History Of The World Trade Center Term Paper Example | Topics and Well Written Essays - 2500 words

History Of The World Trade Center - Term Paper Example Architect of the WTC 3. Design of the WTC 4. Construction of the WTC 5. Location of the WTC 6. Technology used in the WTC 7. Main purpose of the WTC 8. The last day in the history of the WTC 1. Situation of New York City in the 1960s. The first plans for the building of a complex for international trade and finance were hatched in the aftermath of World War 2. The New York State Legislature gave permission for a â€Å"vast trade, commercial, hotel and convention facility that would complement the international center of finance that Wall Street had become† (Fernandez, 2012, pp. 5-6). The United States had intervened in Europe and the Far East to contribute substantial economic and military aid to its allies, and this was the last indication in a long list of developments, that the colonial days were over, and America was a strong and stable state, ready to take a lead in world affairs. The United States of America was starting to experience some economic boom years and this he lped to provide the funding for civic developments that had been missing in the years between the wars. Industrialization in America had happened extremely quickly and advances in science and technology were giving American products the edge in world markets. Added to this, there were still streams of well qualified immigrants ready to give the economy an extra boost. There was a property boom in the 1960s which favored large building projects, especially those which undertook to renovate brown field sites and create jobs. New York itself was very crowded, but there was ample opportunity in the former docks areas to tear down old stock and make way for progress. The early 1960s was a period of optimism in the United States, and this helped to foster a climate of enterprise and adventure. In the arts, iconoclastic forms were all the rage, and in architecture the rigid forms of modernism were giving way to more playful postmodern ideas. It was a time of change, and this was exactly th e right moment for a monumental vision like the World Trade Center to finally come to fruition. 2. Architect of the World Trade Center. The man who was chosen to as the main designer of the World Trade Center was architect Minoru Yamasaki. He was born in 1912 to immigrant Japanese parents in the Seattle area where he went to school at Garfield High School. His parents were not wealthy, and he had to work hard to achieve his ambition, studying maths and science and doing well enough to be accepted to study architecture. It is reported that he suffered from some anti-Japanese prejudice, and he even worked in an Alaskan salmon cannery to help fun his studies at Washington University (Flowers, p. 178) Yamasaki’s later career continued with designs in the Seattle area that include the Pacific Science Center, the IBM Building and the Rainier Bank Tower. (Olson, 2012). He also produced internationally renowned designs in other countries too, including Saudi Arabia and Japan. With re spect to his design of the World Trade Center, Yamasaki was conscious of the international dimensions of the building, and the role that the United States plays in the modern world. He is quoted as saying â€Å"World Trade means world peace. The World Trade Center should, because of its importance, become a representation of man’s belief in humanity, his need for individual dignity, his beliefs in the cooperation of men, and through cooperation, his ability to

Financial Markets Assignment Essay Example | Topics and Well Written Essays - 1500 words

Financial Markets Assignment - Essay Example sk and return of different types of investments, it should be noted that past returns are no guarantee of future performance, especially with respect to expected returns, even over time intervals as long as several decades. However, past returns over very long time horizons can be informative. For instance, a 1987 study by Jones and Wilson indicated that $1 invested in 1870 Would have grown over the next century (by 1985) to $13,264 if invested in U.S. stocks, $340 if invested in U.S. long-term bonds, and $260 if invested in U.S. short-term money market debt (in the meantime, consumer prices had risen so that it took $8.40 to buy what $1.00 bought in 1870). Although equity returns have greatly exceeded debt returns over the entire time interval, bond returns matched those of stocks over time intervals as long as 60 years (e.g., 1872 to 1932). In another study (by Siegel in 1992), it was found that bond returns exceeded those of stock returns over another 50+ year period, from 1802 to 1861, although a dollar invested into stocks in 1802 would have grown in value to $955,000 by 1990 compared to only $5770 for long-term bonds, $2680 for short-term bonds, and $15.80 for gold (it should be mentioned that it took $11.10 in 1990 to buy what $1.00 bought in 1802). Thus, although stocks tend to average higher returns than bonds over the very long term, there is substantial risk of stocks underperforming bonds even over fairly long time horizons. On the other hand, commodity investments like gold tend to be very poor investments over long time horizons (even though they do tend to keep up with inflation) Although the return to real estate was not measured in these studies, most believe that average real estate returns have been close to that for stocks. However, many analysts...The value of any asset is a function of the cash flows expected from the asset. These cash flows can be valued by discounting them at an appropriate interest rate. The appropriate discount rate is the minimum expected return that is required on assets with similar risk (and with other relevant characteristics). Discounting the expected cash flows by the required returns yields a value, which if paid as the price for the asset, would result in an internal rate of return (IRR) equal to the minimum required return. Victor A. Canto and Arthur B. Laffer Theory and common experience postulate that general economic factors impact stock prices in the aggregate. These same factors can have substantially different effects, depending on the size, location, and the industry groups being considered.Over the past decade, research at A. B. Laffer, V. A. Canto & Associates has focused on developing a portfolio strategy that would identify differential performance based on overall economic environment, location, and size.