Jeff Koons An American Artist - 1075 Words

Jeff Koons is an American sculptor, painter, and multimedia artist. He attended Maryland Institute College of Art located in Baltimore. He worked as a Wall Street commodities broker before he became an artist. Jeff Koons was born January 21, 1955 in York, Pennsylvania to parents Henry and Gloria Koons. His mother worked as a seamstress and his father was a furniture dealer and interior decorator. Oxford art online stated that in the1980s Jeff Koons won international recognition as a radical exponent of an NEO– GEO. Artsy states that â€Å"Jeff Koons plays with ideas of taste, pleasure, celebrity and commerce.† Koons commented that his art and personal life is based in advertisement and media completely. He states that he has always loved†¦show more content†¦(Rothkope 15). Jeff Koons had a record for the highest selling piece of art. He achieved the record auction price for a living artist when someone paid $ 584 million at Chistie’s in Manhattan for his balloon dog, (Orange) 1955. Koons the States that all his works come from inspirations. (Lacayo 2014). He states that he hates when people focus on the price of his art he told New York Times â€Å"it’s not about the money, Other young artists I wanted to engage in the excitement of making art and sharing ideas, that’s what the art world means to me. This pieces â€Å"woman in tub (1988) was an inspiration from when he was younger. His grandfather had an ashtray in their television room; it was a small porcelain over girl in a bath tub. Koons explains that it was white with pink and blue details. He states that this piece also references Magnets and Degas. A few of his series that I love are equilibrium, banality, and made in heaven. Jeff Koons has made many different types of art and all of them are known to all the art world but These three are the main ones that was the talk about or create controversy. In 1985 stated by Rothkope Jeff Koons exhibition â€Å"equilibrium† came out. This exhibition was of equilibrium tanks with blue the Glass aquarium’s that held one or more basketball submerge in precise combination of distilled water and seawater that kept them suspended in the center of the tank. In a TV series called art 21 Jeff Koons talks about is â€Å"Banality† series. He stated

Socialism And Capitalism In Upton Sinclairs The Jungle

Upton SInclair’s novel, The Jungle, is a novel based on the â€Å"Gilded Age† in american history. It is the life of a working man named Jurgis Rudkus and as the story progresses, it shows the corruption and dishonesty of the people during this time period, as well as their reasoning behind their actions. Also as the novel continued, it showed the authors inspiration for the title of this novel. Throughout the book, Upton Sinclair had scattered metaphors as to why Capitalism is corrupt and why Socialism is better. With subtle hints to social classes and how Jurgis progresses through them through corruption. Dishonesty, it seems to be single handedly the most common topic in the book with it reoccurring over and over again with the many of†¦show more content†¦The Jungle what a strange name for a novel about a crooked government and contaminated meat factories with the rich having monopoly over all the city. See, the whole novel and even the title is an elaborat e metaphor and as the novel progresses it becomes clear from where the inspiration for the title came from to see towards the finale of the story. It simply means that everyone is out for themselves and would, in a metaphorical sense, devour the weak and then leave them out to die. The book also has various different metaphors with the most descriptive and the one the stands out the most is one from the beginning of the book describing the cold in a way only a great author could do. It was a way that makes you understand that it was no joke , that they were terrified by the cold for if not careful it would cost them their lives. It describes the cold as a reaper of death as if they were barely slipping through its fingers every night and every day his grasp would tighten on their lives that were already on its last leg. By putting in this way it makes this the biggest priority for them to survive another day in shambles. â€Å"Order of society†, this is in reference to how th ere are a few people who have monopoly over the whole city, and that the working men are just pawns in the whole charade. And the crooks are the power pieces in an elaborate game that belongs to the kings. Jurgis starts off as a pawn or a workingShow MoreRelatedSocialism And Capitalism In Upton Sinclairs The Jungle876 Words   |  4 Pages Capitalism can become corrupt. This is exactly what Upton Sinclair is trying to argue in his novel, The Jungle. Sinclair makes a strong case for Socialism, describing why capitalism is bound to fail. Instead of having the desired effect of making the world aware of Socialism, his tactics of muckraking and yellow journalism to expose the conditions in the meatpacking facilities took the world by storm. Sinclair’s vivid depictions of life in the Chicago stockyard changed the world in 1906, butRead MoreA Blatant Agenda1280 Words   |  6 Pageswith political biases and agendas in the hopes of swaying readers to their cause. The Jungle by Upton Sinclair is a prominent example of this phenomena. Hailing from the early 20th century, The Jungle addresses the poor working conditions in which the emigrant workers of the time would labor, working up to what equates to a socialist rant at the end of the novel. Upton Sinclairs political biases in The Jungle are in no way cleverly tied into the story, in fact, Sinclair egregiously abused the plotRead MoreThe Various Sources of Evils in Upton Sinclair’s The Jungle, by Chelsea Franks1155 Words   |  5 Pages The title, â€Å"The Jungle† (Upton Sinclair. The Jungle. New York: Barnes and Noble Classics, 2005), when dissected after having read it, denotes Upton Sinclair’s view of the time period, where Capitalism was the corrupted script for people’s lives rather than Socialism. Throughout the course of the book Upton Sinclair explores, in depth, the evils levied upon stockyard workers, as a result of Capitalism, to include family and immigration, while narrowly serving his own agenda of pushing the conceptRead MoreEssay about Upton Sinclair And The Chicago Meat-Packing Industry1094 Words   |  5 PagesUpton Sinclair and the Chicago Meat-packing Industry In 1900, there were over 1.6 million people living in Chicago, the countrys second largest city. Of those 1.6 million, nearly 30% were immigrants. Most immigrants came to the United States with little or no money at all, in hope of making a better life for themselves. A city like Chicago offered these people jobs that required no skill. However, the working and living conditions were hazardous and the pay was barely enough to surviveRead MoreSocialism in The Jungle1715 Words   |  7 PagesSocialism in â€Å"The Jungle† By Tyler Dobson Sinclair’s  The Jungle  is a novel that tends to advocate for socialism as a remedy for the evils of capitalism that has dominated a society. Upton Sinclair’s piece was written in 1906, at a time when many European immigrants had migrated to the United States with the hope of becoming prosperous in their lives. However, their expectations were not met as some of them ended up being unemployed and those who managed to get jobs like Jurgis Rudkus inRead MorePromoting Socialism Through Animalistic Connotations in â€Å"The Jungle†981 Words   |  4 PagesIn Upton Sinclair’s novel â€Å"The Jungle† the use of animalistic terms and connotations in the depictions of both the people and the politics created persuasive arguments for socialism and against capitalism. Christopher Phelps’ Introduction states, â€Å"As a metaphor, ‘jungle’ denoted the ferocity of dog-eat-dog competition, the barbarity of exploitative work, the wilderness of urban life, the savagery of poverty, the crudity of political corruption, and the primitiveness of the doctrine of survivalRead MoreUpton Sinclair and the Chicago Meat-Packing Industry1072 Words   |  5 PagesUpton Sinclair and the Chicago Meat-packing Industry In 1900, there were over 1.6 million people living in Chicago, the countrys second largest city. Of those 1.6 million, nearly 30% were immigrants. Most immigrants came to the United States with little or no money at all, in hope of making a better life for themselves. A city like Chicago offered these people jobs that required no skill. However, the working and living conditions were hazardous and the pay was barely enough to surviveRead MoreExamples Of Capitalitarianism In The Jungle1032 Words   |  5 Pages In Upton Sinclair’s novel The Jungle, his main idea is to push for socialism because he thinks you have to be corrupt in order to practice capitalism. Throughout the novel he makes numerous metaphors about how capitalism is bad and a person must be corrupt in order to be successful. The main example for this is the main character Jurgis Rudkus, who displayed various acts of corruption in order to survive and make a living for himself. I’m the end of the novel, Upton Sinclair had Jurgis becomeRead MoreModern Day Relevance of Sinclairs The Jungle Essay911 Words   |  4 PagesThe Jungle was first published in 1906. Contemporary critics disagree about whether or not the novel has any â€Å"relevance† for modern readers. What do YOU think? I believe this novel has somewhat of a relevance for modern readers in today’s society. In the world of economic competition that we live in today, many thrive and many are left to dig through trash cans. It has been a constant struggle throughout the modern history of society. One widely prescribed example of this struggle is Upton SinclairsRead MoreEssay on The American Dream in The Jungle by Upton Sinclair, Jr.967 Words   |  4 Pagescorruption, scandal, or the like, especially in politics† (dictionary.com). Upton Sinclair gained fame in the early 1900’s from his muckraking novel, The Jungle, describing the life of a young Lithuanian immigrant, Jurgis, living in Chicago in pursuit of the American dream. Jurgis found out that America isn’t as good as it appeared; with higher wages came more expensive goods, and with cheaper houses came higher interest rates. The Jungle, a fictional novel, tells of the real horrors of working in a Chicago Socialism And Capitalism In Upton Sinclairs The Jungle Capitalism can become corrupt. This is exactly what Upton Sinclair is trying to argue in his novel, The Jungle. Sinclair makes a strong case for Socialism, describing why capitalism is bound to fail. Instead of having the desired effect of making the world aware of Socialism, his tactics of muckraking and yellow journalism to expose the conditions in the meatpacking facilities took the world by storm. Sinclair’s vivid depictions of life in the Chicago stockyard changed the world in 1906, but it did not bring Socialism into the public eye as he had hoped; instead, it ushered in new regulations and standards in the food industry, but those regulations still are not enough to stop the corruption of meatpacking companies. The central†¦show more content†¦Workers in Packingtown were subject to conditions similar to slavery. Sinclair describes the situation explaining that â€Å"they were tied to the great packing machine, and tied to it for life† (Sinclair 94). Most of the workers could not escape the grasps of the Beef Trust, a monopoly on the beef industry that was above even the law. They were forced to work in dangerous and filthy conditions, earning barely any compensation for their work. All of the workers were seen as â€Å"cogs in the great packing machine,† replaceable and cheap (Sinclair 74). By objectifying their workers as simply moving parts to a machine, employers could find moral high ground in the poor and inhumane working conditions, and they could replace old and damaged â€Å"parts† with new ones without so much as thinking about what they had done for that worker. Sinclair hoped to promote Socialism with these depictions, spending the last few chapters of the book detailing how Socialism could fix all of the problems detailed in the beginning. His ideas of â€Å"‘Communism in material production, anarchism in intellectual’† were never realized in the United States (Sinclair 291). He believed that people should be given equal resources and then allowed to have as much intellectual gain as they wanted. The general public did not respond to this argument. They saw the problem in a different perspective, blaming not capitalism butShow MoreRelatedSocialism And Capitalism In Upton Sinclairs The Jungle1003 Words   |  5 PagesUpton SInclair’s novel, The Jungle, is a novel based on the â€Å"Gilded Age† in american history. It is the life of a working man named Jurgis Rudkus and as the story progresses, it shows the corruption and dishonesty of the people during this time period, as well as their reasoning behind their actions. Also as the novel continued, it showed the authors inspiration for the title of this novel. Throughout the book, Upton Sinclair had scattered metaphors as to why Capitalism is corrupt and why SocialismRead MoreA Blatant Agenda1280 Words   |  6 Pageswith political biases and agendas in the hopes of swaying readers to th eir cause. The Jungle by Upton Sinclair is a prominent example of this phenomena. Hailing from the early 20th century, The Jungle addresses the poor working conditions in which the emigrant workers of the time would labor, working up to what equates to a socialist rant at the end of the novel. Upton Sinclairs political biases in The Jungle are in no way cleverly tied into the story, in fact, Sinclair egregiously abused the plotRead MoreThe Various Sources of Evils in Upton Sinclair’s The Jungle, by Chelsea Franks1155 Words   |  5 Pages The title, â€Å"The Jungle† (Upton Sinclair. The Jungle. New York: Barnes and Noble Classics, 2005), when dissected after having read it, denotes Upton Sinclair’s view of the time period, where Capitalism was the corrupted script for people’s lives rather than Socialism. Throughout the course of the book Upton Sinclair explores, in depth, the evils levied upon stockyard workers, as a result of Capitalism, to include family and immigration, while narrowly serving his own agenda of pushing the conceptRead MoreEssay about Upton Sinclair And The Chicago Meat-Packing Industry1094 Words   |  5 PagesUpton Sinclair and the Chicago Meat-packing Industry In 1900, there were over 1.6 million people living in Chicago, the countrys second largest city. Of those 1.6 million, nearly 30% were immigrants. Most immigrants came to the United States with little or no money at all, in hope of making a better life for themselves. A city like Chicago offered these people jobs that required no skill. However, the working and living conditions were hazardous and the pay was barely enough to surviveRead MoreSocialism in The Jungle1715 Words   |  7 PagesSocialism in â€Å"The Jungle† By Tyler Dobson Sinclair’s  The Jungle  is a novel that tends to advocate for socialism as a remedy for the evils of capitalism that has dominated a society. Upton Sinclair’s piece was written in 1906, at a time when many European immigrants had migrated to the United States with the hope of becoming prosperous in their lives. However, their expectations were not met as some of them ended up being unemployed and those who managed to get jobs like Jurgis Rudkus inRead MorePromoting Socialism Through Animalistic Connotations in â€Å"The Jungle†981 Words   |  4 PagesIn Upton Sinclair’s novel â€Å"The Jungle† the use of animalistic terms and connotations in the depictions of both the people and the politics created persuasive arguments for socialism and against capitalism. Christopher Phelps’ Introduction states, â€Å"As a metaphor, ‘jungle’ denoted the ferocity of dog-eat-dog competition, the barbarity of exploitative work, the wilderness of urban life, the savagery of poverty, the crudity of political corruption, and the primitiveness of the doctrine of survivalRead MoreUpton Sinclair and the Chicago Meat-Packing Industry1072 Words   |  5 PagesUpton Sinclair and the Chicago Meat-packing Industry In 1900, there were over 1.6 million people living in Chicago, the countrys second largest city. Of those 1.6 million, nearly 30% were immigrants. Most immigrants came to the United States with little or no money at all, in hope of making a better life for themselves. A city like Chicago offered these people jobs that required no skill. However, the working and living conditions were hazardous and the pay was barely enough to surviveRead MoreExamples Of Capitalitarianism In The Jungle1032 Words   |  5 Pages In Upton Sinclair’s novel The Jungle, his main idea is to push for socialism because he thinks you have to be corrupt in order to practice capitalism. Throughout the novel he makes numerous metaphors about how capitalism is bad and a person must be corrupt in order to be successful. The main example for this is the main character Jurgis Rudkus, who displayed various acts of corruption in order to survive and make a living for himself. I’m the end of the novel, Upton Sinclair had Jurgis becomeRead MoreModern Day Relevance of Sinclairs The Jungle Essay911 Words   |  4 PagesThe Jungle was first published in 1906. Contemporary critics disagree about whether or not the novel has any â€Å"relevance† for modern readers. What do YOU think? I believe this novel has somewhat of a relevance for modern readers in today’s society. In the world of economic competition that we live in today, many thrive and many are left to dig through trash cans. It has been a constant struggle throughout the modern history of society. One widely prescribed example of this struggle is Upton SinclairsRead MoreEssay on The American Dream in The Jungle by Upton Sinclair, Jr.967 Words   |  4 Pagescorruption, scandal, or the like, especially in politics† (dictionary.com). Upton Sinclair gained fame in the early 1900’s from his muckraking novel, The Jungle, describing the life of a young Lithuanian immigrant, Jurgis, living in Chicago in pursuit of the American dream. Jurgis found out that America isn’t as good as it appeared; with higher wages came more expensive goods, and with cheaper houses came higher interest rates. The Jungle, a fictional novel, tells of the real horrors of working in a Chicago

MBA Answers Free Essays

Explain the different activity levels of Management? A: The management of an Industry can be sub-divided Into the following different level: 1. Top Management: It consists of the board of directors and the principal offers such as the chief executive managing director and the others concerned with the general operation as distinct from some functional specialization. They are the ultimate level of authority in the operation of the enterprise. We will write a custom essay sample on MBA Answers or any similar topic only for you Order Now They set the objectives fine the goals, establish the policies, see the policies are put into effect and Judge the results. Livingston has described the top management’s actual operation by listing it as follows: a: Decision- Making I) Origination versus confirmation or veto ii) Planning 1. Setting of goals What, How, Much, at what price, when and where. 2. Mechanism a) Process b) Structural organization and co-ordination c) Appointment of key personnel â€Å"I) Ponca 1) Definition General versus specific 2) Integration v) Implementation 1) Release of authority ) Financial 1) Selection of types of funds to be secured 2) Dilutions of profit. B) Judicial I) Comparison of accomplishment with goal ii) Evaluation 1. Of accomplishment with the cost 2. Of alternative possibilities iii) Counsel In place of decision or command There are certain behavioral characteristics of top level executives given below: I. Drive pure physical energy is an absolute necessity n. A strong desire to become the top man â€Å"l. A willingness to work for long hours projecting an Image of success v. Management’s effectiveness How to cite MBA Answers, Papers

Human Resources Strategic Plan

Question: Discuss about theHuman Resources Strategic Plan. Answer: Introduction Human resource management is a key department for the proper functioning of an organization; this means that it is responsible for the acquisition of workforce resources and the training, remuneration among other functions which aid the functioning of the organization. Strategic planning in human resource involves the identification of the organization's current and future needs and aligning them together with the goals and objectives. Thus human resource functions are meant to meet the organization's strategic plan. Human resource strategic planning involves evaluation of goals and objectives and ensuring that there are sufficient resources to accomplish the goals. Given the dynamic nature of organizations today, there is need to analysis the internal and external environment to determine hoe changing trends in the social, economic, technological aspects are likely to influence the human resource. For the purpose of this paper, the Coca-Cola Company is a perfect example in which the human resource strategy plan is important than technology. Given the international nature of business by Coca Cola there is need for performance management, the proper compensation, career development and future planning for success and sustainability for this organization. The focus of this paper is to develop human resource strategic plan based on the gap analysis in the staff training and drawing recommendations relevant for the planning process. HRM Programme The choice for the program is based on gap analysis in the organization which highlights the organization requirements for the present and future needs in terms of qualified and experienced workforce. Thus, there is need to address the area of staffing and training, which is the driver program, plays an essential role in skill development to meet the organizations need. The future success of Coca Cola is dependant on the quality of work force given the diversity in cultural and social aspects of its workforce in their international operations. Also, in this programme, it is important to note the role of factors such as globalization, technological changes, and the global workforce. The technological advancements have enabled the organization to adopt the IT approach to communication and flow of information and the change in the production processes which in turn translates to proper training of staff in order to utilize the technology for increased productivity. The programme is important in the organization's need to utilize or outsource trained and skilled personnel from different parts of the world given the globalized nature of organizations. Due to the globalization effect, organizations are in competition and thus, the need for efficiency and effectiveness in their workforce. The need for strategies and plans for each organization allows the functioning of each department such as the finance department which is responsible for remuneration and compensation for the work force. Other departments are relevant in the HRM due to the nature of activities, for instance, in marketing department the human resource input in work force requirements ensures goals are met. Program Objectives The human resource functions are important in achieving the overall operational plans of the organization. Therefore, the programme of staffing and training is essential for the strategic goals of the organization since it is meant to provide the right people regarding skills and training for the timely completion of duties and achievement of short term and long term goals of the organization. Another aim of this program is to maintain a flexible workforce which is ready to absorb changes in the future. These changes may include technological changes whereby the team is trained and equipped with the necessary skills. The proper execution of this program will place the organization at an advantage with regards to change, and the HRM creates a transformational team which is equipped and ready for short term and long term changes. In alignment with the organizational goals and objectives, the programme is aimed at maximizing the staffing and training of the workforce while employing cos t-effective plan of action for the organization's future changes and requirements. Programme Recommendations The staffing and training program involves the evaluation of a set of actions meant to achieve the objectives of the program and overall organizational goals. Such actions include engaging in training and development exercises within the organization, and this will include on-job training exercises and allocation of new roles which is a preparation for the future change in roles and positions. Another set of action is the use of outsourcing whereby there is an interaction between outside organization, and exchanges of the workforce to complete tasks and this set of action is basically for short term roles and specialized. Besides training, collaboration is another set of action which is a long-term oriented plan, and it is meant to include the involvement of other organizations such as educational institutions whereby there is a specification of training and skill set development. Collaborative actions would include other organizations where there is exchanges and development of required skills for the future and benchmarking in organizations where new skills and insight are learned and exchanged. The staffing and training program includes the recruitment plan for the organization which involves the acquisition of new staff with the required skills for the organization's future and present need. The recruitment plan should focus on the suitability of the recruit to the organization's goals and objectives as well as the alignment with the transformational goals for the organization for future change. Driver Programme The driver program in HRM helps in impacting the strategic objectives and helps in the implementation and reinforcement of the plan. Our staffing and training program is essential for the overall functioning of the organization, and thus measures such as performance management are necessary for developing experience and competence among staff, and the contribute to identifying training gaps. The Coca Cola internship program is best suited for the driver program whereby the interns develop skills and competencies through internship opportunities and then absorbed by the organization in its various outlets worldwide. For this plan, the driver programme which best suits this scenario is the retention and absorption of interns so as to ensure trained and competent workforce.

Member of Parliament free essay sample

This puts the rest of the team in a situation that could cause stress and extra work that they wouldn’t have had to deal with if the team member had done what they said they would do. In order to avoid this it is important for all team members to understand the importance of doing what they are assigned to do. †¢A team member who does not meet deadlines There are many things to consider when something goes wrong when you are a part of a team or group. The first thing I would do is make sure that the deadline was known and that the team member understood the deadline and what was supposed to be completed. If there was a misunderstanding then I would make sure that the rest of the team didn’t have the same misunderstanding about the deadlines and their importance. This situation is especially true for me and this assignment. We will write a custom essay sample on Member of Parliament or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page I was late in submitting my portion and it has put team members in this exact scenario. The way I would handle this with myself, is to make sure I know how important deadlines are and how the impact the work of the rest of the team. I would let myself know that people are relying on me to have my portion of a project or assignment done in order for their portions to be implemented and the final project to be completed. In order to avoid this in the future, I will make sure that I keep track of all deadlines and schedule my time accordingly.

Homemade Iceberg Experiment

Homemade Iceberg Experiment Did you know icebergs consist primarily of fresh water? Icebergs primarily form when parts of glaciers break off or calve icebergs. Since glaciers are made from snow, the resulting icebergs are freshwater. What about ice that forms in the ocean? This sea ice often breaks into ice floes when a solid sheet of ice shifts and thaws in the spring. Although the sea ice comes from seawater, it is fresh water, too. In fact, this is one method of desalination or removing salt from water. You can demonstrate this for yourself. Iceberg Experiment You can make your own homemade seawater and freeze it to make sea ice. Mix up a batch of synthetic seawater. You can approximate seawater by mixing 5 grams of salt in 100 ml of water. Dont worry too much about the concentration. You just need salty water.Put the water in your freezer. Allow it to partially freeze.Remove the ice and rinse it in very cold water (so you dont melt too much of it). Taste the ice.How does the ice cube taste compared with the salty water left in the container? How It Works When you freeze ice out of saltwater or seawater, youre essentially forming a water crystal. The crystal lattice doesnt make much room for salts, so you get ice that is purer than the original water. Similarly, icebergs that form in the ocean (which are really ice floes) arent as salty as the original water. Icebergs that float in the sea dont become contaminated with salt for much the same reason. Either the ice melts into the ocean or else relatively pure water freezes out of the seawater.

Shipping Industry Case Study Example | Topics and Well Written Essays - 2250 words

Shipping Industry - Case Study Example Once this is approved by the commission, the bookbuilding process begins, in which the company is introduced to potential investors, who then explicitly express their interest in the venture. At this point, the investment bank proposes a price to the company, and later the trading begins (Ljungqvist, 2005). This process is often very complicated and very costly. The costs are generated by auditing and underwriting, plus legal fees. Ongoing costs are also associated with public offerings, such as those connected with supplying information and dividends to investors (Ritter, 1998, p. 1). Another cost related to going public may come from underpricing, which is a risk that grants initial investors less than the market value of the securities through offering it at too low a price (Clementi, 2005; Ljungqvist 2005; Ritter, 1998). The theories that explain why a firm might do this are several. They include the desire of entrepreneurs and/or investors to lower capital cost and to broaden the firm's ownership base (Brau et al., 2005, p. 5). Other theories suggest that firms decide to go public for reasons of legitimacy and growth (Cohen, 2002). Still others posit the theory that initial public offerings usually occur as a normal stage in a firm's lifecycle (Brau et al., 2005, p. 13; Maug, 2001, p. 1; Ritter, 1998, p. 18). Small firms are usually run by a limited amount of capital. ... argue that the rationale for choosing this is strengthened by the fact that the benefits of liquidity is more desirable for entrepreneurs than compensating investors for the non-liquidity that usually exists in privately owned firms (Ritter, 1998, p. 1). This might be viewed in terms of the desire to reduce a firm's capital costs. A major part of capital costs comes from debt. This is concretised roughly by the interest rate payable on the amount of debt incurred in the financing of the firm. When liquidity is necessary, rather than incur this (or additional) debt, firms might choose to raise capital by selling is equity in the form of securities to the public (Ritter, 1998, p. 1). The same might be done to its debt via an initial public debt offering (Ritter, 1998, p. 1). The life-cycle theory has been propounded by several financial theorists. It states that the IPO occurs within the normal process of a firm's evolution and maturity (Ritter, 1998, p. 1; Brau, 2005, p. 13). The small business is usually at first financed by the owners' limited capital. When growth beyond this capacity is necessary, and all other private avenues (friends and family) have been exhausted, capital is sought from non-affiliated financial sources, such as banks and venture capitalists. However, entrepreneurs and investors will likely not agree on all decisions to be made within the firm. At this point firms consider it desirable to offer its securities to a highly diversified public (Ritter, 1998, p. 18; Boehmer & Ljungqvist, 2004, p. 28). Firms are interested obtaining financing at the cheapest cost. The cost of capital theory can be invoked here as well, since equity does generate a cost (though one much more difficult to calculate than that of debt). When a firm offers i ts shares to