Hertz Lbo free essay sample

1. How much value do you expect to be created by operating improvements and capital structure changes envisioned by CDR? CDR proposed changes to the following areas. a. US RAC on-airport operating expenses: Labor per transaction, administrative and other costs had increased 41%, 65% and 30% respectively between 2000 and 2005. In addition, margins were not constant across locations and varied from 32% to -7%. CDR proposed that the operating expenses could be reduced resulting in cost savings of $75M per year. b. US RAC off-airport strategy: Hertz’s plan for expansion in off-airport locations had not generated the profit commensurate with the capital required to support it. Further, profit margins varied from 55% to -200% across off-airport locations. CDR proposed that potential savings of $58M per year could be realized from this source. c. European operating and SGA: Hertz’s European SGA expenses as a percent of revenue were nearly three times higher than those in the US. We will write a custom essay sample on Hertz Lbo or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page CDR proposed that efficiencies from this source would be $33M per year. d. US RAC fleet costs: Hertz had higher fleet costs as compared to its competition. However, this advantage that the competition held over Hertz was expected to go away soon, which would result in a more level playing field. e. US RAC Nonfleet capital expenditures: Hertz spent more on capital expenses than its competitors. Reducing this to comparable levels with Avis would result in savings of $57M per year. f. HERC ROIC: Aligning manager’s incentives to focus on ROIC was expected to result in significant savings, to the order of $32M per year. In total, CDR was expecting to create approximately $255M per year. Conservatively, we would expect that CDR would realize 50% of its projections, which amounts to approximately $127M per year. 2. How would you explain the proposed transaction structure developed by CDR and its partners? Specifically, does it help or hinder the realization of the anticipated sources of value in the deal? The transaction structure can be summarized as follows: a. Created a new special purpose entity – Fleetco – that would buy vehicles from OEMs and dealers and would finance the purchases through ABS and equity from Hertz, the parent company. b. Fleetco’s ABS were secured by the fleet nd repurchase agreements with car manufacturers. c. Fleetco would lease the vehicles to Hertz, the parent company. Fleetco’s assets thus consisted of the rental cars and the cash contributed by the parent. The lease payments from the parent would pay the interest payments on the ABS debt. d. The parent company maintained control of HERC and rented out equipment and serviced them. At first glance, the transaction structure described above does not seem to have any impact on the operating efficiencies that were generated through the deal and seems more to affect the financing aspect of the deal. The transaction structure was designed to maximize the funding obtainable through the RAC fleet and to tap the ABS market. However, digging a little deeper, we can see that CDR wanted to achieve the following with this structure: a. Stability in the business without having to restructure due to downturns. b. Allow for volume purchases that would mitigate seasonal and cyclic fluctuations in car rental activity. c. They also wanted to obtain sufficient liquidity to enable opportunities for future growth and expansion without refinancing. . Finally, lower the cost of capital than what was currently available under Hertz’s existing structure. The value expected to be derived from operating efficiencies were dependant on CDR’s ability to make decisions without worrying about putting out short term fires and independence from the parent with regards to business decisions. The vision was broader, and depended on complete flexibility and autonomy, which they were able to obtain from this structure. With this structure and the resulting ability to take business decisions without having to get buy-in from the parent company, CDR could reduce the labor costs without fearing a backlash from the employees in the RAC on-airport segment, close the RAC off-airport locations which were not generating sufficient profits, and align manager’s incentives to focus on key metrics such as ROIC. 3. Compare your anticipated sources of value to the illustrative projections contained in the Hertz selected projections online. The anticipated sources of value are the following: . US On-Airport segment – margin increase through productivity gains that more than offset cost inflation b. Off Airport segment – market share to increase due to further penetration of replacement segment. c. European and international RAC: steady volume growth, and cost savings and margin enhancements expected from narrowing of the gap between US and non-US performance comparable cost categories. d. HER C: EBITDA margin improvements resulting from capital efficiency and SGA leverage. From the projections we see the following: 200520062007200820092010 RAC Gross EBITDA ($, M)$2,201$2,436$2,616$2,868$3,097$3,305 Change 10. 68 %7. 39 %9. 63 %7. 98 %6. 72 % RAC Adjusted EBITDA$469$491$554$623$708$809 Change4. 69 %12. 83 %12. 45 %13. 64 %14. 27 % As we can see from the table above, RAC Gross EBITDA is increasing every year about 8%. The RAC adjusted EBITDA is increasing at about 12. 5% every year on average. The RAC Adjusted EBITDA which is the Gross EBITDA minus financing and depreciation charges is growing at a much higher pace. We can attribute these increases to value generated from operating efficiency improvements. 4. How much should CCM bid on sep 5? Assumptions 20. 84% Corporate Debt5296 Fill in the ? s, attach to write-up Revenues2005 PF20062007200820092010 RAC (rent-a-car)600164276783699374487720 HERC137413611669164217871725 Corporate717171717171 Total744678598523870693069516 Gross EBITDA RAC220124362616286830973305 HERC558613660725752788 Corporate Expenses(7)(7)(7)(7)(7)(7) Total Gross EBITDA275230423269358638424086 Corporate EBITDA RAC Gross EBITDA220124362616286830973305 less: RAC Cash Depreciation Interest (lease pmt)(1732)(1945)(2062)(2245)(2389)(2496) RAC Adjusted EBITDA469491554623708809 HERC EBITDA558613660725752789 Corporate Expenses(7)(7)(7)(7)(7)(7) Corporate EBITDA102010971207134114531591 Free Cash Flow to Equity (FCFe) 20062007200820092010 Corporate EBITDA 1,097. 0 1,207. 0 1,341. 0 1,453. 0 1,591. 0 less: increase in RAC equity (20. 84% x ? fleet) 99. 4 91. 5 92. 9 77. 5 116. 7 less: HERC maintenance CAPX (cash deprn) (230. 0)(287. 0)(292. 0)(303. 0)(322. 0) less: HERC growth CAPX (HERC ? below) 76. 0 78. 0 70. 0 72. 0 65. 0 less: corporate CAPX (256. 0)(221. 0)(217. 0)(209. 0)(217. 0) plus: decrease in work cap 29. 9 27. 1 24. 9. 7 7. 1 plus: increase in other liabs (pension insurance) 58. 9 66. 4 36. 0 48. 8 69. 4 less: corporate cash interest, net (461. 0)(456. 0)(445. 0)(424. 0)(390. 0) less: corporate cash taxes (30. 0)(33. 0)(37. 0)(40. 0)(43. 0) equals: Available to Pay Principal 384. 2 473. 0 573. 0 685. 0 877. 2 less: principal payments (384. 2)(473. 0)(573. 0)(685. 0)(877. 2) Free Cash Flow to Equity 0. 0 0. 0 0. 0 0. 0 0. 0 End of Year Rental Equip ment Value2005 PF20062007200820092010 RAC8,176. 08,653. 09,092. 09,538. 09,910. 010,470. 0 HERC1,857. 01,933. 02,011. 2,081. 02,153. 02,218. 0 10,033. 010,586. 011,103. 011,619. 012,063. 012,688. 0 Corporate Leverage 2005 PF20062007200820092010 Gross Corp Debt5,296. 0 4,911. 8 4,438. 8 3,865. 8 3,180. 7 2,303. 5 Excess cash (proportional to fleet size on book)526. 4 553. 0 517. 0 516. 0 444. 0 625. 0 Net Corp Debt (Gross less XS Cash of $526. 4)4,769. 6 4,358. 8 3,921. 8 3,349. 8 2,736. 7 1,678. 5 Corp EBITDA/cash interest 2. 38 x 2. 65 x 3. 01 x 3. 43 x 4. 08 x Valuation Preliminaries2005 PF Corporate EBITDA, 20101591. 0 times: EBITDA multiple (comps)5. 0 equals: 2010 enterprise value7955. 0 less: net corp debt(4769. 6) equals: 2010 equity value3185. 4 unlevered hertz beta90. 0% market risk premium5. 5% riskless rate4. 4% Cost of Equity2005 PF20062007200820092010 Net Corp Debt as % Equity Value221. 5%179. 6%145. 6%113. 6%85. 9% Levered Beta189. 3%151. 6%121. 0%92. 3%67. 3% Cost of Equity 14. 8%12. 7%11. 0%9. 4%8. 1% Valuation by Backwards Iteration Estimated Total Equity Value, Start of Year 2153. 682426. 992694. 102948. 003185. 40

Soul Music As A Vehicle Of Social Expression Essays - Free Essays

Soul Music As A Vehicle Of Social Expression Essays - Free Essays Soul Music As A Vehicle Of Social Expression Music is the most powerful vehicle of human expression. As the embodiment of love, disapproval, happiness, experience life, music speaks to us, because it comes from us. Each people, in each paradine of the human experience instinctively and systematically change the music of the past to represent the realities of the present. In this century, black music, more specifically Soul music, has been that music that has brought to plain view that which evidences our humanity hope, hurt, joy and passion in such a way that the world has no other choice than to feel its power and marvel in its brilliance. When one discusses the relationship between Soul music and the civil rights movement, it becomes a dialouge very akin to that of the chicken and the egg. The period of Classic Soul is that period primarily, but not exclusively referenced as the 1950s, 60s and 70s (Stephenson 186). This is the time frame of the American Civil Rights Movement, and the impact of the massive changes going on, are reflected in the music and the culture. So one would be correct in both assuming that the Civil Rights Movement gave rise to Soul music, as much Soul music contributed to the success of the campaign for civil rights. Soul music during its heyday, did more than simply entertain. For a race of people it served as a source of motivation, strength and education, for a people immersed in turmoil and tragedy. The institution of segregation had effectively inhibited the general populaces awareness of the great achievements and contributions made by African-americans throughout the history of the United States (Franklin 429). Inasmuch, Soul music sought to bring that undersight to light. Soul songs like Donny Hathaways To Be Young, Gifted and Black, was revolutionary, in that they sought to instill pride of ones history, but at the same time motivate a new generation to reach new heights. As Hathaway says, We must begin to tell our young, Dont you know that there is a whole world waiting for you?, he is calling for the teaching of black pride to the youth, which was a wide spread trend in black communities of the 60s and 70s (Hathaway). James Browns Say It Loud, Im Black and Im Proud, became an anthem fo r the movement (Brown). The songs lyrics like, .Dont quit moving, until we get what we deservewed rather die on our feet, than keep living on our knees, were words of inspiration for those involved in the struggle for equality. Whereas the predominant theme of rhythm and blues was love and other kind of human relationships, soul singers voiced concern about the social injustice, racial pride, black militancy, and forms of protest (Southern 517). Eileen Southerns statement on Soul music greatly describes the type of works produced by Hathaway and Brown at the time, yet was definetly not exclusive to these two artists. The period wherein Soul intertwined with the Civil Rights Movement, produced music greatly influenced by the environment in which its creators lived. Donny Hathaways, Ghetto, and Marvin Gayes Inner City Blues (Makes Me Wanna Holler), speak of the harshness of life in the Inner City (Hathaway/Gaye). Societal ills and political unrest were a major theme of Soul music, and Marvin Gayes work, almost more than any other artist, was demonstrative of this fact. Gayes album Whats Goin On, was his commentary on the social problems of the period, and through its success tremendously impacted the increasing social awareness. Despair within the black community was given voice in Gayes Inner City Blues. Inflation, taxes, unemployment and police brutality were numbered among the themes addressed in the song. The sense of hopelesness of the piece can best be conveyed in the line saying, this life aint worth the living.makes me wanna holler, throw up both my hands!(Gaye). Save the Children goes on to ask: Who is willing to try and save a world that is destined to die?, yet goes on to say live life for the childrenlets save the children (Gaye). So, even in the midst of great despair, Gaye, and other artist of his genre, did believe in the possibility of change. Ball of

Workplace and Communication Essay Example | Topics and Well Written Essays - 750 words

Workplace and Communication - Essay Example When one understands the basis of being satisfied with his job, the discussion of getting the work done in a good enough manner is very important. However, what is really required is a vision to do things the right way and keep all the employees and peers devoted to their respective work domains so that success within the work environments is ensured. When one discusses the factors of a positive work environment, the understanding of who creates such an environment is very necessary. This is because the workplace factors are usually changing all the time and do not require constant checks. What is indeed desired is an environment that shall make the employees feel at home with how they are treated and what kind of facilities they enjoy while doing their tasks or jobs. These employees should cultivate positive-ness from their own selves so that this could be reflected back in their work. But then again it is always easier said than done because it involves quite a few issues, most important of which are the reasons that can go ahead in asking for communicating the problems that the employees experience and feel that they can resolve with dialogue. Being positive is very necessary because it asks of the people to represent who they really are and what they can achieve. What is required is a proper framework to make sure that they r emain contented and stuck with what they are doing and without any problems whatsoever. This shall build ways and means through which success would eventually be attained within a workplace environment. Hard work is required to create positive-ness within a workplace environment because it will bring success for everyone. I think that employee interaction outside of the workplace environment actually helps the employees to grow and show who they really are. It makes them feel satisfied with their norms and routines, and allows for the development of

Insurgent Movements During and Immediately After WW2 Essay

Insurgent Movements During and Immediately After WW2 - Essay Example The further occupation of France, as well as austerity measures of Nazis and Vichy regime increased the will to fight. Part of the population had no choice apart from joining the Resistance (Jews or people forced to work in Germany) (Crowdy, 2007). Part of Resistance groups were communist and antifascists. Another part of the Resistance fought for the liberation of France and establishing the new country. It should be also mentioned that significant part of Frenchmen was depressed by the defeat in 1940, did not want to fight or preferred to accept the existing situation. So-called passive resistance also existed (Folker, 2012). The Resistance was a movement of people with different principles and motivations. The Resistance included various forms of struggle. It may be described as a combination of movements and networks (Folker, 2012). Movements were mostly aimed on the fight against the Nazism ideology. They grouped around newspapers and spread the ideas of the Resistance. The production of the publications was another form of resistance. Networks were structures that are more active. They gathered information about military activity, organized sabotage actions and armed resistance. Sabotage and espionage were the main forms of fight. The armed fight was the less frequent form of resistance. Non-obedience to the Nazis legislation or hiding Jews are also treated as a form of fight. Part of people treat themselves as resistants for ‘at least doing something’. About 500,000 people were involved in the Resistance and about 100,000 people participating in this movement were killed. The results of maquis’ military was not so serious (about 9,000 executions). The most impo rtant result of the Resistance activities was the information gathered before the Normandy invasion (Cobb, 2009). The activity of the Resistance media was one of the

Josef Mengele †the Angel of Death Essay Example for Free

Josef Mengele – the Angel of Death Essay After the war many Nazi doctors were tried at Nuremberg, for war crimes and crimes against humanity. Yet the man who became the most infamous Nazi doctor — although Hitler himself may never heard of him — fled to South America and escaped prosecution. He was never caught and convicted, though he lived for decades thereafter. Mengele, called Uncle by the countless children he subjected to gruesome experiments and unthinkable torture, and known as the Angel of Death in the concentration camps, was responsible for the torture and deaths of 400,000 people, and the torment of thousands more. The most important thing to note about Mengele is that he was not an isolated example of an evil maniac gone berserk. He was simply part of a system and a much wider network of Nazi doctors. His work may have been different from those of the other doctors only in quantitative terms not qualitative terms. Today, the Auschwitz experiments of Josef Mengele remain the most egregious example of the collaboration of unscrupulous researchers with equally unscrupulous senior scientists and prestigious scientific institutions – which is a phenomenon that could be happening on a wide scale in our own times, especially in matters of drug trials of giant pharmaceutical corporations. In 1947, the world learned of what is now the most infamous scandal in medical research: medical experiments conducted by Nazi doctors. Nazi doctors performed a variety of extremely disturbing experiments on prisoners in concentration camps. Some experiments were designed to further the war effort. For example, to study gunshot wounds, Nazi doctors shot inmates and examined their wounds. To study diseases such as typhus, Nazi doctors intentionally infected inmates with disease. To study human capacity to withstand exposure to cold, Nazi doctors stripped inmates and exposed them to icy water or blizzards. However, the majority of experiments had less to do with winning the war and more to do with promoting or substantiating Nazi ideology. Doctors were interested in sterilizing undesirables, curing homosexuality, and establishing anthropological differences between races. To find an effective means of mass sterilization, Nazi doctors injected hundreds of women with a caustic substance in the hope of obstructing their fallopian tubes, and inflicted severe burns and infections on both male and female prisoners by exposing them to high doses of radiation. To cure homosexuality, Nazi doctors injected hormones into inmates suspected of being homosexual. To catalog physical differences in race, Nazi doctors killed a number of prisoners, stripped the flesh off their bones, and saved their skeletons for an anthropological museum. Dr. Mengele is among the best known SS physicians at Auschwitz, and was responsible along with other SS doctors for selections and medical experiments that used prisoners as guinea pigs. Mengele could never have thought of himself as a monstrous psychopath, though, but only as a biomedical scientist participating in a broad program of racial research. During the Holocaust Mengele and many other Nazi physicians used thousands of camp inmates, especially those with disabilities and deformities as subjects for their biomedical racial research. Born in the Swabian section of Bavaria in 1911 into an upper middle-class family, Mengele eventually earned two doctorates. The first doctorate was in physical anthropology at Munich under Theodor Mollison in 1935 and the second was in medicine at Frankfurt under Otmar Freiherr von Verschuer in 1938. He received his license to practice medicine in late 1937 but apparently did not pursue certification in a specialty. Instead, he opted for research. As a student of anthropology, he had studied under the leading exponents of the life unworthy of living† theory and it greatly influenced his thinking and behavior. The notion that some lives were not worth living was rapidly becoming academically acceptable. His two dissertation supervisors were eugenicists, and his dissertations in anthropology at Munich and in medicine at Frankfurt both dealt with research in racial hygiene. After finishing his second doctorate, Mengele continued his research in Verschuers Frankfurt Institute for Hereditary Biology and Race Hygiene. As principal investigator, Verschuer supervised the research of numerous assistants under a variety of DFG (Deutsche Forschungsgemeinschaft German Research Foundation) research grants. Verschuer’s 1938 report to the DFG on this sponsored research, focusing on the genetic study of twins and families, lists the work and publications of his assistant Mengele. Although Mengele did not join the Nazi party until 1938, he belonged to the brown-shirt storm troopers, the SA, during 1933-34 and in 1938 joined the SS. As an SS member, he was drafted during the war into the Waffen SS instead of the Wehrmacht, advancing by 1943 to the rank of captain (Hauptstrumfuhrer). He served as an SS physician to the Eastern front until he was wounded and therefore posted to the concentration camp death head units in the rear. He functioned during 1943-1944 as one of the SS physicians at the Auschwitz-Birkenau extermination camp. In his new post, Mengele performed the usual duties of a concentration camp SS physician as well as the special Auschwitz assignment of directing selections for the gas chamber. In addition, Auschwitz opened up unlimited opportunities for the ambitious researcher. Research subjects were available in large numbers, and the restraints of medical ethics did not apply. Further, Mengele could compel highly skilled inmate physicians to design and conduct research, perform tests and autopsies, and produce research papers, without the need to share credit with them. It is therefore not surprising that Mengele used Auschwitz as a research laboratory. Otmar von Verschuer, Mengeles mentor who was himself a protege of Eugen Fischer, had left Frankfurt for Berlin in 1942 to succeed Fischer as director of the Kaiser Wilhelm Institute of Anthropology. Mengele had worked at the institute during SS assignments to Berlin and thus continued to contribute to Verschuers research projects (Cefrey 62). When Mengele went to Auschwitz, Vershuer realized the potential of this posting, and as principal investigator, he carried Mengeles Auschwitz experiments on his DFG grants. Therefore, Mengele’s experiments — that often necessitated the killing of children, thousands of them (especially twins) — were part of the official program and in pursuing his shockingly macabre â€Å"research† he was only following the broad lines of Nazi research agenda. Driven by the desire to advance his medical career by scientific publications, Dr Mengele began to conduct all kinds of utterly atrocious medical experiments on living Jews, children, twins, disabled people, and all those who fell into the Nazi category of ‘Untermenschen’ – all of whom he took from the barracks of the concentration camp at Auschwitz, or ‘selected’ right away on their arrival, and brought to his hospital block. Mengele used the pretext of medical treatment to kill thousands upon thousands of prisoners, personally administering the horrific torture procedures, for example as by injecting them with phenol, petrol, chloroform, or by ordering SS medical orderlies to do so. From the moment of his arrival at Auschwitz, Mengele joined the other SS officers and SS doctors, among them Dr Clauberg and Dr Kremer, in the selection of Jews reaching the Auschwitz railway junction from all over Europe. With a movement of the hand or the wave of a stick, he indicated as unfit for work, and thus destined for immediate death in the gas chambers, all children, old people, sick, crippled and weak Jews, and all pregnant women. Between May 1943 and November 1944 Mengele conducted, also along with Dr. Heinz Thilo, scores of such selections. Mengele was especially on the lookout for twins and other promising research subjects (Lifton 165). He also took an equally decisive part in several selections in the camp infirmary, pointing out for death by shooting, injection or gassing those Jews whose strength had been sapped by starvation, force labor, untreated illness or ill-treatment by the guards. On May 26, 1943, only two days after he arrived at Aushwitz, Mengele committed his first mass murder. There was a typhoid epidemic in the barracks of over a thousand Gypsies who had been brought to the camp two months earlier. For Dr Mengele, typhoid was not an illness to be cured, but one to be eliminated; that day, all the Gypsies were dragged out of their barracks and driven to the gas chambers. Against their names in the camp register were put the letters SB Sondebehandlung, Special Treatment. This was just a sign of much worse things to come. In perpetrating a host of such ghastly medical and scientific experiments, Mengele was of course being an independent member of a larger cohort of wanton butchers. These Nazi doctors most brazenly forsook their Hippocratic Oath and armed themselves with scalpels, forceps, and needles in inflicting immeasurable pain and torture on hundreds of thousands of innocent people, a significant portion of them being children. Mengele regularly mailed the results of his research on twins to the Kaiser Wilhelm Institute. There scientists analyzed the samples of blood obtained before death and the organs obtained after dissection. It was a systematic, organized and purposeful enterprise. Though few of these doctors collected scientifically valid data and many of the experiments were expressions of pure pathological sadism, the Nazi doctors justified their acts of torture and inhumanity as attempts to improve German medicine and advance science. Mengele himself, through his research on twins, dreamed of being able to genetically engineer a flawless race. The ultimate goal was to produce an ideal race of Aryan men and women endowed with only the finest genetic traits, who would rapidly multiply and rule the world. (Lagnado, Dekel 61) Of the approximately 350 doctors who are estimated to have committed medical crimes, only about 20 doctors and 3 assistants were brought to justice in Nuremberg (Spitz 50). Some others were tried, and sentenced to in American military trials at Dachau. Still many doctors escaped, including one who would become the most infamous of them all, Dr. Josef Mengele. Human experimentation neither arose with the Nazis, nor ended with them; however, the history of human experimentation in the West is usually divided into two eras: before the Nazis and after. Mengele is by no means such a grotesque aberration as he may appear to be at first. Nazi doctors perpetrated some of the most horrendous actions during the Third Reich, but the shadows of Auschwitz and Nuremberg are long. Though Mengele escaped scot-free, we at least know about his evil deeds; there may be many others of his ilk alive today and even working in collaboration with reputed organizations whose work we may never even come to know. Works Cited Cefrey, Holly. â€Å"Doctor Josef Mengele: The Angel of Death† New York : The Rosen Publishing Group, 2001 Lagnado, Lucette Matalon; Dekel, Sheila Cohn. â€Å"Children of the Flames: Dr. Josef Mengele and the Untold Story of the Twins of Auschwitz. † New York : Penguin Books, 1992 Lifton, Robert Jay. â€Å"The Nazi Doctors: Medical Killing and the Psychology of Genocide† New

Essay on Verbal and Situational Irony in The Pardoner’s Tale of Chaucer

The Pardoner’s Tale:  Ã‚  Use of Verbal and Situational Irony  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚      In â€Å"The Pardoner’s Tale,† Geoffrey Chaucer masterfully frames an informal homily.   Through the use of verbal and situational irony, Chaucer is able to accentuate the moral characteristics of the Pardoner.   The essence of the story is exemplified by the blatant discrepancy between the character of the storyteller and the message of his story.   By analyzing this contrast, the reader can place himself in the mind of the Pardoner in order to account for his psychology.   In the Prologue of the tale, the Pardoner clearly admits that he preaches for nothing but for the greed of gain.   His sermons revolve around the biblical idea that â€Å"the love of money is the root of all evil† (1 Timothy 6:10).   Ironically, however, the Pardoner condemns the very same vice that he lives by, as he proclaims â€Å"avarice is the theme that I employ in all my sermons, to make the people free in giving pennies—especially to me†.   Thus, covetousness is both the substance of his sermons as well as the mechanism upon which he thrives. He clearly states that repentance is not the central aim of his preaching, by mentioning â€Å"my mind is fixed on what I stand to win and not upon correcting sin†. Rather, his foremost intention is to acquire as many shillings as he can in exchange for his meaningless pardons.   In this regard, one can argue that although the Pardoner is evil, he is not a dissembler.   His psychology is clearly not guided by hypocrisy because he does not conceal his intentions under false pretences.   Chaucer clouds the genuine nature of the Pardoner’s psychology in ambiguity.   Upon r... ...nations of his thought processes, it is clear that the Pardoner does not practice what he preaches.   It is ambiguous, however, as to whether the Pardoner believes what he preaches, but just doesn’t follow his preaches or whether he doesn’t believe what he preaches at all.   It is evident, though, that the Pardoner has an astute mind.   He is highly effective in what he does.   Although he exploits the church for his own personal designs, he succeeds at obtaining that which he pursues.   The efficacy of his strategy is confirmed by Chaucer’s description of the Pardoner as being a â€Å"noble ecclesiastic† and as being unmatched in his trade .   Thus amidst all of his flatteries, there exists a spark of genius that complements his minimal level of ethics.   This intellectual finesse is the riverbed from which all of the products of his mind flow.

Like Water for Chocolate: A Summary Essay

Revolutions throughout time have established change of traditions as the normal occurrence throughout our history. Revolutions in households ca also occur when traditions that are contrary to one’s desire interfere with the values of another. In the novel Like Water for Chocolate, a revolution develops between mother and daughter, Mama Elena and Tita. It is the family traditions, Mama Elena’s lack of understanding of Tita and Tita’s will to break free that sparks the revolution between them. Family traditions play an important role in the cause of Tita’s rebellion against her mother. Tradition states that the youngest daughter (in this case Tita) must not marry, but must take care of their mother until she dies. Tita struggles against her mother’s tradition to â€Å"serve† her until the day she dies, without having a life of her own. Tita did as her mother told even when it made her unhappy. Tita felt smothered by her overbearing mother. Se wanted something more out of life then just taking care of her mother, which is whys he was constantly defying family traditions. An example would be when Tita’s sister Rosaura was unable to feed her son Roberto. Tita however was able to feed him despite not being his mother, defying standards being a mother should feed her own son. Tita was constantly trying to be her own person to make something out of herself that had nothing to do with her mother. When Tita left after Roberto’s death, she wanted nothing to do with her mother, but despite her efforts when she found out that her mother had become paralyzed she soon returned home to help her and take care of her. Tita desperately fights for her freedom and love, while Mama Elena stands as a prime opposition that prevents her from living her dream.