Arizona Immigration Law Essay Example | Topics and Well Written Essays - 750 words

Arizona Immigration Law - Essay Example â€Å"Gov. Jan Brewer of Arizona signed the nation’s toughest bill on illegal immigration into law in April 2010. Its aim is to identify, prosecute and deport illegal immigrants† (Archibold). Even though, the above bill got some support in Arizona and some other parts of America, many of the prominent political leaders including President Obama and scholars slammed Arizona’s decision to implement such a bill in its territory. Many others expressed their doubts about the legal validity of such a bill considering the fact that America is a federal republic. I strongly believe that Arizona immigration bill is totally against the constitution of America and this paper argues against it. America is currently facing huge manpower shortage in almost the entire segments of the professional world or employment segments. In fact President Obama is trying hard to regulate or prohibit outsourcing jobs. He knows very well that American organizations outsource its jobs to chea p labor markets in order to reduce their expenses. In America, availability of skilled labor is extremely low and therefore it is highly expensive. In fact, illegal immigrants are ready to work on cheaper rates, which is a blessing to the American organizations, especially to the small and medium scale industries. California is one state in which small and medium scale industry is completely dependent on illegal immigrants who are ready to work on cheaper rates. Because of that California is able to compete effectively in the market by reducing the price of their products and services. Arizona is going to suffer heavily because of the crackdown of illegal immigrants and subsequent underdevelopment in small and medium scale industries. Small and medium scale industries are actually controlling the economy of a state and any problems created in this sector may adversely affect the state in the long run. In short, Arizona is going to lose millions of dollars in its revenue as a result of this controversial immigration law. This law creates a suspect class, based in part on ethnicity, considered guilty until they prove themselves innocent. It makes it harder for illegal immigrants to live without scrutiny -- but it also makes it harder for some American citizens to live without suspicion and humiliation. Americans are not accustomed to the command 'Your papers, please,' however politely delivered (Arizona's Hard Line on Immigration: Pros and Cons) One of the surprising things about this controversial bill is the decision of American Supreme Court. â€Å"The Supreme Court gave a big boost to proponents of stricter state laws against illegal immigration by upholding Arizona's "business death penalty" for employers who repeatedly hire undocumented workers† (Savage). In other words, Supreme Court upheld the decision of Arizona to punish the employers who employ illegal immigrants. Even though three of the total eight members in the jury gave their verdict again st the law, majority of the jury supported the law and allowed Arizona to implement it without any reconsideration. â€Å"The court's majority opinion, written by its chief justice, John Roberts, rejected arguments by business and civil rights groups and the Obama administration that the Arizona law conflicted with federal immigration law and must be struck down† (Arizona immigration law upheld by supreme court). Supreme Court also upheld the right of a state in passing such a controversial law. In my opinion, Supreme Court failed to

Reflective paper Personal Statement Example | Topics and Well Written Essays - 2000 words

Reflective paper - Personal Statement Example Being in a hurry to get home, the thought to get down and check the stricken car did not even cross my mind and without notifying the owner of the other car I drove away. It was not in my knowledge that the damage to the other vehicle was of such intensity; in fact, at that point in time the idea of any significant damage had not entered my mind. Maybe there might have been a â€Å"thud† however, to my mind then the sound must have been inaudible. The stress under which I had been driving proved to be my distraction and clouded my better judgment. The pre-occupancy of schoolwork, deadlines, examinations, distressing my teachers and the anger of my awaiting parents at home all swirled within my head, tugging for my attention and consequently caused my head to spin. This stress then coupled with a headache is my only excuse to having overlooked the right way of handling the situation. I must admit here that somewhere in the back of my mind the thought of this incident did linger ; yet I tried to push it further back to dismiss it. The more I tried the more it came back to me and the more it began to feel real. I began to realize the possibility of actually having struck the car behind me and the thought disturbed me. I contemplated of the idea a few times but always winded up assuring myself that no such thing had happened. Guilt would spread over me at the mere thought of my suspicion being true. I said to myself, and then my discourse following the incident should have been otherwise. It was not easy wrenching away the guilt that crept over me but I could not muster the courage to own up to my mistake. Would anyone believe my innocence after I had driven off or would I even be heard at all in my plea for innocence? These questions haunted me and frightened me out of doing the honorable act of making things right. Having never been in such a situation, I began to wonder if I had hurt anybody, directly or indirectly. Had

Clean Edge Essay Example for Free

Clean Edge Essay Non-disposable razors recorded average growth of about 5% in retail sales during the period 2007 to 2010 whereas refill cartridge and disposable razors recorded growth of approximately 2% and 3% respectively for the same period. Innovations and new product introductions are the prime factors for the growth. Non-disposable razors and refill cartridge market is broadly classified into three segments namely value, moderate and super premium based on price and quality. Paramounts consumer research identified distinct segmentation in terms of product benefits and consumer behavior. % of non- disposable razor users are segmented as Involved Razor users, social/emotional shavers; 28% as Involved Razor users, aesthetic shavers and 33% as Uninvolved Razor users, maintenance shavers. Studies from 2009 showed that the retail sales of non- disposable razors and refill cartridge came from 25% volume of super-premium, 43% of moderate and 32% of value segments. In the last decade, the industry has experienced significant growth in the super premium segment. Product innovation and new technology is leading this sector for a number of new entrants. In 2008-09 the rate of new product innovation leads to 22 new SKUs to be introduced. SWOT Analysis Strengths Paramount Health and Beauty Companys biggest strength is that it is a well- established brand with deep pockets and a very good association with consumers. The product- Clean Edge Razor, that they nave released, is also technologically in the current market. Weaknesses best The company does not have a slice in the 37. 2% of the pie that corresponds to the super premium segment which has immense potential. Also there is a risk of launching the product in the wrong segment or positioning it wrongly. A wrong move could result in cannibalization of Paramount Pro, another product in their portfolio. Opportunities There is very good growth in the super premium segment especially in mens grooming. The market is also highly profitable so vendors are ready to stock the products. Also, the maintenance users are a market not ventured by any company till date. Hence the opportunities are immense. Threats A good number of competitors are trying to become the leader in this segment which is expected to grow in the future. The competitors could also catch up with the latest echnology and release a technologically more advanced product. Availability of alternatives like disposable and electric razors make a high threat of substitutes. Because of large number of products available and constant innovation in the sector it is very easy for the consumers to switch the companies. Hence, consumers have a high bargaining power. Entry barriers are low in the industry since no major R;D costs are involved and there are no major regulations. The bargaining power of the suppliers is low. Hence, overall the premium segment of nondisposable razors is an attractive industry to enter into. Positioning Strategy: The first strategy that we suggest is Niche Positioning, targeting the premium segment: As of now, the products released by Paramount in the non-disposable razer segment, Paramount Pro and Paramount Avail are positioned in the moderate segment and as a value -offering respectively. After three years of development, Paramount Health and Beauty Company has come up with a new technologically advanced vibrating razor called Clean Edge. Keeping in mind the superior technology used and the fact that Paramount has not launched a product targeting the premium egment, Paramount could adopt Niche Positioning while launching Clean Edge. However, there are certain disadvantages and advantages: Advantages: Positioning Paramounts Clean Edge as a niche will accentuate the companys product portfolio significantly. From the exhibits it is visible that it will result in high and consistent profit margins for the company and the risk involved will be less. Apart from that, the financial requirement of launching the product in the premium segment is only 15 million dollars as against 42 million dollars for the mainstream targeting. Disadvantages: As the trends suggests, understanding the fact that the premium segment has not been targeted significantly, almost all of Paramounts competitors have launched products for this segment. Also, for the past 5 years, the companys current products Pro and Avail have not introduced any new innovations as a result of which its customers are moving on to other competitors. The product pro is in the mature face and might need phasing out eventually. The second strategy that can be followed is Mainstream Positioning. The advantages and disadvantages of the same are as follows: Consumers are becoming more and more sophisticated day by day and expect more advanced technology. Paramounts bread and butter product, Pro was in the mature phase of the product lifecycle so there is a possibility of decline. Positioning Clean Edge as mainstream product will help prevent loyal Paramount customers from being wooed away to more innovative brands. Main stream razor unit volumes are expected to capture over three times the volumes of the niche market in the first year. Clean Edge has the potential for true market domination and would quickly gain ass appeal. Disadvantages: Paramount already had product in mainstream positioning -Paramount Pro so launching it as mainstream positioning will dilute the brand power and will lead to cannibalization. More marketing support will be needed to reach the target masses. The company would require an extensive advertising campaign, considerable consumer promotions would be needed and thus the expenses associated with them will be huge. To reach full sales potential with this positioning, $42 million marketing budget would be needed for year one. Total sales of Paramount for Avail and Pro for first year (2009) and second year (2010) are calculated using the market size (retail sales) and corresponding market share, both real (2009)and estimated (2010), of Paramount. The cost of Cannibalization is calculated using total sales and percentage of cannibalization given. Analyzing the result, it is evident that launching the product is a profitable venture; however, the cost of cannibalization may change equations. The cost of cannibalization is lower for the niche market as compared to mainstream market. Although, cannibalization djustments give us losses for the first year in the case of both mainstream and niche, the profit obtained in the second year for mainstream is larger than niche market. Branding Strategy The branding should be done in such a way that it emphasizes Clean Edge Razor as a unique and breakthrough product with the usage of latest technology. However, given the tight advertising budget, it should use the well-established name of Paramount rather than build a brand based on the Clean Edge. This should help potential buyers connect with the product quickly and test it. This should ensure maximum sales. Recommendations Conclusion The recommendation is to introduce the Clean Edge into the marketplace as a niche product since data shows that consumers in the premium segment are willing to switch between the companies. Using advertising and promotion of the new product we can gain market share from competitors. Exhibit 8directly suppo rts this recommendation and snows that even though unit sales are less than main stream sales, the operating profit and the operating profits as % of sales is higher. In both year one and year two, this niche arket is profitable and growing. It is here that Paramount should focus its efforts on product introduction and positioning for the Clean Edge Razor. Once it has launched itself in the niche segment, Randall should then launch it, maybe after 2 to 3 years, in the mainstream category. As the data shows, both niche and mainstream strategy will help Paramount to raise its market share in super- premium non disposable razor segment. But the niche strategy will enables Clean Edge Razor to contribute profit and at the same time, limit the effect of cannibalizing Paramounts existing products.

Looking At Womens Sexuality In Cane English Literature Essay

Looking At Womens Sexuality In Cane English Literature Essay The Harlem Renaissance was a time period when the African American art and culture started to thrive. This time period many African American people started feeling more assimilated with American culture then before. The migration from the suppressed south to the north is what ushered in the Harlem Renaissance period. This was also a time where African Americans had let down their inhibitions which in turn paved the way for the culture to come through. Still, many black people had to go through challenging times. Many of the southern blacks had to deal with racial beatings and lynching. The author who really drew a vivid picture of the lives of southern black people was Jean Toomer. Toomer wrote his famous novel Cane at the beginning of the Harlem Renaissance which further inspired other African American artist. In Cane, Toomer uses vibrant imagery of Georgia and symbolism to show the lives of southern black people. His stories Portrait in Georgia and Georgia Dusk mention lynchings th at white people use in attempt to show black people who the powerful race is. Other stories like Song of the Son and Cotton Song echo the past history of slavery. One prominent theme that seems to be relevant in Cane is sexuality, or more prominently black womens sexuality. In the first story Karintha, Toomer tells of a girl who Men had always wantedà ¢Ã¢â€š ¬Ã‚ ¦even as a child (Toomer 1). The lust of Karintha at a young age was one so tempting that even older men wished for youth so they would have a chance with her. This changes though when She played home with a small boy who was not afraid to do her bidding (Toomer 1). This line seems to imply that Karintha married a man who could provide certain things to her. Further lines that talk about the old men who remind Karintha of when they use to lust after her, mentions that she Smiles, and indulges them when she is in the mood for it, which supports the idea that Karintha has turned into a prostitute. This is also evident when Toomer explains: The attention given to Karintha was only used for her sexuality. Ultimately, the lust for Karintha dehumanized her existence and The soul of her was a growing thing ripened too soon (Toomer 2). This quote reinforces the idea of Karintha being a prostitute. From these actions it could also be implied that Karintha had a stillborn baby when Toomer writes But Karintha is a woman, and she has had a child. A child fell out of her womb onto a bed of pine-needles in the forest (Toomer 2). At the beginning of this story, Toomer shows the innocence of a young Karintha, he then contrasted that to an older used Karintha. Another story Carma is about a black woman who is strong as any man (Toomer 10). Carmas promiscuous sexuality is what ultimately lands her husband in a chain gang. The story goes on to explain that Carma has an extramarital affair She had others. No one blames her for that (Toomer 11). She might not be blamed for that, but she is blamed after her husband finds out about the affair. This leads to Carma shooting herself to gain more sympathy from him. This does nothing but anger her husband who states Twice deceived, and one deception proved the other, then kills a man next to him (Toomer 11). Toomer portrays Carma as somewhat of a she devil for her promiscuous sexuality that angers her husband who ends up serving his time. Toomer shows the opposite of the sexual promiscuity in the last two stories with Fern. Fern is a black woman whose body is sexualized by other men but she purposefully remains a virgin. While men thought that Ferns eyes said to them that she was easy, really she did not feel obliged to satisfy their needs. Men could not believe that she would not have them and A sort of superstition crept into their consciousness of her being somehow above them. Being above them meant that she was not to be approached by anyone. She became a virgin (Toomer 14). It the story it says that while being a virgin is normal, not wanting to reproduce is not and that black folks were made to mate (Toomer 15). It could be assumed that Fern is portrayed as a Madonna, which would coincide with a line in another one of Toomers stories that mentions a Negress who drew a portrait of a black Madonna on the courthouse wall (Toomer 21). After the narrator spend time with Fern, he breaks down the real Fern who ended up fainting in his arms. The men in the town hear about this and the narrator is given dirty looks because they felt he had in some way threatened their black Madonna. Toomer uses vivid images of the landscape in the story. At the end, he connects Fern with the detailed landscape. Toomers next story Esther, is a about a black girl who looks like a little white child (Toomer 20). Through the story Esther badly wants to associate herself to the black culture but finds it hard because she is lighter and her dad is the richest black person in town. Esther in not portrayed as a black temptress like in the other stories in Cane; she is considered not attractive. Esther dreams of being accepted into the black culture. In one, she dreams there is a fire in the town which could be seen as a metaphor for her desire. When the fire starts the women scoot in all directions leaving Esther with a baby who is Black, signed, woolly, tobacco-juice baby-ugly as sin. Once held to her breast, miraculous thing: its breath is sweet and its lips can nibble (Toomer 22). This can be interpreted as Esther thinking that she needs a dark skinned baby to feel less light skinned. While the people in her dream might see the baby as ugly, she sees it as her bond to darker skin, forgetting her own color. Esther knows that men do not notice her and even says I dont appeal to them. I wonder why (Toomer 22). This is when her obsession with a black man named Barlo begins because it helps her forget she is lighter. She wants to offer herself to Barlo so she will be able to conceive her dark skinned child she had dreamed of, thus becoming more darkened. When Barlo returns to town she seeks to meet him face to face to give her body to him which does not turn out well as he recognizes her lighter skin tone. With the failed disappointment Esther tells herself The thought comes suddenly, that conception with a drunken man must be a mighty sin (Toomer 25). Her dreams to reproduce with Barlo failed, she becomes completely disembodied. At the end of this story, the town disappears along with her dreams. While the men in African American culture tried so hard to get away from the view that white people had, believing black people to be over sexualized beings, Toomer portrayed his black women just as that. While there has been a social stigma surrounding the false belief that African American women are over sexualized, some of the stories such as Karintha, Carma, and Fern do nothing to discredit that belief. Granted, this was not a stronger theme in these stories that lynching or slavery was. That being said, the Harlem Renaissance period was a time when white people had started to notice African American art and Toomer tried to accurately display the real lives of African Americans in Cane.

Did Germany Cause World War I Essay -- essays research papers fc

Did Germany cause World War 1?   Ã‚  Ã‚  Ã‚  Ã‚  Although in the Treaty of Versailles Germany was to accept full responsibility for World War 1 this in not necessarily the case. Many factors have to be taken into account when considering the cause of World War 1. Germany may have been primarily responsible for the war but the other major powers must accept some of the blame for failing to prevent it. The conflict resulting from the assassination of Archduke Franz Ferdinard should have been local and confined but due to a series of factors, militarism, the alliance system, nationalism, this one incident led to the greatest war Europe had ever seen. As a result of underlying hostilities the assassination led to a chain of events that ensured war on a wide scale.   Ã‚  Ã‚  Ã‚  Ã‚  The alliance system developed by Bismarck for defensive purposes was one of the major causes of the war. These alliances however took a more aggressive tone in the hands of Bismarck’s successors. Also Bismarck’s alliance system was too intricate for anybody other than himself to maintain. While he was alive the alliances preserved peace but in the hands of William the 2nd these alliance were destroyed. Bismarck’s policy was to keep France isolated however with William refusing to renew the Reinsurance Treaty with Russia. France now had an ally thus resulting in the signing of the Franco-Russian Entente in 1891. In 1904 Britain and France formed a non-military alliance called the Entente Cordial. As a result at the outbreak of war Europe was divided into two armed camps, the Triple Alliance and the Triple Entente. The Triple Alliance consisted of Germany, Austria-Hungry and Italy and the Triple Entente was made up of Britain, France, and Russia . These alliances facilitated a political assassination sparking a World War.   Ã‚  Ã‚  Ã‚  Ã‚  Along with the hostile divisions in Europe came the expansion of armies and navies thus leading to an arms race. This arms race was also precipitated by the increase in war budgets after 1900. Attempts to restrict the arms race, like The Hague conference in 1899 and 1907 failed due to mutual suspicion. The great powers also elaborated plans for mass mobilisation. It was thought that a war would be decided in the opening phases and therefore who ever got into the field first and assembled the largest army in the sh... ...;By 1914 the system of diplomacy in Europe had broken down. Statesmen were thinking of war as a preventative measure rather than a last resort. Lloyd George remarked that Europe â€Å"stumbled and staggered into war† (Reasons for War 3). World War 1 was a result of aggression and tension in Europe; all of Europe played a part in the outbreak of war not just Germany. World War 1 had many complex causes rather than one main one. Bibliography Delap, S. The Reasons for War. Dublin: The Institute, 1996. Gardner, D. The Origins of War. New York: YTM Archive, 1998. MacDonald, L. 1914. London: Michael Joseph, 1987. Tierney, M. Europe Since 1870. Dublin: CJ Fallon, 1993. Terraine, J. The First World War 1914-18. London: Secker & Warburg, 1965. Terraine, J. White Heat. London: Lee Cooper, 1992. Wohl, R. The Generation of 1914. London: Weidenfeld & Nicolson, 1980. Work Cited Delap, S. The Reasons for War. Dublin: The Institute, 1996. Gardner, D. The Origins of War. New York: YTM Archive, 1998. MacDonald, L. 1914. London: Michael Joseph, 1987. Tierney, M. Europe Since 1870. Dublin: CJ Fallon, 1993. Terraine, J. White Heat. London: Lee Cooper, 1992

Jd Salinger Essay -- essays research papers

Salinger, J(erome) D(avid) (1919- ), American novelist and short story writer, known for his stories dealing with the intellectual and emotional struggles of adolescents who are alienated from the empty, materialistic world of their parents. Salinger's work is marked by a profound sense of craftsmanship, a keen ear for dialogue, and a deep awareness of the frustrations of life in America after World War II (1939-1945). Jerome David Salinger was born and raised in New York City. He began writing fiction as a teenager. After graduating from the Valley Forge Military Academy in 1936, he began studies at several colleges in the New York City area, but he took no degree. He did, however, take a fiction writing class with Whit Burnett, an editor of Story magazine, who encouraged Salinger and brought out his first published story, "The Young Folks" (1940). Over the next several years Salinger contributed short stories to popular magazines such as Collier's, Esquire, and The Saturday Evening Post, continuing to produce work even while serving in combat during World War II as a staff sergeant in the United States Army from 1942 to 1946. After returning to civilian life, Salinger continued to achieve success with his short stories, many of which were drawn from his war experiences. During the late 1940s he published work in Mademoiselle, Cosmopolitan, and The New Yorker. At the age of 31, Salinger gained a major place in American fiction with the publication of his only...

Lakeside Essay

Discussion Questions 1. The owners of Lakeside as well as the company’s bank may require that an independent CPA firm perform an annual audit because the CPA firm could have an independence issue. The CPA firm in that Lakeside wants to hire is also the auditors for Lakesides main financial bank. The bank is a â€Å"main† user of the report put out by Lakesides auditor and in this case would be that banks auditor too. The connection is too close for the CPA firm to pick up this client, it would be against the ethically code. 2. Abernethy and Chapman do not have in-depth understanding of the consumer electronics industry that Lakeside is a part of, therefore it would be an unethical and against the rules of conduct. Rule 201 in General Standards part 1 says, â€Å"undertake only those professional services that the member can reasonably expect to complete with professional competence†. As stated if the firm does not have a member or experience in the field of business the auditing firm should refrain from taking on that client. Could an auditing firm get by in auditing the books of an electronic company when their specialty is car dealerships, probably but as an auditing firm that has never done the audits for a client in this field it is unknown the way business is handled and the right protocol in that field. There is an ethical obligation for the firm to discuss the expertise needed for them about the industry the client is in. 3. Profit-sharing bonuses seem like an easy and nice incentive for the employee by the employer but they bring along a lot of drawbacks and as an auditing firm open up a door for a red flag. There are very strict rules when adopting a profit-share policy that must be approved by the IRS and meet their guidelines. There is also a limit to the amount that employers can contribute to the plans. These guidelines are changing from year to year  and it would be something else Abernethy and Chapman would have to keep up on as well as make sure Rogers is doing the right thing. There is a lot of area for fraud here and as an auditing firm a section that would need to be under close watch. 4. If Rogers wanted Abernethy and Chapman to assist them in developing systems it would depend on a few factors. Abernethy and Chapman would be able to help develop the systems if Lakeside stays a private company. If Lakeside is a publicly traded company Abernethy and Chapman would have an independence issue if it was both the auditor and helping to develop systems for output. 5. If Andrews was assigned to visit the headquarters/warehouse some of the things a tour of the client’s facilities is helpful in obtaining a better understanding of the client’s business operations because operations because it provides an opportunity to observe operations firsthand and to meet key personnel. By viewing the facility you can view assets and interpret accounting data related such as inventory and some of the factory equipment. 6. There are a few reasons that Lakeside would not want to hire a CPA firm that has clients in the electronics industry, one of them being if Lakeside would not get as good of a report as the other electronics, it is very each for stakeholders and investors to see which company is better. Second, Lakeside may feel the auditor isn’t necessarily on their side, even though as an auditor we need to stay neutral and that our obligation is to the stakeholder in the company. List the fraud risk factors that the CPA firm might encounter if they accept this audit engagement. Be sure to include a discussion of all items that will probably require special attention during the audit. For each of these fraud risk factors, indicate how the auditor should follow up on each potential problem if the engagement is accepted. Use the following formal Fraud Risk Factors Auditor Follow Up Material misstatement that existed on reporting historical cost on the new building. Approach this subject right away and speaking with the previous auditors for what they experienced on this issue. Rogers Corporation to construct the latest facility for Lakeside This issue needs more information and legal terms on whether or not this is allowable. The audit option that was rendered on the books for year ending in 2011 With Rogers refusing to write down the reported value of the property can cause some confliction between any auditor and owner. Talking to Rogers and the previous auditor is the best way to get to the bottom of this issue and see who is at fault. Not as much of a fraud but Rogers growth plan could run the company into the ground Because Rogers was annoyed with the last firm because of stifle to his growth plans, as an auditing firm we need to figure out what is best for the company and determine whether his attitude towards not changing his growth plan would be an issu e. Why does more capital from being a publicly traded company help the company out There is nothing in the description that would give us as the firm an indication that having more capital will improve the position of the company. Growing and building more stores does not fix the problem. Coming to a determination on stock options will be crucial before taking this client on. The threat of closing the newer building near the strip mall. This brings up the factor that if the company is close to closing a store before they are even our client, their future looks slim. If this is the case do we want to have a audit report of â€Å"we think this business will fail in a few years† That’s not good business all around Rogers uncertainty about surroundings The fact that there were two electronic businesses that went out of business in the same town as him and he didn’t know the reason, makes me a little worried if he isn’t going to pay attention to his surrounds like this. I would approach this subject with our partners and Rogers before taking on this client. Does auditing them and also being the auditor of the bank they finance through become an independence problem? There would be an independence issue here that would need to either be resolved or conclude in not being able to have Lakeside as a client Abernethy and Chapman’s inexperience in the field of electronics Abernethy and Chapman should discuss with Lakeside their inexperience and explain to them how they plan on gaining experience Profit-Sharing Bonuses Profit-Sharing bonuses bring up a huge fraud risk and Abernethy and Chapman need to make sure they deal with this issue and either get Rogers to cut the plan or work out in great detail how it will work. King and Company Certified Public Accountants Richmond, Virginia INDEPENENT AUDITOR’S REPORT To the Stockholders Lakeside Company We have audited the financial statements of Lakeside Company as of December 31, 2011 and also have observed the operations and internal controls of Lakeside. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in compliance with U.S. GAAP. This includes the design, implementation, and maintenance of internal control pertaining to the preparation and fair presentation of financial statements that are free from material misstatement whether due to fraud or error. Auditor’s Responsibility Our responsibility is to give an opinion on Lakeside’s financial statements based on our audits. We must conduct audits in accordance with auditing standards generally accepted. Those standards require that we plan and perform audits to reasonable obtain sufficient evidence that gives us the best assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. All these procedures depend on the auditor’s judgment. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Lakeside Company has chosen not to value their latest store with accordance to guidelines established by the FASB. We strongly believe that the value of Lakeside’s $186,000 investment in their sixth store should be impaired. The continuing failure of the shopping center makes the fate of the Lakeside store appear uncertain to us. The president of Lakeside, Benjamin Rogers, continued to report this asset based on historical cost, and not fair value. Because of this, we feel that a material misstatement exists and thus, we issued a qualified opinion. Opinion In our opinion, except for the material misstatement with this investment, as mentioned in the preceding paragraph, the financial statements of Lakeside Company appear to be fairly stated with accordance to GAAP. Lakeside’s operations and cash flows seem to be in conformity with GAAP for the year ended December 31, 2011.