Islamic Finance Issues With Securitization

Islamic Finance Issues With Securitization Chapter 1 INTRODUCTION Allah has created people to know Him and worship Him, in observance of His due lordship and divinity. That is why Islam made devotion to Allah the primary requirement of a Muslim after the two witnesses [of No God but Allah, and Mohammad is His Prophet]. Transactions are part of the religious issues that a Muslim performs for the sake of Allah Most High. Every Muslim was keen on having the best conduct in transacting within their effort to get closer to Allah Most High, and to fulfill the best life structure for mankind (Does He who created not know, while He is the Subtle, the Acquainted?)[1]. One of the distinctive characteristics of the nature of transactions, and economy in general and Islamic economy in particular, was its ability to expand, renovate and develop. It has unique flexibility that can accommodate new issues and questions revolving about the needs of people, or the requirements of their transactions. Financial transactions are one of the most important aspects of daily life. They are increasingly active and developing. The forms of doing such transactions are renewed and developed in accordance with modern life activity. One of the latest and most prominent developments was the appearance of securitization process among the financial organizations worldwide. Lots of discussion is held at present about securitization, which means the conversion of illiquid assets to financial papers. In reality, securitization is a modern financial instrument that had initially started in the US, in particular. Many American banks worked hard to securitize their debts. Even though securitization originated in the Western World, Islam does not prohibit us from benefiting from non-Muslim inventions, so long as these inventions do not contradict with the basics of Islamic law and its roots. Interestingly, Islam was ahead of the West in using the securitization as a document to prove some right. Al-Nawawi discussed this issue, and declared As-Sukak Ø §Ãƒâ„¢Ã¢â‚¬Å¾ÃƒËœÃ‚ µÃƒâ„¢Ã†â€™ÃƒËœÃ‚ §Ãƒâ„¢Ã†â€™ is a plural of Sak Ø µÃƒâ„¢Ã†â€™ ; it is a written document in proof of a debt. The plural can also be Sukuk Ø µÃƒâ„¢Ã†â€™Ãƒâ„¢Ã‹â€ Ãƒâ„¢Ã†â€™ . It refers to the document issued by a guardian ordering provisions, of food or others, to entitled holde rs. The holder may sell this document to others before getting the prescribed provisions (Al-Nawawi, Abu-Zakariyya Yahya M. 1971) [43]. In securitization, special purpose company is one of the important components of such process. This type of company appears with the securitization process, and plays a critical role in that process. Accordingly, in this dissertation the researcher endeavors to know the legal position of such a company and to identify the legal Islamic ruling related to such a company based on its nature, function and relationship with other components of the securitization process. THE IMPORTANCE OF THE STUDY This topic has its own scientific and practical importance from a scientific perspective. The special purpose company (SPC) is still a hot topic under discussion. The major issue relates to its legal position in the Islamic law. There are still controversy around its nature and function. Securitization is one of the troubling issues around the world. From a practical perspective, the researcher posits that the concept of securitization in general and special purpose company in particular has entered all aspects of economic and societal life, while related transactions have spread in many countries, and hence become part-and-parcel of some banking financial instruments . Accordingly, knowledge of the concept of this type of company and its function becomes a communal obligation on every Muslim. Muslims should be well informed about such type of companies. If they are legally permissible, then he can deal with them with confidence; otherwise, a Muslim should turn away from such a company so long as he has the option. In case Muslims find that they are legally prohibited and find themselves forced to deal with them, the least they can do is express their discontent of such sort of companies or hold an ideology of rejecting them. This process of inquiry into business-related legal matters is a must in a Muslim’s life. This commitment cannot happen without the knowledge of the Islamic position of everything a Muslim deals with in his/her life, even where he/she does not have the option. THE RESEARCH QUESTIONS The research question lies down in presenting the concept of the special purpose company, and shows its impact on the issuance of Islamic financial products and more specifically Sukuk. The researcher will try in this dissertation to answer the following questions: First: What is the special purpose company, and what are the reasons behind its appearance? Second: What are the characteristics of the special purpose company, and what are its types? Third: What is securitization, its pillars and importance? Fourth: What is the importance of the special purpose company in the securitization process? Fifth: What function does the special purpose company play in the securitization process and the structuring of Islamic Financial products? Sixth: What is the legal jurisprudence and Shari’ah objective position on the special purpose company? THE GOALS OF THE STUDY In accordance with the above, I have selected this topic in order to achieve certain goals, the most important of which are: To show the concept of the special purpose company and the reasons behind its emergence. To expose the characteristics of the special purpose company and its types. To exert best effort to research the concept of the securitization process, and show its importance and major financing components. To show the importance of the special purpose company in the securitization process. To present the jurisprudential position and Shari’ah objectives of the special purpose company (SPC) in modern Islamic finance products structuring. PREVIOUS STUDIES As the topic is still rather new, I could not put my hands on some in-depth scientific research on the subject, except some on securitization and SPV in general. The most important of these studies were: Al-Tawreeq wa Mada Ahmmiyatahu fi Dhil Qanoon Al-Rahn Al-Aqari [Translated as: Securitization and its importance in relation to the real estate mortgage] (Al-Hijazi, Obaid Ali Ahmad 2001) [44]. The author defined securitization, its components, development and importance. The author has briefly revealed the role of special purpose companies in the securitization process. The dissertation was limited to some restricted real estate application and lacks the Shari’ah viewpoint. Dawr Al-Sukuk Al-Islamiyah Fi Tamweel Al-Mashroo’at Al-Tanmawiyah [Translated as: The role of Islamic Sukuk in financing development projects] ( Mohammed Saleh and Fath- Al-Rahman Ali, 2008),. This research, presented at the Islamic Banking Symposium, covered the concept of Islamic securitization and its role in mobilizing financial resources in order to finance development projects. It also covered the risks inherited in these sukuk and how to manage them. The author has briefly touched on the relationship arrangement among the parties to these Sukuk. The dissertation was more specific to the Sukuk from Shari’ah viewpoint and did not discuss the SPV role in these structures. Al-Tawriq wa Baqiyat Adawat Al-Suyoolah li-sook Al-Islamiyah [Securitization and the rest of liquidity instruments for Islamic market] (Mala’ekah, Saleh 2005). This study has touched on the concept of securitization and its Islamic ruling. It has further touched on the role of Al-Tawfeeq and Al-Ameen companies in the field of mutual funds securitization. At the end of the study, the researcher elaborated on some of the securitization problems. The study lacks in-depth analysis to the modern practice in today’s contemporary Islamic banking products. Al-Sukuk Al-Isalamiyah wa Tatbeeqatiha Al-Moa’sirah wa Tadawuliha [Islamic Securitization, and its modern applications and trading] (Muheisen, Fouad Mohammed Ahmad 2009). The researcher expounded therein on the securitization concept, its goals, motives, and the jurisprudential rules for contemporary securitization process together with its Islamic legal controls. Also, the researcher showed the parties to securitization process, and made a comparison between the traditional securitizations and Islamic ones but lacks the analysis of the SPV role in the Sukuk Structures. Al-Taskik wa Dawruhu fi Sooq Maliyah Islamiyah [Securitization and its role in the development of an Islamic Financial Market] (Bani Amer, Zaherah Ali Mohammed 2008). In this study, the researcher elaborated on the concept of international markets and traditional securitization and its components. The researcher also presented Islamic securitization in a good way in this study. 1.5.1 What makes this study different? In general, previous studies were concerned with historical precedence, details and comments on the securitization process in order to understand its nature, and made a comparison between traditional and Islamic securitization. No study has dealt with the concept of the special purpose company, whether from a conceptual and advantageous perspective or from jurisprudential perspective in relation to other parties to the securitization process in contemporary Islamic Finance. This dissertation is different from previous studies on the following grounds: In terms of completeness, this dissertation is more comprehensive and has covered the shortfalls in some of the previous studies, by handling the concept of the special purpose company, its characteristics and nature. In terms of categorization, this dissertation presented different layout of the research components so as to accommodate the Islamic legal position together with the jurisprudential referencing for the special purpose company, in terms of its relationship with other parties to the securitization process, which is common among countries where this structure is being practiced at present. That would make this dissertation very distinctive from other previous studies. 1.6 Methodology This dissertation assumed an inductive research method in data collection. Further, the dissertation assumed the analytical method for investigation, presentation and formulation, all the way through the conclusion about the concept of the special purpose company and its impact on securitization. 1.7 The Research Plan This dissertation covered an introduction, five chapters and the conclusion chapter six. CHAPTER ONE: Introduction: It covered the importance of this dissertation, its objectives, methodology, previous studies and the research plan. CHAPTER TWO: The Company Literature: The Company in Islamic Jurisprudence and Man-made Law. It falls into two parts: Part One: The Concept of Company in Islamic Jurisprudence Section One: The Definition of Company Section Two: Legality of a Company Section Three: Categories of Companies: Communal Companies, Property Companies, and Contractual Companies Part Two: The Concept of Company in the Man-made Law Section One: The Company by Its General Concept Section Two: The Company by Its Objective Section Three: The Company by Its Business and Activities Section Four: The Company by Its Relationship to Other Companies CHAPTER THREE: SPECIAL PURPOSE COMPANY (SPC) ROLE IN FINANCE: What is the Special Purpose Company and Its role in finance? It falls into two parts: Part One: Definition of the Special Purpose Company, Its Development and Reasons behind Its Appearance Section One: Definition of Special Purpose Company Section Two: Development of Special Purpose Company Section Three: Reasons behind the Appearance of Special Purpose Company, and the Need for It Part Two: Characteristics of Special Purpose Company, and Its Types Section One: Types of Special Purpose Company Section Two: Nature of Special Purpose Company and Its Characteristics Section Three: The Accounting Process for the Special Purpose Company CHAPTER FOUR: LEGAL AND SHARI’AH FRAMEWORK FOR SPECIAL PURPOSE COMPANY IN ISLAMIC FINANCE: It explains the Securitization Process and the Importance of Special Purpose Company for Securitization in contemporary Islamic Finance. It covers six parts: Part One: The Concept of Securitization Part Two: The Pillars of Securitization, Its Importance and Components Part Three: Types of Securitization and Comparison between the Traditional Model and Islamic Model in Security Issuance Part Four: Reasons and Prospects of Securitization Part Five: Legal Dimension (Techniques) and Accounting Dimension of Securitization Part Six:Importance of Special Purpose Company in Securitization CHAPTER FIVE: SPECIAL PURPOSE COMPANY (SPC) IN SUKUK STRUCTURING: The Relationship between the Special Purpose Company and Sukuk Structuring and other pertinent rulings. It falls into two parts: Part One: The Function of Special Purpose Company in Traditional Securitization, and the Process of Islamic Securitization Section One: The Function of a Special Purpose Company When Established in the Form of a Company Section Two: The Function of a Special Purpose Company When Established in the Form of Mutual Fund Section Three: The Function of a Special Purpose Company When Established in the Form of financing Contract Based on Trust Part Two: Jurisprudential Documentation of Special Purpose Company Section One: Relationships Documentation between Parties to Securitization Section Two: Legal Controls for the Special Purpose Company in Securitization Section Three: Proposed Model of Special Purpose Company in Securitization Process CHAPTER SIX: CONCLUSIONS, RECOMMNEDATIONS, AND FUTURE OUTLOOK: This chapter covers the most important conclusions and recommendations. I would like to point out that any human effort is characterized by flaws and imperfections. Perfection belongs only to the Divine. Anything that is true in my writing must have come from the Gracious Lord alone; whatever flaws committed must have come from myself and the devil I ask God Most High to accept this effort as sincere for His own sake. I ask God as well to make out any shortage and fix any flaw. He is the best sponsor and best supporter. May Allah take us by our good faith and intention! He is the source of success, and all praise is due to Him. [1] Quran. Surat Al-Mulk (67:14)

Alvin Ailey

Gerald L. Archard November 22, 2010 2nd block dance 2 Dance Pioneers, Companies, and Choreographers Alvin Ailey Alvin Ailey, Jr. was an African American modern dancer, dance teacher and choreographer, who founded the Alvin Ailey American Dance Theater. Ailey was a gifted creator of dance expressing the African American cultural experience and history. His choreographic works live on in performances by the company he founded. The Alvin Ailey American Dance Theater toured extensively and regularly in Europe and Asia during Ailey's lifetime, making Ailey a familiar name worldwide.His works continue to inspire, uplift, educate, and communicate brilliance to all who witness them. One of his best known works, the choreographic masterpiece, Revelations, based on Ailey's experience growing up as an African American in the South, consistently brings audiences to their feet in enthusiastic, spontaneous ovation. Ailey was born to his 17-year-old mother, Lula Cooper, in Rogers, Texas. His father abandoned the family when Alvin was only a few months old. Ailey's mother was determined to make a better life for herself and child. She moved numerous times in Ailey's early years.One of the constants in Alvin's childhood was attendance at the True Vine Baptist Church. His mother sang in the choir. Ailey's immersion in the experience of charismatic and enthusiastic worship filled with gospel music and traditional spiritual songs had a lasting affect. Later in life, he choreographed dances to some of the music he first heard as a churchgoing youngster. In 1943, he and his mother moved to Los Angeles, California. Alvin was fourteen years old then. His mother worked often. The teen used his freedom after school to explore the city.Ailey was drawn to the music from the big band jazz clubs while the musicians practiced for their evening shows. He was also drawn to the theater marquees announcing upcoming shows like Billie Holliday, Duke Ellington, and others. One day he spotted a hand bill with a photo of Katherine Dunham, a dancer costumed in layers and layers of ruffles. At the time, Dunham's dance troupe was the only group of dancers touring and performing dances from Africa, Haiti, and Latin America. Ailey's curiosity was so intense that he found himself peeking in the stage door to catch sight of the performance of Dunham's Tropical Revue.This was the beginning of Ailey's lifelong passion for dance. Alvin began hanging around the stage door of the theater during the run of Dunham's show. He was there so often that one of the dancers invited him backstage and into the auditorium to watch. This introduction led him to study dance. Initially, Alvin took dance classes in the style and method of choreographer and dancer Katherine Dunham, from a student of hers. However, he was not really comfortable with this style that involved abandoning oneself to sensuous full body movement.Later, he was introduced to dance teacher Lester Horton. Horton had a dance school in nearby in Hollywood and his style was more straightforward. After seeing the school performance of fellow Jefferson High School student and Horton protege, Carmen de Lavallade, Alvin signed on with Horton. Lavallade was to be a lifelong friend and colleague of Ailey's. While studying with Horton, Ailey pursued college courses in the Romance languages. At various times Ailey was enrolled at the University of California, Los Angeles, Los Angeles City College, and the University of California, Berkeley.He studied the writings of James Baldwin, Langston Hughes, and Carson McCullers. His scholarly pursuits led him away from Lester Horton's school. In late summer of 1951, Ailey left for San Francisco to work and go to school. He soon befriended a young singer and dancer by the name of Margareurite Angelos (Maya Angelou). The two worked up a nightclub act called â€Å"Al and Rita. † They performed occasionally, and Ailey earned a living waiting tables and dancing at the New Orleans Champagne Supper Club. It was here that he first began choreographing acts of his own.This experience also marked the end of his college pursuits. Ailey started his own dance company in 1958, featuring primarily African American dancers. The company was invited back to Ted Shawn's summer dance festival in Massachusetts, in the summer of 1959. Following the stint, Susan Pimsleur, a concert manager offered to add the Ailey dancers to her roster. She laid out a plan for tours and concerts and designed a brochure, calling the company the Alvin Ailey American Dance Theater. A third concert at the 92nd Street YMCA was planned for January 31, 1960.It was during this performance that Ailey first staged his signature work, Revelations. The piece came from a very deep place within Ailey's psyche. The performance was an intense expression of heavenly faith, earthly despair, and unquenchable humanity. From its very first performance that January day, the audience jumped to their feet with a res ounding ovation. The producer of the dance program at the YMCA finally went on to the stage to silence the audience and announce that due to the overwhelming response of the audience, a second performance would be scheduled, an unprecedented fro that venue.In 1961, the United States Department of State approached Ailey, and invited him to travel in Southeast Asiaa for a thirteen week tour produced by the President's Special International Program for Cultural Presentations. Ailey accepted the invitation. He gathered dancers including some from his Horton days, including de Lavallade, Truitte and others. This was the first of many successful tours by the company. In a three years, Ailey had created a company and a body of work that communicated powerfully and conveyed to the world the beauty and universality of art and its rightful place in American culture.Alvin wrote in program notes for one of the tours, â€Å"The cultural heritage of the American Negro is one of America's richest treasures. â€Å"Ailey integrated his dance company in 1963. He also did some acting and directing. One notable production he directed was Langston Hughes’s Jericho-Jim Crow (1964). In summer of 1965, Ailey spotted Judith Jamison, a strikingly tall dancer with a strong foundation in ballet, at an audition he was attending. Ailey saw something special in her and tracked her down to invite her to join the company. She accepted, and today it is Jamison who runs the AAADT.Presented around the world by the Ailey's dance theater, the choreographic masterpiece Revelations, which is based on Ailey's experience growing up as an African American in the South, is among the best known and most frequently seen of modern dance performances. This piece ‘speaks' to audiences of all stripes in such a profound and inspiring way that audiences often leap to their feet in ovation at the close of the performance. It is a timeless portrayal of the experience of the American south of the fi rst half of the twentieth century.Ailey has been memorialized by the renaming of West 61st Street between Amsterdam and Columbus Avenues in New York City as â€Å"Alvin Ailey Way;† the Alvin Ailey American Dance Theater was located on that block at 211 West 61st Street from 1989 until 2005, when it moved to a new, bigger facility at the corner of West 55th Street and Ninth Avenue. In 1987, Ailey received the Samuel H. Scripps American Dance Festival Award. The citation on the award read, â€Å"To Alvin Ailey, dancer teacher and choreographer, whose work is generated from the heart and powered by passion; he stands as a model of artistic integrity.An American, informed by the Black experience, Mr. Ailey's choreography presses through cultural lines and speaks a universal language. His dances, whether sassy, sad, witty or lyrical, have brought joy and a sense of purpose to people throughout the world. Alvin Ailey's consistent artistic achievements have insured him a place as a giant in the history of American modern dance. † His longtime friend, Harry Belafonte presented the award. Ailey was awarded the Kennedy Center Honors in 1988. Alvin Ailey Gerald L. Archard November 22, 2010 2nd block dance 2 Dance Pioneers, Companies, and Choreographers Alvin Ailey Alvin Ailey, Jr. was an African American modern dancer, dance teacher and choreographer, who founded the Alvin Ailey American Dance Theater. Ailey was a gifted creator of dance expressing the African American cultural experience and history. His choreographic works live on in performances by the company he founded. The Alvin Ailey American Dance Theater toured extensively and regularly in Europe and Asia during Ailey's lifetime, making Ailey a familiar name worldwide.His works continue to inspire, uplift, educate, and communicate brilliance to all who witness them. One of his best known works, the choreographic masterpiece, Revelations, based on Ailey's experience growing up as an African American in the South, consistently brings audiences to their feet in enthusiastic, spontaneous ovation. Ailey was born to his 17-year-old mother, Lula Cooper, in Rogers, Texas. His father abandoned the family when Alvin was only a few months old. Ailey's mother was determined to make a better life for herself and child. She moved numerous times in Ailey's early years.One of the constants in Alvin's childhood was attendance at the True Vine Baptist Church. His mother sang in the choir. Ailey's immersion in the experience of charismatic and enthusiastic worship filled with gospel music and traditional spiritual songs had a lasting affect. Later in life, he choreographed dances to some of the music he first heard as a churchgoing youngster. In 1943, he and his mother moved to Los Angeles, California. Alvin was fourteen years old then. His mother worked often. The teen used his freedom after school to explore the city.Ailey was drawn to the music from the big band jazz clubs while the musicians practiced for their evening shows. He was also drawn to the theater marquees announcing upcoming shows like Billie Holliday, Duke Ellington, and others. One day he spotted a hand bill with a photo of Katherine Dunham, a dancer costumed in layers and layers of ruffles. At the time, Dunham's dance troupe was the only group of dancers touring and performing dances from Africa, Haiti, and Latin America. Ailey's curiosity was so intense that he found himself peeking in the stage door to catch sight of the performance of Dunham's Tropical Revue.This was the beginning of Ailey's lifelong passion for dance. Alvin began hanging around the stage door of the theater during the run of Dunham's show. He was there so often that one of the dancers invited him backstage and into the auditorium to watch. This introduction led him to study dance. Initially, Alvin took dance classes in the style and method of choreographer and dancer Katherine Dunham, from a student of hers. However, he was not really comfortable with this style that involved abandoning oneself to sensuous full body movement.Later, he was introduced to dance teacher Lester Horton. Horton had a dance school in nearby in Hollywood and his style was more straightforward. After seeing the school performance of fellow Jefferson High School student and Horton protege, Carmen de Lavallade, Alvin signed on with Horton. Lavallade was to be a lifelong friend and colleague of Ailey's. While studying with Horton, Ailey pursued college courses in the Romance languages. At various times Ailey was enrolled at the University of California, Los Angeles, Los Angeles City College, and the University of California, Berkeley.He studied the writings of James Baldwin, Langston Hughes, and Carson McCullers. His scholarly pursuits led him away from Lester Horton's school. In late summer of 1951, Ailey left for San Francisco to work and go to school. He soon befriended a young singer and dancer by the name of Margareurite Angelos (Maya Angelou). The two worked up a nightclub act called â€Å"Al and Rita. † They performed occasionally, and Ailey earned a living waiting tables and dancing at the New Orleans Champagne Supper Club. It was here that he first began choreographing acts of his own.This experience also marked the end of his college pursuits. Ailey started his own dance company in 1958, featuring primarily African American dancers. The company was invited back to Ted Shawn's summer dance festival in Massachusetts, in the summer of 1959. Following the stint, Susan Pimsleur, a concert manager offered to add the Ailey dancers to her roster. She laid out a plan for tours and concerts and designed a brochure, calling the company the Alvin Ailey American Dance Theater. A third concert at the 92nd Street YMCA was planned for January 31, 1960.It was during this performance that Ailey first staged his signature work, Revelations. The piece came from a very deep place within Ailey's psyche. The performance was an intense expression of heavenly faith, earthly despair, and unquenchable humanity. From its very first performance that January day, the audience jumped to their feet with a res ounding ovation. The producer of the dance program at the YMCA finally went on to the stage to silence the audience and announce that due to the overwhelming response of the audience, a second performance would be scheduled, an unprecedented fro that venue.In 1961, the United States Department of State approached Ailey, and invited him to travel in Southeast Asiaa for a thirteen week tour produced by the President's Special International Program for Cultural Presentations. Ailey accepted the invitation. He gathered dancers including some from his Horton days, including de Lavallade, Truitte and others. This was the first of many successful tours by the company. In a three years, Ailey had created a company and a body of work that communicated powerfully and conveyed to the world the beauty and universality of art and its rightful place in American culture.Alvin wrote in program notes for one of the tours, â€Å"The cultural heritage of the American Negro is one of America's richest treasures. â€Å"Ailey integrated his dance company in 1963. He also did some acting and directing. One notable production he directed was Langston Hughes’s Jericho-Jim Crow (1964). In summer of 1965, Ailey spotted Judith Jamison, a strikingly tall dancer with a strong foundation in ballet, at an audition he was attending. Ailey saw something special in her and tracked her down to invite her to join the company. She accepted, and today it is Jamison who runs the AAADT.Presented around the world by the Ailey's dance theater, the choreographic masterpiece Revelations, which is based on Ailey's experience growing up as an African American in the South, is among the best known and most frequently seen of modern dance performances. This piece ‘speaks' to audiences of all stripes in such a profound and inspiring way that audiences often leap to their feet in ovation at the close of the performance. It is a timeless portrayal of the experience of the American south of the fi rst half of the twentieth century.Ailey has been memorialized by the renaming of West 61st Street between Amsterdam and Columbus Avenues in New York City as â€Å"Alvin Ailey Way;† the Alvin Ailey American Dance Theater was located on that block at 211 West 61st Street from 1989 until 2005, when it moved to a new, bigger facility at the corner of West 55th Street and Ninth Avenue. In 1987, Ailey received the Samuel H. Scripps American Dance Festival Award. The citation on the award read, â€Å"To Alvin Ailey, dancer teacher and choreographer, whose work is generated from the heart and powered by passion; he stands as a model of artistic integrity.An American, informed by the Black experience, Mr. Ailey's choreography presses through cultural lines and speaks a universal language. His dances, whether sassy, sad, witty or lyrical, have brought joy and a sense of purpose to people throughout the world. Alvin Ailey's consistent artistic achievements have insured him a place as a giant in the history of American modern dance. † His longtime friend, Harry Belafonte presented the award. Ailey was awarded the Kennedy Center Honors in 1988.

Burnout of the courier in logistics company in China

ENG Abstract Burnout is a prolonged response to chronic emotional and interpersonal streamers on the Job, and is defined by the three dimensions of exhaustion, cynicism, and inefficacy. The past 25 years of research has established the complexity of the construct, and places the individual stress experience within a larger organizational context of people's relation to their work.Recently, the work on burnout has expanded internationally and has led to new conceptual models. The development of the logistics company to create many Jobs, special courier. However, facing to overload workload, the courier is prone to burnout. The aim of this research is to find what factors lead to courier appears occupation burnout and what are the solutions. In this paper, using the method of questionnaires solve the problem about burnout of the courier in logistics company in China. We hope can find factors to make contribute to further research in the future.Key words: burnout, courier, logistics com pany, China l. Introduction 1. 1 Research Background of Burnout and logistics company The relationship that people have with their work, and the difficulties that can arise when that relationship goes awry, have been long recognized as a significant phenomenon of the modern age. The use of the term burnout for this phenomenon began to appear with some regularity in the sass in the United States, especially among people working in the human services.This popular usage was presaged by Green's 1961 novel, A Burnout Case, in which a spiritually tormented and disillusioned architect quits his Job and withdraws into the African Jungle. Even earlier writing, both fictional and nonfunctional, described similar phenomena, including extreme fatigue and the loss of idealism and passion for one's Job. What is noteworthy is that the importance of burnout as a social problem was identified by both practitioners and social commentators long before it became a focus of systematic study by researche rs.Logistics is to satisfy customer needs, with the lowest cost, through the transport, storage, distribution and so on, to achieve raw materials, semi-finished products, finished products and related information from the origin of goods to the goods consumption to the planning, implementation and management of the whole process. Logistics is a system of control of raw materials, manufactured goods, finished goods and information,from the supply, the transfer of a variety of intermediate links and have to reach the physical movement of the final consumers, in order to achieve the organization's goals.Modern logistics is the product of economic globalization, economic globalization is an important service. The world of modern logistics industry grows steadily, Europe, Japan, America become important base logistics worldwide. 1. 2 The existing problems and the purpose of this paper In China, logistics industry started relatively late, with the rapid development of he national economy, the logistics industry market demand continued to expand.Since twenty-first Century, the state to strengthen and improve macroeconomic regulation and control policy, China logistics industry to maintain rapid growth, constantly improve the logistics system, industry increasingly mature and norms. The development of the logistics company to create many Jobs, special courier. However, the courier is prone to burnout, with facing to overload workload, such as sending 50 parcels on average everyday, Guessing logistics and waiting for customers. Especially n the discount season, for the logistics company is a war, the courier will face a severe test.Many express company clerks said, working overload to make them terribly fatigued, lead to service attitude decline or reject business is failing express industry. The aim of this research is to find what factors lead to courier appears occupation burnout and what are the solutions. 1. 3 Research Question (1) Is there any burnout in the cour ier in logistics company in China? If so, how often? (2) What are the major factors which contribute to their burnout? II . Literature Review 2. 1 Concept of BurnoutBurnout was initially a very slippery concept – there was no standard definition of it, although there was a wide variety of opinions about what it was and what could be done about it. Different people used the term to mean very different things, so there was not always a basis for constructive communication about the problem and solutions for it. However, there was actually an underlying consensus about three core dimensions of the burnout experience, and subsequent research on this issue led to the development of a multidimensional theory of burnout (Miasmal 1982, 1998).This theoretical framework continues to be the predominant one in the runt field. Today, the most commonly accepted definition of burnout is the three- component conceptualization used by Miasmal and colleagues (Miasmal, 1982; Miasmal & Jackson, 1981; Pines & Miasmal, 1980). One component of burnout, emotional exhaustion, is characterized by a lack of energy and a feeling that one's emotional resources are used up. Another component, diversification or demutualization, is marked by the treatment of clients as objects rather than people.The final component of burnout, diminished personal accomplishment, is characterized by a tendency to evaluate oneself negatively. 2. 2 Assessment of Burnout In the sass the work on burnout shifted to more systematic empirical research. A particular focus of this research was the assessment of burnout, and several different measures were developed. The scale that has had the strongest psychometric properties and continues to be used most widely by researchers is the Miasmal Burnout Inventory (MBA) developed by Miasmal and Jackson (1981).Subsequent research using the MBA has revealed that the intensity and frequency dimensions of burnout are highly correlated (Anderson & Knick, 1984; Brooking, Bolton, Brown, & McElroy, 1985; Gaines & Jerkier, 1983), so the revised version of the MBA (Miasmal & Jackson, 1986) includes only the frequency dimension. The MBA- Human Services Survey (MBA-HAS) was designed for use with people working in the human services and health care. A second version was developed for use by people working in educational settings (the MBA-Educators Survey, or MBA-SEES).In both the HAS and SEES forms, the labels for the three dimensions reflected the focus on occupations where workers interacted extensively with other people (clients, patients, students, etc): emotional exhaustion, diversification, and reduced personal accomplishment. 2. 3 Major factors Burnout is an individual experience that is specific to the work context. Thus, the research over the past 35 years has maintained a consistent focus on the situational factors that are the prime correlates of this phenomenon.The results of this research paint a clear picture of the impact of the work situat ion on individual burnout. These situational Factors include Job characteristics, occupational characteristics, organizational characteristics. People do not simply respond to the work setting; rather, they bring unique qualities to the relationship. These personal factors include anemographic variables (such as age and formal education), enduring personality characteristics, and work-related attitudes. Several of these individual characteristics have been found to be related to burnout.However, these relationships are not as great in size as those for burnout and situational factors, which suggests that burnout is more of a social phenomenon than an individual one. 2. 4 Summary Burnout is a prolonged response to chronic emotional and interpersonal streamers on the Job, and is defined by the three dimensions of emotional exhaustion, diversification, and reduced personal accomplishment. With the sustainable velveteen of the economy make a spurt of progress of science and technology, people prefer to shop on the net, along with the rise of the logistics field.At the same time, faced with the grim work overload, the courier is easy to produce occupation burnout, which leads to the decline of quality of service phenomenon. The social focus of burnout, the solid research basis concerning the syndrome, and its specific ties to the work domain make a distinct and valuable contribution to people's health and well-being. Ill . Research Methodology 3. 1 Research Questions The present research was to examine the following research questions: here any burnout in the courier in logistics company in China? If so, how often? 2) What are the major factors which contribute to their burnout? 3. 2 Subject Description The 20 subjects, who participated in the questionnaire, are all the courier who are working in logistics in Beijing. The courier is mainly responsible for the business of University of International Business and Economics. All of them are male, whose age ranges from 21 to 50. All the 20 surveys are valid. The 3 interviewees, who are all over 40 years old, were chosen from the 20 subjects. These three interviewees were finally chosen because of the following sound reasons.First of all, of all the demographic variables that have been studied, age is the one that has been most consistently related to burnout. Among younger employees the level of burnout is reported to be higher than it is among those over 30 or 40 years old. Secondly, courier whose age ranges from 25 to 30, with I-to-5-year working experience, experience the least burnout . The three interviewees, who should have experienced the least burnout according to the research results, would offer us a picture of their real working lives in a logistics company, from which we may infer all the courier' lives there. 3. 3 InstrumentsIn order to resolve research questions,we refer to relevant literatures about Burnout of the courier in logistics company by internet, such as previous research papers, cases and so on. In order to obtain sufficient descriptive data for painting a clear and virtual picture of courier' lives in logistics company, 20 the courier accepted questionnaire. 3. 4 Procedures Steps : questionnaires Method for obtaining the research data needed by questionnaire, questionnaire includes content, questions, answer mode and index selection. Among them, the basic situation questionnaire,questions and answers to the questionnaire way.First of all, is the main respondents simple personal data, including age, education level, personal monthly income. This part is the single way, by the respondents. Secondly, the basic situation about the logistics company to express the benefits as well as courier attitude to work, including your company will provide the welfare, your company, your current subsidies which have their wages, do you think the extraction rate is reasonable and so on. This part of the respondents according to their own experience to answer. A tota l of 15 questions, each question has the certain. IV c. Results and Discussions . The questionnaires about courier Having out all the data from questionnaires into the pie charts, we can see from the table that respondents from 20 courier, who are mainly responsible for the business of University of International Business and Economics, in this study reported different conditions about their working. First, chart (1) shows the courier work how many hours a day: The statistics show working 8-12 hours a day, which accounts for 76%,is the most; then the next is working 12-14 hours with 17%, followed by working 8 hours, representing 4%; and finally come working more than 14 hours at 3%.Most couriers working time more than the legal working time 8 hours. Secondly, chart (2) shows the courier to present their wage level of satisfaction degree: The pie chart illustrates most of the courier that their wages are Just so so to this stage, there are some people dissatisfied, very few they are in satisfactory condition. Finally, chart (3) shows the courier attitude to the Job: 4. 2 Results to those research questions and analysis From the above data we can see that The courier work long hours, less satisfied with their income.Facing to heavy work and low wages, courier attitude to their work is not active. In this case,the courier is very easy to have the occupation burnout. The main factor which can make contributed to the burnout of the courier in logistics company in china is the Job characteristics and work-related attitudes. Thirty years of reform and opening up, China's economy has got enormous development, continuously improve the overall economy, comprehensive economic strength strengthens day by day.In our country, shortage economy era has ended, economic development has entered a structural surplus stage, economic growth has changed from supply constraint to demand constraint, the sustained and rapid economic Roth is brought about by the accelerated large quanti ties of goods, services and information flow, which also brought the logistics needs of the exponential growth. Facing to a lot of business in logistics company one day, especially on holidays, the courier is very busy and stress. Coupled with the salary is not very high, leading to low service quality.Long time waiting to pick up, occasionally suffering from customer scold, the courier feel bad. So go down for a long time, the courier is negative sentiment to the Job, gradually producing a occupation burnout. V . Conclusions 5. 1 Major findings In this part, the major findings will be elaborated in terms of two research Research Question One: Is there any burnout in the courier in logistics questions. Company in China? If so, how often? The answer to research question one is a definitely yes, there is burnout of the courier in logistics company in China.Furthermore, these courier experienced much more burnout in the special holiday sales activities. When online discount season ever y month, the courier's workload will increase greatly, at this time, courier will increase occupation burnout. Research Question Two: What are the major factors which contribute to their burnout? Having analyzed the qualitative data on the questionnaires with the twenty courier are working in logistics in Beijing, who are mainly responsible for the business of University of International Business and Economics. E know that the Job characteristics and work-related attitudes were the two main factors which contribute to the courier' burnout. 5. 2 Implications The research objective of this paper is to survey on burnout of the courier in logistics company in China. Logistics is an important link in the production and sales, is important to guarantee the efficient operation of enterprises. At the same time, the logistics service is an important aspect to improve the competitiveness of enterprises, timely and accurately provide customers with products and services, it has become an impor tant competitive factors besides the price between enterprises.The courier as the main logistics staff, also plays an indispensable role. As a service company, the most important is the service, the service decided the company, service is the company's survival, a company is mainly is the service quality. So as a service industry, the most important is the service personnel, logistics company is a service many, logistics company a lot of the courier, courier attitude to work directly affects the company's image, indirectly affect the social. This paper research on burnout of the courier in logistics company in China, help to further study and solve the problem of burnout courier. . 3 Limitations of the present study Firstly, the size of sample population is too small, which may make it difficult for the results and conclusions to be generalized. 20 courier are working in logistics in Beijing, who are mainly responsible for the business of University of International Business and Eco nomics. It cannot stand for all the courier in China. Secondly, the samples are all male, did not involve female. Gender is different, psychological also is different, lead to product burnout is different. This point has not done much research.What is more, Just questionnaires with 20 courier cannot provide us with sufficient opportunities to know what's actually happening in the courier' lives. Without thorough and deep data, it's hard to offer the most accurate and authentic first-hand materials to policymakers or administrators for figuring out a way to improve the current situations in logistics company in China. 5. Suggestions for further studies Firstly, researchers should enlarge the size of the sample population if possible, like surveying all the courier in a logistics company in China, irrespective of subjects, through the instrument.

Who Was the Emperor Augustus

The Age of Augustus was a four-decades-long age of peace and prosperity that evolved out of civil war. The Roman Empire acquired more territory and Roman culture flourished. It was the time when a capable leader carefully and cleverly molded the crumbled Republic of Rome into an Imperial form headed by one man. This man is known as Augustus. Whether you date his reign to Actium (31 B.C.) or the first constitutional settlement and the adoption of the name we know him by, Gaius Julius Caesar Octavianus (aka Emperor Augustus) ruled Rome until his death in 14 A.D. Early Career Augustus or Octavius (as he was called until his great-uncle, Julius Caesar, adopted him) was born 23 September, 63 B.C. In 48 B.C., he was elected to the pontifical college. In 45 he followed Caesar to Spain. In 43 or 42 Caesar named Octavius Master of Horse. In March 44 B.C., when Julius Caesar died and his will read, Octavius discovered he had been adopted. Acquiring Imperial Powers Octavius became Octavianus or Octavian. Styling himself Caesar, the youthful heir gathered troops (from Brundisium and along the road) as he went to Rome to have his adoption made official. There Antony prevented him from standing for office and tried to block his adoption. Through the oratory of Cicero, not only was Octavians close-to-illegal command of troops legitimized, but also Antony was declared a public enemy. Octavian then marched on Rome with eight legions and was made consul. This was in 43. The Second Triumvirate soon formed (legally, unlike the first triumvirate which was not a legal entity). Octavian gained control of Sardinia, Sicily, and Africa; Antony (no longer a public enemy), Cisalpine and Transalpine Gaul; M. Aemilius Lepidus, Spain (Hispania) and Gallia Narbonensis. They revived proscriptions -- a ruthless extra-legal means of padding their treasury, and pursued those who had killed Caesar. From then on Octavian acted to secure his troops and to concentrate the power in himself. Octavian, Antony, and Cleopatra Relations deteriorated between Octavian and Antony in 32 B.C., when Antony renounced his wife Octavia in favor of Cleopatra. Augustus Roman troops fought Antony, defeating him decisively in a sea battle in the Ambracian gulf, near the promontory of Actium. Beginning of the Principate: The New Role of Emperor of Rome Over the next few decades, the new powers of Augustus, the one leader of Rome had to be ironed out through two constitutional settlements and then the added title of Pater Patriae father of the country that was given him in 2 B.C. Augustus Longevity Despite serious illnesses, Augustus managed to outlive various men he had been grooming as a successor. Augustus died in 14 A.D. and was succeeded by his son-in-law Tiberius. Names of Augustus 63-44 B.C.: Gaius Octavius44-27 B.C.: Gaius Julius Caesar Octavianus (Octavian)27 B.C. - 14 A.D.: Augustus