is a kind of skills. You have to tell them in a way to make them pity you, yet have not such a big disappointment. As mentioned in the article, it would be nice if you could talk to every single employee face to face as the owner and tell them about the difficulties you’re having right now.
"Raising Expectations"
The Globe And Mail, 31/10/06 11:09 AMhttp://www.theglobeandmail.com/servlet/story/RTGAM.20061031.wraise1028/BNStory/specialSmallBusiness/home
This article is about a lot of employees in small businesses want a raise since it is getting close to a new year, but the company owners do not have the money to give those raises. This will definitely creates an unsatisfied demand of higher wages, and the company owners have no idea how to deal with this situation. The reason why company owners can't give their employees raises is due to none other than the fact that the business isn't good enough. It is hard for the owners to break the news already, yet they, as owners, must also be responsible for workers' continuing disappointment and as well as their fear of the difficulty for their business. One thing you should never do is to tell your employees that you will give them a raise as soon as possible, because you might not have enough money to do so in another five years. Then you are just giving them false hope, which will lead to more problems and they might get even more disappointed.
Relation to Chapter 1
Employee is considered as a scarce resource (labour). From the above article, it talks about how employees want raises when a new year comes. If owners do not give raise, then their employees will quit their jobs because of the disappointment of not getting a raise. When that happens will create a huge impact for businesses because of the lack of workers to operate businesses, which will then lead to businesses failure. Failure of businesses will affect the economy by driving up the unemployment rate, and then people will spend less because there won’t be as much people earning money. Also, when there are more people unemployed, then the government will have to take care of those people. In my opinion, to break the bad news to your employees is a kind of skills. You have to tell them in a way to make them pity you, yet have not such a big disappointment. As mentioned in the article, it would be nice if you could talk to every single employee face to face as the owner and tell them about the difficulties you’re having right now.
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