National Federation of Independent Business v Sebelius Essay

Life was different back in the 1880s. The telephone had just been invented, James Garfield was president, and doctors used heroin and cocaine as medicine. Alas, many doctors knew very little about medicine. Oftentimes unsafe and unsterile practices were used on patients. The NY Times reports that, â€Å"At least a dozen medical experts probed the President [Garfield]’s wound, often with unsterilized metal instruments or bare hands, as was common at the time. Historians agree that massive infection, which resulted from unsterile practices, contributed to Garfield’s death. One man suggested that they turn the president upside down and see if the bullet would just fall out. † Because of their usual lack of success, doctors did not charge very much for their services; it was very affordable most of the time, even for middle class families. However, as time and technology progressed, the cost of healthcare and medical instruments dramatically rose. In his â€Å"New Deal† package, President Roosevelt proposed a state-run healthcare system with compulsory health insurance for state residents, but states could choose whether to participate. The federal government would provide some subsidies and set minimum standards that the state had to adhere by. While the proposal did not pass, the idea of universal healthcare coverage for everyone stuck. Since Roosevelt, every single Democratic President elected into office has attempted to pass a version of universal health care, but none have achieved the feat. That is, until President Obama was sworn into office in January 2009. In his 2008 presidential campaign, he made healthcare reform a central issue. Both parties adopted their version of reform, but since Democrats held a majority in the House and the Senate at the time, their version was the one that passed. On March 23rd, 2010, President Obama signed into law the Patient Protection and Affordable Care Act (dubbed by many Republicans as â€Å"ObamaCare†). According to the White House, it claims four key components of the law: stronger consumer rights and protections (which includes a ban on lifetime limits, a ban on denying children health insurance based on pre-existing conditions, and a ban on coverage cancellations), more affordable coverage (Private insurers must provide justification for double-digit increases in premiums), better access to care (Preventative screenings for cancer are now free), and stronger Medicare (Provides relief to seniors who cannot afford prescription drugs). Since insurance companies are required to provide care, it makes sense to buy insurance only when you need it. In other words, wait until you get sick to buy insurance, because they cannot turn you down. In order to combat this, the law includes an individual mandate, which requires anyone that can afford it to buy health insurance, or pay a penalty to the IRS. In essence, this is the part of the law that pays for it all. This is also the section many Republicans hate. In their philosophy, the government cannot force someone to buy something they may or may not need. They argued that this law was unconstitutional, and they sued in federal court to have the law nullified. There were three cases overall: one from the states (Florida v. U. S. Dept. of Health and Human Svcs. ), one from the federal government (U. S. Dept. of Health and Human Svcs. v. Florida), and one from the National Federation of Independent Business (Nat’l Fed. of Independent Bus. v. Sebelius). Due to conflicting rulings from the lower courts in different jurisdictions, the Supreme Court decided to hear the case to settle the differences. From March 26th to March 28th, 2012, the Supreme Court heard oral arguments from both sides. On the first day, the court heard argument over whether the Tax Anti-Injunction Act passed into law in 1867 barred the Supreme Court from even making a decision in this case. The Tax Anti-Injunction Act says, â€Å"No suit for the purpose of restraining the assessment or collection of any tax shall be maintained in any court by any person, whether or not such person is the person against whom such tax was assessed. † Basically, it means that you cannot sue the government for a tax you believe is unfair, until you have already paid that tax. This was passed into law to prevent people from filing lawsuits against the government to avoid paying taxes. Potentially, this could mean that no one can challenge the constitutionality of the ACA (Affordable Care Act) until someone has actually paid the penalty. At the earliest, they could sue on April 15th, 2015. The Supreme Court held that since Congress specifically labeled the consequences of the mandate as a penalty rather than a tax, the Anti-Injunction Act did not apply to this case, and that the court had the authority to hear the arguments. On the second day, the court heard arguments over whether the ndividual mandate component of the ACA fell under the constitutional powers of Congress. There were two arguments from the Solicitor General’s side (the ones supporting the constitutionality of the ACA): the ACA was constitutional under the commerce clause, and that the ACA was constitutional under the taxing power of Congress. The states (the ones claiming the ACA is unconstitutional) argued that Congress could not create commerce for it to regulate, and that the law described the consequences of the mandate a â€Å"penalty†, therefore it is not a tax. On the third day, the court heard arguments on the severability of the law. They questioned whether the ACA could survive if the court struck down the individual mandate. In the end, in a 5-4 decision, the court upheld the individual mandate component of the ACA as a valid exercise of the taxing power of Congress. They concluded that a financial penalty for not buying something constituted a non-direct tax. Because it is a non-direct tax, it is not required to be apportioned among the several states. The justices that voted for the constitutionality of the law are the four liberal justices Sonia Sotomayor, Stephen Breyer, Ruth Bader Ginsburg, Elena Kagan, and the conservative Chief Justice John Roberts. The justices that voted against the constitutionality of the law are the other four conservative justices: Anthony Kennedy, Samuel Alito, Antonin Scalia, and Clarence Thomas. John Roberts was the key swing vote. When asked why he voted for a law he is personally against, Chief Justice John Roberts responded, â€Å"The Framers created a Federal Government of limited powers, and assigned to this Court the duty of enforcing those limits. The Court does so today. But the Court does not express an opinion on the wisdom of the Affordable Care Act. Under the Constitution, that judgment is reserved to the people. In my opinion, I applaud the decision of the Court. From the beginning, I thought the penalty was a tax; I assumed it was called a penalty for political purposes. People would not like the idea of a tax increase. In reality, the penalty is collected in the same manner as a tax, so there are no real differences between the two. I have also gained a newfound respect for Chief Justice John Roberts. I think it is commendable to put the law in front of your personal beliefs. He has done exactly what is expected of a Supreme Court justice. If I were a Supreme Court justice, I would have made he same decision that he and the four liberal justices made. There are two types of consequences this law holds: political and provisional. The provisional consequences of the law are the ones directly stated in the law: a ban on lifetime limits, Medicaid expansion, etc. The political consequences of this law are not explicitly stated, however they can be inferred and speculated upon. There are three major political consequences. The first consequence is that Obama can claim a major victory. He can now say his law withstood a Supreme Court challenge and passed the constitutionality test. A defeat would have been bad for the administration and the campaign. Instead, he has a chance to re-energize his base and reinstate the flow of campaign cash. The second consequence is that now that the law is no longer a legal issue, it becomes a campaign issue. Both Obama and Romney must sell voters on Obamacare. The court ruling could have stir a shift in public opinion among independent voters, and both candidates must appeal to this shift. Obama will insist this law was the right thing to do, while Romney will propose a new healthcare reform bill. The third consequence is that the ruling will enrage Republicans and make them more eager to vote for Romney so he can repeal the law. Voter turnout is expected to be lower than it was in 2008, and anything that can increase the turnout will be beneficial for Romney. This law and its subsequent legal challenge have major political consequences. Whether you live in the 1880s or in the present day, chances are you will need health care at some point in your life. Ever since President Roosevelt proposed universal health care back in the 1930s, many politicians have tried to pass it into law. Until the ACA, it was considered politically impossible; the idea just did not appeal to voters. The law has withstood a major legal challenge, and it will be up to Obama and Romney to convince independent voters that their version of healthcare reform is the best. If Obama wins the election, in 2014 everyone that can afford it must buy health insurance, whether they want to or not. If they don’t, they will pay a tax equivalent to 1% of their income. If Romney wins the election, he will try to repeal the ACA and replace it with a reform package of his own. Only time will tell what will happen.

Financial Derivative Case Studies Essay

INTRODUCTION Financial derivatives have crept into the nation’s popular economic vocabulary on a wave of recent publicity about serious financial losses suffered by municipal governments, well-known corporations, banks and mutual funds that had invested in these products. Congress has held hearings on derivatives and financial commentators have spoken at length on the topic. Derivatives, however remain a type of financial instrument that few of us understand and fewer still fully appreciate, although many of us have invested indirectly in derivatives by purchasing mutual funds or participating in a pension plan whose underlying assets include derivative products. In a way, derivatives are like electricity. Properly used, they can provide great benefit. If they are mishandled or misunderstood, the results can be catastrophic. Derivatives are not inherently â€Å"bad.† When there is full understanding of these instruments and responsible management of the risks, financial derivatives can be useful tools in pursuing an investment strategy. DERIVATIVES: A derivative is a contractual relationship established by two (or more) parties where payment is based on (or â€Å"derived† from) some agreed-upon benchmark. Since individuals can â€Å"create† a derivative product by means of an agreement, the types of derivative products that can be developed are limited only by the human imagination. Therefore, there is no definitive list of derivative products. Why Have Derivatives? Derivatives are risk-shifting devices. Initially, they were used to reduce exposure to changes in foreign exchange rates, interest rates, or stock indexes. For example, if an American company expects payment for a shipment of goods in British Pound Sterling, it may enter into a derivative contract with another party to reduce the risk that the exchange rate with the U.S. Dollar will be more unfavorable at the time the bill is due and paid. Under the derivative instrument, the other party is obligated to pay the company the amount due at the exchange rate in effect when the derivative contract was executed. By using a derivative product, the company has shifted the risk of exchange rate movement to another party. More recently, derivatives have been used to segregate categories of investment risk that may appeal to different investment strategies used by mutual fund managers, corporate treasurers or pension fund administrators. These investment managers may decide that it is more beneficial to assume a specific â€Å"risk† characteristic of a security. For instance, several derivative products may be created based on debt securities that represent an interest in a pool of residential home mortgages. One derivative product may provide that the purchaser receives only the interest payments made on the mortgages while another product may specify that the purchaser receives only the principal payments. These derivative products, which react differently to movements in interest rates, may have specific appeal to different investment strategies employed by investment managers. The financial markets increasingly have become subject to greater â€Å"swings† in interest rate movements than in past decades. As a result, financial derivatives have appealed to corporate treasurers who wish to take advantage of favorable interest rates in the management of corporate debt without the expense of issuing new debt securities. For example, if a corporation has issued long term debt with an interest rate of 7 percent and current interest rates are 5 percent, the corporate treasurer may choose to exchange (i.e., Swap), interest rate payments on the long term debt for a floating interest rate, without disturbing the underlying principal amount of the debt itself. RISK INVOLE IN DERIVATIVES: There are four risk associated with derivatives. * Market risk * Operational risk * Counter party credit risk * Legal risk Market risk: The risk to earnings from adverse movements in market prices. Operational risk: The risk of losses occurring as a result of inadequate systems and control, human error, or management failure. Counter party credit risk: The risk that a party to a derivative contract will fail to perform on its obligation. Exposure to counterparty credit risk is determined by the cost of replacing a contract if a counterparty (as a party to a derivatives contract is known) were to default. Legal risk: The risk of loss because a contract is found not to be legally enforceable. Derivatives are legal contracts. Like any other contract, they require a legal infrastructure to provide for the resolution of conflicts and the enforcement of contract provisions. CORPORATION: BARING: Barings PLC was the oldest merchant bank in Great Britain. Founded in 1762. With total shareholder equity of  £440 million, it was far from the largest or most important banking organization in Great Britain. Barings had long enjoyed a reputation as a conservatively run institution. But that reputation was shattered on February 24, 1995, when Peter Baring, the bank’s chairman, contacted the Bank of England to explain that a trader in the firm’s Singapore futures subsidiary had lost huge sums of money speculating on Nikkei-225 stock index futures and options. In the days that followed, investigators found that the bank’s total losses exceeded US$1 billion, a sum large enough to bankrupt the institution. STRATEGIES AND TRANSACTION: CONTEXT: In 1992, Barings sent Nicholas Leeson, a clerk from its London office, to manage the back-office accounting and settlement operations at its Singapore futures subsidiary. Baring Futures (Singapore), hereafter BFS, was established to enable Barings to execute trades on the Singapore International Monetary Exchange (SIMEX). The subsidiary’s profits were expected to come primarily from brokerage commissions for trades executed on behalf of customers and other Barings subsidiaries. Most of BFS’s business was concentrated in executing trades for a limited number of financial futures and options contracts. These were the Nikkei-225 contract, the 10 year Japanese Government Bond (JGB) contract, the three-month Euroyen contract, and options on those contracts (known as futures options). The Nikkei-225 contract is a futures contract whose value is based on the Nikkei-225 stock index, an index of the aggregate value of the stocks of 225 of the largest corporations in Japan. The JGB contract is for the future delivery of ten-year Japanese government bonds. The Euroyen contract is a futures contract whose value is determined by changes in the three-month Euroyen deposit rate. A futures option is a contract that gives the buyer the right, but not the obligation, to buy or sell a futures contract at a stipulated price on or before some specified expiration date. STRATEGIES: During late 1992 or early 1993, Leeson was named general manager and head trader of BFS. Leeson never relieved his authority over the subsidiary’s back-office operations when his responsibilities expanded including trading. Barings’s management understood that such trading involved arbitrage in Nikkei-225 stock index futures and 10-year Japanese Government Bond (JGB) futures. Both contracts trade on SIMEX and the Osaka Securities Exchange (OSE). Leeson soon embarked upon a much riskier trading strategy. Rather than engaging in arbitrage, as Barings management believed, he began placing bets on the direction of price movements on the Tokyo stock exchange. Leeson’s reported trading profits were spectacular. His earnings soon came to account for a significant share of Barings total profits; the bank’s senior management regarded him as a star performer. After Barings failed, however, investigators found that Leeson’s reported profits had been fictitious from the start. By manipulating information on his trading activity, Leeson was able to conceal his trading losses and report large profits instead. A major part of Leeson’s trading strategy involved the sale of options on Nikkei-225 futures contracts. The seller of an option earns a premium in return for accepting the obligation to buy or sell the underlying item at a stipulated strike price. If the option expires â€Å"out-of-the money,† the option premium becomes the seller’s profit. If prices turn out to be more volatile than expected, however, an option seller’s potential losses are virtually unlimited. Sometime in 1994, Leeson began selling large numbers of option straddles, a strategy that involved the simultaneous sale of both calls and puts on Nikkei-225 futures. TRANSACTION: Leeson’s trading losses from 1992 through the end of February 1995. By the end of 1992—just a few months after he had begun trading—Leeson had accumulated a hidden loss of  £2 million. until October 1993, when his losses began to rise sharply. He lost another  £21 million in 1993 and  £185 million in 1994. Total cumulative losses at the end of 1994 stood at  £208 million. That amount was slightly larger than the  £205 million profit reported by the Barings Group as a whole, before accounting for taxes and for  £102 million in scheduled bonuses. By January 1, 1995, Leeson was short 37,925 Nikkei calls and 32,967 Nikkei puts. He also held a long position of just over 1,000 contracts in Nikkei stock index futures, which would gain in value if the stock market were to rise. WHAT WENT WRONG? HOW WAS THE LOSS ACCUMULATED? Disaster struck on January 17 when news of a violent earthquake in Kobe, Japan, sent the Japanese stock market into a tailspin. Over the next five days, the Nikkei index fell over 1,500 points Leeson’s options positions sustained a loss of  £68 million. As stock prices fell, he began buying massive amounts of Nikkei stock index futures. By February 6, the Japanese stock market had recovered by over 1,000 points, making it possible for Leeson to recoup most of the losses resulting from the market’s reaction to the earthquake. cumulative losses on that date totaled  £253 million, about 20 percent higher than they had been at the start of the year but within some days market began to fall again making losses to multiply. Barings faced massive margin calls as Leeson’s losses mounted. While these margin calls raised eyebrows at the bank’s London and Tokyo offices, they did not prompt an immediate inquiry into Leeson’s activities. It was not until Feb ruary 6 that Barings’s group treasurer, Tony Hawes, flew to Singapore to investigate irregularities with the accounts at BFS. Barings had committed a total of  £742 million to finance margin calls for BFS. WHO WAS RESPONSIBLE FOR THE LOSS? Some observers blame this lack of communication on the rivalry between the two exchanges. Communication between SIMEX and the OSE was minimal, however this lack of communication not only helped make it possible for Leeson to accumulate large losses but also hampered efforts to contain the damage once Barings collapsed. The exchange’s attitude toward Barings was influenced in part by the bank’s strong international reputation, but its willingness to relax normal risk management guidelines also may have been attributable to its desire to attract business. Events surrounding the collapse of Barings have served to highlight weaknesses in risk management on the part of SIMEX and other futures exchanges. Barings’ collapse was due to the unauthorized and ultimately catastrophic activities of, it appears, one individual (Leeson) that went undetected as a consequence of a failure of management and other internal controls of the most basic kind. Management failed at various levels and in a variety of ways WHAT LESSONS ARE TO BE LEARNED FROM THE CASE/ DISASTER? HIGHLIGHTED WEAKNESS: (1) The lack of communication between securities and futures exchanges and regulators in different countries, and (2) Conflicting laws on the legal status of customer accounts at futures brokers and clearing agents in the event of insolvency. These weaknesses can be addressed only by increased international cooperation among futures exchanges, regulators, and lawmakers. * Management teams have a duty to understand fully the businesses they manage. * Responsibility for each business activity has to be clearly established and communicated. * Clear segregation of duties is fundamental to any effective control system. * Relevant internal controls, including independent risk management, have to be established for all business activities. * Top management and the Audit Committee have to ensure that significant weaknesses, identified to them by internal audit or otherwise, are resolved quickly. METALLGESELLSCHAFT: Metallgesellschaft AG (hereafter, MG) is a large industrial conglomerate engaged in a wide range of activities, from mining and engineering to trade and financial services. In December 1993, the firm reported huge derivatives-related losses at its U.S. oil subsidiary, Metallgesellschaft Refining and Marketing (MGRM). STRATEGIES AND TRANSACTION: CONTEXT: In 1992, MGRM began implementing an aggressive marketing program in which it offered long-term price guarantees on deliveries of gasoline, heating oil, and diesel fuels for up to five or ten years. The first was a â€Å"firm fixed† program, under which a customer agreed to fixed monthly deliveries at fixed prices. The second, known as the â€Å"firm-flexible† contract, specified a fixed price and total volume of future deliveries but gave the customer some flexibility to set the delivery schedule. STRATEGY: By September 1993, MGRM had committed to sell forward the equivalent of over 150 million barrels of oil for delivery at fixed prices, with most contracts for terms of ten years. Both types of contracts included options for early termination. These â€Å"cash-out provisions† permitted customers to call for cash settlement on the full volume of outstanding deliveries if market prices for oil rose above the contracted price. Its contracted delivery prices reflected a premium of $3 to $5 per barrel over the prevailing spot price of oil. MGRM sought to offset the exposure resulting from its delivery commitments by buying a combination of short-dated oil swaps and futures contracts as part of a strategy known as a â€Å"stack-and-roll† hedge. TRANSACTION: In its simplest form, a stack-and-roll hedge involves repeatedly buying a bundle, or â€Å"stack,† of short dated futures or forward contracts to hedge a longer-term exposure. Each stack is rolled over just before expiration by selling the existing contracts while buying another stack of contracts for a more distant delivery date; hence the term stack-and-roll. MGRM implemented its hedging strategy by maintaining long positions in a wide variety of contract months, which it shifted between contracts for different oil products (crude oil, gasoline, and heating oil) in a manner intended to minimize the costs of rolling over its positions. Had oil prices risen, the accompanying gain in the value of MGRM’s hedge would have produced positive cash flows that would have offset losses stemming from its commitments to deliver oil at below-market prices. As it happened, however, oil prices fell even further in late 1993. Moreover, declines in spot and near-term oil futures and forward prices significantly exceeded declines in long-term forward prices. As a result, contemporaneous realized losses. WHAT WENT WRONG? HOW WAS THE LOSS ACCUMULATED? Decline in oil prices caused funding problems for MGRM. The practice in futures markets of marking futures contracts to market at the end of each trading session forced the firm to recognize its futures trading losses immediately, triggering huge margin calls. Normally, forward contracts have the advantage of permitting hedgers to defer recognition of losses on long-term commitments. But MGRM’s stack-and-roll hedge substituted short-term forward contracts (in the form of short-term energy swaps maturing in late 1993) for long-term forward contracts. As these contracts matured, MGRM was forced to make large payments to its counterparties, putting further pressure on its cash flows. At the same time, most offsetting gains on its forward delivery commitments were deferred. MG reported losses of DM 1.8 billion on its operations for the fiscal year ended September 30, 1993, in addition to the DM 1.5 billion loss auditors attributed to its hedging program as of the same date. WHO WAS RESPONSIBLE FOR THE LOSS? MG’s board of supervisors fired the firm’s chief executive and installed new management. The board instructed MG’s new managers to begin liquidating MGRM’s hedge and to enter into negotiations to cancel its long-term contracts with its customers. This action further complicated matters. The actions of MG’s board of supervisors in this incident have spurred widespread debate and criticism, as well as several lawsuits. Some analysts argue that MGRM’s hedging program was seriously flawed and that MG’s board was right to terminate it. Others, including Nobel Prize-winning economist Merton Miller, argue that the hedging program was sound and that MG’s board exacerbated any hedging-related losses by terminating the program too early. WHAT LESSONS ARE TO BE LEARNED FROM THE CASE/ DISASTER? Considering the debate over the merits of MGRM’s hedging strategy, it would seem naive simply to blame the firm’s problems on its speculative use of derivatives. It is true that MGRM’s hedging program was not without risks. But the firm’s losses are attributable more to operational risk—the risk of loss caused by inadequate systems and control or management failure—than to market risk. If MG’s supervisory board is to be believed, the firm’s previous management lost control of the firm and then acted to conceal its losses from board members. If one sides with the firm’s previous managers (as well as with Culp, Hanke, and Miller), then the supervisory board and its bankers misjudged the risks associated with MGRM’s hedging program and panicked when faced with large, short-term funding demands. Either way, the loss was attributable to poor management. FINAL CONCLUSION OF BOTH CASES: The cases of Metallgesellschaft and Barings provide an interesting study in contrasts. Both cases involve exchange-traded derivatives contracts. In both cases, senior management has been criticized for making an insufficient effort to understand fully the activities of their firms’ subsidiaries and for failing to monitor and supervise the activities of those subsidiaries adequately. But while critics have faulted MG’s management for overreacting to the large margin calls faced by one of its subsidiaries, Barings’s management has been faulted for being overly complacent in the face of a large number of warning signs. If these two disparate incidents offer any single lesson, it is the need for senior management to understand the nature of the firm’s activities and the risks that those activities involve.

Critical film review Essay Example | Topics and Well Written Essays - 500 words

Critical film review - Essay Example Until today, out-of-body experiences raise eyebrows, and for some, they would rather shrug it off as mere dreams with nothing beyond that. Dreams and reality do not meet for many. In this film though, the two are merged with a lot of ease (McElroy, 2007). As the story opens, detective Toshimi Konakawa is seeing Paprika for counseling. He has a recurring dream that has disturbed him for quite a while. As much as disembodied experiences are not as credible to the natural senses as other forms of reality, they are real, and they exist. If we become obsessed so much with disembodied experiences than in other easily tangible reality, we can be overwhelmed. Individuals cannot understand the nature of this other reality that is a bit too abstract (Haddock, 2001). This is what happens to Doctor Torataro Shima when he realizes that the gadget he treasured had been stolen and there was no hope of getting it back. He almost commits suicide. To Shima, this scientific discovery is like a dream and the experience makes him walk on clouds. Dreams and out-of-body experiences are pleasurable, but it is clear too that there is a big disconnect between reality and such experience. Many people including philosophers of ancient time agree that dreams come to reveal things repressed in to our unconscious mind. In this film, when people get to move around freely and interact in dreams, they are in a way building on the same premises. As Konakawa comes to realize later as the film closes, the blanks he had been having in his recurrent dreams were as a result of an unfinished film that they wanted to produce with deceased friend. Another eminent element is that experience in dreams and out-of-body episodes can actualize in the reality. In his constant dream, and in his role, in the film, he acts as a cop; just what they had agreed with his deceased friend when preparing for their movie (Schofield, 2004). Paprika is almost

IMPACT OF INTEREST RATES ON THE HOUSEING MARKET Essay

IMPACT OF INTEREST RATES ON THE HOUSEING MARKET - Essay Example In terms of the 15 and 30 year mortgage rates since 2001, the rates have remained close to the interest rates set by the Feds. The connection between the two is certainly obvious therefore an understanding of the federal rate is important to obtain an understanding of the housing market. The federal rate is the rate of interest at which depository institutes loan out their holdings in the Federal Reserve to other depository institutes on an overnight basis (Arnold, 2005). This rate is different from the discount rate which the Federal Reserve uses to calculate loan payments for financial institutions. The federal rate has many important implications for the economy of the country and changes in this rate would affect everything from mortgage rates to the stock market. It also has a significant impact on economic growth depending on several factors in the monetary policy being followed by the country. Fundamentally, the Federal Reserve System operates to ensure that all American banks keep a certain level of reserves which are normally a percentage of the value of the bank’s demand accounts (Arnold, 2005). Since this is a regulatory requirement, banks may borrow money from each other to maintain such a level of reserves and the interest rate paid between banks would be the Federal Rate. Through these means, the Federal Reserve has considerable power over the supply and demand for balances of Reserve Banks. The monetary experts at the Federal Reserve are supposed to ensure that the rate is set at such a level that it will create economic growth and stability in the economy. However, the economic demands have to be balanced with the political and social realties which may influence how and at what exact level the rate is set (Wikipedia, 2006). The Federal Reserve therefore adjusts the rate periodically to keep the economy running smoothly. However, even a

Word Essay Example | Topics and Well Written Essays - 500 words

Word - Essay Example The first imperative ethical issue facing him is the fact that he has setup a system that allows him to trace information such as emails sent among his fellow employees. This is a violation of communication privacy that is usually avoided in majority of work places. Additionally, Mr. Child’s has setup the system through passwords that gives him the absolute access to all the information. These passwords do not allow other employees to access imperative work information. Moreover, Mr. Child’s has been working overtime without the instructions of his employers. This is another instance where he violated work ethics that guides the general time period, which employee should perform their duties. Consequently, he was found guilty of creating a vulnerable system through Digital Subscriber Line that allows unauthorized persons to access the Company’s information from online sources. This is a violation of the ethics that guide the privacy of a company’s information. The ethical issue in the case study provided, involves poor management of information among the employees specifically caused by Child’s actions. It affects the company’s efficacy of modus operandi in regard to their access to information. Indeed this scenario involves decision making in order to eliminate undesirable modes of information management within the company. Consequently, the case is more than legal as it entails making decisions ascribed to work ethics within a department. The case study presents a scenario where there is poor inter-personal relationship between Mr. Child and other employees. There is also poor information management majorly due to violation of communication ethics. Mr. Child and his employer seem to be the cause of the problem thus they are important in determination of the final outcome. Another crucial way, which can facilitate decision making in this case is facilitating dialogue between Mr. Child and his Employers outside the court. This can be done by a

Causes and Effects of Tattoos Essay Example | Topics and Well Written Essays - 1000 words

Causes and Effects of Tattoos - Essay Example It is characterized to be Tahitian, tatau, meaning an indelible figure fixed upon the body especially by the insertion of pigment under the skin (Merriam Webster Dictionary 732). However, these signs which used to be mere adaptation and camouflaged have advanced into many different uses dependent upon the enthusiast or fanatic. Aficionados vary in attitude, age, lifestyle or standard of living and interest, much as are the designs, motifs, consequence and significance. Nonetheless, the acquisition of infectious diseases corollary to motivations and driving forces is blameworthy. Whether healthy or unhealthy, in fad or mainstream, an aesthetic or natural, religious or secular, figurative or literal tattoo has its doable side. It is a mechanism of driving in some colorant using sharp edge instrument down to the dermal layer of the body's first line of defence. The human skin as an organ protects the underlying parts from physical trauma, pathogen invasion, and water loss (Mader 730). Infringing through the homogeneous epidermal sub layers: 1-a) twenty to thirty tiers of keratinized squamous epithelial cells making up the cornified outermost level, the stratum corneum; and 1-b) basal cuboidal cells, highly mitotic cells producing replacement epidermal cells for sloughed keratinized portion; and the dermis, the inner stratum of : a) connective tissues consisting of collagen, reticular and elastic fibres, blood vessels, nerves, pigment cells, adipocytes and fibroblast; b) sebaceous and sweat glands; c) hair follicles; and d) the papillary layer (Ayque 42-43) wou ld naturally wind up to its malfunction. In the dermis too are small receptors for pressure, touch, temperature and pain (Mader 731). Immunity, the ability of the body to defend itself and as non-specific defences consist of barriers to entry, inflammatory reaction, natural killer cells and protective protein. Any minor injury resulting from broken skin would result to redness, swelling, and pain. This would mean destruction to the epidermis, the underlying connective tissues and mast cells (Mader 762). It is the creation of an avenue for microbial invasion. Although the human body has its natural flora of microorganisms called indigenous microflora (Burton and Paul Engelkirk 5), opportunistic pathogens may cause a dilemma. A case in point is the intrusion of Escherichia coli. It is a species of coliform bacteria of the family Enterobacteriaceae, normally present in the intestines and common in water, milk, and soil. E. coli is the most frequent cause of urinary tract infection and is serious gram-negative pathogen in wounds. E. coli septicemia may rapidly result in shock and death through the action of an endotoxin released from the bacteria (Mosby's Pocket Dictionary of Medicine, Nursing and Allied Health 458). It may gain access into the bloodstream passing through lesion causing septicemia (Burton and Paul Engelkirk 488). It is typified by fever, chill, hypotension, pain, headache, nausea, or diarrhea (Mosby's Pocket Dictionary of Medicine, Nursing and Allied Health 1155-1156). Other opportunistic pathogens as human indigenous microflora are Staphylococcus aureus and Enteroccocus spp (Burton and Engelkirk 260). Staphylococcal infection of the skin includes carbuncles, folliculitis, furuncles, and hindradenitis supurativa. Bacteremia, the presence of bacteria in the blood is common and may result in

The Retributivist and Utilitarian Theories for Justification of Essay

The Retributivist and Utilitarian Theories for Justification of Criminal Punishment - Essay Example The matter of penal sanctions, therefore, became an issue among legal theorists; apparently, there comes a point when the penalty is too harsh as to itself be disruptive of the social peace, or that the penalty is too inconsequential that offenders do not think twice about transgressing the law. In order to create effective penal laws, the philosophy and purpose behind the punishment should be examined and their merits and shortcomings understood. Of all frameworks that have been proposed, two stand out in particular in penal theory, namely the retributivist and the utilitarian theories. Retributivism and Utilitarianism There are four fundamental justifications behind criminal punishment: retribution, deterrence (including incapacitation), rehabilitation, and protection of society (Hagan, 2010:103). Deterrence means that punishment serves to warn possible future offenders and inhibit them from committing crimes. Rehabilitation aims to reform or resocialize the criminal into law-abidi ng and compliant members of society. Protection and upholding of social solidarity is simply what it expresses – the protection of society and reaffirmation of social solidarity and values. These three justifications fall under utilitarian theory, because they deal with the effect of the criminal deed on society and to maximize the good such punishment can provide for the greater number, the community (Yacoubian, 1998). Retribution, on the other hand,â€Å"is a moral motive for punishment, not simply a utilitarian one† (Hagan, 2010:103). In this purpose of punishment, the fundamental aim is to restore justice to those who had suffered as well as to society as a whole. In retributivism, neither the future conduct of the offender nor the future impact on society are significant in determining punishment (Yacoubian, 1998) Hagan describes it quite appropriately as society’s equivalent for the individual’s revenge. In the pre-modern age, a person wronged by a crime is entitled to seek vengeance to right the wrong done to him. Modern legal theory assumes this role for the individual, and takes the crime to be an offense not only against the individual but against society itself. Victims of the crime may not pursue their own revenge, but allow the state to pursue, on its behalf and theirs, the penal act that restores the balance of justice. An example of retributive justice is the hunt for and punishment of Nazi war criminals. Such punishment may not significantly serve such purposes as deterrence, protection of society, least of all rehabilitation. However, there remains the public outrage throughout the years that such criminals had gotten away with their war crimes (Hagan, 2010). There is a need to inflict some suffering on the criminal commensurate to the crime done, for the simple reason that justice must be restored. This is the crux behind retributive justice (Haist, 2009). Virtually ignored during the first three quarters of the tw entieth century, retributivism again assumed dominance as the underlying theory of the criminal justice system (Ackerman, 2011:220). What had prevailed for the greater part of the 20th century was Utilitarianism as the overriding theory in criminal punishment. According to Mills (1938), â€Å"Utilitarianism is the ethical doctrine that the moral worth of an action is solely determined by its contribution to overall utility.† Utility here is understood to mean the good (also called â€Å"happiness†

Mal-Adapted Essay Example | Topics and Well Written Essays - 1000 words

Mal-Adapted - Essay Example The mentioned contributions, however, are not exhaustive and are only intended to demonstrate the extent to which IT has become an integral part of corporate life and the business process. At the same time, however, IT functions as an organization's primary area of vulnerability as it is through their malicious use that attackers can infest an organization's system with viruses, worms, spyware and countless other types of malware (Gold, 2001; Rhode-Ousley, Bragg and Strassberg, 2003; Chen, Thompson and Elder, 2005). In light of dependency versus vulnerability, therefore, it is incumbent upon organization's and business entities to institute such protections as would shield the entity from such attacks. Sometimes, however, whether intentional or unintentional, the attack may come from within. Discussing the extent of my organization's vulnerability to malware with the head of the network and ICT department, I learnt that the company had been subjected to several attacks in the past, two of which were quite serious and, both caused by the activities of employees. As the head of the ICT department remarked as a prelude to his description of the attacks, two years ago and, in the wake of an external attacks which bordered on the catastrophic, the organization made a substantial investment in network security. At the department's recommendation, the organization's leadership consented to the implementation of third generation IA technologies which focused on in-depth defense. As explained by Liu, Yu, and Jing (2005, p. 112) this type of IA embraces all of as "(a) boundary controllers, such as firewalls and access control, (b) intrusion detection and (c) threat/attack/intrusion response." Upon the implementation of the defined system, the general assumption was that the organ ization was immune to external attacks and to malware. This, as evidenced by later events, was an erroneous assumption. The source of the first malware infestation suffered by the organization following the implementation of the defense in depth IA system, came from the Research an Development Department. The ICT department had initially recommended the securitization of the network against direct downloads from the internet, even at the explicit request and consent of users. The R&D department had vehemently argued against this, emphasizing that were such a security procedure to be implemented, their work would be literally brought to a standstill. The argument presented was persuasive and, therefore, the R&D department maintained the mentioned privilege. Less than two months following the implementation of the system, complaints regarding adware and spam email which contained malicious attachments, remained high, to the extent that it seemed as if the defense in depth system installed was ineffectual. Indeed, the department remained as engaged as ever in the removal of adware and in dealing with malicious spam. Needless to say, the cost of wasted time and effort was substantial since, as the employees whom I discussed this event with recalled, attempting to access the internet was futile. Pop-ups and constant redirections from addresses initially requested simply meant that getting any work done was a monumental task in itself. The ICT department, as the head informed me, determined to trace the source as the possibility of the installed system being ineffectual simply defied logic. As the

College Is Not for Everyone Essay Example for Free

College Is Not for Everyone Essay College is not for everyone, but for these three high school students that is all they believe in. Most students’ think about boys, girls, prom, sports, etc. the list could go on in a teenagers head, nothing about their future or college. So when talking to an uplifting student such as Philippian about her education, it gives hope to educators, and inspires others to take their education seriously. Philippian Chatman a 17 year old senior, who attends Aldine Senior High School, is very passionate about school. â€Å"If you want to pursue your career and goals, college should be one of your main priorities, my parents have instilled in me to go to school and college, they worked hard to provide a life for me so that I can have an opportunity to go to college. † Said Chatman Education is such a big deal to many people but for Chatman it is her main priority. â€Å"I want to major in debate, teaching, and photography. I really like photography because people always see action in movies but photography you can say a lot without words. † Said Chatman. When asking what college’s Chatman was looking into, she had set high standards for her to achieve. â€Å"I would love to go to Duke, University of Texas, or PV. â€Å" Wondering why not Texas Southern University, she said â€Å" It’s a nice campus but just not for me, I would rather go away from home and venture out on my own. † Statistics shows total number of high school drop outs annually is 3,030,000. The numbers increase every year, especially for male students. Education is the future for today’s students, yet little take so seriously. For Edwin Rebollar, a 16 year old senior at Aldine high school, works very hard to make his education his first priority as well. He talks highly about going to college and goes out his way to make good grades. He also speaks highly about his parents pushing to go further with his education. â€Å"I feel like college can open so many opportunities for me, and I want to be something in life. † Rebollar said â€Å"my parents are really strict on my education, if I didn’t go to college they would be very disappointed to let my education go to waste. † Said Rebollar â€Å"I am really interested in films and that is what I want to go to college for. † Rebollar said. Also another great student who attends Eisenhower, is 15 year old McKenzi Pope, who talks nothing but about college, was very excited about what Texas Southern had to offer for their annual high school day. â€Å"I feel like everyone should go to college because it help expresses them, and also it’s a new beginning of getting to know who you are. † McKenzi said. â€Å"My family is so proud of what. I’m trying to do. † My mom always said my speech is going to take me far and I’m trying to let it take me all the way to Harvard University. I want to major in communications, I’m going to become something that my family will be proud of. â€Å" One thing that all students had in common was their passion for their education and the support of their parents to back them up. There is also the educators who always want to teach their students and making sure their retaining all the knowledge that they are giving out. Most teachers feel as though if there is no family support nor the want to learn then the student will be just another statistic and drop out. Omar Peters who is a Media teacher at Jack Yates High school, feels highly strong about his students learning and making sure they are able to go out and use it in the real world. â€Å" I make sure they understand the fundamentals. † I wanted my students to understand this is a very competitive field, and if you do not understand the technical side of this business you will not make. † I have gotten most of my students internships, jobs, e.

June Yip proposes post colonialism to evaluate Taiwanese films Essay Example for Free

June Yip proposes post colonialism to evaluate Taiwanese films Essay June Yip analyzes Taiwan in the book Envisioning Taiwan as a new breed of country in the postcolonial era which has least interest in the idea of nation-state, maintaining it’s very local faces as well as open to international influences with much surprise. Yip takes a look at Taiwan’s post-national territory status through its fiction and cinema movement concentrating her attention to filmmaker Hou Hsiao-hsien. (Winterton) Taiwan has a long history of colonialism and suppression, but the multinational capitalism, mass migration, the arrival of new electronic media; all these encouraged a postmodern culture and have questioned the traditional limit as well as made the notion of nation irrelevant. June Yip emphasizes the hybrid nature of identity as fallout of postmodernism, is vastly reflected in the present form of Taiwanese films. The earlier versions were more conventional and guarded the theme of nationhood. She points in her book Hou’s films present a picture â€Å"the island as an increasingly complex and hybrid social space, an ever-changing formation†. (Yip, 230) Yip focuses that Taiwanese New Cinema, emerged in the 1980’s and its patrons are fascinated with displaying the socio-historical qualities of modern Taiwan’s experience and also to form a sense of Taiwanese cultural identity with centralizing on the search for nationhood in their works. They represent the tough transition period of Taiwan’s history through which the island came to the global order and try to depict the same in their films with â€Å"a quest for an understanding of a modern Taiwanese experience† and rising questions from present and future. (Yip, 10) Yip also presents the grim picture of Taiwan’s history where under various regimes; either Japanese or Chinese, the linguistic medium of films was strictly regulated by the ruling authorities. Most of these languages were foreign to the locals while the local medium was eclipsed. So, in modern Taiwanese cinema, a global touch could be felt where characters easily switch from Taiwanese to Mandarin to Japanese to English, showcasing a multicultural effect. (Yip, 6) Yip clarifies that Taiwan’s cultural awareness took time to surface itself on cinema due to its colonial Hanover. As there is a strong link between cinema and the idea of nationhood but in the later half of the 20th century the cinema carried a huge responsibility of nation building as being a visual medium. Government was always involved in making of Taiwanese films but in 1990’s it felt the need to loose the belts as to get back commercial as well as critical acclaim. Most of the film personalities have grown the age of rigidity, so when they started working they tries their best to free themselves from the knuckles and criticized the government under its banner itself as well as displayed the new experiences with global changes. The films Three Times and Puppetmaster have shown the changes of post colonialism. Three Times is a film consisting of three episodes based in three periods of Taiwanese history showcasing the problems of the turbulent times in the history, urge for freedom and also the confusion prevailing in a contemporary city. The Puppet master recollects the life of a puppeteer spanning during the period of Japanese occupation of the island and portraying the sorry state of the Taiwanese people and their hardships and also depicts the loss of tradition under suppression and western influence. Both the films in their respective themes lament sufferings of the history and urge to come out of the rigid circumstances supporting Yip’s thesis. (Schumann) While The Wedding Banquet is a drama with humorous touch where personal relationships, based on generation and cultural conflicts within individuals of slender theme rather matching the concept of analysis of Yip of Taiwanese cinema.

Mini Bran Re positioning Analysis

Mini Bran Re positioning Analysis According to the book Strategic brand management by Kevin Lane Keller (2008) , Identifying and creating brand positioning is the first and important stage of the strategic brand management process. Positioning effects on a founding benchmark and works toward building a strong brand by helping marketers to design, to implement, to solidify or to sustain brand associations. Aaker ( ) also supports the idea that the brand position can offer clear direction to a communication program implementation. To establish the position of a brand, the concept of it should be clearly defined. Criticism of the literature reveals numerous meanings and clarification of positioning. Sekhar, (1989) states that the concept of positioning developed from research on market segmentation and targeting. Kotler (2003, p. 308) defines brand positioning as the act of designing the companys offering and image to occupy a distinctive place in the mind of the target market. The end result of positioning is the succe ssful creation of a customer-focused value proposition, a cogent reason why the target market should buy the product. Arnott (1992, 1993) parallels the idea by stating that positioning is, correlated to the rivalry, management attempt to adjust the tangible features and the intangible views of a marketable contribution. Furthermore, Kapferer, (2004, p. 99) emphasises on the distinctive characteristics that make a band different from its competitors and alluring to the public. In addition, Sengupta (2005 ) enhances the term of perception that indicate the core of the brand in terms of its functional and emotional benefit in the decision of customer. Also, it is shown as points in perceptual space and think up a product class. In essence, Keller outlines the idea behind the concept of brand positioning that involves four aspects; target market identification, the nature of competitors, the ideal of points of parity, and the points of difference. Identifying target market is crucial part in establish a robust positioning because dissimilar segment may have diverse brand knowledge structure or perceive the same brand in different way vary by own attitudes, beliefs, and experience. The target customer can be classified as descriptive (customer-oriented), which associated to the kind of customer or behavioral (product-oriented), which related to how customers consider of or utilizes the brand or product. The behavioral side is more significant to comprehend brand position due to stronger strategic implication. Decided type of target can, then, implicitly sketches the nature of rivalry because businesses usually target that same segment in terms of category membership. Once the appropriate competitive frame of reference for positioning has been formed, the correct points of parity (POPs) and points of difference (PODs) are able to make. Point of parity (POPs) are characteristics or benefits that may mutual with other brands separated into two forms: category and competitive. Category point of parity is a standard association expected by customers to show the credibility of companies. Competitive Point of parity are associations designed to abolish rivalry Point of difference. It is used when firms want to break even the area that competitors are attempting to seek an advantage and achieve advantages in some other areas. To illustrate, to enter in the fast food industry, there are key elements that help customers to label a brand as a fast food restaurant such as quick service, good taste, and low prices. These are fundamental features and benefits of product category that it belongs to. Point of difference, on the other hand, comprises of strong, favorable and unique associations for a br and based on attribute or benefit association in the mind of customer. It is associations that customers believe that they couldnt find in the competitive brand. It is considered by functional basis, performance-related consideration and imagery related criterion, which are competitive strengths and insight about consumers motivations. Reeves and Ted Bates advertising agency (1950) also support the common concept of PODs in terms of unique selling proposition (USP) that promoting use to compel customers to buy product that competitors could not race. For instance, fast-food chain Subway uses the healthier benefit as PODs compared with other quick-serve restaurants that supported by less fat attribute. Nike, for another example, claim of superior performance in athletic shoes. Nowadays, business environment is becoming more intensively competitive. Marketers must certify that their brands constantly amend to stay s, at the same time as keeping on the true core values (Aaker, 1991; Keller, 1999). There are many reasons that make a firm to reconsider about its brand position which could be environmentally driven, Consumer driven, Competitor driven, and company driven. The environmentally driven can cause by economic issue, political issue, or the green movement. Consumer driven is able to be the change of consumer needs and lifestyles or the attractiveness of alternative target markets . Moreover, the driven from internal of company usually be a change in company strategy or gaining of new technology or other asset that provides the brand a competitive advantage and valuable differentiator. Finally, the essential reason that affects a brand to reposition is the competitor movement. Markets are shredded and full with proposition that rivals try to display the ir point of different and superior positioning. Then, the brand may be faced by a new stronger positioning. Often, competitive advantages survive for only a short period before competitors attempt to match them, which may harm the brand positioning in terms of building satisfactory distinction benefits over their contenders (Clancy and Trout, 2002). Thus, brand should react by using repositioning strategy to change and stay contemporary and fresh in the eyes of customers. Trout and Ries () propose an idea of the repositioning that involve with competition, change, and crisis issues. Firstly, repositioning can compete the rival by discriminate the brand or product and add value to it. Secondly, since time pass by, brand should update itself and make connection to target customer by using technology and communication and multimedia assets. Finally, repositioning can cure the crisis especially the cost issue. Ryan et al ()also gives the meaning of repositioning that is the way to re-ad apt brand position the consumers thought to change the way in which a firms product or service is apprehend. Basically, positioning and repositioning are the same; they are both process of getting ownership of a place in the thoughts of the target market that is proper, differentiating and fascinating. These two activities are , likewise, bases on the Customer Based Brand Equity (CBBE) Model settled by Keller in 1993 which defined as the different effect that consumer knowledge has on the customers response to marketing activity. To clarify, this paper will show the illustration of two repositioned brand of the automobile industry in both successful and fail way. Begin with brand that succeed in repositioning that is MINI, The MINI (original named Mini) is one of the most well known brands in the car industry, and indeed the most prosperous British car in terms of volume sold (Birmingham Mini Owners Club, 2002). It was launched in 1959 by British Motor Corporation. It was originally designed for four people seat, in a small size, practical, easy to park and economical. Also, priced was inexpensively. This responded to a fuel shortage, and the need for more efficient city cars. The Mini Cooper was designed and commercialized as a faster and sporty version of the Mini that would allow the car to compete successfully in rallying. Moreover, in 1969 the Mini was placed on the film The Italian Job. Due to the combination of the Minis rallying success and celebrity style reputation so it became a necessary fashion accessory. It gained the cultural status that considered as a British icon. The Mini Coopers status was variable between the 1970s and the 1980s as the license for the brand was sold to Spanish and Italian companies. In 1994, BMW bought the Rover Group, the owner of the Mini and launched the line in 2000. BMW still used the Mini brand to unite old and new to form explicit and consistence profile, but a bit change in name from Mini to MINI. Launching the New MINI had task to preserve the MINI from becoming a fad. Therefore, business strategy of BMW is to position the MINI as a symbol. It target young groups of customers that are urbane, stylish, individualistic or characteristically take their own path, value and quality consider, love to drive, and a trendsetter. To meet the target market need, characteristic, and lifestyle, Mini brand came out the repositioning strategy that tried to attract customer in both logical level by the products performance and insurance of quality, and at a sensational level by the value of the brands image or product aesthetics. At the rational level, MINI keeps the perception of a small premium car. It emphasized in practical and brand heritage about being an economy small sport car that have a different and new technical base. There are three main competitive advantages that support the aspect; custom design, modern quality technology, and outstanding safety. Firstly, MINI has an extensiv e variety of equipment along with paintwork choices, applications on the external and rare materials for the internal that make MINI customizable and can be differentiate. As a result, it offers customers to choose their own style MINI to express and show their own brand personality. Secondly, the quality dimension, it involves; body structure setting new standards, the powerful engines, the most progressive suspension technology, which makes driver feel a go-kart experience. Thirdly, the safety system guarantee excellent safety airbag system, which makes the MINI one of the safest and the most reliable cars in its category. At an emotional level, the MINI stressed on the fun facet, play with the slogan fun to drive. Thus, MINI attempted to create brand personality of it as fun loving, outrageous, cheeky, trendy, sporting and attractive. The victory of the MINI brand repositioning can be analyzed in many aspects. Firstly it achieved in clearly defined its target market so it could offer the brand attributes or benefits that meet the target needs and, also, was able to compete with the relevant brands in the sporty compact cars market such as Honda and Volkswagen. Likewise, MINI did not forget to offer the Category points-of-parity; it provided essential and credible attributes that a car should have to customers. Additionally, MINI can prove strong superiority on its attribute and benefit and, too, consumers can be swayed. MINI brand associations met three criteria that can correctly be good at a point-of-difference; desirability, deliverability, and differentiability. First of all, the MINIs target customer was given a persuasive motive to believe by MINIs pose on exclusive design, up-to-date quality technology, excellent safety, plus fun emotion. Accordingly, they can feel the relevance in both performance and emot ion. These advantage associations are hard to compete. Also, MINI got benefit from the combination of two legacy advantages; British heritage and BMWs German heritage that effected to customer perception. The former British heritage included construction in England, iconic scheme, fun and sporty sensation. The later German heritage BMWs consisted of the certifying in excellence of production and technology along with the premium car segment. Moreover, the company can really deliver favor attributes and benefits, in the other words, MINI could sent the promise unique joy at an attainable price to its consumers. The product design and its marketing campaign supported the desired associations. Their unique, specific and complete forms of advertising resulted to minis repositioning accomplishment. The customer was underlined that possessing and driving a MINI is fun, at the same time, also promoting brand personality and the idea of smaller is better. In every touch points, from the bil lboards to the showrooms, everything is branded that pararell with the set position. Finally, associations of MINI brand are strong in differentiate about history related, product related, and emotional related that can claim distinctiveness and superiority against relevant competitors. Whilst MINI brand repositioning has been very successful, Oldsmobile brand, contrastingly, had left customers confused. The Oldsmobile brand is a case of the failure brand in repositioning. Oldsmobile is one of the brand legends in US car history. It was in the portfolio of General Motors (GM) same as Chevrolet, Pontiac, Buick and Cadillac. It was a pioneer brand that launched the first car with chromeplated Trim and front wheel drive. Also, it was be the first production line car in the US with a fully automatic transmission, which is Toronado model. The brand was popular for many decades until there were problems that shake the strength of brand and have to end the production in 2000. The reason behind the brand failure can be divided in terms of positioning in three parts. First of all, around 1980s onwards, when GMs technology had cutting edge begin with the Chevrolet engines were substituted ad diesel engines were given as an option, it ,afterward, stopped maintaining and emphasizing the unique selling proposition of Oldsmobile and make the brand to be uniform like others. Consequently, Oldsmobiles is devalued its positioning in advance automobile in sportiness and innovation .It lost its advantage edge and looked very similar to other GM cars, with only small differences. Additionally, due to its brand name, there is an effect of the name old to the perception of customer that mislead to be perceived as outdates brand specially among teenage segment. As a result, marketers of Oldsmobile tried to reposition the brand and adjust the brand image with Its Not Your Fathers Oldsmobile slogan and ran advertising to describing the point. Unfortunately, this customers couldnt recognize reasonable about age association and still perceive that Oldsmobile is old-fashioned (Levinson,2005). One Brand Week article, published in February 2001 gave a recommendation to the Oldsmobile that instead of attempt to be younger, it should better accept the exist brand, with its older profile, search for older customers insight and give them a communication that fascinated to their needs. It could be possible, as the Oldsmobile had been considered an innovator in its field, even though it had never been a youth brand. Also, the process of this repositioning was rather impulsiv e operation. The customer perception should proceeding adjust for example, from old brand to adult brand to, eventually, younger brand. Moreover, Oldsmobile had endeavoured to lift its position to be a luxury brand by changing logo and make many product variations to enter European market. However, the principal notion of Oldsmobile was to manufacture a low-priced car for the masses and discounting strategy to sales was still used that against the repositioning aim, thus, consumers were confounded. Again, their memories with the earlier brand image still ran deep. Ultimately, General Mortors shut down its Oldsmobile section. Refer to the case, there are many factors that make Oldsmobile incapable to success in repositioning. Begins with the target market, it attempted to target younger consumers and affluent market without finding those customers insight. While there were overwhelm of competitors that pierced in the same target. Thus, introducing trendy new Olds cars were too late. Oldsmobile did not carry on the brands new promise; it just created the tag line Its Not Your Fathers Oldsmobile but did not do anything on product or service programs to stress the claim. The product reforms did not meet wishes of new clients. By reason of deficient product development plus inconsistent brand communications, it did not have power enough to change the targets perception that Oldsmobile is a youthful, modern brand. Sharfman(2001) states that this slogan excluded both newer and elder purchasers. The reason that might be it had not done enough through its designs, contemporary images, and marketing mix, especiall y to the customers who do not have high involvement in the brand. They saw no advantage and no distinction, and no emotive association. In addition, it abandoned their competitive advantages which are a sporty and innovative, based on its heritage. Consequently, the trusted and believable personality of Oldsmobile was destroyed. In addition, to be in the upper market, Oldsmobile did not do well on credibility. Price levels did not represent the new willing position. Also, it was not able to form a unique emotional advantage or identity component of brand equity that is related to its customers. For these reasons Oldsmobile turned people off. In a nut shell, brand positioning is a strategic concept that marketers make a band image to sit in a unique room in the mind of the target market by a customer-focused base value correlated to competitors. Furthermore,There are factors require brand managers to reconsider about their brand position such as altering customer needs, increasing competitive pressures and changing of the company own structure. The BMW MINI case shows an example of how a brand cans success in repositioning. It created effective brand associations that consumers perceive a brand dwell in a favourable, differentiated and credible location in the minds of consumers. Thus, MINI gained trustworthiness of the product position by information given by brand. Although many brands are desired to become resurrected and famous again, often, repositioning brand fail in changing the image in the mind of customer as the mentioned case of Oldsmobile. It underwent from a lack of strong positioning since targeted goal that it did not have ability to send the promises or new benefits. Also, elements of marketing mix did not go along with new position such as the product improvement and the price. As a result, marketers should carefully redefine brands target market, stick on their needs and expectations, then, find the right and available place to be in their minds, which unique, certifiable, and satisfactory. Finally, the new position should be communicated properly and consistency.

Comparing Beowulf and Gilgamesh :: comparison compare contrast essays

A Comparison of Beowulf and Gilgamesh       There are many differences and critical comparisons that can be drawn between the epics of Beowulf and Gilgamesh.   Both are historical poems which shape their respected culture and both have major social, cultural, and political impacts on the development of western civilization literature and writing.   Before any analysis is made, it is vital that some kind of a foundation be established so that a further, in-depth   exploration of the complex nature of both narratives can be accomplished.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The epic of Gilgamesh is an important Middle Eastern literary work, written in cuneiform on 12 clay tablets about 2000 BC. This heroic poem is named for its hero, Gilgamesh, a tyrannical Babylonian king who ruled the city of Uruk, known in the Bible as Erech (now Warka, Iraq). According to the myth, the gods respond to the prayers of the oppressed citizenry of Uruk and send a wild, brutish man, Enkidu, to challenge Gilgamesh to a wrestling match. When the contest ends with neither as a clear victor, Gilgamesh and Enkidu become close friends. They journey together and share many adventures. Accounts of their heroism and bravery in slaying dangerous beasts spread to many lands.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   When the two travelers return to Uruk, Ishtar (guardian deity of the city) proclaims her love for the heroic Gilgamesh. When he rejects her, she sends the Bull of Heaven to destroy the city. Gilgamesh and Enkidu kill the bull, and, as punishment for his participation, the gods doom Enkidu to die. After Enkidu's death, Gilgamesh seeks out the wise man Utnapishtim to learn the secret of immortality. The sage recounts to Gilgamesh a story of a great flood (the details of which are so remarkably similar to later biblical accounts of the flood that scholars have taken great interest in this story). After much hesitation, Utnapishtim reveals to Gilgamesh that a plant bestowing eternal youth is in the sea. Gilgamesh dives into the water and finds the plant but later loses it to a serpent and, disconsolate, returns to Uruk to end his days.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This saga was widely studied and translated in ancient times. Biblical writers appear to have modeled their account of the friendship of David and

Global Warming and the Kyoto Treaty Essay -- Climate Change and the Ky

According to David Easterling, principal scientist at the National Climatic Data Center in Asheville, N.C. in twenty years the United States has had thirty seven weather related catastrophes each with damages exceeding one billion dollars (Levin 1). A country as wealthy as the United States can afford to pay thirty seven billion dollars in twenty years, assuming of course that the weather related disasters only cost one billion dollars each. Unfortunately, the weather does not work that way. Hurricane Katrina alone may have cost one hundred billion dollars (Tucker 13). What could be causing these devastating storms? Many atmospheric scientists like Kerry Emanuel believe that global warming is the cause of the increased ferocity of the hurricanes (Nash 38). With the polar temperatures increasing the icecaps are melting. Without the ice to reflect the sun's light, the water absorbs the heat. This creates a vicious cycle. The ocean levels rise with their temperatures. Hurricane Katrina was only a category one hurricane when it crossed Florida. However, when it reached the newly warmed Gulf waters, hurricane Katrina ballooned into a mind-blowing category five hurricane that destroyed the gulf region (McKibben, Year One 30). The melting of the polar icecaps has long been believed to be caused by global warming. Until recently, the cause of global warming itself has largely been up for debate. Now atmospheric scientists attribute global warming to increased greenhouse gases, such as carbon dioxide, in the earth's atmosphere (Greenstone 323). With the knowledge that carbon dioxide causes global warming countries can start taking actions to prevent future global warming. The United States alone produces twenty four percent of the world... ... 166 Issue 1 (2004): 10-12. Phelps, Megan. "More Action, Less Hot Air." The Mother Earth News Vol. 210 (2005): 30. Stenger, Richard. "Man on the Moon: Kennedy Speech Ignited the Dream." CNN.Com. 25 May 2001. Time Warner. 30 Nov. 2013 . Sunstein, Cass R. "It's Only $300 Billion If We Can Fund the War in Iraq, Why Can't We Fund the Kyoto Protocol?" The Washington Post 10 May 2006. 12 Nov. 2013 . Tucker, Patrick. "The Rising Costs of Global Warming." The Futurist Vol.39 Issue 6 (2005): 13. "Warming Trends What Global Climate Changes Could Mean for Wisconsin." Wisconsin Natural Resources 12 Nov. 2006. Wisconsin Department of Natural Resources. 12 Nov. 2013 .

Ice Cream Essay

According to market research conductedin 1996, 80% of Filipino consumers bought on impulse (they bought only upon passing an ice cream shop or scooping station, but without an intention to buy first); 98% ate ice cream was an afternoon snack. Furthermore, studies showed that per capita consumption of ice cream was less than a forth of a gallon per person per year. In 1992, it stood at 0. 23 gallons per person and declined to 0. 20 in 1993. On average, domestic ice cream market was 13. 8 million gallons from 1991-1993, worth estimated p 2. 5-3 billion per annum. Bulk ice cream comprised 86% of the industry sales while the rest was accounted for by frozen novelties. Main competitors in this include San Miguel Corporation’s (SMC) Magnolia and RFM’s Selecta. Magnolia Other trailing competitors are Universal Robina Corporation’s (URC) Presto, Arce Dairy Ice Cream, and Pure food’s Coney Island, as well as foreign brands like Baskin-Robbins ,Dreyer’s and Haagen-Dazs. Magnolia – The pioneer ice cream brand in terms of flavour, quality control, variety, technology and distribution produced by the merger of SMC and Nestle. It introduced the Flavor of the Month series that provided a huge variety of ice cream flavours to the consumer, with projected volumes of FoM ice cream sold reaching over 28 million gallons. It pioneered the introduction of tropical fruit flavours. It was the first to achieve International Standards Organization quality standards, and is the only Filipino ice cream brand that has expanded overseas. Magnolia is poised as the main competitor, as it aims to be at the forefront of the dairy industry. With increasing competition, MNC intends to make its products available in neighborhood stores and major outlets; introduce a feedback mechanism that will help the corporation monitor the market; and employ new approaches to selling. Currently, magnolia is the preferred choice of many five star hotels, fine dining restaurants, sports and country clubs and food chains.Presto – this brand claims value for money, as part of the corporate philosophy of the Gokongweis, owners of JG summit corp. hich URC is part of, which is to make available value-for-money items for all its consumer-branded products, and as such has positioned its prices lower than Magnolia & Selecta. Presto excels in the frozen novelties market, as was demonstrated in their introduction of Tivoli bars, the first ice cream bar in the Philippines, a phenomenal success that had competitors challenge it with their own versions of ice cream bars. Presto currently holding the number three position, is determined to fur ther widen its market share and catch up with the giants. Thus, the company is eyeing the possibility of plant capacity expansion and wider distribution network. It is also determined to enhance its advertising campaigns and be very active in the communication field. Arce Dairy – This ice cream brand was started in January 1995 and immediately got hold of a 5% market share. Its trademark was the use of carabao milk as base, comfortably within the 5-16% fat content requirement to be called ice cream because carabao milk contains considerably more fat than cow milk (9. 65% as opposed to 4. 16%). Only the expensive ice cream (super deluxe and super special) of Arce contain carabao milk, and are priced at higher than the rates of the competition, showing that Arce’s main strength is its appeal to the AB market where its products cost P3-5 more than its competitors’ products, and as its regular ice cream products are priced lower than its competitors by P3-5 which indicates its attempt to appeal to the CD market’s tendency to want every peso to count. Coney Island – 1976 saw the entry of Coney Island in the local ice cream market. It introduced a new standard of creaminess thanks to its products’ high milk fat content, setting a standard for flavour richness back then. Purefoods acquired it in 1991 and increased its production capacity without having neglected the improvement of its quality. In line with Pure Food’s rule of following the highest international standards, Coney Island tried to implement the zero-vegetable fat and at least 10 percent milk fat standard of US ice cream. It used high quality ingredients like Callebaut chocolate from Belgium for its top-of-the-line products such as the Premium Bar, Pure and Simple and Bugs Bunny Bar. It repositioned itself in the market in 1995 to improve local competitiveness. It marketed its products as â€Å"Not Just Ordinary Ice Cream†, supported by new flavours and packaging. Coney Island revised its product classification, and began categorizing its bulk ice cream as simply creamy, fruit and nuts, and cakes and pastries instead of the traditional premium and super premium. This move was inspired by a study that showed that consumers buy ice cream on the basis of flavour concepts. Foreign Brands – Foreign include Haagen-Dazs, Dreyer’s Grand Ice Cream and Baskin-Robbins. Dreyers was the first to penetrate the local market.

Business and Administration

Unit three: Principles of managing information and producing documents Assessment You should use this file to complete your Assessment. †¢ The first thing you need to do is save a copy of this document, either onto your computer or a disk †¢ Then work through your Assessment, remembering to save your work regularly †¢ When you’ve finished, print out a copy to keep for reference †¢ Then, go to www. vision2learn. com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly marked with your name, the course title and the Unit and Assessment number.Please note that this Assessment document has 5 pages and is made up of 4 Sections. †¢ Name: Patricia Hayton Section 1 – Understand the purpose of information technology in a business environment 1. In relation to your current business environment (or one that you are familiar with), identify at least two different types of information technology that may be used when completing work tasks. Word processing Databases Information exchange 2.What are the benefits to businesses (and others) of using information technology for doing work tasks? The benefits are:- share information quickly and efficiently Improve work Cost effective Communicate world wide Flexibility New possibilities More productive Section 2 – Understand how to manage electronic and paper-based information 1. Explain the purpose of agreeing objectives and deadlines when researching information. If possible, refer to specific examples from research tasks you have worked on to support your answer.It is important to agree objectives and deadlines when researching information so that everybody knows when a task has to be completed by and what it has got to say. It my hold information that helps make business decisions. It help focus on task and stops waste resources. The business may be un efficient if not agreed. If you do not agree deadlines and objectives in tasks yo u may waste time looking up unneeded information. 2. Identify the different ways of researching, organising and reporting information. a) For your own organisation (or one you know well), describe the procedures that need to be followed when archiving, retrieving and deleting information. Your answer should cover procedures for both electronic and paper-based information. 3b) When following the procedures outlined in Question 3a above, are there any legal requirements to consider? Yes you must consider :- data protection act 1998 Retention periods Industry specific legal requirements 4. Why is confidentiality critical when managing information?Confidentiality is critical when managing information as it is a legal requirement and may show the business as inefficient and slack if not managed and could lead to the business breaking the law. Section 3 – Understand the purpose of producing documents that are fit for purpose 1. Identify at least two reasons for producing documents that are fit for purpose. †¢ 2. Use the table below to describe some of the different types and styles of documents that are produced in a business environment, and then explain when these different options may be used. Documents |When they are used | | |Inform clients of purchases | |reports |Share budgets with investors and share holders | | | | | |To track funds going in and out | |Accounting documents | | | | | | |Fast way to transit documents in paper format | |fax | | | | | | |Very formal, permanent written document that can be sent to clients | |Business letter |but not as quick as some documents. | | | | Section 4 – Know the procedures to be followed when producing documentsIn most organisations, time is taken to agree the purpose, content, layout, quality standards and deadlines for the production of documents. What are the reasons for doing this level of planning? †¢ To know what the customer wants †¢ Avoid problems †¢ Provide th e right information †¢ Present in a logical steps 2. Businesses will spend time checking finished documents for accuracy and correctness. a) How is this done? Can use word processing which will check spelling and grammer but may not pick up all mistakes. †¢ Read through the documents to check for grammer and spelling mistakes b) Why is this done? To make sure the document is fit for purpose and is what the client wants with no spelling or grammer mistakes. 3.Explain the purpose of following confidentiality and data protection procedures when preparing documents. It is a good ethical business practice, 4. In business environments, there is often a requirement to use notes as the basis for text and documents. a) Compare the different types of documents that can be produced from notes and include a description of the format of each document. b) Explain the procedures to be followed when preparing text from notes. Purpose of document Format of document Clarity Details Facts On ce you have completed all 4 Sections of this Assessment, go to www. vision2learn. com and send your work to your tutor for marking. Business and Administration Unit three: Principles of managing information and producing documents Assessment You should use this file to complete your Assessment. †¢ The first thing you need to do is save a copy of this document, either onto your computer or a disk †¢ Then work through your Assessment, remembering to save your work regularly †¢ When you’ve finished, print out a copy to keep for reference †¢ Then, go to www. vision2learn. com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly marked with your name, the course title and the Unit and Assessment number.Please note that this Assessment document has 5 pages and is made up of 4 Sections. †¢ Name: Patricia Hayton Section 1 – Understand the purpose of information technology in a business environment 1. In relation to your current business environment (or one that you are familiar with), identify at least two different types of information technology that may be used when completing work tasks. Word processing Databases Information exchange 2.What are the benefits to businesses (and others) of using information technology for doing work tasks? The benefits are:- share information quickly and efficiently Improve work Cost effective Communicate world wide Flexibility New possibilities More productive Section 2 – Understand how to manage electronic and paper-based information 1. Explain the purpose of agreeing objectives and deadlines when researching information. If possible, refer to specific examples from research tasks you have worked on to support your answer.It is important to agree objectives and deadlines when researching information so that everybody knows when a task has to be completed by and what it has got to say. It my hold information that helps make business decisions. It help focus on task and stops waste resources. The business may be un efficient if not agreed. If you do not agree deadlines and objectives in tasks yo u may waste time looking up unneeded information. 2. Identify the different ways of researching, organising and reporting information. a) For your own organisation (or one you know well), describe the procedures that need to be followed when archiving, retrieving and deleting information. Your answer should cover procedures for both electronic and paper-based information. 3b) When following the procedures outlined in Question 3a above, are there any legal requirements to consider? Yes you must consider :- data protection act 1998 Retention periods Industry specific legal requirements 4. Why is confidentiality critical when managing information?Confidentiality is critical when managing information as it is a legal requirement and may show the business as inefficient and slack if not managed and could lead to the business breaking the law. Section 3 – Understand the purpose of producing documents that are fit for purpose 1. Identify at least two reasons for producing documents that are fit for purpose. †¢ 2. Use the table below to describe some of the different types and styles of documents that are produced in a business environment, and then explain when these different options may be used. Documents |When they are used | | |Inform clients of purchases | |reports |Share budgets with investors and share holders | | | | | |To track funds going in and out | |Accounting documents | | | | | | |Fast way to transit documents in paper format | |fax | | | | | | |Very formal, permanent written document that can be sent to clients | |Business letter |but not as quick as some documents. | | | | Section 4 – Know the procedures to be followed when producing documentsIn most organisations, time is taken to agree the purpose, content, layout, quality standards and deadlines for the production of documents. What are the reasons for doing this level of planning? †¢ To know what the customer wants †¢ Avoid problems †¢ Provide th e right information †¢ Present in a logical steps 2. Businesses will spend time checking finished documents for accuracy and correctness. a) How is this done? Can use word processing which will check spelling and grammer but may not pick up all mistakes. †¢ Read through the documents to check for grammer and spelling mistakes b) Why is this done? To make sure the document is fit for purpose and is what the client wants with no spelling or grammer mistakes. 3.Explain the purpose of following confidentiality and data protection procedures when preparing documents. It is a good ethical business practice, 4. In business environments, there is often a requirement to use notes as the basis for text and documents. a) Compare the different types of documents that can be produced from notes and include a description of the format of each document. b) Explain the procedures to be followed when preparing text from notes. Purpose of document Format of document Clarity Details Facts On ce you have completed all 4 Sections of this Assessment, go to www. vision2learn. com and send your work to your tutor for marking.

Provide displays in schools Essay

1.4 Describe the requirements and procedures for carrying out a risk assessment for displays. Health and safety regulations must be observed whilst putting up any displays for the safety of both staff and children in the setting. Display boards must be securely attached to the wall by using screws to ensure safety and stability and must not be obstructing exits, light switches or sockets, fire exit signs or exposed wires of any sort. If a ladder is needed to reach the top of the board, it must be flat on the floor with no wobble and another member of staff to hold it in position. It would be advantageous to display work during lunch time or before or after school if the display board is in a high traffic area i.e. a corridor where children walk frequently and in high numbers. This will minimise the risk of the person using the ladder being involved in an accident. Desks and chairs should never be used to climb on. A wall stapler is the best way to attach work to the wall. Pins and clips can and will fall or be knocked off on to the floor where they could be stood on or picked up by children. Similarly, any kind of tape would be unfit for use as they do not hold any objects of weight securely or practically. All work to be displayed should be put somewhere safe and out of the way of people walking past whilst it is being put up. It would be preferable to have another member of staff to assist in handing things to you and to check that things are safe and finally, that they look presentable and neat. Ladders, staple guns, scissors, rolls of paper, blu tac, pens and any other equipment used must be put away promptly and securely. Ladders must be stowed away somewhere safe where they cannot be tripped over or children climb on them. All other equipment should be returned to class or the correct place that it is usually stored.

Facilitation of Conditioned Fear Extinction

Neuroscience 134 (2005) 247–260 FACILITATION OF CONDITIONED FEAR EXTINCTION BY D-CYCLOSERINE IS MEDIATED BY MITOGEN-ACTIVATED PROTEIN KINASE AND PHOSPHATIDYLINOSITOL 3-KINASE CASCADES AND REQUIRES DE NOVO PROTEIN SYNTHESIS IN BASOLATERAL NUCLEUS OF AMYGDALA Y. L. YANGa AND K. T. LUb* Institute of Biotechnology, Department of Molecular Biology and Biochemistry, National Chia-Yi University, 300 University Road, Chia-Yi, Taiwan b Department of Life Science, National Taiwan Normal University, 88 Ming-Chow Road, Sec 4, Taipei, Taiwan aKey words: extinction, D-cycloserine, MAPK, PI-3 kinase, amygdala. Abstract—Recent results showed that either systemic or intra-amygdala administration of D-cycloserine, a partial agonist at the glycine modulatory site on the glutamate N-methylD-aspartate receptor facilitates the extinction of conditioned fear. Here we evaluated the role of mitogen-activated protein kinase and phosphatidylinositol 3-kinase in the basolateral nucleus of amygdala on the effect of D-cycloserine.The facilitation effect of D-cycloserine on fear extinction and mitogen-activated protein kinase activation was completely blocked by intra-amygdala administration of mitogen-activated protein kinase inhibitor PD98059 (500 ng/side, bilaterally) or U0-126 (20 M/side, bilaterally). Furthermore, phosphatidylinositol 3-kinase inhibitor (wortmannin, 5. 0 g/side, bilaterally) infused into the basolateral nucleus of amygdala signi? cantly reduced both facilitation effect of D-cycloserine and phosphatidylinositol 3-kinase activation.Intra-amygdala administration of a transcription inhibitor (actinomycin D, 10 g dissolved in 1. 6 l vehicle; 0. 8 l per side) and a translation inhibitor (anisomycin, 125 g dissolved in 1. 6 l vehicle; 0. 8 l per side) completely blocked the facilitation effect of D-cycloserine. Control experiments indicated the blockage by actinomycin D or anisomycin were not due to lasting damage to the basolateral nucleus of amygdala or state d ependency. In addition, none of the active drugs used here altered the expression of conditioned fear.These results suggested that phosphatidylinositol 3-kinase and mitogenactivated protein kinase-dependent signaling cascades and new protein synthesis within the basolateral nucleus of amygdala played important roles in the D-cycloserine facilitation of the extinction of conditioned fear.  © 2005 Published by Elsevier Ltd on behalf of IBRO. *Corresponding author. Tel: 886-2-29333149Ãâ€"234; fax: 886-229312904. E-mail address: [email  protected] ntnu. edu. tw (K. -T. Lu).Abbreviations: ACT DCS, actinomycin D D-cycloserine; ACT SAL, actinomycin D saline; ANI DCS, anisomycin D-cycloserine; ANI SAL, anisomycin saline; BLA, basolateral nucleus of the amygdala; CS, conditioned stimulus; DCS, D-cycloserine; EDTA, ethylenediaminetetraacetic acid; ISI, interstimulus interval; MAPK, mitogen-activated protein kinase; NMDA, N-methyl-D-aspartate; PD DCS, PD98059 D-cycloserine; PD SAL, PD9805 9 saline; PI-3K, phosphatidylinositol 3-kinase; US, unconditioned stimulus; U0 DCS, U0-126 D-cycloserine; U0 SAL, U0126 saline; VEH DCS, vehicle D-cycloserine; VEH SAL, vehicle saline; WH DCS, wortmannin D-cycloserine; WH SAL, wortmannin saline. 0306-4522/05$30. 00 0. 00  © 2005 Published by Elsevier Ltd on behalf of IBRO. doi:10. 1016/j. neuroscience. 2005. 04. 003 Fear conditioning occurs when a previously neutral stimulus (conditioned stimulus) is paired with an aversive stimulus (McAllister and McAllister, 1971).Following such pairing the conditioned stimulus is thought to elicit a state of conditioned fear. This is de? ned in animals by their behavior: freezing, autonomic reactivity, and fear-potentiated startle. A large literature indicates that the basolateral nucleus of the amygdala (BLA) is critically involved in both the acquisition and the expression of conditioned fear (Davis, 2000). Neurotoxic lesions or intra-amygdala infusion of glutamate antagonists into the BLA bl ocks the expression of conditioned fear. In addition, local infusion of N-methyl-D-aspartate (NMDA) speci? c antagonists blocks the acquisition of conditioned fear (Miserendino et al. , 1990; Kim et al. , 1991; Maren et al. , 1996; Gewirtz and Davis, 1997).Synaptic plasticity in this area is thought to underlie the learning process when afferent sensory information elicited by the conditioned stimulus is paired with afferent pain information elicited by the unconditioned stimulus (Fanselow and LeDoux, 1999). Extinction is de? ned as a reduction in conditioned fear when the conditioned stimulus (CS) is presented repeatedly in the absence of the unconditioned stimulus (US). Many studies show that extinction is not the result of forgetting or memory erasure but results from formation of new associations that compete with prior fear-conditioned associations (Falls and Davis, 1995; Davis et al. , 2000). Similar to acquisition, extinction is also blocked by glutamate NMDA receptor antagon ists either given systemically (Cox and Westbrook, 1994; Baker and Azorlosa, 1996; Kehoe et al. 1996) or locally infused into the BLA (Falls and Davis, 1992). The glycine modulatory site of the NMDA receptor provides a critical regulatory role. Whereas direct NMDA agonists may be neurotoxic due to unregulated calcium entry, partial agonists can facilitate glutamatergic NMDA activity in a more limited fashion (Lawler and Davis, 1992; Olney, 1994). Recent results showed that partial agonists acting at the glycine modulatory site of the NMDA receptor, such as D-cycloserine (DCS), enhance learning and memory in several animal models (Thompson and Disterhoft, 1997; Pussinen et al. , 1997; Matsuoka and Aigner, 1996; Land and Riccio, 1999; Walker et al. , 2002; 247 248 Y. L. Yang and K. T.Lu / Neuroscience 134 (2005) 247–260 extinction test, an extinction training and a post-extinction test (see Fig. 1A). Acclimation. On each of 3 consecutive days, rats were placed in the test chamb ers for 10 min and then returned to their home cages. Baseline startle test. On each of the next 2 consecutive days, animals were placed in the test chambers and presented with 30 95-dB startle stimuli at a 30-s interstimulus interval (ISI). Animals whose baseline startle response was 1% of the measurable level were not included in later analysis. Fear conditioning. Twenty-four hours later, rats were returned to the test chambers and after 5 min were given the ? rst of 10 light-footshock pairings.The shock (US) was delivered during the last 0. 5 s of the 3. 7 s light (CS). The average intertrial interval was 4 min (range 3–5 min) and the shock intensity was 0. 6 mA. Pre-extinction test. Twenty-four hours after fear conditioning, rats were returned to the test chambers and 5 min later presented with 30 startle-eliciting noise bursts (95 dB, 30 s ISI). These initial startle stimuli were used to habituate the startle response to a stable baseline prior to the light-noise test tr ials that followed. Thirty seconds later a total of 20 startle-eliciting noise bursts were presented, 10 in darkness (noise alone) and 10 3. 2 s after onset of the 3. s light (light-noise) in a balanced, irregular order at a 30-s ISI. Percent fear-potentiated startle was computed as [(startle amplitude on light-noise noise-alone trials)/noisealone trials] 100. Rats were then divided into equal size groups of comparable mean levels of percent fear-potentiated startle. Rats with less than 50% fear-potentiated startle during the pre-extinction test were not used. Extinction training. Extinction training (cue exposure) is de? ned as the repetitive exposure to the CS cue (light) in the absence of the US (shock). Twenty-four hours after the preextinction test, rats were returned to the test chamber. After 5 min, they were presented with 30, 3. s light exposures at a 30-s ISI. Context control groups (context exposure) remained in the test cages for the same amount of time but did not recei ve light presentations. Extinction training was performed for varying numbers of consecutive days (2 days for experiment 1 and 1 day for subsequent experiments). Post-extinction test-1. Twenty-four hours after the last extinction training, rats were returned to the test chamber. After 5 min, they were presented with 30 95-dB leader stimuli for a habituated startle baseline. This was followed by a total of 60 startle-eliciting noise bursts, 30 in darkness (noise alone) and 30 presented 3. 2 s after onset of the 3. s light (light-noise) in a balanced, irregular order at a 30-s ISI. Results were evaluated the same way as pre-extinction test. Post-extinction test-2. Twenty-four hours after the extend extinction training period, rats were returned to the test chamber and process the post-extinction test described above. Fear-potentiated startle test. Twenty-four hours after fear conditioning, rats were returned to the test chamber and testing for fear-potentiated startle using the post-e xtinction test-1 described above. Ledgerwood et al. , 2003; Richardson et al. , 2004). In addition, ( )-HA966, a competitive antagonist at the glycine regulatory site on the NMDA receptor, reversed the DCS effect (Walker et al. , 2002).Clinical studies have shown that DCS can sometimes enhance implicit memory and improve cognition in patients with Alzheimer’s disease (Schwartz et al. , 1996; Tsai et al. , 1998, 1999). It can also counter cognitive de? cits in schizophrenia (Javitt et al. , 1994; Goff et al. , 1999). Furthermore, systemic administration of DCS also proved to facilitate extinction of conditioned fear (Walker et al. , 2002; Ledgerwood et al. , 2003, 2004; Ressler et al. , 2004). Numerous signaling cascades including mitogen-activated protein kinase (MAPK), phosphatidylinositol 3-kinase (PI-3K) and calcineurin, are involved in the extinction of conditioned fear (Lu et al. , 2001; Lin et al. , 2003).Similar mechanisms may also be involved in the facilitation effec t of DCS. This study was designed to clarify the relationship between amygdaloid NMDA receptors, MAPK and PI-3K signal cascades on the extinction of conditioned fear. EXPERIMENTAL PROCEDURES Animals Adult male Sprague–Dawley (SD) rats (obtained from the animal center of National Taiwan University Taipei, Taiwan) weighing between 250 and 350 g were used. Animals were housed in groups of four rats in a temperature (24  °C) -controlled animal colony with continuous access to food and water. Rats were kept on a 12-h light/dark cycle with lights on at 07:00 h. All behavioral procedures took place during the light cycle.All procedures were conducted in accordance with the National Institutes of Health Guide for Care and Use of Laboratory Animals and the guidelines set forth by the Institutional Animal Care and Use Committee at the National Taiwan Normal University. In all experimental procedures involving animals, all efforts were made to minimize pain and the number of animals u sed. Surgery All surgeries were carried out under sodium pentobarbital (50 mg/ kg, i. p. ) anesthesia. Once anesthetized, the rat was placed in a Kopf stereotaxic instrument, the skull was exposed, and 22 gauge guide cannula (model C313G, Plastic-one Products, Roanoke, VA, USA) were implanted bilaterally into the BLA (AP, 2. ; DV, 9. 0, ML, 5. 0 from bregma (Paxinos and Watson, 1997)). Size 0 insect pins (Carolina Biological Supply, Burlington, NC, USA) were inserted into each cannula to prevent clogging. These extended about 2 mm past the end of the guide cannula. Screws were anchored to the skull and the assembly was cemented in place using dental cement (Plastic-one Products). Rats received an antibiotic (penicillin) once every day for the ? rst 3 days after the surgery to reduce the risk of infection. General behavioral procedures Fear conditioning was measured using the potentiated startle paradigm (Cassella and Davis, 1986; Lu et al. , 2001; Walker et al. , 2002).The rats were trained and tested in a startle chamber (San Diego Instruments, San Diego, CA, USA) in which cage movement resulted in the displacement of an accelerometer. Startle amplitude was de? ned as peak accelerometer voltage within 200 ms after startle stimulus onset. The behavioral procedures common to all experiments consisted of an acclimation phase, a baseline startle test phase, a fear conditioning phase, a pre- Drug injection DCS (Sigma) was freshly dissolved in saline. DCS (15 mg/kg, i. p. ) or saline was injected intraperitoneally 15 min prior to extinction training with a 26 gauge injection needle connected to a 1 ml syringe (Walker et al. , 2002; Ledgerwood et al. , 2003) (experiments 1– 8).MAPK inhibitor PD98059 (500 ng in 1 l of 20% DMSO; Calbiochem) (Lu et al. , 2001) or U0-126 (50 ng/side; Sigma) (Lin et al. , 2003) or 20% DMSO was infused into the BLA Y. L. Yang and K. T. Lu / Neuroscience 134 (2005) 247–260 249 Fig. 1. Systemic administration of DCS accelerate d extinction of conditioned fear. (A) Timeline of behavioral procedures for experiment 1. (B) Percent fear-potentiated startle measured 24 h before (pre-extinction test) and 24 h after extinction training (post-extinction test). Rats in each group were treated with either DCS or saline prior to a single session of extinction training. (C) To test for toxicity, after 24 h all animals of experiment 1 were retrained.They were tested for fear-potentiated startle response in the absence of drugs 24 h later (fear-potentiated startle test) (values are mean SEM, * P 0. 05 versus control group; # P 0. 05 versus the group with 1 day extinction and saline injection). 250 Y. L. Yang and K. T. Lu / Neuroscience 134 (2005) 247–260 10 min prior to saline or DCS injection (experiments 2 and 8). PI-3K inhibitor (wortmannin, 5 g/side) (Lin et al. , 2003) or vehicle was administrated to the BLA 10 min prior to saline or DCS injection (experiment 3). Transcription inhibitor actinomycin D (10 g d issolved in 1. 6 l vehicle; 0. 8 l per side) or translation inhibitor (anisomycin, 125 g dissolved in 1. 6 l vehicle; 0. 8 l per side) or vehicle (Lin et al. 2003) was administrated to the BLA 10 min prior to DCS or saline injection (experiment 4) or 25 min prior to fear-potentiated startle test (experiment 6). In the control experiment, PD98059, U0-126, wortmannin, actinomycin D, and anisomycin were injected 25 min prior to the fear-potentiated startle test. Injections were made through 28-gauge injection cannula (model C313I, Plastic-one Products) connected to a Hamilton micro-syringe via polyethylene tubing. Infusion speed was 0. 25 l/ min. The total volume of injection was 0. 8 l per side. Western blot analysis Animals were killed by decapitation 10 min after extinction training. The lateral and basolateral subregions of the amygdala were collected and sonicated brie? y in ice-cold buffer: 50 mM Tris–HCl (pH 7. ), 50 mM NaCl, 10 mM EGTA, 5 mM EDTA, 2 mM sodium pyrophospha te, 4 mM para-nitrophenylphosphate, 1 mM sodium orthovanadate, 1 mM phenylmethylsulfonyl ? uoride (PMSF), 20 ng/ml leupeptin, and 4 ng/ml aprotinin. Following sonication, the soluble extract was obtained after pelleting the crude membrane fraction in a centrifuge at 50,000 g at 4  °C. Protein concentration in the soluble fraction was then measured using a Bradford assay with bovine serum albumin as the standard. Equivalent amounts of protein for each sample were resolved in 10% sodium dodecyl sulfate (SDS)–polyacrylamide gels, blotted electrophoretically to PVDF membranes and blocked overnight in 5% skim milk (Cell Signaling Technology, Inc. , USA).Blots were incubated with antiphospho-ERK antibody (New England Biolabs, USA), anti-ERK antibody (BD Transduction Laboratories, USA), anti-phospho-Akt antibody (New England Biolabs) or anti-pan-Akt (BD Transduction Laboratories). Band detection was performed with an enhanced chemiluminescence Western blotting analysis system (RPN 2108; Amersham International, Amersham, UK). fear-potentiated startle during the pre-extinction test. The ? nal 30 rats were assigned into ? ve groups of six animals based on their level of fear-potentiated startle in the preextinction test. Twenty-four hours after the pre-extinction test, each rat received 1 or 2 consecutive days of extinction training with DCS (15 mg/kg, i. p. ) or saline. Saline or DCS was injected 15 min prior to the extinction training.An additional control group was tested 2 days after the pre-extinction training without intervening exposures to visual CS. Fig. 1B shows that DCS accelerated extinction of conditioned fear. A two way ANOVA for differences in treatment (DCS vs saline) and days (one or two extinction sessions) between-subjects indicated a signi? cant treatment effect (F(1,20) 9. 02) and a signi? cant treatment days interaction (F(2,20) 6. 68). Thus, the reduction of fear-potentiated startle after 1 day of extinction training was greater in the gr oup that received DCS than in the group that received saline (Fig. 1B). Individual comparisons between DCS- and saline-treated groups indicated signi? ant differences after 1 day of extinction sessions (t(10) 3. 86). Previous studies have shown that lesions of the BLA block expression of fear-potentiated startle (Campeau and Davis, 1995). DCS may have toxic effect on BLA, and resulting misinterpretation of its facilitation effects on extinction. To test for toxicity, all animals of experiment 1 were retrained and tested 24 h later. Under these conditions, animals previously injected with DCS or saline showed a signi? cant fear-potentiated startle (Fig. 1C). Thus, the facilitation effect of DCS observed during the post-extinction test 1 appeared to result from the acute drug effect rather than from a more permanent, perhaps toxic, action of DCS.Experiment 2: intra-amygdala infusion of MAPK inhibitors blocked the facilitation of extinction by DCS To test the possible role of MAPK-depe ndent signaling cascade in the DCS-enhanced effect on the extinction of condition fear, 48 rats received fear conditioning, extinction training, and testing for fear-potentiated startle. Initially, 58 rats were used, but 10 of them were excluded. Rats were randomly assigned to six different groups and received one of the following treatments: vehicle saline (VEH SAL), vehicle DCS (VEH DCS), PD98059 DCS (PD DCS), U0-126 DCS (U0 DCS), PD98059 saline (PD SAL) or U0-126 saline (U0 SAL). The MAPK inhibitors, PD98059, and U0-126 (or vehicle) were administrated to the BLA 10 min prior to the injection with DCS or saline. Animals were then returned to their cage.Fifteen minutes after injection, animals were subjected to a single session of extinction training. Previously, we show that a single day of extinction training with cue exposure led to about 35% decrease in fear-potentiated startle, whereas 2–3 days of extinction training led to near complete extinction (Lu et al. , 2001; Wa lker et al. , 2002). We concluded that the acceleration of extinction is best detected after a single session of extinction training. As shown in Fig. 2, DMSO, PD98059 (500 ng/side, bilaterally), or U0-126 (20 nM/per side, bilaterally) was given 10 min prior to saline or DCS injection; rats were returned to their cages for 30 min before a single HistologyRats were overdosed with chloral hydrate and perfused intracardially with 0. 9% saline followed by 10% formalin. The brains were removed and immersed in a 30% sucrose-formalin solution for at least 3 day. Coronal sections (30 M) were cut through the area of interest, stained with Cresyl Violet, and examined under light microscope for cannula placement. Animals with misplaced cannula were not included in later analysis. Statistical analysis The mean startle amplitude across the 30 noise alone and 30 light-noise trials during the pre- and post-extinction tests was calculated for each animal. All results were analyzed using a score of percent fear-potentiated startle, as de? ned in the post-extinction tests above.ANOVA on scores was the primary statistical measure. Between-group comparisons were made using two-tailed t-tests for independent samples. The criterion for signi? cance for all comparisons was P 0. 05. RESULTS Experiment 1: systemic administration of DCS accelerated extinction of conditioned fear This experiment assessed the facilitation effect of DCS on different amounts of extinction training. Initially, 35 rats were used. Five were excluded for showing less than 50% Y. L. Yang and K. T. Lu / Neuroscience 134 (2005) 247–260 251 Fig. 2. Intra-amygdala infusion of MAPK inhibitors blocked facilitation effect of DCS on extinction. (A) Timeline of behavioral procedures for experiment 2. B) Cannula was placed in the BLA. Percent fear-potentiated startle measured 24 h before (pre-extinction test) and 24 h after extinction training (post-extinction test). Rats in each group underwent VEH SAL, VEH DCS, PD DCS, U0 DCS, PD SAL, or U0 SAL prior to a single session of extinction training. Twenty-four hours later, animals were tested for fear-potentiated startle in the absence of drugs (values are mean SEM, * P 0. 05 versus VEH SAL group; # P 0. 05 versus VEH DCS group). (C) Cannula tip placements transcribed onto atlas plates adapted from Paxinos and Watson (1997). 252 Y. L. Yang and K. T. Lu / Neuroscience 134 (2005) 247–260 session of extinction training.Twenty-four hours later, animals were tested for fear-potentiated startle in the absence of drugs. Results showed that there was a signi? cant overall difference between treatments (F(5,42) 11. 81). Fig. 2 shows that administration of DCS facilitated extinction of conditioned fear (VEH DCS) compared with the control group (VEH SAL) (t(14) 3. 12, P 0. 05). This effect was blocked by co-administration of MAPK inhibitor PD98059 (PD DCS) or U0-126 (U0 DCS) (t(14) 3. 08, P 0. 05 and t(14) 3. 29, P 0. 05, respectively) compared wit h the control (VEH DCS), treated with PD98059 only (PD SAL) or U0-126 only (U0 SAL) did not affect extinction (t(14) 0. 7 and t(14) 0. 36, respectively). These results indicated that the MAPK dependent signaling cascade most likely mediated the facilitation effect of DCS. Experiment 3: intra-amygdala infusion of the PI-3K inhibitor blocked facilitation of extinction by DCS Previous ? ndings have shown that PI-3K inhibitors retard acquisition in a variety of learning paradigms (Lin et al. , 2003). To evaluate the possible role of PI-3K signaling cascade in the DCS enhancement of extinction of conditioned fear, 32 rats received fear conditioning, extinction training, and testing for fear-potentiated startle. Although 38 rats were used initially, six were excluded.They were then randomly assigned to four different groups and received one of the following treatments: VEH SAL, VEH DCS, wortmannin DCS (WH DCS) and wortmannin saline (WH SAL). The PI-3K inhibitor (wortmannin, 5 g/side, bila terally) was infused to the BLA 10 min prior to the injection of saline or DCS. Then rats were returned to their cages for 15 min before being subjected to a single session of extinction training. Twenty-four hours later, animals were tested for fear-potentiated startle in the absence of drugs. Results showed that there was a signi? cant overall difference between treatments (F(4,28) 12. 17). As shown in Fig. 3, the facilitation effect of DCS (VEH DCS) on extinction was blocked by co-administration of PI-3K inhibitor (WH DCS) (t(14) 2. 98, P 0. 05).With the single extinction training session used in this experiment, this dose of wortmannin alone (WH SAL) at this dose had no effect on the extinction of fear-potentiated startle compared with control group (VEH SAL) (t(14) 0. 19). These results suggest that the PI-3K signaling cascade was involved in the DCS facilitation of extinction. Experiment 4: DCS enhanced the extinction training induced MAPK and PI-3K phosphorylation According t o the results of the above experiments, the DCS facilitation effect on extinction was prevented by coadministration of MAPK or PI-3K inhibitor. Previous studies have shown that infusion of these same inhibitors blocks extinction (Lu et al. , 2001; Lin et al. , 2003). Therefore, these treatments in conjunction with DCS must result in no extinction and resulting misinterpretation of its blockage effects on DCS.To show the MAPK and PI-3K signaling pathways are essential for the facilitation effect of DCS, we used Western blot to evaluate the DCS effect on the extinction training induced MAPK and PI-3K phosphorylation. Additional amygdala-cannulated rats received fear conditioning, extinction training, and testing for fear-potentiated startle. Then PD98059 or wortmannin was infused to the BLA 10 min prior to the injection of saline or DCS. Rats were returned to their cages. Fifteen minutes after DCS or saline injection, animals were subjected to a single session of extinction training. Animals were killed by decapitation 10 min after extinction training.The lateral and basolateral sub-regions of the amygdala were tested with Western blot analysis. Compared with control group, MAPK phosphorylation was signi? cantly elevated in BLA after extinction training (Fig. 4A, lane 2). Administration of DCS enhanced the effect of extinction training on MAPK phosphorylation (Fig. 4A, lane 3). The MAPK inhibitor PD98059 blocked the effect of DCS (Fig. 4A, lane 4). In addition, we measured the state of Akt phosphorylation as an index of PI-3K activity (Lin et al. , 2001). Fig. 4B showed that administration of DCS enhanced the effect of extinction training on Akt phosphorylation (Fig. 4B, lane 3). The PI-3K inhibitor, wortmannin, blocked the enhancement effect of DCS (Fig. 4b, lane 4).These results raise the possibility that DCS enhancement effect of extinction of conditioned fear is mediated by the amygdaloid MAPK and PI-3K dependent signaling cascades. Experiment 5: intra-amygd ala infusion of the transcription inhibitor or translation inhibitor blocked DCS facilitation of extinction The MAPK pathway participates in the synthesis of proteins important for the long-term stabilization and storage of fear memories. According to the result of experiment 2, the facilitation effect of DCS on extinction is mediated by the MAPK dependent signaling cascade. We predicted that the facilitation effect of DCS required new protein synthesis in the BLA.To test this hypothesis, 48 rats received fear conditioning, extinction training, and testing for fear-potentiated startle. Initially, 56 rats were used but eight of them were excluded. Rats were then randomly assigned to six different groups and received one of the following treatments: VEH SAL, VEH DCS, actinomycin D DCS (ACT DCS), anisomycin DCS (ANI DCS), actinomycin D saline (ACT SAL), and anisomycin saline (ANI SAL). Transcription inhibitor (actinomycin D, 10 g dissolved in 1. 6 l vehicle; 0. 8 l per side) and transl ation inhibitor (anisomycin, 125 g dissolved in 1. 6 l vehicle; 0. 8 l per side) were administered to the BLA 10 min prior to saline or DCS injection. Then rats were returned to their cages. Fifteen minutes later, nimals were subjected to a single session of extinction training. Twenty-four hours later, animals were tested for fear-potentiated startle in the absence of drugs. Results showed that there was a significant overall difference between treatments (F(5,42) 10. 17). As shown in Fig. 5, actinomycin D and anisomycin completely blocked the facilitation effect of DCS (t(14) 3. 11 and t(14) 2. 96, respectively) compared with the VEH DCS group. With a single extinction training session used in this experiment, actinomycin alone (ACT SAL) or anisomycin alone (ANI SAL) did not affect the extinction of fear-potentiated startle compared with control Y. L. Yang and K. T.Lu / Neuroscience 134 (2005) 247–260 253 Fig. 3. Intra-amygdala infusion of the PI-3K inhibitor blocked the fa cilitation effect of DCS on extinction. (A) Timeline of behavioral procedures for experiment 3. (B) Cannula was placed in the BLA. Percent fear-potentiated startle measured 24 h before (pre-extinction test) and 24 h after (post-extinction test) extinction training. Rats in each group were treated with VEH SAL, VEH DCS, WH DCS, or WH SAL prior to a single session of extinction training. Twenty-four hours later, animals were tested for fear-potentiated startle in the absence of drugs (values are mean SEM, * P 0. 05 versus VEH SAL group). C) Cannula tip placements transcribed onto atlas plates adapted from Paxinos and Watson (1997). 254 Y. L. Yang and K. T. Lu / Neuroscience 134 (2005) 247–260 (VEH SAL) (t(14) 0. 88 and t(14) 0. 48, respectively). These results suggest that new protein synthesis within the BLA played an important role in DCS facilitation of extinction of conditioned fear. Experiment 6: the disruptive effect of intra-amygdala infusion of actinomycin D and anisomy cin was not attributed to lasting damage to the amygdala The active drugs used in the above experiments may have toxic effect within the amygdala. Previous work shows that infusion of PD98095 (Lu et al. , 2001) or wortmannin (Lin et al. 2003) into BLA did not appear to cause permanent impairment of amygdala function. To test for possible toxic effects of actinomycin D and anisomycin on the BLA, all animals of experiment 5 received an additional 2 days of drug free extinction training followed 24 h later by testing. Under these conditions, rats previously treated with actinomycin D (ACT DCS-treated group and ACT SALtreated group) or anisomycin (ANI DCS- and ANI SALtreated group) showed a signi? cant reduction of fearpotentiated startle between post-extinction test 1 and post-extinction test 2 (t(7) 3. 08 and t(7) 3. 32 for the ACT DCS-treated group and ACT SAL-treated group respectively) and (t(7) 2. 96 and t(7) 3. 1 for the ANI DCStreated group and ANI SAL-treated group respectively ) (Fig. 6B). Thus, the blockage of extinction observed during post-extinction test 1 appeared to result from an acute drug effect rather than from a more permanent and perhaps toxic action, of actinomycin D or anisomycin. Previous studies have shown that lesions of the BLA block fear-potentiated startle (Campeau and Davis, 1995), an outcome opposite from that obtained with infusion of actinomycin D or anisomycin. It is also important to note that actinomycin D or anisomycin may have long-term toxicity within the BLA. The extinction of fear would look the same as a gradual loss of ability to express or relearn fear.Experiment 7: the disruptive effect of intra-amygdala infusion of actinomycin D and anisomycin was not attributed to state dependency To evaluate the contribution of state-dependency effects to the results obtained in experiment 6, additional amygdala-cannulated rats were tested for extinction in a drug-free state and after receiving the same compound that they had receive d during extinction training. Results showed that there was a signi? cant overall difference between treatments in post-extinction test 2 (F(2,21) 32. 16). These results are shown in Fig. 7. Rats infused with actinomycin or anisomycin before postextinction test 2 showed a slight, but non-signi? cant, decrease in fear-potentiated startle from post-extinction test 1 to post-extinction test 2. For control rats (n 8), fear-potentiated startle was signi? cantly lower during post-extinction test 2 than post-extinction test 1 (t(7) 2. 455; P 0. 05). The lost of fear-potentiated startle in both groups probably re? cted incidental extinction produced by the 30 non-reinforced CS presentations of post-extinction test 1. The failure of rats infused before Fig. 4. MAPK and PI-3K inhibitors blocked extinction training activation of MAPK and PI-3K. (A) Representative Western blots and densitometric analysis of the activation of MAPK in the BLA under different treatments (values are mean SEM, * P 0 . 05 versus VEH SAL group). (B) Representative Western blots and densitometric analysis Akt phosphorylation as an index of PI-3K activity in the BLA under different treatments (values are mean SEM, * P 0. 05 versus VEH DCS group). Y. L. Yang and K. T. Lu / Neuroscience 134 (2005) 247–260 255 Fig. 5.Intra-amygdala infusion of the transcription inhibitor or translation inhibitor blocks the facilitation effect of DCS on extinction of conditioned fear. (A) Timeline of behavioral procedures for experiment 5. (B) Cannula was placed in the BLA. Percent fear-potentiated startle measured 24 h before (pre-extinction test) and 24 h after (post-extinction test 1) extinction training. Rats underwent treatment with VEH SAL, VEH DCS, ACT DCS, ANI DCS, ACT SAL, or ANI SAL prior to a single session of extinction training. Twenty-four hours later, animals were tested for fear-potentiated startle in the absence of drugs (values are mean SEM, * P 0. 05 comparing with the VEH SAL group; # P 0. 05 compared with the VEH DCS group). C) Cannula tip placements transcribed onto atlas plates adapted from Paxinos and Watson (1997). 256 Y. L. Yang and K. T. Lu / Neuroscience 134 (2005) 247–260 Fig. 6. The disruptive effects of intra-amygdala infusion of actinomycin D and anisomycin on extinction were not attributed to lasting damage to the BLA. (A) Timeline of behavioral procedures for experiment 6. The same animals used in experiment 3 were subjected for two more trials of extinction training. (B) Twenty-four hours after the last extinction training, animals were tested for fear-potentiated startle in the absence of drugs (post-extinction test-2) (values are mean SEM, * P 0. 05 versus the corresponding post-extinction test-2). esting with the transcription and translation inhibitors before testing to show a loss of fear-incidental extinction suggested that state dependency was not a major factor in the effects of actinomycin D and anisomycin. Experiment 8: effect of pretest PD98059, U0-126, wortmannin, actinomycin, and anisomycin administration on fear-potentiated startle This experiment was designed to evaluate whether the effect of the active drugs used has had a secondary effect on fear itself or on CS processing. For example, if MAPK inhibitor U0-126 reduced CS-elicited fear, this might attenuate extinction by decreasing the discrepancy between CS predictions and what actually occurred. If actinomycin D or anisomycin interfered with visual processing, this might block extinction produced by non-reinforced exposures to the visual CS.To evaluate these possibilities, 42 amygdala-cannulated rats received acclimation, baseline startle test, and fear conditioning. Initially, 50 rats were used, but eight of them were excluded. After 24 h, rats were infused with PD98059, U0-126, wortmannin, actinomycin, and anisomycin. At 25 min after the infusions, rats were tested for fear-potentiated startle. As shown in Fig. 8, none of the active drugs we used here sig ni? cantly in? uenced fearpotentiated startle (F(6,35) 0. 993). Thus, it is unlikely that these drugs in? uenced extinction by increasing fear or by disrupting CS processing. Y. L. Yang and K. T. Lu / Neuroscience 134 (2005) 247–260 57 Fig. 7. The disruptive effect of intra-amygdala infusion of actinomycin D and anisomycin were not attributed to state dependency. (A) Timeline of behavioral procedures for experiment 7. (B) Cannula was placed in the BLA. Percent fear-potentiated startle measured 24 h before (pre-extinction test), 24 h after (post-extinction test 1), and 48 h after (post-extinction test 2) extinction training. Rats in each group underwent VEH SAL, ACT DCS, or ANI DCS prior to a single session of extinction training and prior to post-extinction test 2. Animals were tested for fear-potentiated startle in the absence of drugs (values are mean SEM, * P 0. 05). C) Cannula tip placements transcribed onto atlas plates adapted from Paxinos and Watson (1997). 258 Y. L. Y ang and K. T. Lu / Neuroscience 134 (2005) 247–260 Fig. 8. Effect of pretest PD98059, U0-126, wortmannin, actinomycin, and anisomycin administration on fear-potentiated startle. (A) Timeline of behavioral procedures for experiment 8. (B) Cannula was placed in the BLA. Percent fear-potentiated startle was measured 24 h after fear conditioning. Rats were treated with DMSO, PD98059 (PD), U0-126 (U0), wortmannin (WH), vehicle (VEH), actinomycin (ACT), or anisomycin (ANI) 25 min prior to the fear-potentiated startle test (values are mean SEM). C) Cannula tip placements transcribed onto atlas plates adapted from Paxinos and Watson (1997). DISCUSSION We build on the previous ? ndings that DCS facilitated extinction of conditioned fear (Walker et al. , 2002; Ledgerwood et al. , 2003, 2004; Ressler et al. , 2004). Here, we show for the ? rst time that the DCS effect was prevented by co-administration of MAPK, PI-3K, transcription, and translation inhibitors. Control experiments indica ted that the blocking effects of actinomycin D and anisomycin on extinction were not due to lasting damage to the BLA or state dependency. In addition, none of active drugs we used in this study altered the expression of conditioned fear.These results suggest that PI-3K and MAPK-dependent signaling cascades and de novo protein synthesis within the BLA were important for DCS facilitation. Early behavioral studies by Pavlov (1927) and Konorski (1948) de? ned extinction as an active process involving formation of new inhibitory associations as opposed to forgetting previously conditioned associations. Numerous studies since have con? rmed and elaborated these early ? ndings (reviewed in Falls and Davis, 1995; Davis et al. , 2000). It is now well accepted that extinction occurs with repeated presentation of a CS in the absence of the pre- Y. L. Yang and K. T. Lu / Neuroscience 134 (2005) 247–260 259 viously paired US.This reduces the conditioned response elicited by the CS. In co ntrast to forgetting which implies the passive loss of memory, extinction implies active formation of new inhibitory associations competing with and overpowering original excitatory associations. Evidence is growing that extinction may involve circuits and use mechanisms of synaptic plasticity similar to those of conditioned fear learning (Falls and Davis, 1992; Cox and Westbrook, 1994; Baker and Azorlosa, 1996; Davis et al. , 2000). NMDA-dependent synaptic plasticity appears to mediate many forms of active learning (Morris, 1989; Staubli et al. , 1989; Flood et al. , 1990; Collinridge and Bliss, 1995).It is likely that conditioned fear learning depends on CS–US pairing mediated by NMDA receptors within the BLA (Miserendino et al. , 1990; Fanselow and LeDoux, 1999). Extinction also appears to require active, NMDA-dependent learning within the amygdala. This was demonstrated by blockage of extinction by microinjections of APV into the BLA in both fear-potentiated startle (Fall s and Davis, 1992) and freezing paradigms (Lee and Kim, 1998). Furthermore, systemic administration of a different NMDA antagonist, MK801, blocks the extinction process in a range of different learning paradigms (Cox and Westbrook, 1994; Baker and Azorlosa, 1996; Kehoe et al. , 1996).Recently, DCS, a partial agonist acting at the strychnine-insensitive glycine-recognition site of the NMDA receptor complex, has repeatedly been shown to facilitate learning in various cue and context association paradigms (Monahan et al. , 1989; Flood et al. , 1992; Thompson and Disterhoft, 1997). Walker et al. (2002) reported the ? rst evidence that DCS facilitates extinction of learned fear. Since then, further studies con? rmed and elaborated this early ? nding (Ledgerwood et al. , 2003, 2004; Ressler et al. , 2004). These studies reported that DCS is more effective at facilitating extinction when given after extinction training, rather than before. They interpret these ? dings as evidence that DCS facilitates the consolidation of a new memory acquired during extinction. It is important to note that although some studies have shown DCS to be effective in improving memory impairment due to Alzheimer’s disease (Schwartz et al. , 1996; Tsai et al. , 1999) and schizophrenia (Javitt et al. , 1994; Goff et al. , 1999), other studies found little or no improvement (Tsai et al. , 1998; van Berckel et al. , 1999). This may be related to the fact that acute treatment with DCS may have a more pronounced facilitation than chronic treatment (Quartermain et al. , 1994; Ledgerwood et al. , 2003; Richardson et al. , 2004). Ledgerwood et al. (2003, 2004) reported that DCStreated animals fail to exhibit reinstatement effects.That DCS enhances extinction may be through some processes different from extinction induced by repeat representation of CS. Lin et al. (2003) investigated the similarities and differences between consolidation of conditioning and consolidation of extinction. They fo und that both processes depend on activation of NMDA receptors, PI-3K, MAPK, and require synthesis of new proteins within the amygdala. They also found that different characteristics show differential sensitivity to the transcription inhibitor actinomycin D. Our results were consistent with the model that the extinc- tion process involved active learning of new inhibitory associations.Here we showed that DCS facilitation of extinction could be blocked by actinomycin D and anisomycin. These seemingly con? icting results could be attributable to our extinction protocol. Our protocol resembled betweensession extinction, presumably corresponding to long-term extinction memory. In addition, we used DCS to facilitate the extinction process and tested the animals in a drug free condition. Acquisition or consolidation of long-term memory requires activation of protein kinase, transcription of genes, new protein synthesis, and synapse formation (Schafe and LeDoux, 2000). Similar mechanisms w ere involved in the DCS facilitation of extinction. The DCS activated NMDA receptors, resulted in Ca2 in? x into the cell, and led to the PI-3K and MAPK activation. Activated MAPK can translocate to the nucleus, subsequently activating transcription factors to promote gene transcription and new protein synthesis. Thus, combinations of drugs and extinction training may weaken or erase original memory. There is increasing evidence that learning of CS–US associations involves synaptic plasticity within the BLA, leading to differential activation of this circuit by sensory afferents (Davis, 1997; Rogan et al. , 1997; Lee and Kim, 1998; Fanselow and LeDoux, 1999). 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