Velvet Ant Facts

Velvet Ant Facts Velvet ants are part of class Insecta and are found worldwide. They get their name from the bright, fuzzy fur on their bodies. For example, Dasymutilla occidentalis (red velvet ant) is derived from the Greek root word meaning shaggy (dasy). Fast Facts: Velvet Ants Scientific Name: MutillidaeCommon Names: Velvet AntOrder: HymenopteraBasic Animal Group: InvertebrateDistinguishing Characteristics: Black or brown bodies with bright red or orange velvety hairSize: 0.25-0.8 inchesDiet: Bumblebee larvae, nectarHabitat: Desert, meadows, fields, forest edgesConservation Status: Not assessedFun Fact: Red velvet ants are often called cow killers because their stings were said to be powerful enough to kill a cow. Description Velvet ants are wasps that get their name from the velvety fur on their bodies and are not very aggressive. Females do not have wings and walk along the ground for food, while the males have transparent wings and look more like wasps. Females possess curved stingers that extend from the abdomen and can sting multiple times. In some species, such as cow killer ants, their stingers have venom. Although the venom is not particularly toxic, the sting will hurt. Males do not have stingers, but they do have pointed pseudo stingers. Additionally, velvet ants have hard exoskeletons, and their bodies consist of a thorax and abdomen, both of which have short hairs. These ants are between 0.25 and 0.8 inches in size, and they have six legs and antenna. Habitat and Distribution Velvet ants are found worldwide. Some, like the red velvet ant, are mainly found throughout the U.S., but especially in dry regions. They gravitate towards open areas like fields, meadows, and even lawns. However, because velvet ants are parasitic, they will appear wherever their host species, such as bumblebees and wasps, live. Diet and Behavior Velvet Ant searching for prey. Â  rkhphoto/iStock/Getty Images Adult velvet ants consume nectar and water from flowers like milkweed. They may also consume larvae and adult insects, such as flies and beetles. Young velvet ants eat the body of their host as well as its larvae or cocoons. Females are most often found scurrying along the ground looking for nests of host species, while males are found on flowers. Velvet ants are relatively solitary creatures and are most active at dusk/night. These wasps are not normally aggressive and will not sting unless aggravated. Males and females can make squeaking sounds by rubbing abdominal segments against each other as a warning sign or when trapped. As parasites, they attack bumblebee nests, other kinds of wasp nests, and even fly and beetle nests to implant their eggs into them. While females spend most of their time searching for any sign of nests, males are usually spotted flying above the ground in search of a mate. Reproduction and Offspring Males fly close to the ground in search of potential mates and try to detect pheromones the females secrete. After mating, and to ensure the survival of her offspring, females search for and infiltrate ground nests of bumblebees and wasps to lay their eggs. Once a suitable host is located, the female lays her one to two eggs in the hosts larvae. She chooses larvae that have completed feeding and are ready for pupation by cutting through the cocoon and laying her eggs inside. The young will then grow and emerge from the host. The young eat their host, spend the winter in cocoons they spin within the case of the host, and emerge as adults in late spring. From the time they hatch, these young are on their own. One generation of velvet ants per female is likely produced each year. Species Velvet Ant. Â  fitopardo.com/Moment/Getty Images Insects in the family Mutillidae are considered velvet ants due to the similar salient features of the females- wingless and with velvety fur. About 8,000 species have been reported worldwide in the family Mutillidae, with 435 species located in the southern and western parts of North America. The most common species in this family is Dasymutilla occidentalis, which is known as the cow killer. Depending on the location, different species will have different sizes of males and females. In most species, the males are typically larger than the females, but six species found in Florida have similar sizes between males and females. Conservation Status Velvet ants have not been assessed by the International Union for Conservation of Nature (IUCN) and are not considered pests because they rarely invade homes. Sources Cow Killer (Dasymutilla Occidentalis). Insect Identification, 2019, https://www.insectidentification.org/insect-description.asp?identificationCow-Killer.Cowkiller Velvet Ant. Aquarium Of The Pacific, 2019, aquariumofpacific.org/onlinelearningcenter/species/cowkiller_velvet_ant.Mutillidae - Velvet Ants. Featured Creatures, 2019, https://entnemdept.ifas.ufl.edu/creatures/misc/wasps/mutillidae.htm. Velvet Ant | Insect. Encyclopedia Britannica, 2019, https://www.britannica.com/animal/velvet-ant.Velvet Ants. Insects In The City, 2019, https://citybugs.tamu.edu/factsheets/biting-stinging/wasps/ent-3004/.Velvet Ants, A.K.A Cow Killers Ants. Pestworld.Org, 2019, https://www.pestworld.org/pest-guide/stinging-insects/velvet-ants-cow-killers/.

5 Tips on How to Fill a Bubble Sheet

5 Tips on How to Fill a Bubble Sheet Taking a test is hard, and adding a bubble sheet doesnt necessarily make it easier. Make all of your studying count by following these easy tips for taking this type of test. Bring a Good Eraser to the Test   Bubble sheet readers are pretty sensitive, so you have to be very careful about changing your answers. When you erase one bubble and fill in another, you run the risk of getting the question marked wrong because the reader thinks you’ve answered twice. You want to be able to erase the wrong answer as completely as possible. Old, dry erasers don’t work well, so they will cost you valuable points. Follow Instructions   It sounds so simple, yet it proves to be the downfall of many, many students. Every single, solitary time a group of students takes a bubble-in test, there will be a few students who just don’t fill in the bubbles completely! Students also go a little haywire and overfill the bubbles, which means they scribble outside the lines completely and make the response unreadable. This is just as disastrous. Both misdeeds cost you points. Think about it: you sweat over each math question and work so hard to get each one right. Yet you don’t take care to fill in the bubble all the way? It’s plain self-destructive behavior! Make Sure Your Answers Match the Questions The classic bubble sheet mistake is the misalignment booboo. Students get â€Å"off† by a question or two and end up marking question five’s answer in question six’s bubble. If you don’t catch this mistake, you can end up mismarking an entire test booklet. Do a Section at a Time One way to keep yourself on track and avoid the misalignment booboo is to fill in the bubbles for one-page-worth of questions at a time. In other words, start on page one and read each question on that page, and circle or mark the correct answers in your test booklet. Once you get to the last question on a page, then fill in the bubbles for that entire page. This way you are filling in 4 or 5 answers at a time, so you are constantly checking your alignment. Don’t Overthink and Second Guess If you finish a portion of a test and you are sitting there with ten minutes to kill, practice some self-control. Don’t be tempted to re-think every answer. There are two reasons this is a bad idea. First of all, it’s a good idea to stick with your first gut feeling. People who overthink tend to change right answers to wrong answers. The second reason it’s a bad idea goes back to the bubble-erase problem. You can make a mess of your bubble sheet when you start changing your answers.

Hospitality and tourism industry economy in Australia Essay

Hospitality and tourism industry economy in Australia - Essay Example Although, this segment comprises of a cluster of small firms or hotels that offers extremely attractive holiday packages to spend leisure or recreational times, religion or health, business and professional purposes at a quite affordable ranges. Due to this, its competitiveness enhanced to a significant rate as compared to others. Thus, from the above graphs, it might be depicted that the outlook of hospitality or tourism industry in Australia changed to a certain extent. The entire credit of such a market scenario of hospitality and tourism industry of Australia is due to the changing demographics. However, in-spite of benefits, it also had to face varied types of challenges as well. This paper mainly focuses about the challenges regarding the type of jobs and talents required for the individual getting engaged in the hospitality and tourism industry in Australia due to changing demographics. Along with this, it also describes the appropriate human resource approaches essential to retain the employees as well as to attract new talented ones towards the industry of tourism. In this today’s era, maximum extent of the employees desire to establish his or her own identity and image in the organization or industry, engaged with. This is mainly due to the changes of the attitudes and behaviours of the generation x and y candidates as compared to baby boomers. So, in order to retain the employees of generation x and y within the organization or industries for a longer period of time, varied types of human resource approaches are maintained. These approaches might lead to the betterment of this industry. So, they are described below one by one. Succession Management- according to Philips (2012), it is a constant process of identifying, assessing and developing varied leaders within the organization so as to improve the level of performance, dedication

Difference between void contracts and voidable contracts Assignment

Difference between void contracts and voidable contracts - Assignment Example Voidable contract is a form of valid contract where all the four essential elements of a contract are present. According to Cross and Miller (2011, p. 752), a voidable contract is a contract which might be â€Å"legally avoided (canceled, or annulled) at the option of one of the parties.† In more generalized sense, the party/parties having the option to avoid the contract can avoid the contract altogether. Otherwise, they can also select which contractual duty is to be avoided. However, there is a process of ratification. If the contract is ratified by the contracting parties, then even a voidable contract will become strictly enforceable. Firstly, void contracts are itself a category of contracts. But voidable contracts are a subcategory of valid contracts. Secondly, void contracts are no contracts at all. However, voidable contracts are strictly enforceable contracts once they are ratified by the contracting parties. Thirdly, a void contract can never have all the four essential contractual elements in it. For example, if the element of consideration be missing in a contract, then that contract can be deemed as a void contract. However, this is not the case with voidable contracts. A voidable contract has all the four essential contractual elements in it 1. Suppose, A and B sign a contract on dealership of cannabis. However, selling or buying cannabis is banned in the US. So this kind of contract is a void contract since it violates law. (Schaffer, Agusti, and Earle 2008) 2. Suppose, A and B sign a contract to build a resort on an island in an active delta area. After a few days, there is a flood and the island is completely submerged under sea. Then, the contract between A and B will become void since the object of the contract cannot be achieved

Cognitive Process Culture Essay Example for Free

Cognitive Process Culture Essay Lamadrid takes into account the mythical or magical dimension of the novel and relates it to the emerging social consciousness of the protagonist. He asserts that Anaya elucidates that the command of Curandera is consequential in nature is derived from mythical though process and it resultant knowledge. These mythical thought processes itself are derived from resolution of the contradiction that is inherent within the culture. So he portrays power as capability to contemplate and comprehend the social processes in a dialectical way. So myth is not something extra-human and acultural phenomenon but it is a cognitive representation of social thought process. This scholarly article facilitates readers to understand the role of Antonio in the context of mythical realism and development of his mature social consciousness at the end of the novel. People resort to Antonio at critical times because they are inherently aware that these mediators have powers that can offer remedies to their maladies. So myth helps understanding the role of Antonio in the society and how this role is established. Mancelos, Joao de. Witchcraft, Initiation and Cultural Identity in Rudolfo Anayas Bless Me, Ultima. Alfarrabio. Retreieved on 12 October 2008. Website: http://alfarrabio. di. uminho. pt/vercial/zips/mancelos21. rtf This article manifests the development of Antonio and how different elements of chicano culture i. e. witchcraft, cultural identity play a vital role in helping him achieving maturity. He considers the role of Ultima and his witchcraft prowess to help Antonio explore his cultural identity. This article elaborates the role of his familial traditions, by his Hispanic lineage and his Catholic religion at an early stage of his life. Later he learned the tussle between Ultima and his religions but prefers Ultima and his witchcraft. All this contribute toward his maturity at the end of the novel. This article explains various developmental stages of Antonio and contribution of various factors during these periods and enables us to understand the contributories toward this development.

Physics and the Olympics :: Sport Sports Olympic Competition

The Olympics are fabled to have originated from a Greek myth, in which Hercules won a race at Olympia, a plain in the small state of Elis, and then decreed that the race should be enacted every four years. The more likely story is that the Olympic festival was a local religious event until 884 BC, when Iphitus, the king of Elis, decided to turn it into a broader festival. To accomplish that, he entered into a temporary truce with other rulers, allowing athletes and others to travel peacefully to Olympia while the festival was going on. In 776 BC, the Greeks based their chronology on four-year periods, called Olympiads, and the Olympic festival marked the beginning of each Olympiad. Today, the Olympics are still held every four years, and advanced in technology and fitness training have enhanced world records to the absolute maximum. All Olympic sports have experienced major changes over the years, but here I will discuss a few of the more famous Olympic events; the 100-meter dash, the javelin throw, and the pole vault. The Greeks actually had a sprint of about 190 metres called the stadion in the ancient Olympics, which was a sprint down a straight track and back again. The technology of the day consisted of nothing more than a wooden post at one end to help the runner on his return back up the track. Races originally began with the athletes standing upright, with their toes resting in grooves in a stone starting sill - hence the expression "toe the line". False starts were punished by flogging from a judge standing behind the athletes. Later it seems that a starting gate (called the husplex) was used, much like that used in horse-racing today. In the modern Olympics, sprinters start from a crouching position, pushing against starting blocks to help them accelerate. Blocks were introduced in the late 1920s and were first used at the 1948 Olympic games in London. Instrumented starting blocks appeared in the early 1980s, and consisted of a spring plate and a microswitch. In the late 1980s units based on strain gauges emerged, although they were very sensitive to the push of the athlete against them and caused many wrong false starts in competitive races. An improved strain-gauge version that worked quite well was introduced in about 1993, and two years later an "intelligent" version was developed.

To What Extent Does Market Liberalisation Influence Competition In Gas And Electricity Sector

ABSTRACT Market liberalization is a modern concept adopted by many governments around the world. It has gained fame due to its ability to enhance efficiency and quality due to competition. This paper presented an analysis of the liberalization of gas and oil sectors in the United Kingdom. The analysis was limited to the level and effects of downstream liberalization of these sectors. The approach adopted by this paper included review of several sources that relate the various changes that have taken place in the UK electricity and Gas sector since 1980s. From the analysis of the concept of liberalisation and its application in the gas and electricity sectors in the UK, it is evident that it is directly linked to the introduction of competition. Liberalisation in these sectors involved unbundling of downstream infrastructure and activities, opening up the sectors for competition. The fact that UK produces most of its electricity and gas makes it to have full control of its downstream liberalisation. UK has effectively managed to introduce and maintain downstream competition enhancing the impact of liberalisation in the sectors. In addition, the separation of the activities of the sectors promotes free competition in the downward segment of the two industries as the government is in a position to offer independent regulatory framework that promotes liberalisation i n the sectors. INTRODUCTION Market liberalisation has been a major policy in most developed economies in regard to electricity and gas sectors[1]. The push of introducing competition through privatisation in the gas and electricity sectors emerged in the 1980s with the United Kingdom and the United States pioneering liberalisation in these sectors with a success[2]. The adoption of liberalisation in the gas and electricity sectors has resulted to shift from state owned vertically integrated monopolies to privately owned, liberalised market participants that operate under government regulations are well as environmentally conscious environment[3]. Consequently, the traditional approach to doing business in the gas and electricity sectors has been changed as the industries move from large dependence on the capacity to reliance on short-term market price signals, flexible energy policies and tentative environmental regulations[4]. Therefore, the ultimate approach adopted in introducing downstream liberalisation in the oil and gas sectors was through the introduction of various reforms by the government that initiated a shift from government owned monopolies to a competitive formation[5]. As much as the eventual benefit of downstream liberalisation is increased efficiency and competitiveness that results to lower prices for commodities in the market, government regulations play a central role in regulating operations of these sectors[6]. This paper will focus on analysing downstream liberalisation in the gas and electricity sectors in UK and how it promotes competition BACKGROUND INFORMATION ON ELECTRICITY AND GAS SECTORS IN THE UK The underlying principles for reforms in this sector was that privatisation of the sectors would provide better competition than direct state ownership[7]. The analysis of the two sectors was conducted independently for development of deeper insights of the level liberalisation as well as future prospects in terms of downstream competition.The Gas SectorUK is the third largest consumer of gas in the world. Its use of gas is not limited to a source of energy as its use as a fuel in electricity generation is on the increase as the use of coal is being dropped due to its heavy carbon footprint. Most of the gas used in the UK is sourced from its offshore gas fields; however, this is bound to change in the future as its deposits are diminishing[8]. The offshore production process in UK is very competitive with numerous fields exhibiting diffuse ownership.[9] Onshore pipeline operations are dominated by Transco as much as there are 11 other independent pipeline operators in the UK[10]. Dow nstream competitiveness is also boosted by over 100 wholesale gas outlets who mainly deal with gas shipment. Compared to other countries in Europe, competition in UK’s gas sector is very steep due to the boundless extraction potential in its offshore sources,[11] enhancing downstream competition. Before liberalisation of the gas sector in UK, wholesale gas contracts were restricted take-or-pay commitments, long-term and linked to international oil prices. The emergence of liberalisation in the 1990s resulted to competition with an upsurge of players[12]. This automatically resulted to reduced contract periods, take-or-pay commitments were lessened, and the price of gas is no longer linked to the oil prices. Furthermore, the UK has implemented measures that promote relationships between gas transports as a service and gas supply as energy has enhanced the level of stratification of the gas sector as more wholesalers enter into the business[13]. Subsequently, the process of production of gas and transportation of gas in the UK are separated and operated by different companies. The UK gas pipeline system is connected to the mainland Europe which functions in two ways. Most of the connection is used for gas export purposes to other European countries while during winter the pipeline is used for importation to bridge the demand gap as production is slowed down during those times[14]. The large size of Europe market relative to UK results to price arbitrage between UK and Europe, which in most cases increases the wholesale prices of gas in UK. The effect of low level of downstream liberalisation in the European gas sector makes the shift in gas prices in UK insignificant due to poor levels of downstream competition in Europe[15]. The 1972 Gas Act resulted to the merger of the coal gas supply industry to a government owned monopoly. This monopoly was reinforced by the fact that the government owned all onshore gas infrastructures. The liberalisation program was introduced in 1980s by formulation of the Oil and Gas Act of 1982 that aimed to introduce competition in the sectors[16]. This act passively promoted competition through the development of a better framework for awarding contracts[17]. The 1986 Gas Act initiated privatization of government owned BG Company as an effort of cultivating liberalisation and competition in the gas sector. However, real competition in the gas sector in UK emerged in 1990s. This was boosted by the Gas Act of 1995 that promoted unbiased competition in the gas market where production process and transportation process were separated and price control for storage and transportation was split[18]. This was an important aspect that promoted an increase in the number of players in th e field promoting competition.The Electricity SectorThe process of liberalisation of the electricity sector in UK was initiated in 1990[19]. This was initiated by splitting of the government owned Electricity Company into four companies[20]. Three companies were involved in generation while one was involved in transmission of electricity in UK. The two non-nuclear companies were privatised by 1991while the nuclear company remained a public company. The supply system was transferred to 12 regional private companies[21]. The main aspect of this shift of ownership from government to private in the electricity sector was the horizontal downstream severance, which resulted to competition. To enhance downstream competition, the pool system was introduced with the aim of centralizing trade in the electricity as well as develops a balance between demand and supply[22]. The pool system is a single price system that is defined by the bids offered by the generators. The government also introdu ced regulated reintegration of the electricity production and supply sectors as an approach to promoting efficiency. In 2001, the pool system was abandoned in favour of the wholesale market framework based on New Electricity Trading Agreements (NETA) that promoted integration of gas and electricity sectors as gas became a major fuel for electricity generation in the UK[23]. The introduction of NETA as the main regulatory system in the electricity sector enabled the development of effective linkages between the regulated monopoly of balancing and the competitive market. This system promoted segregated downstream ownership, which has reduced the number of regulations needed to guarantee non-biased access to the networks. Downstream competition is no longer managed by price regulations. Quality has become the main threshold of downstream regulations resulting to intensification of quality controlled competition[24]. There are numerous reasons that affect the process of liberalisation in this segment Firstly, the changes in the UK electricity sector were based on reforms that aim to develop competition through privatization[25]. The argument was that a pro-competitive industry is better that one that is devised based in regulations in managing maker powers. The privatization of electricity generation required numerous regulations, which require a long period of time to completely eliminate all the anti-competitive forces in the sector. Secondly, the use of regulations is slowly defining activities that promote completion in a sector that had a high level of monopoly. The competition problem in this sector emerge due to various activities require application of natural monopoly. These challenges are handled by sustained changes in the regulatory framework to promote complete downstream liberalisation in the electricity sector[26]. The strong vertical relationship in the electricity sector also results to complications where downstream competition problems affect upstream competition[27]. For instance, capacity problems at one production unit may require other production system to alter their production to compensate the deficit. Likewise, vertical competition is easy to distort due to availability of various avenues that may promote distortion of competition. This is common where the returns of the market are regulated below the monopoly price. As a result, competitive activities by former monopolies results to various challenges with regard to regulations[28]. The main successes realised in the reforms of the electricity sector in the UK is the implementation of the Ofgem proposal[29]. This proposal has resulted to extension of NETA by introducing tradable electricity, financial firm, and development of market based electricity production system. Generally, the electricity reforms taking place currently aims to completely eradicate regulation systems such that the downstream liberalisation in the electricity sector is fully realised to promote full-scale competition, where the operations of the sectors are fully controlled by the market forces[30]. DESCRIPTION OF ELECTRICITY AND GAS SECTORS IN THE UK From the above preview of what is happening in the electricity and gas sectors in the UK, it is evident that the sectors are moving towards the realization of complete liberalisation as regulations loosen. The development of regulations was initiated with a focus on price regulation but as time went by, they are mainly focussed on quality control. These changes have raised some issues that require detailed analysis to develop a comprehensive presentation of how downstream liberalisation in these sectors promotes competition.Downstream Gas sectorThis is majorly driven by the 1995 act provisions that define the activities of downstream gas sector and how competition is achieved. To be able to analyse the process of downstream competitiveness, it is necessary analyse the elements of the code as it determines how downstream competition in the gas sector is achieved. The first aspect of the code is that the shippers book supply to the national transmission system for a 12-month period whe re the price of supply are determined by location of injection point[31]. Gas is bought and sold by Transco based on flexibility mechanism to ensure no shortfalls are experienced as a result of shippers’ imbalances[32]. Transco is also responsible of ensuring the available inventory sustains peak seasons such as during winter[33]. Analysis of the offshore gas mining fields reveals intense liberalisation strategies that promoted competition. Specifically, the North Sea gas fields in UK are managed by 25 different operators that share 129 gas exploration licences[34]. The introduction of various players in the production process automatically eliminated monopoly, which has been a major problem in downstream gas liberalisation. However, government still regulates the production process of gas resulting to partial liberalisation in the production system[35].Downstream oligopoly in the gas sectorThe fact that gas supply is limited to a few locations that are mostly offshore and some imported from a few countries that are globally known for their huge amounts of gas reserves, there are very few players in the production and supply of gas in the UK. The ability of UK to produce its gas locally makes its supply chain manageable and directed to full liberalisation covering both upstream and downstream[36]. Oligopoly as a market structure in the gas sectors has been in existence in the UK since 1970s with its upstream market. The perception of oligopoly in the UK gas sector is founded on the fact that a market that is exposed to perfect competition has players that have fewer concerns about the operations of their counterparts. An action by one players results to a reaction by the other. For instance, if one firm is unable to meet its production requirements, another company increases its supplies to ensure the gap left by the other firm is levelled. Similar case is evident in product pricing where all the companies develop almost similar pricing partly regulated by regional needs within the UK[37]. Therefore, UK gas supply system is operated based on oligopoly of its 25 main supplies from the offshore gas fields where the final price of the gas is determined by the effects of informal collision between the suppliers. The collision price of gas in UK is also affected by the global oil price that is normally used as a reference point in most cases. The fact that currently there is no excessive dominance in the downstream segment as most government operations have been privatized; the prices charged by the wholesale suppliers is similar.Implications of liberalisation in UK’s Gas SectorBefore the concept of liberalisation was introduced in the gas sector in the UK, there was a high level of monopoly in the gas production system with the government owning almost all offshore gas fields in the UK[38]. Liberalisation has resulted to entry of new players with government monopoly being eliminated and competition taking its roots. However, downstream gas sector in the UK is not fu lly liberalised as in the case of upstream due to high levels of government regulations in an effort of ensuring supplies meet the demands and prices are regulated within acceptable standards. Furthermore, the high costs of investments needed in downstream segment of UK’s gas sector limit entry of new players resulting oligopoly as the main approach to downstream competition in the gas sector. Therefore, downstream liberalisation in the gas sector has opened it up to competition through processes that resulted to separation of the production chain from supply chain, introduction of competition through privatization of government monopolies, and development of regulatory frameworks that control areas that are still affected by natural monopoly[39].Downstream Electricity SectorThe production of electricity in the UK has undergone numerous changes since early 1990s when coal and nuclear dominated the generation system. New plants that operate using gas and nuclear have been inst alled while several coal and oil based plants have been shut down as the country embraces the spirit of green energy. The concept of liberalisation is also evident in the system as most of the new generation systems developed from the 1990s are privately owned[40]. The introduction of private companies in the power generation automatically resulted to the decline of dominance in the sector by national power and power gen which are state owned companies. This is evident as government dominance in power generation is lowest in the UK as compared to the rest of Europe. The success of UK electricity sector is founded in its effective regulatory framework that has protected it from the faults that were evident in California and Australia when downstream liberalisation was introduced[41]. The regulatory system adopted in downstream electricity sector in the UK is market based. Moreover, the UK downstream electricity sector is devised based on strong market incentives that promote entry of new players as a way of fostering competition[42]. NETA has successfully managed to keep the wholesale electricity prices low making it possible for new players to enter into the production system and compete favourably. The fact that the transmission system is still monopolised, downstream liberalisation is limited to production as much as the government has set various measures to ensure it does not interfere with downstream and upstream liberalisation[43]. The government has initiated various regulatory changes that promote competition between market players. The main aspect that promotes completion is the market share that is defined by a company’s effectiveness and competitiveness. The most important aspect of liberalisation in the electricity production system is to introduce competition as the main aspect of promoting innovativeness and efficiency among the players in the sector[44]. The success of UK system is founded in its approach that promoted competition amid independent producers and existing government firms. Competition as a result of liberalisation of the UK’s electricity downstream sector was promoted by development of regulation of monopolies in the sector with the aim of eliminating the traditional vertical integrated system. Liberalisation broke down the structure into three sections, which were downstream, transmission, and upstream where competitive markets replace the vertically integrated firms with government monitoring and regulation. The approach to liberalisation in the UK’s electricity sector was based on transmission system operators (TSOs)[45]. This system is based on the concept that ownership and transmission planning are integrated components of the market and system operation[46]. The state ownership of the transmission system is central to the success of the system as it ensure unbiased treatment of the firms involved in the downstream production of electricity. More so, the use of TSOs has enhanced coordination between the electricity producers enhanci ng competitiveness as information exchange is encouraged[47]. The electricity market is complex due to inability of the producers to store the produced power in large quantities and the existence of varied demand conditions. The need of electricity production system to meet the demand needs and flexibility makes the process of downstream liberalisation to be regulated to ensure system stability[48]. The lack of constant consumption pattern in electricity results to price volatility in the wholesale electricity market. These complexities tend to play down on competition as reliable supplies are used during peak seasons resulting to instances of oligopoly in the downstream electricity sector. Generally, there are some complexities in downstream electricity sector in UK; however, the introduction of liberalisation that has been subjected to continuous improvement to ensure liberalisation is fully realised has created competition as evident in the introduction of the pull system that resulted to competition lowering prices[49]. NETA is another major body that not only enhanced competition in the electricity sector but also resulted to further drop of prices as players increased promoting price competitiveness[50]. The recent vertical reintegration in the UK electricity sector where large electricity producing companies are acquiring retail distribution businesses this is another factor that will further enhance competitiveness in the sector as players develop links that offer them direct access to the final consumer of their product[51]. CONCLUSION The analysis of the concept of liberalisation and its application in the gas and electricity sectors in the UK reveals its direct link to the introduction of competition due to the introduction of many players in the downstream segment and the eventual opening up of the segments to market forces that are ineffective to monopolistic market structure[52]. The paper examined a historical account of the regulatory changes in the process of liberalizing the UK gas and electricity sectors providing links between liberal policies and regulations and opening up of the sectors to competition. The most evident aspect of liberalisation that promoted competition was the privatization of government monopolies in the production of electricity and gas in the country. Specifically, it was evident that the process of liberalisation of gas and electricity sectors is affected by the types of commodities that are handled by the players in the two industries. Furthermore, the fact that UK produces most of its gas and electricity locally makes it an interesting participant in downstream liberalisation. However, the uniqueness of the properties of electricity and gas require infrastructural systems that are managed by the government to ensure a level playing field for the downstream segments in the gas and electricity industries in the UK. References Primary sources International Decisions OECD. 2005. The Benefits of Liberalising Product Markets and Reducing Barriers to International Trade and Investment: the Case of the United States and the European Union. OECD Economics Department Working Paper 432, Paris National Legislation Great Britain. 2009. UK offshore oil and gas: first report of session 2008-09, Vol. 1: Report, together with formal minutes. London, UK: The Stationery Office Great Britain. 2011. The UK’s energy supply: security or independenceeighth report of session 2010-12, Vol. 1: Report, together with formal minutes, oral and written evidence. London, UK: The Stationery Office Secondary sources Books Armstrong, M., Cowan, S. & Vickers, J. 1994. Regulatory Reform, Economic Analysis and British Experience. Cambridge, MA: MIT Press Geradin, D. 2001. The Liberalization of Electricity and Natural Gas in the European Union. South Holland: Kluwer Law International Gao, A. M. 2010. Regulating Gas Liberalization: A Comparative Study on Unbundling and Open Access Regimes in the US, Europe, Japan, South Korea, and Taiwan. South Holland: Kluwer Law International Parker, D., 2012. The Official History of Privatisation, Vol. 2. London, UK: Routledge Smith, M. P. 2012. States of Liberalization: Redefining the Public Sector in Integrated Europe. New York, NY: SUNY Press Surrey, J. 2013. The British Electricity Experiment: Privatization: the Record, the Issues, the Lessons. London, UK: Routledge Articles Joskow, P. & Tirole, J. 2000. Transmission rights and market power in electric power networks. Rand Journal of Economics, 31(3), 450-487 Newbery, D. 2005. Electricity Liberalisation in Britain. The Energy Journal, special issue on European Electricity Liberalisation. Wolak, F. & Patrick, R. 2001. The Impact of Market Rules and Market Structure on the Price Determination Process in the England and Wales Electricity Market. NBER Working Paper 8248

Analysis Taj Hotel

The Indian Hotels Company Limited Analyst Meet Results for the Half Year ended September 30, 2012 November 6, 2012 1 Disclaimer These presentations contain forward-looking statements within the meaning of applicable securities laws. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements Forward-looking statements are not guarantees of future performance and involve risks and uncertainties and other factors that may cause actual results to differ materially from those anticipated at the time the forward-looking statements are made.Future results, performance and achievements may be affected by general economic conditions, regulatory environment, business and financing conditions, foreign exchange fluctuations, cyclicality and operating risks associated with the hospitality industry and other circumstances and uncertainties. Although we believe the expectations reflected in such forward looking stat ements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results will not materially differ.We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise Please visit our communications corporate website www. tajhotels. com for previous investor 2 Presenter Panel Raymond Bickson – Managing Director & CEO Anil P Goel – Executive Director – Finance Abhijit Mukerji – Executive Director – Hotel Operations Deepa Harris – Senior Vice President – Sales & Marketing 3 Outline of Presentation Industry Trends New Inventory Sales & Marketing Initiatives Financial Results Industry Trends 5 International Tourist Arrivals 2012 International tourist arrivals worldwide grew by 5% in the first 6 months of 2012 to 467 million international travelers, consolidating the growth trend that started in 2010. International Tourist Arrivals were up in all regions of the world, with advances and emerging economy destinations growing at about the same pace. First 6 months of the year typically account for 45% of the tourist arrivals since most of the Northern Hemisphere performs much better in the second half which is its peak season.Source : UN WTO 6 Global Hotel Performance January – September 2012 Americas and Middle East showed a moderate growth in Key Performance Indicators over last year Asia Pacific market saw an overall moderate growth in occupancy and ADR for most of the first 9 months of 2012 In the Indian subcontinent, both rates and occupancies lagged behind last year, owing mostly to increased supply and resulting in an overall RevPAR 13% below last year Source : STR Global 7 Foreign Tourist Arrivals in India 2012 vs 2011 Foreign Tourist Arrivals in India (In Lakhs) 8 7 6 5 4 3Jan Feb Mar Apr May 2011 June July 2102 August Sept Oct Nov Dec April-Sep :+3. 4% Jan- Sep :+5. 9% growth over last year Growth in Tourist Arrivals in India has slowed down and increased to 2. 6 mn travelers in April – Sep 2012 which was a 3. 4% growth over 2011 vs 9. 3% growth in April – Sep 2011 over 2010. Growth for Jan-Sep 2012 was 5. 9% over 2011 against vs 9. 9% in Jan-Sep 2011 over 2010. The traditional source markets of US , UK and Western Europe continue to be the majority contributors to arrivals in India Source : Ministry of Tourism, Government of India 8India Hotel Performance – Key cities April to September 2012 April – September 12, % change in Market Scenario 70. 0% 61% 60. 0% 50. 0% 40. 0% 30. 0% 20. 0% 10. 0% 0. 0% India Goa Mumbai Delhi Jaipur Bangalore Chennai Hyderabad Supply % change Demand % change 23% 20% 9% 4% 6% 32% 25% 32% 31% 26% 20% 49% 40% 33% 4% There has been overall a 23% increase in Supply in H1 compared to last year. Demand growth has been moderate at 20% in summers and expected to pick up in H2 and winters Source : STR Global 9 India Hotel Performance – Key cities April to September 2012 April – September 12, % change in performance 0% 5% 0% -5% -10% -15% -20% India Goa Mumbai Delhi Jaipur Bangalore Chennai Hyderabad Occ % change ADR (INR) % change -3% -5% -2% -4% -1% -5% -9% -11% -7% -8% -11% -3% -5% -5% 5% 1% The Demand – Supply mismatch has put a pressure on occupancies and Average rates compared to last year across all key metros Overall this has led to a 7% decrease in RevPAR in the Indian Hospitality Industry in the first half of the Financial year Source : STR Global 10 Occupancies – Year on Year Trend 56 54 59 58 58 55 56 61 52 58 62 54 51 46 46 65 Delhi India Bangalore Hyderabad Mumbai Chennai Jaipur H1 2011/12Source: STR Global Reports H1 2012/13 Lower occupancies across all cities except Goa 11 Goa ARRs –Year on Year Trend 7910 7606 7224 6559 5929 5648 6717 6198 5945 5765 5344 4778 4092 3645 4949 4980 Delhi Bangalore Hyderabad Mumbai H1 2011/12 S ource: STR Global Reports H1 2012/13 Rates lower across all cities barring Goa Chennai Jaipur India Goa 12 Rev PARs – Year on Year Trend 4700 4408 4185 3595 3323 3077 3771 3219 3653 3369 2882 2446 1898 1679 3059 3219 India Mumbai Chennai Jaipur Delhi Bangalore H1 2011/12 Source: STR Global Reports H1 2012/13 RevPAR lower across all cities barring GoaHyderabad Goa 13 New Inventory 14 Supply Pipeline As of September 2012 Asia Pacific the Growth Centre for Investments in the Industry No of Rooms in Pipeline September 2012 As Pac, 377397, 38% Americas, 363568, 36% MEA/Africa, 122942, 12% Europe, 141554, 14% The demand in Asia Pacific is supported by the growing supply coming into these countries from international brands and the largest pipeline worldwide The highest growth in As Pac region is in the Upscale segment The Americas continue to see a high active pipeline, here too mainly in the Upscale segment Source : STR Global 15Taj Group Inventory 112 99 103 107 115 62 66 76 82 8 8 16 Hotels Opened 2012/13 Hotel Taj Taj Palace Marrakech, Morocco (Soft Open) Vivanta by Taj Vivanta by Taj, Madikeri, Coorg Ginger Hotels Ginger Hotel Faridabad Ginger Hotel Vadapalani (Chennai) Ginger Hotel Andheri (Mumbai) Roots Corporation Ltd Roots Corporation Ltd Roots Corporation Ltd 91 79 116 Management Contract 62 Management Contract 161 Company Rooms Hotels Opened Till Date 2012/13 5 Hotels 509 Rooms 17 Taj Palace Marrakech, Morocco 18 Vivanta by Taj, Coorg 19 19 Upcoming Development – Balance of 2012/13Hotel Vivanta by Taj Vivanta by Taj, Gurgaon Gateway Gateway, Kolkata Gateway, Hubli Gateway OMR, Chennai Ginger Hotels Ginger Hotel Jaipur Ginger Hotel Kormangla (Bangalore) Ginger Hotel Noida (NCR) Ginger Hotel Amritsar Management Contract Management Contract Management Contract Roots Corporation Ltd 103 67 80 60 200 92 193 Management Contract 200 Company Rooms New Development in Pipeline 2012/13 New Hotels Opened Till Date 2012/13 8 Hotels 5 Hotels 995 Rooms 509 Rooms 1,504 Rooms 20 20 TOTAL DEVELOPEMNT FY 2012/13 13 Hotels Vivanta by Taj, Gurgaon 21The Gateway Hotel, Kolkata 22 The Gateway Hotel, Hubli 23 Upcoming Development– 2013/14 Hotel Taj Taj Airport Hotel, Terminal 1C, Mumbai Imperial Club by Taj, Tardeo, Mumbai Vivanta by Taj Vivanta by Taj, Dwarka Gateway Gateway, Hinjewadi, Pune Gateway, Raipur Gateway, Gondia Gateway, Faridabad Ginger Hotels (Six in Number) Management Contract Management Contract Benares Hotels Ltd Management Contract Roots Corporation Ltd 150 119 34 150 534 IHCL 250 Taj GVK Management Contract 275 9 Company Rooms New Development in Pipeline 2013/14 13 Hotels 1,521 Rooms 24Imperial Club by Taj, Tardeo, Mumbai 25 25 Vivanta by Taj, Dwarka 26 26 Sales and Marketing Initiatives 27 Strategy to Drive Incremental Revenues Surprises Campaign (Apr – Oct 2012) Tactical promotions campaign that is now launched every summer to address the seasonal drop in demand. Relaunched on 26th March 2012 for Summer 2012 Provides unique value proposition to customers with the following objectives – Drive SpendPAR – Drive Loyalty – Increase Capacity Utilization in lean months Campaign Programs – Flexi Credits – Suite Celebrations – Stay a Bit Longer 28Leisure focus – Domestic Dominance Taj Holidays – Summer, Monsoon, Winter Adopted a Destination led approach that we supported through an integrated marketing campaign. (Goa, Kerala, Indian Ocean, Small Palaces, Grand Palaces, Taj Safaris) Objective – tap the growing domestic holiday market in our lean season Advertising campaign was spread across pre-opening, summer and monsoon planks Interactive Roadshows in major feeder cities for travel trade and potential end users from the city 9 Leisure Focus – The High end Traveler Taj Hotels Resorts and Palaces Customer Outreach by Taj at Travel + Leisure Global Bazaar, New York , September 2012 Annual travel trade and consumer show organized by Travel + Leisure attended by over 5000 media, travel trade and consumers over 3 days in New York The innovative customer experience installation to communicate the Taj luxury positioning and service experience at the suites of the Taj Grand Palaces.Supported by promotional activity and editorial coverage Channel Outreach through Taj Travel Awards at Taj Mahal Delhi , July 2012 Instituted two years ago it is the only award ceremony initiated by a hotel group to acknowledge and felicitate the inbound DMCs in India for their support and contribution. This year’s event drew 200+ prominent DMCs and travel trade press from across the country for a splendid evening of Awards ceremony, sit-down silver service dinner and entertainment. 0 Driving Revenues Taj Hotels Resorts and Palaces Visibility Increased visibility through advertising campaign Enhanced focus on India Advertising in leading newspapers, general interest magazines, business magazines, lifestyle magazines and travel related magazines Driving Incremental Revenues from Corporates Winning back lost customer campaign Long stayer program for targeted accounts Channel based campaigns for Hit accounts 31Building the newest Brand Vivanta by Taj – Hotels & Resorts Launch of the signature Fuse 2. 0 Cocktails in an exclusive partnership with Diageo and Canali, August 2012 A Vivanta innovation launched in 3 key cities via a roadshow 6 signature cocktails each being a tribute to a Vivanta city Generated tremendous PR coverage and social media noise Brand Personification and Experiences Season 2 of both Divas of Rock and Urban Folk premiered at Vivanta Whitefield and Vivanta Begumpet Hyderabad.The Vivanta Motifs campaign went live across select media print, digital and social Awards & Accolades Vivanta by Taj is currently in the top 10 rank amongst 147 of the global pages on SocialBakers Analytics Vivanta Yeshwantpur Bangalore was ranked amongst the best 100 business hotels of 2012 by Wall paper UK Vi vanta Whitefield won the Emirates Leaf Design awards for the best commercial design world wide 2012 Vivanta Bekal voted the 8th best new spa destinations by Conde Nast India 32Enhancing the Brand Experiences The Gateway Hotels & Resorts The Gateway Hotel Residency Road Bangalore Relaunch, September 2012 Relaunched via a successful Customer and Media event Great PR Thrust, focus being revamped product post extensive renovations, the new lobby and spectacular F&B offerings Integrated marketing campaign Active Foods Campaign Extensive campaign marketing Gateway’s Active Food Conducted at all Coffee Shops with new menus, posters and tent cards across all hotels Supported by a media campaign (print, OOH, online and social) Contests in social media in the run up to the Olympics 3 Awards & Accolades Recognition in the Travel + Leisure Global Vision Awards for Leadership in Corporate Social Responsibility activities. The Awards recognize the outstanding efforts of individuals and org anizations that are working to preserve the world's natural and man-made treasures and contributing to building and sustaining livelihoods. Best Business Hotel Chain in India at the Business Traveler UK Awards 2012. Featured in Travel + Leisure World's Best Awards 2012 list of Top 100 hotels in the world and Top Resorts in Asia.Featured in the Travel + Leisure World's Best Awards 2012 list of Top City Hotels in Asia Amongst the Top 10 hotels in the world by Expedia. com's Insiders' Select based on consistent delivery of values, competitive pricing and impeccable customer service. Honoured as ‘Most Inspirational Eco Lodge of the Year’ at the 2012 Tour Operators for Tigers (TOFT) Wildlife Tourism Awards Ranked #1 Overseas Leisure Hotels in Asia and the Indian Subcontinent, Conde Nast Traveller UK Readers' Travel Awards 2012 34 Standalone Financial Performance Six Months ended September 30, 2012 35 Profit and Loss Account H1 2012/13 /Crores Net Sales/Income from Operations Other Operating Income Total Income a. Consumption of Raw Materials b. Employee Benefits Expense c. License Fees d. Fuel, Power and Light e. Depreciation and Amortisation Expense f. Other Expenditure Total Expenditure Profit/ (Loss) from operations before Other Income, Finance Costs and Exceptional Items Other Income Profit/ (Loss) before Finance Costs and Exceptional Items Finance Costs Profit/ (Loss) after Finance Costs but before Exceptional Items Exceptional items Profit/ (Loss) before tax Provision for Taxes Profit/ (Loss) After Tax 2012/13 775. 8 775. 48 73. 05 240. 22 51. 97 79. 41 63. 08 244. 62 752. 35 23. 13 33. 23 56. 36 53. 23 3. 13 (6. 70) (3. 57) (1. 24) (2. 33) 2011/12 727. 10 727. 10 64. 69 226. 91 44. 01 65. 43 55. 50 219. 77 676. 31 50. 79 35. 47 86. 26 50. 08 36. 18 9. 81 45. 99 16. 33 29. 66 % Change 7 7 (13) (6) (18) (21) (14) (11) (11) (54) (6) (35) (6) (91) – 36 Turnover H1 2012/13 ` crores Room sales F&B sales Other Income Management Fees 2012/13 354. 76 317. 80 52. 88 50. 04 2011/12 343. 89 287. 65 49. 55 46. 01 % Change 3 10 7 9Total Income Non – Operating Income Total Income including Other Income 775. 48 33. 23 808. 71 727. 10 35. 47 762. 57 7 (6) 6 Room revenue growth driven by 3% increase in average daily rooms sold including capacity increase Higher F&B sales due to increase in restaurant sales and banqueting business Management fee linked to higher turnover and profitability of non IHCL hotels 37 Expenditure Raw Materials Cost – ` 73. 05 crores Increase in line with 10% higher F&B revenue and commodity input cost increase Staff Cost – ` 240. 2 Crores Increase due to launch of new hotel in Bangalore, wage settlements, annual increments etc. License Fees – ` 51. 97 crores Increase on account of higher turnover of licensed properties Fuel, Power & Light – ` 79. 41 crores Higher on account of increase in rates and new capacity 38 Expenditure Depreciation & Amortisation – ` 63. 08 cro res Higher due to opening of new hotel in Bangalore and renovations in select hotels Other Expenditure – ` 244. 62 crores Increase in variable costs linked to business, full period cost of new hotel in Bangalore & higher A&P spendsFinance Costs – ` 53. 23 crores Increase due to ECBs taken to retire debt in Company’s offshore subsidiary 39 Exceptional Items Expense of ` (6. 7) crores in the current year against an income of ` 9. 8 crores in the previous year `/ Crores Particulars Income/(Expense) on surrender of a project (Net off accumulated capital expenditure) Exchange gain/(loss) Total 2012/13 (6. 7) (6. 7) 2011/12 10. 6 (0. 8) 9. 8 40 Statement of Assets & Liabilities September 30, 2012 ` / CroresShareholders’ Funds Non- Current Liabilities Long-term borrowings Long Term Provisions Other Long Term Liabilities/ Deferred Tax Liabilities Current Liabilities Short Term borrowings Other Current Liabilities Trade Payables/Short-term provisions Equity and Li abilities Non-current Assets Fixed Assets Non-current investments Long Term loans and advances Other non-current assets Current Assets Current Investments Short term loans and advances Other currents assets/ cash & bank/ inventories/ trade receivables Assets 71. 28 112. 50 229. 51 7614. 34 71. 87 227. 05 7363. 8 2066. 91 3622. 19 1495. 19 16. 76 2068. 36 3622. 19 1346. 93 27. 58 247. 52 406. 77 168. 88 7614. 34 122. 57 789. 58 280. 08 7363. 98 2287. 24 78. 20 757. 17 2039. 94 95. 93 668. 07 September 30, 2012 3668. 56 March 31, 2012 3367. 81 41 Consolidated Financial Performance Six Months ended September 30, 2012 42 Major Taj Group companies Subsidiaries Indian Piem Hotels Ltd Taj SATS Air Catering Ltd Tifco Holdings Ltd [Investment Company] Benares Hotels Ltd Inditravel Pvt Ltd United Hotels Ltd Roots Corporation Ltd Overseas International Hotel Management Services, Inc.St James Court Hotel Ltd IHMS (Australia) Pty Ltd Taj International Hotels (HK) Ltd [Investment Company] Samsara Properties Ltd [Investment Company] Others 43 Associates Oriental Hotels Ltd Lanka Island Resorts Ltd TAL Lanka Hotel PLC Others Joint Ventures Taj GVK Hotels & Resorts Ltd Taj Madras Flight Kitchen Pvt Ltd Taj Kerala Hotels & Resorts Ltd Taj Karnataka Hotels & Resorts Ltd Taj Safaris Ltd TAL Hotels & Resorts Ltd [Investment Company] Others Consolidated Financial Results H1 2012/13 Consolidated results show a loss of ` (91) crores against a loss of ` (70) crores.Key factors influencing the consolidated results are listed below: Domestic Portfolio – Lower profit from operations, lower dividend income & foreign exchange translation loss on borrowings – Previous period had an exceptional gain on account of interest income on surrender of a project International Portfolio – Samsara Properties Limited debt fully retired through equity funding from IHCL – Despite growth in turnover, US hotels continue to face challenges 44 Consolidated Financials H1 2012/13 `/ Crores Net Sales/Income from Operations Other Operating Income Total Income a. Consumption of Raw Materials b.Employee Benefits Expense c. License Fees d. Fuel, Power and Light e. Depreciation and Amortisation Expense f. Other Expenditure Total Expenditure Profit/ (Loss) from operations before Other Income, Finance Costs and Exceptional Items Other Income Profit/ (Loss) before Finance Costs and Exceptional Items Finance Costs Profit/ (Loss) after Finance Costs but before Exceptional Items Exceptional item Profit/ (Loss) before tax Less: Provision for Taxes Less: Minority Interest in Subsidiaries Add:Share of Profit(Loss) in Associates Profit( Loss) after Tax 2012/13 1666. 37 1666. 37 177. 56 629. 05 84. 04 143. 30 145. 2 492. 55 1671. 62 (5. 25) 35. 03 29. 78 81. 76 (51. 98) 1. 28 (50. 70) 8. 71 (24. 67) (6. 77) (90. 85) 2011/12 1455. 50 1455. 50 160. 72 540. 84 66. 73 117. 27 129. 29 417. 68 1432. 53 22. 97 39. 81 62. 78 110. 45 (47. 67) 4. 26 (43. 41) 27. 05 (10. 56) 10. 69 (70. 33) % Change 14 14 (10) (16) (26) (22) (12) (18) (17) (123) (12) (53) 26 (9) (70) (17) 68 (134) (163) (29) 45 Consolidation Snapshot `/Crores Revenue 2012/13 IHCL Standalone Subsidiaries Joint Ventures Associates Total Less/(Add): Inter Company Eliminations Consolidated Performance 1716. 7 50. 3 1666. 4 1498. 5 43. 0 1455. 5 775. 5 862. 1 79. 1Profit after tax & Minority Interest 2012/13 (2. 3) (43. 7) (8. 6) (6. 8) (61. 4) 29. 5 (90. 9) 2011/12 727. 1 701. 1 70. 3 2011/12 29. 7 (80. 0) (4. 2) 10. 7 (43. 8) 26. 5 (70. 3) 46 Treasury Liquidity raised/ committed Received ` 373 crores in June, 2012 on conversion of warrants by Tata Sons Ltd Raised ` 200 crores by issuing low coupon unsecured NCDs Funds Utilized Repayment of ECB in April, 2012 – $ 30 million Repayment of Fixed Deposits between April to October, 2012 – ` 285 crores 47 International Hotels Occupancy (%) Hotel Name H1 2012/13 H1 2011/12 ARR ($) H1 2012/13 H1 2011/12 RevPAR ($) H1 2012/13 H1 2011/12The Pierre, New York 63 67 620 571 391 382 Taj Boston 74 71 296 287 218 202 Campton Place, San Francisco 79 75 290 287 229 216 St. James Court, London 88 85 318 299 278 253 Blue, Sydney 75 76 221 230 165 176 48 Overview of Taj Group – H1 Particulars Number of hotels 2012/13 115 2011/12 110 2010/11 107 2009/10 103 Rooms Inventory 13,887 13,237 12,795 12,243 Total Revenue – ` / crores 2,288 2,069 1,822 1,603 Total Revenue denote arithmetic aggregate of turnover of all hotels/units irrespective of ownership, including Management Contracts 49 Thank you 50

Powerful Ways to Open a Class Presentation

Powerful Ways to Open a Class Presentation Powerful Ways to Open a Class Presentation Many academic institutions require students to submit a slideshow presentation and discuss a topic in front of a group of people. The purpose is to help students improve verbal communication skills while providing information to several people in a single setting. While grading this project depends solely on the professor, a student who is able to deliver an informative and engaging presentation to the class has a better chance of getting a good grade. First impressions are key; the speaker sets the tone of the discussion. Audience members decide in the first minute whether they want to listen. To attract and maintain listener interest, here are powerful ways to open an introduction: Tell a joke. Start things on a positive note by making a non-offensive joke and engage your listeners. Propose a problem. To get attention, start by stating a current problem that most people can relate to and tie it into your discussion. Share a quotation. Choose a quotation from an important figure that relates to your topic. Recite it in a clear, modulated tone. Ask for a response. Start a discussion by asking a question like â€Å"How often do you use the Internet?† This question provides your audience the opportunity to participate before you continue the presentation. This also encourages them to later ask questions. Catch listeners off-guard. A radical statement or command can surprise people. For instance, if you are presenting a topic about conformity, first ask everyone to stand up. Then, ask why they did so. This opens the topic in an unexpected and unique manner. Tell a story. A personal anecdote or a tale can be used to set the tone of a presentation. Keep it brief and omit unnecessary details. This, ideally, helps listeners connect to you and your topic as they listen. Use a visual aid. When you begin your slideshow, allow your audience to comment on a photo or a video in the presentation to establish participation from the beginning. Choose the technique that works best for you when introducing your topic of discussion to the class. A slideshow presentation relies on both the careful construction of the conversation and its delivery. Capturing your listeners’ attention makes the presentation more likely to be active and engaging. No matter how interesting your topic, you may lose audience interest if you don’t make an effort to captivate them at the start. in Ontario provides a variety of services for all your academic needs. We are a team of professional writers who can help with presentations, including PowerPoint. Your slideshow will meet academic standards and save you time to practice your delivery.

Habits and Traits of Millipedes, Class Diplopoda

Habits and Traits of Millipedes, Class Diplopoda The common name millipede literally means thousand legs. Millipedes can have a lot of legs, but not nearly as many as their name suggests. If you compost your organic waste or spend any time gardening, youre bound to find a millipede or two curled up in the soil. All About Millipedes Like insects and spiders, millipedes belong to the phylum Arthropoda. This is where the similarities end, however, as millipedes belong to their own class- the class Diplopoda. Millipedes move slowly on their short legs, which are designed to help them push their way through the soil and vegetative litter. Their legs remain in line with their bodies, and number two pairs per body segment. Only the first three body segments- those of the thorax- have single pairs of legs. Centipedes, in contrast, have single pairs of legs on every body segment. Millipede bodies are elongate and usually cylindrical. Flat-backed millipedes, as you might guess, appear flatter than other worm-shaped cousins. Youll need to look closely to see a millipedes short antennae. Theyre nocturnal creatures that live mostly in the soil and have poor sight when they can see at all. The Millipede Diet Millipedes feed on decaying plant matter, functioning as decomposers in the ecosystem. A few millipede species may be carnivorous as well. Newly hatched millipedes must ingest microbes to help them digest plant matter. They introduce these necessary partners into their systems by feeding on fungi in the soil, or by eating their own feces. The Millipede Life Cycle Mated female millipedes lay their eggs in the soil. Some species lay eggs singly, while others deposit them in clusters. Depending on the type of millipede, the female may lay anywhere from a few dozen to several thousand eggs in her lifetime. Millipedes undergo incomplete metamorphosis. Once the young millipedes hatch, they stay within the underground nest until theyve molted at least once. With each molt, the millipede gains more body segments and more legs. It may take many months for them to achieve adulthood. Special Adaptations and Defenses of Millipedes When threatened, millipedes often curl into a tight ball or spiral in the soil. Though they cannot bite, many millipedes do emit poisonous or foul-smelling compounds through their skin. In some cases, these substances may burn or sting, and may even discolor your skin temporarily if you handle one. Some of the brightly colored millipedes secrete cyanide compounds. Large, tropical millipedes can even shoot a noxious compound several feet at their attackers eyes.

Promotion on London dungeons Essay Example | Topics and Well Written Essays - 250 words

Promotion on London dungeons - Essay Example All visitors who seek information on all available tourist attractions will access these guide and in so doing they get know about London dungeons. Another mode of advertisement applied to market the London dungeons is Dictionaries and translators. These are made in a way to define all the characteristic terms of this attraction and the popular events and performances (Andrews, 2004, p.134). In so doing, the advertisements are accessible by school children and the other learning institutions. The definitions and translations create interests on the side of students to visit and witness the events defined and translated. Another mode of advertisement is through the media and the internet. They advertise and place tickets on their website, indicating the group discounts available and the age groups for which these are applicable. Advertisements are also made through printing photos that shows the popular events and attractions of London dungeon. Such photos are required to be purchased and used as gate passes for eligible entry. Bill boards are also used by Merlin Entertainments Group to advertise London dungeons. For 2012 Olympics, the Merlin Entertainment group needs to intensify its advertisement strategies to reach all the potential visitors who will be coming to London. There should also be established strategies to make tickets, gate passes and entrance photos easily and accessible from various destinations and