Advanced Managerial Finance - 2203 Words

Question: 1. Locate the annual balance sheets for General Motors (GM), Merk (MRK), and Kellogg (K). For each company calculate the long term debt-equity ratio for the prior two years. Why would these companies use such different capitals structures? 2. Look up a company and download the annual income statements. For the most recent year, calculate the average tax rate and EBIT, and find the total interest expense. From the annual balance sheets calculate the total long-term debts (including the portion due within one year). Using the interest expense and total long term debts, calculate the average cost of debt. Next, find the estimated beta for the company on the SP Stock Report. Use this reported beta, a current T-bill rate,†¦show more content†¦b) Size of the company The size of the company will affect the capital structure of company. This is because large companies are generally lower business risk compare to small companies. Thus, large companies can raise the debt capital easily. In this case, the Kellogg is expanding their business and size of company is getting bigger, so they tend to use more debt than other companies. c) Business risk If the company is more risky in the industry, the debt-equity ratio will generally low because the company is difficult to raise debt capital due to the high risk. In this case, General Motor and Merck have low debt-equity ratio due to the high business risk such as technology, customer demands, and competitors and so on. d) Tax Exposure Tax rate of the company will influence in making capital structure decisions. The debt payments to the debtors are tax deductible. This would be the advantage for the company which has high tax rate. So, if the company has the high tax rate, they will tend to use debt capital structure to decrease their tax amount. e) Flexibility Flexibility means the ability of company to raise its capital structure to the needs of the different conditions nowadays. Company will more flexible when they have low debt-equity ratio. Due to the initial debt of the company is low, so the company most probably has the ability in paying back the debts. Thus, they will raise funds easily. In this case, General Motor andShow MoreRelatedAdvanced Managerial Finance Mini Case2153 Words   |  9 PagesPizzaPalace, a regional pizza restaurant chain. The company s EBIT was $50 million last year and is not expected to grow. The firm is currently financed with all equity, and it has 10 million shares outstanding. When you took your corporate finance course, your instructor stated that most firms owners would be financially better off if the firms used some debt. When you suggested this to your new boss, he encouraged you to pursue the idea. As a first step, assume that you obtained fromRead MoreMis System Form Functional Perspective763 Words   |  4 Pages|Strategic | Table-1.2: Examples of Manufacturing Production Systems ââ€" ª Finance Accounting Systems The function of finance Accounting is managing the organizations financial assets and maintaining the organization’s financial record. And finance Accounting Systems helps these purpose. Beneath we discuss the finance accounting system in details- |SYSTEM |DESCRIPTION |ORGANIZATIONALRead MoreData Visualization And Information Technology1006 Words   |  5 Pagesanalytics for a long time. They are designed to also be used by â€Å"nontechnical† individuals who have the curiosity and interest in spicing up their repetitive pie charts and plain bar graphs into a more in depth and visually appealing visual. 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According to Kieso, Weygant, Warfield (2014), the advanced practice nurse (APN) recognizes the relevance within nursing and the data presented in financial statements to predict the future and ascertain the potential flaws of such organization. This purpose of this paper is to analyze the implications of finances for the APN, its role in the financial welfare of a healthcare organization, examine the financial statement analysisRead MoreEbooks Solution Manuals and Test Banks for Text Books19223 Words   |  77 PagesA History of the United States, Brief Edition, Volume I, 9th Edition by Norton, Sheriff Instructor’s Manual A People and a Nation A History of the United States, Brief Edition, Volume I, 9th Edition by Norton, Sheriff Test Bank A Transition to Advanced Mathematics by Douglas Maurice Eggen 5 Solution Manual ABC’s of Relationship Selling through Service by Charles M. Futrell 11 Instructor’s Manual ABC’s of Relationship Selling through Service by Charles M. 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Having worked as a financial analytics analyst for more than 6 months at EnovaFinancial, a Chicago-based consumer online financing company, I reinforce my passion towards financial analytics. Ranging from basic data query and reporting to predictive modeling and optimization, data analytics has assumed an important role in today’s financial services

Ethical Standards - 635 Words

BSHS/335 Tracy Mallett January 21, 2015 Ethical Standards A Therapist Quandary When you look at the case of the husband who started individual counseling then his wife joined with the intentions of saving their marriage there are many ethical issues that could arise for the therapist. First there is the issue of the secret the husband is hiding about his latest affair, because the counselor did not clearly state her policy on keeping secrets the husband has an expectation of her keeping his secret about his affair. The therapist cannot tell the wife without breaking the confidentiality of the husband, however how can she continue to treat them as a couple if she has to hold this information from the wife when part†¦show more content†¦It also gives the wife a choice of whether or not she wants to continue with counseling or even the marriage itself. She should also explain that he is taking away the wife’s choices through lies and that this is unhealthy for the marriage for both of them. During individual sessions the therap ist should dig deeper with the husband to find out why he is having a hard time being faithful and if he really wants the marriage or if he just does not want his wife to move on without him because of control issues. Maybe in doing this she can help him fix his own issues, therefore helping the marriage. If the therapist cannot convince his to tell his wife or stop the affair and she is conflicted the best thing to do would be to refer the couple to someone else for couple’s therapy even if she could continue the individual therapy with the couple. Under no circumstances should the therapist tell the wife what was said to her in the individual session with the husband, nor should she say anything that would imply it was because of the husband that she can no longer do couple’s therapy with them. Although as helpers we may want to tell the person who is being lied to, our job is to help the couple to help fix their own issues and they both must want to do so. Ethical Standards References: American Association for Marriage and Family TherapyShow MoreRelatedJohnson Johnson s Code Of Ethical And Professional Standards1416 Words   |  6 Pagesor conduct is defined as any document that outlines the visions and values of a business and how to professionally deal with issues within that business. The Society for Human Resource Management has recently developed a SHRM Code of Ethical and Professional Standards in Resource management. The SHRM Code has helped many companies by giving guidelines to any company looking to create or edit their code of ethics/conduct. Johnson Johnson is a publicly owned and operated business with a clearly statedRead MoreEthical Standards for Management Accountants Essay1764 Words   |  8 PagesEthical Standards for Management Accountants Ethics in any industry is important, but for Accounting professionals and those in need of their services, it is a particularly stressed element. Information provided by accountants is used to make major decisions, including investing, downsizing, expanding, etc, so accountants are expected to be competent, reliable, and have a high degree of professional integrity. Because of these high expectations, the professional accountancy industry, like manyRead MoreEthics And The Ethical Standards Essay1626 Words   |  7 PagesThe Ethical Standards were set up to implement direct rules for conduct as a psychologist. 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(Peterson, 2004) These relationships are successful becauseRead MoreThe Standards Of Ethical Coding Essay821 Words   |  4 Pages 1. What emphasis would you place on the Standards of Ethical Coding in your area? 2. Would you include the Standards of Ethical Coding in your policy and procedure manual? 3. Would you review the Standards of Ethical Coding on a regular basis and if yes, how often? 4. What disciplinary action would you take if you found that a coder violated the Standards of Ethical Coding? 5. Would the severity of the disciplinary action depend on which standard was violated? Why or why not? 6. How doRead MoreEthical Standards, Laws And Ethical Aspirations831 Words   |  4 PagesThere are multiple ethical standards, laws and ethical aspirations that need to be addressed in this case study. First and foremost, Aspirational code of beneficence and nonmaleficence, should be addressed while problem solving this conundrum. WAC 246-924-357 also addresses the steps that the psychologist may need to make when terminating and referring services with this client. It is important to address Standard 3.04, Avoiding Harm. â€Å"Psychologists take reasonable steps to avoid harming their clients/patientsRead MoreThe Theory Of Ethical Standards1001 Words   |  5 PagesEthical standards vary from person to person, as no two people have exactly the same value systems. These value systems are influenced by one’s upbringing, perspective, and culture, big and small. The legalistic approach is one that appealed heavily to those in the past, but is being combined with different ap proaches to keep up with modern changes. According to Rathus, S., Nevid, J., Fichner-Rathus, L. 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Extreme Sports Motivation Free Essays

string(248) " extreme sports are roller-blading, windsurfing, sky diving, dancing, surfing, BMX, mountain biking, eco-challenging, kayaking, white water sports, climbing, surfing, skateboarding, extreme skiing and snowboarding \(Rinehart Sydnor, 2003\)\." Extreme Sports Motivational Factors Lawrence Cannon December 4, 2011 PE 5880 Abstract In the 1970s, extreme sports had been growing rapidly since its introduction. However, there has been little research done on extreme sport participants. In specific, the reason why consumers participate in extreme sports has not yet been investigated, although the number of participants and spectators of extreme sports is rapidly growing. We will write a custom essay sample on Extreme Sports Motivation or any similar topic only for you Order Now Since motivation is a significant factor of sport participation behavior, it is essential for the sport marketer to understand psychological needs and motivations of extreme sport participants. The purpose of this study is to analyze motivational factors of people who become involved in extreme sports. The researchers modified and applied the scale of sports participant motivation. The original scale includes forty one items which represent many motivational factors like achievement, competition, social facilitation, skill mastery, physical fitness, risk-taking, affiliation, aesthetics, aggression, value development, self-esteem, self-actualization, and stress release. A total of several samples will be included in the current study. The researcher collected the cases at the X Game Sports and Freestyle Motocross World Championships held in the United States. A chain of ANOVA and MANOVA tests will contain the data analyses. The hypothesis will suggest that extreme sport participants have a high level of motivation in fun and imitation, which are two more structures added to the original scales. The analysis of the data may also reveal that motivation of extreme sport participants vary across gender and past experience. This study will advance the knowledge base of consumer motivation research in the field of sport marketing and provides leaders in the extreme sport industry with meaningful implications. At the end of the day, the result of present studies will support the extreme sports industry in predicting the trend of action sports consumer behavior. Introduction Extreme sports are â€Å"activities that either ideologically or practically provide alternatives to mainstream sports and mainstream sport values† (Rinehart, 2000, p 506). The increased number of events and participants in extreme sports support the trend of growth in extreme sports (Liberman, 2004; Ostrowski, 2002). In the 2002 statistics, about eighty-six million people were participating in extreme sports (Ostrowski, 2002). According to American Sports Data, within the U. S. port industry, extreme sport generated one-third of sporting goods sales, which totaled to more than $14 billion (Liberman, 2004). Although the overall number of sport participants in the U. S. has increased about ten percent over the last decade, the number of participants and spectators in dominant sports such as basketball and volleyball has decreased (Stotlar, 2002). This trend in the sport industry further supports that emerging sport activities such as extreme sports gain their popularity by beco ming mainstream sports (Kress, 2003; Ostrowski, 2002). While the increased interest in motivational factors draws scholars to conduct research to investigate psychological principles of dominant sport participants, research on sport consumers in extreme sports has not been a main focus of investigation within academic area of sport management and marketing. Hereafter, there is very little information in the literature regarding the characteristics of extreme sports and its consumer’s behavior. Considering the current trend and the future prospect of extreme sports, scientific and systematic analysis of sport consumers in the extreme sport industry needs to be conducted. In particular, in order to continue and improve the profitability and productivity of the extreme sport market, sport marketers should have better understanding of the fundamental needs and wants of extreme sports participants. Needs of Study The study of motivation in sports has been conducted in various segments such as general physical activities. As the market becomes competitive within the extreme sport industry, the lack of experiential research on sport consumers, the results will widen the gap between the academic and the practical field of knowledge regarding extreme sport consumers. To fill this gap within the sport industry and sport study, there is just as much need to explore the motivation of sport consumption. Without any understanding of the motives of sport customers, sport marketers cannot successfully achieve their marketing outcomes. Thus, an investigation of what motivates sport consumption would be the first step for future development of the action sport industry. Purpose The purpose of this study is to analyze motivational factors of people who become involved in extreme sports. This study will advance the knowledge base of consumer motivation research in the field of sport marketing and provide implications for sport marketers within the emerging sport industry. This study is meaningful because the consumption motivation provides a more in-depth useful tool for determining the behavior of consumers than asking â€Å"why† (Beck, 1990). The Significance of the Study The goal of this study is to develop a better understanding of extreme sports consumers and action sport itself, then further investigate motivational factors of participants in action sports. Moreover, this research contributes to the extreme sport industry and the field of sport marketing by developing a knowledge base of extreme sport participants. Literature Review The literature review on the extreme sports industry regards the demographics, trends, characteristics of the sport consumer behavior and motivation of spectators, as well as participation in general sports. Through the process of reviewing motives of sport participants, the researcher will investigate the growth factors of extreme sports in business and the following importance of the motivation study: What is extreme sports? Who are targets? Why do people participate in extreme sports as consumers? What is the value of the motivational factors in sport concepts? Extreme sports are defined as a relatively new form of sport or â€Å"a combination of extraordinary individual achievement and unmatched personal enjoyment† (Rinehart Sydnor, 2003, p. 3). Another interpretation for extreme sports is mostly individual sports that have risk, danger or unconventional rules or techniques which differ from dominant team sports (Bennett, Henson Zhang, 2002). While dominant team sports like ootball and baseball are rooted in a traditional value such as cooperation, teamwork, character-building and group competition. The various types of sports that are called extreme sports are roller-blading, windsurfing, sky diving, dancing, surfing, BMX, mountain biking, eco-challenging, kayaking, white water sports, climbing, surfing, skateboarding, extreme skiing and snowboarding (Rinehart Sydnor, 2003). You read "Extrem e Sports Motivation" in category "Essay examples" Thus, extreme sports participants or athletes often perform daredevil acrobatic stunts which are dangerous at high speed. They tend to show off skills for spectators and stimulate viewers to try to be like. Motivation is defined as an act of instance of motivating, or providing with a reason  to act in a certain way which serves as a factor in determining an individual’s behavior or social conduct in a given situation. As a mentioned that the motive of motivation study for consumers is based on aim to discover how influences the past or present behavior on current decision making of the consumer. In general, motivation is important tool for understanding consumer behavior. There are some words that have been introduced to the general public, such as; â€Å"dizzying,† â€Å"hyper caffeinated,† or â€Å"edgy, adrenaline- inducing pursuits† are used to describe their experience with extreme sports. They are conversant with the language of dominant sports (Spiegel, 1998). In the year 2003, Howe describe some extreme sports as having grown out of the board sport culture of snowboarding, derived from surfing and skateboarding (Howe, 2003). In the same way, there are many examples of new unoriginal typical sports like; BMX racing and mountain biking are rooted in cycling. Others are barefoot water skiing stems from traditional water skiing. In-line skating was developed from roller skating. In the journal article â€Å"Gender Differences in Beliefs about the Influence of Ability and Effort in Sport and Physical Activity† their study was to explore the different gender in reasoning about the relationships between natural ability, effort, practice, and final skill level, performance across sixteen physical activities at both recreational levels. Their participants were one hundred fifty three college students that had enrolled six physical activity classes. They completed two questionnaires. Their results indicated that in physical activity domains, male students tended to have a much better natural tempo ability that as a more significant for successful skill level and performance as female students did. Their beliefs seemed to vary for activities that are gender-linked. For all the participants, natural ability was viewed as more important at the recreational level. A strategy for practitioners and coaches was to use encouragement beliefs for effectiveness of developing a challenging for conception of sports as gender-typed and promoting the concept of sports for all. In the journal article â€Å"The Extreme Sports of Research†, Mr. Bartoletti discusses the steps shared from several members of the â€Å"Team Extreme Research† group and how their methods and practices went. The group talked about how extreme sports are having a major impact on youth sport activities. School-age athletes are attracted to the fun and excitement of extreme sports such as snowboarding, BMX cycling, and skateboarding. One of the original extreme sporting events, pole vaulting, is a unique and exciting event that has been part of the scholastic track and field program for more than half a century. What I found in â€Å"Situational state balances and participation motivation in youth sport: A reversal theory perspective† Their purpose of their study was to examine the relationship between situational state balances and motives for sport and physical activity participation in adolescents using the theoretical framework of reversal theory. Their participation motives and the interacting factors of their situational state balances, gender, and level of participation were examined. The secondary school students were ages about fourteen to twenty years old who participated in competitive or recreational sport. The factor analysis were the participation motives yielded factors to which ANOVAs and MANOVAs were applied with situational state balance, gender, and participation level as independent variables. Their factor analysis resulted in seven motive factors: status, team, friend, excitement, challenge, skill, energy release, fitness, and situational factors. Their ANOVAs and MANOVAs indicated significant differences in the sport motives between the situational state balances, genders, and levels of participation, and between pairs of situational state balance groups in males and females of competitive and recreational level. Methodology The purpose of this is to identify suitable methodological procedures. The methodology is described be the relation to the following aspects of the study: survey instrument scale, the research of the questionnaire and ANOVAs and MANOVAs data analysis procedures. Questions 1) What are the extreme sports motivational factors for the participants? 2) How many different motivational factors are there in extreme sports by gender and experience? Proceed of Study I will apply a survey instrument which was developed by McDonald, Milne and Hong, in 2003. This will be examined to measure motivational factors of extreme sports participants because the existing scale is focused on motivations of both several sports participants and spectators. The survey instrument was modified by wording changes from existing scale through a field test and panel of experts and item purification through a trial test. As a second step for modifying the existing scale, a trial test was employed to test reliability of the survey instrument. The revised instrument by panel of experts was administrated to a representative sample of the target population. The researcher selected a convenience sample of students from the Sport Management classes of a large University. The participants of trial test will not be included in the final sample. The format for the survey instrument will be a seven-point format ranging from â€Å"1-10 grading scale. † With one being the lowest and ten begin the highest. Then a questionnaire will be applied of two parts. First, respondents will be asked to provide their demographic information and experiences regarding to extreme sports, such as gender, ethnic background, age, level of participants in action sports, a period of time that participation in extreme sports and type of extreme sports what they have participated in. The second part contained items of motivational factors in relation to participation in extreme sports. The survey instrument contains several items with many motivation scales. The researcher will scheduled for data collection from extreme sport competition at the X Game Sports, Freestyle Motocross World Championships. This competition, part of the Extreme Sports Championships, features the season-ending World Championships events for skateboarding, BMX, inline skating and freestyle motocross. The researcher sampled from the audiences who are interest in participating in extreme sports. The size of sample will deal with the age ranges between13-35. The researcher employed trained staffs to survey at the competition. Each staff will provide survey packets, each containing a questionnaire, a cover letter explaining the purpose of the study and directions for completing the questionnaire, and pens. The survey instrument includes the following information: personal information, the purpose of the study, confidentiality, directions on responding to questions, and appreciation for the respondent’s cooperation. In the actual survey, the trained staff for the survey introduces the purpose of the study and explains specific procedures and methods to the subject before the data collection to minimize the non-response data missing. At this point, the collected data will be analyzed by using ANOVA and MANOVA to identify the significance of motivational factors of action sports participants. Discussions It is important for sports marketers to understand basic needs of sport consumers. In particular, it is necessary to investigate the sport consumption motivation in extreme sport based upon their demographic and psychographic characteristics (Bennett, Henson, Zhang, 2003). However, there has not been organized research on extreme sport consumption motivation. This study examined motivation for extreme sports participants. Sport marketers may utilize this proposal to develop effective marketing strategies like market segmentation, differentiated program service offering to satisfy the needs and wants of extreme sports consumers. These results strengthen the relation between each groups and motivation factors to contribute to sport motivation studies. The unique contribution of the present study is verifying two new motivational factors; fun, enjoyment, trend and imitation. I think that the results may show that the mean score of fun and enjoyment will be the highest for both male and female groups although there was no significant difference between these two groups. Extreme sports participants will rate their fun and enjoyment as the most important motive and considerable effects. Thus, that I did hypothesized that some participants in extreme sports might be involved in the activities based upon their elective choice for fun and enjoyment. Also, the mean score of trend and imitation may be somewhat high for gender groups and experience groups. I have recognized that younger people who are interested in winter sports such as skiing or skating move to new sports such as snowboarding and extreme skiing. The researcher considered that younger people attempt to follow their peer group not only for fashion or music trend but also for sports activities. With this happening the researcher made a decision to try to investigate by adding the trend and imitation to the existing motivation scale. Another important finding is that different characteristics of extreme sports like fun, enjoyment, risk-taking and aesthetics were rated higher than other motivational factors by extreme sports participants including, particularly among male and the expert-level experience groups. This outcome suggests that sport marketers in extreme sports should develop differentiated marketing strategies focused on male participants and expert-level participants. In general, an extreme sport has been considered to be emerging sports just for our generation. However, this study suggests different point of view for sports marketers and scholars. Interestingly, all board-sports like snowboarding, skateboarding and surfing in this study, these extreme sports ranked top three among thirteen types of extreme sports. It will allow academics and practitioners in extreme sports to accompany with other leading or traditional sports because extreme sports have its origin to the board culture, which has a long history (Howe, 1998). For this reason, sport marketers at the extreme sports industry may able to use the marketing strategies for leading sports as cross-promotion for extreme sports focusing on the targeted consumers. At the end of the day, the discussion of the present study will support practioners in the extreme sports industry in predicting the consumption behavior of action sports participants. Further, the present study may lead sports marketers and managers to utilize the motives found for effective marketing strategies. Accordingly, sport marketers in extreme sports could highlight their targeted promotion with present study ideas. To promote and move the sports consumer for successful sport marketing, the motivation based knowledge is the first step to be studied by scholars. For the future studies, I will apply ethnic background groups and different extreme sports events participant groups regarding extreme sports consumption behavior. Conclusion In conclusion, understanding consumer is fundamental to the marketing concept. This research of motivations factors are an important determinant of extreme sports consumer behavior. Future research is needed to better develop these constructs and explore how motivation can be utilized as a segmenting tool. Such an understanding might lend itself to predicting the possibility of an individual engaging in various extreme sporting activities. Finally, sport consumption is a complicated activity in which participation and imputer are often twisted. While this study examined participation and imputer separately, future research is needed to under the relations and connections between these consumptions territory. References Bartoletti, S. (2011, April, May). The extreme sport of research. The Horn Book Magazine 87. p. 24-30 Beck, R. C. (1990). The nature of motivation theory. Motivation: theories and principles (3rd ed. ). Englewood Cliffs, NJ: Prentice-Hall, Inc. Bennett, G. , Henson, R. K. Zhang, J. (2003). Perceived status of the action sports segmentamong college students. International Sports Journal, 7(1), 95-138. Cindy, H. P. , Lindner, Koenraad, J. (2006). Situational state balances and participation motivation in youth sport: A reversal theory perspective. British Journal of Educational Psychology 76 , 369-384. Howe, S. (1998). (Sick): A cultural history of snowboarding. New York: St. Martin’s Press. Kress, A. (2003). To the extreme. The business Journal Phoenix. 23(48). 3 Li, Weidong; Lee, Amelia M; Solmon, Melinda A. (2006). Gender differences in beliefs about the influence of ability and effort in sport and physical activity. 147-156. Liberman, N. (2004). New heights or a crash landing? Street Smith’s Sports Business Journal,July 12-18, p 25. Ostrowski, J. (2002). Corporate America makes pitchmen of pariahs. Street Smith’s SportsBusiness Journal. Aug. 12-18, p. 19, 26. Rinehart, R. E. (2000). Arriving sport: Alternatives to formal sports, in Jay Coakley and EricDunning (eds. ), Handbook of Sports Studies. Thousand Oaks, CA: SAGE Publication. Rinehart, R. E. Sydnor, S. (eds. ). (2003). To the extreme: Alternative sports, inside and out. Albany, NY: State University of New York Press. Spiegel, P. (1998, December 14). Gen-X-tremist pitchmen. Forbes, 188. Sporting GoodsManufacturers Association (SMGA). (2001a). Sports Participation Top Line Report2000. North Palm Beach, FL: Sporting Goods Manufacturing Association. Stotlar, D. K. (2002). A decade of evolution: The sport industry. Sport Marketing Quarterly, 11(1), 55-58. http://www. dissertations. wsu. edu/Thesis/Fall2004/h_park_122104. pdf How to cite Extreme Sports Motivation, Essay examples

On Literature In Youth free essay sample

I have been passionate about reading since even before I could read. Each evening my dad would open up Treasure Island and let the words flow out. I can scarcely remember an age at which I couldn’t be found up all hours of the night in my bedroom, hiding a book under the covers, straining to make out the words in the darkness. From paper A-Z puppets in kindergarten on, my life has been intimately intertwined with the expansive universes of literature. Reading makes me feel a part of the infinite worlds of imagination and reality, compelling me to live up to my fantasies and embody my aspirations. Books have impacted my life in extreme and eclectic ways. My childhood devotion to nighttime reading earned me 20/200 vision in my left eye, a battle scar that required a sizable Band-Aid: bifocals. I employed my new cast as a weapon to bolster my nocturnal endeavors further. We will write a custom essay sample on On Literature In Youth or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Sometimes I sifted through the encyclopedia, absorbing all the information I could. Books of miscellaneous information were my favorite, informing me of such historical landmarks as the invention of Melba toast and the deaths of the kings of Burma. At the very least they’ve provided me with an unending supply of conversation starters. I have always had a weakness for fantasy. When I was a kid and couldn’t bear the screaming and fighting downstairs, I’d slip away to my bedroom, open up a book and disappear into the world of Ender’s Game or The Lord of the Rings. It gave me solace, a place to hide. When everything else was uncontrollable, books stayed the same. Through all my travels and experiences, I’ve had a book by my side. When I went to performing arts camp, Don Quixote followed in stride. Bluebeard accompanied me to Cape Cod. Through my trip to Romania Nelson Mandela smiled at me from the cover of Long Walk to Freedom. Recently, while searching for Purgatorio to reread, I took a look at my collection. All of my favorites are worn, scribbled in, and some even torn. My copy of The Secret Diary of Adrian Mole is held together by duct tape. They’re a bit ragtag, but it got me thinking. An unopened book is useless. I would rather have three books rendered nearly illegible by wear, pages yellowed, spines cracked, than possess the limitless tomes of Alexandria, Congress, and the Forum, all pristine in condition, out on display, never to be opened. A book’s pages are essentially blank until they are read. You must take a book, use it, and make it your own; you must cast it in the shape of your experiences and find its niche within you. From there it expands, opening you up to new universes never before imagined. That is the true magic of reading. My books have taught me to lead a dog-eared life, and that lesson will continue to challenge and guide me through each new page and chapter.