Monday, August 24, 2020

Witchcraft Hysteria in Puritan New England :: American America History

Black magic Hysteria in Puritan New England In 1692, the issues following Massachusetts’s change from Puritan Utopia to imperial settlement had an irregular increment in the black magic insanity at Salem Village (presently the town of Danvers). Despite the fact that the confidence in black magic had begun an enormous issue in Salem, right around 300 New Englanders (for the most part lower class, moderately aged, minor ladies †old maids or widows) had been charged as witches, and more than thirty had been hanged. With this issue in Salem all predominance in its extension and power. The general colony’s lifestyle was encountering a few issues. These issues lead the network to accept that the demon was grinding away in the town. A couple of high school young ladies became delta audience members to voodoo stories told by Tituba, a West Indian slave, and started acting oddly. For reasons unknown at all they began yelling, yelping, cowering and jerking. The town specialist had arrived at the resolution that they had been entranced. At the point when the young ladies were told this, they highlighted Tituba and two more seasoned white ladies as the wrongdoers. The lawbreakers were caught with a frenzy as word spread that the fallen angel was in their essence. As the three ladies were being posed inquiries the had young ladies moved on the floor in convulsive fits. Tituba stunned everybody when she admitted to the charge yet in addition told that numerous others in the settlement were rehearsing the fallen angels work. This panic in the town began causing numerous issues. The crazed young ladies started pointing fingers at numerous inhabitants, including a few of the most regarded individuals of the network. Inside months, the prison in Salem was over its ability with townspeople that were blamed for performing black magic. Perceiving how the townspeople thought everything the young ladies were stating shows how naïve the network is. After ten months, nineteen individuals had been hanged, difficult Giles Corey who declined to supplication Guilty or not Guilty was squeezed to death by overwhelming stones, and in excess of 100 others imprisoned. Allegations spread more extensive and went path past the outskirts of Salem. This stressed pioneer pioneers and they concluded that the witch †chases were wild. The jury had about observed enough when the young ladies denounced Samuel Willard, the minister of Boston’s First Church and leader of Harvard College, of rehearsing black magic. The senator disbanded the extraordinary court and requested the rest of the suspects discharged when he was staggered that his own significant other was blamed for venerating the fallen angel.

Saturday, August 22, 2020

Business strategy Assignment Example | Topics and Well Written Essays - 1750 words

Business technique - Assignment Example Assessment of various strategies for Leeds University Growth in the business is an unpredictable and diverse perspective yet is a profoundly wanted marvel for the associations consistently. Business development stands equal to business result, which means the accomplishment of business objectives, expanding the quantity of workers, upgrading the estimation of the business identified with the partners and improving the benefit or the deals of the business. New pursuits or methodologies comprise of procedures that are identified with the capacities and assets of the association (Kariv 477). The University of Leeds is positioned as the second biggest college of United Kingdom (UK). This college is a huge player in the advanced education of UK and has fabricated its notoriety based on quality, volume and broadness of research and training alongside its different arrangement of research greatness. The college has actualized different techniques so as to incorporate training, grant and wor ld-class inquire about so as to make sure about a situation among the best 50 colleges on the planet. Through these means, they expect to make an effect on the worldwide society. Alongside accomplishing scholarly greatness, the association likewise intends to shape a productive, successful and economical association that would advance a solid working environment, normalized forms and manageable condition. Monetary dependability and examination of the college staff is additionally given equivalent significance in their procedure (University of Leeds â€Å"Strategy Map.†). In this way, it tends to be seen that for accomplishing the world class position, the college has surrounded systems identified with their business, however has additionally utilized assets that will be liable for conveying the outcomes. In this manner, the procedure will prompt significant development. 2. Grounds dependent on which reasonable future system are picked for Leeds University To settle on a techn ique, the chiefs give extensive measure of vitality and points of view on considering and reexamining the future and the current situation of the association. Making a technique is profoundly subject to the situation examination and appraisal of the business openings. Procedure scope assumes a significant job in this unique situation. The University of Leeds is working in a quickly changing business condition where it requires tending to the extension which presents them with a chance. The degrees that the college requires to address are item or administration scope, clients scope, geographic extension and the partner scope (Fahey and Randall 23-28). Right off the bat, for University of Leeds to situate itself among the best 50 colleges, the item and administrations that they offer assumes a noteworthy job. The item and administrations that is instruction ought to be accordingly, that it creates exceptional researchers and graduates. Subsequently, the essential spotlight ought to be on techniques to improve the item to improve it. Furthermore, if there should arise an occurrence of the client scope that is the understudies, the college ought to convey their training in such manners that great understudies are created who thusly will affect the worldwide society. Thirdly, geographic extension is a significant parameter for the accomplishment of the college. So as to make an effect on the worldwide front, internationalization of the college is significant. This requires development of its geographic cutoff points. Finally, augmentation of stakeholder’s worth and living up to their desires are huge for manageability of the organizati

Friday, July 17, 2020

Books to Listen to While You Knit (Plus Pattern Ideas)

Books to Listen to While You Knit (Plus Pattern Ideas) Through Book Riots relationship with Audible, the leading provider of audiobooks, Book Riot readers who are new to Audible can click here to download a free audiobook and get a 30-day free trial of the service. Audible offers more than 150,000 titles that can be played on iPhone, Kindle, Android, and 500 other devices. Knitting and listening to books go together like peas and carrots. When you knit, you sometimes sit still for hours at a time, keeping your hands and eyes busy but leaving your ears completely free. Its the perfect recipe for listening.  And wouldnt it be fun to listen to a book that lasted exactly the length of the project youre working on? In search of new recommendations, I reached out to a few dozen of my craftiest, most bookish friends. Like the wonderful, generous people they are, they shared their favorite listens like gangbusters, and you can rest-assured that these audiobooks are knitter-tested and approved. Here are our picks arranged by length and genre, along with a few pattern ideas to spark your imagination. (And, of course, knitting times are approximate and will vary widely based on the knitter, pattern, yarn weight, needle size, gauge, and all that fun stuff.)  Any of these listens would work perfectly for other crafty projects, too. Happy crafting! Mug Cozy: 1 hour Pick a Pocket Cozies by Simply Notable Fiction: Vampires in the Lemon Grove by Karen Russell, read by various (short stories 1 hr) Memoir: This is the Story of a Happy Marriage  by Ann Patchett, read by the author (essays 1 hr) Non Fiction: Lost at Sea  by Jon Ronson, read by the author (essays 1 hr) Western: Brokeback Mountain by Annie Proulx, read by Campbell Scott (1 hr) Young Readers: Fortunately, the Milk  by Neil Gaiman, read by the author (1 hr) Baby Hat: 1-2 hours Pointy Hats for Newborns by Purl Bee Fiction: Love, Dishonor, Marry, Die, Cherish, Perish by David Rakoff, read by the author (2.5 hrs) Memoir: My Brief History by Stephen Hawking, read by Matthew Brenher (2 hrs) Non Fiction: The Tao of Pooh by Benjamin Hoff, read by Simon Vance (2.5 hrs) Mystery: Mulholland Drive by Michael Connelly, read by David W. Collins (2 hrs) Young Readers: Fantastic Mr. Fox and Other Animal Stories by Roald Dahl, read by various (2.5 hrs) Fingerless Mitts: 3-4 hours Fightin Words by Annie Watts Fiction: Home by Toni Morrison, read by the author (4.5 hrs) Memoir: Zombie Spaceship Wasteland by Patton Oswalt, read by the author (3.5 hrs) Non Fiction: The Art of Happiness by the Dalai Lama, read by Howard Cutler (3 hrs) Science Fiction: The Time Machine by H.G. Wells, read by Alan Munro (4 hrs) Young Readers: The BFG by Roald Dahl, read by David Walliams (4.5 hrs) Scarf: 5-6 hours Mr. Fox Stole My Heart by Tiny Owl Knits Fiction: Slaughterhouse-Five by Kurt Vonnegut, read by Ethan Hawke (6 hrs) Memoir: Let’s Explore Diabetes with Owls by David Sedaris, read by the author (6.5 hrs) Non Fiction: The Partly Cloudy Patriot by Sarah Vowell, read by the author (5 hrs) Fantasy: The Ocean at the End of the Lane by Neil Gaiman, read by the author (5.5. hrs) Young Readers: Doll Bones by Holly Black, read by Nick Podehl (5 hrs) Socks: 7-8 hours Love Socks by Devon Clement Fiction: The Rosie Project by Graeme Simsion, read by Dan O’Grady (7.5 hrs) Memoir: The Journal of Best Practices: A Memoir of Marriage, Asperger Syndrome, and One Mans Quest to be a Better Husband  by David Finch (7 hrs) Non Fiction: Stiff by Mary Roach, read by Shelly Frasier (8 hrs) Science Fiction: Redshirts by John Scalzi, read by Wil Wheaton (7.5 hrs) Young Readers: The Fault in Our Stars by John Green, read by Kate Rudd (7 hrs) Baby Leggings: 9-10 hours Little Leggings by Susie Johns Fiction: City of Thieves by David Benioff, read by Ron Perlman (8.5 hrs) Memoir: Let’s Pretend this Never Happened by Jenny Lawson, read by the author (8.5 hrs) Non Fiction: Destiny of the Republic by Candice Millard, read by Paul Michael (10 hrs) Historical Fiction: Code Name Verity by Elizabeth Wein, read by Morven Christie Lucy Gaskell (10 hrs) Young Readers: Eleanor Park by Rainbow Rowell, read by Rebecca Lowman Sunil Malhotra (9 hrs) Cowl: 11-14 hours Moko-Moko by Olga Jazzy Fiction: The Good Lord Bird by James McBride, read by Michael Boatman (14.5 hrs) Memoir: Eat, Pray, Love by Elizabeth Gilbert, read by the author (13 hrs) Non Fiction: The Mushroom Hunters by Langdon Cook, read by Kevin Free (11 hrs) Historical Fiction: Master and Commander by Patrick OBrian, read by Simon Vance (13 hrs) Young Readers: The House of Tomorrow by Peter Bognanni, read by Lloyd James (10.5 hrs) Shawl: 15+ hours Stripe Study Shawl by Veera Välimäki Fiction: Life After Life by Kate Atkinson, read by Fenella Woolgar (15 hrs) Memoir: Unbroken by Laura Hillenbrand, read by Edward Herrmann (14 hrs) Non Fiction:  Animal, Vegetable, Miracle by Barbara Kingsolver (14.5 hrs) Mystery: The Barbarian Nurseries by Héctor Tobar, read by Frankie J. Alvarez (16 hrs) Young Readers: The Henry Huggins Collection by Beverly Cleary, read by Neil Patrick Harris (15.5 hrs) Baby Blanket: 20+ hours Four Corners Baby Blanket by Purl Bee Fiction: The Thousand Autumns of Jacob de Zoet by David Mitchell, read by Jonathan Aris Paula  Wilcox (19 hrs) Memoir: Life by Keith Richards, read by Johnny Depp Joe Hurley (23 hrs) Non Fiction: Genius by James Gleick, read by Dick Estell (20 hrs) Historical Fiction: The Other Boleyn Girl by Philippa Gregory, read by Susan Lyons (23 hrs) Young Readers: Little Women by Louisa May Alcott, read by Barbara Caruso (20 hrs) Sweater: 25+ hours Chelsea Morning by Elizabeth Davis Fiction: The Bonfire of the Vanities by Tom Wolfe, read by Joe Barrett (28 hrs) Memoir: Joseph Anton: A Memoir by Salman Rushdie, read by Sam Dastor Salman Rushdie (27 hrs) Non Fiction: Helter Skelter by Vincent Bugliosi, read by Scott Brick (26.5 hrs) Science Fiction: 11-22-63 by Stephen King, read by Craig Wasson (30.5 hrs) Young Readers: The Chronicles of Narnia series by C.S. Lewis, read by various (30 hrs) Pants: 30+ hours Knitted Pants by Kristina McGowan Fiction: The Goldfinch by Donna Tartt, read by David Pittu (32.5 hrs) Memoir: Long Walk to Freedom by Nelson Mandela, read by Michael Boatman (27.5 hrs) Non Fiction: The Great Shark Hunt by Hunter S. Thompson, read by Scott Sowers (29 hrs) Historical Fiction: Outlander by Dianna Gabaldon, read by Davina Porter (33 hrs) Young Readers: The Hunger Games series by Suzanne Collins, read by Carolyn McCormick (35 hrs) Blanket: 40+ hours The Beekeepers Quilt by Tiny Owl Knits Fiction: 1Q84 by Haruki Murakami, read by Allison Hiroto, Marc Vietor Mark Boyett (47 hrs) Memoir: Far From the Tree by Andre Solomon, read by the author (40.5 hrs) Non Fiction: Team of Rivals by Doris Kearns Goodwin, read by Suzanne Toren (41.5) hrs Fantasy: Game of Thrones series  by George R. R. Martin, read by Roy Dotrice  (202 hrs) Young Readers: The Inheritance Cycle series by Christopher Paolini, read by Gerard Doyle (101 hrs) A few parting words of wisdom: several knitters mentioned that they have to be careful when the book gets exciting because their gauge can tighten up (One knitter even said her worst knitting ever occurred when she listened to  The Shining she had to frog the whole project at the end!). And sometimes they have to  rewind a little at tricky parts, especially for lace, Fair Isle, and other techniques that require strict attention. Favorite listens were ones that are engaging but forgiving enough that the knitter can tune out for a few minutes when the going gets tricky. Thanks to Abby, Alex, Alexia, Amanda, Amber, Courtney, Emily, Kim, Laura, Liza, Lovina, Michelle, Nancy, Rebecca, Tricia, and Valerie for sharing your suggestions. You guys are inspiring crafters readers! _________________________ Sign up for our newsletter to have the best of Book Riot delivered straight to your inbox every week. No spam. We promise. To keep up with Book Riot on a daily basis, follow us on Twitter, like us on Facebook, , and subscribe to the Book Riot podcast in iTunes or via RSS. So much bookish goodnessall day, every day. Sign up for Audiobooks to receive the latest from the audiobooks world.

Thursday, May 21, 2020

Essay about Negative Aspects of Animal Testing - 1257 Words

An Evil Science: ANIMALS IN RESEARCH Dating back to ancient times, animals have been used in research to advance biomedical sciences. However, the ways the human race can exploit these living creatures are absolutely evil. The main concern animal rights advocates have are not concerned with the idea of using animals in research but the way people can torture these animals. The twentieth century has witnessed some of the cruelest acts of violence in the laboratory but it has also seen the rise of the animal rights movement. Cruelty will always exist in this world, in some form or another, but hopefully it can be abolished from the laboratories. One could hear the agonizing screams of the horse from a great distance. Inside the lab the†¦show more content†¦Many people find it difficult to inflict pain upon another human being, but why is it that some people ignore the fact that other animals feel pain as well? Mice and rats, for example, are highly intelligent and social creatures. They form a close bond with their families and any human who shows it affection. They have an amazing memory and never forget a navigation route once they have learned it. And yet, they (along with birds) make up the majority of the animals used in research and the numbers reach up to ten million and are continuing to rise with the popularity of genetic engineering. However the Animal Welfare Act fails to protect these animals and they continue to suffer in laboratories around the world. This common viewpoint, that animals like small rodents do not feel the same pain humans do, leads to inhumane treatment of the laboratory animals such as failure to properly clean cages and the reluctance to use pain-relievers. (http://www.stopanimaltests.com/feat/hiddenrats/, 7/30/06) Our main purpose in the use of animals in research is to advance human medicine. So why is it that the animals must suffer in order for us humans to thrive? What gives us the right to mistreat a different species? Why is it that we feel we are superior to them? Imagine if we were in that filthy cage or strapped to that electric circuit? In 1944, toxicologist John H. Draize ofShow MoreRelatedAnimal Testing : Is It Inhumanity Or Science?1249 Words   |  5 PagesHarjinder Kaur May.17, 2016 Animal Testing: Is It Inhumanity or Science? The idea of using animals in research has been a widely controversial subject for many years, is it inhumanity or science? Every being holds their own perspective towards animals. They may consider animals as machine-like creatures with no consciousness, while others view animals as spiritual creatures who have feelings and emotions just like human beings. For decades, animals have been used for further experimentalRead MoreAnimal Testing : Is It Beneficial For The World1106 Words   |  5 PagesSergio Ramon Mr.Rear English III 30 June 2015 Animal Testing: Is it really Beneficial For The World â€Å"Over 100 million animals are burned, crippled, poisoned, and abused in US labs every year† (11 Facts). Animal testing is a very flawed creation in today’s world. This innovation has caused much harm to many animals while also hurting the opinions of animal activists around the world. Animal testing is also known as the use of animals in experiments and development projects usually to determine toxicityRead MoreAnimal Testing Persuasive Essay1694 Words   |  7 Pages About 19,500,000 animals in total are killed in scientific research every year. This means that about twenty percent of the animals tested on each year die, which may not seem like a large percentage; however, if it is taken into account that this happens to the same species in an endless cycle, the numbers can begin to build. Although, through this process of testing, many lifesaving medicines have been created for all types of animals including humans. So, the issue the world is experiencing rightR ead MoreAnimal Testing : A Controversial Topic1243 Words   |  5 PagesAbdul Faytrouni Prof. Greer PHIL 76 23 July 2015 Animal Testing Fatima walks into the cosmetic section of Macy’s and is interested in buying some acne skin care products. As she was paying for them, she notices plenty of harmful side effects the acne products contained. Fatima is glad she is aware of these symptoms and knows that these side effects are rare and that the product is almost completely safe to use. If it was not for animal testing that is currently being used in some laboratories, theseRead MoreAnimal Experimentation And Animal Testing1261 Words   |  6 Pagesagainst animal experimentation. The report begins with an introduction briefly outlining what animal experimentation refers to, introducing the three perspectives and highlighting the intention behind this investigation. The report then explores the positive and negative medical aspect of animal experimentation stating that it has resulted in vital vaccines benefitting both humans and animals, but also accepting it is not always reliable. The advantages and disadvantages of animal testing on consumerRead MoreShould Animal Testing Be Illegal?955 Words   |  4 PagesAnimal testing is widely used today for a variety of different reasons ranging from testing new medical treatments for serious diseases to testing new cosmetics. Due to the widespread nature of animal testing, there are those who argue that animal testing is morally wrong and that it causes unnecessary suffering in animals. However, there are some that believe animal testing’s ability to reduce human suffering makes it morally right, good, and useful. Throughout this paper, I will argue that testingRead MoreAnimal Testing Should Not Be Used For Biomedical Research1645 Words   |  7 PagesMillions of animals are used and tested on for biomedical research. Considering this fact, is it really an ethical approach to satisfying the needs of humans? Animals should not be used for biomedical research because the experiments are cruel and inhumane. Although animal testing brings more medical advancement and less human-based experiments, it is an expensive way of researching that produce imprecise outputs and at the same time is a practice of animal cruelty. What is animal testing? Animal testingRead MoreAnimal Testing Should Not Be Banned1114 Words   |  5 Pagesthe field of science has used animals in medical experiments worldwide, because of this innocent animals are being killed everyday. They are being tested with new drugs, new treatments, and by many makeup companies. Connecticut recently celebrated the passage of the â€Å"Beagle Freedom Law†, a law that requires laboratories to work with charities and rescue groups to find homes for research cats and dogs. Animals are being tested so humans do not have to be but animal tests do not reliably predict resultsRead MoreAnimal Testing Is Not All Humane And Pain Free1130 Words   |  5 Pagesâ€Å"An estimated 26 million animals are used every year in the united states for scientific and commercial testing† (ProCon.org). We are rapidly using up the earth’s supply of small animals. â€Å"A 2011 poll of nearly 1,000 biomedical scientists conducted by the science journal Nature found that more than 90% agreed that the use of animals in research is essential (ProCon.org). Right now, millions of mice, rats, rabbits, cats, dogs, and other animals are locked up in cages and are getting killed for scientificRead MoreAnimal Experimentation And My Personal Stance On The Matter1159 Words   |  5 PagesDo animals feel pain? Do they suffer when in distress? Almost all animal research is conducted for better understanding of human diseases and illnesses, rarely are animals used for the benefits of animals. Is the pain felt by animals worth the advances in human understandings? I will discuss what animals are used for, why they are used, the ethical dilemma of animal research, laws relevant to the study of animal experimentation and my personal stance on the matter. Animal testing has many other

Wednesday, May 6, 2020

The Problem Of Suffering Is Not Limited - 1462 Words

The problem of suffering is not limited to human society. The awareness of evils, present not only in human society but also in the physical and biological levels, is raised among scientists and theologians who participate in theology-science dialogue. Not only animals but also plants experience sufferings and pains to a certain extent. On the physical level, the increase of entropy according to the 2nd law of thermodynamics is regarded as analogous to the notion of evil on the physical level. Even though the prevalence of evil in the world raises a question as to the goodness of a god in any religion, â€Å"The problem is particularly pressing for Abrahamic faiths that insist on God’s fairness, love, and goodness.† In that vein, Veli-Matti Kà ¤rkkà ¤inen appositely and acutely points out, â€Å"Rampant suffering and acts of evil in the world, both in relation to humanity (moral evil) and to nature (natural evil), constitute a major atheistic challenge concerning the existence of God.† In this paper, rather than presenting a full-scale theodicy, I engage with the problem of theodicy through careful comparative study between Wolfhart Pannenberg’s and Catherine Keller’s theodical arguments in the context of their dialogue with modern physics and biology. Pannenberg sees that theology and natural science are to be placed in hypothetical consonance , whereas Keller takes an assimilationist approach to theology-science dialogue. The divergence of their interdisciplinaryShow MoreRelatedEssay on The Problem of Evil1269 Words   |  6 PagesAndrew R. 11/21/12 Phil 300 The Problem of Evil One of the most interesting questions in the world is, â€Å"If a God exists, why is there evil in the world?† Most people respond with, â€Å"If God created the universe and us, then there should not be evil in the world,† when asked about God or any other powerful being. The problem of evil is also believed to be the cause of Atheism, and I do believe that there is a solution for this. The problem of evil is not a correct argument. The argumentsRead MoreThe Problem Of Evil, The Fine Tuning Argument And The Moral Argument1210 Words   |  5 Pagesmain concepts that I’m going to talk about which which are the problem of evil, the fine tuning argument and the moral argument. According to theism, God is: â€Å"that being which no greater is possible, and he is omnipotent, omniscient and omnibenevolent.†. By having a God who only desires good, and us living in a world where evil exists, it is logically impossible and that is what created the problem of evil. There are two sides of the problem of evil which are the logical and evidential argument. TheRead MoreRevision Of The Critique Of Hardin’S â€Å"Lifeboat Ethics†:1134 Words   |  5 Pageswas going to bring a downfall to a world of limited resources. Each nation was compared to a lifeboat with the rich being inside the boat and the poor in the water, drowning (Hardin, 561). He wrote the â€Å"Lifeboat Ethics† in 1974 when Ethiopia was having a starvation problem. Hardin’s opinion about the situation was that sending aid to Ethiopia was only making the problem worse and by feeding the people would aid overpopulation; the root to the problem. Hardin’s thesis developed from the notionRead MoreThe Problem Of Evil And Moral Evil1093 Words   |  5 Pagesarise when attempts are made to explain the problem of evil and why it exists in our world when God is all-knowing, all-powerful, and all-good. The subject of evil and why it exists is a difficult topic to find an exact answer to, especially when evil is presented in the form of nature. Natural evil and moral evil are two different types of evil that take form and cause suffering to humans. Natural evil is â€Å"events and maladies in nature that bring suffering upon mankind and nature.† Natural evil canRead MoreA Brief Note On Water Scarcity Of India1413 Words   |  6 PagesWater scarcity is the phenomenon describing the lack of water sources or the lack of access to safe and clean water. Water scarcity is happening all over the world. Nearly 1 billion people in the world were suffering from it. In the world Asia is one of the continents, which is serious suffering from water scarcity. The countries that are facing serious water scarcity in Asia are concentrated in South Asia and India is one of them. There are two type of water scarcity, one is economic scarcity anotherRead MoreEvil : The Problem Of Evil720 Words   |  3 Pagesand omnibenevolent. By having a God who only desires good, and us living in a world where evil exists, it is logically impossible and that is what created the problem of evil. Problem of Evil: There are two sides of the problem of evil which are the logical and evidential arguments. The logical side states that as long as evil and suffering exists in this world there is no God. That does not only contradict with the idea of God being â€Å"all-good†, but also him being â€Å"all-knowing† and â€Å"all-powerful†Read MoreChristian View of Buddhism764 Words   |  4 Pagesteachings of Buddhism are the Four Noble Truths and the Eightfold Path. The Four Noble Truths are as follows 1) Life is suffering 2) All suffering is caused by ignorance of the nature of reality and the craving, attachment, and grasping that result from such ignorance 3) Suffering can be ended by overcoming ignorance and attachment 4) The path to the suppression of suffering is the Noble Eightfold Path. Hence, material wealth is not necessary to living. The Eightfold Path is crucial onRead MoreA Disorder That Is Discussed In Both The Textbook And The1611 Words   |  7 Pagesindividuals who have had conduct problems as children have a higher risk of being exposed to violent events possibly leading to PTSD. An individual suffering from Post Traumatic Stress Disorder may exhibit behaviors such as avoidance, alterations in cognition, changes in mood, and heightened reactivity, all of these behaviors can be seen in the DSM 5’s criteria for diagnosing PTSD (Trauma-and Stressor-Related Disorders, 2013). 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Anyone dealing with depression can explain that it is more than a feeling of sadness or loneliness. It is an agonizing pain that is sometimes hard to explain, which lasts for months and sometimes years. Although depression may start as an emotional state, it progresses to a more complex dilemma and begins to affect you in every

Jk Cement Research Report Free Essays

Indian Institute of Management, Bangalore PGP Program Term 1, 2012 Final Report for JK Cements – Group 2 Section 1 Business Description: JK Cements is one of the largest cement manufacturers in Northern India and the eighth largest overall India with net cement sales of 2545 crores in 2011-12. Itsmain productsinclude grey and white cement. It produced 53. We will write a custom essay sample on Jk Cement Research Report or any similar topic only for you Order Now 2 lakh tons of grey cement and 3. 77 lakh tons of white cement in the financial year 201112. Grey cement produced consists of Ordinary Portland Cement (â€Å"OPC†) and Portland Pozzolana Cement (â€Å"PPC†). Their cement products are marketed under the brand names J. K. Cement and Sarvashaktiman for OPC products, J. K. Super for PPC products and J. K. White and Camel for white cement products. JK Wall Putty and JK Water proof are its white cement based value-added products. Housing (74%), infrastructure (17%), commercial institutional sector (13%) and industrial sector (6%) are the major customers of the cement industry [Refer Figure 1]. Housing constitutes a major chunk of the demand and hence rural and urban housing projects are a key resource generator. Key stock statistics and revenue/earnings data is included in the appendix [Refer Tables 1 2] Section 2 Market Profile, Competition, Strategy, Risks A. Market Profile: The demand for cement mainly depends on the level of development and the rate of growth of the economy. The major demand drivers for the cement sector in India are housing, infrastructure and commercial construction. These are key components of the country’s GDP and hence, the average growth of the cement industry is approximately 1. 2 times the GDP growth. Significant impetus to both rural and urban housing as per capita income increases in a major driver of the industry. With the increase in national infrastructure investment, the industry is poised to expand further in spite of the worldwide economic recession. The housing sector contributes around 64% of the total cement demand. It also accounts for 80% of the total real estate developments in the country. Housing demand is expected to be robust backed by various measures adopted in the budget like continued interest subvention up to 15 lacs, exemption from service tax for low cost housing construction, and increase in investment-linked deduction of capital expenditure on low-cost housing from 100% to 150%. There has been a major push by the government in infrastructure development with the intended investment being US$ 1 trillion in the 12th five year plan period (2012-17), against an investment of US$ 514 billion in the 11th five year plan period. Massive investment in infrastructure would provide boost to Indian Cement industry. India is the second largest producer and consumer of cement in the world, accounting for 7-8% of the total global production with an installed capacity of over 300 Mtpa at the end of 2011-12. India’s cement industry performed better in 1 011-12, on back of robust demand revival in the second half of the financial year. The industry grew by 6. 4 per cent in 2011-12 as against less than 5 per cent in 2010-11. Total cement sales were 223. 02 MT compared with 209. 5 MT in FY11. For 2012-13, CRISIL Research estimates cement demand to increase 7-8 per cent yoy (Crisil). In the near term, demand could be a little weak because of the lower GDP growth. Given th at a large part of the demand comes from the housing sector, high interest rates are not conducive to the urban real estate demand. However, in the long term, the industry is expected to grow at an average of 1. times the GDP growth rate. Growth rates of 8-9% can be targeted for the five year period given the increase in investment in infrastructure projects and increasing rural demand. Although India is one of the largest cement markets in the world, per capita consumption of cement is still low as compared to the world average as well as that of other large countries such as China and US. The Indian cement industry, thus, has a huge growth potential. Given the intense shortage of housing, this segment has been a major growth driver for the cement industry. The demand for residential real estate has only increased, fuelled by increasing urbanization, rising income levels, decreasing household sizes and easy availability of home loans. Bulk of the total shortage of 74 million units at the end of the 11th Five Year Plan (2007-2012), is expected to be generated by rural and below poverty line households. The government has launched various initiatives such as NREGS and Indira AwasYojana to improve rural income, which may increase demand for rural housing in the country. Increased infrastructure investments by the government as mentioned earlier is also likely to be a major growth area. Housing (74%), infrastructure (17%), commercial institutional sector (13%) and industrial sector (6%) are the major customers of the cement industry. Housing constitutes a major chunk of the demand and hence rural and urban housing projects are a key resource generator. Overall industry margins and change in sales trends are mentioned in tables at the end. [Refer to Table 3 4]. Please refer to Table 5 for a picture of the industry growth rate based on the Free Cash Flow model where the average P/B was computed with the top 5 firms of the industry and different rates for cost of capital were assumed. This shows that the cement industry is poised for growth for whatever cost of capital that may prevail. B. Competition: Inter firm competition and rivalry in the industry is high. Large number of players, intermittent overcapacity, marginal product differentiation, high storage cost and high exit barrier in form of significant capital investment has led to high competition in the industry. Threat of new entrants is limited since it involves high capital investment, broad distribution network and oversupplied markets deter new entrants. However, given the high potential for growth, quite a few foreign transnational companies have made acquisitions and increased their stake in domestic companies to gain full control. There are no good substitutes for cement popular in India. However, there are eco friendly substitutes for cement which include fly ash and slag. Fly ash is the by product when coal is burnt to make electric power and slag is created when producing iron in blast furnaces. Coal fly ash, blast furnace slag and other mineral admixtures can substitute for cement, aving energy and reducing cost. Bitumen in roads and engineering plastics in building are some element of competition. Currently, the top players – UltraTech, ACC, Ambuja Cements, Jaiprakash Associates, India Cements and Shree Cement, collectively control more than half of the cement market in the country. Overall, there are 40 players in the industry across the country. (Source: ibef. org) The closest competitors for JK Cement are Shree Ceme nts, Madras Cements, Birla Corporation and Binani Cement. The industry has a 4-firm concentration ratio of 58. 18%. 2 C. Strategy Despite challenges, JK Cement has increased revenues and profits owing to higher realisation and volumes in both grey cement and white cement business. The company is in on its way to expanding its capacity in India to cater to the increase in cement demand. It has also diversified its product portfolio by not only limiting itself to varieties of grey cement but also extending to white cement and other value added products. Besides, the Company is also setting up a grey cum white cement plant at Fujairah in UAE to cater to GCC and African markets. The company is making efforts to reduce operating expenses which in turn would increase the ROE. Some of the efforts to reduce operating costs are: Grey Cement †¢ Implementation of CII Audit findings in phased manner to reduce power consumption. †¢ Installation of VFDs in fans to save power. †¢ Replacement of booster fans by high efficiency fans to save power. †¢ Installation of pfisterpump for coal firing in calciner. †¢ Replacement of Raw mill -1 separator by high efficiency separator. †¢ Dynamic separator in Coal Mill. White Cement †¢ Covered clinker storage facility for grey and white clinker. †¢ Grinding plant for dolomite for putty product. †¢ Installation of new SG Fan Driver. The company is also making efforts to increase its capacity. The company is revisiting the size of proposed expansion plan at Mangrol, Rajasthan from earlier envisaged 3. 5 Million Tons to around 2. 5 Million Tons, on account of delay in allotment of new mining area to the Company. Viability study for 2. 5 Million Tons capacity plant is under preparation and a final decision will be taken during the course of the year. D. Risks Three most important risks: 1. Sustained economic slowdown The growth of cement industry is directly proportional to GDP growth rate. Absence of decision making at Government level is affecting economic growth and may have adverse effect for the cement industry. If measures are not adopted against inflation, high interest rates, depreciating rupee, then it would impact the overall economic growth of the country resulting in dragging the sector down. 2. Unavailability of coal linkages Coal costs constitute 14-23% of cost of production of cement. The hike in coal prices is expected to hit the margins. Due to reduced supply of coal linkers from Coal India over the years; the company has to import coal at higher costs from South Africa and Indonesia. The depreciation of the rupee will also add to the increased cost of raw materials. 3. Adverse demand-supply mismatch In case, the additional capacities get commissioned ahead of schedule, then a state of oversupply would rise, consequently prices may head downwards and the sector may suffer a severe blow. Section 3 3 Trend Analysis The demand for the cement mainly depends on the rate of growth of infrastructure, housing and commercial construction. In Indian context all these areas have been experiencing a significant growth as a result of constant growth in our GDP. As a result we can see that overall the total revenues for both the companies have been rising [Refer to Figure 2]. JK Cement and Madras Cements basically cater to northern and southern India respectively. In year 2011, there is a dip in the total revenues of Madras Cement. This was result of a more acute fall in the capacity utilization observed in southern India due to low demands because of political instability in Andhra Pradesh and minimal pick-up in demand in Tamil Nadu and Kerala post elections. The two industries exhibit comparable trend as far as profit margins are concerned [Refer to Figure 4]. So, an overall analysis of cement industry in this period is required. In 2008, the dip can be attributed to reduced demands due to global recession, which reduced capacity utilization thus reducing profits. In 2011, there was marginally poor off take in cement demand due to passive construction activity, which lead to excess supply and utilisation fell to a 13-year low of 83. 9% for 2010-11. This has been coupled with rise in input costs, especially prices of coal and petroleum products. As a result, both the top line and bottom line have been affected. Hence this year the capacity utilization increased and the demand dropped. Section 4 Ratio Analysis [Refer Table 6] . Return on Equity : [Refer Fig. 5] ROE has been hovering around 17-20% throughout with some years seeing slight changes. Given that Index of Industrial Production(IIP) grew only by around 2. 8%, it appears that JK and Madras have both done well. However, 2010-11 was a bad year for JK Cements. Their Net Operating Profit plummeted by 39% when compared to the previous year while the same for Madras Cement was only around 27%. This was mainly on account of reduction in sales realisation and substantial increase in the prices of petcoke and fuel resulting in higher input costs (Annual Report 2010-11). This caused the ROE of JK to fall by almost 600% from the previous year. 2. Basic DuPont Model Analysis : [Refer Fig. 4,5 and 6] ROE = Asset Turnover * Profit Margin Asset Turnover of JK is consistently higher when compared with Madras Cements – 42. 46% higher in 2006-07 while this is 39. 87% in 2012. This is because JK’s total fixed assets is lesser than Madras’ by almost 50% while sales of Madras Cements is higher only by around 2025% on an average . However, the low profit margin throughout has been causing the Return on Equity of JK to be lower than that of Madras Cements. The profit margin has been very low in all the years from with the worst hit being in 2011 – reason explained in step 1. Also the Net Financial Rate has dinted the net profit due to expansion efforts coupled with the dim outlook in the industry. A ray of hope for JK would be to perform product differentiation with the white cement – wall putty market ; it has done right by expanding the white cement units in overseas ; the demand for interior and decor is bound to increase in the near future. 4 3. Advanced DuPont Model Analysis with RNOA Leverage : [Refer Fig. 12] It can be seen that the Operating Spread of JK is going negative for 2010-11 2011-12 showing that their Financial Rate is on the rise which is due to debts from increased expansion plans. This, along with the increased leverage from high borrowing, has reduced the already low RNOA to yield a poor ROE value. In the same while, for Madras Cements the spread has been positive – in fact, it has never gon e negative for them, despite their large debt. Madras Cements has been affected only by the overall increase in costs in the cement industry and not by the leverage effect which JK has suffered from. The leverage effect has beaten JK again in 2011-12 ; though their RNOA has increased by 177% from the previous year and long-term debt has actually reduced, the Interest Rates on loans have seem to have gone up – leading to a 117% increase in the NFR. Thus the negative operating spread has again caused JK’s ROE to fall below the RNOA – Madras Cements has remained stable in this period – registering a higher ROE than RNOA due to the positive spread. Again, this shows that Operating Margin of JK is low when compared with the cost of capital. 4. Analysis of Turnover ratios [Refer Fig. 9 0] Inventory Turnover and Debt Turnover of JK is considerably higher than that of Madras Cements leading to a better operating cycle. Low inventory holding and low receivables isa positive trend for JK Cements and it should continue this. 5. Analysis of Liquidity and Long-term Solvency : [Refer Fig. 8,11] The Quick Ratio of JK is consistently higher than Madras Cements for al l the 5 years taken into consideration – hence the liquidity position of JK is better than that of Madras Cements. The capital structure seems more of debt financing in the recent years – owing to expansion plans. However increase in interest rates would make JK vulnerable to low margins which is already discussed in the advanced model. Section 5 – Conclusion – – – The cement industry is estimated to grow as can be seen from the CRISIL analysis quoted in section 1; housing and infrastructure demand are expected to increase – hence JK is bound to do well The cost reducing efforts of JK and the product differentiation into white cement are expected to increase profit margins. The Asset Turnover values of JK are also higher than its competitor. Hence increase in ROE is expected in coming years. The reduced operating cycle of JK shows a positive trend vis-a-vis its competitor. P/B value of JK is 1. 18 while industry average (top 5 firms) is 2. 76 (refer to table on Growth of Cement Industry). Hence JK stock seems to be undervalued [Refer Table 5] JK has declared 50% dividend for the current year and has consistently declared dividend for the past 5 years. However, the inherent risks in the industry – from global crises like the Euro crisis and flagging coal availability pose concerns for the successful implementation of plans. Further, the continuous expansion plans of JK leading to higher debt and hence higher interest rates (which can rise based on RBI measures to contain inflation) cause concern for the profit margins which can again reduce. The positives seem to be strong as JK is trying to stabilize its expansion plans. Hence an acute negative view point would not be correct. Hence we suggest a buy/hold after doing the above analysis. 5 References : – Crisil. (n. d. ). Retrieved August 21, 2012, from Crisil Web site: crisilresearch. com – Dion Insight. (n. d. ). Retrieved August 21, 2012, from Dion Insight Web site: https://insight. ionglobal. in/Insight/Industry. asp? pageLink=IndProfileInd=151 – equitymaster. com. (n. d. ). Retrieved August 21, 2012, from equitymaster. com: http://www. equitymaster. com/research-it/sector-info/cement/Cement-Sector-AnalysisReport. asp – Gupta, N. (n. d. ). Ernst Young. Retrieved August 21, 2012, from Ernst Young Web site: http://www. ey. com/Publication/vwLUAssets/cementing_growth/$FILE/cementing_growth. pdf – India Brand Equity Foundation. (n. d. ). Retrieved August 21, 2012, from India Brand Equity Foundation Web site: http://www. ibef. org/industry/cement. aspx – Jagdesh Sunku. 2006). Advantages of using fly ash as supplementary cementing material (SCM) in fibre cement sheets. 10th Int. Inorganic Bonded Fibre Composites Conference, (pp. 25-32). Sao Paulo. – JK Cement Annual Report 2010-11 2011-12. JK Cement. – moneycontrol. com. (n. d. ). – PlanningCommision. (n. d. ). Planning Commission. Retrieved August 21, 2012, from Planning Commission Web site: http://planningcommission. nic. in/plans/mta/11th_mta/chapterwise/chap14_invest. pdf 6 Appendix A Division Figure 1: Division of customers of cement industry into major sectors Major Major customers of cement industry Commercial Institutional 13% Industrial 6% Infrastructure Infrastructure 17% Housing 64% Figure 2: Total revenue for JK Cement Madras Cements Ltd. (Revenue in crores)(Before 2005 financial financial statements for JK Cement wasn’t prepared. It was then treated as a division under JK Groups for financial purposes) Total revenue 3,500. 00 3,000. 00 2,500. 00 2,000. 00 1,500. 00 JK Cement Madras Cements Ltd. 1,000. 00 500. 00 0. 00 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 7 Figure 3: Change in sales % change in sales 60 50 JK Cement Madras Cements Ltd. 40 30 20 10 0 -10 -20 2003 2004 005 2006 2007 2008 2009 2010 2011 2012 Figure 4: Profit Margin Profit margin 25. 0% JK Cement Madras Cements Ltd. 20. 0% 15. 0% 10. 0% 5. 0% 0. 0% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Figure 5: Return on Equity ROE (%) 60 JK Cement 50 Madras Cements Ltd. 40 30 20 10 0 2007-08 2008-09 2009-10 2010-11 2011-12 8 Figure 6: Asset turnover Asset turnover (%) 110 JK Cement 100 Madras Cements Ltd. 90 80 70 60 50 40 2007-08 2008-09 2009-10 2010-11 2011-12 Figure 7: Return on Net Operating Assets RNOA (%) 40 JK Cement Madras Cements Ltd. 30 20 10 0 2007-08 2008-09 2009-10 2010-11 2011-12 Figure 8: Debt – Equity Ratio Debt – Equity Ratio 2. 5 JK Cement Madras Cements Ltd. 2 1. 5 1 0. 5 0 2007-08 2008-09 2009-10 2010-11 2011-12 9 Figure 9: Spread Operating Spread 0. 5 JK Cement 0. 4 Madras Cements Ltd. 0. 3 0. 2 0. 1 0 -0. 1 2007-08 2008-09 2009-10 2010-11 2011-12 2010-11 2011-12 -0. 2 Figure 10: Holding period Operating Cycle (days) 120 JK Cement Madras Cements Ltd. 100 80 60 40 20 0 2007-08 2008-09 2009-10 Figure 11: Quick ratio Quick Ratio 2 JK Cement Madras Cements Ltd. 1. 5 1 0. 5 0 2007-08 2008-09 2009-10 2010-11 2011-12 10 Figure 12: Net Financial Rate NFR 0. 18 JK Cement 0. 6 Madras Cements Ltd. 0. 14 0. 12 0. 1 0. 08 0. 06 0. 04 0. 02 0 2010-11 2011-12 11 Appendix B: (Tables) Table 1: Key stock statistics Stock Report| 24 July 2012 |Symbol : JKCEMENT (NSE); JKCEM (BSE); ISIN NUMBER INE823G01014 J K Cements Stock Price (closing) Investment Style 213. 30 (as of 20 July 2012) Large CAP Sector Cement Summary : JK Cements is one of the largest cement manufacturers in Northern India ; it is the second largest white cement manufacturer by production capacity in India Key Stock Statistics 52 Wk Range 95. 80 to 219. 70 (BSE) 25. 36 8. 41 11,839 EPS (Twelve Month Trailing) P/E (Twelve Month Trailing) 10K investment 5 yrs ago Credit Rating Long Term Bank facilities Short Term Bank facilities Common shares outstg. 69927250 Market Cap Yield (%) Dividend rate per share 1491. 55 Crores 2. 34 5 A+(CARE) A1+(CARE) Table 2: Earnings per Share Earnings Per Share of 10 each ( ) June Q1 September Q2 2011-12 7. 14 0. 51 2010-11 4. 22 -2. 98 2009-10 10. 04 9. 35 December Q3 6. 22 0. 26 6. 65 March Q4 11. 49 7. 66 6. 28 Year 25. 36 9. 16 32. 32 ? ? ? ? ? ? ? ? Table 3: Industry Margins OPM(%) GPM (%) NPM (%) Mar ‘12 21. 78 21. 49 9. 14 Dec ‘11 19. 65 18. 45 10. 13 Industry Margins Sep ‘11 15. 66 13. 6 5. 05 Jun ‘11 24. 41 22. 48 11. 76 Mar ‘11 22. 46 20. 9 11. 92 Dec ‘10 17. 18 15. 32 5. 84 12 Table 4: Industry sales Mar ‘ 12 Industry sales (in crores) % change Change in industry sales (quarter)(%) Dec ‘ 11 Sep ‘ 11 Jun ‘ 11 Mar ‘ 11 Dec ‘ 10 20841. 87 17953. 16 15649. 20 17017. 73 17388. 15 14201. 79 16. 09026 14. 72254 -8. 04179 -2. 1303 22. 43633 Table 5: Industry Growth Projections (for different values of ‘r’) using Free Cash Flow Model Company Name Ultratech Ambuja ACC Shree Cements Madras Cements India Cements JK Cement Average P/B ratio as on 26/08/2012 3. 66 3. 64 . 5 4. 55 2. 19 0. 68 1. 14 2. 765714286 ROE (from March 2012 BS) Cost of Capital (%) Growth (%) 19. 02 15. 28 18. 42 10. 55 18. 78 7. 21 13. 75 14. 71571429 10 11 12 13 14 7. 329288 8. 895631 10. 46197 12. 02832 13. 59466 Table 6: Ratio Calculations Ratios Profit Margin (%) Asset Turnover (%) ROE (%) Return on Assets ( %) Net Operating Profit Margin (%) Net Operating Asset Turnover (%) Return on Net Operating Assets (%) = NOPAT/Avg. Net Operating Assets JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement 2011-12 8. 154156 12. 06512 77. 80004 55. 62438 17. 04343 20. 87036 6. 343937 6. 711146 10. 83703 15. 17511 139. 8798 83. 81691 15. 15882 2010-11 1. 654139 7. 964254 79. 85371 47. 82047 3. 49563 12. 67786 1. 320891 3. 808544 4. 320325 11. 0728 126. 2029 68. 65512 5. 452374 2009-10 10. 84236 12. 59667 88. 57764 56. 65368 22. 29768 25. 09332 9. 60391 7. 136478 12. 51604 16. 10394 160. 5309 81. 84813 20. 09211 2008-09 8. 421552 14. 40591 94. 35595 63. 17162 16. 78291 32. 91344 7. 946235 9. 100446 10. 11265 17. 00776 212. 7993 93. 59998 21. 51965 2007-08 16. 62175 20. 30998 107. 4567 75. 2185 41. 51821 50. 27496 17. 86118 15. 31816 17. 88877 21. 64552 209. 9905 128. 6868 37. 5647 Madras Cement 12. 71931 7. 602044 13. 18078 15. 91926 27. 85493 13 Interest Coverage (%) Leverage – Measure 1 Debt-Equity Ratio Current Ratio Quick Ratio Debt Turnover Debt Collection Period (days) Inventory Turnover Inventory Holding Period (days) Operating Cycle (days) NFO NFE NFR Op. Spread F LEV*Spread ROE = RNOA + FLEV*Spread (Advanced Dupont Analysis) JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement 392. 0551 615. 8751 2. 686571 3. 109805 0. 837413 1. 030999 1. 197299 0. 601965 0. 833253 0. 343679 35. 22924 16. 62681 10. 21879 21. 65177 5. 924257 5. 223089 60. 76712 68. 92473 70. 9859 90. 57651 401. 46 1719. 03 68. 278 101. 808 0. 170074 0. 059224 -0. 01849 0. 067969 -0. 01548 0. 070076 13. 61077 19. 72691 254. 5852 468. 6705 2. 646419 3. 328794 1. 150731 . 609198 1. 367937 0. 931981 0. 916991 0. 599238 33. 11155 15. 49891 10. 87234 23. 22745 7. 497843 4. 941565 48. 01381 72. 85141 58. 88615 96. 07886 802. 04 2307. 32 62. 958 81. 466 0. 078497 0. 035308 -0. 02397 0. 040713 -0. 02759 0. 065515 2. 693658 14. 15354 666. 585 579. 4166 2. 321729 3. 516204 0. 939762 1. 647142 1. 144753 1. 00381 0. 764784 0. 639154 30. 43733 22. 88671 11. 82758 15. 7 2965 8. 619538 5. 233222 41. 76558 68. 79127 53. 59316 84. 52092 705. 23 2034. 43 34. 363 98. 455 0. 048726 0. 048394 0. 152195 0. 083413 0. 143027 0. 137394 34. 39482 26. 92014 619. 7696 717. 6917 2. 112058 . 616684 0. 580401 1. 954809 1. 968687 0. 982285 1. 675142 0. 628742 30. 17987 33. 40915 11. 92848 10. 77549 10. 69177 6. 127751 33. 67075 58. 74912 45. 59923 69. 52461 -143. 99 2006. 67 28. 147 65. 807 -0. 19548 0. 032794 0. 410675 0. 126398 0. 238356 0. 247085 45. 35528 40. 62774 851. 7743 1451. 897 2. 324494 3. 28205 0. 626681 1. 714777 1. 762163 1. 019801 1. 467784 0. 702189 26. 72182 31. 59228 13. 47214 11. 39519 10. 49671 6. 782897 34. 29647 53. 07467 47. 76861 64. 46986 37. 91 1183. 64 20. 216 26. 782 0. 533263 0. 022627 -0. 15762 0. 255922 -0. 09877 0. 43885 27. 68721 71. 73993 14 How to cite Jk Cement Research Report, Essays