Analysis Of George Wilson s God Freaking Idiots

God, Freaking Conformists (A constructed response to a quote by Colin Wilson) Conformity is a thing that most people succumb to unknowingly. A quote by Colin Wilson describes those poor souls as follows, The average man is a conformist, accepting miseries and disasters with the stoicism of a cow standing in the rain†. This quote could be interpreted as an insult of man and their cowardice, but if you look past it and think about the context of the world the quote is applying it becomes a massive discrediting of all that man stands for. The quote looks past the trivial little man and looks more so at the center of this damned society. This quote looks to denounce three major systems that perpetuate a constant stink of society breaking conformity. Those three horrendous breeding grounds of conformity are as follows, organized religion, patriarchal society, and the educational system. Organized religion is the end all be all source of the plague that is conformity. Ever since the dawn of the first organiz ed religion man has felt the pressure of his traitor’s brothers to not think for himself and just take what this new religion is telling him to do. This new religion and could tell this man to kill his first born for his god, and without thinking he would do if for the good of his lord. Does this man want to do this? Well, he has been so indoctrinated by his peers and his society that you should be a faithful man and listen to your god. This man’s mind would be so clouded

The United States Federal Government - 1162 Words

When voters elect representatives, they elect the leaders who will mold the future of the society. This is the reason why elections entitle an ordinary resident; it allows people to influence the future policies of the government, and people’s future. The United States relies on a complex system of government, where the national government is central but state and local governments utilize control over affairs that are not meant for the federal government. State and local governments have varying degrees of independence in how the organize elections within their jurisdiction, but they hold frequent and self-administered elections. Research on party control and the spread of public expenditures in the United States is sparse. Several studies of the United States federal government shows a positive association between share of spending going to a district and the Democratic vote in that area. Considering that Democrats were the majority in Congress during the observed year, the studied results reflect the behavior of the Democratic Party and the features of areas that tend to vote for Democratic party. Bipartisan system may be ideal, but it is clearly not a extensive event in the United States. Republicans dominate the Northeast and Middle West while the Democrats dominate the southern states. Republicans are seen as the conservative and emphasize their ideology on property rights and buildup of wealth and the Democrats are seen to favor social and economic policies. TheShow MoreRelatedThe United States Federal Government942 Words   |  4 PagesThe United States federal government should limit the influx of r efugees into the United States. Currently, three different entities oversee the United States Refugee Admissions Program. 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Those powers are all vested by the US constitution which is in the congress, the president, and also the federal court that also includesRead MoreThe United States And The Federal Government1057 Words   |  5 Pagesemploying over one hundred and fifty eight million in the year 2011 were in the workforce based on the United States, Bureau of Labor Statistics a federal agencies reporting to the Office of Personal Management, known as the federal government. The federal government is a perfect snapshot of how four different generations collaborate and work together, supporting and running our federal government. I think about 911 quite often; my company lost eleven victims was in the office at the World TradeRead MoreThe United States Federal Government Essay910 Words   |  4 PagesTo guarantee a partition of forces, the U.S. Federal Government is comprised of three branches: legislative, executive and judicial. To guarantee the administration is successful and nationals rights are ensured, every branch has its own particular forces and obligations, incorporating working with alternate branches.(Branches of Government  · House.gov n.d.) The legislative branch is comprised of the House and Senate, referred to all in all as the Congress. Among different forces, the legislativeRead MoreThe United States Federal Government1238 Words   |  5 PagesIntroduction The United States Federal Government collects taxes to finance various services to the citizens. According to Rubin 2013, â€Å"Budgeting implies balance between revenues and expenditures, and it requires some kind of decision-making process.† A budget associates responsibilities to these resources, ensuring that money is available to go to war, infrastructure and to help citizens in need. 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The United States Federal government has its exercise of sovereignty, in other-words, it has legal and accepted authority to regulate people’s living within a certain geographic area that it has jurisdiction over—and also has regulatory power over, private and public sectors. Here in the United States we have a representative democracy, the government operates as if it is running a serviceRead MoreThe United States Federal Government875 Words   |  4 PagesToday, many Americans are firm believers that the federal government is constantly overreaching and causing citizens to feel harassed and mislead. The idea that the federal government has become overly powerful is exceedingly common throughout the United States. In many cases, the federal government does overstep by inappropriately using the power that they possess. However, there is a fine line between rebelling against the federal government for your own freedom and completely overlooking all ofRead MoreThe United States Federal Government Essay1429 Words   |  6 Pages The quality of life today for most Native Americans is drastically lower than that of the average non-Native American. Why? The United States federal government failed to continue the upward economic trajectory of the Native peoples. The aid and reconciliation Calvin Coolidge desired were not continued successfully. Instead, it is evident that while the Department of the Interior and the Presidential administrations after Coolidge have have had empathy and a desire for the Native Americans’Read MoreThe United States Federal Government1346 Words   |  6 PagesThe United States federal government is composed of three institutions, the Congress, the President, and the Supreme Court. Based on the Constitution of the United States, the federal system, and the separation of power, the three branches exist and each represents the three institutions, the legislative branch is vested by the Congress, the judicial branch is vested by the Supreme Court, and the executive branch is vest ed by the President. The three distinct branches are respectively independent

Development in Oil and Gas Management PoG 350

Question: Discuss about the Development in oil and gas management PoG 350. Answer: Introduction The study provides a brief view about the risk management process along with the importance of innovative strategies in an organization. Before initiating the risk management process, it is important to go through the risk assessment process in order to determine the risk presents in the present scenario (Glickman and Gough 2013). Risk assessment is a systematic method and sensible measurement process of identifying the risk that helps the organization to control the risk (Haimes 2015). The risk management process is method of prioritization that helps in general analyzing to build security goals and guidelines in order to reduce the uncertainty (Pritchard and PMP 2014). The organizations include innovative strategies to lead the business towards growth. In the present business market, some companies engage in strategic innovation to take their business in the next level. Apple, Dyson, Samsung, Barclay S, IKEA, BP are the well known companies that deliver new innovative products in the world market. On the other way, some companies such as Nokia, Blockbuster, BlackBerry, Mark and Spencer failed to make innovation in their production. The companies that pursue several innovative strategies are able to make more revenue and acquire sustainable growth. Due to improper management and lack of strategic innovation, other companies are lagging behind. Here, the researcher has chosen a company that incorporates several innovative strategies but somewhere it has more opportunities to make growth in their business. Here, the study discusses the above mentioned business activities by considering the company Oil Gas UK. The respective organization is the leading trade association for oil and gas industry of United Kingdom (Oilandgasuk.co.uk. 2016). In this particular study, the risk management procedure of the respective organization is demonstrated along with the innovative strategies they pursue and they need to pursue as well. Present business scenario and issue identification The present business scenario of Oil Gas UK would help to analyze the market position of the organization. In the year of 2014, the respective organization has provided 68% of the total primary energy of United Kingdom (Oilandgasuk.co.uk. 2016). According to DECC (Department of Energy Climate Change), the percentage will increase by 70 in the year of 2030 (Prpich, Coulon and Anthony 2015). In 2014, the average price of Brent oil is measured was $99 per barrel. This is lower than the amount measured in the past three years. It was $109, $112, $111 in the years 2013, 2012, 2011 respectively (Oilandgasuk.co.uk. 2016). The average price has been declined further in the year of 2015. It was $58 in 2015 (Oilandgasuk.co.uk. 2016). In the period 2014-2015, the organization has paid 2.2 billion on the corporate taxes of production. It is found as the lowest amount in the past 20 years due to the decreasing oil price (Oilandgasuk.co.uk. 2016). The prime goal of the organization is to reduce the expenditure as a whole and improve the efficiency. In 2014, the capital investment of Oil Cost UK was 14.8 billion which was the highest amount in the past four years (Oilandgasuk.co.uk. 2016). In the year of 2015, they have expected that the amount will be reduced up to 10-11 billion. As per their investment assumption, they have expected the amount of capital investment would fall by 2-4 billion every year (Bennear 2015). The operating cost of the organization was increased by 9% in the year 2014; it was 9.7 billion. In that year, Oil Gas UK expected to reduce their operating cost by 22% at the year of 2016. In addition, they expected to reduce it up to 9.3 billion and 8.6 billion in 2015 and 2016 respectively (Oilandgasuk.co.uk. 2016). Besides, the total pre-tax expenditure was raised by 3% in 2014. As a result, they have experienced rising expenditure as well as decreasing revenue in the last year. It led the organization to confront 4.2 billion cash flow deficit in 2015, which was the largest amount in its history (Oilandgasuk.co.uk. 2016). Risk assessment and Risk management process in Oil Gas UK As per the statement of Ward, Stuart and Bloomfield (2015), the environmental issues become the central point of risk assessment in the oil industry from the last decade. Oil Gas UK maintain a systematic procedure to identify the hazards. However, they fail to identify the scope of risk identification. Somehow, the traditional procedure fails to deal with the current challenges of world oil and gas market. Environmental Impact Assessment (EIA) is one of the major risk assessment process that the organization pays heed on (Tan, Ortiz-Gallardo and Perrons 2016). The organization has formalized the EIA process over time to make the process more effective. Apart from this, preliminary screening and scoping process is pursued in order to indentify the depth requirements of the organization. Akhurst et al. (2015) stated that certain risk evaluation and management process is followed by Oil and Gas UK in order to resolve the complexities and hitches found during the risk assessment process. Certain stages are included in the process of risk management such as hazard identification, identification of consequences, magnitude of consequences, probability of consequences, and risk reduction or elimination. It has been found that the company is facing cash flow deficit due to lower oil price in UK. Besides, the capital investment declines and at the same time the operating cost increases. In this context, the major hazard is the company is confronting problems regarding competition in the global market. Technological progress failed to reach the company in that position where it can acquire more revenue as well as profit. They failed to identify the consequences before and that is the reason they are facing this uncertainty in the present situation. In terms of these consequences, they need to address the root cause of this risk which they fail to do. Asgari et al. (2015) added that the organization might resolve the problems they have for short term period only which will cause long term issues. The long term issues might reach at a unsolvable stage if they are not uprooted. In this case, Oil Gas UK has taken the short term issue solving strategy that led them in todays complexity. Besides, it is important to determine the magnitude of consequences to predict the future risk that they might face in upcoming years. The magnitude of consequences helps in assuming the probability of the further consequences (Torres, Yadav and Khan 2016). Through predicting the future risk, an organization can make certain strategies to deal with the uncertainty. Oil Gas UK has skipped the stage of consequence identification and thus they failed to determine the magnitude as well as probability of consequences. The risk management process is pursued without implementing the previous major stages that made the company to face certain issues. The risk management process was not followed effectively which is one of the prime reasons behind the cash flow deficit that occurred recently in their business. Innovation in Oil Gas UK Trutnevyte et al. (2016) sated that strategic innovation is an approach and creative process that bring breakthrough ideas to drive the business towards growth and development. Strategic innovation is needed to acquire comparative advantages over the competitors and deliver strong competition to the rival companies as well. The prime mission of considering strategic innovation in the business process is to take the business in a new growth level and create a sustainable position in the market. It helps the organizations to look beyond their boundaries that help them to focus on both short term as well as long term outcomes. However, through pursuing innovative process, the organizations are able to expand their business, reduce cost in the long run, and reduce dependency on the workforce. On the other way, the employees lose their jobs due to this process. In Addition, company has to bare high expenses in the short run for incorporating new ideas and techniques. The above sections have discussed about the business scenario of Oil Gas UK in the present business market. Along with that, the study has brought out some of the major challenges that the company has been confronting since last 2-3 years. It has been found that technology progress has taken place in order to eliminate the complexities but could not meet the objectives. Innovation is required in the technology, business operations and activities to uproot the issues in the short run (Radnejad and Vredenburg 2015). Though, it is not possible to resolve all the problems exist in their business in the short period of time, thus long term planning as well as strategy is needed. Primarily, they need to reduce their operation cost and improve their efficiency to achieve their ultimate goal. Innovative management system and technology would help them to create more opportunities in order to grow their business. Asset integrity and reliability As per the statement of Webb (2015), asset integrity defines that the entire assets, that the organizations have, can perform effectively as well as safely as per the required actions. The Oil Gas UK require making sure that the assets it has are working correctly and fulfilling their expectations. It has been found that almost 30% of the platforms of their operating areas have been functioning foe more than 20 years and thus became ageing assets (Oilandgasuk.co.uk. 2016). These platforms are facing constant growing challenges in both the domestic as well as the world market. The major challenge that the company confronts regarding their assets can be split into two main categories. One is material related issues, and the other one is inspection and maintenance issue. Before initiating innovative business process, they need to create innovation ways in the material utilized in their production process. Apart from this, the management body should take innovative ways monitor the inte grity of the materials and understand the corrosion under insulation. Material As opined by Dholakia et al. (2015), it is important for the organizations to understand as well as monitor the integrity of the materials in order to reduce the probability of uncertainty. Through adopting innovative ways, Oil Gas UK can enhance the material performances in the changing environments. A high level of guidelines can be established to create several managing ways when the workers have to change the operational processes on the existing materials (Trutnevyte et al. 2016). The process of predictability of asset life provides the opportunity to extend the life of the existing assets. In addition, the company needs to apply Full Life Cycle Design (FLCD) principles to maximize the asset life. Inspection and Maintenance In the present situation, the company is seeking new strategies and ideas in inspection and maintenance of the assets. Best engineering practices need to be implemented to increase accuracy of fatigues (Banks 2015). The process of controlling obsolescence would help to manage the component obsolescence in an effective way. The upgraded obsolete subsea control system would help to control the obsolescence (Hansen and Steen 2015). Seven dimensions within a strategic innovation framework According to Upham, et al.(2015), the strategy innovation process is the systematic ways of creation of certain growth strategies and implementation in the business models. Along with seven dimensions, the strategy innovation framework of the respective organization can be framed. Seven Dimensions strategy innovation process Time frame 1. A managed innovation Process Along with the traditional approaches, Oil Gas UK should implement some non-traditional approaches in their business. Through identifying the internal capabilities, they would able to facilitate the interplay between internal practices and the external opportunities (Littleford et al. 2016). 2 months 2. Strategic Alignment It is the process of building internal support for the business activities (Costa-Campi, Garca-Quevedo and Trujillo-Baute 2015). This would help the stakeholders of the company to pursue common goal, vision, and actions. 6 months 3. Industry Foresight Storbacka and Nenonen (2015) stated that it is the understanding of emerging and converging trends. Besides adopting new technology, the company should look over the alternative ways of innovation in order to deal with the challenges. 1 month 4. Consumer/Customer Insight It defines the ways of understanding both the articulated and unarticulated requirements of the existing as well as potential consumers (Song and Oh 2015). Through prioritizing the customers, they can achieve their goal of improving efficiency. 6 months 5. Core Technologies and Competencies The core technology and competencies of Oil Gas UK is the set of their internal capabilities, assets of the company, and organizational competencies. Through increasing the core technology, the organization would able to value their customers more. 8 months 6. Organizational Readiness It determines the ability of the organization to implement new ideas and techniques. It has been found that technological progress was occurred but failed to eliminate the problems it has. Innovation is needed to manage all the operational, financial, and political factors (Haugh 2015). 6 months 7. Disciplined Implementation After planning the strategies, the company needs to implement them in a different way. The management body of the organization could keep track records of their operational progress. All the activities need to be framed in order to help all the stakeholders to perform efficiently. 12 months Table 1: Seven dimensions of strategic innovation framework (Source: Foss and Saebi 2015) Figure 1: Seven dimensions of strategic innovation framework (Source: Foss and Saebi 2015) Conclusion The study concludes that the average price of oil and gas has been decreasing in United Kingdom, thus the organization Oil Gas UK are confronting certain challenges. The operating cost of the company increases and this make them to face cash flow deficit. In the risk assessment process, they failed to address the scope of the risk identification. This results low comparative advantages in the world market. Further, it has been found that technological progress could not help the company to increase their revenue. Therefore, the study asserts that the company needs to adopt innovative strategies and techniques in order to deal with the difficulties present in the current business scenario. The seven dimensions of strategic innovation have manifested the fields that the company should look over. Reference List Akhurst, M., Hannis, S.D., Quinn, M.F., Shi, J.Q., Koenen, M., Delprat-Jannaud, F., Lecomte, J.C., Bossie-Codreanu, D., Nagy, S., Klimkowski, L. and Gei, D., 2015. Risk assessment-led characterisation of the SiteChar UK North Sea site for the geological storage of CO2.Oil Gas Science and TechnologyRevue dIFP Energies nouvelles. Asgari, N., Hassani, A., Jones, D. and Nguye, H.H., 2015. Sustainability ranking of the UK major ports: Methodology and case study.Transportation Research Part E: Logistics and Transportation Review,78, pp.19-39. Banks, M., 2015. UK businesses bag innovation awards.Physics World,28(9), p.9. Bennear, L.S., 2015. Offshore Oil and Gas Drilling: A Review of Regulatory Regimes in the United States, United Kingdom, and Norway.Review of Environmental Economics and Policy, p.reu013. Costa-Campi, M.T., Garca-Quevedo, J. and Trujillo-Baute, E., 2015. Challenges for RD and innovation in energy.Energy Policy,83, pp.193-196. Dholakia, U.M., Mittal, V., Han, K. and Dayal, A., 2015. Results from the Oil Gas Services Sector: The 2015 Strategy and Corporate Performance in the Energy Industry (SCOPE) Study.Available at SSRN. Foss, N.J. and Saebi, T. eds., 2015.Business Model Innovation: The Organizational Dimension. OUP Oxford. Glickman, T.S. and Gough, M., 2013.Readings in risk. Routledge. Haimes, Y.Y. ed., 2015.Risk modeling, assessment, and management. John Wiley Sons. Hansen, G.H. and Steen, M., 2015. Offshore oil and gas firms involvement in offshore wind: Technological frames and undercurrents.Environmental Innovation and Societal Transitions,17, pp.1-14. Haugh, A., 2015. Position Fixing Requirement of the Oil Industry.The International Hydrographic Review,58(1). Littleford, S.J., Holyoak, S., Birch, W. and Shepherd, D., 2016, January. Subsurface Wireless Intervention Technology Development for the Acquisition of Subsurface Static and Dynamic Fluid Level in Oil and Gas Wells. InSPE/IADC Middle East Drilling Technology Conference and Exhibition. Society of Petroleum Engineers. Oilandgasuk.co.uk. (2016). Oil Gas UK. [online] Available at: https://oilandgasuk.co.uk/ [Accessed 24 Mar. 2016]. Pritchard, C.L. and PMP, P.R., 2014.Risk management: concepts and guidance. CRC Press. Prpich, G., Coulon, F. and Anthony, E.J., 2015. Review of the scientific evidence to support environmental risk assessment of shale gas development in the UK.Science of The Total Environment. Radnejad, A.B. and Vredenburg, H., 2015. Collaborative competitors in a fastchanging technology environment: open innovation in environmental technology development in the oil and gas industry.International Journal of Entrepreneurship and Innovation Management,19(1-2), pp.77-98. Song, C. and Oh, W., 2015. Determinants of innovation in energy intensive industry and implications for energy policy.Energy Policy,81, pp.122-130. Storbacka, K. and Nenonen, S., 2015. Learning with the market: Facilitating market innovation.Industrial Marketing Management,44, pp.73-82. Tan, K.H., Ortiz-Gallardo, V.G. and Perrons, R.K., 2016. Using Big Data to manage safety-related risk in the upstream oil gas industry: A research agenda.Energy Exploration Exploitation,34(2), pp.282-289. Torres, L., Yadav, O.P. and Khan, E., 2016. A review on risk assessment techniques for hydraulic fracturing water and produced water management implemented in onshore unconventional oil and gas production.Science of The Total Environment,539, pp.478-493. Trutnevyte, E., McDowall, W., Tomei, J. and Keppo, I., 2016. Energy scenario choices: Insights from a retrospective review of UK energy futures.Renewable and Sustainable Energy Reviews,55, pp.326-337. Upham, P., Lis, A., Riesch, H. and Stankiewicz, P., 2015. Environmental Innovation and Societal Transitions. Ward, R.S., Stuart, M.E. and Bloomfield, J.P., 2015. The hydrogeological aspects of shale gas extraction in the UK. Webb, J., 2015. Improvising innovation in UK urban district heating: The convergence of social and environmental agendas in Aberdeen.Energy Policy,78, pp.265-272.

Restructuring - Removing and Reviewing the Social Contract

Question: Discuss about the Restructuring, Removing and Reviewing the Social Contract. Answer: History of James Hardie James Hardie was founded in the late nineteenth century, and became an iconic company, especially in Australia in the twentieth century, for mining, importing and manufacturing asbestos-based products. Commonly referred to as fibro, fibro-cement played a key role in the growth of expanding cities as it was a cheaper alternative to brick, but supposedly safe and durable. However, fibro sold by James Hardie was made of asbestos, which even back in the 1930s was known to be causing deadly lung disease (Ministry of Health Report 1938, cited in Kjellstrom 2004). Indeed, for James Hardie, the first workers compensation case occurred in 1939 (Hills, 2005); but it was not until the mid-1960s that James Hardie was given information on asbestos-related diseases among its employees in which they were told that liabilities could be as high as A$1.5 million, which set against shareholders funds of $30 million seemed significant (Haigh, 2006). Despite these health warnings and potential impact of liabilities from compensation, James Hardie continued to manufacture the product until 1987. Asbestos and its health impacts Asbestos has been found to cause many medical conditions including lung disease and, in particular, mesothelioma, lung cancer and asbestosis. Mostly, however, it takes between 15 to 30 years before symptoms present themselves after people are exposed to asbestos dust (Smartt, 2004). Asbestos was mainly used in domestic and industrial buildings, brake linings, fibro sheeting, pipes and insulation. The health effects of its use are not limited to employees, however; they also include neighbours of mines and manufacturing plants, and demolition contractors. These effects are recognized internationally (Jackson, 2004). The fact that the medical implications of exposure to asbestos were known as early as the late 1930s, and that James Hardie knew about it via their own employees workers compensation claims in the 60s, and the fact that it took another 20 years until the manufacture of asbestos products ceased, showed that manufacturers knew at an early stage about the dangers of asbestos and made a commercial decision to keep producing it, thereby jeopardizing lives (Spender, 2003: 235). The Medical Research Compensation Foundation (MRCF) and restructure In early 2001, the board of James Hardie made several announcements, one of which was the establishment of the MRCF. This fund was to compensate sufferers of asbestos related diseases and claims against two former James Hardie subsidiaries and fund medical research aimed at finding cures for these diseases (JHIL, 2001). The fund was established to effectively resolve any liability in relation to asbestos, which would then allow the board to concentrate on growing the company for the benefit of all shareholders (JHIL, 2001). The foundation was supposed to have sufficient funds (A$293 million) to cover all legitimate past and future claims; the funding was by way of ownership of subsidiaries Amaca and Amaba which had net assets of $293 million, and James Hardie also stated that any leftover funds would be used to support further research on lung disease (JHIL, 2001). Later in 2001, a new holding company was set up, called James Hardie Industries NV (JHI NV), and the group moved to the Netherlands where Australia has no civil law enforcement agreements. The decision to restructure and relocate was granted by the Supreme Court of New South Wales, based on the assurance by the company that any future claims would be met and backed up by partially paid shares in JHIL held by JHI NV. However, these shares were subsequently cancelled when JHIL (later known as ABN 60 Pty Ltd) vested in a new company, the ABN 60 Foundation, which was still supposedly able to meet any obligations for the MRCF. The complex structures and restructure of James Hardie made it harder to guarantee the liability of claims would be met. The MRCF, however, had been substantially underfunded. A report by KPMG re-estimated the liabilities to be A$693 million, rising to $1044 million in 2000 (Haigh, 2006). The shortfall caused much activity by lobby groups such as trade unions and local councils, resulting in the 2004 Jackson Inquiry. The findings indicated that James Hardie had acted within the law; however, it also discovered that James Hardie did not use reliable actuarial estimates, the company had made misleading public statements and appeared to be deliberately avoiding its moral obligations to society (Tozer and Hamilton 2006). The future for James Hardie and its victims James Hardie agreed that the MRCF was underfunded. In 2005, James Hardie signed a Final Funding Agreement (FFA) with the NSW state government, where claims were re-estimated to be A$4.5 billion over 40 years (Slater and Gordon, 2005). Negotiations then began with the Australian Taxation Office to set up a charitable organisation to fund the rest of the expected liabilities related to asbestos exposure. The arrangement established the Asbestos Injuries Compensation Fund Limited (AICFL), which would receive income annually from James Hardie according to a formula based on a percentage of free cash flow and a cap percentage. The arrangement was agreed to by shareholders in early February 2007 as it is consistent with current investor and Australian Community expectations (JHI NV, 2007). Little did James Hardie know that one week later, ASIC would commence proceedings into the actions of former and current directors and executives, alleging breaches of the Corporations Act 2001. The five allegations were: Misleading communications in 2001 regarding the establishment of the MRCF. Failure to disclose in relation to Deed of Covenants between MRFC and JHIL. Restructure of the group: The scheme of arrangement, specifically the information memorandum, was misleading in terms of its lack of disclosure in relation to the meeting of future obligations. Misleading executive presentations: in 2002, presentations made to institutional investors contained information on the supposed adequacy of the MRCF in meeting its obligations in relation to asbestos liabilities. Failure of care and diligence: in relation to the cancellation of shares in JHIL, and the failure of information disclosed to ASX and ASIC in relation to the cancellation. Currently, according to ASIC (2007) the investigation, which continues, has involved a complex corporate structure, it has spanned three countries (the US, the UK and Australia) and it has involved about 348 documents, 72 examinations and the issuing of 284 notices to obtain evidence. The investigating continues as does the increase in the number of victims being identified and claims sought. It appears that the profit motive was prioritised by James Hardie at the expense of the social contract. References: ASIC, ASIC Commences proceedings relating to James Hardie, Media Release 07-35, Thursday 15 February 2007. Haigh, G., Asbestos House: The secret history of James Hardie Industries (Melbourne: Scribe, 2006). Hellicar, M., Managing Corporate Social Responsibility, Paper presented to the Social Responsibility of Company Directors Workshop, Monash University, Melbourne, 16 March 2005. Hills, B., The James Hardie Story: Asbestos victims claims evaded by manufacturers, International Journal of Occupational and Environmental Health, Vol. 11 Iss. 2 (2005), 212-14. Jackson, D.F.Q., Report for the Special Commission of Inquiry into the Medical Research Compensation Foundation (Sydney: The Cabinet Office, NSW Government, 2004). James Hardie Industries, available at: https://jameshardie.com.au, viewed 2007. James Hardie Industries Limited (JHIL), Media Release, 16 February 2001; cited in Jackson (2004) Sec 2.35, and Haigh (2006), 273-4. Kjellstrom, T.E., The epidemic of asbestos-related diseases in New Zealand International Journal of Environmental Health, Vol. 10, Iss. 2 (2004), 212-19. Slater and Gordon (2005), available at: www.slatergordon.com.au/news/docs/WEBSITE%20Hardie%20lead%20v2.pdf Smartt, P., Mortality, morbidity and asbestosis in New Zealand: the hidden legacy of asbestos exposure, The New Zealand Medical Journal, Vol. 117 (2004), 1205. Spender, P., Blue asbestos and golden eggs: evaluation bankruptcy and class actions as just responses to mass tort liability, Sydney Law Review, Vol. 25 (2003), 223-63.