Infrared Film and Thermography Essay Example for Free

Infrared Film and Thermography Essay Thermogram of a traditional building in the background and a passive house in the foreground Infrared thermography (IRT), thermal imaging, and thermal video are examples of infrared imaging science. Thermal imaging cameras detect radiation in the infrared range of the electromagnetic spectrum (roughly 9,000–14,000 nanometers or 9–14  µm) and produce images of that radiation, called thermograms. Since infrared radiation is emitted by all objects above absolute zero according to the black body radiation law, thermography makes it possible to see ones environment with or without visible illumination. The amount of radiation emitted by an object increases with temperature; therefore, thermography allows one to see variations in temperature. When viewed through a thermal imaging camera, warm objects stand out well against cooler backgrounds; humans and other warm-blooded animals become easily visible against the environment, day or night. As a result, thermography is particularly useful to military and other users of surveillance cameras. Thermography has a long history, although its use has increased dramatically with the commercial and industrial applications of the past fifty years. Government and airport personnel used thermography to detect suspected swine flu cases during the 2009 pandemic.[1] Firefighters use thermography to see through smoke, to find persons, and to localize the base of a fire. Maintenance technicians use thermography to locate overheating joints and sections of power lines, which are a sign of impending failure. Building construction technicians can see thermal signatures that indicate heat leaks in faulty thermal insulation and can use the results to improve the efficiency of heating and air-conditioning units. Some physiological changes in human beings and other warm-blooded animals can also be monitored with thermal imaging during clinical diagnostics. Thermogram of cat. The appearance and operation of a modern thermographic camera is often similar to a camcorder. Often the live thermogram reveals temperature variations so clearly that a photograph is not necessary for analysis. A recording module is therefore not always built-in. Non-specialized CCD and CMOS sensors have most of their spectral sensitivity in the visible light wavelength range. However by utilizing the trailing area of their spectral sensitivity, namely the part of the infrared spectrum called near-infrared (NIR), and by using off-the-shelf CCTV camera it is possible under certain circumstances to obtain true thermal images of objects with temperatures at about 280 °C and higher.[2] Specialized thermal imaging cameras use focal plane arrays (FPAs) that respond to longer wavelengths (mid- and long-wavelength infrared). The most common types are InSb, InGaAs, HgCdTe and QWIP FPA. The newest technologies use low-cost, uncooled microbolometers as FPA sensors. Their resolution is considerably lower than that of optical cameras, mostly 160120 or 320240 pixels, up to 640512 for the most expensive models. Thermal imaging cameras are much more expensive than their visible-spectrum counterparts, and higher-end models are often export-restricted due to the military uses for this technology. Older bolometers or more sensitive models such as InSb require cryogenic cooling, usually by a miniature Stirling cycle refrigerator or liquid nitrogen. | Thermal Energy This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (July 2008) | Thermal images, or thermograms, are actually visual displays of the amount of infrared energy emitted, transmitted, and reflected by an object. Because there are multiple sources of the infrared energy, it is difficult to get an accurate temperature of an object using this method. A thermal imaging camera is capable of performing algorithms to interpret that data and build an image. Although the image shows the viewer an approximation of the temperature at which the object is operating, the camera is actually using multiple sources of data based on the areas surrounding the object to determine that value rather than detecting the actual temperature. This phenomenon may become clearer upon consideration of the formula Incident Energy = Emitted Energy + Transmitted Energy + Reflected Energy where Incident Energy is the energy profile when viewed through a thermal imaging camera. Emitted Energy is generally what is intended to be measured. Transmitted Energy is the energy that passes through the subject from a remote thermal source. Reflected Energy is the amount of energy that reflects off the surface of the object from a remote thermal source. If the object is radiating at a higher temperature than its surroundings, then power transfer will be taking place and power will be radiating from warm to cold following the principle stated in the Second Law of Thermodynamics. So if there is a cool area in the thermogram, that object will be absorbing the radiation emitted by the warm object. The ability of both objects to emit or absorb this radiation is called emissivity. Under outdoor environments, convective cooling from wind may also need to be considered when trying to get an accurate temperature reading. This thermogram shows a fault with an industrial electrical fuse block. The thermal imaging camera would next employ a series of mathematical algorithms. Since the camera is only able to see the electromagnetic radiation that is impossible to detect with the human eye, it will build a picture in the viewer and record a visible picture, usually in a JPG format. In order to perform the role of noncontact temperature recorder, the camera will change the temperature of the object being viewed with its emissivity setting. Other algorithms can be used to affect the measurement, including the transmission ability of the transmitting medium (usually air) and the temperature of that transmitting medium. All these settings will affect the ultimate output for the temperature of the object being viewed. This functionality makes the thermal imaging camera an excellent tool for the maintenance of electrical and mechanical systems in industry and commerce. By using the proper camera settings and by being careful when capturing the image, electrical systems can be scanned and problems can be found. Faults with steam traps in steam heating systems are easy to locate. In the energy savings area, the thermal imaging camera can do more. Because it can see the radiating temperature of an object as well as what that object is radiating at, the product of the radiation can be calculated using the Stefan–Boltzmann constant. Emissivity Emissivity is a term representing a materials ability to emit thermal radiation. Each material has a different emissivity, and it can be difficult to determine the appropriate emissivity for a subject. A materials emissivity can range from a theoretical 0.00 (completely not-emitting) to an equally-theoretical 1.00 (completely emitting); the emissivity often varies with temperature. An example of a substance with low emissivity would be silver, with an emissivity coefficient of .02. An example of a substance with high emissivity would be asphalt, with an emissivity coefficient of .98. A black body is a theoretical object which will radiate infrared radiation at its contact temperature. If a thermocouple on a black body radiator reads 50  °C, the radiation the black body will give up will also be 50  °C. Therefore a true black body will have an emissivity of Thermogram of a snake held by a human. Since there is no such thing as a perfect black body, the infrared radiation of normal objects will appear to be less than the contact temperature. The rate (percentage) of emission of infrared radiation will thus be a fraction of the true contact temperature. This fraction is called emissivity. Some objects have different emissivities in long wave as compared to mid wave emissions. Emissivities may also change as a function of temperature in some materials.[3] To make a temperature measurement of an object, the thermographer will refer to the emissivity table to choose the emissivity value of the object, which is then entered into the camera. The cameras algorithm will correct the temperature by using the emissivity to calculate a temperature that more closely matches the actual contact temperature of the object. If possible, the thermographer would try to test the emissivity of the object in question. This would be more accurate than attempting to determine the emissivity of the object via a table. The usual method of testing the emissivity is to place a material of known high emissivity in contact with the surface of the object. The material of known emissivity can be as complex as industrial emissivity spray which is produced specifically for this purpose, or it can be as simple as standard black insulation tape, emissivity 0.97. A temperature reading can then be taken of the object with the emissivity level on the imager set to the value of the test material. This will give an accurate value of the temperature of the object. The temperature can then be read on a part of the object not covered with the test material. If the temperature reading is different, the emissivity level on the imager can be adjusted until the object reads the same temperature. This will give the thermographer a much more accurate emissivity reading. There are times, however, when an emissivity test is not possible due to dangerous or inaccessible conditions. In these situations the thermographer must rely on tables. Difference between infrared film and thermography IR film is sensitive to infrared (IR) radiation in the 250 °C to 500 °C range, while the range of thermography is approximately -50 °C to over 2,000 °C. So, for an IR film to work thermographically, it must be over 250 °C or be reflecting infrared radiation from something that is at least that hot. (Usually, infrared photographic film is used in conjunction with an IR illuminator, which is a filtered incandescent source or IR diode illuminator, or else with an IR flash (usually a xenon flash that is IR filtered). These correspond with active near-IR modes as discussed in the next section. Night vision infrared devices image in the near-infrared, just beyond the visual spectrum, and can see emitted or reflected near-infrared in complete visual darkness. However, again, these are not usually used for thermography due to the high temperature requirements, but are instead used with active near-IR sources. Starlight-type night vision devices generally only magnify ambient light. Passive vs. active thermography All objects above the absolute zero temperature (0 K) emit infrared radiation. Hence, an excellent way to measure thermal variations is to use an infrared vision device, usually a focal plane array (FPA) infrared camera capable of detecting radiation in the mid (3 to 5 ÃŽ ¼m) and long (7 to 14 ÃŽ ¼m) wave infrared bands, denoted as MWIR and LWIR, corresponding to two of the high transmittance infrared windows. Abnormal temperature profiles at the surface of an object are an indication of a potential problem.[4] Thermal imaging camera screen. Thermal imaging can detect elevated body temperature, one of the signs of the virus H1N1 (Swine influenza). In passive thermography, the features of interest are naturally at a higher or lower temperature than the background. Passive thermography has many applications such as surveillance of people on a scene and medical diagnosis (specifically thermology). In active thermography, an energy source is required to produce a thermal contrast between the feature of interest and the background. The active approach is necessary in many cases given that the inspected parts are usually in equilibrium with the surroundings. Advantages of thermography * It shows a visual picture so temperatures over a large area can be compared * It is capable of catching moving targets in real time * It is able to find deteriorating, i.e., higher temperature components prior to their failure * It can be used to measure or observe in areas inaccessible or hazardous for other methods * It is a non-destructive test method * It can be used to find defects in shafts, pipes, and other metal or plastic parts[5] * It can be used to detect objects in dark areas * It has some medical application, essentially in kinesiotherapy Limitations and disadvantages of thermography * Quality cameras often have a high price range (often US$ 3,000 or more), cheaper are only 4040 up to 120120 pixels * Images can be difficult to interpret accurately when based upon certain objects, specifically objects with erratic temperatures, although this problem is reduced in active thermal imaging[6] * Accurate temperature measurements are hindered by differing emissivities and reflections from other surfaces[7] * Most cameras have  ±2% accuracy or worse in measurement of temperature and are not as accurate as contact methods [8] * Only able to directly detect surface temperatures * Condition of work, depending of the case, can be drastic: 10 °C of difference between internal/external, 10km/h of wind maximum, no direct sun, no recent rain, Applications Kite aerial thermogram of the site of Ogilface Castle, Scotland. * Condition monitoring * Digital infrared thermal imaging in health care * Medical imaging * Infrared mammography * Archaeological Kite Aerial Thermography: Kite_aerial_photography * Thermology * Veterinary Thermal Imaging * Night vision * UAV Surveillance[9] * Stereo vision[10] * Research * Process control * Nondestructive testing * Surveillance in security, law enforcement and defence * Chemical imaging * Volcanology[11][12] * Building [13] Thermal imaging cameras convert the energy in the infrared wavelength into a visible light display. All objects above absolute zero emit thermal infrared energy, so thermal cameras can passively see all objects, regardless of ambient light. However, most thermal cameras only see objects warmer than -50 °C. The spectrum and amount of thermal radiation depend strongly on an objects surface temperature. This makes it possible for a thermal imaging camera to display an objects temperature. However, other factors also influence the radiation, which limits the accuracy of this technique. For example, the radiation depends not only on the temperature of the object, but is also a function of the emissivity of the object. Also, radiation originates from the surroundings and is reflected in the object, and the radiation from the object and the reflected radiation will also be influenced by the absorption of the atmosphere.

Big Daddy and the American Dream in Tennessee Williams Cat on a Hot Ti

Big Daddy and the American Dream in Tennessee Williams' Cat on a Hot Tin Roof  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚      Tennessee William's Cat on a Hot Tin Roof is a thought-provoking play that explores human relationships of all kinds. The character of Brick is forced to examine the relationship with his friend, Skipper, his wife, his family, and himself. Other characters, Gooper, Mae, and Big Mama, demonstrate stifling marriage relationships. Big Daddy, though, is one of the most interesting characters in that he illustrates the strange relationship one can have with one's possessions. Watt and Richardson, the editors, state that the play is about "acquisitiveness." That is, the acquiring of material possessions is central to the play, and this family. The Pollitts own a plantation home on the Mississippi Delta. Their house is a key figure in the work as much as any of the characters are in that it encapsulates the family's legacy of secrecy. To begin with, there is the central staging area of Brick and Maggie's bedroom. This room was once shared by the former owners, two men, a fact that seems to haunt Brick. Williams describes the decor of the room in some detail. He is most occupied with the "console combination of radio-phonograph, TV set and liquor cabinet." He seems incredulous at the size and symbolism in this possession. He writes, "This piece of furniture (?!), this monument, is a very completer and compact little shrine to virtually all the comforts and illusions behind which we hide from such things as the characters in the play are faced with . . ." (Williams 660). He is quite right. Not only does Brick hide behind the liquor in the cabinet, his true crutch, but the furniture does exemplify all the modern conveniences that many p... ...system that he speaks of is more than the lying and liars that immediately surround him; it is not just his family. The system that he lives in is materialism. He has bought into the American dream, in effect capitalism, and has at last found it lacking. Yet it is doubtful that this revelation will truly change Big Daddy in the way he lives his last days. For Williams' words concerning Brick ring true for Daddy as well. He writes, "I don't believe a conversation, however relevatory, ever effects so immediate a change in the heart or even conduct of a person" (706 act 3). Big Daddy is trapped in his American dream even as it has become his nightmare. Work Cited Williams, Tennessee. Cat on a Hot Tin Roof. In Stages of Drama: Classical to Contemporary Theater. Ed. Carl H. Klaus, Miriam Gilvert, and Bradford S. Field, Jr., 4th ed. Boston: Bedford/St. Martin ¹s, 1999.

Pfizer Inc/Warmer-Lambert Co. Essay

Pfizer is one of the leading pharmaceutical companies in United States. Its headquarters are in New York City and it is the owner of the drug Lipitar, an atorvastatin which is used to lower cholesterol in the blood.   The company produces a big range of other precuts.   Pfizer acquired Warmer-Lambert in 2000.   The two had been the leading companies in the research based pharmaceuticals.   In 1999 Pfizer had been named the fastest growing pharmaceutical company in its industry. Warmer-Lambert had been the Second (http://www.pfizer.com/home/). Warner-Lambert also deals with pharmaceuticals.   The company has grown through acquisition which started in 1962 when it acquired American Chide Company which produced gums and mints. American Chide Company was the owner of the Adams brand which was well known around the world. The merger between Pfizer and Warmer-Lambert was as a result of observation of the market trends in the industry and in the global economy.   The global market has been characterized by slow growth.   The market was not expanding at the same rate as it has before.   It seemed as if it was experiencing a slack in growth.   Thus for the companies to continue operating profitability there was need to capture a bigger share of the market and reduce competition. Because the market was not expanding at a good rate expansion of the companies’ operations could only be possible through taking over a bigger share of the existing market.   This called for greater and more effective efforts in competition (Mercola J. 2000). One way to gain competitive advantage is through cost cutting and concerted efforts. Merging the two fastest growing companies in the industry could effectively achieve this. Both companies were strong players in the market and combining power gave them a force that could enable them acquires additional share of the market from the other competitors.   Merging also could enable the companies make concerted efforts in marketing and other ventures hence saving on cost.   Cost reduction will help the companies gain competitive advantage in the market (http://www.secinfo.com/dsVsj.599.htm#1stPage). Expiration of a number of key patents was another major trend in the market.   Both of the companies are research based and had been holding patents which had been key to their operations.   Expiry of these patents meant the companies were loosing their hold in the market.   Many other competitors were due to come in the market.   Ã‚  Entry of additional competitors could inflate costs and m ay lead to reduction of profits.   Merging could help the companies to cut on this cost increase and compete more effectively in the market. Research and development costs were increasing at a higher rate.   The significance of research and development was gaining new heights in the modern business environment.   Because of the high competition and the rapidly changing business conditions the need for new innovations in operations and products has increased. More efforts and investment in research and development have been necessitated. These together with other factors have led to significance increase in Research and development costs. Both Pfizer and Warmer-Lambert are research based and merging them will enable them collaborate in Research and hence reduce cost effectively. Through their combined efforts the companies will be able to do more effective research. The role of e-commerce in business is changing significantly with many more business transactions being carried out though e-commerce. There is increased used of technology both in research and in doing business.   The way business is conducted have greatly been affected by e-commerce.   Thus, the companies had to change so as to utilize the effects of e-commerce for their benefits in the long run. (http://www,secifo.com/dsvsj/599.htm) There are several factors that motivated Pfizer Inc. to merge with Warmer-Lambert Co. Each of the companies had its motivational factors by generally both companies need to stabilize them product portfolio and reduce the dependence on some few key products. (http://www.secifo.com/dsvsj.599.htm).   Another motivating factor was the increased need of increasing their rate of growth.   Other factors that motivated the merger included increased in revenue, better research and development (R&D) and more cost cutting. Terms of transaction Pfizer paid a premium of 34% to Warmer-Lambert in the merger that resulted to Pfizer and Warmer-Lambert combining to form the largest pharmaceutical company in the world at that time. Shareholders of Warmer-Lambert got 2.75 shares of Pfizer common stock for each share of common stock held in Warmer-Lambert.   The Warmer-Lambert shares were valued at $98.31 per one unit by the closing prices of October 1999 against $ 35.75 per one unit of Pfizer shares by the closing price of February 4, 2000. This represented a premium of 34% (http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=105&STORY=/www/story/06-19-2000/0001246843) The company expected to have combined annual revenue of approximately $28 billion. The company expects a 13% growth on compounded annual revenue and 25% growth in earnings (The Birmingham Post).   The expected market capitalization is more than $230 billions.   After the merger 61% of the new company will be held by the Pfizer shareholders while the remaining 39% will be held by the Warmer-Lambert shareholders (http://www.pfizer.ca/english/newsroom/press%20releases/default.asp?s=1&year=2000&releaseID=29). The valuation of the target firm can be done as: calculation of the future value of the company FV = PV (1+2)n From this we can be able to calculate the valuation of the target company using DPV = FY / (1+a) n Where FV = Future value DV = Present value I = opportunity cost N = no of years FV = $ 90 billion x (1+0.01) 1 90 x 1.01 $ 90.9 billions. After getting the future value, the discounted present value can be calculated as 90.9 billions / (1+14%) 1 14% is got by adding the growth rate representing the opportunity cost and the risk factor which we assume to be 1% 90.9 / (1.0 + 0.14)1 (90.9 / 1.14) 79.74 billions. In the valuation there are several assumption made. One of the assumptions is that the risk factor is equivalent to one percent.   The other assumption is that the opportunity cost is Warmer-Lambert merging with Pfizer is equivalent to the growth rate expected.   Thus the assumed discount rate is expected to be 14% that is, combining the opportunity cost and the risk factor.   Another assumption made I s that the future value is calculated after only one year thus making the period n to be equal to 1. There are several risks that come with making the above assumptions. If the actual risk factor of the market is different from the assumed risk factor of one percent then the outcome of the valuation will not be accurate. This is risk as it may give a wrong impression of the effect of a decision, for example the decision of Warmer-Lambert to merge with Pfizer   Ã‚  Ã‚  Ã‚  Ã‚   Another risk is inherent because of the assumption that the opportunity cost is equal to the growth rate expected.   In the real business environment this may results that are not accurate.   This may lead to making a decision based on wrong information.   This may consequently lead to difficulties in the company or loss to the owners of the company. Pfizer mission have been to emerge as the leader in the pharmaceutical industry by the stunt of the new millennium. The company had aimed at becoming the most valued company to all its stakeholders who included patients, doctors, insurers, investors and business partners.   To achieve this, the company is committed to offering services of value to the stakeholders (Huff, A. Huff J. and Barr P; 2000). To ensure that Pfizer remained of value to the stakeholder the company was committed to innovation so as to provide products of value to its customers.   The company realized that innovation was what could enable tit to continue being relevant to needs of its customers in the long run.   As the customer needs were changing the company had to keep innovating to enable it to satisfy the needs of these customers. Pfizer in this regard was committed to continued Research and development productivity.   Much effort and finances were invested in research and development so as to produce more relevant products in the market. Pfizer strategy of success in the market was sustaining growth of existing products and expanding the range of products through innovations.   This innovation was facilitated by increasing productivity of research and development (http://findarticles.com/p/articles/mi_m0EIN/is_1999_Feb_1/ai_53672006 ). Pfizer’s acquisition of Warmer-Lambert was a major and useful step in the Company’s strategy toward attainment of its mission (http://goliath.ecnext.com/coms2/gi_0199-5212317/Pfizer-Driving-Performance-Through-Growth.html).. Acquisition of Warmer-Lambert by Pfizer was aimed at encouraging Business development. There are many benefits that this merger could help Pfizer to achieve. These benefits all worked for Pfizer in its quest to create the most valued pharmaceutical company to all its stakeholders. Acquisition of Warmer-Lambert helped Pfizer to get access to patent that Warmer-Lambert held.   Warmer-Lambert held some patents and so upon the merge the two companies could benefit from the patents.   Considering that the market condition was characterized by expiry of key patents meaning each of the company’s advantage of holding patents was slowly decreasing.   Thus, combining gave the two companies a great advantage as the new company could hold more patents (http://www.referenceforbusiness.com/biography/M-R/McKinnell-Henry-A-Jr-1943.html). Pfizer acquisition could also lead to the company getting access to new and racial technologies in the other firm.   Each of the company was developed in its own way and had technological capabilities that were unique to its operations.   This technology was in the form of processes and platforms which facilitated production and innovation. Combining these unique capabilities from two companies gave the resultants much power and benefits which could be denied from utilization of these technologies.   Access to both technologies by one company gave it synergy thus compounding the benefits to be derived from the technologies.   This synergetic combination of technology could help Pfizer advance its strategy of producing new lines of products through innovation.   This technology could also help the company to sustain growth of its existing products (Aitkin M. and Baskaran S. 2000) As technology is a major component to research and development, access to new technology could boost Pfizer’s efforts in research and development.   This boost in research and development could help the company to significantly reduce the cost of innovation.   Consequently, reduction in cost of innovation could lead to reduction of the overall cost and so boost profits of the company.   Reduction in costs could also help the company reduce the prices it charged for the product.   Reduction in the prices could lead to increase in sales as well as increasing the access of the products by greater number of customers.   An increased access of the precuts by many more customers will help to serve their need by the company and thus meeting the main aim of the company that is making it the most valued company to various stakeholders. The acquisition by Pfizer helped the company to expand its products line.   Acquiring Warner-Lambert made Pfizer the company with the broadest portfolio in the industry.   The company had products in various categories which included women health, central nervous system disorders as well as in many other categories. This was in line with the company’s aim of achieving a broad range of product instead of relying on a narrow range of products. The acquisition of Warmer-Lambert also gave Pfizer a big number of new products.   I had eight products in the year of acquisition which brought in more than $1 billion in sales in that year.   This was a great achievement for Pfizer, a company that was committed to increasing the contribution of innovation and research and development productivity. The achievement gave the company a boost toward attaining its overall aim. Combining the research operations of Pfizer and those of Warmer-Lambert produced the largest Research and development budget in the pharmaceutical industry. The new company had a budget of $4.78 billion set aside for research and development.   The scientific staff of the company was more than twelve thousand. This showed the commitment to innovation and increased Research and development productivity (http://www.forbes.com/feeds/ap/2008/01/23/ap4565943.html). Acquisition of Warmer-Lambert gives Pfizer much regard in the world and makes it the most productive in sales and marketing in the industry. This increases the reputation of the company among the stakeholders.   The company also acquires some of brands which are highly regarded in the world.   These brands Include Schick and Zaritac 75 http://hosted.ap.org/dynamic/external/ibd.morningstar.com/quicktake/standard/client/shell/AP707.html?ticker=PFE&valid=NO&MP=FP&pageidx=1&pageitemidx=2   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Combination of Pfizer and Warner-Lambert the two fastest growing companies in the world in the pharmaceutical industry produces a large organizational with great might. This enables the new company to have strong presence in major international market. Because of its power, the organization will be able to conquer new markets and compete effectively (http://news.bbc.co.uk/1/hi/business/633782.stm). Test of merger performance. a) The target, Warner-Lambert Company had a market capitalization of $60 billions in 1999. The acquirer, Pfizer had a market capitalization of $148.074 billions in that year (Financial Times 1999) After the merger between Pfizer and Warner-Lambert the new company had a market capitalization of $263,996 millions in 2001 (Financial times 10th May 2001). Before the merger Pfizer and Warner-Lambert had a total market of capitalization of $208.074 billions in 1999. After Pfizer acquired Warner-Lambert their total market capitalization was 263.99 billions in May 2001. This was a major increase in only one year after the merger.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The increase in the market capitalization after the acquisition signifies that it was beneficial. The merger was value enhancing in the short run for the investors who held shares in the company (Pryor F. 2001) b) After the merger of Pfizer Inc with Warner-Lambert Company the market reacted favorably to the new company. The combined market share increased from 7.8 percent to 8.2 percent after the merger (Http://www.referenceforbusiness.com/biography/M-R/McKinnel-Henry-A-Jr-1943.htm/). The total Revenue of the company in the subsequent year increased by 11 percent to $29 billion and the income rose by 10.9 percent to $7.8 billions as compared to year 2000 performance.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   On February 1 the market price for Pfizer stock was $32.12 by closing. After the acquisition of Warner-Lambert the share prices rose steadily to a close of $48.00 in 1st June 2000. This indicates that in the short run the market was favoring the merger between the two companies (Http://investing.businessweek.com/research/stocks/snapshot/historical.asp?symbol=DFE)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Generally the market reacted favorably to the merger in the short run. The market prices rose, the revenue and income rose as well as market capitalization. c) Performance of the merger by return to shareholders.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The merger between Pfizer and Warner-Lambert indicated good performance in the short run. The two giant companies merged to form one very powerful company. The good performance was reflected in the market prices of the new company shares as well as in the market share revenue and earnings. The returns to shareholders also increased in the year that followed the merger.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In 2001 a year after the merger the earnings of Pfizer grew considerably to reach 1-22 per share (http://www.thestreet.com/tech/adamfeuerstein/10005524.html)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In 2002 the earnings per share was $1.46 Revenue was $32.29413. This indicated a positive growth. It showed that the merger between the two giants was paying off for the second year consequently.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In 2003 the earnings fell to 0.54 indicating a negative growth. Revenue was $44.73614. This showed a slump in the benefit that had been derived from the merger in the previous year. Though the performance of Pfizer improved the years that followed the performance of 2003 were so discouraging and brought fear that the merger may not bring as much benefits as it had been expected earlier.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In general the performance of the merger was positive to returns to the shareholders. It worked to improve the wealth of the shareholders by increasing the earnings per share and market capitalization. This was possible as the company was able to cut on cost, increase market share and consequently increase Revenue. http://www.pfizer.com/files/annualreport/2004/financial/financial2004.pdf.) Evaluation and prognosis of merger between Pfizer and Warner-Lambert. a) M&A effects on Pfizer’s long term position in its product market areas. There had been both positive and negative effects experienced as a result of the merger between Pfizer and Warner-Lambert.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The short run was characterized by very encouraging positive results. These results showed that the company was achieving its goal of becoming the most valued pharmaceutical company to all its stakeholders. The positive effects were evident in the performance of the company. Immediately after the merger with Warner-Lambert, the stock prices shot up, the revenue soared and earnings increased. The market capitalization increased significantly. All the indicators showed that the company was headed for excellence in all aspects in the industry. It was able to increase its market share to a bigger percentage than the combined market share of the companies before the merger.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   However, in the long run Pfizer performance does not reflect the earlier exhibited positive growth. There had been a slack in the trend of growth that had been observed in the short run after the merger with Warner-Lambert. The merger between the two giant companies which had been declared the first and second fastest growing companies in the pharmaceutical industry was aimed at creating one giant company with great power to foster increase growth and development. The goal was to establish strong international presence in all major markets in the industry. Merging with Warner-Lambert made the new company the biggest in the industry with a huge budget of Research and development (Knack R. 2000).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Glaxo merged with Smith Kline to form GlaxoSmithkline a company that was bigger than Pfizer after acquiring Warner-Lambert. Thus the leadership role that Pfizer wanted to have was overtaken. The competitive advantage that had accrued to Pfizer as the largest company in the industry with ability to carry out costly researches and conquer new markets as well as release many new markets, diminished. Though Pfizer tried to fight further by putting more efforts through other acquisition it never gave much impact. Pfizer acquired Pharmacia but the impact was not as big as when it acquired Warner-Lambert (Ramrattan L. and Szenberg M. 2006).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The performance of Pfizer has not been as was expected considering its performance in the short run shortly after the merger. The stock prices had risen to $46 but this is not the case now. The stock prices have been decreasing steadily from $46 in June 2000 to $22.33 as of Friday February 2008. This shows that, instead of improving the company is facing some difficulties in operation (http://investing.businessweek.com/research/stocks/snapshort/historical/asp?symbol=PFE). The company’s performance has been below the industry’s performance since 2005 to present.   The performance is also below the S&P 500 index or performance of the pharmaceutical industry. (http://www.thestreet.com/tech/adamfeuerstein/10005524.html). Homer Pfizer has struggled to restructure its operations and remain relevant in the market. This restructure was in various operations of the company and even in the leadership. The chief executive officer was changed (http://www.referenceforbusiness.com/biography/M-R/McKinnell-Henry-A-Jr-1943.html).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The declining performance of Pfizer had been characterized by loss of some share of the market thus reducing the size of the market it had captured in 2000 after the merger. Pfizer, after much restructuring and leadership of a new CEO, have managed to remain one of the biggest in the industry with a market capitalization of $152,510 millions. The leading company in this industry is Johnson & Johnson which have a market capitalization of $180,004 millions. Pfizer is the second and Glaxo Smithkline PLC is the third with a market capitalization of $132,384 million (http://hosted.ap.org/dynamic/external/ibd.morningstar.com/quicktake/standard/client/shell/AP707.html?ticker=PFE&valid=NO&MP=FP&pageidx=1&pageitemidx=2).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Generally, the merger of Pfizer and Warner-Lambert helped Pfizer to gain some crucial benefits that helped the company to establish itself better in the market place. The population, Research and development muscle and acquisition of significant patents were major boosts for Pfizer. By acquiring Warner-Lambert, Pfizer got 100% ownership of the Lipitar patent which was one of the major products that have contributed to Pfizer good performance. However this have been in the short run and for the company to establish a firm long lasting position in its product market will require adoption of another strategy which will produce more long term benefits (Cerami C. 2000). b) Major changes to strategic decisions and directions to improve performance and prospects. There are some various changes that the Pfizer Inc can undertake so as to improve its performance in the short run and in the long run. Technology use. Pfizer can adopt a more purposeful use of technology to improve its performance. Technology is a powerful business tool which can be very useful in turning performance of a company round. Technology can be used in research, production of products, management and administration and in marketing (Du Boff R. 2000). In the modern world online commerce is rife and the companies utilize this opportunity for marketing its products to more areas of the world. The company should adapt a technology strategy which should be aimed at establishing new products, managing operations, establishing new markets and increasing competitive advantage ion the already established markets. Technology can improve operations of the company by better using the technology to manage information and communication in the company as well as establishing controls in the work. These are the aspects of the company that will help it to cut on administration costs as well as achieve more efficiency and hence increasing customer satisfaction. Customer satisfaction will in turn lead to improved sales and profitability of the company (Beltran L. 2000). Technology can also achieve a lot in production. Adapting high technology may be expensive at cost but the benefit derived will be major and long lasting. Besides that, good technology will lead to improved efficiency in production which will consequently lead to reduction in cost and improvement in quality of the products (Carey D and Ogden D. 2004). Explore new market Instead of depending on the already established market, Pfizer should put more effort in market research so as to determine other potential markets for its products. Earlier entry will give the company an upper hand than its competitors in the new market. Technology can be used to help in assessing the potential of these markets and also in identifying their specific needs so as to develop the products required for that market. This will enable the company to continue being relevant to more people of the world and thus further its effort of being the most valued pharmaceutical company to all the people of the world.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Other efforts should be put to explore all potential markets so as to ensure all feasible opportunities available are utilized for the benefit of the company. The company should keep on evaluating its market and the industry. The market conditions in the modern world are characterized by rapid and more unpredictable changes and thus for a company to survive the instability that comes with unpredictable markets a lot of efforts have to be put in market scanning and evaluation of the industry. Consequently if a company want to be the leader in its industry a lot more have to be done. The company besides scanning the market has to put up a strategy that will help it to manage change effectively as well as project the market with a bigger degree of certainty and accuracy. The company should always be ahead of others and so should apply proactive measures instead of waiting to react to issues. Product range. The company should not rely on a few main products for its success in business. The company has a big range of products which should be marketed well so as to establish themselves better in the market and thus earn the company much revenue. Most of the products of the company can do better if more efforts can be used to market the products. The company should make up a marketing strategy aimed at conducting intensive marketing of all products. This will help the company to increase revenue got form all products instead of relying on revenue from a few products. Marketing can be done by utilizing emerging aspects of the market conditions. An example of such aspects includes electronic commerce. Pfizer can put up a strategy of conducting intensive online marketing and then conduct sales through electronic commerce. Pfizer should also try to market its image to European and American authorities as this will give it more easier job when it comes to lobbying for certification of new products. These measures will help the company avert problems that it had faced in the past due to delay in approval of some of its new products (Dubois W. 2003). Quick approval of products will help the company to start benefiting from its investment in the product as early as possible. Early approval of a prod7uct will also help to reduce the opportunity cost that comes up with such delays Acquisition Pfizer should reconsider its strategy of acquisition so as to gain dominance in the market. Though acquisition brings a lot of benefits, there are equally big costs involved from experience the benefits are not very long term so Pfizer should examine new strategies instead of being invested through acquisition can be invested in research of a potential market. Reference: Aitkin M Baskaran S.  Ã‚   Lamarre E.   Silber M. Waters S. A License to Cure. The McKinsey Quarterly, 2000. Associated press. Market performance. Retrieved on February 15, 2008 from http://hosted.ap.org/dynamic/external/ibd.morningstar.com/quicktake/standard/client/shell/AP707.html?ticker=PFE&valid=NO&MP=FP&pageidx=1&pageitemidx=2 BBC. Drug giants merge. Retrieved on February 15, 2008 from http://news.bbc.co.uk/1/hi/business/633782.stm Beltran L. (2000). Earnings Growth Redefined. Black Enterprise, Vol. 30, July 2000 Business wire. Warner-Lambert announces Goodes to retire.   Retrieved on February 15, 2008 from http://findarticles.com/p/articles/mi_m0EIN/is_1999_Feb_1/ai_53672006 Businessweek. Earnings. Retrieved on February 15, 2008 from http://investing.businessweek.com/research/stocks/earnings/earnings.asp?symbol=PFE Carey D. Ogden D. (2004). The Human Side of M & A: How CEOs Leverage the Most Important Asset in Deal Making. Oxford University Press. Cerami C. Is Bigger Really Better? Insight on the News, Vol. 16, March 6, 2000. Du Boff R.(2000) Herman E. Mergers, Concentration, and the Erosion of Democracy Monthly Review, Vol. 53, May 2000. Dubois W. (2003). Drug Research, the Extraterritorial Application of FDA Regulations, and the Need for International Cooperation. Vanderbilt Journal of Transnational Law, Vol. 36, 2003. Financial times May 10, 2001. Special reports. Retrieved on February 15, 2008 from Forbes.com. Pfizer 4Q profit falls but beat view. Retrieved on February 15, 2008 from http://www.forbes.com/feeds/ap/2008/01/23/ap4565943.html FTC Grants Final Clearance for Pfizer/Warner-Lambert Merger, Transaction Completed Today. Retrieved on February 15, 2008 from http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=105&STORY=/www/story/06-19-2000/0001246843 Goliath. Driving performance through growth. Retrieved on February 15, 2008 from http://goliath.ecnext.com/coms2/gi_0199-5212317/Pfizer-Driving-Performance-Through-Growth.html http://specials.ft.com/ft500/may2001/FT36H8Z8KMC.html http://www.pfizer.com/files/annualreport/2004/financial/financial2004.pdf http://www.pfizer.com/home/ http://www.referenceforbusiness.com/biography/M-R/McKinnell-Henry-A-Jr-1943.html Huff, A. Huff J. and Barr P; (2000). When Firms Change Direction. Oxford University Press, 2000. Knack R. Pfizer Fords a River. Planning, Vol. 66, June 2000 Mercola J. (2000). Pfizer to buy Warner-Lambert for $90 billion. Retrieved on February 15, 2008 from http://www.mercola.com/2000/feb/13/pfizer_warner_lambert.htm Pfizer. Annual reports 2004. Retrieved on February 15, 2008 from Pfizer. Pfizer and Warner agree to merger. Retrieved on February 15, 2008 from http://www.pfizer.ca/english/newsroom/press%20releases/default.asp?s=1&year=2000&releaseID=29 Pfizer. Retrieved on February 15, 2008 from Pryor F. (2001). Dimensions of the Worldwide Merger Boom. Journal of Economic Issues, Vol. 35, 2001. Ramrattan L. Szenberg M. (2006) Global Competition and the United States Pharmaceutical Industry. American Economist, Vol. 50. Referenceforbusiness.com. McKinnell-Henry. Retrieved on February 15, 2008 from Securities and Exchange Council. Facing our future together. Retrieved on February 15, 2008 from http://www.secinfo.com/dsVsj.599.htm#1stPage The Birmingham Post (England). Pfizer Looks to Global Leadership after Pounds 57bn Takeover of Warner-Lambert. February 8, 2000 The street.com. Pfizer keeps its outlook on positive side. Retrieved on February 15, 2008 from http://www.thestreet.com/tech/adamfeuerstein/10005524.html

Gun Control Should Be Enacted - 1922 Words

Each person has their own idea of what our founding fathers meant when they put this in our constitution. Some people use guns as a hunting sport or for food. But then there are the ones who want to cause harm to each other. I still remember the morning of December 11, 2012. The day the Clackamas Town Center shooting occurred. A man entered a busy mall, killed 2 people and seriously injured another. He ended up shooting himself after causing all that fear and pain to the shoppers. My family and I had planned to visit the mall that day to take my relatives who came to visit from California, but we overslept. We heard the news on the radio on our way there and we turned around knowing we could have been there. The culprit stole an AR-15 from†¦show more content†¦States as well as the Federal Government should step up to make sure our safety is protected. In an article written by Charles Blow he states, â€Å"[in my youth,] a rifle wasn t a weapon as much as a tool. People hunted†¦And they were a guard against intruders -though those intruders were more an idea than a reality in those parts - who might threaten life of property† (Blow). According to Blow, when he was a child, guns weren t such a big threat to kill humans as they are today, although many citizens owned them back then. Throughout the last few decades the only thing that has changed are the weapons that are available and the society in which all kinds of people who, for some reason, decide to hurt others. The gun industry has produced more powerful weapons and not all are specifically for hunting. Many of those guns end up in the hands of children, mentally unstable people and others who just want to cause harm. Blow states, â€Å"And there wasn t the fetish for military-style weapons and armor-piercing bullets† (Blow). In today s world, one can go out and purchase a .50 caliber Barrett rifle. It s one of the most powerful weapon a civilian can purchase. It s not legal to hunt with these rifles, so why are they made available to the public? It does not make sense that such a powerful weapon is available to the public. These military style weapons should be banned because they often turn murder into mass murder. The onlyShow MoreRelatedGun Control Laws Should Be Enacted1334 Words   |  6 PagesGun Control in America Gun Control in America has been argued back and forth for decades past. On one side it is strongly believed that the Second Amendment suggests that individual citizens have a constitutionally protected right to own a gun and protect themselves. These individuals believe that gun control laws do not in fact reduce gun violence. On the other side it is said if Gun Control laws are enacted there would be less gun and school violence. Also, it would be harder for criminals andRead MorePros And Cons Of Stricter Gun Control1357 Words   |  6 Pagesâ€Å"Guns are designed to kill. They have no other function† (Bowman and Newton). 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Gun control laws generally focus on passing legislation—by local state, or national government—to restrictRead MoreIn Recent Years, We Have Seen An Increase In Mass Shootings1638 Words   |  7 Pagesprevent this from happening again?† Many people believe that these problems can be fixed by further regulating firearms, of course, this opens the question, â€Å"Should more gun laws be enacted?† Firearms are rooted deep our country’s history; our founding fathers having fought the revolutionary war for our freedom recognized the importance of guns to citizens. Adding it as a fundamental right in the constitution as the second amendment. Stating that A well regulated militia, being necessary to the securityRead MoreThe Issue Of Gun Control1356 Words   |  6 PagesGun control has been a longstanding debate in many countries around the world. For centuries men were actually encouraged to arm themselves to protect their families and homes. 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However, a ban on conventional weaponsRead MoreEssay on Gun Control in Canada1400 Words   |  6 Pages  Ã‚  Ã‚   There has been considerable debate recently in Canada over the issue of gun control. The Canadian parliament enacted the Firearms Act to enforce gun control by requiring gun owners to register their firearms. Just recently, the government of Alberta lead in a charge, including five other provinces and numerous pro-gun groups, complaining that the law is unconstitutional and intrudes on provincial jurisdiction. They also claim that the act infringes on property and civil rights that are guaranteedRead MoreGun Control Versus Gun Rights1645 Words   |  7 Pages2017 Gun Control versus Gun Rights Gun control is a controversial topic that is widely discussed in the United States. The call for gun control came during the 1960’s when many famous figures were assassinated. Today Gun Right’s Activist believes we should not infringe on the Second Amendment. While Gun Control Activist believe we should take precautions to protect people from gun violence. The republicans typically are against gun control while democrats are for gun control. Gun control is a hotRead MorePersuasive Essay On Gun Control1744 Words   |  7 Pagesthe right to own guns. These are also the words that allow shooting after shooting to take place in our country. The United States is in desperate need of stricter, more uniform gun control laws so that the country may become a safer place. One of the main issues with gun laws in the United States is the lack of uniformity in the restrictions held by the states. â€Å"We looked at five types of gun control enacted at the state level: assault weapons bans, high-capacity magazine bans, gun possession prohibitionsRead MorePersuasive Essay On Gun Control1634 Words   |  7 PagesOver the recents years, there have been many arguments about the issue of gun control at the state and national level. In California, there have been a variety of enacted laws within recent years to address the issue of growing gun violence around the country and ways to prevent terrorist attacks. California s new enacted laws about gun control in the state range from abolishing certain features on weapons to restricting certain handguns or other firearms a person might buy. The legislative branch