Thorpe Parks history Essay Example for Free

Thorpe Parks history Essay In 1970, the site was an active gravel pit owned by Ready Mix Concrete and in 1971 work was granted for the construction of a 500 acre Water Park. Thunder River and its surrounding area were developed in 1987, and 1988 saw the opening of the 630 seat Palladium Theatre. In 1989 Canada Creek, incorporating Loggers Leap, was developed. Since 1991 many attractions have been added. In 1996, X:/No Way Out, the worlds first pitch dark, backward roller coaster was introduced and for two years running, in 1996 and 1997, Thorpe Park was voted the most Parent-Friendly leisure in the UK. Pearsons, who owned The Tussauds Group, bought Thorpe Park in 1998. On 19th October 1998 it was announced that Pearson had sold the Tussauds Group to Charterhouse Development Capital for i 352m. Europes first 4D Cinema experience, Pirates 4D was opened in 1999 and in 2000, Europes highest water ride, Tidal Wave was added to the excitement of Thorpe Park. The Tussauds Group Vision and Mission Vision: Entertaining People. Mission: To deliver real growth in profits to take Europes leading entertainment world-wide. The Marketing Department are a small team who work across both Thorpe Park and Chessington World of Adventures. It is the overall responsibility of the Marketing dept to ensure that the brand identities of the two Parks are maintained in all communication both on and off the Parks. They do this through first identifying the brand identity, target market, and visual representation of the brand, ie the logo. For Thorpe Park the target market is families with children over 12. Each year the marketing department will put a marketing plan together which covers the following areas: Product. Although almost with out exception a new attraction is launched each year, and the main launch communication will focus on that, general communication about the rest of the Park is required. Theme Parks provide a whole day out for the family and its not just bout the rides. The other attractions, places to eat, games, photography, the atmosphere all play an important part in delivering a great day out. Pricing. There is a complex pricing structure for the Park which looks to maximise the revenue the Park can achieve with its targeted number of visitors. Marketing will review the pricing each year and along with the finance department look at how the budgeted targets can be achieved through the pricing matrix. Advanced sales are important to the business so tickets booked in advance are discounted, also those booked via the Internet are further discounted as this is a more efficient way for us to produce the tickets. Advanced tickets reduce the queues at admissions as visitors already have their tickets and can go straight in to the Park. Promotion. Promotion of the Park happens via a number of different communication channels. Advertising. This is generally broken down into two areas; the creative production of the advert and then the choice of where to place that advert, TV, Radio, Press etc. For the year 2002 communication for Thorpe Park is the launch of the Worlds First 10 Looping Coaster, Colossus, targeting a young teen market. New adverts will be created for both TV and radio use. Promotions. Promotions are very import in incentivising visitors to come to the Park. The incentive is generally either a Buy One get One Free mechanic or a discount of the full adult or child price. Thorpe Park runs promotions on its own or in conjunction with the Tussauds Group, ie Tesco. Promotions are often run with a wide variety of retail and media partners, newspaper, or solus via a direct mail campaign to surrounding homes. Public Relations. This area is all about getting positive exposure in the media, TV, Radio and Press. This is generally achieved through issuing Press Releases and conducting interviews with journalists. Measuring the Success. Throughout the year, how the Park is doing against its financial targets is constantly reviewed, but in addition Marketing conducts ongoing research in to how the Park is performing on a daily basis. Questionnaires are handed out to visitors as they leave asking them to rank the rides experiences, eating places, how friendly and helpful the staff were, etc. This provides information on where things may be going wrong and how to put them right. New Media is a crucial area for involvement now and in the future. In addition to maintaining its own site: www. thorpepark. com, the Marketing department looks to exploit other opportunities for advertising, promotions and PR on other sites. Use of agencies. Thorpe Park uses a wide variety of agencies as they bring different areas of expertise and experience to the Park. We use and advertising agency to create the TV, Radio ads etc and also for all the design work for the Gate Map. The space for the TV, Radio slots etc is purchased by a media buying agency. We also use a Sales Promotion agency, PR agency and Internet design agencies. Some of these are different agencies to those used for Chessington World of Adventures. Corporate Hospitality makes it possible for businesses to entertain their guests at Thorpe Park. Thousands of corporate guests can be catered for at any one time, or even hire the whole Park for an evening. Education. An establishment like Thorpe Park offers the opportunity for students studying the leisure industry, business or animals to visit the Park and find out more about their subject. For this reason, it is possible for groups to incorporate an educational talk into their visit.

Fashsion Statement :: essays research papers

Fashion Statement There are many reasons why we choose to wear a particular article or style of clothing. Many of us consider our choice in clothing as an extension of our identity; while many others pick items from their wardrobe that reflect their current mood. There are also many times when we choose to dress a certain way in anticipation of being in a particular social setting. When someone decides what to wear they need to keep in mind what messages will they be sending to the gazing eyes. Sometimes we forget or don’t realize, that we are sending both true and false message through our clothes. I am a calm, casual, musician however my clothes do not reflect this. To start, I am wearing skateboard shoes, fat toe-end and fat tongue, rather bulky. They are black except for the gum sole, and the logo on the tongue is golden. The golden logo is hidden by the cuffs of my black, neatly creased Dickies work pants. My pants fit nicely, not tight and not baggy. Holding my pants up is a black casual clamp belt, about an inch tall, with a small rectangular silver buckle. My belt is occasionally being revealed by my un-tucked, youth large, blue, button-up, collared t-shirt. The shirt is a basic plaid design, with a thin vertical line for every thick horizontal line and visa versa. Resting on parts of my shoulders and back is my surfer, guitarist length (about 8 inches long), brown, wavy hair parted down the center. Lastly, sitting backwards on my head, are my sleek, solid black Spy sunglasses. Spy is a company that makes sunglasses for the surfer, coastal alike. These clothes were not acquired in any special way, nothing more or less ordinary than anyone else. I tend to shop at stores that sell surf and skate brand clothing. These brands include Billabong, Quicksilver, Split, Osiris, Dickies, and many similar brands. Stores that sell these brands are found almost everywhere, but I tend to spend most of money at Tilly’s and Chick’s. When others decide what outfit to wear, they are making a statement on how they feel or how they would like to feel. For example, they may wear clothes that make them feel sexy, strong, smart, professional, relaxed, or powerful. The ways I feel in my clothes are relaxed and casual. I don’t feel either over or under dressed for any particular occasion.

Lifting the corporate Essay

The international company which called Buildco Ltd establishes a new company in Australia which is a wholly owned subsidiary of Buildco. The purpose of incorporating the subsidiary is to solve the problem of sourcing debt finance in the international marketplace. However, the property development project which is undertaken by Buildco and funded by Asset Pty Ltd is financially unviable. Consequently, the Buildco expects that the Asset could write-off the loan as a bad debt and claim a tax deduction. Nonetheless, the Commissioner of Tax disallows the deduction for the bad debt because of the significant degree in the overlap in the management of both companies and the very large degree of control over the directors. In order to determine that whether the bad debt can be deducted, the relationship between Asset Pty Ltd and Buildco Ltd should be analyzed. Case analysis * Statute law According to the statute law, it is likely that the subsidiary company (Asset Pty Ltd) would not write-off the loan to the parent company (Buildco Ltd) as a debt and could not claim a tax deduction for that debt. After lifting the corporation veil by making the holding company liable for the debts of its subsidiary where there are reasonable grounds for suspecting than the subsidiary is insolvent at the time of incurring the debt. In this present case, due to the failed project which is funded by the Asset Pty Ltd, the Buildco Ltd is financially unviable which lead to the company has to close down the business. As a result, it may be not feasible to solve the dispute through statute law. * Case law Type of companies Companies operate in both private and public sectors of the economy and come in all sizes, large and small. Doubtlessly, the Buildco Ltd is a public company, and the later set up company which called Asset Ltd Pty is a proprietary. Incorporation Corporation group It is more likely to be a number of companies which are associated by common or interlocking shareholdings, allied to unified control or capacity to control. We all know that in many respects a group of companies are treated together for the purpose of general accounts, balance sheet and profit and loss account. They are treated as one concern. This is especially the case when a parent company owns all the shares of the subsidiary – so much so that it can control every movement of the subsidiaries. These subsidiaries are bound hand and foot and must do just what the parent company says. However, it is not absolute that whether treat the parent company and a wholly owned subsidiary as a continuum. In special circumstance, the parent company and subsidiary company could not be treated as an integral structure. In the course of Buildco’s strategic plan, the corporation group is built to solve the problem of souring debt finance. Indeed, the corporation group not only solve s the problem in securing credit, but also success to avoid the influence of the international financial crisis. That is, corporate group is a modern enterprise organization form which uses the Buildco Ltd (parent company) as the core of economic organization. Parent and subsidiary companies Besides, it is prevail that a large numbers of businesses are conducted by companies which share common directors. Such as the Buildco Ltd in the case have its subsidiaries in more than 10 countries. Subsidiary company is half of the shares are controlled by the parent company. That is to say, most of subsidiary’s property was controlled by the parent company, but the subsidiary and the parent are still separate legal entities, with all its assets shall undertake limited liability for its debts, the parent company is based on its capital contribution or subsidiary to the holdings of shares in the limit of responsibility. As to the Buildco Ltd is the holding company which controls the subsidiary’s (Asset Ltd Pty) board of the director and also is in position to cast or control maximum votes at subsidiary’s general meeting. Agency relationship The agency relationship between a company and its controller is the ground most frequently argued. Indeed, agency relationship between the parent company and the subsidiary must be consistent with the following six questions: 1. Were the profits treated as the profits of the parent? Yes. In this view, the subsidiaries company (Asset Pty Ltd) will be treat all of the profits as a dividend to the parent company (Buildco Ltd). 2. Were the persons conducting the business appointed by the parent? Yes. In this present case, all decision are decided by the parent company (Buildco Ltd) and then implemented by the subsidiaries company (Asset Pty Ltd). 3. Was the parent the head and brain of the trading venture? Yes. The three directors of the subsidiaries company (Asset Pty Ltd) come from the board of parent company (Buildco Ltd). In other words, the directors should simultaneously manage the two companies. Namely, the directors overlap in management of both companies. 4. Did the parent gover n the venture; decide what should be done and what capital should be used? Yes. During the board meeting, the directors of the parent company (Buildco Ltd) passed a resolution that allowed the subsidiaries company (Asset Pty Ltd) to implement a strategic. 5. Did the parent make the profits by its skill and direction? Yes. It is conspicuous to discover that the parent company (Buildco Ltd) was established in 1950, and become the one of the world’s leading international building companies via its own skills. 6. Was the parent in effectual and constant control? Yes. The case shows that the CEO of the parent company (Buildco Ltd) has been helm the company for nearly 20 years. In addition, the parent company (Buildco Ltd) made a large profit and strict policy. In summary, there is an agency relationship between the parent company (Buildco Ltd) and the subsidiaries company (Asset Pty Ltd). That is to say, they can be treated as a single legal entity, so the subsidiary company (Asset Pty Ltd) would not write-off the loan to the parent company (Buildco Ltd) as a debt and could not claim a tax deduction for that debt. Instead, there is a similar case which is called Commissioner of Taxation v BHP Billiton Finance Ltd (2010), the court held that the bad debt can be deducted due to the fact that the Commissioner’s submissions denying the separate legal existence of Finance Ltd. However, there are two differences between the two cases. Firstly, in the Commissioner of Taxation case, the reason of building the subsidiary company is not only solves the problem of sourcing debt finance, but also deals with the third parties. In contrast, the subsidiary company (Asset Pty Ltd) has no deal with other companies, except the parent company (Buildco Ltd). In addition, in the case of Commission, the BHP Billiton Finance Ltd makes use of the loan in both operational activity and new project, but the Asset Pty Ltd is only fund to the project of parent company. So these two case cannot be seen as the same. Corporate veil and veil-piercing Corporate veil The corporation veil can be trusted as a theoretical screen which descends on the company when it is descend and, ordinarily, prevents outsiders from peeping in to see who is in charge or control of the company. In other words, company as a legal person must be independently with all its capital contribution shall undertake liability for its legal actions and debts of the company’s shareholders is limited to its investors assume limited liability to the company. Lifting the corporate veil An examination of the Australia law concerning lifting the corporate veil on the basis of an implied agency reveals that control, even overwhelming control, of a company is not sufficient to create an implied agency between the company and the controller. Through lifting the veil of corporation, it reveals that each company within the company is responsible for its own debts. However, in this case, the corporation veil would not need to lift due to the fact that it not fits the requirements of piercing veil. Indeed, there is no sham, fraud, avoid tax, trade with enemy; avoid legal obligation, and puppet. Conclusion In conclusion, with reasons stated above, the subsidiary company (Asset Pty Ltd) would not write-off the loan to the parent company (Buildco Ltd) as a debt and could not claim a tax deduction for that debt. Bibliography 1. Harris J, Hargovan A and Adams M Australian Corporate Law, 3rd ed 2011 LexisNexis Butterworths. 2. Limited liability exception – the UK’s â€Å"lifting the veil of the Company†, < http://www.law-walker.net/detail.asp?id=4511>. 3. Judy Maguire and Anna Lenahan. (2006). AML — international comparisons and lessons. Financial Services Newsletter (newsletter), 2006:Volume 4 No 9. 4. Professor Sharon Christensen and Professor Bill. (2012). lifting the joint venture veil: liability of related entities for misleading conduct of agents engaged by joint venture partners. DuncanAustralian Property Law Bulletin (newsletter), 2012: Volume 26 No 8. 5. Ramsay I and Noakes D. (2001). Piercing the Corporation Veil in Australia. company and securities law journal, 2001: Volume 19 No 250. ——————————————– [ 1 ]. Australia Statute Law, s558v [ 2 ]. Walker v Wimborne (1976) 137. [ 3 ]. Limited liability exception – the UK’s â€Å"lifting the veil of the Company†, < http://www.law-walker.net/detail.asp?id=4511> [ 4 ]. Lonrho ltd. v. Shell Petroleum Co., Ltd. (1980). [ 5 ]. Salomon v Salomon & Co Ltd (1897) AC22. [ 6 ]. Australia Corporation Law, s46. [ 7 ]. Ramsay I and Noakes D, ‘piercing the Corporate Veil in Australia’ (2001) 19 Company and Securities Law Journal 250. [ 8 ]. Smith Stone & Knight Ltd v Birmingham Corp (1939) 4 ALL ER116. [ 9 ]. Smith stone &Knight Ltd v Briminghan Corp (1939) 4 All ER 116 [ 10 ]. Commissioner of Taxation v BHP Billiton Finance Ltd (2010) 182FCR [ 11 ]. Harris J, Hargovan A and Adams M Australian Corporate Law, 3rd ed 2011, LexisNexis Butterworths [182] [ 12 ]. Winland enterprises group inc. v Wex pharmaceuticals inc. (2012) HKCA 155. [ 13 ].

Too Many Children in Orphanages Throughout the World Essay

Throughout our world, hundreds upon thousands of children are kept in orphanages. These children, who have no home, no parents, and no siblings to play with, are kept in a place where all they have left is their childhood; and even that is taken away from them in these living hells. Most people would define the word orphanage as a public or private institution for the care and protection of children without parents. However, this definition is far from what orphanages actually are. Orphanages do not institute care and protection for the orphans, but instead abuse them and make their lives miserable. But this abuse does not only restrict to physical abuse; mental, emotional, and sexual abuses are also included in their daily lives. With†¦show more content†¦Natural disasters also play a major role in killing many people leaving their children as orphans. Wars like the Civil War or World War I also led to the opening of orphanages due to the deaths of thousands of people. Ov ertime the number of orphanages have increased. According to The China Children Welfare Policy Report of 2011, in 2010 the number of orphans in China had reached 712,000, which was about 24 percent higher than that of 2005, which were 574,000. This increase in orphans has also increased the number of deaths among children. To begin with, the abuse in orphanages of countries all around the world has increased in substantial amounts since orphanages were first built. Examples of some places that neglect and abuse orphans include Bulgaria, Cambodia, and Haiti. Bulgaria is among the poorest countries in Europe. Their living and sanitary conditions are beyond horrific, but their orphanages are even worse. Rosa Monckton published an account on the Mail Online of her visit at a Bulgarian orphanage. She says: â€Å"Standing in a room full of cots, reeking of urine and other rank, unidentifiable smells, I picked up the baby nearest to me. 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