The Great Pittsburgh and San Diego 2007 Fires Essay

The Great Pittsburgh and San Diego 2007 Fires - Essay Example The essay "The Great Pittsburgh and San Diego 2007 Fires" discusses the factors that led to the great Pittsburgh and San Diego 2007 fires that took place on April 10th at 12 o’clock and their consequences. The Great Fire of Pittsburgh took place on April 10th at 12 o’clock. It broke up in some frame buildings that were located to the Southeast of Ferry and Second Street in Pittsburgh. Two weeks prior to the fire break out, the weather was dry with high winds prevailing to a great extent. When the fire was discovered, the winds were blowing fresh from several points north of west. Within a short time, the fire flames had spread to the square. The wind’s velocity increased leading to more buildings catching fire. In a very short period, a third of the city was engulfed and consumed by the fire. The fire further extended to the Ferry side of Third Street extending further to Kensington town and destroyed it too. The district that was burned comprised of many busines ses and valuable factories. The loss amounted to approximately, $8,000,000. The growth and spread of the fire were caused by strong dry winds that were blowing in the town. As such, the dry weather conditions coupled with strong raging winds subsequently led to the spread of the fire to other buildings. Additionally, Pittsburgh at that time had uncontrolled/haphazard development. This resulted in a patchwork of homes and rich businesses. These wealthy people intermingled with other peasants who were adjacent, and who lived in wooden structures.

Micro economics Term Paper Example | Topics and Well Written Essays - 2250 words

Micro economics - Term Paper Example Aside from stocks and bonds, other investment instruments are mutual funds, stock options, and other financial derivative securities, which are briefly defined and described here. A stock is ownership of a corporation represented by shares that are a claim on the corporation’s earnings and assets (Downes, John & Goodman, Jordon Elliot, p. 556, Barron’s Educational Series). The price of a stock is the equivalent of the present value of all future dividends; it is also the present value of a dividend stream for the number of years it would have been held, plus the present value of the anticipated price of the stock after that time period (Block, Stanley B. & Hirt, Geoffrey A., p. 284, McGraw-Hill Irwin). Common stocks entitle the shareholder to received dividends in stocks and bonds, and to vote in the election of directors and other matters taken up at shareholder meetings or by proxy (Downes, John & Goodman, Jordon Elliot, p. 556, Barron’s Educational Series). The stock market is the general term referring to the organized trading of securities through the various exchanges and the over-the-counter market (Downes, John & Goodman, Jordon Elliot, p. 563, Barron’s Educational Series). It is likely that the role played by the market in gathering and disclosing information may be more important for large firms because their stocks are traded more often and are followed by many analysts (Demirguc-Kunt, Asli & Maksimovic, Vojislav, p. 49, Finance & Development). Small firms may not benefit as much from stock market development, at least initially, because their access may be limited by high fixed issuance costs (Demirguc-Kunt, Asli & Maksimovic, Vojislav, p. 49, Finance & Development). Even the stock of small firms that are listed on an exchange may not be traded as often as the stock of larger firms, since it