The Great Atlantic & Pacific Tea Company Essay Example for Free

The Great Atlantic Pacific Tea Company Essay Company’s briefly introduction Once one of the biggest baggers of groceries in the US, The Great Atlantic Pacific Tea Company (AP) has been reduced to a shrinking portfolio of regional grocery chains. It now runs about 300 supermarkets in New Jersey, New York, Pennsylvania, and three other eastern states. In addition to its mainstay 80-store AP chain, the company operates five banners: Pathmark, Waldbaums, Superfresh, Food Emporium, and Food Basics. AP acquired its longtime rival in the Northeast, Pathmark Stores, for about . 4 billion, but the purchase failed to reverse APs lagging fortunes. Indeed, AP in 2012 emerged from 15 months bankruptcy after a financial restructuring and closing 75 stores. More from Wikipedia: The Great Atlantic Pacific Tea Company, better known as AP, is a supermarket and liquor store chain in the United States. Its supermarkets, which are under six different banners, are found in Connecticut, Delaware, Maryland, New Jersey, New York, and Pennsylvania. APs liquor stores, known as Best Cellars, are found in Connecticut, Massachusetts, and Virginia.[2] APs corporate headquarters are in Montvale, New Jersey.[3] Supermarket News ranked AP #19 in the 2010 Top 75 Food Retailers and Wholesalers based on 2009 fiscal year estimated sales of $9.1 billion.[4] Based on 2009 revenue, AP was the 34th largest retailer in the US.[5] From 1915 through 1975, it was the largest food retailer in the nation (until 1965, the largest US retailer of any kind).[6] AP is considered an American icon.[7] The Wall Street Journal, in an editorial on December 10, 2010, said that AP was as well known as McDonalds or Google is today and that AP was Wal-Mart before Wal-Mart.[8] What is now AP began in 18 59; it established a small chain of retail tea and coffee stores in New York City and a national mail order business. It grew to 70 stores by 1878. In the late 19th century, AP, still a tea and coffee company, became the countrys first grocery chain. At the turn of the century, it operated almost 200 stores. The company grew dramatically after introducing the economy store concept in 1912, growing to 1,600 stores in 1915. After World War I, the company opened stores offering meat and produce. In 1930 the company, now the worlds largest retailer, reached $1  billion in sales with 16,000 stores.[9] In 1936, AP adopted the self-serve supermarket concept and opened 4,000 larger stores by 1950.[10] APs decline began in the 1950s when it failed to keep pace with chains which opened larger, modern supermarkets with features demanded by customers. By the 1970s, AP stores were out of date; its efforts to combat high operating costs resulted in poor customer service. In 1975, the company hired outside management, closing older stores and building modern ones. When these efforts failed to turn the company ar ound, the heirs of the original owners, and foundations that owned a majority of the stock, sold to the German Tengelmann Group. AP then launched a store-closing program financed by the surplus assets of its pension plan.[11] Starting in 1982, AP acquired several chains; these stores operated through their names rather than AP. While AP regained profitability in the 1980s, in 2002 it operated at a record loss because of new competition, especially Wal-Mart. AP closed more stores, which included the sale of its large Canadian division. In 2007, AP purchased Pathmark, one of its toughest competitors; AP again became the largest supermarket chain in the New York City area. Highly leveraged after this acquisition, the company experienced financial difficulties because of the recession and filed for Chapter 11 protection in 2010. In late 2011, AP implemented a restructuring plan to emerge from bankruptcy.[12][13] On March 13, 2012, it was announced that AP had emerged from bankruptcy and was now a private company. History: More than 150 years ago, The Great Atlantic Pacific Tea Company, Inc. (AP) began operations as The Great American Tea Company. Its first store – on Vesey Street in New York City – sold tea, coffee and spices at value prices. Soon after, stores sprung up all around the New York metropolitan area, and salesmen took their wares to the road in horse-drawn carriages bound for New England, the Midwest and the South. In 1869, the Company was renamed The Great Atlantic Pacific Tea Company, commemorating the first transcontinental railroad. In 1936, AP became the first national supermarket chain in the United States, one of many innovative concepts that radically changed the way consumers shopped. Its  vast advertising and promotional activities reached so many consumers that AP became an American icon. Below are select milestones from the Companys rich history: 1859-1899 Becoming a Grocery Pioneer * 1859 The Great American Tea Company is founded as a mail order business by tea and spice merchants George Huntington Hartford and George Gilman. The same year, the first store-warehouse operation opens in New York City at 31 Vesey Street. * 1869 The Company is renamed the Great Atlantic Pacific Tea Company, or AP. * 1880 AP begins marketing its own brand of baking powder, its first private label product. It also pioneers the use of refrigerated railroad cars to transport fruit, and becomes the first to bring fresh seafood to the Midwest. * 1881 AP becomes the first grocery chain to operate 100 stores and expands to 5,000 delivery routes. * 1880s With the publics taste for coffee growing rapidly, AP establishes its own brand, Eight O Clock Breakfast Coffee, packaged in a red bag. George Huntington Hartford names the product after the time of the day that he believed the most coffee was consumed. * 1887 Sales hit $1 million. * 1890s AP introduces premium â€Å"checks† to be redeemed for cups, saucers and other goods, marking the first original customer-loyalty program with premiums and savings coupons. 1900-1959 Becoming an Innovator and American Icon * 1912 John Hartford convinces his father and brother to launch the first no frills† grocery format in America with the opening of the AP Economy Store in Jersey City, N.J. The cash and carry store, with plain furnishings and fixtures, offered no credit, no deliveries and no premiums just quality groceries at very low prices. * 1920 The AP Economy Store concept flourishes and catalyzes an extraordinary period of growth, resulting in 4,638 stores, from about 350 stores in 10 years prior. * 1924 The AP Radio Hour launches as Americas first national radio program. Soaring in popularity through the 1930s, it featured popular artists such as Kate Smith, Harry Horlick and the AP Gypsies. * 1929 AP more than triples its store count to 15,418 stores and increases  sales five-fold to reach the $1 billion mark. * 1930s AP expands to California, Washington and Canada. * 1933 AP participates in the Worlds Fair in Chicago. Housed in a 2,000-seat amphitheater, the AP Carnival draws thousands of visitors with the AP Marionette Revue, Harry Horlick and other entertainment. * 1936 AP opens the nations first supermarket, a 28,125-square-foot store in Braddock, Pa., that enables customers to select their own groceries without the assistance of a clerk. * 1937 AP launches Womans Day magazine through a wholly-owned subsidiary, The Stores Publishing Company. The magazine features articles on food preparation, home decoration, needlework and childcare, selling for two cents a copy exclusively in AP stores. * 1941 Eight O Clock coffee becomes the best-selling brand of coffee in the world. * 1958 Sales grow to $5 billion and 4,252 stores. AP tops the industry, with volume exceeding that of its closest competitor by more than $1 billion. * 1959 AP celebrates its 100th anniversary. 1960-1999 Becoming a Supermarket Family * 1963 With its new Plaid Stamps redemption program, AP brings back the premium concept. With every purchase, shoppers receive plaid-colored stamps, which can be later redeemed for popular household items, such as snack trays and Lazy Susans. * 1971 AP opens its first Warehouse Economy Outlet (WEO). This low-price warehouse concept, featuring displays of fast-selling grocery items in the original cases, is rolled out to 1,500 stores. * 1979 The Hartford Foundation and family members sell the majority of AP shares to The Tengelmann Group of West Germany in the face of declining sales and profitability, as competitors follow consumers to the suburbs. * 1980 James Wood is elected Chairman, President CEO. Under his leadership, the company closes operations in several markets, including hundreds of older stores and the majority of its manufacturing operations. * 1981 Beginning a new growth via acquisition strategy, the Company purchases 17 Stop Shop supermarkets in New Jersey. * 1982 The Company launches the Superfresh banner in the Philadelphia area, emphasizing product freshness and strong customer service. * 1986 AP acquires the Bronx, N.Y.-based Shopwell Inc., which includes 26 upscale stores named The Food Emporium. It expands further in New York with  the acquisition of Waldbaums, Inc. that fall. * 1994 AP in the U.S. launches a new private label program, introducing four new brands across all of its banners: Americas Choice, Master Choice, Health Pride and Savings Plus. 2000-Present Innovating and Restructuring for the Future * 2000 The Food Emporium opens its unique Bridge Market store, located at 59th Street and First Avenue beneath New York Citys landmark Queensborough Bridge. * 2001 AP opens its first U.S. Food Basics store in Passaic, N.J. * 2003 To reduce debt and lower operating costs, AP exits Northern New England, sells Kohls stores in Wisconsin (which it acquired in 1983), closes all remaining Kohls operations, and sells the Eight OClock Coffee division. * 2005 The Great Atlantic Pacific Tea Company, Inc. sells AP Canada to METRO INC., a supermarket and pharmaceutical operator in the Provinces of Quebec and Ontario Canada. * 2009 The Great Atlantic Pacific Tea Company celebrates its 150th Anniversary as the oldest grocery retailer in the United States. * 2010 The Board elects Sam Martin as President CEO. Under his leadership, the Company embarks on a turnaround plan and files for Chapter 11 to enable it to restructure its operations and financial obligations. * 2011 AP launches Woodson James, a new line of premium-quality Angus beef featuring steakhouse-quality meat at affordable supermarket prices, exclusive to all AP, Pathmark, Superfresh, Waldbaums and The Food Emporium stores. * 2012 AP exits Chapter 11 as a private company with 320 stores. SWOT ANALYSIS The Great Atlantic Pacific Tea Company (AP or the company) is engaged in the retail food business. The company offers a strong portfolio of private label brands. Green Way, a new private label launched in 2009, features over 200 healthy, organic and eco-friendly products. In the current economic environment, consumers are tending to choose private label brands due to their quality and competitive pricing. Given the growing demand for private label products, the companys portfolio of private brands offers a competitive advantage. However, the sluggish US economy could depress purchasing power of consumers affecting the sales of the company. Strengths  Weaknesses Robust private label portfolio Declining market share Operational and financial issues led to bankruptcy filing Multiple store formats Coupons portfolio Opportunities Threats Economic downturn in US affects consumer spending Online retail channel offers opportunities for revenue growth Increasing demand for organic products Intense competition Rising labor wages in the US likely to increase the operating cost Remodeling of stores will lead to incremental sales Strengths Robust private label portfolio AP offers a strong portfolio of private label brands including Americas Choice, Hartford Reserve, Live Better Wellness, Americas Choice Gold, Smart Price and Via Roma. APs Americas Choice brand presently stands among the best selling private brands in the industry. In addition, in 2009, the company launched Green Way, a new private label line featuring over 200 healthy, organic and eco-friendly products. The company launched The Food Emporium Trading Company private label brand of international specialty items, in November 2010. In the face of macroeconomic pressures, consumers are increasingly opting for private label products. According to industry watchers, private label sales have increased in the US in the recent years. In the current economic environment, value-oriented consumers are choosing private label brands due to their competitive pricing. Also, strong push from retailers and improvements in both quality and selection has been influencing the shopping trends. This trend is expected to continue even after the economy recovers as consumers consider the quality of private label brands to be as high as name brand products. In addition to providing savings to consumers, private labels provide higher operating margins than national brands to AP thereby improving profitability. Increased  penetration of these private labels will improve the margins of the company. Additionally, they offer a competitive advantage and will enable the company to develop a niche customer base. Multiple store formats AP operates multiple store formats. The companys store formats vary from full-service supermarkets featuring fresh produce, seafood, meat, deli, groceries, floral, and pharmacies, to upscale gourmet stores (The Food Emporium), to limited variety stores featuring everyday low prices (Food Basics). Through its broad base of supermarkets, AP has expanded and diversified within the retail food business. The company operates stores with merchandise, pricing and identities tailored to appeal to different customer segments, including buyers seeking gourmet and ethnic foods, a wide variety of premium quality private label goods and health and beauty aids along with the range of traditional grocery products. The wide variety of products offered to meet the needs of a diverse customer base will drive footfall and also provide immense opportunities for cross selling. This in turn will contribute to higher revenues by increasing the average ticket. Coupons portfolio Consumers drastically cut back on spending during the recession as unemployment rose and lending slowed. They are looking at generating more value for the money spent. AP, keeping this in view, launched a comprehensive coupon portfolio of innovations in 2009, to provide shoppers with more savings and convenience. The company partnered with Zavers, a pioneer in digital couponing, to launch the first paperless, clipless and completely digital coupon service available by a supermarket chain in the Metropolitan New York area. This service allows club card members at AP, Pathmark, Waldbaums and SuperFresh to go online and save the coupons directly onto their club card. The savings are automatically deducted off the customers shopping order once the club card is scanned at the checkout. Subsequently, AP introduced the Rewards Online Mall, allowing club card members to earn rewards by making purchases at over 1,000 online retailers including eBay.com, Best Buy, Home Depot, Macys, Barnes and Noble, Travelocity, Staples, 1-800-FLOWERS and many more. For every purchase made, customers can receive an average of 3% back. Once the total reaches $10, customers will receive a Rewards Certificate in the mail to be used towards their next in-store purchase at any AP, Waldbaums, SuperFresh, The Food Emporium or Pathmark store. To complement its couponing  programs portfolio, AP also premiered an innovative new online coupon gallery available via its banner websites. This service which helps customers save more money while shopping for groceries, was made available through AP’s partnership with Coupons.com. Each of the company’s banner websites features a special coupon gallery with hundreds of dollars of savings on all departments. Besides offering savings this service is convenient and saves time. Such additional benefits offered by the company will help attract customer visits. Weaknesses Declining market share AP has been losing its market share to the bigger discount retailers and wholesale clubs including Wal-Mart, Costco, Target, and BJs. These companies have expanded into the grocery business and yielded to the economic downturn by lowering prices, thereby attracting the value-driven consumers. The big-ticket consumers, on the other hand, preferred higher-end retailers such as Whole Foods and Trader Joes. AP by sticking to its consistent pricing, lost its customers to these companies in the difficult retail climate, while the other grocery retail chains lowered prices considerably, endorsed value proposition, and attracted sales. The company recorded a decline in revenues of 8.3% and 7.4% in FY2011 and FY2010 respectively. The sales declined primarily due to a decrease in comparable stores sales and store closures, partially offset by sales from new stores. The overall decline in sales was primarily caused by a decrease in customer count. The loss of market share to competitors has aff ected the company financial results significantly. Operational and financial issues led to bankruptcy filing AP, in December 2010 filed a voluntary petition under Chapter 11 of the US Bankruptcy Code with the US Bankruptcy Court for the Southern District of New York to facilitate its financial and operational restructuring. The company experienced severe financial and operational issues which led to this move. At the end of the third quarter of FY2011, the company had cash reserves of $92.4 million compared with $281.8 million during the same period, the previous year.The company had long-term debt of $816.8 million at the end of the third quarter of FY2011. The current portion of long-term debt increased to $171.5 million at the end of the third quarter of FY2011 compared with $191,000 at the end of the third  quarter of FY2010. The company has also experienced several other issues that contributed to its bankruptcy filing, including large pension funding requirements and union agreements. Approximately 92% of the companys employees are represented by unions and covered by collective bargaining agreements. Furthermore, the company had about 70% of inventory tied to one supplier in an unfavorable contract. The company also had obligations, including the payment of rent on stores that were not subleased or leases terminated. The rent expenses for the mostly empty stores were estimated to be substantial next year. All the above factors put the company at a competitive disadvantage and rendered its business unsustainable in the current scenario. The bankruptcy filing and the subsequent financing will significantly affect the investors confidence in the company. Online retail channel offers opportunities for revenue growth The online retail market in the US is growing at a fast pace and the trend is expected to continue. Online sales contributed to 6% of the retail sales in 2009 and are estimated to contribute 8% of the total retail sales by 2014. Online sales grew by 11% in 2009 compared to a total retail growth of 2.5%. Online sales while offering convenience to customers, also improve a companys margins by cutting down operating costs. AP is well poised to benefit from the expected increase in online sales. Increasing demand for organic products Natural and organic food products segment is one of the fastest growing categories in food retailing. Increasing consumer awareness about health and environmental issues, along with an increasing resistance towards genetically modified (GM) food products and GM farming, has led to a rapid increase in the demand for organic food. According to industry estimates, the organic product sales in the US reached $26.6 billion in 2009, an increase of 5.3% over 2008. Of the total, organic food accounted for $24.8 billion and organic non-foods, the remaining $1.8 billion. In comparison, the total food sales in the US increased by 1.6% in FY2009.The growth trend of organic foods is expected to continue. The company offers over 200 healthy, organic and eco-friendly products under its Green Way brand. The company could leverage its presence to exploit the increasing demand for  organic products. Remodeling of stores will lead to incremental sales AP has been investing in re-modeling its stores to offer a unique shopping experience to its customers. These remodeled stores offer an expanded selection of deli, bakery, floral, meat, seafood and organics departments and many specialty sections. The Pompton Plains AP store, located in Pompton Plains, New Jersey, besides offering traditional food categories, also introduced new departments including the kids and toddler aisle featuring all the products needed by mothers in one area; an enhanced pet selection; expanded mens offerings featuring an extensive array of specialty products for men; and a special section dedicated to gluten-free packaged products. Apart from offering a wide selection of quality groceries, fresh produce, breads, seafood, and meats, APs new Port Jefferson Pathmark store features a full-service pharmacy department which provides numerous benefits to customers including, all major prescription drug plans including Medicare Part D accepted; health screening serv ices; complete diabetic supply center; patient counseling and information service; mail order and online prescription refill; and Live Better! Wellness club. The new Pathmark is designed with a bright, open layout with modern decor and colorful artwork and signage, further enhancing the overall experience for shoppers. AP’s Woodcliff Lake AP store offers expansive departments that feature a wide selection of fresh and gourmet foods. This is complemented by a full-service bakery, Starbucks Cafe, floral department and pharmacy, along with a center store department that presents a complete line of specialty items for men, children and pets. The company also re-opened the New Providence AP store with expansive departments offering a wide selection of fresh and gourmet foods, a full-service bakery and floral department and an expansive center store department with a complete line of specialty items for children and pets. The remodels with additional departments attract more consumers and offer cross selling opportunities, therefore contributing incrementally to the sales increase. These additional services will also help the company differentiate itself from its competitors. Threats Economic downturn in US affects consumer spending The US, the worlds largest economy, shrank 4.1% from the fourth quarter of 2007 to the second quarter of 2009. Household spending fell 1.2% in 2009, twice as much as previously projected and the biggest decline since 1942. The US economy slowed in the second quarter of 2010 as scarcity of jobs eroded consumer spending. GDP in the second quarter of 2010 grew at a 2.4% annual rate less than forecast. Consumer spending, which accounts for about 70% of the economy, rose at a 1.6% pace in the second quarter, compared with a 1.9% rate in the first quarter of 2010. Job gains have been slow to take hold, curbing household purchases. US retail sales rose a meager 0.1% in July 2010 from June 2010, according to industry watchers. In addition, the US economy grew 2.6% in the third quarter of 2010. The World Bank forecasts the US economy to grow at a sluggish rate of 2.8% in 2011. High unemployment rate which is estimated to reach 10%, sluggish wage gains and credit crunch are all expected to keep consumers relatively cautious. The unemployment rate remained significantly high at 9.4% towards the end of 2010. Rising unemployment further reduces the consumer spending as customers feel unsecured. Thus, slowdown in US economy would depress purchasing power of consumers which could result in a decline in sales of the company. Intense competition AP conducts its retail merchandise business under highly competitive conditions. Although AP is a large regional department store chain company, it has numerous competitors at the national and local level that competes with its individual stores, including specialty, off-price, discount, and internet and mail-order retailers. Competition is characterized by many factors including location, reputation, fashion, merchandise assortment, advertising, price, quality, service and credit availability. AP anticipates intense competition to continue with focus on pricing. Some of the companys competitors have substantially larger marketing budgets, which may provide them with a competitive advantage. If AP is unable to maintain its competitive position, it could experience downward pressure on prices, lower demand for products, reduced margins, the inability to take advantage of new business opportunities and the loss of  market share. Rising labor wages in the US likely to increase the operating cost In recent times, tight labor markets, increased overtime and government mandated increases in minimum wages resulted in an increase in labor costs, which could materially impact the companys results of operation. The Fair Labor Standards Act (FLSA) has increased the federal minimum wage rate in the US from $6.55 an hour in July 2008 to $7.25 an hour in July 2009. This was further increased to $8.25 an hour in July 2010, revising the labor rates for the fourth year in a row. Many states also have minimum wage laws. If an employee is subject to both state and federal minimum wage laws, the employee is entitled to the higher minimum wage. Increased labor costs could increase the operating costs for the company.

Groupware Essay -- science

Groupware A powerful requirement for businesses to effectively compete in today’s global market place is the ability for collaboration between business units, work teams and individuals. The value of collaboration is its potential to contribute toward increasing productivity, reducing costs, growing profit and improve service or product quality (Alavi, M., 1994). Technology that has been designed to support collaborative group work is referred to as groupware. This impacts on the way people communicate with each other, the way people work and even the structure of an organization. Groupware are technology based tools that facilitate groups of geographically dispersed people to share knowledge and information using computer based resources (Dennis et al., 1996). These tools allow humans to collaborate on projects where members may contribute directly or anonymously (Nunamaker et al., 1991). Groupware includes the ability to send and receive data, emails, share personal calendars, hold video conferencing and workflow management (Kilmer, 1999). Kilmer, (1999 ) states that popular products that fit into this category include Lotus Notes, email, intranet, internet, electronic conferencing and other collaborative tools. Groupware allows for new organizational design and practices. It provides new potential for how work groups or teams can enhance their coordination when performing activities and assigned tasks. Groupware technology addresses the need for collaboration, human to human interaction and builds on the latest advances in information technology. The rapid development of groupware technology means the term is not clearly defined (Lloyd, P. 1994), essentially the term refers to any computer based technology that helps a group work better collaboratively over digital media (Lloyd, P. 1994). According to Ellis et al., (1991) groupware falls into many categories from simple to complex systems. Ellis et al., (1991), distinguish two main categories when viewing groupware; time space and application level categories. Time space groupware are those tools conceived to enhance communication and collaboration within a real time interaction. The scenarios which encompass this include same time/same place, same time/different place, different time/same place and different time/different place (Ellis et al., 1991). Groupware which are classified as s... ...Across Space, Time, and Organization with Technology, John Wiley and Sons, New York, NY. - Lloyd, P., 1994, Groupware in the 21st Century, Praeger, Westport, CT. - Maier, N, 1967, "Assets and liabilities of group problem solving: the need for an integrative function", Psychological Review, 74, 4, 239-49. - Nunamaker, J., Dennis, A., Valacich, J., Vogel, D., 1991, "Electronic meeting systems to support group work", Communications of the ACM, 34, 7, 40-61. - Pava, C, 1983, Managing New Office Technology, Free Press,, New York, NY. - SAP GLOBAL, 2005, http://www.sap.com/solutions/netweaver/enterpriseportal/featuresfunctions /knowledgemanagement.epx - Shulman, A.D, 1996, "Putting group information technology in its place: communication and good work group performance", Clegg, S.R, Hardy, C., Nord, W.R., Handbook of Organization Studies, Sage Publication,, London, 357-74. - Taylor, J.C, 1998, "Participative design: linking BPR and SAP with the STS approach", Journal of Organizational Management, 11, 13, 233-45. - Yen, D.C, Wen H.J, Binshan, L. and Chou, D.C. 1999, â€Å"Groupware: a strategic analysis and implementation†, Industrial Management & Data Systems 99/2 64–70

Evaluate Thomas Jefferson Presidency

The election of 1800 was a tight race and a tie broken by the House of Representatives, led to the election of Thomas Jefferson as the third president of the United States. Thomas Jefferson was in office as president for two terms, serving from 1801-1809. As a whole, Thomas Jefferson had a very positive presidency even though there were a few setbacks throughout. There were many significant events that happened during these eight years and the most well known would be: the Louisiana Purchase, the undeclared Barbary War, and the trade acts imposed due to problems with France and Britain .All great things must come to an end and Jefferson was succeeded by John Adams. America is a superpower and Thomas Jefferson was a great impact to all that as been accomplished as a nation. The Louisiana Purchase of 1803, was the greatest accomplishment of Jefferson in his presidency. The French under Napoleon had a great deal of economic problems already and maintaining the land in the west was a lot to handle so they sold it to the United States. In addition, France was fighting Britain and they needed more money and they wanted to only sell New Orleans at first, but ended up selling the whole territory (Henretta).At the time they sold this territory for 15 million dollars which ended up being about two cents an acre(Holmes). This purchase was very positive because this territory doubled the United States territory and this was great for them in order with westward expansion and exploration of the west. This expansion led to Lewis and Clark to explore the new lands. They were sent to experience the plants, animals, geography, and to learn how this region could be exploited economically. Without Jefferson in power, this expedition that they set out on may not have been accomplished and the United States may have not been so advanced at this time.At the time of the purchase, buying it was deemed unconstitutional but Thomas Jefferson went through with it anyway. The purpose at th e time was to get French out of this region all together to protect our trade on the port of New Orleans. Also, it was to protect the free passage along the Mississippi River. Not only was this one of the greatest accomplishments of Thomas Jefferson's presidency, but may have been one of the greatest events in America's history. During Thomas Jefferson’s presidency another event that is very significant would be the undeclared Barbary Wars.During this time, a reason this is so remembered, Jefferson was spending a lot of the country’s money. The Barbary States were off of North Africa and leading up to this undeclared war, they were seizing the international ships and holding the crews hostage for ransom money. At the time, he wanted to avoid all out war which would increase taxes and national debt which at this point he was very right (Henretta). This was particularly dangerous for the country because at the time there was not a strong navy.Merchants were in danger eve ry time they went out on the water. As a nation, the United States defeated the Barbary States and that led to not paying the Barbary people money. These tensions may have been negative during the time, but as we look back on history, Jefferson did the right thing for the country and him defeating these pirates really reflects on his presidency being very positive for the United States. Lastly, major trade problems with Britain and France and relationships were very important to Jefferson’s presidency.With all of these problems many acts were passed in order to relive the tension. The United States wanted to be neutral during problems between Britain and France, but somehow always ended up right in the middle. One of the first acts that was imposed was the Nonintercourse Act(1806), and that halted importation of British products. This did little to no harm to the British so in 1809 trade with Britain was reopened. Another act that was imposed on America was the Embargo Act wh ich prohibited all trade and this really hurt New England the most.This hurt New Englanders so much that it caused many of them to side with Pinckney in the 1808 election. Even though some may have sided, John Adams won the election and succeeded Thomas Jefferson. This was a rough patch to his presidency, but despite the few foreign affairs he did a great job with dealing with France and Britain during these times. Thomas Jefferson was one of the very first presidents of the United States and his presidency is one of many that have made America the super power that it is.Each president that lasts the full two terms must have been liked by many to stay in the office for eight years so he definitely did something right. Jefferson purchased territory that nearly doubled America’s size, defeated the Barbary pirates in â€Å"undeclared war†, and although there were many foreign affairs during this time he handled them very well. He is one that is remembered and will continu e to be remembered through time for all of the positive things he accomplished. Thomas Jefferson had a very positive presidency and in eight years did a lot for Americans and has been apart of shaping the nation.

Criticism Of The World Bank And The Imf Essay - 808 Words

According to Brettonwoods Projects â€Å"Criticism of the World Bank and the IMF encompasses a whole range of issues but they generally centre around concern about the approaches adopted by the World Bank and the IMF in formulating their policies, and the way they are governed† (http://www.brettonwoodsproject.org/2005/08/art-320869/) One may ask, are there really problem arising from the World Bank and IMF rendering services and administering relief to a nation? In the year 2013, An incident occurred which aroused the public mind against the World Bank and it’s involvement in lending funds to activities that took place in Badia East, Lagos State, Nigeria. Huffingtonpost.com, reported â€Å"The Lagos state government flattened Badia East in February 2013 to clear land in an urban renewal zone financed by the World Bank, the global lender committed to fighting poverty† (http://projects.huffingtonpost.com/worldbank-evicted-abandoned) It was a cold afternoon for the residents of Badia East, when the unexpected happened. They heard noises of officials calling and warming them to park their luggage and vacate their homes without prior information concerning the demolition and plans of the Government. Huffingtonpost.com reported, â€Å"The neighborhood’s poor residents were cast out without warning or compensation and left to fend for themselves in a crowded, dangerous city. Evictions like the one in Badia East aren’t supposed to happen in the middle of projects backed by the World Bank†Show MoreRelatedThe Imf And The World Bank Essay1297 Words   |  6 PagesGlobalization Learning Journal 2 Throughout this section of the class, the IMF and the World Bank have been studied extensively. All students have come away with different ideas about these two organizations. In the following paragraphs, I will attempt to explain my own thoughts on the IMF and the World Bank. Mainly, that their practices are insufficient for accountability and do threaten the sovereignty of certain nations. I will also attempt to explain why I think this is the case. The firstRead MoreThe World Banks Role and Contribution across the Globe728 Words   |  3 PagesThe World Bank consists of two related institutions, the International Bank for Reconstruction and Development and the International Development Association. These bodies provide financing to poor countries with the objective of eliminating poverty in the world. The Bank provides financial products and services where they are needed most, and also contributes to knowledge sharing around the world. World Bank development projects for example include the development of water projects. By helping toRead MoreA Brief Note On The World Bank Cambodia Sub Project888 Words   |  4 Pagesefore zeroing in on the World Bank Cambodia Sub-project, a quick review of the World Bank Group (WBG), vis-a-vis its structure, mission’s statement, and criticisms would critical in analysing the project. At the dusk of the Second World War (WWII), there were concerns to the stability of the global economic markets. The stability of international currency markets, and international trades were deemed critical to averting crises such as the great depression of 1930, which eventually lead to the warRead MoreThe World Bank Cambodia Sub Project899 Words   |  4 PagesBefore zeroing in on the World Bank Cambodia Sub-project, a quick review of the World Bank Group (WBG), vis-a-vis its structure, mission’s statement, and criticisms would critical in analysing the project. At the dusk of the Second World War (WWII), there were concerns to the stability of the global economic markets. The stability of international currency markets, and international trades were deemed critical to averting crises such as the great depression of 1930, which eventually lead to the warRead MoreInternational Financial Institutions ( Ifis ) Are Central Pillars And The Architects Of The Global Economy1665 Words   |  7 Pagesinstitutions (IFIs) are central pillars and the architects of the global economy. The world bank and IMF were founded and funded by the United states after the second world war to build shattered world economy after the war and great depression of the 1930s (socialist alternative,). The creation of the IFIs was to bring about a global economy after the â€Å"isolation economy† which some argue brought about the Second World War. The IFIs were to help the economy of the less developing countries (LDCs) toRead MoreThe Imf And The Crisis910 Words   |  4 PagesThe IMF and the Crisis in Greece The IMF is one of a number of international organizations whose work is aimed at preventing economic crisis and rebuilding economies. According to the Levin Institute, both the IMF and the World Bank were started after WW2 in response to concerns about the stability of economic markets around the world. While the World Bank now has a focus projects and sustainable development, the IMF is primarily focused on fiscal policy with lending practices that are focused onRead MoreImf As An International Financial Institution Essay1130 Words   |  5 Pages1997-1998 Indonesian Economic Crises. IMF Interventions - Lessons to learn. Introduction. 1997 to1998 saw the East Asian nations of Thailand, Indonesia and South Korea engulfed in an economic and financial crises that nearly collapsed their economies. The IMF was at the center stage to help during these crises. How IMF’s assistance further deepened Indonesia’s economic crises, received heavy criticism from Political, economic and social analyst against IMF s programs and Policies in DevelopingRead MoreHostility Against the World Trade Organization, International Monetary Fund, and World Bank804 Words   |  3 Pagesï » ¿Hostility against the World Trade Organization (WTO), International Monetary Fund (IMF), and World Bank Far from being seen as objective entities, the World Trade Organization (WTO), International Monetary Fund (IMF), and World Bank are often conceptualized as instruments of the developed world. It is alleged that they are used to enforce crippling economic policies upon the developing world. To some extent, it is perhaps inevitable that these international institutions are seen as such. The memoryRead MoreThe Decline Of The United States964 Words   |  4 PagesThe first decline of the U.S. economy occurred (Dezhao, 2006) back in the 1930s during the capitalist world s great economic depression. The second fall took place in the 1970s and 80s, the time which the international competitiveness of U.S. commodities and capital decreased significantly. The third decline occurred late 2000 , the recent financial crisis 2008/9. The reasons and results of the three falls are very different. Following the first two declines, the United States madeRead MoreThe Negative Impacts Of International Financial Institutions In Africa, Africa991 Words   |  4 PagesMines in Zambia, Africa (THE WHY, 2013). Africa is rich in abundance of natural resources. The governments of some regions in the country received aids from International financial institutions (IFI) – and the International Monetary Fund (IMF) and the World Bank (WB) – to increase productivity and industrial capacities to boost their economic growth faster. However, there has been a huge negative impact on the conditions of local economy and agricultural productions, natural resources, employment