Sunday, February 16, 2020
Studio Photography - Research Paper Example This paper analyzes the steps or processes, which should be followed by photographers, in order to produce quality images that satisfy their clientsÃ¢â¬â¢ desires. The process described in this article is consistent with Ray ParslowÃ¢â¬â¢s design process. Ray Parslow and his team design logos for companies, including other graphic works for companies and individual clients. Parslow suggests that, proper communication and understanding of the clients, is the most crucial step in studio photography (Galer 128). This always gives the photographers confidences for designing a process that will result in incredible results. The customersÃ¢â¬â¢ desires should not be satisfied only at the end of the design process, but it should be long-lived even after the creative process is terminated. The photographers should be capable of providing their clients with a variety of solutions, which are researched, to aid understanding of how the design process will be decided and executed to completion. After selecting a design process, the clients should constantly be involved in the process, so as to address any change that need to be made in the design process. This will give both the photographer and the client an opportunity to solve issues that were not taken into consideration at the onset of the process (Galer 128). Photographers must always ensure the final prod ucts delivered to their clients satisfy their needs, and reflects the level of their professionalism in this industry. This will also create a long term relationship between the artist and the client. The timing and service fee of the project should be agreed upon at the onset of the design process. This helps in determining the time and costs required to perform activities such as photography, editing, printing and writing. Other photographers such as Jacob of butterfield photography also agree with Parslow that the service fee and
Sunday, February 2, 2020
The South was not in an economic position to wage a successful war. Thoroughly explain why they were not and judge if you think this had an impact on the overall course of the war - Essay Example Southerners even avoided participation in industrial revolution which was welcomed and accepted by the Northern regions. The industries and the economy of the North was quite diversified in nature as they were involved in the production of both finished as well as agricultural goods. Due to developed factories and industries, the North was able to develop arms and ammunition required to wage a war. The South was even dependant on the North for finished goods and when the war started, the south realized that they lacked the resources needed to fight the war and their current sources of earning wealth were not properly structured (Millett, 2012, p.18). South even experienced decrease in income as the importers of cotton such as the Great Britain started importing from other nations such as India in order to remain neutral to both the North and the South. This event clearly proves that the South did not have the money required to fight the
Saturday, January 25, 2020
The Rise And Fall Of Kingfisher Airlines Kingfisher is a major airline based in Mumbai, India. It is the fifth Indias airlines that provide largest passenger airline in which international and domestic flights are provided to the customers with very flexible fares. Kingfisher is one of the largest airlines in India and it was established in 2003. It is owned by the Bengaluru based United Breweries Group. Basically the commercial operations are started in 9 may 2005 with the fleet of four new Airbus A320-200s Operating flight from Mumbai to Delhi. Then the next international operations are started on 3 September 2008 by connecting from Bengaluru to London. The Kingfisher airline has been facing financial issues for many years. Kingfisher airlines have the second largest share in the air travel market till December 2011. However due to the astringent financial crisis faced by the Kingfishers airline, it has now the fifth largest market share currently and only above Go Air Airlines. Kingfisher Airlines is one of the only seven airlines that are awarded 5-star rating by Skytrax along with Cathay Pacific, Qatar Airways, Asiana Airlines, Malaysia Airlines, Singapore Airlines, and Hainan Airlines. Kingfisher operates 250 daily flights including domestic and international services. Kingfisher Airlines carry more than 1 million passengers which help the Kingfishers Airlines to make the highest market share among all other airlines in India in May 2009. Kingfisher also holds the Skytrax award for one of the Indias best airline of the year 2011. Background: Main issue of the downfall of the Kingfisher Airline. All things are going in a very good manner and kingfisher is at its peak but in 2005 the airline faced many problems in the operations, the Airlines then reported as in loss. But the situation become worst when the new airlines called Air Deccan is adopted by the Kingfisher airline in 2007. Due the collaboration with the new airline the Kingfisher suffered a loss of over Rs. 1,000 Crore continuously for 3 years. In the Starting of 2012, the staff of Kingfisher airline is going on strikes and it also faced a very big loss of over Rs. 7,000 Crore with half of the money is bankrupted. In this tough situation the faces mainly faced financial problem and to overcome the situation the airline went for loans, so that they can cover it. But the heavy interest and debt, in November 2010, the company adopted a way to decrease the burden the airline adopted debt restructuring on those total 18 leading lenders, those have landed total Rs. 8,000 crores, they agree to cut the interest the rates and convert part of loan into equity. As per the contract the lenders have to convert the debt into shares which is converted into equity. Due to this company able to cut down the average interest to 11% and save Rs. 500 Crore every year in the interest cost. The use of the strategy Debt restructuring also didnt help the airline a lot; no doubt by using this it reduced the interest charges by Rs. 500 crores every year, but due to the high increase in cost and many other factors the company started faced problems of liquidity. Due to no funds available the company also faced these types of problems like delayed salary there are over 6,000 workers which are working in the company and after the financial crisis company have delayed salaries of the staff that will affect the workers a lot because they are working like the same and we can say they are working more than normal but these type of problems decrease the workers morale and dissatisfaction factor also arises. Due to the non-availability of the funds they are also many things that will effect like due fuel, Service tax, Air craft lease rental due and many more. Current Situation: Problem still continues Kingfisher airlines started to cast down into fresh crisis. Many flights are cancelled and many aircrafts are grounded. The company shut down many important international operations and closed the booking of the tickets. Kingfishers have many aircraft and only few were operating and presently very less airplanes are operating and this dropped highly in market share. Main leading State bank of India also not giving more loans to the company unless they pay the previous amount. Now a day it is very hard situation for kingfisher airlines in recent months. The service of airline provided by Vijay Mallya is not glamorous as it was previous times because many flights are cancelled when customers are waiting to departure and this will underestimate a lot to customer. The management is main issue here in the Kingfisher airlines they need some expert CEOs that help to check the activities every day but Vijay Mallya is the only one that control the whole company this may be the biggest cause of downfall of the kingfisher airlines. In big organizations lots of discussion and suggestions are needed that help to make any decision easily. This causes which disturbs the relation between the employees and Vijay Mallya because there must be some time given to each and every employee so that they feel motivated and feel their suggestions or any need of help are given by the company, this help them to stay satisfied and they work with their full effort. Vijay Mallya always kept saying that the reason behind downfall of company is that the rising fuel pricing and other factors contributed the downfall of the company. But there are other factors also. Some other reasons that also contribute to the downfall of the kingfisher airline: Sociological: Now a days traveling by plane is not a big issue because there are lot of airlines from which we can select any one according to our financial status. Every flight has its own way of treating passengers because in todays world going one place to another is not a big deal all matters how was our journey what are the experience and how comfortable are you in the whole journey. As being a 5 star airline they provide good service to the passengers but the prices are also very high only the high profile or above the economic level people adopt Kingfisher airline. Due to the luxurious level of treatment they are willing to pay more than other airlines charge. But they have to be economical so every economic person can also have the experience this type of luxurious treatment this also help them to gather more and more customers. Technological: In todays world technology plays a great role in any type of the company. Kingfisher airlines dont provide a TV screen on the back of the seat, so that every passenger has its own personal TV. Now people use technology they want to do the whole work with the help of internet and do all the work while sitting in their home. This also attracts customers to do all the booking while relaxing in their home and they dont need to stand in the long queues on the ticket counters. Economical: Now a days economic issues is a major concern because people are now check not only the luxurious treatment they also check whether it is worth going or not. There a lot of bank credit options that are available in the case of travelling this are also the reason that affects the sales of the aviation industries. In India there are lot of factors that affect the organisation like the inflation, interest rates and recession. There are government policies that effect the organisation a lot. There are lot things which have to consider while planning the economic factors because that depend a lot on the success of the organisation. Ecological: Nature also effect the aviation industry a lot because the climate affects a lot on the aviation industry weather should be stable in the time of the flights because if the climate is not good they are delayed and this disturb the customers a lot. Passengers who pay so many amounts to get good service and comfortable journey in between if something happen this disturbs a lot. If something happen like delay in the flights airline have to provide facility and accommodation for the customers this costs a lot to the airlines but they have to do for the passengers to calm them down and this help them to understand the problem and they dont take any chances to lose the customers because if the customer have any bad experience they might not go next time with the same flight because they are many others options available to them. In India weather is stable for most of the time and passengers are not use to these type of situation so aviation industry must be prepared if any thing happens. Political: In India in every 5 years government changes and also it is a democratic country. Kingfishers have great benefit of this because the owner of kingfisher Vijay Mallya have good political network which helps to their airline. No doubt, the political network is great but this not always help because all have to follow the government policies and rules. Legal: Rising Fuel pricing is also the main issue in India. The aviation industries have to pay large amount of money for fuel. To overcome this problem aviation industry increase of decrease the level of services to the passengers which help them to cover it up. Ethical: Indians are very ethical people they always think before buying anything they always check which thing is good for them and also gives some benefits to them. Like in India there a lot stationary products which are collaborated with some non-profit institute or any other institute which gives some amount when someone buy it, majority of people willing to buy that product because they help the needy people. In past Kingfisher gives value for the money that is why people are willing to give more money after all kingfisher airline is the 5 star rated airlines. Analysis: No doubt kingfisher airlines are one of the successful airlines in India. But there are lot pros and cons there which lead them to downfall of the successful airline. Pros: Kingfisher is one of the luxurious flights in India. Kingfisher is a well-known brand and the financial status of the organization is very good. The connections between the political and the owner of the Kingfisher airlines are very strong. Kingfisher has a strong relationship with parent United Breweries Group which supports them a lot. The customer service is very healthy. Kingfisher provide very luxurious journey to the passengers. The staff is highly trained and very professional with customers. Cons: The management practices are very poor and the organization structure is not formed properly. Kingfisher airline is not producing the expected returns from they are spending. Sales are getting lower and lower due to cancellation and delayed flights which customers dont like it. Due to the 5 star brand of the company it is spending more than normally which is very hard to recover the money. Things need some changes: There are lots of things which are needed to be change which help the kingfisher airlines to recover. Aviation industry is now days are very popular and competition is getting tough and tough. To successfully run the aviation industry there are many things which have to keep in the mind while successfully run the business. In Kingfisher only the owner Vijay Mallya is having the direct control on the business and due this there is problems occur. In kingfisher there is huge network and there are many employee works there and to satisfy the needs of the employee only one person cannot keep it. There must be some professionally and fully trained CEO must be hired to control whatever is the situation. Vijay Mallya also taken wrong step while cutting the salary of the employees and even the salaries are delayed for many months and according to the Herzbergs Motivator-Hygiene Model the customers are Dissatisfied because they are not getting the salary on time. In the recession period of Kingfisher airlines they also misbehaved with some customers due to the frustration and this will lose their customers. In this period the Kingfisher airlines introduced a new airline called Kingfisher red to cover some expenses because it is comparatively low cost. Once there is an incident occurs passengers booked the ticket for Kingfisher Airlines and when they come to the flight the realize that this is not Kingfisher fisher this is Kingfisher red and when the passenger asked for that then they asked that there is technical issue in the website it was not distinguishing the two airlines differently but this is not a valid reason because as I said earlier that the technology plays a great role in todays world people are now days very techno used and they know which flight they are booking. The main question is that why the kingfisher is running a cheap airline after all Kingfisher is one of the top brand 5 star airline this reduces the reputation of the airline and also misbehaving with customers also give wrong impact on them so to handle this Kingfisher airlines must be have some arrangement to handle this type of stuff. To do so experience staff is required and if any conflicts occur then handle them with care so that no passenger get upse t and feel biased everyone should be treated same. Competition also have a major issue because while competing with other Aviation airlines they have to consider so many expects that will affect the Kingfisher airlines because other airlines provide more facility and there low cost of the fare attracts the customers, But Kingfisher Airlines have to do some strategies so that they can keep their customers. Competition is not only with Aviation industry in India majority of people will go for the low cost carriers in India. Railways are also competitors because now Indian Railways are safe mode to travel and they cost very less as compared to airline. So to plan according to the budget of the airlines and equally economical to the people, trained CEOs are required to do the job done well. Owner of Kingfisher airlines Vijay Mallya also done one more thing that they only targeted the passengers that are willing to pay more than normal. They only need luxurious treatment, this is a good but in the time period of 2005 to 2008 is very easily earned money period for Kingfisher and Vijay Mallya also make so much profit then he invested money on others places like Cricket, Alcohol and many more. Due to the easy money Mallya expanded a lot their empire that is very difficult to handle and this is one of the reason which makes the Kingfisher into trouble. Kingfisher Airlines have to take following step to make things good: With lot of increase in loss of Kingfisher airlines and overdue of tax, fuel suppliers and airports and only few of the flights are working. If they want to again successfully run the business then promoters need to invest some money first then the Kingfisher airlines firstly clear the due of fuel and overdue of the tax with this money and then they should step up the ladder of success. The morale of the employees should be considered first because they are the very important to the Kingfisher airline especially the staff and pilots they should never be dissatisfied. So Kingfisher airlines should must clear all the due of the salary of the employees because due to unpaid they have to suffer and their families also suffer with them. They cant afford to lose quality pilots and if this will continue it may be happen that the plant should shut down in future. Aircrafts used in the Kingfishers used now is very less and due to the mismanagement of the staff and between the owner leads them to failure because as I discussed earlier Mallya always have the direct control of the business and may be some factors that are left which are not considered by Mallya that affects a lot to the Organization. The perception of the Owner may be somehow wrong that is why the organization structure should be clear and should be made by various talented minds that help to success of the airlines. Conclusion Kingfisher is one of the leading and successful airlines in India. The reason behind the downfall of the airline is mentioned above and there are many other factors which also the reason behind the downfall of the Kingfisher airline. The organizational structure is mainly the major concern in the Kingfisher airlines. In starting the kingfisher is at its peak at that time period is the best time to expand the business but due to the huge benefits the staff and pilots and the expenses is also become more and more and to successfully manage it many talented person are required, no doubt they have experienced staff and luxurious treatment they give to the passengers but to organize the whole staff and the airline only Vijay Mallya is having the direct control on it and this occurs misunderstanding. When the business is having great profit then we must have to more alert because when this happen the other competitors always try to get trouble so we cant make profits. Like the other competitors of kingfisher is giving more facility and the cost of other airlines are also less than it is difficult to manage for Kingfisher airlines because they are the very luxurious and the cost of the flights are also high because due to the brand name they have to treat the passengers like they are treated previously and this is very difficult to handle but this can be handled by professionals so that the passengers not feel and change but this strategy gives benefits to the airline and various strategies are required to do it. Some of them are mentioned above but the organization behavior plays a great role to manage the people in the organization. This helps the staff and employee and higher status persons and owner to successfully run the business and maintain a healthy relation between them.
Friday, January 17, 2020
Emily BronteÃ¢â¬â¢s poem, Ã¢â¬Å"Spellbound,Ã¢â¬ is evocative and emotive. Its imagery, saturating nature with vivid emotions, is unforgettable. In dissecting the poem, truly examining it for its constituent parts, one is struck by the mastery with which Bronte is able to manipulate individual words and have them gush with emotions, conjuring up images in the readerÃ¢â¬â¢s head effortlessly. In the end, BronteÃ¢â¬â¢s nature is painted as a canvass of entrapment, a majestic masterpiece of beauty that ensnares her imagination but paralyzes her body and soul. BronteÃ¢â¬â¢s first stanza establishes this motif early.NatureÃ¢â¬â¢s prominence in the poem is unmistakable as she cites the power of the night as it envelopes her. Adding to this sense of encirclement is the Ã¢â¬Å"wildÃ¢â¬ character ascribed to the winds, blowing relentlessly. The combination of these two sentiments creates a strong sense of the uncontrollable character of nature; night darkens and cannot be stop ped, wild winds cannot be tamed. This sense is only heightened in the next line as Bronte ascribes a tyrannical composition to these forces, binding herÃ¢â¬âa clear link between the burden of uncontrollable nature and her own sense of paralysis.She explicitly describes this sense of immobility in the final line of the stanza saying, Ã¢â¬Å"I cannot, cannot go. Ã¢â¬ Thus, in the first stanza, Bronte is clearly fascinated by nature, but eventually overpowered and immobilized by its unyielding power. In the second stanza, Bronte elaborates on the force of nature, ascribing an empty, lifeless quality to it that simultaneously evokes a sense of momentous serenity. The Ã¢â¬Å"giant treesÃ¢â¬ continue the large scale already created by the night enveloping her and the untamed wind. Yet those trees, like Bronte are burdened, held down by snowÃ¢â¬âperhaps an allusion to her own feeling of sagging.The sense of an ominous future is heightened even further with her description of a storm Ã¢â¬Å"fast descending,Ã¢â¬ as she reaffirms her paralysis, again saying that she Ã¢â¬Å"cannot go. Ã¢â¬ In the third and final stanza, Bronte ties the first two stanzas together. In describing Ã¢â¬Å"clouds beyond clouds,Ã¢â¬ and Ã¢â¬Å"wastes beyond wastes,Ã¢â¬ she reaffirms the crushing endlessness of nature and ties it to her hopelessness. If the world is so large, she feels small; this sentiment perhaps the source of her unmotivated lethargy. Together, the stanzas add up to a message that underscores the power of nature while also highlighting the sagging weight of its enormity.
Thursday, January 9, 2020
Teachers are always looking for ways to boost their students reading motivation. Research confirms that a childs motivation is the key factor in successful reading. You may have noticed students in your classroom who are struggling readers, tend to have a lack of motivation and do not like to partake in book-related activities. These students may have trouble selecting appropriate texts, and therefore do not like to read for pleasure. To help motivate these struggling readers, focus on strategies that will help spark their interest and boost their self-esteem. Here are five ideas and activities to increase your students reading motivation and encourage them to get into books. Book Bingo Motivate students to read a variety of books by playing Book Bingo. Give each student a blank bingo board and have them fill in the squares with some of the suggested phrases: I read a mystery bookI read a funny bookI read a biographyI read an animal storyI read a book about friendship Students can also fill in the blanks with I read a book by..., or I read a book about... Once they have their bingo board labeled, explain to them that in order to cross off a square, they must have met the reading challenge that was written(Have students write the title and author of each book they read on the back of the board). Once the student gets bingo, reward them with a classroom privilege or a new book. Read and Review A great way to make a reluctant reader feel special, and motivate them to want to read, is by asking them to review a new book for the class library. Have the student write a brief description of the plot, main characters, and what he/she thought of the book. Then have the student share his/her review with their classmates. Thematic Book Bags A fun way for younger students to boost their reading motivation is to create a thematic book bag. Each week, select five students to be chosen to take home a book bag and complete the assignment thats in the bag. Inside each bag, place a book with theme-related contents in it. For example, place a Curious George book, a stuffed monkey, a follow-up activity about monkeys, and a journal for the student to review the book in the bag. Once the student returns the book bag have them share their review and activity that they completed at home. Lunch Bunch A great way to pique your students interest in reading is to create a reading lunch bunch group. Each week select up to five students to participate in a special reading group. This entire group must read the same book, and on a determined day, the group will meet for lunch to discuss the book and share what they thought about it. Character Questions Encourage the most reluctant readers to read by having them answer character questions. In the reading center, post a variety of character pictures from the stories your students are currently reading. Under each photo, write Who am I? and leave space for children to fill in their answers. Once the student identifies the character, they must share more information about them. Another way to do this activity is to replace the photograph of the character with subtle hints. For example His best friend is a man in a yellow hat. (Curious George). Additional Ideas Enlist parents to come in and be a mystery reader.Participate in the Pizza Hut Book-It program.Have a Read-a-Thon.Pair students together with a book buddy.Play Name That Book where students have to guess the title of the book you just read to them.
Wednesday, January 1, 2020
Like any other religion, Hinduism has sacred religious texts, one of them happens to be called the Bhagavad Gita or as it translates to English Ã¢â¬Å"The Song of GodÃ¢â¬ . The Bhagavad Gita provides its readers with principles to follow and explanations of what the standards for good Hindus are. The Bhagavad Gita is an exemplary text that gives examples as to what we should do a righteous people and it also shows life lessons that can sometimes shape our thinking to make better decisions. All the teachings and lessons that are presented in the Bhagavad Gita are shown as the main characterÃ¢â¬â¢s understanding and opinions when he is asked about current issues at the time this was written. One of the teachings of the Gita, in Chapter 1 is about how sometimes we take decisions based on our own ambitions and we disregard otherÃ¢â¬â¢s input without even considering the consequences of our doings. Arjuna was so eager to fight and experience a war that he forgot that his family members were part of the warriors that would fight it. Seeing what a mistake he had made by instigating two sides two fight, every outcome that could possibly happen after his family members died came to mind. Sometimes we realize our mistakes and wrongdoings too late, when none of our action can be undone, and we would want to go back in time to fix it but it is impossible to do so. As Arjuna says, it is not worth it to hurt the people we love over materialistic things. Arjuna to Krishna: Ã¢â¬Å"What is this crime I am planningShow MoreRelatedThe Bible Vs The Bhagavad1119 Words Ã |Ã 5 PagesThe Bible Vs The Bhagavad The Bible Vs The Bhagavad are the sacred books of Christians and Hindus respectively. There are several similarities as well as differences found between these the bible text and the Bhagavad text. The Bhagavad Gita is often called as the Bible of Hindus. The similarities between them can be analyzed from the facts that Bhagavat Gita and the Bible has emphasized on the love for man. The texts from both Holy books indicate the fact that God says that he loves those who loveRead MoreThe Innocence Of Simple Observation1750 Words Ã |Ã 7 Pages(youtube.com). Maharshi concentrated his teachings on self-inquiry as the way to unite with the transcendent Self. His teaching falls into two parts (a) power of knowledge together with the ecstasy of devotion and (b) poetry and prayers Ã¢â¬â nature of god, the mind, nature and the individual. He asserts that self-surrender is the same as self-knowledge so that we should surrender and give our self up to the original cause of oneÃ¢â¬â¢s bein g. Ã¢â¬Å"OneÃ¢â¬â¢s source is within oneself. 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The ancient Sanskrit text is a seven hundred verse text that tells readers that in order to achieve nirvana, or eternal peace, one must rid themselves of evils and sins, selfishness and greed, and attractions. The Hindu god Krishna tells the Indian Prince Arjuna, that one must surrender to the god incarnates will in order to reach nirvana. WhenRead More The Historical Context of The Bhagavad Gita and Its Relation to Indian Religious Doctrines2505 Words Ã |Ã 11 PagesThe Historical Context of The Bhagavad Gita and Its Relation to Indian Religious Doctrines The Bhagavad Gita is perhaps the most famous, and definitely the most widely-read, ethical text of ancient India. As an episode in Indias great epic, the Mahabharata, The Bhagavad Gita now ranks as one of the three principal texts that define and capture the essence of Hinduism; the other two being the Upanishads and the Brahma Sutras. Though this work contains much theology, its kernel is ethical and itsRead MoreKrishna And The Teachings Of Hinduism1322 Words Ã |Ã 6 Pagesseen as polytheistic but in its true nature it is actually monotheistic. It is explained that there are different gods for different aspects of life but there is essentially only one main god in the religion in Hinduism (32). That one main god is Brahman (33). Brahman is behind all of the gods. One aspect of Brahman is Krishna. This essay will be focusing on Krishna. In the Bhagavad Gita, Krishna reveals himself to be practically everything while teaching others how they can rescue themselves fromRead MoreHindui sm Is A Monotheistic Religion1369 Words Ã |Ã 6 PagesReligion is a combination of beliefs, ceremonies and set of rules used to follow god or group of gods. I myself belong from a monotheistic religion, known as Islam. Islam is second largest religion in the world. Islam is revealed through Mohammad as a prophet of god. 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Tuesday, December 24, 2019
Essays on Bonds,Bonds Rating, and Types of Bonds Essay Bonds and their Ratings Bonds and their Ratings A bond can be defined as a financial instrument that indicates indebtedness of the issuer to the bond holder, the former being obliged to repay the principal plus accumulated interest over a certain period (Maeda, 2009). A bond is therefore a type of debt security. Bonds are usually issued by corporate bodies or the government to investors. Often, they are used by the government to obtain finances for various activities or projects. The bond issuer is required to define the terms or repayment and the interest rates to be paid to the bond holders. A maturity date is also identified which is basically the principal sum ought to be repaid. Prior to issuance of the bonds, rating has to be carried out and a rating awarded. Bond rating is necessary as it enables the holder to know the ability of the issuer to pay the coupons and principal in a timely manner or as agreed. At the time of issuance, coupon rates (interest rates) as well as other obligations such as maturity date have to be defined and agreed upon by the issuer and the holder. Bonds ratings are carried out majorly by three agencies; Standard PoorÃ¢â¬â¢s (S P), Fitch Ratings and MoodyÃ¢â¬â¢s Investors Service (Maeda, 2009). By analyzing various statistical aspects, letters which indicate ratings are assigned on the bonds. For instance, S P, MoodyÃ¢â¬â¢s and Fitch designate bonds as follows. FITCH MOODYÃ¢â¬â¢S S P RATING DESCRIPTION AAA Aaa AAA Extremely strong in making repayments AA+, AA AA- Aa1, Aa2 Aa3 AA+, AA AA- Very strong A+, A A- A1, A2 A3 A+, A A- Strong BBB+, BBB BBB- Baa1, Baa2 Baa3 BBB+, BBB BBB- Adequate BB+, BB BB- Ba1, Ba2 Ba3 BB+, BB BB- Less vulnerable B+, B B- B1, B2 B3 B+, B B- More vulnerable CCC Caa CCC Currently vulnerable CC Ca CC Currently highly-vulnerable C C Currently highly-vulnerable D C D Evidence of failing to pay Above: A table showing various ratings and their descriptions. There are a variety of bonds available to holders, each with differing term agreements, coupon rates and other characteristics. The following are the various categories of bonds. Treasury bonds These bonds are also known as government bonds. This is because they are bonds issued by the federal government. Treasury bonds are categorized as risk free bonds. They are not exposed to any risks such as call risk and credit risk. Their returns, although minimal compared to other bonds is guaranteed by the federal government (Maeda, 2009). Municipal bonds These bonds are issued by the local government, state, a city or their respective agencies. A distinguishing characteristic of these bonds is that their returns are tax exempt from the federal government. In addition, they may also be exempted from taxation by the local governments (Maeda, 2009). Zero-coupon bonds A major characteristic of these bonds is that they do not pay interest on a regular basis like other bonds. However, holders are usually given a huge discount par value. The holder therefore receives a huge bonus at maturity which includes the interest. Convertible bonds These are bonds that can be exchanged for other securities such as shares of stock. This can only be done at the option of the bondholder provided that the shares of stock are issued by the bond issuer. This is an extra feature added by corporations to make debenture bonds less risky in nature. These bonds usually exhibit a stipulated conversion bonds (Maeda, 2009). High-yield bonds These are also known as junk bonds. These bonds pay a high level of interest although they are categorized as high risk. The rating of these bonds falls below the investment grade. Fixed rate bonds These types of bonds pay a fixed rate of interest throughout the period and before their maturity period. Fixed rate bonds may lose value in case of high inflation rates. Collable bonds These types of bonds can be bought back before maturity date by the issuer, a scenario common some of preferred stocks. Companies are allowed to exercise this right in situations where current interest rates obligations are higher compared to a scenario where it would issue new bonds at a lower interest (Maeda, 2009). Mortgage bonds The issuer of these bonds pledges property as a guarantee to the bondholder that all payments will be paid. Failure to make the payments, the bondholder has the legal right to acquire the property under the pledge. Subordinate bonds These are bonds that are given lower priority by the issuer in making payments compared to other bonds during liquidation. For example, in case the issuer is declared bankruptcy, some creditors holding senior bonds are paid first (Maeda, 2009). Exchangeable bonds These are a type of bonds that give the bondholder a right to exchange them for stock of another company under certain terms. In most cases, the issuer may have a stake in the other company or it may be a subsidiary (Maeda, 2009). Reference Maeda, M. (2009). The complete guide to investing in bonds and bond funds: How to earn high rates of return--safely. Ocala, Fla: Atlantic Pub. Group.