Cat in the Rain by Ernest Hemingway Essay Example for Free

Cat in the Rain by Ernest Hemingway Essay The story under the title â€Å"Cat in the Rain† was written by Ernest Hemingway, one of the most favourite American novelists, short-story writer and essayist, whose deceptively simple prose style has influenced wide range of writers. So, the story begins with the description of the hotel where two Americans stopped. It was raining, that’s why the couple stayed in and just a cat in the rain attracted the young woman’s attention. She wanted to get the cat inside but failed and was brought another cat. The problem of the story lies very deeply and we are to uncover it. The story is written in one mood which constantly and directly increases. It starts from the beginning where it’s created by a persistent and repeated use of the â€Å"rain† with a number of phrases associating it, such as puddles, deserted square, glistening war monument. Repetition is one of the widely used and favourite stylistic devices of Hemingway. Here he applies it to reveal the relationship of the protagonist to the old hotel owner (she liked , she liked ). As the verb â€Å"to like† is not used to characterize relations of the wife to her husband, this contrast is full of the concealed but easily read meaning. Though the cases of repetition in the story may seem a bit obtrusive, their modifications enter into the core of the narration very organically. They carry emotional character, however penetrating the story the deep sorrow becomes evident gradually. We realize that little, as if meaningless, capricious wishes of a young woman reveal the drama of her fate, the absence of comfort in her life, comparable with the cat in the rain. The title of the story anticipates this confrontation and the fact that the cat’s image makes great play twice – just increases the total effect. In fact, the young woman pines for love, for home, for her family. And the purring cat she’d like to have and to stroke is a traditional symbol of home and comfort she lacks so much. She wants warmth, attention, care, joy, happiness; however she is brought the cat – a pitiful substitution of that, what she, a young, beautiful woman needs incredibly. This is the main problem of the novel we tried to uncover. Perhaps the hotel owner didn’t get the reason of her yearnings and took her wish for whim. But dignity, deference and respectfulness of the old man are confronted to egoism and carelessness of George not occasionally. The war monument is also mentioned deliberately. The world George and his wife belong to – is uncomfortable, homeless after-war world, where the fates of young people joined with such hardships and troubles. If to speak about the text itself, it is told in the 3rd person narrative. the description is interlaced with descriptive passages and dialogues of the personages. The author makes extensive use of repetitions to render the story more vivid, convincing, more real and emotional. The authors style is remarkable for its powerful sweep, brilliant illustrations and deep psychological analysis. Everything he touches seems to reflect the feelings of the heroes. The story reveals the authors great knowledge of mans inner world. He penetrates into the subtlest windings of the human heart.

Free Admissions Essay - Sojourn to Medicine :: Medicine College Admissions Essays

Admissions Essay -  Sojourn to Medicine    On the first day that I walked into the Church Nursing Home, I was unsure of what to expect. A jumble of questions ran through my mind simultaneously: Is this the right job for me? Will I be capable of aiding the elderly residents? Will I enjoy what I do? A couple of hours later, these questions were largely forgotten as I slowly cut chicken pieces and fed them to Frau Meyer. Soon afterwards, I was strolling through the garden with Herr Schmidt, listening to him tell of his tour of duty in World War II. By the end of the day, I realized how much I enjoyed the whole experience and at the same time smiled at the irony of it all. I needed to travel to Heidelberg, Germany to confirm my interest in clinical medicine.    Experiences like my volunteer work in the German nursing home illustrate the decisive role travel has played in my life. For instance, I had volunteered at a local hospital in New York but was not satisfied. Dreams of watching doctors in the ER or obstetricians in the maternity ward were soon replaced with the reality of carrying urine and feces samples to the lab. With virtually no patient contact, my exposure to clinical medicine in this setting was unenlightening and uninspiring. However, in Heidelberg, despite the fact that I frequently change diapers for the incontinent and deal with occasionally cantankerous elderly, I love my twice weekly visits to the nursing home. Here, I feel that I am needed and wanted. That rewarding feeling of fulfillment attracts me to the practice of medicine.    My year abroad in Germany also enriched and diversified my experience with research. Although I had a tremendously valuable exposure to research as a summer intern investigating chemotherapeutic resistance in human carcinomas, I found disconcerting the constant cost-benefit analysis required in applied biomedical research. In contrast, my work at the University of Heidelberg gave me a broader view of basic research and demonstrated how it can expand knowledge -- even without the promise of immediate profit. I am currently attempting to characterize the role of an enzyme during neural development. Even though the benefit of such research is not yet apparent, it will ultimately contribute to a vast body of information which will further medical science.    My different reactions to research and medicine just exemplify the intrinsically broadening impact of travel.

In-class Internet Use and Grades Essay

The use of internet in a classroom has provided only a few visible advantages to the students: search immediate answers to questions asked by the instructor, and familiarity with the use of technology, which may be used by them in the later stages of their professional career. However, an in-class internet use has several adverse consequences, including, distraction to oneself, neighboring students as well as the instructor, and abuse of internet technology when the students watch porn, or indulge in chatting, whereas their attention should be on the valuable focused content being taught by an experienced professor. Based on the findings from University of Colorado in Boulder, Fischman (2009) reported that a professor was instrumental in reducing the use of laptops in her classroom when she proved to the students that their grades were lower when they used the laptops in the classroom, while the grades were much higher when they stopped using the laptops in the classroom. Fischman highlighted that the internet connectivity of classrooms was a major problem all over the country since the students distract others by watching movies in the classroom. As a result, several universities had banned the use of laptops in the classrooms, while some had declared laptop-free zones. Anderson (2006) summarized the shocking results of a survey conducted by Michigan State University, which revealed that 20% of students using excessive internet, had either withdrawn from a course, or had shown lower grades; in comparison to only 8. 5% students with alcohol abuse problems, who had shown poor academic performance. Timmer (2009) claimed that in-class internet use spoils discipline in a leaning environment since the students from US Military Academy at West Point were distracted when they indulged in internet chatting. Thus, it can be concluded that in-class internet use is more of a bane than a boon for the inquisitive students as well as the experienced instructors. References Anderson, N. (September 20, 2006). Internet replaces Jack Daniel’s as â€Å"Best excuse for a C Average. † Ars Technica. Retrieved April 21, 2009, from http://digg. com/d12unJ Fischman, J. (March 16, 2009). Students stop surfing after being shown how in-class laptop use lowers test scores. Wired Campus. The Chronicle of Higher Education. Retrieved April 21, 2009, from http://chronicle. com/wiredcampus/article/3662/when-shown-how-in-class-laptop-use-lowers-test-scores-students-stop-surfing Timmer, J. (March 16, 2009). In-class laptop use sparks backlash, possibly lower grades. Ars Technica. Retrieved April 21, 2009, from http://arstechnica. com/science/news/2009/03/in-class-laptop-use-may-be-sparking-a-backlash. ars

Persona Of Harriet Tubman - Free Essay Example

Sample details Pages: 7 Words: 2095 Downloads: 9 Date added: 2019/06/14 Category History Essay Level High school Tags: Harriet Tubman Essay Did you like this example? Throughout history, women have fought for their rights to be treated as equals with the opposite gender. Evidence of this has been seen countless of times, but it has become more popular as our society has progressed. Some women are remembered with compassion and thankfulness for their actions. Don’t waste time! Our writers will create an original "Persona Of Harriet Tubman" essay for you Create order Among them, there is Harriet Tubman, famous for freeing hundreds of slaves with the aid of the Underground Railroad. As a fugitive, it must have been terrifying thinking of everything that could happen if she was to be caught. However, even as she made it to freedom, her willingness for equality did not stop her from going back and forth to the South, establishing a permanent mark on the future of the abolitionist movement. This research addresses Harriet Tubmanrs determination to keep going without regrets that led her to free over 300 slaves from bondage. Growing up, Harriet had to overcome some difficult moments in her life that must have prepared her for the risk-taking journeys she took later on. Miss Susan, one of the first masters Tubman was hired off to, tasked her with cradling her baby, but if it wailed, she would get ruthlessly whipped. Having this happen regularly at night was a bad first experience, but it taught her a lot at the same time. Were it not for these long nights of torment, she might have never stayed focused in the dark, tiresome nights she spent with the Underground Railroad. In addition, she got the bad luck of living her childhood surrounded by mobs and bogeyman against blacks. These groups of people accounted for an innumerable amount of manslaughters directed towards slaves and kidnappings that scarred Harriet for life. Even during her rescue missions traveling back to the South, she could not bear to stand the dreadful and devastating view of passing by plantations of her people suffering the barbarous treatments of slavery. These recollections made her wish for a world where this did not exist, which is how she was set on going to the north. In an account of Sarah H. Bradfordrs Scenes in the Life of Harriet Tubman, Harriet describes to Sarah her ideal dream I seemed to see a line, and on the other side of that line were green fields, and lovely flowers. This was what she was going to fight for, and she was not going to stop until it was achieved. In Catherine Clintonrs Harriet Tubman: The Road to Freedom, the author argues that the most horrifying thing that could happen to a slave were auction blocks, rather than toiling in the fields, which is exactly how two of Tubmanrs sisters never saw each other ever again. This loss had a tremendous impact on Harriet that it became the catalyst of her decision to go North. It opened her eyes to all the injustices done to blacks that she became determined in making sure it would not happen to anyone. Once she reached freedom for herself, she felt like a stranger in a strange land. She knew the burdens that slavery could have on a person, and she did not want to be alone knowing her family was still suffering from them, so she had to go back to liberate them. Harrietrs niece and her two children were to be sold off, but Harriet managed to rescue them and did not hesitate once. This was a very dangerous plan to orchestrate because back then, this was Harrietrs first trip back to her home ever since she escaped, so she lacked the resources she had obtained later on. Regardless, she made the trip, corroborating that family was one of her strongest motivators to not give up on her journeys. Even though she left her parents last to be taken to the North, it was a smart plan because of their age. Making two old, tired people walk long distances is a challenge, but it was one Harriet was determined to accomplish. Harriet carefully thought that she should take the more sustainable, younger slaves so that slaveowners ran out of options as to who to sell eventually in slave auctions. Because of her tactical mind, Tubman succeeded in her goals. As a slave, it was hard not to get caught between the fearful moments inside a plantation. To get through these tough times, Harriet Green and Benjamin Ross, Tubmanrs parents, kept their family bond strong and stable with their religion. It helped develop what made Harriet Tubman one of the bravest and most determined black woman of her time, and that is her faith in God. During the time that she became one of the most notorious fugitives in America, the price set for her head was huge, ranging anywhere from $12,000 to $40,000. Nevertheless, when asked how she kept moving forward while knowing this fact, she said Twas de Lord! I always tole him, ?I trust to you. Even though she did not know the way or was in absolute danger of getting caught, she relied on God to help her succeed. In an article from The Richmond Palladium, a story about how Harriet asked God what she must do while escaping the South is described in such a way that it paints religion into a light of hope for people to follow. When God told her to go left, she obeyed, and soon after that, she found out that the side where God prohibited her to go to was where a searching party of men looking for her was walking by. Everyone that knew her was impressed by how self-assured she was in her faith. A letter written by Thomas Garret, a Wilmington Quaker, quotes She (Harriet) has frequently told me she talked with God, and he talked with her every day. The only fact that Harriet Tubman was confident about was that God was going to be by her side every step of the road, whether it was mentally or physically. Tubman was surrounded by important people in her life who inspired her to do better. Not only did her parents imply faith in her, but they also set up a great example of strong-will for her, especially her mother. When one of her children was going to be sold away to a Georgia man, Harriet Green was determined to keep him hidden, claiming the first man that comes into my house, I will split his head open. This shows that Tubmanrs mother was a strong-minded woman who would stop at nothing to get what she wants, foreshadowing to her daughterrs persistent trips to free her people from slavery. It is clear Harriet Tubmanrs mother was a great role model for her. Afterwards, Edwards Brodess, her master at the time, promised to give the family their freedom when he died if they stay loyal to him. This sounds similar to Harriet Tubman, as she tended to obtain the respect from her fugitive followers and of white people she worked with because of her actions. The 19th century was a time of rebellious movements from abolitionists towards whites. These kinds of rebels would often inspire Tubman into her own journeys. One of the most famous persons involved in this was John Brown. In a letter to his son the day after he met Tubman, John describes her as the most of a man, naturally, that I have ever met with. John Brown truly believes that Harriet Tubman has the mentality of a man at that time because shers strong, independent, and a reliable soldier. Just as he admires Tubman, Harriet has respect for Brown as well. Because of this, it makes her even more determined to go after her goals of freeing slaves without giving up. Derers two things Ive got a right to, and dese are, Death or Liberty one or tother I mean to have. This quote perfectly describes Harrietrs intentions to be similar to that of John Brown, who ended up dying when he didnt get liberty for blacks. Although he did not have any face-to-face contact with Tubman, Nat Turner was an abolitionist who encouraged Harriet into her aspiration for freedom. One of the most popular black uprisings of the century was Nat Turnerrs revolt of 1831, where him and his crew killed over sixty whites less than a hundred miles from where Tubmanrs home was at the time. Although this event was seen as terrifying for the whites, it was exhilarating for the black community, from which young Tubman was a part of. Nat Turner must have been a big influencer for Harrietrs bold personality that led her to become a national hero. Regardless of the revolt being a massacre, Turner had obvious beliefs, one of which included that blacks should not be treated as property. Harriet Tubmanrs revolt to make her belief come true was to free slaves. During her constant trips, the slaves who accompanied her were obviously scared. To calm them down, Tubman sang verses to them such as Hail, oh hail ye happy spirits, Death no more shall make you fear. These words would not only flow beautifully within the fugitives but also in Tubman herself. The goal of her music was to keep her people strong, so when they were ready to keep moving, Harriet could not give up on her already lifted up followers. Whether she realized it or not, the song meant for the fugitives was also a glimpse of hope for herself. Harriet Tubman believed that she could foretell the future, which was a great asset in her determination. She claims that when she came to the North for the first time, one of the visions she had when she was younger replayed itself in real life exactly the way she remembered. That is why she constantly rescued slaves from the South without a second thought. She believed that any dream she could possibly have would become true. She was so assured of this because her father also had similar powers, given that he somehow predicted the outcome of the Mexican war. Knowing the amount of faith in God that she had, she still could not have stayed on track if it was not for the help of friends and white co-workers. Passes were given to her by people who worked with her during the Civil War, allowing her ease of transportation, entrance to a building, or just to grab whiskey. If a white man did all the work Harriet achieved, it would have been easier to free slaves by simply crossing them over, only having to hide the slaves and not himself. That was not the case, so Tubman, as a spy for the Civil War, used these passes to do what she was appointed to do plus help lead rescue missions to free slaves deep into the occupied South Carolina. Some might argue that because Harriet Tubman was very determined, her actions showed to be too extreme at times. One of her most famous quotes Dead niggers tell no tales depicts how Harriet would often threaten slaves into not giving up, because if they did, she would kill them. In contrast, this did show how smart she was, because even if she let one person go back to the South alive, the chance of Harrietrs plan coming out to the public would have always been a possibility. Harriet Tubman was a woman that made history by freeing countless of slaves without feeling content with freedom just for herself. Her fearless and intrepid personality is an abstract subject that has many reasons behind how it was formed and kept steady throughout her trips. What made her so special is that she kept putting herself in danger for an estimated amount of 19 times, even though Tubman herself never kept track of the number of her trips. Almost any book or article about Harriet Tubman will say that it is unknown how Harriet built up the courage to go back to the South, but they do not realize that the answer lays in the events of her life, beliefs, and people she encountered rather than just on hard facts that most historians rely on. All in all, Tubman was a remarkable woman with an amazing story behind her actions. Bibliography Primary Sources Bradford, Sarah H. Scenes in the Life of Harriet Tubman Auburn, NY: Dennis Brors Co., 1869. The Richmond palladium. (Richmond, Ind.), 23 March 1869. Chronicling America: Historic American Newspapers. Lib. of Congress. Secondary Sources Clinton, Catherine. Harriet Tubman: The Road to Freedom New York: Little, Brown and Company, 2004. Lowry, Beverly. Harriet Tubman: Imagining a Life New York: Doubleday, 2007.

Lack of Exercise Among College Students Essay - 691 Words

Lack of Exercise among College Students For most people it is common knowledge that maintaining an active lifestyle and exercising on a daily basis is essential to a healthy life, research shows that approximately fifty percent of all college students see a decrease in regular exercise following high school graduation (Kilapatrick 2005). The decline of regular exercise displays a problem in more then a few colleges; the correlation of increased sedentary lifestyle and decreased physical activity is a national issue throughout all colleges and universities. Scientific data shows a decline in the level of physical activity in students from high school to college. Approximately only 38 percent of college students regularly participate in†¦show more content†¦Data shows a trend between gender and motivation to participate in physical activity. There was a study performed on university students that were enrolled in undergraduate health and kinesiology classes. The university stu dents were asked to complete a survey indicating the amount of exercise they participated in and their motivation for the physical activity. Physical activity can be divided into two sub-groups: exercise and sport participation. The results showed that the motivation varied depending on the type of physical activity (Kilpatrick 2005). Five types of motivation were tested: challenge, competition, social recognition, strength and endurance and weight management. Men had higher motivations for challenge, competition, social recognition and strength and endurance. These motivations are strongly correlated with sport participation. On the other hand, women had more motivation for weight management, which correlates with general exercise. An interesting result reported; both men and women strongly correlated positive health and weight management with general exercise such as going to the gym or running. (Kilpatrick 2005). While gender plays a contributing factor in how college students ex ercise, the principal factors that serve as barriers are lack of motivation and time. The majority of a college student’s time is spent attending classes, doing homework, and studying for exams†¦.hopefully. The academic load often drains outShow MoreRelatedExercise Among College Students : Exercise1182 Words   |  5 Pagesdon’t exercise at all. Although exercise is encouraged to Americans the obesity rates continue to increase. College students are vulnerable to weight gain because of the environment and obstacles that surround them. A survey was conducted at the University of Texas at El Paso asking the students questions towards exercising. This literature review will inform the reader how exercise plays an important role in a student’s life benefiting them in a variety of ways. Exercise amongRead MoreThe Importance Of Physical Education1361 Words   |  6 Pages Today’s generation of college students have been infected with social media poisoning, which places little to no importance on physical activity. Their idea of exercise consists of how fast their fingers type. Immediate changes need to be implemented in the education system to avoid serious long-term effects. College physical education courses are designed to promote a healthy lifestyle through education and exercise. The main objective of the education system incorporating physical educationRead More Critiquing Internet Sources The author is keen in analyzing the issue of excessive consumption of800 Words   |  4 PagesInternet Sources The author is keen in analyzing the issue of excessive consumption of alcohol among college students. He acknowledges that excessive drinking is a common problem among college and university students and wants to explore why such students indulge in such a risky behavior. 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What areRead MoreMental And Physical Health Of College Students1469 Words   |  6 Pages Literature Review: Mental and Physical Health of College Students Jackie Brocious Misericordia University Literature Review: Mental and Physical Health of College Students This paper is focused on the sub-topic of mental and physical health of college students, either within healthcare-related fields or general graduate programs. This sub-topic is a branch of our group’s research purpose of identifying the occupational therapy (OT) student’s perception and confidence with an OT programRead MoreHealthier Food And Lifestyle Options For Uah Students Essay1332 Words   |  6 PagesHealthier Food and Lifestyle Options for UAH Students Obesity is a growing factor in the United States. Data confirms that there is an increase in fast food dining facilities across the United States as well as a decrease in nutritional information. Without an immediate change in this trend, obesity among young adults, specifically college students, will continue to rise above average. Colleges and universities should start providing healthier food options for students to choose from, offer healthy livingRead MoreNewton s First Law Of Motion Essay1458 Words   |  6 Pagestwenties. Because a major portion of this age category is in college, it is crucial for universities and community colleges to provide physical education to help students achieve and maintain a standard level of physical and mental fitness outside and inside the classroom. At one time, the American physical education programs were producing strong bodied and strong willed children. The common gymnasium was no less than an arena for students to release pent-up energy and to display their physical abilities

Marriage Is The Most Important Role - 969 Words

Marriage is the most valued human relationship and a central goal in our life. Most people want for themselves and their children a good and lasting marriage, because marriage plays an important role in them to find meaning, happiness and fulfillment in life. These presentations provide guidance on how to achieve a healthy marriage. Marriage seals our most central destination, that is to find the meaning and value of life and love. Naturally, marriage has social, economic and biological functions, duties and responsibilities that are assumed as a couple. Marriage is the most basic and universal, with responsibility for raising children and caring for family members’ social institution. The researchers say: â€Å"Literally in every society studied by historians and anthropologists, one finds the marriage.† Since marriage has its dimensions in the emotional, social and procreative field, a contract in most societies ago. Marriage often marks the transition between adolescence and adulthood. In more traditional cultures, marriage is not matter of individuals, because two family lines come together. In marriage, people have obligations to the community and to a network of relatives. Marriage also define the vertical and horizontal position in society. There is growing evidence that healthy and lasting marriages bring many benefits to the husband, wife and children. 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Financial Analysis of Microsoft Corporation Free Essays

Introduction BACKGROUND OF MICROSOFT Microsoft is the most prominent technology corporation in the world that deals with computers according to posts from big history.net. ’’ With annual revenues of more than $32 billion, Microsoft Corporation is more than the largest software company in the world: it is a cultural phenomenon. We will write a custom essay sample on Financial Analysis of Microsoft Corporation or any similar topic only for you Order Now The company’s core business is based on developing, manufacturing, and licensing software products, including operating systems, server applications, business and consumer applications, and software development tools, as well as Internet software, technologies, and services’’. http://www.fundinguniverse.com/company-histories/Microsoft-Corporation-Company-History.html ‘’The name of the famous person – Bill Gates comes in one’s mind with mention of the name of Microsoft. He is the founder of the company and is believed to be the smartest programmers ever.’’ http://www.bighistory.net/microsoft-a-short-history/. Led by him, Microsoft had witnessed its heydays and has been able to have its product on almost every personal computer in the world, and in the process creating standards in the technology industry as well as market re-definition. ‘’Gates was first exposed to computers at school in the late 1960s with his friend Paul Allen, the son of two Seattle librarians. By the time Gates was 14; the two friends were writing and testing computer programs for fun and profit. In 1972 they established their first company, Traf-O-Data, which sold a rudimentary computer that recorded and analyzed traffic data. Allen went on to study computer science at the University of Washington and then dropped out to work at Honeywell, while Gates enrolled at Harvard. Inspired in 1975 by an issue of Popular Electronics that showed the new Altair microcomputer kit just released by MITS Computer, Gates and Allen wrote a version of BASIC for the machine. Later that year Gates left college to work full time developing programming languages for the Altair, and he and Allen relocated to Albuquerque, New Mexico, to be near MITS Computer, where Allen took a position as director of software development. Gates and Allen named their partn ership Micro-soft’’. http://www.fundinguniverse.com/company-histories/Microsoft-Corporation-Company-History.html. The word Microsoft was developed from two different words, micro from microcomputer and soft from software. The name was registered in New Mexico with the secretary of state in November 1976. On November 1978, the first international office of Microsoft was established in Japan and its name was ASCII (American Standard Code for Information Interchange). It is now known as Microsoft Japan. In January 1979 the company’s headquarters was moved to Bellevue Washington. http://www.bighistory.net/microsoft-a-short-history/. In the early 80’s, Microsoft witnessed a period of great success when IBM contracted the company to develop an operating system for its personal computers (PC), which was underway. In the late 80’s Microsoft issued IPOs (initial public offering) of over two million shares and in the space of one year the price or the shares tripled and in the process making Gates a billionaire at about thirty years of age. Nonetheless, the company had lots of critics and legal cases against it from competitors and the likes. Microsoft success was further heightened by the tech bubble of the 2000 following the release of the windows XP, windows 2000,the acquisition of Visio corporation which stood as the largest acquisition in the life of Microsoft so far with transaction value of about One and half a billion dollars. The company also spread its tentacles into the world of gaming with their popularly known X-BOX which has remained a success till date. DESCRIPTION AND ANALYSIS OF MICROSOFT’ PERFORMANCE OVERTIME Key Dates: 1975: Microsoft is founded by Bill Gates and Paul Allen; they sell BASIC, the first PC computer language program to MITS Computer, Microsoft’s first customer. 1981: Microsoft, Inc. is incorporated; IBM uses Microsoft’s 16-bit operating system for its first personal computer. 1982: Microsoft, U.K., Ltd. is incorporated. 1983: Paul Allen resigns as executive vice-president but remains on the board; Jon Shirley is made president of Microsoft (he later becomes CEO); Microsoft introduces the Microsoft Mouse and Word for MS-DOS 1.00. 1985: Microsoft and IBM forge a joint development agreement. 1986: Microsoft stock goes public at $21 per share. 1987: The Company’s first CD-ROM application, Microsoft Bookshelf, is released. 1990: Jon Shirley retires as president and CEO; Michael R. Hallman is promoted in Shirley’s place; the company becomes the first PC software firm to surpass $1 billion of sales in a single year. 1992: Bill Gates is awarded the National Medal of Technology for Technological Achievement. 1993: The Company introduces Windows NT. 1995: Bill Gates publishes his first book, The Road Ahead. 1996: The Company acquires Vermeer Technologies and its software application, FrontPage. 1997: The Justice Department alleges that Microsoft violated a 1994 consent decree concerning licensing the Windows operating system to computer manufacturers. 1998: The U.S. Department of Justice files two antitrust cases against Microsoft, alleging the company had violated the Sherman Act. 2000: The Company acquires Visio Corporation, its largest acquisition to date. 2001: Microsoft Windows XP is released internationally. 2003: Microsoft launches Windows Server 2003. 2007: Microsoft launches Windows vista 2009: Microsoft launches windows 7 Source: http://www.fundinguniverse.com/company-histories/Microsoft-Corporation-Company-History.html Balance sheet for Microsoft Corporation as at 30th June 2011. (Annually) Assets [+]in Millions of Dollars 06/2010 06/2009 06/2008 06/2007 06/2006 Cash and Equivalents5,505 6,076 10,339 6,111 6,714 Restrictable Cash– – – – – Marketable Securities31,283 25,371 13,323 17,300 27,447 Accounts Receivable13,014 11,192 13,589 11,338 9,316 Loans Receivable– – – – – Other Receivables– – – – – Receivables13,014 11,192 13,589 11,338 9,316 Inventories, Raw Materials172 170 417 435 465 Inventories, Work in Progress16 45 31 148 – Inventories, Purchased Components– – – – – Inventories, Finished Goods552 502 537 544 1,013 Inventories, Other– – – – – Inventories, Adjustments Allowances– – – – – Inventories740 717 985 1,127 1,478 Prepaid Expenses– – – – – Current Deferred Income Taxes2,184 2,213 2,017 1,899 1,940 Other Current Assets2,950 3,711 2,989 2,393 2,115 Total Current Assets55,676 49,280 43,242 40,168 49,010 Land and Improvements526 526 518 428 362 Buildings and Improvement8,187 7,824 6,030 4,247 3,146 Machinery, Furniture and Equipment7,546 6,732 5,996 4,691 3,715 Construction in Progress– – – – – Fixed Assets, Other– – – – – Fixed Assets, Total16,259 15,082 12,544 9,366 7,223 Gross Fixed Assets16,259 15,082 12,544 9,366 7,223 Accumulated Depreciation(8,629) (7,547) (6,302) (5,016) (4,179) Net Fixed Assets7,630 7,535 6,242 4,350 3,044 Intangibles1,158 1,759 1,973 878 539 Cost in Excess12,394 12,503 12,108 4,760 3,866 Non-Current Deferred Income Taxes– 279 949 1,389 2,611 Other Non-Current Assets9,255 6,532 8,279 11,626 10,527 Total Non-Current Assets30,437 28,608 29,551 23,003 20,587 Total Assets86,113 77,888 72,793 63,171 69,597 Liabilities [+]in Millions of Dollars 06/2010 06/2009 06/2008 06/2007 06/2006 Accounts Payable4,207 5,008 4,034 3,247 2,909 Short Term Debt1,000 2,000 – – – Notes Payable– – – – – Accrued Expenses– – – – – Accrued Liabilities3,283 3,156 2,934 2,325 1,938 Deferred Revenues13,652 13,003 13,397 10,779 9,138 Current Deferred Income Taxes– – – – 1,557 Other Current Liabilities4,005 3,867 9,521 7,403 6,900 Total Current Liabilities26,147 27,034 29,886 23,754 22,442 Long Term Debt4,939 3,746 – – – Deferred Income Tax229 – – – – Other Non-Current Liabilities8,623 7,550 6,621 8,320 7,051 Minority Interest– – – – – Capital Lease Obligations– – – – – Preferred Securities of Subsidiary Trust– – – – – Preferred Equity Outside Shareholders’ Equity– – – – – Total Non-Current Liabilities13,791 11,296 6,621 8,320 7,051 Total Liabilities39,938 38,330 36,507 32,074 29,493 Preferred Shareholder’s Equity– – – – – Common Shareholder’s Equity46,175 39,558 36,286 31,097 40,104 Common Par62,856 62,382 62,849 – – Additional Paid in Capital– – – 60,557 59,005 Cumulative Translation Adjustments– – – 149 – Retained Earnings(16,681) (22,824) (26,563) (31,114) (20,130) Treasury Stock– – – – – Other Equity Adjustments– – – 1,505 1,229 Total Capitalization51,114 43,304 36,286 31,097 40,104 Total Equity46,175 39,558 36,286 31,097 40,104 Total Liabilities Shareholder’s Equity86,113 77,888 72,793 63,171 69 Closing price =$25.51 Volume sold =25.16m Source:http://www.answers.com/main/dsdata?dsid=2940templateid=0cid=27590212qm_page=30703. [Accessed 4 April 2011]. With more descriptive statistics, we can also examine the performance of Microsoft on a monthly basis from the year 1988- 2009 using returns (unit%) See excel for descriptive statistics. Microsoft return (unit %) Market return (unit %) Mean0.021622876 Mean0.857870722 Standard Error0.00618845 Standard Error0.269942879 Median0.022084196 Median1.41 Mode0.064221396 Mode1.78 Standard Deviation0.100359793 Standard Deviation4.377737838 Sample Variance0.010072088 Sample Variance19.16458858 Kurtosis1.421423202 Kurtosis1.709578314 Skewness0.366537791 Skewness-0.812673531 Range0.751310392 Range29.51 Minimum-0.343529412 Minimum-18.46 Maximum0.40778098 Maximum11.05 Sum5.686816298 Sum225.62 Count263 Count263 From the descriptive statistics above, Microsoft has a positive skewness unlike the market whose skewness is negative, this indicates that Microsoft has a better flow or return than the market. It could also be noted that Microsoft is (1) standard deviation away from its mean whereas the market is (4) standard deviation away from its mean, this means that the returns of Microsoft had not been too volatile over the years and return on stocks are less risky. COMPARISON OF MOCROSOFT PERFORMANCE WITH SP 500 (MARKET) USING T-TEST See t-test on Excel H0: Microsoft did not outperform the market H1: Microsoft outperformed the market t-Test: Paired Two Sample for Means Variable 1 Variable 2 Mean0.021622876 0.857870722 Variance0.010072088 19.16458858 Observations263 263 Pearson Correlation0.539530773 Hypothesized Mean Difference0 df262 t Stat-3.136067434 P(T=t) one-tail0.000953757 t Critical one-tail1.650690284 P(T=t) two-tail0.001907515 t Critical two-tail1.969059657 Conclusion: From the t-Test above, since the t-stats is greater in value than the t -critical (irrespective of the -ve sign), we need to accept the alternative hypothesis (H1) which says that Microsoft outperformed the market and reject the Null hypothesis (H0) which says that Microsoft did not outperform the market. We can also infer this conclusion by looking at the P- value, here we can see that the p- value is less than the significance level of .05, therefore we need to accept the alternative hypothesis (H1). ANALYSIS OF MICROSOFT PERFORMANCE WITH CAPM Regression Statistics Multiple R0.258985259 R Square0.067073365 Adjusted R Square0.063498933 Standard Error0.185690508 Observations263 ANOVA df SS MS F Significance F Regression1 0.647027164 0.647027164 18.764764 2.11102E-05 Residual261 8.999531777 0.034480965 Total262 9.646558942 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept-0.32415329 0.011530623 -28.1123831 6.17385E-81 -0.346858177 -0.30145 -0.34686 -0.30145 X Variable 10.011371441 0.002625088 4.331831484 2.11102E-05 0.006202393 0.01654 0.006202 0.01654 CAPM :- E(R)=RF+?[RM-RF] By substituting the CAPM formula into the regression, we have Y= ?+?x+e Y = dependent variable ? = intercept ? = co-efficient of independent variable e =error When x=0, ? is an estimate of Y, then excess return of Microsoft would be given as: Excess return= -0.32415329+0.011371441+0.185690508 Adjusted R Square = 0.063498933 The adjusted R Square indicates that 6.3% of the variability in the excess return of Microsoft is explained by the market. I.e. for every percentage change of return in the market, Microsoft’s return changes by 6.3%. BIBLIOGRAPHY Andrews, Paul. How the Web Was Won: Microsoft from Windows to the Web: The Inside Story of How Bill Gates and His Band of Internet Idealists Transformed a Software Empire. New York: Random House, 1999. Consuming, Michael A., Microsoft Secrets: How the World’s Most Powerful Software Company Creates Technology, Shapes Markets, and Manages People, New York: Free Press, 1995, 512 p. Desmond, Edward W., â€Å"Microsoft’s Big Bet on Small Machines,† Fortune, July 20, 1998, pp. 86-90. â€Å"EU, Microsoft Clash Over Monopoly Ruling,† Associated Press, April 29, 2004. Evers, Joris, â€Å"Ballmer: Windows Server 2003 Does More with Less,† IDG News Service (San Francisco Bureau). France, Mike, â€Å"Microsoft: The View at Halftime,† Business Week, January 25, 1999, p. 78. Hamm, Steve, â€Å"No Letup–And No Apologies: Antitrust Scrutiny Hasn’t Eased Microsoft’s Competitiveness,† Business Week, October 26, 1998, p. 58. Higgins, David, â€Å"The Man Who Owns the Future,† Sydney Morning Herald, March 14, 1998, p. 1. Iceboat, Daniel, and Susan L. Knepper, The Making of Microsoft: How Bill Gates and His Team Created the World’s Most Successful Software Company, Rocklin, Calif.: Prima Publishing, 1991, 304 p. Ichbiah, Daniel, and Susan L. Knepper. The Making of Microsoft: How Bill Gates and His Team Created the World’s Most Successful Software Company. New York: St. Martin’s, 1991. Isaacson, Walter, â€Å"In Search of the Real Bill Gates,† Time Magazine, January 13, 1997, pp. 44+. Kirkpatrick, David, â€Å"He Wants All Your Business–And He’s Starting to Get It,† Fortune, May 26, 1997, pp. 58+. Kirkpatrick, David, â€Å"Microsoft: Is Your Company Its Next Meal?,† Fortune, April 27, 1998, pp. 92-102. Krantz, Michael, â€Å"If You Can’t Beat ‘Em †¦ Will Bill Gates’ Bailout Save Apple–Or Just Strengthen Microsoft’s Hand in the Web Wars?,† Time Magazine, August 18, 1997, pp. 35+. Manes, Stephen, and Paul Andrews, Gates: How Microsoft’s Mogul Reinvented an Industry–And Made Himself the Richest Man in America, New York: Doubleday, 1993. Mardesich, Jodi, â€Å"What’s Weighing Down Microsoft?,† Fortune, January 11, 1999, pp. 147-48. McKenzie, Richard B., Trust on Trial: How the Microsoft Case Is Reframing the Rules of Competition, Perseus Publishing, 2000. Microsoft Corporation. Inside Out: Microsoft—In Our Own Words. New York: Warner Books, 2000. Moody, Fred, I Sing the Body Electronic: A Year with Microsoft on the Multimedia Frontier, New York: Viking, 1995, 311 p. Nocera, Joseph, â€Å"High Noon,† Fortune, November 23, 1998, pp. 162+. Pollock, Andrew, â€Å"Media; Microsoft Makes Another Interactive TV Investment,† New York Times, January 24, 2000. Schlender, Brent, â€Å"What Bill Gates Really Wants,† Fortune, January 16, 1995, pp. 34+. Stross, Randall E., The Microsoft Way: The Real Story of How the Company Outsmarts Its Competition, Reading, Mass.: Addison-Wesley Publishing, 1996, 318 p. Wallace, James, and Jim Erickson, Hard Drive: Bill Gates and the Making of the Microsoft Empire, New York: Wiley, 1992, 426 p. Source: International Directory of Company Histories, Vol.63. St. James Press, 2004. http://www.answers.com/topic/microsoft#ixzz1Ia9E8U5d http://www.answers.com/main/dsdata?dsid=2940templateid=0cid=27590212qm_page=30703 http://www.bighistory.net/microsoft-a-short-history/ http://www.fundinguniverse.com/company-histories/Microsoft-Corporation- Company-History.html How to cite Financial Analysis of Microsoft Corporation, Essay examples