Being Self-Employed vs. Working for Someone Else

Being self-employed vs. working for someone else Self-employment and working for someone else has many of the same benefits and disadvantages. Although self-employment will allow a person to be his or her own boss and have endless financial possibilities, it also can be harder than working for someone else. Just because a person is able to work for their self, it does not mean that it will be any easier than working for someone else or even be more successful. Self-employment allows individuals to create his or her own schedule, allowing flexibility in the time that will be spent working.The flexible schedule of a self-employed individual is a good benefit. However in order to be successful at it, a lot of time has to be invested in it. If time is not put into the job, it will be difficult to maintain it. Having a flexible schedule allows the individual to have more time at home and also enable’s the person to work the hours convenient for their schedule. People normally find it easier to be self-employed because they feel that the freedom of working whenever they want or feel the need to may make the individual feel like they have power and authority they would not have working under a supervisor.However, good time management is essential to for self-employment. It is imperative that a person who is self-employed manages their time wisely and maintains themselves organized. It may take some time to get organized properly, but if the person practices how to best maintain organization with time, they will eventually come up with a work routine that best fits their work. Discipline is the key to being self-employed. If not, they run the risk of disorganization to the point where they will no longer be able to run their business or continue with their work.Without discipline and disorganization, the chances of financial success will be slim. Self-employment can be a financial success. There is the possibility of living very well when owning a business or si mply just work on your own. It also depends on what type of business or career path the person chooses in order to work for them selves. A person must consider that there are sometime’s many cost’s in initiating a self-owned business. Maybe start-up materials, hardware and financial management software to keep track of finances will often be needed when a person is self-employed.Organization and financial responsibility is crucial when owning a business or being self-employed. If the person that is self-employed does not manage money well, they run the risk of losing their business due to mismanagement. This will be a great disadvantage because not only is the person not able to be self-employed but they might have been out of the work field for a long time and did not gain much experience in a field that they would go out and try to work in after they figure out that working for themselves is not going to work for them.When the person tries to find a job and the hirin g manager sees how long they have been out of work and not enough experience, they may be hesitant to hire the individual. Working at a place of employment for someone else also has many benefits. For the most part, the employee will have a set schedule weekly and the employee will have to follow that schedule. Normal business hours are 8:00 a. m. to 5:00 p. m. unless of course the person works part-time, they work at a restaurant, a retail location, or maybe just a job that will schedule the employee when they are needed.In this case however, the employee does not set their own schedule, their supervisor, or boss will be responsible for that. There is not much flexibility with the schedules at a place of employment. While working for someone else, he or she is normally working under someone that they need to answer to and flexibility is very rare in the corporate world. A supervisor however, will take any time off needed as in vacation time, personal and sick time. Employees are en titled to the time off when working at a place of employment.Depending on the work field and if the individual is a full-time or part-time employee, the time off will be paid by the employer. The rate of pay at work place may not always be what the employee needs or is looking for. It could just be enough to make ends meet but it can also be exactly what the individual is looking for. Many companies require college degrees in order to make what the individual needs or should make with regards to their salary. Along with having a college degree, experience is absolutely necessary to earn top dollar.A degree does not necessarily mean that a person will be the most qualified to do the job but it does give the hiring employer that the employee they are considering has a sense of discipline, responsibility and knowledge that comes from a person with a college degree. Without the requirements, it will not be easy to obtain the type of salary the person wants. There are instances where eve n if the person meet’s the requirement’s needed to obtain a high or decent salary, some small companies are not able to pay these high salaries even if they wanted to.That is when individual either settle for what they are offered, continue searching for a job that meet’s their expectations, or become self-employed. Being self employed vs. working for someone else has many of the same advantages and disadvantages. To be self-employed, an individual needs to make sure they are organized and are prepared for the overhead cost’s that come with either owning a business or possibly just providing for your self and not having to answer to someone else. Working for someone else is not bad.A person has to be prepared and make every effort they need to in order to be successful at their place of employment. People in life have to make choice with regards to their careers. Do they work for themselves or do they work for someone else? In the end, he or she must choo se what makes the most sense and what he or she will know they can handle or not. Just because someone works for themselves, it does not necessarily mean that it will be easy. It can be just as hard as working for someone else.

Political Discourse Essay

Political incivility has been around for a very long time. According to the article â€Å"The Rise and Fall of Nasty Politics in America†, a number of studies have been conducted to prove that politics has always been â€Å"a bit rough†. Many people in and out of the political world are agreeing that politics these days have turned in to a horrible cycle. Politics today involves nasty language about fellow members families, angry protests and violent outbursts. Sometimes racial slurs and discrimination is also involved in bringing down your opponent. Furthermore, political incivility has caused a variety of problems in American politics throughout the years. Knowing this, what are some of the things that can be done to help increase political civility? Political incivility has caused a variety of problems in the political process. Politics today is often biased based off of the partisan media and views of opposing sides of various parties. According to the article â€Å"What Is Civil Engagement Argument and Why Does Aspiring to It Matter? † the partisan media only shares those facts that are inconvenient to their opponents, engage emotion, and replace argument with ridicule causing many of the listeners or viewers to have angry views of the policies on the opposing side. Allowing the partisan media to be broadcasted for Americans to see causes outrage and incivility in the world around us. This brings me to my next point where the violence in the political world is getting out of control. The violence that occurs includes both physical and emotional attacks by the opposing parties. For example, the district office of a Georgia representative was defaced with a swastika, and the lawmaker, who happens to be African American, has been the recipient of racist hate mail (Shea and Sproveri, 417). There have also been many other instances where racial violence was used including during the final health-care reform meetings. A lot of the protesters yelled out racial slurs at the African American members of Congress. Also during this time one of the legislators was spat on while entering the Capitol Building to cast his vote (Shea and Sproveri, 417). This type of violence causes politicians to lack the motivation to run for office. Olympia Snowe, a former Senate member, finds it very frustrating that the atmosphere of polarization and the â€Å"my way or the highway† ideologies has become persuasive in campaigns and in our governing institutions (Maisel, 408). She is resigning from office and decided not to run for her forth term in office. Other politicians are afraid of ridicule about their families and therefore will not be running for office any longer. Another reason that political discourse is harming the American political process is it is influencing the ability of govern. â€Å"Incivility leads to an inability to govern and, therefore, more can be done in other areas† (Maisel, 408). The inability to govern leads the government officials to detach from politics and take interest in other areas. Also, politicians in today’s era have only one thing on their mind and that is to win. They do not care about the common good or the similar believes of the opposing parties. All they want to do is finish on top. This situation is causing the president and other officials to lack the ability to pass laws that may benefit the whole population. â€Å"According to NBC News-Wall Street Journal poll conducted in the fall of 2011, more than four out of five voters felt that the Congress’s decisions on the debt ceiling were decisions made for partisan political advantages† (Maisel, 408). This is problematic because it brings other officials to not want to run for office and for the population to be dissatisfied with the whole system of government. This can lead to outburst and protests by the people of the nation. So, what is the best way to increase civility in American politics? First, we can follow the ways of the people during the World War II period where partisan differences still existed but at the end of the day the government officials went back to their families where their wives and children were interacting with the wives and children of those with whom they had been debating with (Maisel, 409). In those times, the politicians worked together for one cause, which was to be united and progress with the well being of the nation. That is what the politicians in today’s world need to realize. The politicians in that era had certain rules they needed to abide by like they had to treat others involved with respect and civility. They also relied strictly on truth and not on the fact that they need to win no matter what the consequences to the nation are. This seems to be one of the biggest problems that the American politics has today. The US House of Representatives has it’s own set of rules that ensure that there is civility. The Congress has a set of rules that ensure that the disagreements in Congress are purely philosophical but not personal and that their views are legitimate even if they are wrong (Jamieson and Hardy, 412). This is exactly the type of rules that need to be set for regular debates and this will ensure that the members do not over step those boundaries. The House makes sure that the members do not call each other bad names or over step any boundaries that may cause them to lie. They are not even allowed to call their fellow members hypocritical even if they are being hypocritical. Their understanding is that each side needs to be heard and then they will come up with a compromise to make both parties accept it. In conclusion, the political incivility going on today is effecting the government in ways unimaginable. Politicians are not willing to run for office because of their fear of having their families or themselves ridiculed and talked about in an inappropriate manner, there is a big increase in violence during debates and the politicians of today are only focused on winning and not on the benefit of the greater good. There is a lot that needs to be improved before there could be any type of change in the political world. The government needs to set a variety of rules for debates just like the House of Representatives or the Senate has that will set a limit to the type of things the politicians can say to each other. This will minimize the political discourse today and help new politicians accomplish more and help the nation prosper in the future.

Intercultural Communication Essay Example | Topics and Well Written Essays - 1500 words

Intercultural Communication - Essay Example What I have learned during the course on intercultural communication is that in today’s world of growing contacts in every part has resulted in effective communication among the people of different languages and cultures. In this present scenario, communication has got to be as positive as possible without any possibilities of breakdowns and misunderstandings. I believe that research on the characteristics of languages and similarities and differences in cultures will provide a definite outcome (Nasreen, â€Å"Some Views about Intercultural Communication†). The above pictures show the eating styles of two different cultures: the Western and the Arabic. In the Arabic countries, people dine in a different style than that of the people in England. In Arab countries, a carpet is first put on the floor where the people wish to dine. Then cushions are set on the carpet for the people to sit on. Instead of cushions, at times small stools are used for the purpose of sitting. Then placing the plates, glasses, cups and dishes on the carpet, they start dining (Fairfax Country Public School, â€Å"Arabic Upper Levels > Scientific and Creative Advancement†). In England, people eat in continental style where knives are placed in the right side and fork in the left. Moreover, there are number of eating etiquettes that they follow while dining in England. These etiquettes are taken as a rule of eating in England and the people put much emphasis to the table manners during dining (Barrow, â€Å"Acceptable Behaviour in England†). During our semester, I came across students of various cultures and groups and developed friendship with them in due course of time. When we used to have dinner in any of our Arabic friends’ place, we used to dine in the floor in their traditional manner. The dining style of my English friends was not new as this was considered as the standard style in the world. By

The Pioneers Term Paper Example | Topics and Well Written Essays - 2250 words

The Pioneers - Term Paper Example This paper is a critical analysis of contributions of Isaac Newton and Aristotle, some of the most distinguished scientific pioneers in the history of humanity. Isaac Newton Sir Isaac Newton, a distinguished English philosopher is considered as the most creative and prominent scientific theorist of all times. His most remarkable contribution in mathematical and scientific fields includes the discovery of infinitesimal calculus and pioneering theories in the study of light and color. Moreover, Isaac Newton revolutionalized physical science by the discovery of the three laws of motion and the law of gravitational pull (Westfall, 1971). His contribution in science and mathematics resulted to development of classical mechanics, a very influential scientific discipline. Though Isaac Newton is considered to be one of the most original thinkers, he collaborated the works and ideas of other scientists in the 17 century and before such as Kepler, Galileo, Descartes and Copernicus among others . Isaac Newton asserted this fact by acknowledging in one of his most famous quote that if he had seen further, it was by standing on the shoulders of giants (Alexandre, 1965). He distinguished himself as a brilliant physicist, astronomer, mathematician, alchemist and as a natural philosopher. According to Westfall (1971), Isaac Newton was born in January 4, 1643 to Hannah Ayscough and Isaac Newton. His actual place of birth was at Woolsthorpe, a rural town in Lincolnshire County. During his birth, the Gregorian calendar was not used in England then and hence his birth date was recorded using the Julian calendar as 25 December 1642. The Gregorian calendar, which is the modern style, was adopted in 1752 in England and it was ten days ahead of the Julian style (Westfall, 1971). Isaac Newton was born prematurely and his father had died three months prior to his birth. Later, his mother Hannah remarried when the boy was just three years old, an incident that most Newtonian biographers c onsider as traumatic to his childhood and adulthood. Soon after his mother remarried, Isaac Newton was left under the care of his maternal grandmother Margery Asycough (Westfall, 1971). Isaac Newton was separated from his mother until 1653, when she returned to her motherland after the death of her second husband. He enrolled at King’s school after refusing her mothers attempt of dropping him out of school to train him become a farmer. Isaac Newton’s early academic life was lackluster, but he later, he discovered his abilities after joining Cambridge University from Woolsthorpe in 1661 (Hall, 1980). Cambridge University is a renowned institution of higher learning but at the time of Isaac Newton admission, the centre had not yet grasped emerging scientific changes in its curriculum (Hall, 1980). In this regard, Ackrill (1981) noted that the curriculum was based on ancient works of Aristotle and other classical authors. In this respect, most biographers affirm that Isaa c Newton’s undergraduate studies involved a lot of Aristotle, resulting to his undistinguishable academic performance. However during this time, Isaac Newton concentrated and mustered the works of

Final Research project paper Example | Topics and Well Written Essays - 1000 words

Final project - Research Paper Example The school management shall be college managers with rich knowledge on the feed history of the school’s funding system and the college’s future plans on school funding. Saunders et al (2003) posit that there are six major forms of research design. Among others, case study shall be chosen as the preferred research design for this research work. Soy (1997) emphasizes that â€Å"case study research excels at bringing us to an understanding of a complex issue or object and can extend experience or add strength to what is already known through previous research.† In the context of this research, the complex issue or object at hand is the funding of Community College of Philadelphia. Cases study also comes with a specific point of data collection. The Community College of Philadelphia is the point of data collection. Data shall be collected from participants from both on and off campus. Data to be collected from participants shall deal with sources of raising funds for the college without putting any pressure on students. Sampling deals with the process of selecting respondents from among the population. The procedure or method used in sampling is referred to as the sampling technique (Koduah, 2007). There are several available sampling techniques. The researcher shall however use the purposive sampling technique to select the sample size. Purposive sampling has to deal with the selecting of respondents in a purposeful manner. This means that not all people in the population have an equal chance of becoming part of the sample size. The advantage with purposeful sampling is that it saves a lot of time in its implementation. Again, it helps in selecting only the most preferred and appropriate people with the right expertise for the research. Because the sampling technique is purposeful sampling, the participants shall be pinpointed by the researcher. The researcher expects 100% response rate since the sample size is relatively small.

Greek Mythology Essay Example | Topics and Well Written Essays - 500 words

Greek Mythology - Essay Example This is why a bull is specially remembered when this cult is mentioned because it is thought that it was the assumption of this shape that actually brought down the end so swiftly on Dionysius. It is stated in a legend that Apollo went to the city of Delphic when he was just a four year old boy to kill a huge serpent because it had, according to legend, molested the mother of Apollo and he wanted to avenge the mistake committed by the serpent. The serpent was not any normal serpent in fact it was the son of Gaia and he sent holy verses by means of fissures in a rock, these fissures were inhaled once by the priestess, pythia and this inspired her to let every know what these cryptic verses meant and hence she wrote down the Delphi oracle which gave a voice to these cryptic verses. Since, Apollo killed the great serpent he was able to take his place. Apollo had numerous affairs; at Delphi he learned archery, music and singing and was very good at it. The first temple to Apollo built by the Romans was in 432 B.C.

Written Analysis Essay Example | Topics and Well Written Essays - 2000 words - 1

Written Analysis - Essay Example ar was declared by Austria Hungary on Serbia and it spread rapidly to Russia, Great Britain, France and Germany because they were involved in treaties and hard to defend the nations. The war continued but there came a time when frustrations, depression, demoralization sickness and even hopelessness due to the loss of lives engulfed the troops. But finally the war came to an end in the late falls of 1918 after the involved member countries of the Central Powers signed an armistice agreement. Each of them had to sign. The ending of the war had some significance importance, for instance Germany was severely punished and this led to World War II as many historians tend to believe. There are many articles and books written containing the description of World War and the themes found. In this paper I will try explaining various themes as described by different authors in relation to the issues on gender, war and trauma. The overwhelming loss of loved ones in the First World War led people to become iconic writers like Virginia Woolf, Wilfred Owen, and Sassoon among others. Such writers embraced some form of mysticism in order to cope. They had experienced unexplainable and unimaginable losses of loved ones and trauma in their early lives which helped them is sensitive to losses friends and relatives in the war. They were fascinated with the works of a psychical researchers especially Frederic Myers that included potential extensions of personality for example clairvoyance, telepathy and automatic writing a phenomena that enhanced personality survival discouraged its death. Literature analysis of the First World War literature and psychobiography showed that engagement of the writers with mysticism and spiritualism was not misleading at all but constituted a more ethical, creative and therapeutic form of mourning. It was better than finding solace from state-sanctioned representations of mourning such as war memorials. ‘The Kind Ghosts’ is one of Owens’s most

Paternity civil case and calculation Essay Example | Topics and Well Written Essays - 4000 words

Paternity civil case and calculation - Essay Example These include the U.S. Federal Bureau of Investigations (FBI) Combined DNA Index System (CODIS) markers used in DNA evidence. Butler (2006) indicates that markers were first described as an effective tool to ascertain human identity in the early 1990’s. Since then they have become important tools which have been employed in order to resolve numerous paternity testing cases. Identigene (n.d.) indicates that genetists developed this set of markers to ensure a level of consistency in identifying individuals and named them according to their chromosomal location. Each of the marker location shows two alleles (variation values) represented by the numbers in the table below. In this case Identigene (n.d.) indicates that the alleles are measures of short tandem reports (STR). One of the STR alleles is from the mother and one from the father. If at least one of the markers for each STR locus matches then there is assumed to be a high probability of a paternity relationship. On the oth er hand if at least one of the markers for each STR locus does not agree with the alleged father’s then this is an indication that there is no paternity relationship. A paternity index that is greater than 100 yields a CPI of 99.0000%; one that equates to 200, yields a CPI of 99.5%; and one that equates to 1000 yields a CPI of 99.9900%. Identigene (n.d.) indicates that immigration cases require a CPI value of 200 or better. The International Society of Forensic Genetics (ISFG) has a number of recommendations on biostatistics in paternity testing. These include: the importance of a statement of a hypothesis; information on how the calculations are done, considerations for the possibility of mutations whenever a genetic inconsistency is observed; guidance relating to the possibility of a single allele in a tested subject; as well as the details that should be presented in test reports. According to Gjertson et al (2007) the International

Analysis and Evaluation of an Advertisement Essay

Analysis and Evaluation of an Advertisement - Essay Example Further downwards are the following lines of text respectively; ‘Starrex Music Phones’, ‘Customized playlists’ and ‘Sound effects’. These texts are in white. On the background of the above texts are other two lines of text in black, ‘Mix your Music ‘, ‘Karaoke’ The advertisement is neatly designed with the four dancers in positioning themselves in along a curve with the central two appearing much larger than the other two on the extremes. The space in the advert is optimally utilized with both the texts and the images covering about three-quarters of the advertisement pages. The color use in the advert is deep orange in the background especially behind the text and on the upper sections of the beautiful sky. At the centre of the advertisement page are the shades of brown and white which extent to some parts of the sky. As to the effect of the advertisement display; it targets the youth population. The advertisement presents a colorful and a busy display due to the evidently vigorous dance and the fiery coloration of the deep orange just adds to this effect. Because of these aspects, this advertisement presents a wonderful cutting edge presentation that impacts a great deal on the viewer. All these attributes of the advertisement talk a lot of the modernity and such appeal to a larger extent to the youth (Nicolosi 80). To emphasize this, the advertisement persuades the audience to obtain the displayed phone type so as to be in control of their own entertainment, through managing their own customized playlists and being able to mix their own music karaoke. The logical appeal of the advertisement with regard to the logos is great. This is because the consistency and clarity of the message being conveyed, ‘an awesome and joyous experience with respect to entertainment from such a phone’, is the eve emphasized by both the images and colors. Next, with respect to the

Social Consequence of the Internet for Adolescents Essay Example for Free

Social Consequence of the Internet for Adolescents Essay Social consequences of the internet for adolescents. â€Å"Obviously, when media use changes, its outcomes may change. Because adolescents now predominantly use the Internet to maintain their existing friendships, the condition for negative effects of the Internet on social connectedness and well-being no longer exists. It is no surprise, therefore, that most recent Internet studies have demonstrated that adolescents’ online communication stimulates, rather than reduces, social con- nectedness and/or well-being. For example, in a 2-year follow- up study based on their initial sample of Internet novices, Kraut et al. 2002) found that Internet use improved social connect- edness and well-being. Several other recent studies have dem- onstrated significantly positive relationships between online communication (mostly IM) and adolescents’ social connected- ness and/or well-being (e. g. , Bessie` re, Kiesler, Kraut, amp; Boneva, 2008; Valkenburg amp; Peter, 2007a). However, these positive results are only found for adolescents who use the Internet predominantly to maintain existing friendships (Bessie`re et al. , 2008). When they use it primarily to form new contacts and talk with strangers, the positive effects do not hold (Bessie`re et al. 2008; Valkenburg amp; Peter, 2007b). † The study shows that adolescents strive for more friendships online then they do when they are face to face. The study shows that males open up more online then they do in person. Being online helps them express their feeling better through online self disclosure. The challenges these teens face as a result of technology, I believe is balancing the two of them. For a teen who is very open online, but when they get into a personal setting cannot display the same social skills, then that could hurt some of their friendships. They are almost living a double life. Online they are this larger than life personality. When they are in person they are an introvert. Social development for our grandparents was very different. If they did not go out and make friends, then they had none. Everything for them was face to face. Their was no technology for keeping in touch other than the telephone, but even that was not used the same. Back in those days there were a lot more social gatherings. And when they had the gatherings a lot of people would attend. Because, that’s how they kept in touch with each other. Reference: Social Consequences of the Internet for Adolescents, Patti M. Valkenburg and Jochen Peter

Effect of Business and Management on SACCOs

Effect of Business and Management on SACCOs The background gives a brief history of the savings and credit cooperative societies, highlights its importance to the society and touches on the problems that have influenced its performance of its roles and finally on the possible solutions or causes of actions. This preambles the statement of the problem, the purpose, significance, scope and limitations of the study together with the research questions. 1.2 BACKGROUND OF THE STUDY One of the basic principles of Cooperative Savings and Credit Movement is the belief in co-operation and mutual self help for the uplifting of members standards of living. Kussco(2006). Members with a common bond join hands to form those quasi-banks institutions. With finances mobilized through such joint efforts the savings and credit society members build up the capital which they can use through local arrangements to finance their own social as well as economic development. The traditional form of cooperation involved working together on farms, hunting and gathering. All people have basic needs of food, shelter, security and belonging. People would invite neighbors to come and give a hand. Also people did not have money and resources, which enables individuals to employ people or machinery to do the work for them. In any community cooperation usually exists in the form of associations of people who come together as a group driven by their social and economic needs in order to cope with their problems and improve their conditions of living MOCD (2006) According to Odepo and Nyawinda (2004) , savings and credit cooperatives societies (commonly referred to as SACCOs), accept monthly payments for shares from which, members may borrow an amount equivalent to two or three times their own savings if they can get other members to guarantee them. They say that growth in SACCOs in the last twenty years has been spectacular. According to statistics from Kenya Union Of Savings and Credit Cooperative societies   (KUSCCO), the number of SACCOs rose from 630 in 1978 to 3,870 by the end of October 2002 while savings and share capital rose from Kshs. 375 million   in 1978 to Kshs. 80billion by 2003. Credit outreach similarly recorded significantly, having risen from 357 million in 1978 to kshs. 70 billion by 2003. Saccos active members numbered over 1.5 million by 2002 having risen from 378,500 members in 1978. Their rapid growth indicate that they have filled a need which had not been made by the financial institutions. Of the Kshs. 110 bill ion in the current share capital and deposits held by cooperatives, the statistics show that Kshs. 90 billion has been lent out to customers. However, the recent statistics from the ministry of cooperative development and marketing shows the position as below The internal management principles need to be enforced strongly to improve efficiency of collections, and even perhaps consider insuring the loans in case of demise of member loaned. The Sacco movement has the capacity to propel the economic lives of the citizens if indeed it is well managed. Its principles of democratic management, voluntary membership and common bond give it the base to take its members to new heights. The movement has been a boon for this country and many people would not be where they are now were it not for the harvests of the opportunities sowed in the garden of the movement. It mobilizes savings and finance and penetrates to areas not valued by other financial institutions, while serving special needs of members. The prospects for the industry are so huge. By identifying the fact that the easiest source of funding is the locally mobilized savings, the saccos should come up with innovative ideas to encourage the members of the common bond to save, as a first step. Other sources of funds like the cooperative bank, which all the saccos have a stake in, should be considered exhaustively. Besides they should think outside the box and get organi zations willing to empower members economically by allowing loans at a rate less than what saccos offer to its members. The saccos umbrella body- Kussco- has a fund to assist the member saccos when they are in need of the funds   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   ( www.kusco.com) Saccos face numerous challenges that hinder the exploitation of their full potential. Mudibo(2005) raised concerns on the calibre of leaders who run saccos noting that since these are voluntary organizations, members can elect anybody they like, who may not necessarily have the skills to run a sacco. He suggested that before a member is elected, he should have certain number of shares so that he has something to loose if he mismanages the sacco. Non remittance and delayed remittance of cooperative dues by employers has led to inconveniences and loss of income by the societies. New rules have however provided stiff penalties for errant employers. Members are also at risk due to HIV/AIDS and ways to attract new members are required. Ngumo (2005), in his article the cooperative movement in Kenya; the eagle that wont fly Nairobi, Kenya institute of management raises several unsettled issues affecting the saccos. First the government should decide on whether to control or facilitate the cooperatives. Cooperative roles should be re-emphasized. One member one vote should be questioned. Instead he suggests the policy of one share one vote. Still, ownership and control should be de-linked for good corporate governance. Then business strategies need further scrutiny before implementation. He concludes that it will be sad for Kenyans to compose a eulogy for the movement after all this time. He said; We cannot milk a cow, refuse to feed it, cry that it was wonderful cow and blame God for its demise. According to National Micro and Small Enterprise (MSE) Baseline Survey (1999/2000), Kenya has a relatively well developed banking and formal financial sector. This consists of the Central Bank, 43 commercial banks, 16 non-bank financial institutions, 2 mortgage finance companies, 4 building societies , 8 developed financial institutions about 3870 cooperative savings and credit societies, 38 insurance companies, the Nairobi stock exchange and venture capital companies. The survey further indicates that nearly 89.6% of MSEs had never received credit and other financial services. Table 1.2 Sources of credit   to MSEs in Kenya 2000 Source: National MSE Baseline survey 1999/2000 (CBS, K-rep and ICEG) The unserved credit needs portrayed by the statistics in the table 1.2 in the background section above signifies a wealth of opportunities untapped by all the financial institutions. The proof of the existence of market implies that a lot needs to be done to raise what it takes to serve a market. The most basic need is the finance to lend in a discipline way. Voluntary savings from members is therefore imperative. Saccos abilities to improve their members wealth is determined by a number of factors, among them is the funding levels due to members marginal propensity to save, contributions; remittance by the employers, legal and regulatory framework, internal management principles and practices (e.g customer service, marketing, dividend / interest payment etc) amongst other factors. These factors level of influence on saccos ability to perform captured the attention of the researcher. It was the intention of the researcher to examine them and possibly recommend on the best way to miti gate the underlying challenges and take advantage of the available opportunities by exploiting existing strengths. Voluntary deposits / savings as a source of commercial finance for micro credit institution have generated a lot of interest and debate in recent years. Locally mobilized voluntary savings is potentially the largest and the most immediately available source of finance for some micro credit institutions, most of all the saccos. Bearing this in mind, one is left to wonder what is hindering the saccos from prosperity, given the access to its resources and the wealth of its opportunities. The purpose of this research is to broaden the discussion of what, when, why and how a sacco should use its resources, get the right framework, apply effective policies for improvement of the wealth of its members. Getting these elements right is a crucial part of meeting the demand for the unmet credit needs. The researcher will also seek to bridge the gap that exist between Saccos that have exemplary performance in their services to members and excellent returns and some others which barely afford to offer loans, leave alone dividends. According to Armstrong, performance is often defined in output terms the achievement of quantified objectives. But performance is a matter not only of what people achieve but how they achieve it. High performance result from appropriate behaviour, especially discretionary behaviour, and the effective use of the required knowledge, skills and competencies. 1.3 STATEMENT OF THE PROBLEM Quite a number of Saccos e.g TENA sacco, have a long string of pending loan applications from members SACCO star ( 2006) . Some saccos pay out little or no dividends/ interests on members savings. Some others still have a low loan multiplier and / or limited concurrent loans compared to some well performing counterparts e.g Stima Sacco, Sacco star,(2006)- which has even started ATM services for FOSA customers and manages to advance more that three times the members deposits, can give up to four concurrent loans without closing any applications for the year and gives loans almost immediately it is applied for by the member , (mwaura (2004). Among the major problems hindering this is the unavailability of much needed cash to lend, when it is required. This therefore causes a mismatch in the availability of funds and the demand for loans. Other reasons could be poor investment decisions or lack of investment opportunities or delayed cash flow from employers/ members among others. Rutherford (1999) wrote that funding these large sums of money is the main management problem. The only reliable and sustainable way is to build them from savings. Saving- making a choice not to consume- is thus the fundamental and unavoidable first step in money management, without which financial services cannot operate. The poor themselves recognize the need to build savings into lump sums and contrary to the popular belief, the poor want to save and try to save, and all poor people except those who are entirely outside the cash economy can save something, no matter how small, When poor people do not save, it is for luck of opportunity rather for lack of understanding or of will. Most of the saccos have succeeded in mobilization of savings from members. Inspite of this, still they have a huge backlog in terms of loans advanced to members (Sacco star, 2005). Furthermore, most of the saccos pay little dividends/interests on deposits or none at all, in-spite of trading with the deposits/savings. It was therefore the intention of the researcher to seek to establish the determinants of saccos capabilities to improve its members well being. 1.4 OBJECTIVES OF THE STUDY Main Objective The main purpose of this study was to investigate and refine our understanding of the major factors that determine the performance of saccos to enable them maximize their members wealth. Specific objective Specifically, the study sought: To find out the extend to which the nature of business/ check off system affects performance of SACCOs To establish the relationship between management practices and performance of SACCOs To examine the level of education and training of general members, committee members staff and their effects on performance of SACCOs To determine if long term investment affects performance of SACCOs 1.5 RESEARCH QUESTIONS To what extent does the nature of business/ check off system affect performance of SACCOs? Do management practices affect performance of SACCOs? Is education and training of general members, committee members staff a factor that affects the performance of SACCOs? Does long term investment affect the performance of SACCOs? 1.6 SIGNIFICANCE OF THE STUDY This study is aimed at developing an understanding on major factors determining the accessibility to funds to process and dispense all loan requisitions in time by saccos in Kenya. It is seeking to examine and underscore the salient principles that have a bearing in the success in similar or related areas of focus, and hence suggest ways and means of overcoming failure. The study is aimed at benefiting, among others, the management teams. These are the people entrusted by the members to take care of their interests in saccos. They will study to understand and improve on policy setting and implementation for overall sustainability of the sector. The entire sacco membership will also get enlightened. The members of the common bond will appreciate their role in sustaining their welfare through sacco as a vehicle. They will be more willing to take a center role instead of quiting when they feel their interests are not being taken care of by the people they entrusted them with. It will also benefit the sacco staff/secretariate; these are the people who get their daily bread from the sacco. They will understand their role in the growth of the organization, hence acting to secure their source of livelihood. It will also be of good use to the government department in charge of cooperatives. The report will bring to light issues requiring framework and only them can attend to for the overall sustainability of the sacco industry. Finally other researchers in this area will find this useful. They will get recommendations for further research from this study. The beneficiaries will have access to the information on the findings from the compiled report. The final report will be available in selected major libraries, organized groups, especially the respondents will get a copy of the report on the findings. 1.7 SCOPE OF THE STUDY This studys scope was the saccos based in Eldoret. The researcher selected a suitable sample from the population by purposive convenience sampling. According to the statistics from MOCD/M, there are about 10 such saccos within Eldoret town. About 40 % of the population (4 saccos) were covered by the study. The study targeted the members of the central management committee (CMC) in the selected SACCOs. CHAPTER TWO 2.0 LITERATURE REVIEW 2.1 Introduction to literature review This section contains literature that has been reviewed and continues to be reviewed relating to the problem. Literature review involves locating, reading and evaluating reports of previous studies, observations and opinions relating to the planned study. It therefore enables the researcher to know what has been done in the particular field of study, makes one aware of what has been made and what challenges remain, and gives suggestions on the variables and procedures that could be used. Literature review logically leads to objectives on the study. 2.2 Past studies in the area 2.2.1 Background information According to Mwaura (2005) sessional paper No. 4 of 1987 on renewed growth through the cooperative movement highlighted the significance of the movement in national development. By this time there were 3500 registered cooperatives with more than 2million members and an annual turnover greater than 6billion. The paper noted that one in every two Kenyans derived its livelihood from the cooperative either directly or indirectly. The cooperative movement in Kenya is reputed to be the most advanced in the African continent. The Kenya Nordic agreement of 1967led to the establishment of the Cooperative college of Kenya at Langata, which is the main training ground for both ministry staff and the movement employees. According to MOCD (2002) the first Savings and credit Cooperatives in Kenya were started in the sixties. The Government annual economic survey shows that as at December 2002 there were more than 2,400 active SACCOS with membership in excess of 1.5 million people. Share capital stood at Kshs. 65 billion while outstanding loans were Kshs. 59 billion.. The structure of the cooperative movement in Kenya comprises of four tiers. These include the primary societies, secondary cooperatives, tertiary cooperatives and nationwide cooperatives. The Kenya Federal of Cooperatives (KNFC) is the only apex society in the movement. It was formed with an objective of promoting, developing, guiding, assisting and upholding ideas of the cooperative principles. KNFC is the link between cooperatives in Kenya and the international cooperative alliance. Of special mention here is the African Confederation of Cooperative Savings and Credit Associations (ACCOSCA), which is registered under the Societies Act, Chapter 108 of the laws of Kenya. Its area of operation is Africa and the adjacent islands. Its head-quarters is in Nairobi. It has twenty five affiliated organizations. It is affiliated to the International Cooperative Alliance through its members in the world council of Credit Unions (WOCCU). According to the cooperative Societies Act (Cap 490), persons desirous of forming a cooperative society must fill the prescribed form from the commissioner for cooperatives. It requires that at least ten members will sign the form, though for savings and credit the commissioner has been asked for more people. The form requires that the society makes its by-laws. For ease of convenience the commissioner has prepared model by-laws for the cooperative societies. The societies are nevertheless free to change these or come up with their own by-laws. The by-laws must detail the following; the name of the society, objects of the society, purposes to which its funds may be applied, disposal of surplus funds, qualifications for membership and terms and conditions of admission of members. For savings and credit cooperatives, the following are also includes, the rate of interest, the maximum amount loan-able, extension, renewal and recovery of loans and the consequences of default in the repayment of any sums due. On receipt of the application form the office of the commissioner will register the cooperative society on the advice of the cooperative officer in charge of the area of operation. Chapter 490 provides that no companies registered under the companys Act or any un-incorporated body of persons shall become a member of a registered society except with the written permission of the commissioner. It also provides that no person can join more than one cooperative society with unlimited liability. A member may nevertheless be allowed to join two or more cooperatives with limited liability if the two are in different areas of operation. A cooperative society just like a company, may be registered with or without limited liability. The commissioner has power to refuse to register a cooperative society. Nevertheless, the refusal must be given to the applicants in writing. Applicants can appeal to the minister for cooperative developments and finally to the high court. The commissioner may register the cooperative either provisionally or fully. A provision registration is given where some requirements for registration have not been met. The applicants are given a period o f one year to satisfy all conditions. A provisionally registered cooperative society may act as a fully registered in all ways. Upon registration such a cooperative society is deemed to have been registered on the date of the provisional registration. Upon registration a society becomes a body of corporate. According to Ouma(1980), the term cooperative in its widest sense simply means working together. In this context cooperation is as old as mankind and exists wherever the human family is found. Indeed such cooperation exists among animals, insects, bees and ants. Thus cooperation generally means working together for a common purpose. Thus group effort through traditional form of cooperation may be traced in all communities of the world. However its narrow sense as a movement, it means an association of people whose purpose for group work yields good results not only for the members but to the community in general and even to the humanity at large. Cooperative is a business organization by profit, but rather the result of mutual association whose objective is equitable economic betterment of man and the society in which he lives. According to the MOCD, cooperatives are regulated by a set of principals. These principles were formulated by a group of people who lived in a village in England known as Rochdale, and they are therefore referred to as Rochdale pioneers. They formed the first successful cooperative society   in 1884. This society which was a consumer cooperative society was formed in 1844 when Britain was undergoing industrial revolution. As a result of the revolution, a lot of people lost their jobs in the factories as machines were introduced to replace them. In addition to this there was general lack of credit and supply of essential commodities like salt, sugar, flour and cooking fat. Businessmen also took advantage of this situation and started offering impure products at high prices. It is against this background that Rochdale Pioneers decided to draw up some sort of principles which would guide their operation as cooperative society.   These principles were intended for the regulation of cooperative society as indicated by the great stress on the sale of pure products and the sale of goods for cash only. It was therefore found necessary to formulate the principles for adoption by other types of cooperatives. The International Cooperative Alliance (ICA) Commission of 1966 adopted the following principles which are genuine for the running of a genuine cooperative society:- Open and voluntary membership, democratic administration (one man, one vote), limited interest on share capital, payments of dividends and bonuses to members, promotion of education and cooperation with other cooperatives at local national and international levels. According to Ouma (1980), the traditional cooperatives have been in existence in Kenya, as it has been elsewhere, from time immemorial. Examples of such cooperative practices are to be found in Kenya. The group association is normally based on lineage according to the natural geographic environment in which the members of the group are born. This is usually based on clan or people who live within the same village. It can be stated with fair amount of certainty that the   traditional forms of cooperation do generally speaking, form the basis for the establishment of modern cooperative organizations. There is for instance in Luo, Saga whereby a group of people do ploughing, weeding or harvest for each member of the group in turn. In Kwath, members of the group look after their cattle together for three or more days consecutively, in turn. In Kikuyu there is what is called ngwatio (Mwethya in Kamba) whereby members of the group get together to build houses for themselves, each member of the group breinging what is required for the construction e.g. grass and poles. When the first house is completed then the members start on the next one. In Kisii, there is what is called obituary wherby men go on a job hunting exercise, and when they kill an animal, they will either divide it or take it home (village) where it mis cooked and eaten communally by all the villagers. Among the Kalenjin there is the practice of Kokwet wherby a group of people   would go out to harvest or weed the garden of their members in turn. The Kalenjin also have Loget whereby the men   go in a joint   effort to kill animals for food. According to Ouma(1980), practically all the ethnic groups in this country, whether small or big, has since time immemorial practiced mutual association in order to satisfy their needs socially, economically or otherwise. It is also necessary to point out that in the traditional forms of cooperatives, in contrast to the modern cooperatives, members had a great sense of commitment and belonging.. They had mutual trust and   were voluntarily involved in their activities and affairs.. It is of course not possible and it may not be expected that with the development of cosmopolitan populations consisting of different ethnic groups and tribes that members can still hold   together without some form of regulations. Hence the necessity to resort to legal reinforcement and education in order to develop efficient cooperative organizations. Although these associations of group effort could be deemed self help which is infect a for of cooperative , it is nevertheless true to say that the modern cooperative movement, born in Kenya during the beginning of twentieth century owed much of the cooperative idea to these earlier practices. It is also true that the modern cooperative associations in this country took a different approach and   mainly because of expediency. Its founders the British settlers- merely wanted to use it as a cheap means of business for easy profit making. They never spontaneously involved the indigenous people who already were familiar with cooperative effort. The early settlers were beset by very many problems as regards their agricultural activities. For instance prices for Agricultural products were very low, transport of the agricultural inputs and outputs to the markets by each individual settler were classical nightmares. Therefore this new system of farming with its large scale production caused the needs for associations by the few European farmers who undoubtedly had conceived the cooperative idea from the British cooperative movement back home. It will of course be recalled that the formal and successful cooperative organisations started in Britain in 1844. In 1908, they resolved to join together at a place called Lumbwa and formed Lumbwa cooperative Society Ltd. Although not registered as such under any cooperative Societies Act, it is deemed to be one of the modern cooperatives in Kenya. The main objective was to purchase merchandise; i.e. fertilizers, chemical seeds, and other agricultural inputs through collective effort, and to market their produce collectively thus taking advantage of the economy of scale. It would appear quite clear at this point that cooperatives in Kenya did not start as a poor mans defensive weapon against the exploitation by the middlemen, as it had started in Europe and elsewhere. It was on the contrary an easier means to enable the white settlers to receive high returns from their agricultural produce. Thus it was rather an economic necessity for the well to do and not the ordinary man with little or no means at all. It will be remembered that during this time, there was no cooperative societies ordinance to regulate and to assist the management of these cooperative efforts in Kenya. It is also not clear whether or   not Lumbwa Cooperative society ltd was registered even under the companies Act, otherwise calling it a co-operative society was misleading. However one thing remains certain, and that is that the settlers wanted to maximize their profits by trading under the pretext of a co-operative organisation, thereby enjoying its privileges. According to Ouma (1980) many self help groups, most of which were very small and un-economic, were started all over the country. But these were not economically viable and consequently had to be amalgamated into larger economic units. These were for instance Kenya farmers association (co-operatives), Kenya planters co-operative union, Kenya cooperative creameries and Horticultural cooperative union. It is a fact that these institutions formed the backbone and the base for formal cooperative movement in this country. These initial cooperative ventures in Kenya were unfortunately not quite in the spirit of the Rochdale Pioneer Cooperative Society. They never for example, observed the principle of membership, for no African could participate in it until later. The need to form formal cooperative organisations arose when some African peasant farmers realized that they were being exploited, especially by the Asian traders who were paying very low prices for their agricultural produce. As early as in the 1930s there were attempts to form cooperatives by the indigenous people of Kenya, in spite of lack of proper guidance. Of these early attempts two examples can be mentioned here, The Taita vegetable company and the Kisii coffee Growers cooperative. The farmers had 239 members and bought 3 lorries at the cost of $1170 out of the profits made from the operations. The group was producing, grading, transporting and selling on the mombasa market over 900,000Lbs of vegetables a year and the growers received over $4,500 out of a gross selling price of $ 6300. This was indeed too substantial an enterprise to be left without a legal basis. It was later registered as cooperative society. The Kisii coffee growers Association which was able to raise from the sale of its coffee a sum of $2470 of which   $1240 was paid out to the 251 members who had cultivated only 159 acres, but had already accumulated a surplus of $1065. In 1994, the British Colonial Office in London appointed Mr. W.K.H Campbell to come to investigate the possibilities of African participation in the cooperative organisations. He carried out his investigations by touring and visiting many towns and districts in the republic of Kenya and talking to the people. After all his investigations Mr. Campbell submitted his recommendations that subject to availability of capable staff attempts to organise cooperatives were worth while. It was also during this time that the first African Mr. Eliud Mathu was nominated to the legislative assembly, as the Kenya parliament was called then. He demanded in parliament and such people as Ex chief Koinange from outside, that the Government should come out openly to encourage African participation in the cooperative movement. It was as a result of Campbells recommendation that the cooperative societies (Registration) Amendment, Ordinance of 1932 was repealed and the cooperative societies Ordinance of 1945 was enacted under Cap. 287. It was as a result of this new ordinance that the department of cooperatives was created, although it was placed under different ministries at various times. Consequent to the establishment of the department, a registrar ( now called commissioner for cooperative Development) was appointed and together with his staff was responsible for registration and promotion of cooperative societies in the country. The 1945 cooperative societies ordinance further gave the registrar certain powers over cooperative societies, for example refusal to register a cooperative society, cancellation of certificate of registration, to audit societys books of accounts, authority to inspect books of society, authority to settle disputes in cooperat Effect of Business and Management on SACCOs Effect of Business and Management on SACCOs The background gives a brief history of the savings and credit cooperative societies, highlights its importance to the society and touches on the problems that have influenced its performance of its roles and finally on the possible solutions or causes of actions. This preambles the statement of the problem, the purpose, significance, scope and limitations of the study together with the research questions. 1.2 BACKGROUND OF THE STUDY One of the basic principles of Cooperative Savings and Credit Movement is the belief in co-operation and mutual self help for the uplifting of members standards of living. Kussco(2006). Members with a common bond join hands to form those quasi-banks institutions. With finances mobilized through such joint efforts the savings and credit society members build up the capital which they can use through local arrangements to finance their own social as well as economic development. The traditional form of cooperation involved working together on farms, hunting and gathering. All people have basic needs of food, shelter, security and belonging. People would invite neighbors to come and give a hand. Also people did not have money and resources, which enables individuals to employ people or machinery to do the work for them. In any community cooperation usually exists in the form of associations of people who come together as a group driven by their social and economic needs in order to cope with their problems and improve their conditions of living MOCD (2006) According to Odepo and Nyawinda (2004) , savings and credit cooperatives societies (commonly referred to as SACCOs), accept monthly payments for shares from which, members may borrow an amount equivalent to two or three times their own savings if they can get other members to guarantee them. They say that growth in SACCOs in the last twenty years has been spectacular. According to statistics from Kenya Union Of Savings and Credit Cooperative societies   (KUSCCO), the number of SACCOs rose from 630 in 1978 to 3,870 by the end of October 2002 while savings and share capital rose from Kshs. 375 million   in 1978 to Kshs. 80billion by 2003. Credit outreach similarly recorded significantly, having risen from 357 million in 1978 to kshs. 70 billion by 2003. Saccos active members numbered over 1.5 million by 2002 having risen from 378,500 members in 1978. Their rapid growth indicate that they have filled a need which had not been made by the financial institutions. Of the Kshs. 110 bill ion in the current share capital and deposits held by cooperatives, the statistics show that Kshs. 90 billion has been lent out to customers. However, the recent statistics from the ministry of cooperative development and marketing shows the position as below The internal management principles need to be enforced strongly to improve efficiency of collections, and even perhaps consider insuring the loans in case of demise of member loaned. The Sacco movement has the capacity to propel the economic lives of the citizens if indeed it is well managed. Its principles of democratic management, voluntary membership and common bond give it the base to take its members to new heights. The movement has been a boon for this country and many people would not be where they are now were it not for the harvests of the opportunities sowed in the garden of the movement. It mobilizes savings and finance and penetrates to areas not valued by other financial institutions, while serving special needs of members. The prospects for the industry are so huge. By identifying the fact that the easiest source of funding is the locally mobilized savings, the saccos should come up with innovative ideas to encourage the members of the common bond to save, as a first step. Other sources of funds like the cooperative bank, which all the saccos have a stake in, should be considered exhaustively. Besides they should think outside the box and get organi zations willing to empower members economically by allowing loans at a rate less than what saccos offer to its members. The saccos umbrella body- Kussco- has a fund to assist the member saccos when they are in need of the funds   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   ( www.kusco.com) Saccos face numerous challenges that hinder the exploitation of their full potential. Mudibo(2005) raised concerns on the calibre of leaders who run saccos noting that since these are voluntary organizations, members can elect anybody they like, who may not necessarily have the skills to run a sacco. He suggested that before a member is elected, he should have certain number of shares so that he has something to loose if he mismanages the sacco. Non remittance and delayed remittance of cooperative dues by employers has led to inconveniences and loss of income by the societies. New rules have however provided stiff penalties for errant employers. Members are also at risk due to HIV/AIDS and ways to attract new members are required. Ngumo (2005), in his article the cooperative movement in Kenya; the eagle that wont fly Nairobi, Kenya institute of management raises several unsettled issues affecting the saccos. First the government should decide on whether to control or facilitate the cooperatives. Cooperative roles should be re-emphasized. One member one vote should be questioned. Instead he suggests the policy of one share one vote. Still, ownership and control should be de-linked for good corporate governance. Then business strategies need further scrutiny before implementation. He concludes that it will be sad for Kenyans to compose a eulogy for the movement after all this time. He said; We cannot milk a cow, refuse to feed it, cry that it was wonderful cow and blame God for its demise. According to National Micro and Small Enterprise (MSE) Baseline Survey (1999/2000), Kenya has a relatively well developed banking and formal financial sector. This consists of the Central Bank, 43 commercial banks, 16 non-bank financial institutions, 2 mortgage finance companies, 4 building societies , 8 developed financial institutions about 3870 cooperative savings and credit societies, 38 insurance companies, the Nairobi stock exchange and venture capital companies. The survey further indicates that nearly 89.6% of MSEs had never received credit and other financial services. Table 1.2 Sources of credit   to MSEs in Kenya 2000 Source: National MSE Baseline survey 1999/2000 (CBS, K-rep and ICEG) The unserved credit needs portrayed by the statistics in the table 1.2 in the background section above signifies a wealth of opportunities untapped by all the financial institutions. The proof of the existence of market implies that a lot needs to be done to raise what it takes to serve a market. The most basic need is the finance to lend in a discipline way. Voluntary savings from members is therefore imperative. Saccos abilities to improve their members wealth is determined by a number of factors, among them is the funding levels due to members marginal propensity to save, contributions; remittance by the employers, legal and regulatory framework, internal management principles and practices (e.g customer service, marketing, dividend / interest payment etc) amongst other factors. These factors level of influence on saccos ability to perform captured the attention of the researcher. It was the intention of the researcher to examine them and possibly recommend on the best way to miti gate the underlying challenges and take advantage of the available opportunities by exploiting existing strengths. Voluntary deposits / savings as a source of commercial finance for micro credit institution have generated a lot of interest and debate in recent years. Locally mobilized voluntary savings is potentially the largest and the most immediately available source of finance for some micro credit institutions, most of all the saccos. Bearing this in mind, one is left to wonder what is hindering the saccos from prosperity, given the access to its resources and the wealth of its opportunities. The purpose of this research is to broaden the discussion of what, when, why and how a sacco should use its resources, get the right framework, apply effective policies for improvement of the wealth of its members. Getting these elements right is a crucial part of meeting the demand for the unmet credit needs. The researcher will also seek to bridge the gap that exist between Saccos that have exemplary performance in their services to members and excellent returns and some others which barely afford to offer loans, leave alone dividends. According to Armstrong, performance is often defined in output terms the achievement of quantified objectives. But performance is a matter not only of what people achieve but how they achieve it. High performance result from appropriate behaviour, especially discretionary behaviour, and the effective use of the required knowledge, skills and competencies. 1.3 STATEMENT OF THE PROBLEM Quite a number of Saccos e.g TENA sacco, have a long string of pending loan applications from members SACCO star ( 2006) . Some saccos pay out little or no dividends/ interests on members savings. Some others still have a low loan multiplier and / or limited concurrent loans compared to some well performing counterparts e.g Stima Sacco, Sacco star,(2006)- which has even started ATM services for FOSA customers and manages to advance more that three times the members deposits, can give up to four concurrent loans without closing any applications for the year and gives loans almost immediately it is applied for by the member , (mwaura (2004). Among the major problems hindering this is the unavailability of much needed cash to lend, when it is required. This therefore causes a mismatch in the availability of funds and the demand for loans. Other reasons could be poor investment decisions or lack of investment opportunities or delayed cash flow from employers/ members among others. Rutherford (1999) wrote that funding these large sums of money is the main management problem. The only reliable and sustainable way is to build them from savings. Saving- making a choice not to consume- is thus the fundamental and unavoidable first step in money management, without which financial services cannot operate. The poor themselves recognize the need to build savings into lump sums and contrary to the popular belief, the poor want to save and try to save, and all poor people except those who are entirely outside the cash economy can save something, no matter how small, When poor people do not save, it is for luck of opportunity rather for lack of understanding or of will. Most of the saccos have succeeded in mobilization of savings from members. Inspite of this, still they have a huge backlog in terms of loans advanced to members (Sacco star, 2005). Furthermore, most of the saccos pay little dividends/interests on deposits or none at all, in-spite of trading with the deposits/savings. It was therefore the intention of the researcher to seek to establish the determinants of saccos capabilities to improve its members well being. 1.4 OBJECTIVES OF THE STUDY Main Objective The main purpose of this study was to investigate and refine our understanding of the major factors that determine the performance of saccos to enable them maximize their members wealth. Specific objective Specifically, the study sought: To find out the extend to which the nature of business/ check off system affects performance of SACCOs To establish the relationship between management practices and performance of SACCOs To examine the level of education and training of general members, committee members staff and their effects on performance of SACCOs To determine if long term investment affects performance of SACCOs 1.5 RESEARCH QUESTIONS To what extent does the nature of business/ check off system affect performance of SACCOs? Do management practices affect performance of SACCOs? Is education and training of general members, committee members staff a factor that affects the performance of SACCOs? Does long term investment affect the performance of SACCOs? 1.6 SIGNIFICANCE OF THE STUDY This study is aimed at developing an understanding on major factors determining the accessibility to funds to process and dispense all loan requisitions in time by saccos in Kenya. It is seeking to examine and underscore the salient principles that have a bearing in the success in similar or related areas of focus, and hence suggest ways and means of overcoming failure. The study is aimed at benefiting, among others, the management teams. These are the people entrusted by the members to take care of their interests in saccos. They will study to understand and improve on policy setting and implementation for overall sustainability of the sector. The entire sacco membership will also get enlightened. The members of the common bond will appreciate their role in sustaining their welfare through sacco as a vehicle. They will be more willing to take a center role instead of quiting when they feel their interests are not being taken care of by the people they entrusted them with. It will also benefit the sacco staff/secretariate; these are the people who get their daily bread from the sacco. They will understand their role in the growth of the organization, hence acting to secure their source of livelihood. It will also be of good use to the government department in charge of cooperatives. The report will bring to light issues requiring framework and only them can attend to for the overall sustainability of the sacco industry. Finally other researchers in this area will find this useful. They will get recommendations for further research from this study. The beneficiaries will have access to the information on the findings from the compiled report. The final report will be available in selected major libraries, organized groups, especially the respondents will get a copy of the report on the findings. 1.7 SCOPE OF THE STUDY This studys scope was the saccos based in Eldoret. The researcher selected a suitable sample from the population by purposive convenience sampling. According to the statistics from MOCD/M, there are about 10 such saccos within Eldoret town. About 40 % of the population (4 saccos) were covered by the study. The study targeted the members of the central management committee (CMC) in the selected SACCOs. CHAPTER TWO 2.0 LITERATURE REVIEW 2.1 Introduction to literature review This section contains literature that has been reviewed and continues to be reviewed relating to the problem. Literature review involves locating, reading and evaluating reports of previous studies, observations and opinions relating to the planned study. It therefore enables the researcher to know what has been done in the particular field of study, makes one aware of what has been made and what challenges remain, and gives suggestions on the variables and procedures that could be used. Literature review logically leads to objectives on the study. 2.2 Past studies in the area 2.2.1 Background information According to Mwaura (2005) sessional paper No. 4 of 1987 on renewed growth through the cooperative movement highlighted the significance of the movement in national development. By this time there were 3500 registered cooperatives with more than 2million members and an annual turnover greater than 6billion. The paper noted that one in every two Kenyans derived its livelihood from the cooperative either directly or indirectly. The cooperative movement in Kenya is reputed to be the most advanced in the African continent. The Kenya Nordic agreement of 1967led to the establishment of the Cooperative college of Kenya at Langata, which is the main training ground for both ministry staff and the movement employees. According to MOCD (2002) the first Savings and credit Cooperatives in Kenya were started in the sixties. The Government annual economic survey shows that as at December 2002 there were more than 2,400 active SACCOS with membership in excess of 1.5 million people. Share capital stood at Kshs. 65 billion while outstanding loans were Kshs. 59 billion.. The structure of the cooperative movement in Kenya comprises of four tiers. These include the primary societies, secondary cooperatives, tertiary cooperatives and nationwide cooperatives. The Kenya Federal of Cooperatives (KNFC) is the only apex society in the movement. It was formed with an objective of promoting, developing, guiding, assisting and upholding ideas of the cooperative principles. KNFC is the link between cooperatives in Kenya and the international cooperative alliance. Of special mention here is the African Confederation of Cooperative Savings and Credit Associations (ACCOSCA), which is registered under the Societies Act, Chapter 108 of the laws of Kenya. Its area of operation is Africa and the adjacent islands. Its head-quarters is in Nairobi. It has twenty five affiliated organizations. It is affiliated to the International Cooperative Alliance through its members in the world council of Credit Unions (WOCCU). According to the cooperative Societies Act (Cap 490), persons desirous of forming a cooperative society must fill the prescribed form from the commissioner for cooperatives. It requires that at least ten members will sign the form, though for savings and credit the commissioner has been asked for more people. The form requires that the society makes its by-laws. For ease of convenience the commissioner has prepared model by-laws for the cooperative societies. The societies are nevertheless free to change these or come up with their own by-laws. The by-laws must detail the following; the name of the society, objects of the society, purposes to which its funds may be applied, disposal of surplus funds, qualifications for membership and terms and conditions of admission of members. For savings and credit cooperatives, the following are also includes, the rate of interest, the maximum amount loan-able, extension, renewal and recovery of loans and the consequences of default in the repayment of any sums due. On receipt of the application form the office of the commissioner will register the cooperative society on the advice of the cooperative officer in charge of the area of operation. Chapter 490 provides that no companies registered under the companys Act or any un-incorporated body of persons shall become a member of a registered society except with the written permission of the commissioner. It also provides that no person can join more than one cooperative society with unlimited liability. A member may nevertheless be allowed to join two or more cooperatives with limited liability if the two are in different areas of operation. A cooperative society just like a company, may be registered with or without limited liability. The commissioner has power to refuse to register a cooperative society. Nevertheless, the refusal must be given to the applicants in writing. Applicants can appeal to the minister for cooperative developments and finally to the high court. The commissioner may register the cooperative either provisionally or fully. A provision registration is given where some requirements for registration have not been met. The applicants are given a period o f one year to satisfy all conditions. A provisionally registered cooperative society may act as a fully registered in all ways. Upon registration such a cooperative society is deemed to have been registered on the date of the provisional registration. Upon registration a society becomes a body of corporate. According to Ouma(1980), the term cooperative in its widest sense simply means working together. In this context cooperation is as old as mankind and exists wherever the human family is found. Indeed such cooperation exists among animals, insects, bees and ants. Thus cooperation generally means working together for a common purpose. Thus group effort through traditional form of cooperation may be traced in all communities of the world. However its narrow sense as a movement, it means an association of people whose purpose for group work yields good results not only for the members but to the community in general and even to the humanity at large. Cooperative is a business organization by profit, but rather the result of mutual association whose objective is equitable economic betterment of man and the society in which he lives. According to the MOCD, cooperatives are regulated by a set of principals. These principles were formulated by a group of people who lived in a village in England known as Rochdale, and they are therefore referred to as Rochdale pioneers. They formed the first successful cooperative society   in 1884. This society which was a consumer cooperative society was formed in 1844 when Britain was undergoing industrial revolution. As a result of the revolution, a lot of people lost their jobs in the factories as machines were introduced to replace them. In addition to this there was general lack of credit and supply of essential commodities like salt, sugar, flour and cooking fat. Businessmen also took advantage of this situation and started offering impure products at high prices. It is against this background that Rochdale Pioneers decided to draw up some sort of principles which would guide their operation as cooperative society.   These principles were intended for the regulation of cooperative society as indicated by the great stress on the sale of pure products and the sale of goods for cash only. It was therefore found necessary to formulate the principles for adoption by other types of cooperatives. The International Cooperative Alliance (ICA) Commission of 1966 adopted the following principles which are genuine for the running of a genuine cooperative society:- Open and voluntary membership, democratic administration (one man, one vote), limited interest on share capital, payments of dividends and bonuses to members, promotion of education and cooperation with other cooperatives at local national and international levels. According to Ouma (1980), the traditional cooperatives have been in existence in Kenya, as it has been elsewhere, from time immemorial. Examples of such cooperative practices are to be found in Kenya. The group association is normally based on lineage according to the natural geographic environment in which the members of the group are born. This is usually based on clan or people who live within the same village. It can be stated with fair amount of certainty that the   traditional forms of cooperation do generally speaking, form the basis for the establishment of modern cooperative organizations. There is for instance in Luo, Saga whereby a group of people do ploughing, weeding or harvest for each member of the group in turn. In Kwath, members of the group look after their cattle together for three or more days consecutively, in turn. In Kikuyu there is what is called ngwatio (Mwethya in Kamba) whereby members of the group get together to build houses for themselves, each member of the group breinging what is required for the construction e.g. grass and poles. When the first house is completed then the members start on the next one. In Kisii, there is what is called obituary wherby men go on a job hunting exercise, and when they kill an animal, they will either divide it or take it home (village) where it mis cooked and eaten communally by all the villagers. Among the Kalenjin there is the practice of Kokwet wherby a group of people   would go out to harvest or weed the garden of their members in turn. The Kalenjin also have Loget whereby the men   go in a joint   effort to kill animals for food. According to Ouma(1980), practically all the ethnic groups in this country, whether small or big, has since time immemorial practiced mutual association in order to satisfy their needs socially, economically or otherwise. It is also necessary to point out that in the traditional forms of cooperatives, in contrast to the modern cooperatives, members had a great sense of commitment and belonging.. They had mutual trust and   were voluntarily involved in their activities and affairs.. It is of course not possible and it may not be expected that with the development of cosmopolitan populations consisting of different ethnic groups and tribes that members can still hold   together without some form of regulations. Hence the necessity to resort to legal reinforcement and education in order to develop efficient cooperative organizations. Although these associations of group effort could be deemed self help which is infect a for of cooperative , it is nevertheless true to say that the modern cooperative movement, born in Kenya during the beginning of twentieth century owed much of the cooperative idea to these earlier practices. It is also true that the modern cooperative associations in this country took a different approach and   mainly because of expediency. Its founders the British settlers- merely wanted to use it as a cheap means of business for easy profit making. They never spontaneously involved the indigenous people who already were familiar with cooperative effort. The early settlers were beset by very many problems as regards their agricultural activities. For instance prices for Agricultural products were very low, transport of the agricultural inputs and outputs to the markets by each individual settler were classical nightmares. Therefore this new system of farming with its large scale production caused the needs for associations by the few European farmers who undoubtedly had conceived the cooperative idea from the British cooperative movement back home. It will of course be recalled that the formal and successful cooperative organisations started in Britain in 1844. In 1908, they resolved to join together at a place called Lumbwa and formed Lumbwa cooperative Society Ltd. Although not registered as such under any cooperative Societies Act, it is deemed to be one of the modern cooperatives in Kenya. The main objective was to purchase merchandise; i.e. fertilizers, chemical seeds, and other agricultural inputs through collective effort, and to market their produce collectively thus taking advantage of the economy of scale. It would appear quite clear at this point that cooperatives in Kenya did not start as a poor mans defensive weapon against the exploitation by the middlemen, as it had started in Europe and elsewhere. It was on the contrary an easier means to enable the white settlers to receive high returns from their agricultural produce. Thus it was rather an economic necessity for the well to do and not the ordinary man with little or no means at all. It will be remembered that during this time, there was no cooperative societies ordinance to regulate and to assist the management of these cooperative efforts in Kenya. It is also not clear whether or   not Lumbwa Cooperative society ltd was registered even under the companies Act, otherwise calling it a co-operative society was misleading. However one thing remains certain, and that is that the settlers wanted to maximize their profits by trading under the pretext of a co-operative organisation, thereby enjoying its privileges. According to Ouma (1980) many self help groups, most of which were very small and un-economic, were started all over the country. But these were not economically viable and consequently had to be amalgamated into larger economic units. These were for instance Kenya farmers association (co-operatives), Kenya planters co-operative union, Kenya cooperative creameries and Horticultural cooperative union. It is a fact that these institutions formed the backbone and the base for formal cooperative movement in this country. These initial cooperative ventures in Kenya were unfortunately not quite in the spirit of the Rochdale Pioneer Cooperative Society. They never for example, observed the principle of membership, for no African could participate in it until later. The need to form formal cooperative organisations arose when some African peasant farmers realized that they were being exploited, especially by the Asian traders who were paying very low prices for their agricultural produce. As early as in the 1930s there were attempts to form cooperatives by the indigenous people of Kenya, in spite of lack of proper guidance. Of these early attempts two examples can be mentioned here, The Taita vegetable company and the Kisii coffee Growers cooperative. The farmers had 239 members and bought 3 lorries at the cost of $1170 out of the profits made from the operations. The group was producing, grading, transporting and selling on the mombasa market over 900,000Lbs of vegetables a year and the growers received over $4,500 out of a gross selling price of $ 6300. This was indeed too substantial an enterprise to be left without a legal basis. It was later registered as cooperative society. The Kisii coffee growers Association which was able to raise from the sale of its coffee a sum of $2470 of which   $1240 was paid out to the 251 members who had cultivated only 159 acres, but had already accumulated a surplus of $1065. In 1994, the British Colonial Office in London appointed Mr. W.K.H Campbell to come to investigate the possibilities of African participation in the cooperative organisations. He carried out his investigations by touring and visiting many towns and districts in the republic of Kenya and talking to the people. After all his investigations Mr. Campbell submitted his recommendations that subject to availability of capable staff attempts to organise cooperatives were worth while. It was also during this time that the first African Mr. Eliud Mathu was nominated to the legislative assembly, as the Kenya parliament was called then. He demanded in parliament and such people as Ex chief Koinange from outside, that the Government should come out openly to encourage African participation in the cooperative movement. It was as a result of Campbells recommendation that the cooperative societies (Registration) Amendment, Ordinance of 1932 was repealed and the cooperative societies Ordinance of 1945 was enacted under Cap. 287. It was as a result of this new ordinance that the department of cooperatives was created, although it was placed under different ministries at various times. Consequent to the establishment of the department, a registrar ( now called commissioner for cooperative Development) was appointed and together with his staff was responsible for registration and promotion of cooperative societies in the country. The 1945 cooperative societies ordinance further gave the registrar certain powers over cooperative societies, for example refusal to register a cooperative society, cancellation of certificate of registration, to audit societys books of accounts, authority to inspect books of society, authority to settle disputes in cooperat

Tony Horwitz’s Confederates in the Attic, History, and Reconciliation :: Confederates Attic

Tony Horwitz’s Confederates in the Attic, History, and Reconciliation Long after the Civil War we are still fascinated by it. In some circles, the "War of Northern Agression" or the "Lost Cause" is thought of, discussed, brought to life daily. While every war has its fanbase, the Civil War has a special distinction for America. It was the war for the preservation of the Union in some classes, a violent and tyrranical putting-down of a justified rebellion in others. I have never been particularly interested in the war, or any war for that matter. I have also never been terribly entertained by professional sports or cowboy movies, either, so I blame my lack of enthusiasm for Civil War lore and history more on my general lack of manliness rather than any fault of the war’s. It was obviously a very moving conflict. When I moved from Illinois to Arkansas and entered the eighth grade, I discovered my new school was approximately a year behind my old school in most subjects. I spent an additional nine months firming up my knowledge of "Earth Science," and relearning American History. For the most part, the entire academic year was simply a refresher – we even used some of the same textbooks I had used in the seventh gade. It was the same, that is, until we got to the Civil War. In Illinois the war was portrayed in fairly objective terms, something like this: "In the Civil War the North and South fought against each other. The South wanted to secede from the union, and the North wanted to keep the US together, oh and free the slaves. Illinois was part of the North." The instruction wasn’t necessarily complete or elevated, but I never felt like I was personally involved in the war. However, in Arkansas, in the South, I received an education much more like this: "During the Civil War, w e fought against the North. They didn’t want to let us secede. We wanted to, and would have, but we lost. They freed the slaves." Even at 13 I understood there was something very different about the way that people in the North and in the South view the war. Many writers, poets, and critics have pronounced that part of what makes the South so southern is the fact that it builds itself on its past. It cannot let go of the past. Tony Horwitz’s Confederates in the Attic, History, and Reconciliation :: Confederates Attic Tony Horwitz’s Confederates in the Attic, History, and Reconciliation Long after the Civil War we are still fascinated by it. In some circles, the "War of Northern Agression" or the "Lost Cause" is thought of, discussed, brought to life daily. While every war has its fanbase, the Civil War has a special distinction for America. It was the war for the preservation of the Union in some classes, a violent and tyrranical putting-down of a justified rebellion in others. I have never been particularly interested in the war, or any war for that matter. I have also never been terribly entertained by professional sports or cowboy movies, either, so I blame my lack of enthusiasm for Civil War lore and history more on my general lack of manliness rather than any fault of the war’s. It was obviously a very moving conflict. When I moved from Illinois to Arkansas and entered the eighth grade, I discovered my new school was approximately a year behind my old school in most subjects. I spent an additional nine months firming up my knowledge of "Earth Science," and relearning American History. For the most part, the entire academic year was simply a refresher – we even used some of the same textbooks I had used in the seventh gade. It was the same, that is, until we got to the Civil War. In Illinois the war was portrayed in fairly objective terms, something like this: "In the Civil War the North and South fought against each other. The South wanted to secede from the union, and the North wanted to keep the US together, oh and free the slaves. Illinois was part of the North." The instruction wasn’t necessarily complete or elevated, but I never felt like I was personally involved in the war. However, in Arkansas, in the South, I received an education much more like this: "During the Civil War, w e fought against the North. They didn’t want to let us secede. We wanted to, and would have, but we lost. They freed the slaves." Even at 13 I understood there was something very different about the way that people in the North and in the South view the war. Many writers, poets, and critics have pronounced that part of what makes the South so southern is the fact that it builds itself on its past. It cannot let go of the past.

Comparing the Quest for Self in Jane Eyre and Villete Essay -- compari

Quest for Self in Jane Eyre and Villete      Ã‚   "Why is Villette so disagreeable? Because the writer's mind contains nothing but hunger, rebellion and rage." Matthew Arnold, 1853.    Matthew Arnold was certainly forthcoming about the defects of both Charlotte Bronte's   mind and of her novel. Indeed he was not alone in his reaction to her; Anne   Mozley in The Christian Remembrancer ;in April 1853 wrote in reaction to   Bronte's other great work of "rebellion", Jane Eyre, that she had to make   "a protest against the outrages on decorum, the moral perversity, the   toleration, nay, indifference to vice which deform her picture of a   desolate woman" (my italics). Mozley even went far enough to label Jane Eyre a "dangerous book", a sentiment which Arnold's comments show that he shared.   Yes both Villette and Jane Eyre are pervaded by "hunger, rebellion   and rage" but it is this very factor which allows Bronte's protagonists to   explore their own identities in, crucially, their own terms.    That both Jane Eyre and Villette are first person narratives is highly   important. Unlike Catherine Earnshaw, Maggie Tulliver and Isabel Archer, Lucy   Snowe and Jane Eyre are able to define their own stories, and subsequently, to   define themselves. As Tony Tanner stated, Jane's "narrative act is not so much   one of retrieval as of establishing and maintaining her identity" and this can   easily be extended to Lucy. Indeed in Villette the importance of language   to proclaim identity, and therefore power, is demonstrated by Lucy's inability   to speak French when she arrives in Villette " I could say nothing whatever". Of course the role of teaching Lucy to speak French falls to M. Paul  Ã‚   demonstrating the masc... ...ion and rage.    BBIBLIOGRAPHY The Bronte's: The Critical Heritage, ed. Miriam Allott (1974).    "Person, Narrative and Identity in Wuthering Heights and Jane Eyre", Tony Tanner   in Teaching the Text ed. S Kappeler.    "Jane Eyre's Interior Design", Karen Chase in Jane Eyre (New Casebook), ed.   Heather Glenn.    "Introduction" to Villette (Penguin,1979), Tony Tanner.    "The Buried Life of Lucy Snowe" and "A Dialogue of Self and Soul: Plain Jane's Progress" in The Mad Woman in the Attic, Sandra M. Gilbert and Susan Gubar (2000).    "Charlotte Bronte as a 'Freak Genius'", David Cecil in Charlotte Bronte: Jane Eyreand Villette (A Casebook Series) ed. Miriam Allot.    "Three Women's Texts and a Critique of Imperialism", Gayatri Chakravorty Spivak in The Feminist Reader ed. Catherine Belsey and Jane Moore (1997).

Stem Cell Research - Genetically Unstable Stem Cells Essay -- Genetic

   A new study of problems in cloning suggests that embryonic stem cells are "surprisingly genetically unstable" in mice and perhaps in humans as well. This "may complicate efforts to turn the cells into cures," and interfere with efforts to produce all-purpose cell lines that could reliably become tissue of any desired type. "You may have to establish hundreds of lines to get the few you'd want to have," Dr. John Gearhart of Johns Hopkins University now says. Establishing hundreds of these cell lines could require destroying many thousands of human embryos, and replenishing them with thousands more when the original cell lines become too unstable for further use. Perhaps most troubling is the news that these researchers deleted from their final paper a reference to this problem, believing that any public acknowledgment of such setbacks has become too "politically sensitive." We can only wonder how much of this kind of information is being withheld without detection. We have reache d a stage in this discussion where, on the side supporting destructive embryo research, science is becoming subservient to politics.    Most Christians have grave concerns on this critically important issue of embryonic stem cell research. In our view, conducting research that relies on deliberate destruction of human embryos for their stem cells is illegal, immoral and unnecessary.    It is illegal because it violates an appropriations rider (the Dickey amendment) passed every year since 1995 by Congress. That provision forbids funding "research in which" human embryos (whether initially created for research purposes or not) are harmed or destroyed outside the womb.(1) National Institutes of Health guidelines approved by the Clinton Admini... ...ency (SCID)-X1 Disease," 288 Science 669-72 (28 April 2000).    16. K. Foss, "Paraplegic regains movement after cell procedure," The Globe and Mail (Toronto), June 15, 2001 at A1.    17. E. Ryan et al., "Glycemic Outcome Post Islet Transplantation," Abstract #33-LB, Annual Meeting of the American Diabetes Association, June 24, 2001. See: http://38.204.37.95/am01/AnnualMeeting/Abstracts/NumberResults.asp?idAbs=33-LB.    18. M. McCullough, "Islet transplants offer hope that diabetes can be cured," Philadelphia Inquirer, June 22, 2001 at A1.    19. D. Woodbury et al., "Adult Rat and Human Bone Marrow Stromal Cells Differentiate Into Neurons," 61 J. of Neuroscience Research 364-70 (2000) at 364 (emphasis added).    20. D. Prockop, "Stem Cell Research Has Only Just Begun" (Letter), 293 Science 211-2 (13 July 2001)(citations omitted).