buy custom The Countrywide Financial Corporation essay

buy custom The Countrywide Financial Corporation essay The Countrywide Financial Corporation was founded in 1969 by Angelo Mozilo and David Loeb. Angelo Mozilo was the founder and chairman of the corporation. He is also thought to be behind the collapse of the company. In 1969, David Loeb founded the Countrywide in New York. Its intention was to create a nationwide lending firm specializing in mortgage loans. The company proceeded to open retail branches in California and by 1980 they had 40 branches in eight states. The company grew in leaps and bounds and saw it attain a loan origination of 2.2 million totaling to $408 million with 661 branches spread in 48 states. In the year 2008, the company was acquired by Bank of America for $4 billion. Its market value rose to $24 billion in 2006, but in 2007 it rapidly fell, when it emerged that the countrywide mortgages that had been during housing boom were overly risky and was faced with the risk of default. The company set pace on reforms that protected lenders from risks related to loan default. It also led to protection of borrowers with low income from exorbitant interest rates. Was the U.S. federal governments in 1932 intervention in the market for home ownership desirable? How did the creation of Fannie Mae in 1938, Ginnie Mae in 1968, and Freddie Mac in 1970 expand homeownership and shape lending practices at banks and other mortgage lending ?rms? Basing on the achievements realized it is clear that the intervention by the U.S government in the market was desirable. The creation of the Federal Home Loan Bank, for example, gave a provision on which lending to financial institutions is short-term prompting the desire for additional funds for home mortgages. The 1934 National Housing Act promoted homeownership. This is because it provided a system of insuring loans that protected default by borrowers. The creation of Fannie Mae facilitated secondary markets for mortgages. This was issued through guidelines of FHA program. This gave an opportunity to lenders who operated privately. This enabled private lenders to come up with a large count of FHA loans. Furthermore, due to the reason that loans could be sold in the secondary market. Another reason is that the borrower did not have to hold the loan until the loan term elapses. It also meant that another new loan could be created every other time the lender sold enormous loan bundles to secondary market inventors. Fannie Mae also bought mortgages that conventionally conformed to mortgages from the lenders. The reconstituting of Fannie Mae to trade publicly as a government sponsored enterprise saw its activities wiped out from the budget of the U.S federal government and moved its government insured portfolio, FHA mortgages, to corporation, which the government kept under total control. This was later known as Ginnie Mae. However, it remained in custody of Fannie Maes balance sheet. Th chartering of Freddie Mac facilitated the pooling of conforming loans, and came up with securities that were backed by mortgages (MBSs). These were sold as pooled shares on loan to the investors. The yield on interest for these security agencies lay between the U.S Treasury and AAA corporate. This obligation reflected low security risk. The MBSs development widened the secondary market for loans meant to be mortgaged. The reason being that the investors could buy portfolio of loan share other than buy intact portfolio loan. The Fannie Mae and Freddie Mac value to capital share in the market was equivalent to the MBSs obligations and debt guarantee of implicit government of the U.S. It is also important to note that, the Federal Charter demanded that they aid the residential mortgages through the secondary markets. It also obligated them to fund families whose incomes were low or moderate. They were also required to consider mortgage funding geographic distribution. This entailed finance on mortgage for geographic sectors that seemed undeserved. Another benefit that comes along with package of MBSs is that its mandate is to appraise the credit history of the borrower, and guidelines to establish the financial capability of the borrower in meeting the obligations of debt. This is important in establishing the probability of the borrower defaulting. This facilitated the growth of market of mortgage. Also the bolstering of loan program by the Veterans Administration led to zero down payment and reduced interest rates on loans. The housing burst of bubble in the year 2007, when the economy of the United Sates started weakening with the decline in demand for housing caused prices on homes to plummet. The appreciation in prices of homes almost coming to an end saw most of their properties go down. The equity position that was negative led to mortgage balance, which in turn led to fair market value of most of properties. The intervention, therefore, was desirable. This is because most of the issues that affected lending were deliberated on. It led to streamlining of mortgage business. It went along way in ensuring that the lenders were protected from risk that may arise. The borrowers too were not left behind as this ensured that no borrower was discriminated against based on race or geographical locations. The rate on interest towards the borrowers was also fully addressed by the enactment. Why did the U.S. Congress enact the Community Reinvestment Act, the Home Mortgage Disclosure Act, the Depository Institution Deregulation and Monetary Control Act, and the Housing and Community Development Act? Was this legislation effective in expanding homeownership? Did the governments promotion of subprime mortgages and high loan-to-value (LTV) subprime mortgages create additional risks for lenders and the holders of mortgage backed securities (MBSs) or collateralized debt obligations (CDOs)? In order to answer why the U.S Congress enacted the Community Reinvestment Act, it is important to note the reason for enactment. Sources indicates that the CRA and HMDA were enacted after the social activists group started pointing to the statistics that showed that FHA and lenders were involved in the systematic discrimination that was of race. This was directed to minority consumers who leaved in low income neighborhood. This practice was termed as redlining. The activist mobilized the Carter administration and Congress of the United States to come up with this enactment to curb this social injustice in lending and housing. The depository Institution Deregulation and monetary control addressed the concern on lenders who showed the sign of low income redlining of neighborhoods from their disclosures. However, the lenders defended this evil by pointing to the risks associated with loans made to low income earners, employment histories that were not stable, inadequate funds to enable them to make a down payment, or high debt to income levels. The acts, therefore, were enacted to address the concern by wiping out caps on interest rate and giving the lenders the opportunity to highly charge, or subprime rates to borrowers of higher risk. The Housing and Community development act of 1981 set goals for lenders borrowers of low income and gave an opportunity to FHA borrowers with credit records that are not perfect to access loans on mortgage with 90 to 95 percent LTVs. In the year 1995, the administration of Clinton increased the LTV subprime loans causing the CRA to increase home ownership for the Americans who in one way or another were not able to acquire mortgage loans through the conventional criteria of underwriting. The subprime mortgage created an additional risk to the lender. The reason being that-: the lender did not need the borrower to demonstrate how capable he is to repay the loan. The lender granted the borrower with low credit score, a high debt to income level, or a small down payment. The increased MBSs appetite on Wall Street, the brokers of mortgage expanded their net sales to entail requirements on documentation that was relaxed and limited or impaired the history on credit. This lending technique ensured that many borrowers accessed the loan. However, this could impact negatively on the lender incase the borrower defaulted in repaying. It is also important to know that the crisis of S L facilitated mortgage business unbundling. The origination of mortgage and servicing of loans led to a split. It led to pushing of most originations of mortgages into secondary markets as debt which is collateralized known as Collateralized Debt Obligations (CDOs). The ability of originators of mortgage to sell mortgages that were newly recorded as MBSs led to an increase of mortgage originators. The less strict nature of lending poses a risk on the side of the lender incase of default by the borrower. Buy custom The Countrywide Financial Corporation essay

How Presidents Have Used Their Power To Pardon

How Presidents Have Used Their Power To Pardon The President derives the power of pardon from Article II, Section 2 of the U.S. Constitution, which gives the president power to grant reprieves and pardons for offenses against the United States, except in cases of impeachment. A reprieve reduces the severity of a punishment, but the person remains guilty. A pardon removes both punishment and guilt, which is why pardons are more likely to be controversial. The process for obtaining a pardons begins with an application to the Department of Justice Office of the Pardon Attorney. The DOJ consults with other lawyers and judges for recommendations; the FBI runs a check on the applicant. After winnowing the applicants, the DOJ provides a list of recommendations to the office of the White House Counsel. Historical Pardons Historically, Presidents used the power to pardon to heal rifts in the national psyche. As President Bush said on 24 December 1982, When earlier wars have ended, Presidents have historically used their power to pardon to put bitterness behind us and look to the future. For example, George Washington pardoned leaders of the Whiskey Rebellion; James Madison pardoned Lafittes pirates after the War of 1812; Andrew Johnson pardoned Confederate soldiers after the Civil War; Harry Truman pardoned those who violated World War II Selective Service laws; and Jimmy Carter pardoned Vietnam War draft dodgers. The modern-day pardon, however, has taken a decidedly more political turn. And it may help its recipient find a job and regain the right to vote. Nixon In modern history, the most controversial pardon is probably the 1974 pardon of former President Richard Nixon, issued by President Gerald Ford. Ford assumed the presidency on 9 August 1974, the day after President Nixon resigned over Watergate, pending impeachment. Ford pardoned Nixon on 8 September 1974. Although Carter made a campaign issue of the Nixon pardon, in retrospect Fords action was brave (it was political suicide) and helped a divided nation begin to heal. Iran-Contra On 24 December 1992, President George Bush pardoned six Reagan administration officials involved in the Iran-Contra Affair: Elliott Abrams, Duane R. Clarridge, Alan Fiers, Clair George, National Security Adviser Robert C. Bud McFarlane and Secretary of Defense Caspar W. Weinberger. He compared their actions to those pardoned by Madison, Johnson, Truman and Carter: In many cases, the offenses pardoned by these Presidents were at least as serious as those I am pardoning today. Independent Counsel Lawrence E. Walsh was appointed in December 1986 to investigate the Iran/Contra affair; subsequently, Walsh brought charges against 14 people. Eleven were convicted; two convictions were overturned on appeal. Two were pardoned before trial, and one case was dismissed when the Bush Administration declined to declassify information necessary for trial.President Bush pardoned six Iran/Contra participants on 24 December 1992. Post-Trial Pardons Elliott Abrams   Pleaded guilty October 7, 1991, to two misdemeanor charges of withholding information from Congress about secret government efforts to support the Nicaraguan contra rebels during a ban on such aid. He was sentenced on November 15, 1991 to two years probation and 100 hours community service. The second President Bush appointed Abrams as Special Assistant to the President and Senior Director on the National Security Council for Near East and North African Affairs. Alan D. Fiers, Jr.   Pleaded guilty July 9, 1991, to two misdemeanor counts of withholding information from Congress about secret efforts to aid the Nicaraguan contras. He was sentenced on January 31, 1992 to one year probation and 100 hours community service. Pardoned. Clair E. George   Indicted September 6, 1991, on 10 counts of perjury, false statements and obstruction in connection with congressional and Grand Jury investigations. Georges trial on nine counts ended in a mistrial on August 26, 1992. Following a second trial on seven counts, George was found guilty December 9, 1992, of two felony charges of false statements and perjury before Congress. His sentencing hearing was February 18, 1993. Pardoned before sentencing occurred. Robert C. McFarlane   Pleaded guilty March 11, 1988, to four misdemeanor counts of withholding information from Congress. He was sentenced on March 3, 1989, to two years probation, $20,000 in fines and 200 hours community service. Pardoned. Pre-trial Pardons Duane R. Clarridge   Indicted November 26, 1991, on seven counts of perjury and false statements about a secret shipment of U.S. HAWK missiles to Iran. The maximum penalty for each count was five years in prison and $250,000 in fines. Trial date set for March 15, 1993. Pardoned. Caspar W. Weinberger   Indicted June 16, 1992, on five counts of obstruction, perjury and false statements in connection with congressional and Independent Counsel investigations of Iran/ contra. On September 29, the obstruction count was dismissed. On October 30, a second indictment was issued, charging one false statement count. The second indictment was dismissed December 11, leaving four counts remaining. The maximum penalty for each count was five years in prison and $250,000 in fines. Trial date set for January 5, 1993, trial date. Pardoned. Dismissal Joseph F. Fernandez   Indicted June 20, 1988 on five counts of conspiracy to defraud the United States, obstructing the inquiry of the Tower Commission and making false statements to government agencies. The case was dismissed in the District of Columbia for venue reasons on the motion of Independent Counsel. A four-count indictment was issued in the Eastern District of Virginia on April 24, 1989. The four-count case was dismissed November 24, 1989, after Attorney General Richard Thornburgh blocked the disclosure of classified information ruled relevant to the defense. The U.S. Court of Appeals for the Fourth Circuit in Richmond, Va., on September 6, 1990 upheld Judge Hiltons rulings under the Classified Information Procedures Act (CIPA). On October 12, 1990, the Attorney General filed a final declaration that he would not disclose the classified information. From the  Walsh Iran/Contra Report. In addition, Bush pardoned Edwin Cox Jr., whose family contributed nearly $200,000 to the Bush familys campaigns and to Republican campaign committees from 1980 to 2000, according to documents obtained by  CNN. Cox pleaded guilty to bank fraud in 1988, served six months in prison and paid $250,000 in fines. In addition, his father (Cox, Sr.) is a Bush Presidential Library trustee who contributed between $100,000 and $250,000 to the Bush Presidential Library. A complete  list of Bushs pardons  (1989-1992) President Clintons Pardons President Clintons most controversial pardon was of billionaire financier Marc Rich. His connection with the political and business elite of both parties demonstrates that the differences among those in power are less distinct than the differences between those in power and those out of power. For  example: After hiring prominent Republican lawyers during the Reagan and Bush administrations- Leonard Garment, former Nixon White House counsel, William Bradford Reynolds, once an official of the Reagan Justice Department, and Lewis Libby, now chief of staff to Vice President Richard Cheney- Rich hired a top Democratic lawyer, Jack Quinn, to give him direct access to Clinton. Quinn, former White House counsel, runs his law practice with Ed Gillespie, a key Bush adviser and former head of the GOP. In addition, Clinton pardoned Susan McDougal (Whitewater), former Housing Secretary Henry Cisneros (lied to FBI investigators about payments to his mistress) and  ex-CIA chief  John Deutch (forced out at the CIA when he contradicted White House claims that U.S. missile strikes on Iraq were effective).Review the  list of Clintons pardons  (1993-2000) President Bushs Pardons As the end of President Bushs term drew near, he had pardoned about half as many people as his prior two-term predecessors, Clinton and Ronald Reagan. Bush has issued pardons for many petty crimes committed decades in the past, ranging from possessing marijuana to moonshining. Just before Thanksgiving 2008,  President Bush pardoned 14 and commuted the sentence  of another two. This brought his pardon total to 171 and commutations total to eight. In one of the most high profile cases of his Administration, that of Scooter Libby, President Bush did not grant a pardon. He did, however, commute Libbys sentence. Another high-profile commuted sentences was that of  hip-hop musician John Forte, who was convicted in 2001 on drug smuggling charges. In Texas. Just  before Christmas, Bush pardoned Isaac Toussie who pleaded guilty in 2001 to using false documents to have mortgages insured by the Department of Housing and Urban Development, and in 2002 to mail fraud, admitting that he had persuaded officials in Suffolk County to overpay for land. Bush rescinded the pardon the next day after press reports revealed that his father, Robert Toussie, recently donated $30,800 to Republicans. Bush let  stand a pardon  issued for Alan Maiss, who had contributed $1,500 to the presidents 2004 re-election campaign; he served one year of probation. In 1995, Maiss failed to report a fellow gaming executives alleged ties to organized crime. Bush had  pardoned 19  and provided clemency for one. See a  list of pardons  and  commutations  granted by President George W. Bush.

Calculate MD5 Hashing for a File or String Using Delphi

Calculate MD5 Hashing for a File or String Using Delphi The MD5 Message-Digest Algorithm is a cryptographic hash function. MD5 is commonly used to check the integrity of files, like to make sure that a file has been unaltered. One example of this is when downloading a program online. If the software distributor gives out the MD5 hash of the file, you can produce the hash using Delphi and then compare the two values to make sure theyre the same. If theyre different, it means the file you downloaded is not the one you requested from the website, and therefore may be malicious. An MD5 hash value is 128-bits long but is typically read in its 32 digit hexadecimal  value. Finding the MD5 Hash Using Delphi Using Delphi, you can easily create a function to calculate the MD5 hash for any given file. All you need is included in the two units IdHashMessageDigest and idHash,  both of which are a part of  Indy. Heres the source code: uses IdHashMessageDigest, idHash; //returns MD5 has for a file function MD5(const fileName : string) : string; var   Ã‚  idmd5 : TIdHashMessageDigest5;   Ã‚  fs : TFileStream;   Ã‚  hash : T4x4LongWordRecord; begin   Ã‚  idmd5 : TIdHashMessageDigest5.Create;   Ã‚  fs : TFileStream.Create(fileName, fmOpenRead OR fmShareDenyWrite) ;   Ã‚  try   Ã‚  Ã‚  Ã‚  result : idmd5.AsHex(idmd5.HashValue(fs)) ;   Ã‚  finally   Ã‚  Ã‚  Ã‚  fs.Free;   Ã‚  Ã‚  Ã‚  idmd5.Free;   Ã‚  end; end; Other Ways to Generate the MD5 Checksum Apart from using Delphi are other ways you can find the MD5 checksum of a file. One method is to use Microsoft File Checksum Integrity Verifier. Its a free program that can be used only on the Windows OS. MD5 Hash Generator is a website that does something similar, but instead of producing the MD5 checksum of a file, it does so from any string of letters, symbols, or numbers that you put in the input box.

Multicultaralism Essay Example | Topics and Well Written Essays - 1250 words

Multicultaralism - Essay Example The various literary works analyzed in the later sections of this essay discusses the socio-political concept of multiculturalism as described by Samuel Selvon in The Lonely Londoners, and Hanif Kureishi in The Rainbow Sign and The Beautiful Launderette. This substantiates the fact that individuals from multicultural backgrounds, including the author himself, desperately crave for secure roots that secures them a place, a notion or a cultural identity of their own. The author’s narratives which take him back to a country of his origin is an attempt to forge a relationship with a land although alien to him secures him a root of his cultural origins thus giving him a sense of belonging and identity which is somehow lost in the multicultural milieu of his migrant country. The book ‘The Lonely Londoners’ by Sam Selvon, is based on the lives and journey of colored immigrants who migrated to the British Isles from West Indies in search of wealth and prosperity. It goes on to describe how the various characters in the story were exposed to racist remarks and discriminatory behavior at the hands of the locals. The story is told in creolized English to give an immigrant flavor to it. The apparent references to the color of these migrants who belong to a host of countries including Jamaica, Nigeria, and Trinidad suggest the discrimination of people belonging alien origins whereby the ‘blacks’ were often paid lower wages on account of their color – an obvious form of racial discrimination.... a relationship with a land although alien to him, secures him a root of his cultural origins thus giving him a sense of belonging and identity which is somehow lost in the multicultural milieu of his migrant country. The Lonely Londoners The book 'The Lonely Londoners' by Sam Selvon, is based on the lives and journey of colored immigrants who migrated to British Isles from West Indies in search of wealth and prosperity. It goes on to describe how the various characters in the story were exposed to racist remarks and discriminatory behavior at the hands of the locals. The story is told in creolised English to give an immigrant flavor to it. The apparent references to the color of these migrants who belong to a host of countries including Jamaica, Nigeria and Trinidad suggest the discrimination of people belonging alien origins whereby the 'blacks' were often paid lower wages on account of their color - an obvious form of racial discrimination. This issue is addressed by one of the characters Gallahad who has been looking for employment in the land and voices his beliefs: "Why the hell you can't be blue, or red or green, if you can't be white' You know is you that cause a lot of misery in the world. Is not me, you know, is you! I ain't do anything to infuriate the people and them, is you! Look at you, you so black and innocent, and this time you causing misery all over the world (Elizabeth, 2002, Pp.156)" The Rainbow Sign In the essay, The Rainbow Sign, the author Hanif Kureishi, describes the pain of a migrant and his view of the world which is blurred, confused and hybrid, and, rarely pure and complete. It describes the loss of being detached from one's roots and the feeling of being tucked away in an alien land but at the same time describing the joys of living

Alcan Paper Five Essay Example | Topics and Well Written Essays - 1250 words

Alcan Paper Five - Essay Example The enterprise has operating facilities across 61 countries with a work force of about 68,000 employees (Dube, Bernier, & Roy, 2009). The organization takes the leading position in production of raw materials, fabricated products and primary metals. The enterprise is involved in creating and selling of a variety of products, which include bauxite, automobile iron, sheet ingot, aluminum recycling services, forging stock (INDUSTRY CANADA, 2005). This paper explores a report of Alcan based on the case studies. The report discusses the application of Information Technology within the Alcan organization and it is a summary of issues addressed in part 1 to part four all of which focused on the Alcan. It addresses a range of issues that concerns Alcan Organization. The issues of concern include the General Systems, Theory and Social-Technical Theory, Organizational Success, Failures and Consequences, Communication Policies, STS Practices, and application of theories within the Organization, the Alcan’s organization and operating technology, technological contributions to the organization, dominant Information Technology strategies and practices, technological barriers or success, the Alcan’s business continuity plan, the company’s organization and operating technology, technological contributions to the organization, dominant Information Technology strategies and practices, technological barriers disaster recovery plan, and business continuity plan. Organization Environment. Alcan Organization has operating facilities across 61 countries with a work force of about 68,000 employees. It has four principal business groups which are: Bauxite and Alumina, Primary Metal, packaging and the engineered products. The four business groups are the main revenue contributors for the organization (Dube, Bernier, & Roy, 2009). The company sells a variety of products, which include bauxite, automobile iron, sheet ingot, aluminium recycling services, forging stock. It is extremely vertically integrated having eight mines and deposits, a transport network with ports and facilities, seven alumina plants, 26 aluminium smelters, 17 laminated products plants, 12 electric power plants, seven alumina refineries, 180 packaging materials plants and 49 engineered products plants (Dube, Bernier, & Roy, 2009). Organizational Structure. The senior management in Alcan Company consists of a CIO and four associates (Dube, Bernier, & Roy, 2009). These associates include: Strategic IT-Program director, Chief information-security- officer director, performance-management director, and the Enterprise Architectural director. Next to these are two services that are shared. One service is for the application, and the next is for infrastructure. In the centre of the ladder, there are different business groups of Information Technology directors. Each business group is headed by an IT director referred to as VP (Dube, Bernier, & Roy, 2009). Challenges Faced by Alcan Organization. Alcan organization is faced with various environmental, economical, social as well as technological challenges. The environmental challenges facing Alcan include sustainable raw material development, industrial waste, air emissions, and water. The company overcomes this challenge by developing a clean manufacturing process and designing a method of recycling the waste products (Foster, 2005). Economic Challenges in Alcan include high costs due to funds misappropriation in the company, ineffective and inefficiency business

Research paper - stdent Absences Essay Example | Topics and Well Written Essays - 1000 words

Research paper - stdent Absences - Essay Example Health related problems for children at school have always been a relevant social issue and the steps to reduce the impact are not new. The use of the nursing profession in school environments to reduce the impact of health related problems goes back by more than a hundred years. The focus of such activity was to reduce the spread of communicable diseases and diseases that have their origin in poor hygiene. The focus of activities and programs related to reducing health related problems of children at school remains the same even today (Wolfe & Selekman, 2002). Frequently encountered causes of health problems related to school absence by students find their origins in gastrointestinal and respiratory infections (Sandora, Shih & Goldman, 2008). According to Moonie et al 2008, absenteeism from school results in lower grades for the students and reduced psychological, social and educational interaction for these students. These factors cause schools to be alert to emerging health problems that could cause children to keep away from classes and to take steps to evaluate any such evolving causes and initiate action to remove the source or reduce its impact (Moonie et al, 2008). The band master of Truman Middle School in his report to the Principal has observed that on Wednesday, May 20, one-third of the students who were supposed to attend the band class did not attend the class. The Principal is reminded of an earlier occasion, when students absented themselves from school activities due to an outbreak of flu and requests assistance in determining whether a heath related problem exists and the possible measures to be taken to address it (Messages). Truman Middle School does have a health problem that may be either an outbreak of viral infection or from gastrointestinal infection that originates from the poor food hygiene practices at the food

Challenges in Hiring Talent Research Paper Example | Topics and Well Written Essays - 750 words

Challenges in Hiring Talent - Research Paper Example Prince (25), states that there has been a 10 % decline in the average quality of a worker since 2004. This has prompted companies to redouble efforts aimed at hiring the best candidates for the job at whatever cost. Between 1946 and 1964, America experienced massive economic growth that triggered the emergence of more companies and the increase in profitability of businesses in the country (Yates 47). During this time, a new breed of talented and driven managers, entrepreneurs and personnel also emerged, supported by the emergence of ‘baby boomers’ that propagated economic growth and increase in population. The last decade has seen the retirement of a large percentage of these individuals, and a large vacuum has been left that may not be filled as soon as is expected. Businesses have therefore found it paramount to ‘fish’ for the best and most qualified people by employing whatever means necessary to make them a part of their vision. Apart from a decline in the quality of workers available and the shrinking of the pool from which companies used to draw their workers, there has been a great shift in the type of individuals required in the workplace. Between 1946 and 1964, there was a massive increase in manufacturing, spurred by an increase in demand for industrial products and goods (Gilmore 34). A lot of emphasis was therefore laced on the need for workers who could support the manufacturing process, and this called for individuals who mainly had to follow procedures and carry out instructions as required. Little reasoning and judgment was required in these types of jobs that can also be referred to as transactional or transformational. A change in needs, priorities and focus has left companies with no option but to scout for intelligent and clear-thinking people who can make decisions on their own and come up with solutions to problems without relying on their seniors. These types of workers are also good team players who are capable of working with other employees for the benefit of the company (Noe 76). This can be attributed to the emergence of a new type of jobs that are classified under the tacit category, in which intellectual capability and contribution is preferred over physical labor. Question 2: Incentives (apart from salary) that a Company may use to Encourage a Prospective Employee to Accept a Job Offer With the changes taking place in the workplace, companies appreciate the fact that better or higher remuneration is no longer sufficient when looking to hire employees. Other factors have now been found to play a huge role in the ability of a company to not only hire but also retain the best workers (Hunt 59). These factors include opportunities for growth, good working conditions, good moral and ethical values and an appreciation of current and prospective employees. Employees need to know that they can grow in a company and become better at what they do. Nobody wants to work for 10 years in the sam e position when there are other avenues for growth elsewhere. For instance, I may be paid $100,000 a year to head the sales and marketing department in a company, but I may not be willing to remain in the same position (especially if I deserve to be promoted). If a sales representative rises to be my deputy and I am still holding the same position I have had for the last 10 years then I am not growing on my job. The salary may be attractive but growth is more important. When hiring