Sony Playstation Vs Nintendo 64 Essays - Business,

Sony Playstation Vs Nintendo 64 Sony Playstation vs Nintendo 64 Essay written by Unknown In the last two years of 1995 and 1996, the video game world was taken into another gaming dimension. The releases of the Sony Playstation in September of 1995 and the Nintendo 64 in September of 1996 has given the gaming public an enormous boost of technological advances in the home entertainment system for the common man. Sony and Nintendo soon became heated rivals as each company tries to out sell each other in the gaming marketplace. Eventhough the Sony Playstation and Nintendo 64 are two different systems. They both have some similar qualities and some very notable differences. First of all the most notable difference between the Sony Playstation and Nintendo 64 is the processing power. Most noteworthy is the fact that the Nintendo 64 is a 64-bit machine, while the Sony Playstation is only a 32-bit system. This means the Nintendo 64 can produce better graphics in a game, while the Sony Playstation's graphics aren't as good. The colors in the Nintendo 64's games are more vibrant, while the Playstation's colors seem to be more dull. Another difference is in the price of each of the systems. The Nintendo 64 is a bit more pricey at $199.99 than the Sony Playstation at $149.99. The games for each of the system also plays at vital role in the gaming marketplace. Both of these systems has some advantages when it comes to games. The Sony Playstation is the favorite in this category, with over 170 games with many 3rd party developers in its extensive library of games. Obviously the Nintendo 64 has less games in its library, due to the fact that the Nintendo was released a year later. The Playstation specializes in the sports genre with many different sporting titles. Sports games such as Madden football '98, NHL'98, NBA Live '98, and PGA Tour Golf '98. The Nintendo 64 specializes in the action/adventure genre with various different titles. With action/adventure games such as Turok: the dinosaur hunter, Super Mario 64, Goldeneye, and Super Mario Cart 64. The prices of the games for the Nintendo system are very expensive compared to the Sony. A Nintendo game can range in price from $59.99 to $69.99 and a Sony game can cost between $39.99 and $49.99. Another difference between the Nintendo 64 and the Sony Playstation is the media in which the games are stored. The Nintendo uses cartridges to store its games while Sony's machine is CD-ROM based. The Nintendo provides superior access times (which means you don't have to wait as long as a game loads, etc.). However, Sony's CD-ROM is far less expensive to produce (a CD-ROM game is usually about $20 less than a cartridge game), offers much greater storage capacity (allowing games to be more in depth and to contain more game data), and the CD-ROM provides CD-quality audio during gameplay. The Nintendo 64 can produce high-quality audio, but it isn't as good as CD-quality audio, and it uses more processing power. In conclusion, the Nintendo 64 and Sony Playstation have some similar qualities and some very different qualities. The video game industry has been becoming more advanced every single year. The consumer in the electronic marketplace has been given many choices by the recent releases by Sony and Nintendo. The choice can be a difficult one because of the differences in both of the gaming systems. The purchase can be determined through a comparison of Sony and Nintendo 64. A consumer can see the differences in graphics, price, the processing power, and the type of games the game system specializes in. English Essays

History of Pension Abuses

History of Pension Abuses Introduction In traditional times, the welfare of the elderly was taken care of by the tightly knit family set up in which they lived. However, the structure of the community has largely changed and this traditional set up seldom exists. This combined with the fact that we are living in a time where the average life-span has significantly lengthened therefore leading to the presence of a significant aged population has resulted in the need for an apparatus to guarantee the welfare of the elderly. Advertising We will write a custom research paper sample on History of Pension Abuses specifically for you for only $16.05 $11/page Learn More Pension schemes present such a platform since they create a means through which the elderly who suffer diminishing power can acquire some form of economic and social security (Blackburn 4). Consequently, the issue of pension benefit remains on the foreground of many governments’ policies as increased benefits of securi ty in retirements is sought after. However, the issue of pension abuse threatens the very foundation of the pension institute. Considering the significant role that pensions play in the lives of the elderly, it is important that these abusive practices be contained. This paper shall set out to provide an informative discussion on the history of pension abuses in our country. The manners in which these detrimental practices can be prevented will also be explored. History of Pensions Pension funds are in essence an agreement by a sponsor to provide income to participants upon their retirements therefore guaranteeing their well being after they are out of the work industry (Blackburn 5). While the earnings made in the pension scheme are significantly less than those made while in employment, they ensure that the retired person can live comfortably without working. Jeszeck documents that over 50% of the private sector workforce participate in some form of pension scheme (6). As a resu lt of this, the pension industry has gained such prominence in modern life that those who manage pension products have become big players in the financial world. Pension funds are vulnerable to fraud and corruption mostly because of a flawed enforcement policy that results in abuse by those who are responsible for the funds (Ferguson and Blackwell 92). As of 1950, the government implemented the Pension Plans Disclosure Act which was meant to ensure that pension plans disclosed more financial information to the Labor Department and to the plan participants (Howard 124). In recognition that employers had too much power over the pension funds, congress in the 1970s sought ways to reduce this. The formation of the Pension Benefit Guaranty Corporation which was responsible for regulations governing vesting and funding standards was set up. This body required the reporting and disclosure of pension plans by the employers.Advertising Looking for research paper on labor law? Let's see if we can help you! Get your first paper with 15% OFF Learn More The Employee Retirement Income Security Act of 1974 resulted in the Department of Labor being charged with the task of administering and enforcing fiduciary requirements, an act which resulted in the fragmentation of the pension interests therefore ensuring that no one body could exploit the pension funds. Defined benefit pension plans must meet the requirements set by the Internal Revenue Code, the Employee Retirement Income Security Act of 1974 and the Pension Protection Act (PPA) (Sipe, Metrejean and Donaldson, 177). The most recent act, the PPA is particularly significant since it obligates companies to ensure that their pension schemes are fully funded and if not, penalties are imposed on the said companies. Pension Abuse The American system allows companies to manage their employee’s pension funds in whichever way they deem appropriate. While it is assumed that the organization will ha ve the employee’s best interest at heart, this is not always the case and there are instances whereby the company uses the pension funds in ways that are beneficial to the company but detrimental to the employees. Perhaps the best example of such behavior is the Enron scandal in which the company utilized money from employee pension funds to inflate its share capital (Blackburn 202). When the Enron scandal was made public, the share prices of the company plummeted and as such, employee pension plans could no longer be paid. Pension funds are often invested in company shares which makes them open to falling prey of corporate greed and indulgence which has resulted in the collapse of many companies in America. Many U.S. corporations are notorious for their extravagant top executive compensation schemes. The motivation for this is to align the interests of executives with those of the shareholders therefore resulted in huge profits for the company through rising share valuatio ns. This set up often results in executives looking for ways to boost share prices so that they can benefit themselves. This short-term boost might have a negative effect on the long-tern health of the company which constitutes fraudulent behavior (Blackburn 202). The cost of this share price manipulation by executives will affect the employees who have invested their pensions of the same company.Advertising We will write a custom research paper sample on History of Pension Abuses specifically for you for only $16.05 $11/page Learn More Another danger that pension schemes suffer from is pension buyouts by financial entities. Purcell, Orszag and Net reveal that buyouts create new risks that could adversely affect the welfare of the workers (137). In addition to this, such buyouts results in the creation of a third-party sponsor who does not have an incentive to manage the plan in the interest of the employees. This is as opposed to a pension scheme that is sponsored by the company which will have an incentive to properly manage the plan so as to maintain a good working relationship with the employees. Prevention of Abuses Blackburn asserts that while a good pension scheme can help reinforce a healthy and sustainable economy, a bad one results in economic dangers and social dis-tempers (4). Pension fraud results in a bad pension scheme and therefore threatens the economy and social harmony. It is therefore of uttermost importance for means to be sought through which pension fraud can be prevented altogether or mitigated at the very least. Stewart reveals that most workers are highly exposed to risks such as insolvency by the plan sponsors. Owing to the significance of pension funds to the lives of the people who make the investments, it is of great importance to ensure that the said funds to no fail. One of the manners through which this can be ensured is through Pension Benefit Guarantee Schemes (PBGS). Stewart articulates that PBG Ss are insurance type arrangements which â€Å"take on outstanding obligations which cannot be met by the insolvent plan sponsors (2). Such safeguards are especially vital in a volatile market where the health of a company may not be guaranteed. The PBGS in recent years bailed out over 4000 failed pension plans therefore ensuring that the employees who had been investing in the fund were not affected by the plans failures (Sipe, Metrejean and Donaldson, 186).Advertising Looking for research paper on labor law? Let's see if we can help you! Get your first paper with 15% OFF Learn More Another proposed solution for ensuring that pension abuse does not occur is by imposing of strict rules that ensure that the pensions are at all times funded. Stewart reveals that in Dutch where such a system has been adopted, all pension funds are required to have a certain minimal percentage of funds at all times (9). While it has been demonstrated that having a 100% funded pension may not be feasible as a result of deterioration of investment returns and other unexpected outcomes, the higher the percentage of minimal funding the lower the risks of a the pension fund collapsing. The U.S. also has such a policy in place through the PPA which not only dictates that pension is fully funded but it also increases the disclosure requirements for employers funding private pension funds. Conclusion Given today’s economic realities, it is important to ensure that the pension funds are safeguarded from fraud. This paper set out to give a brief history of pension funds, the abuses t hat can be perpetrated against the funds and possible preventions. From this paper, it is evident that pensions continue to be vulnerable as a result of fraudulent behavior by the funds managers as well as little policing efforts to ensure that the funds are kept in the right order. This paper has outlined the various methods which can be used to perpetrate abuses of pensions. All this methods result in the employees losing a significant or even all of their pension. However, proactive steps have been taken so as to ensure the prevention and detection of pension fraud. These methods such as the PBGS and the PPA is properly implemented will result in the safeguarding of pensions from fraudulent persons. This will not only ensure the protection of the future welfare of the employees but it will also have a positive impact on the country’s economy. Blackburn, Robin. Banking on death: or, investing in life: the history and future of pensions. Verso, 2003. Print. Ferguson, Kare n and Blackwell, Kate. The pension book: what you need to know to prepare for retirement. Arcade publishing, 1996. Print. Jeszeck, Charles. Retirement income: challenges for ensuring income throughout retirement. Diane Publishing, 2010. Print. Sipe, Stephanie. Metrejean, Cheryl and Donaldson, William. â€Å"Defined Benefit Pension Fraud: A ticking time bomb.† Journal of Forensic Investigative Accounting Vol. 2, Issue 2. Stewart, F. Benefit Security Pension Fund Guarantee Schemes. OECD Working Papers on Insurance and Private Pensions, No. 5, OECD Publishing. Purcell, Patrick and Orszag, Peter. Underfunded pensions, pension dumping and retirement security. The Capitol Net Inc, 2009. Print.

Transfer pricing case Coursework Example | Topics and Well Written Essays - 1250 words

Transfer pricing case - Coursework Example The company’s management decided to expand its product line and consequently many new and innovative products were developed. As a result a broad array of cell phone products developed among which the Energy Saving System or ESS was most significant. The company’s growth enabled it to reach the broader markets including international markets and diversification. In 2003, the company’s management decided to diversify internationally into Asia-Pacific markets which were expected to experience the highest growth retain cell phone usage in near future. The management team at Prime Co. decided to discuss the possibility of expanding into international markets. They decided to enter the Asian-Pacific market as it was expected to experience the highest growth in cell phone usage in near future. Some of the strategies that were being considered by the Prime Co’s management team include exporting, licensing, contract manufacturing, strategic alliances, or starting a wholly owned subsidiary. Exports mean to transfer goods and services outside domestic borders. Exports can be favorable when the domestic market’s demand has stabilized and there is huge demand in the developing countries for the target products. The benefits of exports can be reduced by the foreign government by introducing trade and tariffs which act as barrier for importing foreign goods in developing countries. The foreign governments generally adapt such policy to protect the domestic markets from foreign competition. In these kinds of situations the company does not have direct control. Licensing is the granting of permission by licensor to the licensee as an authorization for carrying out activities by the licensee and also use the licensed material of licensor. The biggest advantage of licensing is that it involves less cost of investment on R&D with limited financial risk. So, if the product fails in foreign country