Revelation

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According to BusinessDictionary.com, the definition of Price Effect is: The impact that a change in value has on the consumer demand for a product or service in the market. The price effect can also refer to the impact that an event has on something's price. The price effect consists of the substitution effect and the income effect. This means that the price of items directly correlates with the consumers demand, as we learned in class, but it also shows that goods are better to buy at times that the consumers aren’t demanding it. I’ve found out over personal experience and research that my overall research question, isn’t really a question at all, it’s more just common sense when you take the time to just think about it. I mean, everyone wants, let’s say, sweatpants for winter, so sweatpants retailers will bump up the price because they know people will buy them. Then, once the craze sort of blows over, they lower them back down because no one's gonna buy them at that price anymore, and that would be the perfect time to buy them. Advertising plays a big role in this process as well. Companies would advertise sweatpants during the prime sweatpants season and make everyone think that they need to get it. Even when they have sales, sometimes they increase the price then add the sale to keep it at what it was before while tricking the buyer into thinking there is a sale. This leads into my next topic, Do sales really save you money, and are you really buying a worthwhile product. I plan to look into sales, Black Friday For example since it is coming up this week.

Noble Noble Laureates

SOURCE: https://upload.wikimedia.org

The Nobel Prize is known as the highest distinction for a person's achievement. Received by many famous historical figures, the Nobel Prize is given to people who truly make an impact on the world. The Nobel Prize in Medicine is given to those who make an impact on the world with a breakthrough in some kind of medical field. This year, the Nobel Prize in Medicine was awarded to three people for their advancements in making anti-parasite drugs. One of the three people awarded with this honor is Youyou Tu. She was given this award for her advancement in the treatment of Malaria. She did this in a way that is not usually seen in common medicine. In the article Anti-Parasite Drugs Sweep Nobel Prize in Medicine 2015 it goes over how Dr. Tu made such a revolutionary discovery regarding parasite medicine.


Many people are familiar with traditional medicine. The idea that remedies such as rhino horns or herbs can cure disease. Many people write off these medicines as bogus but Dr. Tu proved this to be wrong. In earlier days, treatment for malaria were showing to be even more inefficient. Dr. Tu went back to her roots, literally, and researched over 2,000 Chinese herbal remedies to find a treatment for malaria. One of the herbal remedies for this was an extract from wormwood. This extract was found extremely effective in treating malaria.Tu, who made this groundbreaking discovery, has herself been surrounded by some controversy as this is the first reward she has been given in China and she has not been elected to any major academic board. But her colleagues all agree that she truly deserves this award. She has dedicated years of her life to this research and it's really starting to pay off. While she is getting critical acclaim around the world, she's being critically accused within China. But, despite that, the research she's doing in proving to do some good. The drug she derived from the wormwood tree is being distributed helping those who truly need treatment for malaria.


So, the discovery made by Dr. Tu is doing a serious amount of good. The drug itself is being distributed around the world to people who are being seriously harmed by malaria. While one might think that this drug might not be able to reach those who really need it (those in Africa and other impoverished nations) but the contrary proves possible. The drug, made possible by Tu, is being distributed around the world by organizations like Doctor's Without Borders and UNICEF. In the end, the discoveries made by Dr. Tu will help many people who need it.

Don't Force the Next Michael Jordan

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My childhood was always involved with sports and  exercise. Whether this was playing basketball at a friend’s house, playing soccer or football at recess, or taking tennis lessons. I found intense sports to be very fun so I was naturally inclined to playing many sports competitively. I played soccer for a few years and I was quite good, but my family and Lithuanian family friend group played tennis. My surroundings motivated me to play tennis and I seemed to like it just as much as soccer. My parents began pushing me to play more tournaments and I soon became very stressed. I found tournaments to be very stressful at first but as I won more matches, I gained more confidence. 12 years later I still enjoy the sport of tennis as well as the competitive aspect. A MSNBC contributor named Jacqueline Stenson interviewed a few doctors in order to research the affects parents have on their athletes in her article “Pushing too hard too young” . I think that some parents push their children too hard and their children tend to lose the fun they had when playing a sport. Competitive sports become more stressful than they already are to children that have parents that push them too hard.

What some parents don’t understand is that their kids must become the next Michael Jordan or Roger Federer on their own. This means that children must develop the passion for the sport and the motivation to improve without their parents forcing or pushing them to do so. “Parents who live vicariously through their children can be problematic” (Stenson). It’s good for children to dream of participating in the Olympics, but parents that force their kids into playing a sport can cause their children to lose interest. Parents need to stop pushing their children into playing a sport they hate and encourage them to play a sport they like. “Parents -- and coaches -- who push too hard too young, particularly when they emphasize winning above all else, can easily wipe out a child’s motivation to play, says Dr. Henry Goitz, chief of sports medicine at the Medical College of Ohio in Toledo” (Stenson). I have had coaches that have only thought about winning and never about my satisfaction. These coaches become my least favorite very quickly because they made tennis seem as though it was only meant to be played to win. This can happen to many kids and lead to kids quitting a sport. Sports provide healthy lifestyles, ways to cope with stress, entertainment, and ways to make friends and bond with others. Parents and coaches, don’t push kids to lose these benefits.

I plan on researching in the future how competitive sports can negatively affect the everyday well-being of someone.

Understanding Market Trends

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Much like life, the stock market is always changing and only the best people understand it. Understanding market trends is one of the most important things when investing. Understanding market trends can be the difference between success and failure in the investment world. Especially for rookies to the stock market, learning market trends can dramatically change one's investing style. Market trends can change because of a variety of different factors. Some have nothing to do with how the company is performing, rather a company's stock can drop because a CEO has to go to the hospital because of a heart attack. Considering that this still happens today means that CEO's can't tell their employees their status of how they are feeling. Another factor that can cause a company's stock to drop is their quarterly performance reports. Investors like to look at the balance sheet of a company's stock at the beginning of every quarter and look at their liabilities and profits. From there magazines and newspapers report on how that company has done in the past quarter, making the price of the stock rise or fall.

After reading this article, I learned much more about investing and have a much stronger understanding of what type of analysis needs to be done before investing in a stock. I learned a variety of different vocabulary that can help investors further understand the market. The first term is a primary market. A primary market is an industry that lasts for only one to three years, but has the largest margins for profit. The second term is a secular market. A secular market is almost identical to a primary market, however it lasts for ten to thirty years and increases at a more gradual rate. Secular markets make great long term investments and have proven to be stay profitable for a long duration of time. The final thing I learned, and the most important thing, was how to calculate the ROC of a company. ROC or rate of change, has a common formula that can be used to analyze a company's performance after a span of 10+ days to see if they can continue to perform in the same direction. The ROC equation is represented as...


ROC = 100(Y/Yx)

Y= Current price
Yx= Price 10+ days prior

Personally I think that when these market trends are further understood, it's easier for an investor to see what stocks can change the market. This only shows that doing research is necessary for any type of investing, rookie or professional.

Money to Growth

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In my community most kids my age take their status for granted and don’t fully realize how lucky we are to be where we are today. Children that have wealthy parents are bound to do better in school and therefore in their future lives than those who are less affluent. Research done by the Joseph Rowntree Foundation - a social policy and research charity - found that “Children in lower-income families have worse cognitive, social-behavioral and health outcomes” What this could mean is that from the beginning, if a child’s family doesn’t have a lot of money, they are already at a disadvantage in regards to their future success. Unicef found that “Low income affects direct measures of children’s well-being and development, including their cognitive ability, achievement and engagement in school, anxiety levels and behavior.” Not only are poorer families not able to supply a child with a better education, but the child’s mental well-being is directly affected as well. Because of a child's low economic status it could inhibit a child's opportunity to pursue professional career with higher skill levels.


For future research I plan to examine how a child's involvement in extracurricular activity impacts their future life. As a violinist who play's in the Chicago Youth Symphony Orchestra, it is my own belief that certain extracurricular can benefit a child's future growth.

Back to basics: McDonald's presenting a fundamental approach to fast food

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             For years McDonald's has been at the helm of fast food industry due to their inexpensive, quality food. However, the luxury of getting a burger on the run is a fad that has seen its end in an age where subway and Chipotle control the fast food market. McDonald's has began a transition to an intensive approach that includes table service and a thicker patty. In the article "McDonald's Beefs Up Its Range with a Meatier Mac" author, Saabira Chaudhuri, discusses the businesses new approach to fast food. 

            McDonald's has began testing in the UK with a sirloin burger, a new menu item most notably different for its bigger bun and thicker patty. The food giant aims to answer to growing concerns over competitors whom have experienced great success in Europe for its larger quantity meals. The new sirloin burger is 30 percent thicker than that of a traditional patty, yet costs more and takes more time to prepare. To understand the motive behind this sweeping change, one must understand what is going on within the McDonald's corporation. In March of 2015 McDonald's hit the lowest profit margin its seen in the past 5 years. compared to March of the previous year, McDonald's had seen a 4.36 percent drop in margin to a staggering 13.62 percent. Leaving shareholders worried, McDonald's corporate had to make a change to their system. Following the all-day breakfast campaign, McDonald's saw a 2.9 percent revenue increase and opened 82 stores in the US alone. The change in the thickness of the patty is a logical approach to a renovated business structure. The change comes in a series of changes likely to be rolled out in the next 3 years with the focus on improving quality and the customer experience. 

  

          As I have discussed in my previous posts, McDonald's is struggling to provide a healthy, cheap option that is enticing to the customer. An increase in quality means an increase in price, which will lead to less prevalence among the lower class; bringing the opposite output McDonald's intended. McDonald's has been working to improve the burger chain's food quality, customer experience, employee benefits and brand image in the U.S, where McDonald's has struggled. Their efforts seem to be paying off, for McDonald's reported last month its first quarterly increase in two years in sales at U.S. restaurants open at least 13 months. It will be interesting to see how the public responds to the new approach. 

In my next post I will summarize the how the workers affect the output of the corporation and the effects government regulations has had on success abroad. 

Exploitation of College Athletes

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The professional athletes in America are some of the best players in the world, but then why do people prefer watching college sports?  More people enjoy watching college football on Saturday than watching the NFL on Sunday.  That’s strange because the NFL is a mixture of the best college players.  What’s even stranger is why those college athletes aren’t paid.  College sports is a billion dollar industry, just like other professional sports in America, but the players don’t see a penny of that revenue.  The players get money for scholarships and that’s about it.  College players should be paid for all the work and time that they put in and for all the money they bring in.    

Fans against paying college athletes always say that they are student athletes and student comes first for a reason. They are students, but they aren’t treated like students.  In an article written by Brian Frederick he says, “If a student-athlete is hurt or unsuccessful, the coaches and administrators suddenly discard the noble ideals of "education" and a player is left with nothing”.  The colleges get rid of that student athlete in a blink of an eye, but why?  I thought that they were students first and if they truly were student athletes they would still be in those schools.  Most athletes that suffer career ending injuries get their scholarship revoked and they drop out of school.  Those athletes are playing sports at the risk of a major injury and they might lose their education and future because they were working for free.  

The athletes bring in too much money to not get paid.  They make these schools rich and the school’s exploit these athletes.  The players deserve the money because they aren’t taken care of.  The players receive no support with medical bills and they need the money.  The players can be making thousands, maybe even millions of dollars playing college sports, but they don’t because they aren’t considered professionals. Why should these athletes stay in college? They can go pro and sign the big contracts and big endorsement deals and that's what I'll talk about in my next post.

College athletics draws a big crowd because of the style of play.  Some of the stadiums seat 80,000 plus and they sell out every game.  With the big crowd is a lot of hidden costs. People don’t realize that they are bringing in money from so many places.  Another writer in the debate on paying college athletes, Bobby Rush, said, “Without them, we wouldn't have millions of fans buying tickets for games and subscribing to expensive cable and satellite sports television packages, corporate sponsors purchasing luxury suites and boxes in college arenas and stadiums, or consumers paying top dollar for sports paraphenelia, and jerseys.”  All those factors bring in millions of dollars for the school and the players see none of the money.  Another hidden cost is the amount of students that come to the school because of good athletics.  Students want to go to a school with a winning tradition, so they attend football powerhouses and this makes the school even more money.

40s and 50s Boxing

As discussed in the previous blog post, Boxing grew significantly in popularity during the Great Depression. The economy was in a much better state, which could potentially lead to more profitability for the sport too. However, the U.S. was soon engaged in World War II.

In this brief essay I will examine how these wars benefited boxing through the advancement of technology and as it served as a form of distraction and entertainment from the tense situation. I will analyze numerous articles as well as provide historical examples of world-renowned boxers and share their opinions on the topic. All of this will help me in determining how these wars and this overall time period affected the profitability and popularity of boxing in the U.S.

Raging Bull

The popularity of boxing was higher than ever following the Great Depression and the profitability of the sport was quickly catching up given the recovering economic situation. Fighters such as Jake LaMotta and “Sugar” Ray Robinson brought in thousands of spectators per fight and inspired young children. Boxing and baseball were once again the two biggest sports in the U.S. during this time. According to the article “History of Boxing in the 1950s” by acclaimed boxing journalist Scott Levinson, “Boxing all over the world, but particularly in the United States is tied to economics. The more disadvantaged groups have typically provided the best boxers. As the complexion of the ghetto changes, so does the sport of boxing. The 1950s were the last era where a vast amount of  Jewish, Irish, and Italian fighters truly thrived in the states. [...] The 50s introduced the beautiful partnership between boxing and television. Perhaps the best sport to watch on TV, boxing saw unprecedented exposure during this time. Regularly shown fights, such as the Gillette Cavalcade of Sports, allowed fans to watch their heroes for free. This was a crucial turning point in the history of boxing. Exponentially more people watched fights. It provided a steady stream of fans and revenue to a sport that previously thrived only as a live attraction. There were no closed-circuit events at the time and no pay-per-view, enabling anyone with a TV to watch the best fighters in the world.” 

Because of the access people had to view boxing matches, the sport grew greatly in popularity during this time period too. This new found access is largely related to the television and watching fights at home on a screen rather than simply listening to them on a radio. Rocky Marciano, my personal favorite fighter and the only Heavyweight World-Champion to retire undefeated, also attracted people to the sport winning 42 of his 49 fights with a KO. Because of the entertaining nature of the fights and the television, boxing popularity and profitability were still on the rise in the U.S.

In the next blog I will research what caused the eventual downfall of the sport as well as some of the key fighters and promoters that are responsible for this.

Humans versus Robots

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                                   Technology changes with time, but as technology changes and we become more developed as a society, our views and perspectives of everything we do also change. It is almost as if the more technology a society has, the more and more it fluctuates. With me being somewhat of a tech-junkie and a business student, understanding how technology affects us as a society is something that I find not only interesting, but also has the potential to benefit me further down my career path. Specifically, robots can help people with exploring space and planet Earth. 

 Relative Costs of Robotic versus Human Missions: "Humans are wonderful tools, but they are also expensive tools. Generally, the more mass we launch into space the more costly a mission. Human missions require more mass than robotic missions because we must carry our food, water, and environmental support systems. Unlike machines, humans cannot be put into sleep states for weeks or months to decrease consumable use. For most operations humans want to remain in an environment warm enough for only needing shirtsleeves. Also it is usually necessary to have airlocks and space suits for astronaut egresses. Egress is the word we use for astronauts leaving a spacecraft and going outside. All of these elements add mass, and consequently, cost. Costs are also added because the safety standards for human crews are higher than for robotic devices."

My analysis: Therefore, we can use robots or other technology to prevent loose human life for example in mass launch into space have risky, we also need air, resources for live like  food water. But robots doesn't need anything like, and it can also work with out any rest this so we can research more and more about space. 

Human Exploration:"The exploration of space is not the activity of an individual but a cooperative effort by many elements of society. It gives back to that society a sense of accomplishment, international prestige, a sharing of the excitement of exploration and new frontiers, a set of goals for future generations, advances in technologies, and the economic benefits of commercial uses of new technologies. To a lesser degree this is true of all space exploration, but it is most prominent when humans are involved. Space exploration in the early twenty-first century requires the commitment and resources of a government and the political considerations and agreements that this entails. Thus the decision to use humans is often dominated by societal issues. One motivation for society deciding to explore space with humans is simply the excitement we all share for that exploration."

My analysis: This shows that robots are costly now but in future it can be sell in malls like Walmart, Target . Advance technology can help sharing of new exploration and new frontiers to set a goal for future generation. human society have social issue of  space exploration in the early twenty-first century requires the commitment and resources of government and the political considerations and agreements that this entails. Thus the decision to use humans is often dominated. It can only fixed by future technologies for example ,One motivation for society deciding to explore space with humans is simply the excitement we all share for that exploration. what if we switch place human with robot for space research.

Synergistic Robotic-Human Exploration: "Once it is decided to use humans in a particular exploration task, the next question is how machines, including robots, are used to make tasks easier, safer, more effective, and cheaper. Each specific exploration goal leads to different answers to this question. For example, if we are robotic ally setting up a Mars or lunar base prior to human arrival, then the specifics of what robots and how they are used depends crucially on the details of those habitats.          The robotic augmentation of humans is a recurring theme in science fiction. For example, astronauts donning an exoskeleton suit to augment their strength, as the character Ellen Ripley did in the movie Aliens, is a non-invasive human augmentation that will probably be available in space missions in the not too distant future. As we explore our solar system we will first send our robotic machines and then explore ourselves. And as we go about exploring space ourselves it will always be in a partnership with robots. The goal is to use robots to make space exploration easier, safer, more effective, and cheaper. The answer to the question of whether to send robots or humans is "both" and each at their proper time."

My analysis:The robotic augmentation of humans is a recurring theme in science fiction. For example, astronauts donning an exoskeleton suit to augment their strength, as the character Ellen Ripley did in the movie Aliens, is a non-invasive human augmentation that will probably be available in space missions in the not too distant future. Future robot technology can help to prevent human lives as well as research.

Media Contributions to Sport's teams success

How does Professional Sports team’s success rely on media contributions?

 

https://www.boucherco.com/social-media-audit-major-league-baseball/

          

              Main Factors: the media plays a large role in contributing to a team’s success because of its ability to inform people on upcoming games.

                               

                Every day when we turn on the T.V. whether it’s to watch our favorite show, Espn Sports, or the Food channel, we always run across commercials where the media is working their best to show news or important announcements. In sports, especially when watching popular sport’s show like “ESPN First Take”, “Pardon the Interruption”, or “Around the horn”, there are always commercials on upcoming games for so-called “Primetime” games, which are games that are nationally broadcasted. There are some teams that are more fortunate to others that are granted more nationally viewed games, which allows those teams to be nationally recognized through commercials about the upcoming game and the game itself.

         In the article "http://www.teachpe.com/gcse_society/media.php" , the positive affects media has on sports is determined through key variables. In order for the media to be involved within the promotion of the sports teams and popular, nationally broadcasted games, it must take in part by showing and announcing to people the game in every way possible. One of the most popular ways the media views sport’s teams is through the T.V. and radio. Through the T.V. and Radio, people are able to watch mostly all games and competitions. Other popular ways the media is able to promote sports to people is through the internet, including popular websites like “ESPN.com” or “Fox Sports”, magazines, including popular subscriptions like “Sports Illustrated” or “Golf”, and newspapers, including popular columns like “Chicago Tribune Sports” or “Atlanta Sports”. Through these key ways of promotion, the media is able to help sports teams make large amounts of money through media companies paying the rights to show a sporting event. 

Ultimately, the most valuable effect the media has on different sport’s teams is inspiration. The media is able to bring sports to people that may not normally have a chance to experience a sports game. Once people are introduced to watching a sport’s team, they are usually inspired then to become a fan and follow their favorite team. Fan support is crucial in helping all ends of a franchise organization. The more fans a team has, the better it is for their organization which helps their team out financially and on a success rate, and it all starts with the media’s ability to contribute and promote sport’s teams and games to people.

The media is shown to affect all sides of team’s success. Without the media to promote and portray news regarding a sport’s game for a team, people would not be informed, leading to less fans in a team’s organization. Ultimately, a team’s success relies on media contributions.

                                Future Research: In what ways do Sponsorships acquired to teams expand the popularity of a team’s Franchise?

http://www.teachpe.com/gcse_society/media.php

Where Do People Poach, Anyways?

Source: mit.edu

You don't see a lot of poaching in the US, and that is because there are more wildlife animals available in Africa and too many protections in the U.S. Although nearly all African countries experience poaching to some degree, only a few have very severe cases. In this light, which ones have the largest poaching problems? Poachers are found in locations with large populations of valuable animals. Many poacher gangs have been formed in the countries that are most densely populated with rhinoceroses or elephants. The gangs take advantage of the amount of these animals and often kill them in large numbers. An article from ProQuest Research Database, "Dying Horns of Africa," highlights where this is occurring. As made clear by the shrinking number of rhinos, the growth of “organized gangs has devastated Zimbabwe’s rhino population and threatens to wipe out South Africa’s critically endangered black rhinos within a decade." Because of the large amount of rhinos located there, these two countries are centers of gang activity and participation in poaching is at an all-time high. Other African countries often have isolated cases of poachers, but the extent to which animals are killed in Zimbabwe and South Africa are above all others.

South Africa has a particularly extreme amount of poaching, even more so than its neighbor Zimbabwe. In recent years, the country has seen a severe increase in the amount of poaching that takes place. South Africa is home to a vast amount of animals, including rhinos, elephants, and gorillas, all of which used to live there rather safely. The high population of rhinos has thrived there for many years, but in recent times they have experienced death rates like never before. 

With this being said, how can poaching be prevented?

Athletes Who Made Comebacks After Career Threatening Injuries

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All you hear about athlete’s injuries usually is how bad they are and how they are never going to come back, but I am going to give some examples of when athletes bounced back from injuries that appeared to be too devastating to come back. In an article on General Sports, here are some athletes who had devastating injuries and what happened and how they came back.

• Niki Lauda- He was “one of the best drivers” in Formula 1 history who was trapped in a fire, and went into a coma. Surprisingly, he was back racing in six weeks, and took 4th place in the Italian GP. This in my opinion is one of the biggest miracles in all of sports to be in a coma and then a few weeks later be back to the sport that you love. This shows that athletes can come back from terrible injuries and still make an impact.

• Maria Sharapova- She was a tennis player who was “dominating every court,” despite a nagging shoulder injury that took her out of play and into surgery. Many thought that she would never be the same, and some thought she would never even return. But through vigorous rehab she was back on the court in a year. She won the French Open capping off an already impressive career making her one of the best to ever play. No matter what sport you are returning to I admire someone who can come back and play at such a high level.

Niki Lauda and Maria Sharapova are just two of the names that truly stood out to me. They are very similar in making returns to their sports despite suffering a career threatening injury. Not only did they return but they both returned to their extremely high level of play with Lauda getting 4th place in a respected race, and Sharapova winning the French Open. No matter the sports they play, you have to love a good comeback story.

Next Blog: NFL players to never play again.

Dunphy-Tearing of the ACL

-Payment Costs for Repairing an ACL

The procedure for repairing an ACL is quite a long process, taking up to 7 to 10 hours.  As a result, the doctors drive a hard bargain to repair such a difficult procedure. The cost of ACL surgery varies across the country and from facility to facility. The average cost of ACL surgery in 2010 was about $5,000 to $6,000. But this cost did not include the surgeon's fees or the anesthesiologist's fees. That may add to another 1000 to 2000 dollars.  

According to the medical website Health Grade (http://www.healthgrades.com/procedures/how-much-does-acl-surgery-cost) Coverage for ACL surgery typically includes: 

• An evaluation appointment with an orthopedic surgeon
• Pre-surgery appointments including diagnostic studies and lab tests
• The surgery including fees for the doctor, anesthesia, graft, and hospital operating room
• Rehabilitation and physical therapy appointments

If you don’t have insurance and will be paying for your ACL surgery, do a little research. The cost of ACL surgery varies across the country and from facility to facility. The average cost of ACL surgery in 2010 was about $5,000 to $6,000. But this cost did not include the surgeon’s fees or the anesthesiologist’s fees. The total cost of ACL surgery can be as high as $11,500.

All in all, ACL surgeries are very expensive, and not having any insurance for such a procedure can really hurt one's family financially.  Also, surgical procedures really seem to be more expensive because our economy continues to falter. 

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