Working Capital Ratio

The VAT rate in the UK has been reduced, temporarily, in an attempt by the UK government to stimulate the economy and get people spending. Whether or not this will work remains to be seen. However, implementing the change can be tricky – invoices have to be amended, spreadsheets and databases need to be changed, and things can get complicated!

Some people prefer to use the ‘fraction’ to work out VAT. When the VAT rate was 17.5% the fraction was 7/47. Now, the fraction needed is 3/23. This means that the total (VAT inclusive) price is 23 23rds, the VAT amount is 3 23rds, and the NETT price is 20 23rds.

To add VAT at 15% on to a sale- multiply by 1.15 – Example £50.00 + VAT = £57.50. Alternative, divide by 20 and multiply by 23.
To calculate how much the VAT will be on a sale, multiply by 0.15 – Example VAT on £50.00 = £7.50. Alternative, divide by 20, multiply by 3.
To work out the NETT price (price excluding VAT) DIVIDE by 1.15 – Example £57.50 less VAT = £50.00.Or, use the fraction – divide by 23 then multiply by 20
To work out the amount of VAT on a VAT inclusive price, it is much easier to use the fraction – divide by 23 then multiply by 3. Otherwise, divide by 7.667 to get the VAT amount.

If you’re interested, 115/15 = 7.6666 etc.

Finally – if the product already has 17.5% VAT added and you want to sell it with 15% VAT – here’s what to do.

Work out the NETT price by using the old fraction 7/47 – Example £117.50 divided by 47, multiplied by 40 = £100
Add the new VAT using the new fraction 3/23, Example £100 divided by 20, multiplied by 23 = £115.00

Or – multiply by 0.97872 – Example £117.50 * 0.97872 = £114.9996 (ok, you need to round up!)

This will be very basic to a lot of people – my apologies if I’m stating the obvious. The number of invoices we have received in the last couple of weeks with the wrong amounts on (and the time we spent in the office trying to figure it out) indicate that some people need reminding of the basics!

Hopefully this will help – Good luck with your calculations!

Remember that the 15% VAT rate is applicable until the end of December 2009 – so in 13 months we can change it all back again!

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It’s happened to me, and it’s happening to a lot of people right now. It’s been going on for the last few decades, and has reached its boiling point. I’m talking about consumer debt. We owe more and more each year, and it’s increasingly more difficult to get out of credit card debt. The offers are very enticing, the merchandise out there we can’t be without, and it’s just too difficult to avoid those impulse buys. It used to be that $20 was considered an impulse buy, something you’d pick up on your way to the cash register. Now, it’s not unheard of to spend $100 on impulse purchases on stuff you don’t need. So after years of uncontrolled spending, you end up deeper in debt.

I’m going to share a true story of a friend of mine. Her case is rather extreme, but not unique. Just this week she was sharing her problems with me and asked me for advice. It turns out that Janet had gotten into debt over the last 3 years or so on about 8 separate credit cards. She also had an interest-only ARM first mortgage and an equity line of credit on her home. As you may be aware, credit card companies and many banks recently have started to tighten up their risk tolerance criteria and decided to re-evaluate customers’ accounts and close them out or decrease credit limits depending on the customer’s credit score and risk. This is precisely what happened to her. Her 5.5% line of credit was closed out and she could no longer borrow against it, but still had to pay off the balance. When she called two of her credit cards to request an interest rate reduction, they re-evaluated her accounts and actually dropped her limits without giving her any reduction in interest rate. Within a few months, her available credit had been reduced to what she owed, and she was faced with about $25K in credit card debt between 5.9% and 24%. Her minimum payments were consuming all the money she made and was having a hard time paying her bills each month. Out of panic, she called her bank and asked for a debt consolidation package. The bank was happy to oblige, and, she ended up with a single consolidated loan of $25K at 15.99%. The monthly minimum payment came to $479. What closed the deal was that all her debt would be consolidated to a single payment, which would be easier to manage than half dozen or so payments to different credit card companies. However, what she didn’t realize is that the single payment was equal if not greater than the sum of all the previous payments she had before. In fact, some of the accounts that were rolled up into the consolidated 15.99% loan were at less than 8%. That was a bad deal. Other accounts were charging 22% and 24%, which made sense to consolidate, but not any accounts that were charging less than the consolidated interest rate of 15.99%.

In spite of the loan consolidation, Janet’s still facing difficulties paying off her debt, having to come up with almost $500 each month to make the minimum payment. At 15.99%, this loan will not go away for a very long time. She’d been toying around with the idea of liquidating a 401K retirement account from a former employer, and asked me what I thought. She still has another 401K account to fall back on, from her current employer. So we did some comparisons. I asked Janet how much her 401K was earning, was it 2, 4, 6% per year? Actually, it was earning nothing. It was all in mutual funds, which weren’t performing well. The value of the 401K account totaled just over $30K. Taking into account a 10% penalty for withdrawing before retirement, and income tax on the rest, she’d net about $15K (depends on her purchase price and actual gains, if any). So we looked at the pros and cons of deciding to sell or not to sell.

Pros of selling the 401K to pay off her debt

1. Eliminate a 15.99% debt at the cost of a 0% return from the investment.

2. Free up $500 each month by not having to make payments against the debt.

3. Improve her income to debt ratio and subsequently her FICO score.

4. Regain credit and have some available for an emergency.

5. Be better financially prepared for possible unemployment.

Cons of selling the 401K to pay off her debt

1. She has 30K less for retirement plus the future value of any potential gain

2. 10% penalty, or $3K goes to Uncle Sam

3. Regular income tax is paid on any capital gains

Well, from an economic perspective, let’s consider the cost of the debt vs. the potential gain from the 401K account. If the mutual funds were to return 15.99% each year, then having a debt of the same amount at 15.99% would be a break even proposition. If Janet’s investments were to return 20%, then she’d be better off keeping that money invested.

However, there are two situations to consider that make the decision rather easy. First, her 401K is not making any money right now. So eliminating a 15.99% interest debt would create a relative gain. That is, she wouldn’t be making a 15.99% return, but she also wouldn’t be paying it out to a bank in finance charges. That’s a net gain in relation to not having a loss. The other situation, and most importantly, is her poor cash flow and not having any left over cash each month available for discretionary spending or an emergency. Having to shell out $500 each month on a minimum payment that will take several years to pay off is a huge burden, especially in this economy with high unemployment and the risk of a layoff. What if she lost her job, how would she make the payment? Would she have to file bankruptcy? At the moment, she’s not able to save any money, so she can’t even build an emergency fund to cover her expenses in case she did lose her job.

The advice I gave Janet was to definitely sell off that 401K and get rid of the $25K debt as soon as possible. The goal is to eliminate that liability and get her cash flow situation improved. After the consolidated loan is paid off, she should take the $500 left each month and put it in savings. Create an emergency fund of at least 6 months worth of expenses, and keep it liquid in a money market account. After the emergency fund is properly set up, then start putting that money away in an IRA.

Having lived through this difficult experience, hopefully Janet will be able to avoid these situations. She’s felt the pain, and now she’s on her way to recovery. I hope she can stay afloat long enough to get out of debt completely, and then rebuild that retirement account with a clear conscience.

At the beginning of the article I said that it happened to me also. Back in 1996, an ex-girlfriend put me in a huge debt. I was about $13K in debt (which doesn’t seem like much now) and I was drowning in minimum payments. I could hardly buy food and pay my utilities. I was driving a $500 1982 Honda Prelude and couldn’t afford to go out with my friends. I mentioned to a friend my situation and he gave me the same advice I gave Janet. I had about $12K in stocks I’d purchased through Charles Schwab, but was hesitant to touch them because they’d gone under water. So my friend asked me how much I was paying in interest rates vs. how much my stocks were returning. The answer was 18% and 0%. The solution was then so obvious. I immediately put in a sell order with Schwab, and within 2 weeks had the cash in my hands. In the next 2 billing cycles, I paid off all my credit cards. Then I was pleased to find my checking account had a surplus of cash each month, because I no longer had to make those minimum payments. Being young and still unwise, I used the newly found money to make payments on a sports car. Maybe that wasn’t the best decision, but at the age of 26, my newly found economic freedom was refreshing and enlightening. I have since been more aware and very conscious of when I borrow, why I borrow, how I borrow, and what effect that will have on my cash flow and net worth. I hope to never repeat my mistake from 1996, and will take every opportunity to help friends like Janet with similar situations. I hope you found both of these true stories educational and enlightening. Best of luck.

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A business wishing to improve its profitability must undertake certain steps that can guarantee to provide the desired results. One of the things that the management staff must give important notice is the production and productivity of the business as a whole. As has been known, to increase the profitability of an enterprise, certain things must be improved in the workplace. To increase productivity is one of these.

Productivity is defined in economics as the measure of the production output per unit of production input. This refers to the ratio of output and input in the production process.

Production is the process of converting resources into finished goods for consumption. Technology is needed in the process of production. In fact, the advancement in technology has greatly helped in easing out production. Thus, you can definitely say that the aspect of technology is very important in the whole equation.

Aside from technology, there is also another component that is very difficult to eliminate. This is the aspect of labor. Human capital contributes a lot in the improvement of productivity level. In fact, you can even say that the driving force in a business is human capital. Other capital, such as monetary and technology, may have secondary roles, but these are still significant as well.

To capitalize on human is to increase productivity. This cannot be over emphasized at all.

To increase production, a factory must have the necessary number of labor force to meet production target. To increase production, it would be important to augment the number of workers. However, increasing the number of workers does not always result to increased productivity.

Depending on the nature of a business, many businesses choose to minimize the number of workers in their factories. The rising labor costs in developed countries can eat much of the production costs resulting to decreased competitiveness in the prices of certain products. However, minimization of labor may also lead to other disadvantages.

Intensive training and consistent upgrading of educational levels and skills can help in increasing the productivity level of workers. Humans have the capacity to improve and learn new things. Businesses have the responsibility to increase the skills and level of experience of their workers.

Motivation to work can also lead to increased productivity. Incentives and improved working condition in the working place can contribute to the improved productivity level.

When a worker is happy is his workplace, he is likely to be more productive.

The advancement of technology helps a lot in providing leverage in the workplace. With technological advancements, products that used to take a day to produce can then be processed and finished in just a few hours. The reduction in production hours can be attributed to the improvement of technology utilized in the workplace.

How to increase productivity for individuals?

Enhancement of skills and improved awareness of new technology are keys to increase the productivity level of individuals. The workforce must have consistent improvement. Advancement in good technology can help in achieving work leverage.

To increase productivity, it is important to account the valuable resources. The resources may encompass the human capability and technology.

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Let’s save a girl child and stand against the genocide that is taking place in the society. Feticide is the most dastardly form of violence against women. Since the technology for sex determination first came into being, sex selective abortion has unleashed a saga of horror in India. In fact nature intended the womb to be a safe space place for nurturing and grooming the foetus before the child could take birth. But today, doctors have made it the most unsafe space for the female child by unleashing the terror of feticide. Today a girl child is several times more likely to be eliminated before birth in India than die of various causes in the first year of her existence.

Save a girl child: Sex determination and sex selection

Although foetal sex determination and sex selection is a criminal offence in India, the practice is rampant. Private clinics with ultrasound machines and other latest technologies are doing brisk business. Everywhere, people are paying to know the sex of an unborn child and paying more to abort the female child. The technology has even reached remote areas of the country through facilities like mobile clinics. People are getting sex determination done even for the first child.

Save a Girl Child: Historical connection and overall discrimination against the girl child

Earlier when the technology was not available to know the sex of the foetus, the girl child used to be killed by putting a sand bag on her face or strangulating her or some poison used to be applied on the breasts of the mother. The irony was that neither mothers nor their family members used to express any kind of sorrow on the deaths of their baby daughters. Now the scenario has changed. With the help of new technologies one can easily detect the sex of the foetus. So the practice of female infanticide has been replaced by female feticide.

Save a girl child: Discrimination against the girl child and women

Female feticide and infanticide is not the only issues with a girl child in India. Actually at every stage of life she is discriminated and neglected for basic nutrition, education and living standard. When she is in the womb, she is eliminated before she can enter the world. If by chance she takes birth then at the time of birth her relatives pull her back and wrung her neck and after killing her she is thrown into a trash can. If she gets lucky to survive the early feticide and infanticide then her childhood is not more than a punishment with her brother getting all the attention with new shoes, dresses and books to learn while she is gifted a broom, a wiper and lots of tears. In her teenage, she misses nutritious food to eat and gets only the left over crumbs. During the age when she should be in college she is hurriedly “married off” leading to conditions where she remains ever dependant on others for her survival. She does not have either social or economic independence. Further her illiteracy, lack of education results in unwanted and early pregnancies, high fertility rate. This further aggravates the overall condition of females in the country. Again if this female gives birth to a girl child, the whole journey cycle of murder and discrimination begins all over again.

Save a Girl Child: Culpability of the Medical profession

As per some studies the industry of ultrasound and sonography, sex-selection and female feticide is around 500 crores in India and this is run through small clinics, midwives, unregistered doctors and big hospitals. They conduct the abortions very secretly and many a times they become the reason for the death of many women. Many Doctors are involved in this widespread malpractice to make easy money. Actually it is a very profitable business. The machines have become cheaper, so even a new medical graduate can quickly set up a business. It may be illegal but it’s very rare that in India medical council debars anyone for ethical malpractice.

Save a girl child: Responsibility and accountability of the medical profession

It is high time that now Doctors are made responsible and accountable. In fact they are the ones who had aggressively promoted the misuse of technology and legitimised feticide. They created a weapon of mass destruction. Worst of worst some Doctors feel that they are doing a great social service and feel happy to provide this service to parents desperate to have a son, in the belief that they are preventing the birth of an unwanted child.

Save a girl child: The oblique way of sex determination

Today when the laws are getting stricter the method of revealing the sex is becoming more oblique. Now either the doctor will hand out blue or pink candy to the family members as they leave or make a remark during the examination by saying something like “Your child will be a fighter” or “The baby is like a doll.” It is a clear fact that since the implementation of the legislation has taken place, the business has gone underground. The proof is the ever increasing number of feticide around the country especially in north India.

Save a girl child: Under-the-table fee for sex determination

Now the Doctors who disclose the sex expect an under-the-table fee for breaking the law, ranging from a few hundred rupees in poorer areas to several thousand in more prosperous regions. The plain and simple truth is that the medical fraternity has not been sufficiently regulated in India and there is no sufficient deterrent or awareness even among the medical fraternity which can prevent these malpractices from taking place in the first instance.

Save a Girl Child: The Actual problem in terms of figures

Let’s now look at the figures which speak the truth for itself. According to the last official census figures, India with its nationwide ratio of 933 women for 1,000 men had a deficit of 35 million women when it entered the new millennium. Experts are calling it “sanitised barbarism”. UN figures tell that about 750,000 girls are aborted every year in India. It as genocide: “More than 6 million killed in 20 years. That’s the number of Jews killed in the Holocaust.”

Save a girl child: Abortion of a million foetus in a year

Demographic trends indicate India is fast heading towards a million female foetuses aborted each year. In India, if the 1991 Census showed that two districts had a child sex ratio (number of girls per thousand boys) less than 850; by 2001 it was 51 districts. The irony is that the nation of so called goddess and mothers still follows a culture where people idolize the birth of son and mourn the birth of daughters.

Save a girl child: Income level directly proportional to sex selective abortion

Ironically, as income levels are increasing, sex determination and sex selection is increasing all over India. The most influential and affluent pockets have the worst sex ratios. Take Punjab for instance – 793 girls for every 1,000 boys against the national figure of 927. Or South Delhi – one of the most affluent localities of the Capital – 760. In many regions of Punjab, Haryana and Rajasthan; the sex ratio of girls for every 1000 boys was mere 745 or 754 or at 779 respectively. Based on the number of births in Delhi every year and the sex ratio across the capital – 814 girls for every 1,000 boys about 24,000 female fetuses are aborted in the capital every year, and about one million across the country.

Save a girl child: Warning of unexpected social problems in the near future

Abortion rates are increasing in almost 80% of the Indian states and especially in Punjab and Haryana. These two states have the highest number of abortions every year. UNICEF has warned that unless steps are taken to address the problem across the country, India will soon face unexpected social problems like men unable to find brides, gaps in the work force and increased trafficking of women.

Save a girl child: Answering ethical questions

The other side of the coin is the issue that attempts to regulate women right to abortion inevitably raise delicate ethical questions, but for a contrary like India this is not a pro-choice or pro-life issue. “Equality is a fundamental right,” but where is the gender equality when one million girl fetuses are destroyed every year before birth itself. Therefore we need to understand the fact that our situation is really alarming and extraordinary and preventing this discrimination takes precedence over arguments about women reproductive rights.

Save a girl child: The taboo surrounding sex selective abortion

One more major problem is that despite the prevalence of the ghastly and inhuman phenomenon, the decision to abort a female fetus remains a taboo, and it is difficult to persuade women to talk about the issue. If women themselves become party to the problem then how can we ever think about finding the solution?

Save a Girl Child: Misuse of technology

The social evil of discrimination and marginalization of women and killing of girl child is ironically deep rooted in Indian ethos and the most shocking fact is that the innovative and hard high end technologies have actually helped in the brutal killing of the Indian girl child. Earlier it was infanticide. Now it is easier with feticide with technology at the helping end. Innovative techniques, like biopsy, ultrasound, scan tests and amniocentesis, devised to detect genetic abnormalities, are highly misused by number of families to detect gender of the unborn child. These clinical tests are highly contributing to the rise in genocide of the unborn girl child.

Save a girl child: The technology as the devil

In patriarchal States like Rajasthan where infanticide has existed for centuries, this new technology has many takers as it is easy and secretive. There are far less questions to be answered when you abort a girl child rather than kill a baby girl. Today, people pretend overtly that they are modern and that they do not discriminate between a girl and a boy. But when the actual situation arises they do not hesitate to quietly go to the next village and get an ultrasound done and even abort the girl child. Here the technology has become the uncontrolled beast and demon rather than the angel.

Save a Girl Child: Related & Associated issues

Apart from the means of killing of the girl child “feticide” is also one of the most common causes of maternal mortality. Law permits that the she sex of the foetus can be only determined around 14-16 weeks. Because of this most of the sex selective abortions are planned late and this leads to a very high chance of maternal mortality. Either way the woman suffers.

Save a girl child: Feticide a symptom of a larger problem

We must understand the fact that in fact Feticide is a symptom of larger and wider problem related to marginalization and discrimination against women through various social, cultural and economic bias and practices. Feticide is related to issues as varied as privatisation of medical education and dowry. For example Karnataka is a state in India with the highest number of private medical colleges. Here healthcare has turned into a commodity without proper regulation and control leading to terrifying consequences like illegal abortions and feticide.

Save a girl child: Affluent farmers and feticide

Another ironical phenomenon is that wherever agricultural green revolution has happened with resultant increase in income among farmers, feticide has increased. The connection is simple. With more landholdings and wealth inheritance the dowry demands has increased and therefore birth of a daughter is considered as an economic liability. Today, people don’t even want their daughters to study higher as a well-educated groom is likely to demand more dowry.

Save a girl child: Male child selection in nuclear families

Even the creation of small and nuclear families have come at the cost of the girl child. Parents who are opting for one child are most likely to go for a male child rather than a female child.

Save a girl child: Demand Vs. Supply debate

Another issue that has been put forward by the medical community to absolve their own culpability in this whole malpractice is the demand and supply debate. Doctors say there is a social demand and they are only fulfilling it. They argue that social attitudes must change. However they are ignoring the fact that in this case supply fuels demand. The easier the technology is available the more likely is the chance of abortion and feticide.

Save a girl child: Tougher regulation and control

There is no option other than tougher regulation and control of the “technology and the medical practice” as technology in the hands of greedy, vested interests cannot be neutral. There is a law in place to prevent misuse of the technology and it must be enforced strongly. On the other hand the solution for curbing the increase of feticide can only work through increasing awareness and overall empowerment of women in every aspect.

Save a girl child: Need for female youth icons and role models

Women participation in workforce, having disposable incomes and their making a contribution to larger society will make a difference to how women are seen in the society. Female youth icons and role models are definitely making an impact in changing the overall perception of the society which has been highly discriminatory till now.

Save a girl child: Laws against violence and discrimination of women

Other issues which are attached to the overall discrimination and marginalization of women include the laws for violence against women such as dowry, domestic violence, rape which are directly in the control of a largely inefficient and corrupt police force which in fact is biased against women with its colonial hangover and resultant approach of doing things. In any case of violence and discrimination against women the whole onus and burden of the case is always put on the women involved.

Save a girl child: Urgent need for police reforms

It’s high time that police reforms take place and the country gets a modern police force which is more sensitive to the issues of the society rather than the current one which exists to please the whims and the fancies of their political masters. Today even though good and tough laws exist still the offenders get away with ease. Just like many other laws of the country the law preventing sex determination and sex selection exits but enforcement is a big question mark.

Save a girl child: Myths to be shattered

Another myth that needs to be shattered is that feticide exists among illiterate and less affluent of the society. According to a survey there is a 28.32 % increase in the number gainfully employed and working women in India in the last two decades. But at the same time, what is more shameful and ironical is that there is a subsequent increase in the number of pregnancy terminations or abortions by working women.

Save a girl child: Abortions by working women

The reasons stated behind the practice of abortions by working women are: They want a small family; they want better career prospects; they want a male child and they do not want daughters. Many of these women justify sex selection and abortions because they think that if they deliver a baby boy then they are looked upon in the family. Also, they do not want their daughters to suffer the hardships a girl has to face. Besides that they find themselves unable to afford the dowry expenses the parents of a girl child have to bear. “Since maintaining the high living standards has become so expensive, who will save for her?” say modern mothers. These are the ’serious’ reasons these literate and modern women give for not giving birth to a girl child. But they are forgetting that had their mothers thought the same way, they would have also met the same fate.

Save a girl child: The bane of consumer culture

Further the whole problem is just an extension of our consumer culture. If someone can afford to buy a Mercedes, they feel they can afford to secure themselves a son also. If they can pay for an ultrasound, then they don’t need to have a daughter – that’s the logic.

Save a girl child: Outdated social practices and their consequences

Dowry is a big issue for the urban elite because the amount which people are expected to pay as dowry is astonishing and ridiculous. Over that is the cost of the obscenely extravagant Indian weddings. Aside from the costs of dowries and marriages, there are other reasons why daughters are seen as less desirable like there is general belief that sons will look after their old parents and daughters are anyway to go to a different household and are therefore of not much use in the long run. The social and cultural settings are negatively biased against women. After marriage, a woman traditionally lives with the family of the husband, leaving her own parents to be looked after by a son, if there is one, in their old age. Sons carry on the family name and often the business, usually inherit the property and perform the last rites. All these contribute towards a negative bias against the girl child even before she takes birth.

Save a girl child: The misconception that poverty leads to feticide

From the above analysis we can clearly see that it’s a misconception to think that this is a problem related to extreme poverty. It’s quite rampant in upper and middle class families. Female feticide is very high in Punjab and Haryana – some of the best-off states in the country. Even money has not brought attitudinal change. In fact more money has led to aggravation of the whole problem. The mind-set remains – girls are not important, girls are a burden, and sons are more useful. With new lifestyle culture in India, when people are rich they want to spend their money on things, not on dowries or marriages for their daughters. So we can see that how social and cultural practices like dowry and extravagant marriages are in fact contributing to the overall menace of female abortion and feticide.

Save a Girl Child: Law against feticide and Implementation of the law

After almost a decade of delays, the Prohibition of Sex Selection Act came into force in February 2003, aimed at preventing the use of ultrasound examinations for sex determination. Any person including pregnant women who seek help for sex selection could be sentenced to a three-year prison sentence and fined 50,000 rupees, or $1,200, while If any doctor is found guilty of this malpractice, he can face suspension of his registration by the state medical council.

Save a girl child: The Act that was passed in 2003

Pre-conception and pre-natal diagnostics techniques (prohibition and sex selection) Act, which came into effect on 14th February 2003, was as a replacement of the pre-natal diagnostic techniques (regulation and misuse amendment) Act 2002, that said any kind of sex selection in pre or post pregnancy is prohibited.

Save a girl child: Creating acts and laws not sufficient to deal with the problem

But these acts seem not to be casting much effect on the dark shades of human deeds. No case has come to court, and campaigners against the practice of prenatal sex determination complain that the legislation is impossible to enforce. Law is very well conceived and the need of the hour is legal literacy to ensure the law is implemented. Here the role and competence of the law enforcement agencies is a big question mark? In spite of all the stringent laws framed to curb the female feticide, the practice continues. The declining sex ratio between boys and girls poses a serious threat to the very existence of a balanced social order in India.

Save a Girl Child: Sensitization of the society

There is a need to sensitize the Indian society about the sex selection tests and the impending gender crisis. There is a need to advocate to the society about greater gender equality. Increase awareness about the Pre-Natal Diagnostic Act (PNDT), 1994 as well as its recent amendment passed by the Parliament that bans any form of sex selection tests is needed.

Save a girl child: Awareness in the society

Society has to be sensitized about the pitiable state of women in the Indian society of which selective sex abortion of the female foetus is one of the indicators apart from increasing incidences of violence and trafficking.

Save a girl child: Implementation of the law

Law needs to be strictly implemented and we need to increase compliance amongst the maternity homes, nursing homes, ultra-sound clinics, radiologists for registering their ultra-sound machines under the PNDT Act. Medical community has to be sensitized about the ethics of medical profession and the role they ought to be playing in improving the population crisis as well as sex-ratios in the country. It’s also time to have a stricter and tougher regulation of the medical practice in India.

Save a girl child: Changing the attitude

There is a need to build a dialogue amongst the stakeholders as well as track inter-generational change amongst the women through various generations. Achievements of the successful women from different strata of the society as well as from different walks of life need to be highlighted to change the attitude of the society against women.

Save a Girl Child: Closing comments

There needs to be widespread visible contempt and anger in society against the “genocide” against women. Today nobody can say female feticide is not their problem when more than one million girl foetuses are been selectively destroyed every year in the country. It’s high time we all did our bit to help save the girl child as time is really running out for the girl child in India. The disastrous consequences of what is happening today will be felt in another 10-20 years time. Therefore to prevent a horrible future the need of the hour is to realize our responsibilities and give a halt to this evil crime of killing the girl child in the womb itself. A determined drive can initiate a spark to light the lamp and show the world that we indeed are the land of the great goddesses and mothers.

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Productivity ratios are widely used by companies and individuals as indicators of the efficiency with which an organization or an enterprise is able to convert its inputs into relevant outputs.

In order to have a solid grasp of how ratios on productivity can be used, the concept of productivity should be well-understood. In economics, productivity is commonly defined as the measure of output per unit of input. In many instances, it is also considered a measure or metric of engineering or technical efficiency. Productivity is related to the concept of production, the process of converting inputs to outputs. For many economists, production refers to all economic activities with the exception of consumption. There are various inputs or resources that are considered as factors of production. Among which are labor services, machines, raw materials, land, entrepreneurs, and capital goods. Production outputs, on the other hand, may take the form of finished goods or delivered services. In this context, technology is defined as the way by which production inputs are combined in the process of making output.

Measuring productivity in a regular basis is critical for many businesses. By doing this, it becomes easier for them to identify problems that may seriously hamper their profitability as well as to formulate appropriate solutions. Three productivity measures are commonly used presently and these are partial productivity, total productivity, and total factor productivity. Partial productivity illustrates the contention that total productivity can only be measured approximately or partially using any component of production. The single-factor productivity measurement is one of the most typical solutions of this productivity measure. This measurement is defined as the ratio of output and a single input factor. Total productivity, meanwhile, is measured by incorporating all inputs required to create a finished good or provide a service. In this method, inputs can be grouped into certain categories as long as they are distinguished from outputs. Total factor productivity, on the other hand, is a productivity measure that focuses on capital and labor, two of the most common input factors. When used in a national scale, a country’s gross national product (GNP) is usually considered as the output.

Among all production factors, labor force is generally identified and acknowledged as the factor that is most likely to affect the productivity of a business enterprise. Labor productivity, or the “average product of labor”, is determined as the average output of every worker. To increase the productivity of employees, as well as the entire organization, many companies opt to implement computerization and automation. These increase individual employee productivity, as they minimize the number of tasks that each worker would have to perform. Other companies, meanwhile, develop wage incentive plans and implements changes in their organizational structure in their efforts to improve productivity. Many business enterprises also opt to increase their productivity by increasing their output. By investing in research and development, companies are able to find ways to increase the efficiency of business processes and develop new products and processes. Nevertheless, before any of these solutions are planned and enforced, companies look at applicable productivity ratios.

Atomic Clock

Trading Account

As already discussed, first section of trading and profit and loss account is called trading account. The aim of preparing trading account is to find out gross profit or gross loss while that of second section is to find out net profit or net loss.

Preparation of Trading Account

Trading account is prepared mainly to know the profitability of the goods bought (or manufactured) sold by the businessman. The difference between selling price and cost of goods sold is the,5 earning of the businessman. Thus in order to calculate the gross earning, it is necessary to know:

(a) cost of goods sold.

(b) sales.

Total sales can be ascertained from the sales ledger. The cost of goods sold is, however, calculated. n order to calculate the cost of sales it is necessary to know its meaning. The ‘cost of goods’ includes the purchase price of the goods plus expenses relating to purchase of goods and brining the goods to the place of business. In order to calculate the cost of goods ” we should deduct from the total cost of goods purchased the cost of goods in hand. We can study this phenomenon with the help of following formula:

Opening stock + cost of purchases – closing stock = cost of sales

As already discussed that the purpose of preparing trading account is to calculate the gross profit of the business. It can be described as excess of amount of ‘Sales’ over ‘Cost of Sales’. This definition can be explained in terms of following equation:

Gross Profit = Sales-Cost of goods sold or (Sales + Closing Stock) -(Stock in the beginning + Purchases + Direct Expenses)

The opening stock and purchases along with buying and bringing expenses (direct exp.) are recorded the debit side whereas sales and closing stock is recorded on the credit side. If credit side is Jeater than the debit side the difference is written on the debit side as gross profit which is ultimately recorded on the credit side of profit and loss account. When the debit side exceeds the credit side, the difference is gross loss which is recorded at credit side and ultimately shown on the debit side of profit & loss account.

Usual Items in a Trading Account:

A) Debit Side

1. Opening Stock. It is the stock which remained unsold at the end of previous year. It must have been brought into books with the help of opening entry; so it always appears inside the trial balance. Generally, it is shown as first item at the debit side of trading account. Of course, in the first year of a business there will be no opening stock.

2. Purchases. It is normally second item on the debit side of trading account. ‘Purchases’ mean total purchases i.e. cash plus credit purchases. Any return outwards (purchases return) should be deducted out of purchases to find out the net purchases. Sometimes goods are received before the relevant invoice from the supplier. In such a situation, on the date of preparing final accounts an entry should be passed to debit the purchases account and to credit the suppliers’ account with the cost of goods.

3. Buying Expenses. All expenses relating to purchase of goods are also debited in the trading account. These include-wages, carriage inwards freight, duty, clearing charges, dock charges, excise duty, octroi and import duty etc.

4. Manufacturing Expenses. Such expenses are incurred by businessmen to manufacture or to render the goods in saleable condition viz., motive power, gas fuel, stores, royalties, factory expenses, foreman and supervisor’s salary etc.

Though manufacturing expenses are strictly to be taken in the manufacturing account since we are preparing only trading account, expenses of this type may also be included in the trading account.

(B) Credit Side

1. Sales. Sales mean total sales i.e. cash plus credit sales. If there are any sales returns, these should be deducted from sales. So net sales are credited to trading account. If an asset of the firm has been sold, it should not be included in the sales.

2. Closing Stock. It is the value of stock lying unsold in the godown or shop on the last date of accounting period. Normally closing stock is given outside the trial balance in that case it is shown on the credit side of trading account. But if it is given inside the trial balance, it is not to be shown on the credit side of trading account but appears only in the balance sheet as asset. Closing stock should be valued at cost or market price whichever is less.

Valuation of Closing Stock

The ascertain the value of closing stock it is necessary to make a complete inventory or list of all the items in the god own together with quantities. On the basis of physical observation the stock lists are prepared and the value of total stock is calculated on the basis of unit value. Thus, it is clear that stock-taking entails (i) inventorying, (ii) pricing. Each item is priced at cost, unless the market price is lower. Pricing an inventory at cost is easy if cost remains fixed. But prices remain fluctuating; so the valuation of stock is done on the basis of one of many valuation methods.

The preparation of trading account helps the trade to know the relationship between the costs be incurred and the revenues earned and the level of efficiency with which operations have been conducted. The ratio of gross profit to sales is very significant: it is arrived at :

Gross Profit X 100 / Sales

With the help of G.P. ratio he can ascertain as to how efficiently he is running the business higher the ratio, better will be the efficiency.

Closing Entries pertaining to trading Account

For transferring various accounts relating to goods and buying expenses, following closing entries recorded:

(i) For opening Stock: Debit trading account and credit stock account

(ii) For purchases: Debit trading account and credit purchases account, the amount being the et amount after deducting purchases returns.

(iii) For purchases returns: Debit purchases return account and credit purchases account.

(iv) For returns inwards: Debit sales account and credit sales return account

(v) For direct expenses: Debit trading account and credit direct expenses accounts individually.

(vi) For sales: Debit sales account and credit trading account. We will find that all the accounts as mentioned above will be closed with the exception of trading account

(vii) For closing stock: Debit closing stock account and credit trading account After recording above entries the trading account will be balanced and difference of two sides ascertained. If credit side is more the result is gross profit for which following entry is recorded.

(viii) For gross profit: Debit trading account and credit profit and loss account If the result is gross loss the above entry is reversed.

Profit and Loss Account

The profit and loss account is opened by recording the gross profit (on credit side) or gross loss (debit side).

For earning net profit a businessman has to incur many more expenses in addition to the direct expenses. Those expenses are deducted from profit (or added to gross loss), the resultant figure will be net profit or net loss.

The expenses which are recorded in profit and loss account are ailed ‘indirect expenses’. These be classified as follows:

Selling and distribution expenses.

These comprise of following expenses:

(a) Salesmen’s salary and commission

(b) Commission to agents

(c) Freight & carriage on sales

(d) Sales tax

(e) Bad debts

(f) Advertising

(g) Packing expenses

(h) Export duty

Administrative Expenses.

These include:

(a) Office salaries & wages

(b) Insurance

(c) Legal expenses

(d) Trade expenses

(e) Rates & taxes

(f) Audit fees

(g) Insurance

(h) Rent

(i) Printing and stationery

(j) Postage and telegrams

(k) Bank charges

Financial Expenses

These comprise:

(a) Discount allowed

(b) Interest on Capital

(c) Interest on loan

(d) Discount Charges on bill discounted

Maintenance, depreciations and Provisions etc.

These include following expenses

(a) Repairs

(b) Depreciation on assets

(c) Provision or reserve for doubtful debts

(d) Reserve for discount on debtors.

Along with above indirect expenses the debit side of profit and loss account comprises of various business losses also.

On the credit side of profit and loss account the items recorded are:

(a) Discount received

(b) Commission received

(c) Rent received

(d) Interest received

(e) Income from investments

(f) Profit on sale of assets

(g) Bad debts recovered

(h) Dividend received

(i) Apprenticeship premium etc.

Hairstylingiron

The Spanish word “maromero” is derived from “maroma” (somersaults), and would translate to “acrobat,” “the one who somersaults,” “one who flips his body,” or even “trickster.” Jorge Adolfo Febles Paez, a native of Mexicali in Baja California, Mexico grew up in a family of roaming and struggling entertainers of a circus owned by his grandmother. More than the boxing ring, Paez loved clown and acrobat roles in the circus. In 1989, “El Maromero” Paez is quoted as saying, regarding the more than $100,000 he would receive for defending his International Boxing Federation (IBF) flyweight title against Lupe Gutierezz in Reno, Nevada:

“I only want to get money, not titles…I came from a down status. Now, I am at the top. It was hard getting there” (”Paez Faces Gutierezz” in “Schenectady Gazette,” December 9, 1989).

Undoubtedly one of Jorge Paez’s motivations to earn money was the upgrading and marketing of the family circus.

The rise to fame of Maromero Paez was unique, spectacular, and significantly historical. Before Paez’s first fight in the United States of America, he was virtually unknown beyond the boxing circles of Mexico where he had earned the nickname “Maromero.” In Mexico Paez had mostly fought in Mexicali (which is the state capital, and a portmanteau for “Mexico” and “California”) and Tijuana in the state Baja California. He occasionally fought in places like Mexico City and San Luis Colorado. But though largely untested by international competition prior to his ventures into the United States, Paez had amassed an excellent boxing record of 25 wins (19 by knockout), two losses, one draw. Paez amassed the two losses very early in his career.

On January 23rd in Gamaches in Somme, France, 25 year-old African-American Calvin Grove dethroned Puerto Rican Antonio Rivera whose last fight had been on August 30th 1986 when he dethroned Ki-Young Chung of Korea of the IBF flyweight title. Undefeated in 32 previous fights in a professional boxing career that started in 1982, Grove knocked out Rivera in the fourth round of a scheduled 15 rounds. Tall and slender Calvin Grove, one of the best American boxers, was renowned for his speed and skills and ability to evade blows; he earned the nickname, “Silky Smooth.” On April 17th 1988, Grove would successfully defend his new title, against American Myron Taylor. The next battle would be with Paez, on August 4th 1988. Grove was expected to win, but Paez had the higher knockout ratio. Paez was going to fight in his familiar hometown with the crowd cheering for the clown. Humidity in Mexicali is generally low, but the July-August weather temperatures often rise to a dehydrating triple-digits Fahrenheit! The temperature high of Mexicali on that August 4th 1988 was 105 degrees Fahrenheit, while the low was 86 degrees!

Calvin Grove Vs. Jorge Adolfo Paez: The First Bout

A high capacity crowd at the Plaza de Toros Calafia was eagerly anticipated the IBF featherweight championship bout. The ring set up in a bullfighting arena was unusually wide in area, and this would be a factor in the fight. It would likely give Grove the space advantage given that he was a hit-and-run fighter. Paez was more of the ambush and close-range boxer who preferred to cut down on the space or corner his opponents and batter them. Unfortunately, there are no rigid legal limits on the dimensions of a boxing ring.

Of historical significance, the Paez-Grove encounter would officially be the last USA televised and major international 15-round professional title bout. Protests over the dangers of boxing had undoubtedly played a part in gradually limiting professional boxing bouts to twelve rounds.

A young-looking Paez, well known for his unique flashy and exotic ring outfits and hairstyles (beside his clowning in the ring) was this time wearing flashy blue shorts and had a neat full crop of hair with bangles tied to the hair ends running down the neck. As usual, Paez was there not to steal the show but to be the show! In comparison, Grove looked none the worse for wear in his white and lines black shorts. He had a significant thick crown-crop of hair on top of his head with the lower circumference of the head heavily trimmed down. Paez at 22 years of age (born on October 27th, 1965 in the small cozy city Colima which is the capital of the Colima state of Mexico) and a relatively short 5′5″ (165 cm) was officially weighted 125.75 pounds, while Grove who would turn 26 the next day (August 5th 1988) stood tall at 5′8″ and light at 125.5 pounds. The differences arms lengths were also significant. Paez at 68-69 inches and Grove at 71 inches–nearly a full-foot of difference. Grove was born in the small steel town Coatesville in Pennsylvania.

In the first round, Grove exhibits a lot of the Muhammad Ali style. He is hitting and running, circling the ring. Paez looks stronger, much more buffed and muscular than Grove. No doubt, Grove is very much aware of the strength and rocking power of Paez. Paez is the offensive one, Grove is the defensive one. As Paez walks and jogs to Grove to deliver, Grove keeps jabbing and running, but the jabs are not hurting Paez. But the few of Paez’s blows that hit Grove are significantly powerful, and one noticeably causes Grove to stumble. This reminds Grove that he will have to continue to be evasive to avoid a Paez onslaught. The fighters have been feeling or assessing each other’s strengths and weaknesses. The judges likely awarded each of the two pugilists the same numbers of points for this round.

The second round begins and further signifies that Paez is the one with the devastating power punches that Grove fully realized in the first round. Grove maintains a safe distance from Paez, sometimes running away from a chasing Paez who is intending to put out Paez with a devastating right-left hook.

In rounds three and four, Grove continues his hit-and-retreat stance that frustrates Paez who does not seem to be accustomed to Grove’s boxing style. Somewhere in there, Paez delivers a hard left hook that hurts Grove. But this fight is likely becoming a difficult one to score. Should the judges reward for Grove’s combinations which are not laced with much power and involve what looks like cowardly retreating and avoiding a toe-to-toe brawl with Paez; or should they award Paez for his keenness but frustration in hitting Grove? Paez’s blows are hard and significant, the few times they land. Paez may have to count on Grove losing steam as the fight progresses. And the weather temperatures are significantly high, and Grove with his thin body and continuous running may be bound to lose more energy and body fluids as the fight progresses.

In the fifth round, Paez confidently starts his clowning. This is to please and rail the crowd, displaying what he is famous for. It may also be a way for him to relax given the evasiveness of Grove that has frustrated and psychologically worn him out. Paez is taking a break to allow him to forge a strategy to get at Grove. The only two professional bouts that Paez previously lost happened very early in his career. Paez had never been knocked out and had gone the full distance in a handful of 10-rounders. This is his first international championship, the first beyond 10 rounds. Grove has gone the full distance in a significant number of bouts of 10 rounds and beyond. Grove certainly has the stamina–in his last fight, about a year ago, he defeated Myron Taylor by unanimous decision in a 15-round defense of his new IBF featherweight title.

The sixth round starts, and Paez briefly hits Grove. This is Paez’s best round, the audience is excited. Paez lands more head-hunting punches, clownishly taunts Grove,. even faking getting disoriented after Grove’s delivering the blows that do not hurt him.

In the seventh round, for the first time, the two boxers are closer in body distance; perhaps a sign that both are tired. But as indicated, the close contact style would likely favor the harder-hitting and offensive Paez. This round is even more exciting than the fifth-sixth rounds, but Paez lands the harder and sharper blows. Both boxers are getting exhausted, and Grove the more worn out, the two seem to be going for the kill as Grove becomes more audacious.

Paez appears to be relaxing in the eighth round, while still looking for the opportunity to land that killer punch. Grove continues to land the flash punches, hoping that the accumulation will give him the points. Paez is also visibly landing blows to Grove’s body as he ducks.

In the ninth round Paez picks up the pace and the crowd roars as he occasionally delivers. At some point he taunts Grove to move towards him and fight.

In the tenth round, both boxers display fatigue and each taunts the other. There is significantly visible damage to Grove in the form of a growing swelling on the side of his left eye. Paez gaining confidence, at some point stands straight alongside the ropes with dropped hands as he taunts Grove’s seemingly soft punches that he allows Grove to deliver. Paez is urging Grove to step close to him and really fight. Paez seems to be trying to encourage Grove to step closer, attempting to bait and thereafter rock him.

In the eleventh round Paez more intensively chases Grove who remains elusive as he circles and avoids the blows. Grove starts to occasionally hold as the strong Paez lounges forward. For the first time, Paez has surpassed 10 rounds. Grove had previously done it eighteen times. A great round for Paez who has landed heavy lounging blows on a retreating and apparently tired and injured Grove. A strength of Paez is his ability to easily change from the orthodox to the southpaw stance; a bit of ambidexterity with a lot of power in both fists.

In the twelfth round Paez continues to go after the hurt the retreating tired Calvin Grove who is hanging on. Paez becomes overly confident. Grove surprisingly lands and hurts Paez in the last few seconds of the round. But the bell rings and it is too late for Grove to follow up.

The thirteenth round witnesses Paez getting deadlier. The “Maromero” is fighting as though he is as fresh as at the beginning of the bout. He is encouraged by the swelling next to Grove’s left eye which is getting worse. The two boxers seem to be adrenaline-charged! This round involves more toe-to-toe exchanges, but Paez is also dancing and gaining the upper hand. Grove is running, but he has become more daring in reciprocating Paez’s flurry.

The fourteenth round involves Paez continuing to chase and land on Grove the harder blows. Paez does some clowning, a sign of growing confidence; but he intends to put out Grove.

The final round fifteen is evidently the “do-or-die” round. Grove is hurt and worn out, but the retreating blows he landed that were more significant in the first half of the bout might have him in the lead on the judges’ scorecards. On the other hand, the judges could have awarded more points to Paez because of his aggressiveness and hard punches against a seemingly cowardly retreating Grove. In the first seconds of the fifteenth round, Paez is knocked down but it is ruled a push. Paez quickly gets up. But a heavily dehydrated and worn out Grove seems to drop his guard. He retreats to a neutral corner, perhaps to get the support of the ropes. This is Paez’s best moment given that Grove is substantially trapped, for the first time! Paez unleashes a left that hurts Grove. This gives Paez the chance to deliver a dangerous combination that knocks Grove to the ground. Grove, in agony, gets up, is given an 8-count. Paez aggressively goes forward and hammers Grove in the same previous corner. Grove falls, again. After the 8-count, Paez uncharacteristically hits Grove in the abdomen and Grove falls although the blow looked like a slap. Grove gets up, his body language implying protest that it was a low blow or maybe water on the floor that made him slip. As the fight has been progressing, Grove has been holding on for dear life, often holding and even twisting around Paez so as to recuperate and kill time. Grove is in agony but the bell saves him from being completely knocked out. There was not a three-knock-down rule in this IBF. The crowd was in a frenzy throughout the fifteenth round.

When the bell rings to signal the end of a lengthy and hard-fought bout, Paez smiles and is lifted up by his team to imply that he has won. Many contend that some of the referees may have given a 10-6 points in favor of Paez in the fifteenth round because of the three knockdowns. after the smiling and confidently waving to the animated crowd, Paez climbs up the corner ropes to wave to the crowd and flex his raised arms like he is the victor. Then he climbs down and collapsedly falls to the floor. He is exhausted but elated! Paez’s Mexican entourage that is mostly dressed in white has already swarmed and packed the ring like it were an extended congratulating family. Paez again climbs the ropes. The congratulatory patting from the entourage is seemingly ceaseless! The two boxers Paez and Grove briefly hug and utter some friendly words to each other as they eagerly await the decision. The result, it is a majority decision in favor of an excited and emotional Maromero Paez! The IBF featherweight championship belt is locked around his waist and he is hoisted up, his arms flexing in the air in victory! Paez emotionally weeps, and in the opposite corner is a disappointed Grove with eyes covered by his right hand, with head hanging low. Jorge Paez Jr., just 8 months of age, is brought into the ring for his father to hold and display.

Calvin Grove Vs. Jorge Adolfo Paez: The Second Bout

Since the previous bout, Paez had fought an average Mexican boxer Miguel Molina whom he had previously, on July 28th 1986, beaten by points in a 6-round bout in Tijuana. On September 30th 1988, nearly two months after Paez had won the IBF featherweight title, Paez knocked out Molina in Ciudad Juarez. The rematch with Grove would be Paez’s next professional boxing bout.

Inevitably, the audience longed for a Paez-Grove rematch. The rematch would happen on March 30th 1989. The bout took place at the same ring in Mexicali that the previous IBF featherweight championship had taken place. But this time the weather temperatures were considerably lower and much better tolerable than during the previous bout which was contested in August of the previous year. On this March 30th, the maximum temperature was 91 degrees Fahrenheit, the lowest was 60 degrees, and the average was 76 degrees. Contrast that with the foregone August bout whereby the maximum was 104, the minimum was 77, and the average was 90 degrees Fahrenheit. Again, Paez had the home-crowd and weather-familiarity advantage.

On March 30th 1989, the ring officials and boxers Grove and Paez stood to the attention of the playing of the USA and Mexico anthems. The rematch for the!BF featherweight championship was going to take place. The ring was exactly the same that the two boxers had battled for the championship, previously. The ring area was again conspicuously wide in area, and comfortably held many boxing officials. A Mexican celebrity sang the Mexican anthem while Paez and many others in the ring and among the audience sang along. Paez was more flashily and glamorously dressed than in their previous bout. Here he wore multi-colored trunks, green gloves and boots, and unevenly matched socks and other accessories that truly made him look like the circus clown. The complex hair style enhanced the circus clown image. Grove wore purple trunks and his rows of braided hair seemed to suggest that he had attempted to match Paez’s flashy attire.

The first round begins and Paez is certainly animated and more confident than during the beginning of the last bout. Paez starts by clownishly and tauntingly gyrating his hips as he looks at Grove in the corner across, then at the bell signal he quickly rushes at his opponent. Paez is much more aggressive early in the bout than in their previous fight and seems to want to clobber Grove and end the bout early. He seems to be confident that he now knows Grove well enough and can go for the early kill. Paez manages to land many single left-right punches to Grove’s head and body as a cautious Grove mostly wards off Paez with his long arms. Still, Grove is facing Paez more than evading him like he had done in their previous fight. Paez is certainly dominant in this round.

In the second round, Grove becomes more offensive and lands more jabs than during the first round. Paez is relaxed, less animated than in the first round, but he still lands heavy blows and wants to deliver a lounging head kill. Paez taunts Grove, using clowning hip gestures. Near the end of the round, Paez unleashes a series of combinations that seem to hurt Grove. But this round favors Grove, although there was not much action in the round.

At the beginning of the third round, Paez is cornered but is not getting hurt by Grove. He slips out of the corner and the two boxers go toe-to-toe around the ring. Unlike the first bout whereby Grove mostly hit-and-run, this time Grove is bravely standing to Paez and not running. Grove is trading punches with the stronger Paez. The latter, sometimes ducks or lowers his head before landing the 1-2 combination. Near the end of the round, Grove corners Paez and unleashes a significant combination of punches. But Paez slips away and even begins to punch Grove who slightly wobbles. The bell rings.

In the fourth round Paez works hard to strike Grove while ducking and attempting to box through Grove’s guarding long arms. Grove is cautious and retreating, and not boxing much. At some point he even holds Paez. But Paez gets the better of the two. Grove throws a punishing right to the head of Paez, but this apparently angers and excites Paez into smothering Grove the more. This is a great round for Paez whereby Grove is getting hurt.

Just before the beginning of the fifth round, a confident Paez in his corner dancingly shakes his chest. The bell rings and Paez straight away runs after Grove. The two exchange thundering jabs. Grove is hurt and he holds Paez so as to avert the onslaught. The referee separates them. Grove recovers and reciprocates Paez’s jabs. Paez corners Grove and attempts to block his eyes with the left hand and then deliver a killer combination, but fails to knock him down. This is a great round for Paez who is progressively gaining confidence and landing more blows.

In the sixth round Paez relaxes and tauntingly clowns, even when Grove backs him into a corner, indicating that Grove is not hurting him. The two continue to exchange hard punches, but this time Paez’s clowning has allowed Grove to deliver and land more punches. Grove lands on Paez a significantly punishing upper cut.

Paez is back to business in the seventh round. He attacks Grove, but Grove does not back away although at times he holds. Paez continues to taunt Grove by gyrating his hips as he beckons him to come forward and fight. Grove’s blows have weakened but he unleashes a dangerous combination that hurts and spurs on Paez to return the favor. Still, Grove is the better deliverer in this round, proving that he trained hard for this championship bout. Grove is much less of the retreating fighter seen in the first fight with Paez. Allowing himself to be cornered is partly a tactic by Paez to get Grove closer so he can more easily rock Grove.

In the eighth round, Grove who has gained confidence backs Paez into a corner and delivers the blows. Paez instinctively counter-attacks and exacts on Grove hard blows that weaken Grove. The latter retreats more, he seems to be getting tired. Grove occasionally holds, but Paez keeps going after him. He even wriggles his hips, deriding Grove. Paez has bagged this round.

In the ninth round a fresh-looking Paez, compared to a worn-out Grove, runs after his foe. Paez seems to be inching toward delivering the killing blows. Grove, using his long arms, wards off and sometimes holds Paez to slow down the onslaught. Grove bravely hangs in there and sometimes delivers punches. Paez’s hard punches are hitting the target, but Grove continues to stand. Grove’s legs become rubbery and near the end of the round Paez delivers a thundering blow to Grove’s head. Grove stumbles. Grove protestingly gestures. The referee immediately warns Paez for hitting Grove after the bell had rang. The boxers’ corner teams quickly jump into the ring to avert the tension. Certainly a great and exciting round that heavily favors Paez!

Apparently, this fight is much more defined than the first Grove-Paez bout! In this one, Calvin Grove is much less cowardly. But with the progression into the later rounds, Grove is getting tired and weak, he is sometimes surviving on rubbery legs, he is retreating and holding more, and he is throwing fewer punches.

It is now the tenth round and a weary Grove starts by holding Paez. The latter starts running after and hitting a retreating Grove. The latter attempts to slow down Paez by holding again and again. Grove stumbles, but holds on. But he is too weak and a punch from Paez floors him! The fight resumes after the standing-8 count. Grove is floored again, but gets up–it was ruled a slip. Then a right to the head fells Grove for the third time. An excited but exhausted Paez runs to a neutral corner to rest on the ropes. The bell sounds for the end of the round, saving Grove from further punishment. Grove stumbles to his corner. Surprisingly the Grove corner does not throw in the surrendering towel!

The eleventh comes around, and a courageous but retreating Grove holds on with weak legs. He is relying on adrenaline! Paez, exhausted from all the hard work, has the upper hand. Paez pounds Grove with a left jab that sends him slumping down! Before the referee starts counting, “Maromero” climbs up the corner ropes and raises his arms to the audience in assuring victory. The referee requests Paez to climb down. Grove is finished! He is counted out by the referee. But he still gets up, and medical personnel jumps to him. Simultaneously, Paez flips his body, but before he can flip again, a swarm of the congratulatory Mexican entourage rushes in. Paez climbs onto the corner ropes and gyrates his hips to the frenzied crowd, victoriously raising his arms. He pounds his chest, displaying convincingly victory–as compared to the previous championship fight with Grove whereby he had won by a split decision.

In the “Doghouse Boxing” interview article “Calvin Grove: Mr. Silky Smooth” (March 14, 2008) conducted by Ken Hissner, Grove laments about the second bout with Paez: “We were supposed to fight in L.A. [Los Angeles] when it got changed to Mexico again. He [Paez] was awkward as it is. I lost fair and square. I was exhausted by the 11th round.”

The Thereafter

“Maromero” Paez, who became nicknamed the “Clown Price of Boxing” in the USA where he would mostly fight, after the battles with Grove, would remain professionally active until the end of the year 2003. Paez would successfully defend his IBF featherweight title against commendable boxers including Steve Cruz and Troy Dorsey. Paez lost his IBF featherweight title to legendary Tony Lopez on September 22nd 1990. Later, as a lightweight, Paez failed to wrest the title from undisputed champion and legend Pernell Whitaker.

Paez fought in numerous bouts every year–some in Mexico. He won most of them. He challenged legendary Rafael Ruelas for the North American Boxing Federation (NABF) lightweight title. Paez retired in the tenth round. In 1993, Paez contested for the IBF lightweight title. He lost by unanimous decision to Freddie Pendleton. In July 1994, Paez was knocked out by Olympic gold medallist Oscar De La Hoya for the vacant World Boxing Organization (WBO) lightweight title. Paez lost in all three of his next fights, the worst of his losing streaks. That included being disqualified for hitting Jose Vida Ramos when he was down on the floor. The next bout was their rematch, a contest for the newly created and little regarded WBO North American Boxing Organization (NABO) super featherweight title. Paez lost by points.

Paez won in his next four fights. In August 1996 he knocked out Narciso Valenzuela, to claim the unheralded WBC Continental Americas super featherweight title. Again in Las Vegas, Paez lost the same title by points to Julian Wheeler in October two months later. In the January 1997 rematch, Paez regained the title by outpointing Wheeler in Los Angeles. As a clown prince, Paez befittingly fought many of his bouts in the entertainment-oriented states of California and Nevada. In April 1997 in Las Vegas, Paez retained the WBC Continental Americas super featherweight crown, knocking out Gerald Gray in the third round. In August of the same year, Paez was stopped by fifth round TKO by Angel Manfredy, failing in his quest again for the World Boxing Union (WBU) super featherweight title.

In August 1998, Paez won the North American Boxing Union (NABU) featherweight title in knocking out Juan Macias in the sixth round in Las Vegas. In August, Paez won the IBA Americas super featherweight crown, knocking out Juan Perez in El Paso in Texas. A year later, Paez was knocked out in the fifth round by Jose Castillo who then captured the vacant IBA super featherweight crown. This happened in Mexicali at the same Plaza Calafia that Paez had won his first world title in 1988.

Although against mostly mediocre boxers, Paez did not lose in any of his next fourteen that were scheduled 10-round non-title bouts. He won all except for the draw with Justo Sanchez. These fourteen, spanning from April 2000 to December 2003 would be his last. The ultimate showy boxing entertainer and traveler would travel to places like Mississippi, Idaho, Texas, Phoenix, and Utah to fight. At age 38, Paez retired with an excellent record of 79 wins (51 knockouts), 14 losses, and 5 draws.

Though Jorge Paez preferred that his sons not get into the dangerous sport of boxing, and instead concentrate on formal education, his son Jorge “Maromerito” Paez Jr. is a boxing world title prospect. He is the WBC Youth International welterweight champion. A younger brother, Azriel Paez, also started boxing professionally. The record of “Maromerito” Paez is now 29 wins (18 knockouts), and 4 losses.

Filmography

Jorge Paez is also credited with being a Hollywood and Mexico entertainer and actor. In 1995 he appeared in the movie “Dirty Money” whereby he was “Jorge.” This is a robbery and murder mystery that includes the pursuance of a looter to a circus in Mexico.

Earlier in 1993, Paez was “Ernesto” in the movie “Old Shoes” in the Spanish language, filmed in Monterrey, Nuevo Leon, Mexico. In “La Ultima Esperanza,” a drama and romance TV series that ran from 1993-1995, Paez was “Kid.”

In 2006, Paez participated in the continuing “Bailando Por La Boda De Tus Sueños” in Mexico. This “Dancing for a Dream” involves many Mexican celebrities and can be compared to “Dancing with the Stars.”

Paez also acted on the NBC Saturday Sports Showcase series in 1990. In 2004, Paez was in “No Way Out” which was a professional wrestling pay-per-view event series. Paez also participated in the related “Smackdown” in the same year.

Conclusion

The flamboyance of boxing Mexican legend Jorge”El Maromero’” Paez was thoroughly entertaining, and involved outrageous hairstyles, dancing, taunting opponents, a new and unique costume each boxing bout, acrobatism and clowning, flipping his body. Nevertheless, Paez was a very muscular and determined hard-working powerful boxer with the drive to win. He read his opponents well even if they were considerably taller than him, zeroed in on their weaknesses, and often put them out. He had an outstanding boxing record in Mexico, the title wins in Mexicali were his first attempts at any major boxing title. Paez challenged many of the boxing legends. Paez became an international sensation in demand. The need to maintain and uplift the struggling family circus spurred him on to be a wonderful circus entertainer. His boxing skills allowed him to earn money from the sport, big dollars that would uplift the family and their business. His love was the circus, and he always brought it with him to the boxing ring. The audiences noticed and grew in capacity; the kids loved Paez’s clowning and flashiness. Paez traversed the United States, but principally entertainment-oriented Nevada and California. “El Maromero” became a celebrity. His showiness was quickly noticed and embraced by the film/ entertainment industry. But Paez has never forgotten, and he still performs and stars in his Mexico homeland nation. Paez’s genius lay in his being, uniquely and simultaneously, the star clown, the great boxer and the entertainer. Paez has become one of those unforgettables. Calvin Grove, would never regain significant international status although he would go on to contest for three more world titles–against legends Azumah Nelson, Miguel Angel Gonzalez, and Angel Manfredy.

Works Cited

Boswell, Thomas. “Paez Faces Gutierezz” in “Schenectady Gazette” (December 9, 1989).

Hissner, Ken. “Calvin Grove: Mr. Silky Smooth” in “Doghouse Boxing” (March 14, 2008).

Boating Villa Home

Qualifying for a business loan is not as easy as it was even one year ago. This is because most lending institutions have increased the requirements for businesses requesting a loan. The recent slowdown in our economy has forced banks to re-examine their lending practices as many businesses are experiencing lower profits. So when you are looking for a loan for your business it is important that you have everything in order so you will have the best chance to be approved.

One of the first things that you need to look at before going to a lending institution is whether or not you have a good business plan together. Having a business plan drawn up for your company is a great way to show the bank that you have carefully considered your request. This will show the bank where your business is currently and where you hope it will go once you have been approved for a loan. There are many professional writers that work as freelancers that have the expertise in this area that you can hire if you are uncertain about your ability to convey your thoughts on paper.

The next thing to do before you go to a lender is to look at your company’s financials. Clear as many debts as you possibly can. For example, if you use a credit card start paying it off monthly or if you have a vehicle loan with just a few payments left on it you might want to consider paying it off. This will help your income to debt ratio and make your business a more attractive prospect.

Once you have done that, you should look at all the officer’s credit reports. Every officer of the company will have a credit history run on them because they will be personally guaranteeing the loan. So make sure that the person income to debt ratio is good and clean up any bad marks against your credit.

When you have all of that together you are now ready to go to the lending institution. With the situation the way it is currently it would be wise to start with the bank you already have a relationship with. This is especially true if you have a community or local bank. They make their decisions based on the local area unlike the larger national banks. If your company is turned down don’t take it personally but consider your other options.

There are other places to gain access to a loan. You need to keep your eyes open, when the private market tightens the amount of money they are willing to lend oftentimes you can more easily qualify for an SBA loan. So if your bank says no don’t give up to easily especially if all of your financials are strong. So when you are looking for a business loan make sure that you have your company looking the best that it can financially and present the lenders with a solid business plan.

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Character: Although you will never receive a loan based on your character only lenders will consider it. Lenders will try to gauge your experience and knowledge of the industry you compete in. They will try to judge how responsive you will be as a manager to changes and unexpected problems. Community service, reputation and what the bank already knows about you as a borrower will all determine how they judge your character. If your deal is marginal, meaning it could easily be approved or declined; your character could swing the decision. The lenders want to be comfortable with their borrowers. Just because you have the ability to pay the lender back doesn’t mean that you will.

Credit History: Your FICO score measures and defines how you have handled credit in the past. It is often argued to be an ineffective way to measure credit worthiness of a borrower. Whatever your opinion is of the FICO score, the fact is you should strive to maintain a good score. Your FICO will determine your approval or denial of credit if you are pursuing credit under a $100,000. Loan requests under this threshold are treated more like a personal credit request (i.e. if you meet a box of criteria you’ll be approved).

Once you begin to borrow more than $100,000 the lenders typically will review your loan request in greater depth. As a result more is considered in the credit decision. You will find that while it is important to have a good FICO score it will not be the major factor considered. In these cases a lender will inquire specifically about items on your credit report for an explanation. I have seen loans approved where FICO scores have been in the mid 500’s. Don’t assume that a poor FICO will make you unworthy of credit. Discuss it openly with your lender and find out if your request has other strengths that will offset concerns with your credit score.

Lenders will review payment history, types of accounts and balances on revolving credit lines, judgments, liens, the length of time accounts have been established and anything else adverse. The more history you have on your report the more valid the FICO score will be to the lender. If you have a 750 FICO score but only have a credit card and a student loan, chances are good they will discount the score’s accuracy. It’s a good idea to pull your credit report before you request a business credit so that you are prepared to discuss any concerns that may exist.

Collateral: The first thing you need to know about collateral is that your lender will always discount the value of it to meet their credit policy. Although you may purchase a piece of equipment for $100,000 and put it on the books as an asset for the purchase price, a lender will typically discount used equipment by 25%-50% depending on the equipment and the lender. Lenders do this to determine a liquidation value for the assets of your business. If your business fails, the liquidation values of the business assets represent the cash the bank can expect to receive to repay the loan. For this reason a lender will never give you 100% value for collateral. It will always be discounted.

Some lenders will issue loans that are under collateralized (meaning they are not 100% covered by the liquidation of the assets). These lenders are rare to find and you must present other strengths in the loan request to get an exception on collateral. Other lenders will over collateralize loans with primary and secondary sources. These lenders may want to secure personal residences and other assets. You will want to discuss this with your lender before you go through the loan process. This could save you time and headaches in the long run.

Here is a list of collateral in order of liquidation value lenders will typically assign.

Collateral Liquidation Value

-Cash 100%

-Real Estate 75%-80% of value

-Tangible Equipment 50%-75% of current market value

-Accounts Receivable 50%-80% depending on the lender

-Inventory 50%-75%

-Computers and Software 0%

-Goodwill or Patents 0%

Lenders will also consider how difficult it will be to liquidate or access the collateral in the event of default. Current values of assets will also be valued at market and economic conditions (i.e. Real estate in 2007 was worth more than it was in 2009). Knowing what collateral you have for the lender will help determine how much money your business will be able to borrow.

Capacity: Capacity represents your ability to repay the loan. Often capacity is measured by looking at “cash flow” and “net discretionary income.” I’ll evaluate both of these measures for you. By understanding these two measurements you will know how strong your credit request is because you will know how to pay it back.

Cash flow is a measurement focused on the business. Cash flow tells the lender what is available to pay back the loan request. Cash flow is sometimes referred to as “Earnings Before Interest Tax Depreciation and Amortization” (EBITDA). One-time capital expenditures can also be added back to determine a true cash flow picture of your business. When you take cash flow (EBITDA) and divide it by your total debt payments you get a figure that tells you how many times you can pay your debt (Debt Service Coverage). Lenders will use this to determine how well you could repay the debt on an annual basis. This number must be above 1.25 to be considered for a loan. (See the Basic Accounting Ratios section of this guide Debt Service Coverage for more information about this ratio.)

Net Discretionary Income is used to determine what personal income is left after a living allowance and personal debt. What is left can be used to pay the business debt request. This can supplement a shortfall in business cash flow if necessary. (See the Understanding Cash Flow and Net Discretionary Income section of this guide for more detail.)

Conditions: How is the economy currently affecting your business? What does your competition look like and how do they impact sales? Are there any borrower profiles that pose a potential risk to the business or loan repayment? These and other questions are examples of what lenders will be trying to answer with respect to your business performance. The conditions should outline the “Borrowing Cause” already discussed. This will help the lender determine how your loan must be structured. Most of the other C’s of credit look at your business from a microscopic view. The conditions represent the macro view of your business and how it fits in the current environment. This picture must check out as well.

Make sure you understand the competitive landscape of your business and how the economy is affecting you. Have a plan for potential weaknesses and be able to justify how you will overcome them. This is an opportunity for you to demonstrate that you’re “business savvy.” Do not leave this rock unturned in your preparation for a loan.

Capital: Bankers will review both cash in the business and personal cash on hand for strength in your loan request. Some lenders like to see 3-6 months of working capital in you bank account. This money is considered back up incase you experience a dip in sales or some other problem in the business. This safety net provides the lender a sense of comfort in your ability to save and plan for future contingencies. A business owner that pulls all the money out of the business and spends it is a potential risk.

Cash in a bank account is easily accessible and can be used in emergency situations without penalties. Cash in a retirement account is more difficult to access and usually has penalties for early withdrawal. Lenders will discount cash available in these types of accounts. The liquidity ratios defined in the Basic Accounting Ratios section of this guide will provide you examples of some measurements the lender will evaluate. Compare these ratios with the industry standard to see how you rate against your peers. This is what your lender will do when they evaluate business capital.

There is not a magic amount of cash you need to have on hand to get a loan done. I have seen loans granted when hardly any cash was present. If you generally follow the rule of keeping 3-6 months of working capital in cash on hand, and you save a reasonable amount of cash each year from business profits; you should be able to demonstrate sufficient capital to the lender.

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The key to successfully obtaining commercial funding is knowledge. In this article, we conduct an overview of this area of financing.

What is a commercial loan? It is simply a loan made for business purposes rather than individual needs. A mortgage for your home is a personal loan. A mortgage for a new office building for a business is a commercial loan. The primary thing to keep in mind is that an individual is the primary focus of a personal loan while the focus for commercial loans is either the business or asset to be obtained. For instance, a lender will analyze cash flow, expenses and so on of an income producing property like an apartment building when considering financing. The personal credit of you, the borrower, matters, but not nearly as much as the fundamentals of the property finances.

The first thing to understand about seeking out commercial loans is familiarity. If you are seeking financing for the construction of a new commercial building for your business, you need to apply with commercial banks that have a history of providing such financing. Very few commercial banks are one stop shops. Spending the time, money and effort to place an application with a bank that doesn’t write that type of business or only dabbles in it is a bigger disaster than you probably realize. Why? When they inevitably reject the application, it will be noted on the credit report of the business and yourself, which makes it much tougher to get a loan from a bank that does write that type of business.

Key Factors

There are a number of factors that commercial banks consider when evaluating loan applications. The key thing to understand is they are all a measure of the risk in the project and should be viewed as much. Everything you suggest or offer up should be done so with this in mind.

Cash Flow

The initial consideration is cash flow. This can be calculated per the business or asset being borrowed against. Let’s consider an apartment complex. The fact you think it is a good deal is irrelevant. A commercial lender is going to want to see a property that has a positive cash flow if the loan is given. This means documentation will need to be provided that details the monthly revenue divided by all the expenses, taxes and the mortgage payments. Most banks look for a 1.1 to 1.4 cash flow ratio.

Collateral

Collateral is a much bigger issue in commercial lending then private lending. This can actually help you. You can often use other business assets to collateralize a loan you are seeking and that the bank might not otherwise give.

Debt to Equity

This is a ratio that represents your total capital assets versus the debts of the business. The bank wants to see a controlled debt situation. If your debts are more than 5 times your capital, it is going to be difficult to get a loan.

Management

Does the management of the business have any previous experience with this type of transaction, business niche and loan? How did it go? Remember, we are talking about risk assessments. A bank is going to be much more comfortable lending to a business with experienced management versus a group doing it for the first time.

What is the best method for successfully applying for commercial loans? Get experienced help. It can make the difference between getting the financing you need and watching a project go down the drain.

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