18 November 2013 World War II

World War II

Wild West Presentation

Famous for, died, and interesting facts about Nat Love, aka Deadwood Dick Famous Love was born a slave on the plantation of Robert Love in Davidson County, Tennessee, in June 1854. Despite slavery era statutes that outlawed black literacy, he learned to read and write as a child with the help of his father, Sampson Love. When slavery ended, Sampson attempted to start a family farm to raise tobacco and corn, but he died shortly after the second crop was planted. Nat then took a second job working on a local farm to help make ends meet. After a few years of working odd jobs, he won a horse in a raffle. He sold the horse for one hundred dollars and gave half to his mother, and he used the other half to leave town. He went west to Dodge City, Kansas, to find work as a cowboy. In Dodge City, he joined the cowboys from the Duval Ranch, located in Texas. Because of his excellent horse riding skills, the Duval Ranch cowboys gave Love the nickname "Red River Dick." Once he joined the Duval cowboys he left Dodge City and returned with them to the home ranch in the Texas Panhandle. Facts In 1969, a clothing company in Boston took the name Nat Love to pay homage to this "groovy guy". Nat Love, Inc. introduced hot pantsto the United States at the first National Boutique Show held at the Hotel McAlpin in New York City. "If a man can't go out in the blaze of glory, he can at least go with dignity." Died He died in Los Angeles in 1921 at the age of 67. Bat Masterson a buffalo hunter, U.S. Marshal and Army scout, avid fisherman, gambler, frontier lawman, and sports editor and columnist for the New York Morning Telegraph. • "Every dog, we are told, has his day, unless there are more dogs than days." Bat Masterson lived in the American West during a violent and frequently lawless period. His most recent biographer concludes[citation needed] that, Indian-fighting aside, he used a firearm against a fellow man on just six occasions, far less than some of his contemporaries such as Dallas Stoudenmire, "Wild Bill" Hickok, and Clay Allison. However, the fact that he was so widely known can be ascribed to a practical joke played on a gullible newspaper reporter in August 1881. Seeking copy in Gunnison, Colorado, the reporter asked Dr W.S. Cockrell about mankillers. Dr. Cockrell pointed to a young man nearby and said it was Bat and that he had killed 26 men. Cockrell then regaled the reporter with several lurid tales about Bat's exploits and the reporter wrote them up for the New York Sun. The story was then widely reprinted in papers all over the country and became the basis for many more exaggerated stories told about Bat over the years.[19] Masterson left the West and went to New York City by 1902, where he was arrested for illegal gambling.[20] • Bat Masterson was a U.S. television series loosely based on the historical character. William Barclay "Bat" Masterson was portrayed by actor Gene Barry, who also played a lead role in later television shows The Name of the Game and Burke's Law, among others. Bat Masterson appeared on NBC in 107 episodes from 1958 to 1961 and featured Masterson as a superbly dressed gambler, generally outfitted in a black suit and derby hat, who was more inclined to "bat" crooks over the head with his gold-knobbed cane than shoot them. Hundreds of thousands of plastic derby hats and canes were sold as children's toys during the show's run. Bat Masterson died at age 67 on October 25, 1921, while living and working in New York City. He collapsed at his desk from a heart attack after penning what became his final column Annie Oakley Perhaps Oakley's most famous trick was her ability to repeatedly split a playing card, edge-on, and put several more holes in it before it could touch the ground, while using a.22 caliber rifle, at 90 feet. Traveling show marksman and former dog trainer Francis E. Butler (1850–1926), an Irish immigrant, placed a $100 bet per side (worth $2,126 today) with Cincinnati hotel owner Jack Frost, that he, Butler, could beat any local fancy shooter. The hotelier arranged a shooting match between Butler and the 15-year-old Annie saying, "The last opponent Butler expected was a five-foot-tall 15-year old girl named Annie."[16] After missing on his 25th shot, Butler lost the match and the bet. He soon began courting Annie, and they married on August 23, 1876. They did not have children. She wrote a letter to President William McKinley on April 5, 1898, "offering the government the services of a company of 50 'lady sharpshooters' who would provide their own arms and ammunition should the U.S. go to war with Spain."[21] Throughout her career, it is believed that Oakley taught upwards of 15,000 women how to use a gun. Oakley believed strongly that it was crucial for women to learn how to use a gun, as not only a form of physical and mental exercise, but also to defend themselves.[9]She said: "I would like to see every woman know how to handle guns as naturally as they know how to handle babies." The 1946 Broadway production was a hit, and the musical had long runs in both New York (1,147 performances) and London, spawning revivals, a 1950 film version and television versions. Songs that became hits include "There's No Business Like Show Business", "Doin' What Comes Natur'lly", "You Can't Get a Man with a Gun", "They Say It's Wonderful", and "Anything You Can Do." health declined in 1925 and she died of pernicious anemia in Greenville, Ohio at the age of 66 on November 3, 1926. Wyatt Earp Earp was at different times in his life a city policeman, county sheriff, a teamster, buffalo hunter, bouncer, saloon-keeper, gambler, brothel owner, pimp, miner, and a boxing referee. Earp spent his early life in Iowa. His first wife Urilla Sutherland Earp died while pregnant less than a year after they married. Within the next two years he was arrested, sued twice, escaped from jail, then was arrested three more times for "keeping and being found in a house of ill-fame". He landed in the cattle boomtown of Wichita, Kansas where he became a deputy city marshal for one year and developed a solid reputation as a lawman. In 1876 he followed his brother James to Dodge City, Kansas where he became an assistant city marshal. In winter 1878, he went to Texas to gamble where he met John Henry "Doc" Holliday whom Earp credited with saving his life. The Gunfight at the O.K. Corral was a gunfight that took place at about 3:00 p.m. on Wednesday, October 26, 1881, in Tombstone, Arizona Territory, and is generally regarded as the most famous gunfight in the history of theAmerican Old West. The gunfight, believed to have lasted only about thirty seconds, was fought between the outlaw Cowboys Billy Claiborne, Ike andBilly Clanton, and Tom and Frank McLaury, and the opposing town MarshalVirgil Earp and his brothers Assistant Town Marshal Morgan and temporary lawman Wyatt, aided by Doc Holliday designated as a temporary marshal by Virgil. Ike Clanton and Billy Claiborne ran from the fight unharmed, but Ike's brother Billy Clanton was killed, along with both McLaurys. Lawmen Virgil and Morgan Earp were wounded. Wyatt Earp and Doc Holliday came through the fight unharmed. The fight has come to represent a time in American historywhen the frontier was open range for outlaws opposed by law enforcement that was spread thin over vast territories, leaving some areas unprotected. died at home in the Earps' small apartment at 4004 W 17th Street, in Los Angeles, of chronic cystitis (some sources cite prostate cancer) on January 13, 1929 at the age of 80.[102] Will Rogers Known as "Oklahoma's Favorite Son," [1] Rogers was born to a prominent Cherokee Nationfamily in Indian Territory (now part of Oklahoma). He traveled around the world three times, made 71 movies (50 silent films and 21 "talkies"),[2] wrote more than 4,000 nationally-syndicated newspaper columns,[3] and became a world-famous figure. By the mid-1930s, Rogers was adored by the American people. He was the leading political wit of theProgressive Era, and was the top-paid Hollywood movie star at the time. Rogers' vaudeville rope act led to success in the Ziegfeld Follies, which in turn led to the first of his many movie contracts. His 1920s syndicated newspaper column and his radio appearances increased his visibility and popularity. Rogers crusaded for aviation expansion, and provided Americans with first-hand accounts of his world travels. His earthy anecdotes and folksy style allowed him to poke fun at gangsters, prohibition, politicians, government programs, and a host of other controversial topics in a way that was readily appreciated by a national audience, with no one offended. His aphorisms, couched in humorous terms, were widely quoted: "I am not a member of an organized political party. I am a Democrat." Another widely quoted Will Rogers comment was "I don't make jokes. I just watch the government and report the facts." When I die, my epitaph, or whatever you call those signs on gravestones, is going to read: "I joked about every prominent man of my time, but I never met a man I didn't [sic] like." I am so proud of that, I can hardly wait to die so it can be carved.[5] Lord, the money we do spend on Government and it's not one bit better than the government we got for one-third the money twenty years ago. "The average citizen knows only too well that it makes no difference to him which side wins. He realizes that the Republican elephant and the Democratic donkey have come to resemble each other so closely that it is practically impossible to tell them apart; both of them make the same braying noise, and neither of them ever says anything. The only perceptible difference is that the elephant is somewhat the larger of the two. With the famous aviator Wiley Post, on August 15, 1935 left Fairbanks, Alaska for Point Barrow. They were a few miles from Point Barrow when they became uncertain of their position in bad weather and landed in a lagoon to ask directions. On takeoff, the engine failed at low altitude, and the aircraft, uncontrollably nose-heavy at low speed, plunged into the lagoon, shearing off the right wing, and ended up inverted in the shallow water of the lagoon. Both men died instantly. Billy the Kid According to legend, he killed 21 men,[2] but it is generally believed that he killed between four and nine.[2] He killed his first man in 1877, being from his established though uncertain birthdate then age 17, although he could have been as young as 15.[1][3] He was fluent in Spanish, popular with Latina girls, an accomplished dancer, and well loved in the territory's Hispanic community.[7] "His many Hispanic friends did not view him as a ruthless killer but rather as a defender of the people who was forced to kill in self-defense," Wallis writes. "In the time that the Kid roamed the land he chided Hispanic villagers who were fearful of standing up to the big ranchers who stole their land, water, and way of life." McCarty (or Bonney, the name he used at the height of his notoriety) was 5'8" (173 cm) tall with blue eyes, blond hair or dirty blond hair, and a smooth complexion. He was said to be friendly and personable at times,[4][5] and as lithe as a cat.[4] Contemporaries described him as a "neat" dresser who favored an "unadorned Mexican sombrero".[4][6] These qualities, along with his cunning and celebrated skill with firearms, contributed to his paradoxical image as both a notorious outlaw and a folk hero.[7] Killed in a shoot out with Sheriff Pat Garrett

World History 2 Presentation: Romanticism, Realism, and Impressionism, Strayer University, 22 August 2013

Beyond the Sound Bites

Should we go with our gut feelings or plan responsibly for the future?

Prudential: Feeling or Thinking: (In Marshmallows and in Life), 2:55

Prudential placed kids before a marshmellow to see if they would go with their gut and eat, or wait responsibly to get two marshmellows. What would you do?

Comments, questions, reactions?

Ch. 12 Sec. 4 Culture: Romanticism and Realism

Note Taking:

Identify Supporting Details

In-class assignment:

As you read and we cover the material fill in a table with details about the artistic movements in the 1800s.

Main Ideas

At the end of the eighteenth century, Romanticism emerged as a reaction to the ideas of the Enlightenment. The Enlightenment was seen as overly rational and head oriented whereas romanticism emphasized gut feelings, and the heart.

Intro to section:

Nineteenth-century Romanticism—with its escape from an increasingly complex and industrialized world to the simplicity and purity of nature—is experienced through the literature of Hugo, Brontë, Shelley and Byron. In Les Miserables for instance, Victor Hugo views society as the force that makes men evil. Attitudes toward passions are typified in scenes from Wuthering Heights. Ideals of life and death are brought home in the reenactment of Shelley's funeral pyre on the beach, as his friend and fellow poet, Lord Byron, swims out to sea for a better view.

The Industrial Revolution created a new interest in science and helped produce the gritty, Realist movement.

Video intro: a commentary on Realism (sometimes called Naturalism).

Literary Realism and Naturalism, 2:53

In-class assignment: copy the formula to understand Realism.

Fate = C (chance) + E (environment) + H (heredity).

Key Terms

romanticism

Romanticism
Albert Bierstadt, Hetch Hetchy Canyon, 1875

realism

Objectives, at the end of the section the student should:

*Understand what themes shaped romantic art, literature, and music.
*Explain how realists responded to the industrialized, urban world.
*Describe how the visual arts changed.

People to Identify

Some initial examples will be identified.

Ludwig van Beethoven

William Wordsworth

Lord Byron

impressionism

Claude Monet

This is a file from the Wikimedia Commons. In 1872, Monet is credited with beginning the style known as Impressionism, with his painting, "Sunrise (Impression, soleil levant)," for which the Impressionist movement was named. In the 1800s, “The Salon,” an annual exhibition that accepted only traditional paintings, dominated the Parisian art scene. In 1874, a group of artists held their own exhibition at a local photographer’s studio. Claude Monet’s Impression: Sunrise was one of the works displayed. Monet’s painting demonstrates several characteristics of impressionist work, including short, visible brush strokes and an idealized depiction of a landscape.

Impressionism was one of the most important art movements of the 1800s. It marked a departure from tradition, both in subject matter and painting technique. Artists sought to depict the human eye’s first perception of a scene. Characterized by the use of unmixed primary colors and small, visible brush strokes, impressionism attempted to show the effects of direct or reflected light. Impressionist artists often painted outdoors for maximum effect.

In-class assignment:

Thinking Critically

1. Summarize

How did impressionism depart from tradition?

In-class assignment: paraphrase Wordsworth, in your own words, how is this a Romantic understanding of nature?

As I am suggesting, Romanticism does not refer to romance in the sense of an affectionate relationship, but rather to an artistic style emphasizing nature, imagination, freedom, and emotion. Romanticism was a reaction to the neoclassical writers of the Enlightenment, who had turned to classical Greek and Roman literature and ideals that stressed order, harmony, reason, and emotional restraint. In contrast to Enlightenment literature, the works of romantic writers included simple, direct language, intense feelings, and a glorification of nature. Artists, composers, and architects were also followers of the movement.

The Romantic Hero

Indiana Jones: The American Romantic Hero

This video considers Indiana Jones, and how he is portrayed as a true American Romantic Hero throughout, 7:29.

In-class assignment: in a word cloud, summarize the important characteristics of Indiana Jones as a Romantic hero.

A sample word cloud is suggestive of what you should understand at this point.

Romantic writers created a new kind of hero—a mysterious, melancholy figure who felt out of step with society. “My joys, my grief, my passions, and my powers, / Made me a stranger,” wrote Britain’s George Gordon, Lord Byron. He himself was a larger-than-life figure equal to those he created. After a rebellious, wandering life, he joined Greek forces battling for freedom. When he died of a fever there, his legend bloomed. In fact, public interest in his poetry and adventures was so great that moody, isolated romantic heroes came to be described as “Byronic.”

From Romanticism to pop culture, we have had numerous, mysterious, and melancholy figures who are out of step with society. These are Romantic, Byronic, figures.

One of the first rebels in American post-war pop culture was Marlon Brando in "The Wild One."

The Wild One is a 1953 outlaw biker film. It is remembered for Marlon Brando's portrayal of the gang leader Johnny Stabler as a juvenile delinquent, dressed in a leather jacket and driving a 1950 Triumph Thunderbird 6T. Acting opposite of Brando was Lee Marvin as a rival gang leader. This low-budget production had Brando playing a rebel without a cause two years before James Dean.
The film version was based on a January, 1951 short story in Harper's Magazine "The Cyclists' Raid" by Frank Rooney that was published in book form as part of "The Best American Short Stories 1952." The story took a cue from an actual biker street party on the Fourth of July weekend in 1947 in Hollister, California that was elaborately trumped up in Life Magazine (dubbed the Hollister riot) with staged photographs of wild motorcycle outlaw revellers. The Hollister event is now celebrated annually. In the film, the town is located somewhere in California.

Deemed scandalous and dangerous, the film was banned by the British Board of Film Censors from showing in the United Kingdom for fourteen years. Its first UK public showing, to a mostly Rocker audience at the then famous 59 Club of Paddington in London.

In a famous exchange from the movie Brando's character is asked: "What are you rebelling against?"

Brando's character slyly responds: "What have you got?"

The rebellious pop image was thereafter popularized by James Dean:

Arguably the most famous Romantic, Byronic rebel was Elvis.

In a well-known scene from one of his first movies, 'Jailhouse Rock', 1957, Elvis' character, a former penitentiary inmate (also starring Judy Tyler), has a chance to meet the parents.

Elvis Presley - Scene from "Jailhouse Rock" (MGM 1957), 3:24

In this scene Vince joins his manager/girl-friend Peggy who's visiting a party at her parent's house. The people there obviously don't know what to think of Elvis and what he's doing. They're trying to get him involved into a conversation about music but on both sides there's a lack of understanding for each other's position. The only change in music they can imagine is actually a setback to Dixieland. They're instead discussing jazz music and things like atonality, something to which Vince only can reply: "Lady, I don't know that the hell you're talkin' about..." making the generation gap obvious.

When accused of insulting her family and friends by Peggy the only thing Vince can possibly answer is a quote that has become famous over the years: "Honey, that's just the beast in me..." Something untamed, different from what was possible until now. Youth was starting to go its own way. A new age was about to dawn.

The Byronic figure in pop culture can be seen in diverse figures from Jim Morrison, to Michael Jackson, and many others such as Tupac Shakur.

The romantic hero often hid a guilty secret and faced a grim destiny. German writer Johann Wolfgang von Goethe (gur tuh) wrote the dramatic poem Faust. The aging scholar Faust makes a pact with the devil, exchanging his soul for youth. After much agony, Faust wins salvation by accepting his duty to help others. In Jane Eyre, British novelist Charlotte Brontë weaves a tale about a quiet governess and her brooding, Byronic employer, whose large mansion conceals a terrifying secret.

Music Stirs Emotions

Romantic composers also tried to stir deep emotions.

Ludwig van Beethoven

The passionate music of German composer Ludwig van Beethoven combined classical forms with a stirring range of sound. He was the first composer to take full advantage of the broad range of instruments in the modern orchestra. In all, Beethoven produced nine symphonies, five piano concertos, a violin concerto, an opera, two masses, and dozens of shorter pieces. To many, he is considered the greatest composer of his day.

An accomplished musician by age 12, composer Ludwig van Beethoven (1770–1827) agonized over every note of every composition. The result was stunning music that expresses intense emotion. The famous opening of his Fifth Symphony conveys the sense of fate knocking at the door. "Beethoven's Fifth Symphony, which he began in 1804, was first performed in Vienna in December 1808 (Cf. Hickok, Music, p. 206)."

Beethoven wrote Symphony No. 5 in C minor, Op. 67 between 1804 and 1808. It comprises four movements: an opening sonata allegro, an andante, and a fast scherzo which leads attacca to the finale.

This is a file from the Wikimedia Commons.

Yngwie Malmsteen, a Swedish musician, plays here in a 1985 rock version of Beethoven`s 5th symphony, 1:29.

Romanticism in Art

Painters, too, broke free from the discipline and strict rules of the Enlightenment. Landscape painters like J.M.W. Turner sought to capture the beauty and power of nature. Using bold brush strokes and colors, Turner often showed tiny human figures struggling against sea and storm.

Joseph Mallord William Turner RA (1775-1851) was an English Romantic landscape painter, watercolourist and printmaker, whose style is said to have laid the foundation for Impressionism. Turner was considered a controversial figure in his day, but is now regarded as the artist who elevated landscape painting to an eminence rivalling history painting. Although renowned for his oil paintings, Turner is also one of the greatest masters of British watercolour landscape painting. [Cf. Wikipedia]

Romantics painted many subjects, from simple peasant life to medieval knights to current events. Bright colors conveyed violent energy and emotion. The French painter Eugène Delacroix (deh luh krwah) filled his canvases with dramatic action. In Liberty Leading the People, the Goddess of Liberty carries the revolutionary tricolor as French citizens rally to the cause.

The focus here is "Liberty Leading the People," reimagined as a fictional Nintendo game. :)

Artwork: ‘Viva La Vida’
Here is a little background about this amazing work of art. It’s by Eugène Delacroix (French Romantic Painter) and was painted in 1830 titled “Liberty Leading The People”. Eugene Delacroix is numbered among the greatest and most influential of French painters. He is most often classified as an artist of the Romantic school. His remarkable use of colour was later to influence impressionist painters and even modern artists such as Pablo Picasso.

Liberty Leading The People; Painted on 28 July 1830, to commemorate the July Revolution that had just brought Louis-Philippe to the French throne; Louvre.

This painting, which is a sort of political poster, is meant to celebrate the day of 28 July 1830, when the people rose and dethroned the Bourbon king. Alexandre Dumas tells us that Delacroix’s participation in the rebellious movements of July was mainly of a sentimental nature. Despite this, the painter, who had been a member of the National Guard, took pleasure in portraying himself in the figure on the left wearing the top-hat. Although the painting is filled with rhetoric, Delacroix’s spirit is fully involved in its execution: in the outstretched figure of Liberty, in the bold attitudes of the people following him contrasted with the lifeless figures of the dead heaped up in the foreground, in the heroic poses of the people fighting for liberty, there is without a doubt a sense of full participation on the part of the artist, which led Argan to define this canvas as the first political work of modern painting.

Liberty Leading the People caused a disturbance. It shows the allegorical figure of Liberty as a half-draped woman wearing the traditional Phrygian cap of liberty and holding a gun in one hand and the tricolour in the other. It is strikingly realistic; Delacroix, the young man in the painting wearing the opera hat, was present on the barricades in July 1830. Allegory helps achieve universality in the painting: Liberty is not a woman; she is an abstract force.

Resources and HW:
Beethoven 5th Symphony 5 (7:38, graphical score animation):

Wikipedia on the composer Beethoven is instructive.



Chuck Berry - "Roll over Beethoven," 3:32, 1972 live on the Beat Club (German TV):

Lyrics:

I'm gonna write a little letter,
Gonna mail it to my local dj.
Its a rockin' rhythm record
I want my jockey to play.
Roll over Beethoven, I gotta hear it again today.

You know, my temperatures risin
And the jukebox blows a fuse.
You know, my hearts beatin rhythm
And my soul keeps on singin the blues.
Roll over Beethoven and tell Tschaikowsky the news.

Well if you reel and rock it,
Go get your lover, reel and rock it
Roll it over and move on up just
A trifle further and reel and rock it,
one another
Roll over Beethoven and tell Tschaikowsky the news.

Roll over Beethoven,
Roll over Beethoven,
Roll over Beethoven,
Roll over Beethoven,
Roll over Beethoven and tell Tschaikowsky the news.

(Instrumental)

Well, well,Well, early in the mornin Im a-givin you a warnin
Dont you step on my blue suede shoes.
Hey diddle diddle, I am playin my fiddle,
Aint got nothin to lose.
Roll over Beethoven and tell Tschaikowsky the news.

Roll over Beethoven,
Roll over Beethoven,
Roll over Beethoven,
Roll over Beethoven,
Roll over Beethoven and tell Tschaikowsky the news.

Electric Light Orchestra - "Roll Over Beethoven," 4:37

ELO performing on the Midnight Special in 1973.



The Romantics - "What I Like About You"

William Wordsworth updated in hip-hop style, 2:02.

HW

Preview Questions:

1. What were the major features of romanticism and realism?

2. How did the Scientific Revolution lead to secularization?

3. You should finish reading Ch. 12 Sec. 4.

4. Reading Check, p. 389

Economics Presentation, Strayer University, 22 August 2013

Beyond the Sound Bites:

Paul Krugman States that the US Economy Is Not Strong And The Statistics Do Not Look Good

Comments, questions, reactions?

Chapter 3

Business Organizations, p. 60

Section 1 Forms of Business Organization, p. 61

Most businesses operate in search of profits. Others are organized and operate like a business, although profits are not their primary concern. There are three main forms of business organization. The first is the sole proprietorship, which is a business owned and operated by one person. The second is the partnership, which is a business jointly owned by two or more persons. The third is the corporation, which is recognized as a separate entity having all the rights of an individual. The proprietorship is the most common and most profitable form of business organization. The corporation is the largest and most visible.

One is a sole proprietorship which one individual, the sole proprietor, exercises complete control over the business. Another is a partnership in which two or more individuals combine their efforts and share the profits of the business. Under both business forms, the business is an asset owned by the owner or owner, it has no existence separate from them, and any financial or legal problems encountered by the business are their responsibility. All of the owners’ assets, even those not involved in the business, are at risk. Liability is unlimited.

Main types of business

Types reviewed and advantages and disadvantages

From your reading Homework on incorporation:

In-class assignment: what are the benefits of incorporation for the founder and for the shareholder?

Sole Proprietorship, p. 62

Partnerships

Forming a Partnership, p. 65

In-class assignment: notice how partnerships are formed by entrepreneurs and investors.

We will divide the class into small groups. You have two tasks: one, do you think the "sharks" will want to partner with the entrepreneur? If so, which one? Two, would you want to partner with the entrepreneur? Why or why not?

We will discuss as a class and students can offer their assessments.

1st Episode

Shark Tank - Episode 1 (Season 1)

1. Billionaire Mark Cuban, Owner & chairman of AXS TV & owner of Dallas Mavericks; 2. Real estate mogul Barbara Corcoran. 3. Queen of QVC" Lori Greiner 4. Technology innovator Robert Herjavec 5. Fashion and branding expert Daymond John 6. Venture Capitalist Kevin O'Leary.

Mr. Tod's Pie Factory

In the exciting conclusion we see the response of the two remaining sharks:

Barbara and Daymond

S1 E01 Part 2/5

The sole proprietor is confronted with cold reality. Would you give up a substantial part of your business? How much?

Advantages

Disadvantages, p. 66

Reading Check

Contrasting

What are the differences between a general partnership and a limited partnership?

Corporations, p. 67

Corporations & Stocks Overview In a Nutshell

Corporations are everywhere. You probably deal with thousands of them every day They're such a critical part of the American economy that you probably don't even notice or think about it.

But this wasn't always the case. When the United States was born, corporate charters were rarely granted. The benefits gained through incorporation were considered so great, they were offered only to businesses that served a broad public interest. A ferry company might receive a corporate charter, but an ordinary factory would not. If you proposed to build a canal that would link towns and expand trade, the state might grant you charter. But if you sought to incorporate your flour mill, you would probably be turned away.

Long story short: you could only incorporate if your business was going to do something very special to serve the public interest.

By the middle of the nineteenth century, however, these views had changed. Policymakers came to realize that the corporate form served all Americans by facilitating economic growth. For business owners, the corporation offered a way to increase both their capital and the stability of their businesses. For investors, the corporation offered a relatively risk-free way of taking part in emerging commercial opportunities.

Today, corporations bring in more than 80% of all dollars earned in America. Savvy stock investors participate in a global exchange worth more than $100 trillion. Corporations are here to stay, and they provide many of the best opportunities for individuals to get ahead in the world. Yet many people are left behind simply because they do not understand how to read a financial website. Are you one of them? Read on, and you won't be.

Why Should I Care?

Lots of people think corporations are defined by their size. They assume that they are gargantuan megabusinesses with thousands of employees and millions, maybe billions, in profits. But individuals can form corporations—your neighbor the accountant, your aunt the dentist, and your couldn’t-get-a-real job “life-coach” cousin Fred could all be incorporated. A corporation is just a type of business organization with specific legal and structural characteristics. Many corporations are among America’s largest businesses, but size is not a defining feature of the corporation.

So what are the defining features of the corporation? And what benefits do business people gain by incorporating? Perhaps most important—what’s in it for you? Read on and find out.

Corporations and Stocks game

Cf. http://www.shmoop.com/corporations-stocks/game.html

In regards to corporations, many people think that the financial websites that track the stock market are a confusing batch of secret codes. They are intimidated by the jumble of numbers and symbols clearly meant for only the most sophisticated analysts. But most of these numbers are little more than price tags—today's price tags compared with old price tags—so that you can see how the market has changed. The stock market is complex, and money can be lost—but it’s not too complex for most savvy consumers to understand what's going on... and perhaps to profit.

So what do all those numbers about the stock market really mean? And what does all the jargon—margin, short, put call—really mean? Read on and find out.

Main Idea

In-class assignment:

What is a corporation? What is it composed of? What sort of positions and functions are characteristic of a typical corporation?

Corporate Structure

http://glencoe.com/sites/common_assets/socialstudies/in_motion_08/epp/EPP_p68.swf

Cf. http://glencoe.com/sites/common_assets/socialstudies/in_motion_08/epp/EPP_p68.swf

Forming a Corporation
A corporation is a very different type of business organization. Most significantly, a corporation is a business entity legally separated from its owners. When business owners decide to incorporate they secure a charter from the state government. This charter is like a birth certificate, establishing the existence of a new and separate legal entity. Once incorporated, the corporation can buy and sell property, enter into contracts, sue, and be sued... just like a living, breathing person.

In fact, that's what a corporation is: a legal "person." (The word "incorporate" shares the same root as "corpse"; it means something like "to give it a body.") The idea is that the corporation is a fictitious person, with many of the same rights under the law as a real person.

For the sole proprietor turned corporation, there are several benefits. Most importantly, his personal assets (home, car, boat, iPod) are no longer at risk should the corporation have problems. If the corporation is sued, only its assets are at risk. If the corporation goes broke, its creditors can only go after the corporation’s assets. As there is a legal barrier separating the corporation and its owners, the owners enjoy limited liability.

There are other benefits as well. To finance expansion, corporations may sell stock. Most corporations, in fact, do not sell stock to the public; all of the stock is privately owned. But if a company decides to expand its capital base by “going public” it issues an initial public offering or IPO. People buying the stock acquire partial ownership in the corporation. And the more shares they buy, the larger percentage of the corporation they own. Of course, this also means that the original owners also have to share profits. These may be distributed to the shareholders quarterly in the form of dividends.

Corporations may also raise money by selling corporate bonds. Like governments, corporations may issue bonds that promise repayment over a specified period at a certain interest rate.

Another benefit of turning a sole proprietorship or partnership into a corporation is that the business becomes more durable—that is, it is no longer so tied to the health of the founder. If the founder dies, the corporation lives on. Similarly, a corporation is less dependent on the talents of its founders. As corporations grow, they are governed by a board of directors elected by the shareholders. This board selects a president or CEO (chief executive officer) to manage the corporation. A sole proprietorship may have a technically brilliant but, from a business point of view, inept founder. He may turn the business over to his even more incompetent children. But the governing structure of corporations allows management to be handed over to professionally trained executives.

Summary and review

Proprietorship - owned and run by a single person.

Partnership - jointly owned by two or more persons.

Corporation - business organization recognized by law as a separate legal entity with all the rights of an individual.

Resources and HW

Thursday HW
1. p. 66, Reading Check, Contrasting, What are the differences between a general partnership and a limited partnership?
2. p. 67, What is the relationship between a dividend and a stockholder?
3. p. 67, How does common stock differ from preferred stock?

Barrett Strong - Money (That's What I Want) (with lyrics), 2:39

Barrett Strong recorded this in 1959 for Motown records, it reached number 2 on the R&B charts and 23rd on the US Pop charts making it Motown's first hit. Barrett Strong later went on to become one of Motown's most famous song writers.

Beatles, You Never Give Me Your Money, 3:26

Fall 2011: Government for Everybody, Jantzen; Street Law

Government Workbook:
http://www.ecampus.com/shoppingcart.asp?action=add&newused=P&item=77824&x=36&y=18&r=1&c=

Street law:
http://www.glencoe.com/sec/socialstudies/street_law/index.php

6 days notice, emailed parents/students with Quiz Prep info/5 multiple-choice questions

Quiz Ch. 8 Section 2 Industrial Revolution

Number of Grades	29
Range of Grades	(20% - 100%)
Mean	76.6%
Median	80%
Mode	80%

Grade Distribution by Grouping
%
0 - 9
10 - 19
20 - 29	(1)
30 - 39
40 - 49	(2)
50 - 59
60 - 69	(5)
70 - 79
80 - 89	(14)
90 - 99
100+	(7)

Grade Distribution of each Grade
%
20	(1)
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40	(2)
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60	(5)
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80	(14)
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100	(7)

Quiz Ch. 8 Section 2 Industrial Revolution

Number of Grades	32
Range of Grades	(20% - 100%)
Mean	68.1%
Median	80%
Mode	80%

Grade Distribution by Grouping
%
0 - 9
10 - 19
20 - 29	(2)
30 - 39
40 - 49	(3)
50 - 59
60 - 69	(10)
70 - 79
80 - 89	(14)
90 - 99
100+	(3)

Grade Distribution of each Grade
%
20	(2)
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40	(3)
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60	(10)
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80	(14)
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100	(3)

Quiz Ch. 8 Section 2 Industrial Revolution

Number of Grades	29
Range of Grades	(60% - 100%)
Mean	79.3%
Median	80%
Mode	80%

Grade Distribution by Grouping
%
0 - 9
10 - 19
20 - 29
30 - 39
40 - 49
50 - 59
60 - 69	(4)
70 - 79
80 - 89	(22)
90 - 99
100+	(3)

Grade Distribution of each Grade
%
60	(4)
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80	(22)
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100	(3)