Home Foreclosures: Will Voluntary Mortgage Modification Help Families Save Their Homes? Part II? : Hearing Before the H. Comm. on the Judiciary Subcomm. on Commercial and Administrative Law, 111th Cong., Dec. 11, 2009 (Statement of Associate Professor Adam J. Levitin, Geo. U. L. Center)

The results to date from MHAP are deeply disappointing. Even the most optimistic view of HAMP and HARP’s potential would now project the programs as having only a minor impact on the foreclosure crisis. Until and unless the problems of unemployment; negative equity, and servicer capacity, incentives, and contract restrictions are addressed, we are unlikely to see noticeably different results. These issues cannot be addressed within the current structure of HAMP. Unfortunately, none of the solutions for foreclosures due to unemployment are particularly satisfying, and without addressing unemployment, foreclosures will remain at elevated levels. Bankruptcy presents possible solutions to negative equity as well as to servicer-side problems of capacity, incentives, and contractual restrictions, as it removes servicers from the modification business. A bankruptcy solution is not a silver bullet that will end the foreclosure crisis, but if negative equity and servicer-side problems can be successfully addressed, it will result in significant progress in foreclosure mitigation

On the Role of Entrepreneurial Experience for Start-up Financing: An Empirical Investigation for Germany

Entrepreneurs are often faced with problems regarding start-up financing. But compared to novice entrepreneurs, experienced entrepreneurs should have both more knowledge and better contacts, which should potentially reduce the occurrence of problems and affect finance composition. However, experience of business failure might result in additional effects. This analysis therefore investigates the effects of experience on several aspects of start-up financing. It is based on data from the KfW Start-up Monitor, a representative annual survey of the German population. The results show that experience affects several financing issues. Yet the impacts depend on the kind of experience. With regard to previously failed entrepreneurs, who are of particular interest, the findings indicate that they cut back their financing demand and are more likely faced with problems satisfying this demand. However, previously failed entrepreneurs do not significantly differ in the sources they use to finance their businesses. --Entrepreneurial experience,restart,start-up financing

On the Role of Entrepreneurial Experience for Start-up Financing: An Empirical Investigation for Germany

Entrepreneurs are often faced with problems regarding start-up financing. But compared to novice entrepreneurs, experienced entrepreneurs should have both more knowledge and better contacts, which should potentially reduce the occurrence of problems and affect finance composition. However, experience of business failure might result in additional effects. This analysis therefore investigates the effects of experience on several aspects of start-up financing. It is based on data from the KfW Start-up Monitor, a representative annual survey of the German population. The results show that experience affects several financing issues. Yet the impacts depend on the kind of experience. With regard to previously failed entrepreneurs, who are of particular interest, the findings indicate that they cut back their financing demand and are more likely faced with problems satisfying this demand. However, previously failed entrepreneurs do not significantly differ in the sources they use to finance their businesses. --Entrepreneurial experience,restart,start-up financing

THE FUTURE OF THE JAPANESE MARKETING

It should not be surprising that Japanese marketing practices vary from traditional Western marketing practices, because marketing is the process of satisfying wants and needs and these desires vary tremendously among cultures. In fact, it would have been surprising if differences were not seen because, in many aspects, the American culture and the Japanese culture are practically diametrical opposites. Of all the business disciplines, marketing is by far the most culturally sensitive. The critical questions most Japanese ask are not "Am I making any money?" or, "How much money am I making?" but rather, "Am I a leader in my business?" "How do I compare with my competitors?" "What must I do to survive in the 21st century?" Technological self-sufficiency, market share, and industrial rank (status) are the key phrases in Japanese business practices. The Japanese system of decision-making imposes a predisposition to enter new technologies to keep up or gain an advantage on competitors. The Japanese undertake a research project not because it will solve a particular problem, but because it may contribute to solving a number of seemingly unrelated problems. Americans, in contrast, are more narrowly focused.japanese marketing, japanese culture, american culture, decisionmaking

Corporate Social Responsibilities of Multinational Companies

International business consists of transactions that are devised and carried out across the national borders to satisfy the objectives of individuals and organizations. Today, almost all companies are affected by Global events and competition. The increase in competition among the multinational companies to gain first mover advantage in various countries by establishing goodwill relations with both the state and the civil society. Being a socially responsible multinational company means not only fulfilling the legal expectations, but also going beyond such as investing more in human resources and facing the environmental problems and also satisfying the stakeholders . The social responsibilities are divided into two heads namely internal environment responsibilities and external environment responsibilities. By practicing the social responsibilities in international business, the multinational corporations will not only get more profit but also they can maintain their goodwill ands retain their business position for a long term survival

On the Role of Entrepreneurial Experience for Start-up Financing: An Empirical Investigation for Germany

Entrepreneurs are often faced with problems regarding start-up financing. But compared to novice entrepreneurs, experienced entrepreneurs should have both more knowledge and better contacts, which should potentially reduce the occurrence of problems and affect finance composition. However, experience of business failure might result in additional effects. This analysis therefore investigates the effects of experience on several aspects of start-up financing. It is based on data from the KfW Start-up Monitor, a representative annual survey of the German population. The results show that experience affects several financing issues. Yet the impacts depend on the kind of experience. With regard to previously failed entrepreneurs, who are of particular interest, the findings indicate that they cut back their financing demand and are more likely faced with problems satisfying this demand. However, previously failed entrepreneurs do not significantly differ in the sources they use to finance their businesses

Feasibility study on utilization of palm fibre waste into fired clay brick

Malaysia is the second largest of palm oil producer after Indonesia, which contribute to 50 % of palm oil production. With this demand, the increasing of palm oil plantation over the years has led to the large production of agricultural waste, for example palm fibre waste. This study investigates different percentages of palm fibre (0 %, 1 %, 5 % and 10 %) to be incorporated into fired clay brick. Manufactured bricks were fired at 1 °C/min heating rate up to 1050 °C. The effects of manufacture bricks on the physical and mechanical properties of manufactured brick were also determined. All brick samples were tested due to the physical and mechanical properties which include dry density, firing shrinkage, initial rate of suction (IRS), water absorption, porosity and compressive strength. Findings show that increasing palm fibre waste affected the properties of brick, which decreased their density, besides increased firing shrinkage, IRS, water absorption, porosity and compressive strength. However, all the manufactured brick still followed the requirement

The performance of modified jatropha-based nanofluid during turning process

The industry's extensive use of petroleum-based metalworking fluid (MWF) harms the environment and humans. The production of bio-based MWF, especially from crude jatropha oil (CJO), has therefore taken numerous initiatives. This aimed to formulate newly modified jatropha oil (MJO) with the addition of 0.05wt.% hBN and 0.05wt.% MoS2 as the nanofluid for MWF. The performance of the nanofluids was determined through the turning process in terms of cutting temperature, workpiece surface roughness, tool life and tool wear of the tool lubricated by the nanofluids. The performance of the nanofluid samples was compared with the synthetic ester (SE). From the results, after conducted 100mm axial cutting length MJO+hBN+MoS2 recorded the lowest in cutting temperature and surface roughness compared to all samples. The result shows that MJO+hBN+MoS2 has longer tool life (6500mm) compared to SE (6000mm). Abrasion and adhesion were observed as the dominant tool wear mechanism. In conclusion, MJO+hBN+MoS2 shows better machining performance and has the potential to be an environmentally friendly metalworking fluid

Minimal time problem for discrete crowd models with a localized vector field

In this work, we study the minimal time to steer a given crowd to a desired configuration. The control is a vector field, representing a perturbation of the crowd velocity, localized on a fixed control set. We characterize the minimal time for a discrete crowd model, both for exact and approximate controllability. This leads to an algorithm that computes the control and the minimal time. We finally present a numerical simulation