The 90s

Ella Baker, the Grassroots Civil Rights Organizer

Ella Baker was a tireless fighter for the social equality of African-Americans. Whether Baker was supporting local branches of the NAACP, working behind the scenes to establish the Southern Christian Leadership Conference (SCLC) with Martin Luther King Jr.,  or  mentoring college students through the Student Nonviolent Coordinating Committee (SNCC), she was always working to push the agenda of the Civil Rights Movement forward.   One of her most famous quotes encapsulates the meaning of her work as a professional grassroots organizer, This may only be a dream of mine, but I think it can be made real. Early Life and Education Born on December 13, 1903, in Norfolk, Va., Ella Jo Baker grew up listening to stories about her grandmothers experiences as a former slave. Bakers grandmother vividly described how slaves rebelled against their owners. These stories laid the foundation for Bakers desire to be a social activist.   Baker attended Shaw University. While attending Shaw University, she began challenging policies established by the school administration. This was Bakers first taste of activism. She graduated in 1927 as valedictorian.   New York City Following her college graduation, Baker moved to New York City. Baker joined the editorial staff of the American West Indian News and later the Negro National News. Baker became a member of the Young Negroes Cooperative League (YNCL). Writer George Schuyler established the YNCL. Baker would serve as the organizations national director, helping African-Americans build economic and political solidarity. Throughout the 1930s, Baker worked for the Workers Education Project, an agency under the Works Progress Administration (WPA). Baker taught classes concerning labor history, African history, and consumer education. She also dedicated her time to actively protesting against social injustices such as Italys invasion of Ethiopia and the Scottsboro Boys case in Alabama. Organizer of the Civil Rights Movement In 1940, Baker began working with local chapters of the NAACP. For fifteen years Baker served as a field secretary and later as director of branches. In 1955, Baker was influenced greatly by the Montgomery Bus Boycott and established In Friendship, an organization that raised funds to fight Jim Crow Laws. Two years later, Baker moved to Atlanta to help Martin Luther King Jr. organize the SCLC. Baker continued her focus on grassroots organizing by running Crusade for Citizenship, a voter registration campaign. By 1960, Baker was assisting young African-American college students in their growth as activists. Inspired by students from North Carolina A T who refused to get up from a Woolworth lunch counter, Baker returned to Shaw University in April 1960. Once at Shaw, Baker helped students participate in the sit-ins. Out of Bakers mentorship, SNCC was established. Partnering with members of the Congress of Racial Equality (CORE), SNCC helped organize the 1961 Freedom Rides. By 1964, with the assistance of Baker, SNCC and CORE organized Freedom Summer to register African-Americans to vote in Mississippi and also, to expose the racism existing in the state. Baker also helped establish  the Mississippi Freedom Democratic Party (MFDP). MFDP was a mixed raced organization that gave people not represented in the Mississippi Democratic Party an opportunity to have their voices heard. Although the MFDP was never given a chance to sit at the Democratic Convention, the work of this organization helped to revise a rule allowing women and people of color to sit as delegates at the Democratic Convention. Retirement and Death Up until her death in 1986, Baker remained an activist—fighting for social and political justice not only in the United States but the world.

Lex Cost of Capital Free Essays

Lex Service PLC— Cost of Capital In 1928 Lex Garages Limited, at the time of public incorporation, had single garage in London. After 60 years, Lex Service PLC became a leading company in automotive distribution and leasing in the United Kingdom. In late 1950, Lex obtained from Volvo Car Corporation the exclusive franchise to import and distribute Volvo cars in the United Kingdom that ended in1992 four years before the scheduled termination date. We will write a custom essay sample on Lex Cost of Capital or any similar topic only for you Order Now This news dropped the share price of Lexto 30%. In 1970s, Lex started to expand its business into other services like transportation andleasing and for temporarily in hotel management business. By the end of 1983, Lex was structured around two principal groups ¶ i-e Lex Automotive and Lex Electronics Worldwide. From 1991 to 1993, Lex sold its major electronic business to Arrow Electronics, Inc. With theseries of acquisitions by Lex, finally it entered in the profitable business by acquiring acontrolling interest in the U. K importership, Hyundai Car (U. K) in September 1993. Thisacquisition gave Lex management control of a three year rolling contract that Hyundai Car heldwith Hyundai Motor Company of Korea. In this case study, board meeting was scheduled in 1993 to review its cost of capital proceduresand to determine whether Lex Service PLC should use different hurdle rates for differentdivisions or should use cost of capital for the whole company. Lex Service PLC was concerned about its cost of capital in 1993 because from 1991 to 1993 Lexhad gone through many acquisitions and sales of assets that changed its capital structure in ahuge way. That change of capital structure included the sale of whole electronic division toArrow Electronice, Inc and acquisition of Hyundai Car (U. K). Moreover, they had cash toreinvest so Lex wanted to properly estimate its Cost of equity. Once new cost of capital is computed that will enable the firm to estimate its required rate of return on its investments. Ingeneral companies make use of CoC through discounted cash flow or share pricing method. To calculate cost of capital (equity), risk free rate and value of risk premium, calculations are asfollows:If Lex had no debt in its capital structure then the relationship between its levered equity betaand asset beta can be like: ? (asset) = E/V * ? (equity) And it also implies that interest and principal payments on the debt are fairly safe that makes the beta of debt to zero. If there is no debt then cost of capital will become the cost of equity. Moreover if Lex adds moderate amount of debt in its capital structure that means equity will become more risky and cost of equity will increase and so will the cost of capital. In order to fully evaluate future investment opportunities, Lex should single discount rate if the project is enough to represent the whole firm e-g in acquiring the very similar company. But Lexshould use multiple discount rates in evaluating the projects that replicates one of its divisions e-g investment in the automotive division should use the cost of capital of automotive division andsame goes for other divisions How to cite Lex Cost of Capital, Essay examples