Peter Eisenman Essay Example for Free

Peter Eisenman Essay Introduction * Peter Eisenman was born in 1932 in Newark, New Jersey. He studied architecture from 1951 to 1955 at Cornell University in Ithaca, New York, and later at Columbia University in New York City, and concluded his academic training in 1963 with a doctoral thesis on design theory. * He worked together with Charles Gwathmay, John Hejduk, Michael Graves and Richard Meier in the architects’ group  »The New York Five. At this time, Eisenman developed his principles for design theory in a number of key publications. * At the beginning of the 1980s, Eisenman established his own architectural practice in New York, and since that time has created a number of important and diverse structures. * A recurrent topic is his thesis about an architecture of memory, from which he derives the postulate of a place-oriented or  »textual « architecture, which affords the observer a unique experience, difficult to express adequately, of space and time. MEMORIAL OF MURDERED JEWS, BERLIN INTRODUCTION * The Memorial to the Murdered Jews of Europe, also known as the Holocaust Memorial, is a memorial in Berlin to the Jewish victims of the Holocaust. * The Berlin Holocaust memorial was the outcome of a process which extended over a period of 17 years, moving from a grass-roots initiative to a government resolution and eventually a multi-stage competition. * Peter Eisenman won the competition and construction of project started in April 2003. It was inaugurated on May 10’ 2005, sixty years after the end of World War II. CONCEPT * Generally, while experiencing a building a person walks through the building perceiving columns on the left and moving around and again there are columns on the right, so there can be a sort of conclusion about the building being symmetric, axial etc. So understanding of a buildings comes from being presence in the experience.But in the holocaust memorial, experiencing the building does not give you understanding of the monument. In this project, when we move, we do not learn anything, there is no specific path to follow, any point within the memorial is no different than any other point.The underlying idea behind the memorial was to reduce the meaning of experience because this relates to what happened in camps. The memorial intends to show the absence of meaning in the executions carried out in camps.The memorial is an analogy to experience of the camps but also an analogy to the idea of breaking down the relationship between experience and understanding. * Often referred to as a â€Å"field of stelae,† the memorial consists of 2711 concrete stelae (95 cm x 2.37 m), with heights varying from less than a meter to 4 meters. * The stelae are separated by a space equal to the width of an individual stele, or enough room for a single individual to pass through. * The memorial is traditional in the sense of using material such as concrete, which is a common means for the construction of memorials, but it is innovative in its form and design. * There is a quality of indeterminacy to the entire field, despite what appears to be a regularly spaced grid. Regularity is only perceived when standing on top of one of the lower pillars at the perimeter or in an aerial photograph. * Upon approaching the site, one might assume that the stelae are evenly spaced but the undulating ground surface defeats the sense of a grid, as does the actual experience of walking through the relatively confined spaces and the existence of varying views framed and obstructed by the stelae. * Eisenman relates this monument to a living memory rather than a sentimental memory as the holocaust cannot be remembered in the first, nostalgic mode, as its horror forever ruptured the link between nostalgia and memory. Remembering the Holocaust can, therefore, only be a living condition in which the past remains active in the present. * The space of the memorial is not overwhelming in scale, the instability of the ground and unpredictability of the heights of the stelae interact to frustrate understanding of the space. * One is further confused or disoriented by the narrow alleys which are not truly perceived as straight lines, due to the varying heights of the concrete slabs and the uneven ground plane. * Perhaps even more disorienting is the fact that there are no written cues or symbols of any sort. Immediately discounting the notion that one should â€Å"read† the pillars as tombstones is the absence of any language and any apparent â€Å"right† or â€Å"wrong† direction or ending point. INFORMATION CENTER * The Information Centre beneath the Field of Stelae documents the persecution and destruction of the Jews of Europe and the historical sites of the crimes. * The focus of the exhibition lies on the personalisation of the victims and on the geographical dimension of the Holocaust. * A major section of the information centre that supplements the memorial is dedicated to informing the visitor about authentic sites – even about the ones that do not exist any more for reasons of concealment during the Third Reich. * The information centre stresses the importance of authentic sites and encourages the visitation thereof. AUTHENTICITY AND PURPOSE OF MEMORIAL * During the painful debates about erecting such a memorial, a major aspect of criticism was the danger of authentic sites of the holocaust losing their importance. Thus, it is vital to distinguish the different roles of authentic sites from the artificially created monument. * The more specified function was read in the resolution by the German bundestag (a legislative body) of June 1999. â€Å"With the memorial we intend to honour the murdered victims, keep alive the memory of these inconceivable events in German history ,admonish all future generations never again to violate human rights, to defend the democratic constitutional state at all times, to secure equality before the law for all people and to resist all forms of dictatorship and regimes based on violence.† * Peter Eisenman,the architect of the memorial says about its intention that â€Å"The enormity and scale of the horror of the Holocaust is such that any attempt to represent it by traditional means is inevitably inadequate Our memorial attempts to present a new idea of memory as distinct from nostalgia We can only know the past today through a manifestation in the present.† * The design is to turn the visit of the memorial into an individual experience that causes the visitor to reflect about the genocide. * Each individual entering the field of stelae will find him- or herself wandering alone, because the paths in between the concrete slabs are not wide enough for two people to walk next to each other. Thus, the visitation turns into an individual experience. * Lea Rosh, the initiator of the memorial stated that this meant to raise the murdered above their murderers and to raise the victims above the perpetrators. CONCLUSION * Looking at the historical significance of the claimed area, the memorial gains a layer of authenticity, but what is almost of more importance is the setting of the memorial in the government quarter and in the heart of the capital. * Time will show if the memorial will live up to the definition of authenticity in the sense of heritage conservation where it is understood â€Å"as the ability of a property to convey its cultural significance over time†. * For one thing is sure, that the memorial’s cultural significance is complex for being a monument to honour the Jewish victims of the holocaust and at the same time a testimony of Germany’s accounting with the past. WEXNER CENTER OF ARTS, OHIO INTRODUCTION * The firm of Peter Eisenman and Richard Trott won the design competition for Wexner Center of Arts. * Eisenman wowed the Jury with his bold ideas for the art center, which were aimed at linking the past to the present (â€Å"Timeless Earth 1), through the use of unconventional means. * The end result became both Peter Eisenman’s first large public commission and one of the first large scale constructions of Deconstructivist Architecture. * The building is tucked in between the Mershon Auditorium and Weigel Hall both of which are home to programs that were to be consolidated into the Wexner Center. DESIGN PROCESS * The literal use of the rotated grid is used by Eisenman as an extensive method of giving the architecture its own voice. * The identification of the dialectic grids stems from conditions that exist at the boundary of the site, Eisenman then grafts one grid on top of the other and seeks potential connections or ‘event sites’ at the urban, local, and interior scales. * Scalar operations are performed as a means of mediating the scale of the urban grid towards a pedestrian or human scale, lastly, the results of these operations serves as a map that is used to locate program, pathways, structure, interior forms, excavations, and views along the newly afforded possibilities of ‘event sites’ in both the horizontal and vertical planes. * The results of these operations are visible in almost every aspect of the construction, from the module in the curtainwall, the tiling of the pavers, planters and trees on site. * To add to the depth of possibilities afforded by this excavation of the immediate condition of the grid Eisenman grafts figured scaffolding onto the site and integrates this figure into the primary circuit or pathway of the building. * The scaffolding is scaled to represent the module of the grid that is interpretable at a human scale. * The scaffold is reduced to its raw type, to the essential condition that signifies the essence of its existence that being an impermanent accessory to architecture that allows its construction, but does not necessarily shelter. * This architecture of non-shelter is aligned directly adjacent to an interior pathway within the building that does enclose and protect. * Eisenman coupled his grid abstractions with a series of figures that would play a key role in his aim of linking the past with the present. * The most prominent of these figures exists as a reconstruction of a part of the armoury that occupied the site from 1898 until it was terminally damaged by fire on May 17th 1958. * The figure of the armoury Eisenman has presented along the south pedestrian access (the most visually accessible elevation of the building) has been reduced to a series of fragments of armoury-like forms that indicate the ‘essence’ of the armoury without reproducing any of the original intricate detail. * Within the armoury forms the negative space carved out of the solid brick masses that make up these figures is cast with a dark tinted curtain wall, within which is an aluminum mullion pattern evocative of the use of grid. * The contrast created by the anodized aluminum of the mullions intensifies the impenetrable depth of the glass. * The lack of historical fidelity in the reconstruction of the armoury, the fragmentation of the form, and the insertion of dark glass into the voids left between these fragments seems to speak of the disjointed manner in which we reflect the past, and in turn, it serves to remind us of a past we have lost and can never return to. * In revisiting the design devices that Eisenman used in the design of the Wexner Center for the Arts is has been possible to determine that much of the abstraction of form derives itself from co-related processes. * Initiated by a series of processes which appropriate and manipulate ‘rotate’ the coordinates of the urban and pedestrian, horizontal and vertical, and the past and the present Eisenman produces three very distinctive extensive and intensive operations of shifting, figuring, fragmenting that coalesce into an engaging ecology for the celebration of creative thought. HOUSE VI * In the earlier stage of his career he designed a series of houses, named as house I to house X. His House II, VI and X are most famous projects of his initial ones. * Eisenman, one of the New York Five, designed the house for Mr. and Mrs. Richard Frank between 1972-1975 who found great admiration for the architect’s work despite previously being known as a â€Å"paper architect† and theorist. * By giving Eisenman a chance to put his theories to practice, one of the most famous, and difficult, houses emerged in the United States. * Situated on a flat site in Cornwall, House VI stands its own ground as a sculpture in its surroundings. * The design emerged from a conceptual process that began with a grid. Eisenman manipulated the grid in a way so that the house was divided into four sections and when completed the building itself could be a â€Å"record of the design process.† * Therefore structural elements, were revealed so that the construction process was evident, but not always understood. * Thus, the house became a study between the actual structure and architectural theory. The house was effeciently constructed using a simple post and beam system. * However some columns or beams play no structural role and are incorporated to enhance the conceptual design. For example one column in the kitchen hovers over the kitchen table, not even touching the ground! In other spaces, beams meet but do not intersect, creating a cluster of supports. * The structure was incorporated into Eisenman’s grid to convey the module that created the interior spaces with a series of planes that slipped through each other. * Purposely ignoring the idea of form following function, Eisenman created spaces that were quirky and well-lit, but rather unconventional to live with. * He made it difficult for the users so that they would have to grow accustom to the architecture and constantly be aware of it. For instance, in the bedroom there is a glass slot in the center of the wall continuing through the floor that divides the room in half, forcing there to be separate beds on either side of the room. * Another curious aspect is an upside down staircase, the element which portrays the axis of the house and is painted red to draw attention. * There are also many other difficult aspects that disrupt conventional living, such as the column hanging over the dinner table that separates diners and the single bathroom that is only accessible through a bedroom. * Eisenman was able to constantly remind the users of the architecture around them and how it affects their lives. * He succeeded in building a structure that functioned both as a house and a work of art, but changing the priority of both so that function followed the art. * He built a home where man was forced to live in a work of art, a sculpture, and according to the clients who enjoyed inhabiting Eisenman’s artwork and poetry, the house was very successful. MICHAEL GRAVES * Michael Graves arrived in Princeton in 1962, when university offered him first ‘real’ job. * He had worked briefly for architect George Nelson in New York before spending two years at American Academy in Rome, a sojourn which was to have the most profound influence on his mature architecture. * Michael Graves and his two firms have received over 200 awards for design excellence in architecture, planning, interior design, product design and graphic design. Graves is the recipient of the 2001 Gold Medal of the American Institute of Architects. * Michael Graves is considered as one of the five architects, known as ‘New York Five’, which includes (Eisenman, Graves, Meier, Hejduk and Charles Gwathmey.) GRAVES WAREHOUSE RESIDENCE * Michael Graves house in the university town of Princeton, New Jersey, is a highly personal work by an architect best known for large-scale projects. * The residence is being renovated from a ruined warehouse. So Graves often address his house as ‘warehouse’. * Modest in scale and virtually invisible from the public street, the ‘Warehouse’ is nonetheless a symbol of Graves’ passionate belief in an architecture which is both natural and humane. Its quiet grandeur reflects his final rejection of the machine aesthetic of the Modern Movement. * The house is a personal statement and a private retreat, where Graves keep the furniture, pictures, books, sculptures and other objects accumulated during a lifetime of collecting. * Graves like John Soane, sees his house as a place to display his collections, which will one day be available to the interested public. John Soane’s museum house has always been an inspiration for Graves. * The warehouse is an L-shaped building, consisting of a northern wing and an eastern wing. * The original north wing, hidden from the street, had large doors where trucks regularly disgorged loads of household accessories. * The later wing, at right angle, was much narrower. It was here that Graves first made his home. He installed a kitchen and bathroom and lived like a student at first. * In mid eighties with his practice booming, he tackled the northern wing, bringing in other members of his office to assist and began work on the garden. This second phase of work took four years and was followed by a year of work in the kitchen wing. * The formal inauguration of house take place in 1992, when a conference of US Governors took place in Princeton and Graves held a garden party for the Governors’ spouses. EXTERIOR * The exterior has a quiet monumentality, which derives from the vernacular barns and farmhouses of the Italian countryside. * Graves have rejected ‘canonic’ classicism in favour of a freer and more ‘natural’ approach to design and stresses that the house is intended as a practical place to live rather than a monument, despite his long term plans to preserve it and possibly house an archive of his work there. * The elevation of the house cannot be read in terms of conventional classical design. Informal and vernacular in inspiration, they equally have an almost Cubist abstraction which suggests connection with Graves’ earlier houses. * The chimney stack in particular, is a boldly expressed sculptural design. * The unity of house and garden is key theme. Graves seeks an idealized landscape, recalling those he loves to paint in Italy, and planting is subordinated to an overall architectural intent. The warm and slightly irregular texture of the stucco, contributes greatly to the overall effect of the exterior. * Highly sculptural in treatment and rigorous in its exclusion of ornament, the Warehouse looks beyond replication and more genuine ‘traditionalism’. * The entrance court at the house is a dynamic and yet comfortable space, open to the sky and preparing guests for the relatively low and intense entrance hall. * The dining room looks into this space, which has an agreeable ‘inside/out’ quality. INTERIOR LIBRARY * The Library is placed such that it behaves as connecting area between Living room and East garden. * The library has a sense of verticality and highly architectural in treatment, like a street of colonnaded buildings. * Skylight enlightens the volume of the library from the top. WORKSPACE * The house is close to Graves’ office, but he occasionally works in here and keeps a small functional study room on the first floor. * He often expresses himself in the delicate, enigmatic water colours he paints, on his tours. * Study room is lit by the square window on the front wall. LIVING ROOM * Graves’ living room is equally made for comfort rather than mere show. The relatively low floor to ceiling heights in the building – dictated by the original structure – have been cleverly utilized to produce interiors of some intensity. * Alcoves to the living room are distinctly Soanean in form, but reflects the dimension of original store rooms used by Princeton students to store everything from books to grand pianos. * A terra-cotta-colored wall sets off furnishings that range from antiques to chairs designed by Michael Graves. DINING ROOM * The dining room is lit by tall metal framed windows which look onto the courtyard which seems to form a natural extension to the space. * The chimney-piece has an austerity which is more Modernist than Classical. * Many of the accessories in this room were sold as Grand Tour souvenirs a century ago. Michael designed the glass-and-metal centerpiece vessel for Steuben (Manufacturer of handmade art glass and crystal). CONCLUSION * The Warehouse is a highly personal building, which expresses not just Michael Graves, master builder, but equally Graves the sceptic and questioner of orthodoxies, whether modern or ‘traditional’. The house is clearly both modern and traditional. * If its plan is essentially Classical and its use of light and shade specifically Soanean, the easy flow of the spaces and the essential informality of the building provide a reminder of its architect’s roots in the Modern movement * The Warehouse is indeed, a clear statement of a lively traditionalism which remains a powerful strand in contemporary American design. * Its quiet beauty is the work of a man who has played a key role in reshaping the face of architecture in the late twentieth century. DENVER CENTRAL LIBRARY * Michael Graves was commissioned in 1990 to renovate and design an extension to the Denver Central Library. * Sitting adjacent to Denver Art Museum, the Denver Central Library stands as the 8th largest library in the United States. * The 405,000 s.f. addition to the existing library allows for the original building designed by Burnham Hoyt in 1956 to maintain its own identity. * So much so that Graves’ addition and the original library are two parts in a larger composition that are connected by a three story atrium. * The expansive atrium serves as a new main entrance that becomes the main focal point for visitor orientation and circulation to either wing of the library. * For a post-modern building, the interior of the library is fairly conservative when it comes to the decorative aesthetics. * Most of the spaces appear as traditional library spaces composed of natural wood evoking a sense of grandeur and extravagance. * Only in the reading rooms is there any trace of the post-modern aesthetic. * One begins to understand the abstracted colonnades, vaulting, and colorful painting creating more of a fun learning environment rather than a stark, serious library space. * In addition to the extensive literary collections, the library functions as a community gathering space consisting of multipurpose rooms, meeting facilities, shops, a cafà ©, and a special â€Å"museum-like† collection on the American West. * The Denver Central Library sits affixed in Downtown Denver as not only an academic institution, but as part of a larger cultural epicenter. MARITIME EXPERIENTIAL MUSEUM * The Maritime Xperiential Museum is an iconic structure that draws its inspiration from sea-going vessels and thus embodies the stories contained in the exhibits and programs presented inside. * Throughout the day, the shadows and dappled light cast by the ribbed frame will enliven the interior exhibits. * The interactive exhibits and the circular 300-seat Typhoon Theater, provide a wide variety of experiences for visitors. * The exhibit focuses on the maritime Silk Route, which historically stretched from Southeast Asia to Oman. Geographically, Singapore is an important part of this history. * The Museum is set back from the water’s edge by an esplanade with a covered pedestrian loggia that allows visitors to enjoy the view of the mainland across the bay. * At night, when viewed from the water, the glass facade of the Museum will reveal the brightly-lit interior, becoming a beacon on the water and a landmark on the horizon. * West of the Museum, a small marina will display examples of sailing vessels, a tourist attraction in its own right, which lends an air of authenticity to the museum complex. * The Museum and Marina are thematically linked to the adjacent outdoor Marine Life Park and form a rich tourist experience focused on the sea, marine life and maritime experiences. * Along the waterfront at the base of Universal Plaza is the Showplace Theater, with large stone steps creating a seating area for 2,000 people. * With views across the bay to the main island, this is the location of the Crane Dance, a nightly sound and light show in the water that epitomizes the fun and drama of Resorts World.

Nutrition Essay -- Health Nutrition Pyramid Diet

Nutrition Paper   Ã‚  Ã‚  Ã‚  Ã‚  When I first began this project I thought the 7 day eating log was going to be a waste of time, but now that have completed it I realize that it is actually very beneficial. I never realized how bad I was eating until I took a step back and looked at it. This has greatly impacted me to change my eating habits, and start to chose healthier foods. Something I learned about myself is that I have a lack of will power when it comes to certain types of candy or food. I saw ice cream come up more than once on the list, which isn’t very healthy. I think this will affect my lifestyle by opening my eyes to my problems with eating, and now I need to correct them.   Ã‚  Ã‚  Ã‚  Ã‚  The movie Super Size Me has been a movie that I have been int...

Leadership & Change Management Essay

Transactional leadership styles are more concerned with maintaining the normal flow of operations. Transactional leadership can be described as â€Å"keeping the ship afloat. † Transactional leaders use disciplinary power and an array of incentives to motivate employees to perform at their best. The term â€Å"transactional† refers to the fact that this type of leader essentially motivates subordinates by exchanging rewards for performance. A transactional leader generally does not look ahead in strategically guiding an organization to a position of market leadership; instead, these managers are solely concerned with making sure everything flows smoothly today. Transactional leadership motivates followers by setting up social or financial transactions that persuade them to act. For example, a transactional leader might offer bonuses to her sales staff for exceeding quotas. The bonus is a form of financial transaction. Transactional leadership often is set in opposition to transformational leadership, which is a leadership style that relies on convincing followers that a particular vision of what the organization can achieve is worth working toward. Transformational leadership A transformational leader goes beyond managing day-to-day operations and crafts strategies for taking his company, department or work team to the next level of performance and success. Transformational leadership styles focus on team-building, motivation and collaboration with employees at different levels of an organization to accomplish change for the better. Transformational leaders set goals and incentives to push their subordinates to higher performance levels, while providing opportunities for personal and professional growth for each employee. Transformational leadership might sound preferable because the leader doesn’t cynically harness the self-interest of her followers, as the transactional leader does. But there’s a problem. A transformational leader might not be forthright with her followers. For example, a business owner might motivate her workforce with stirring speeches about the nobility of hard work, while her real aim is to increase production for personal gain. This type of transformational leader might be called inauthentic. Advantages Both leadership styles are needed for guiding an organization to success. Transactional leaders provide distinct advantages through their abilities to address small operational details quickly. Transactional leaders handle all the details that come together to build a strong reputation in the marketplace, while keeping employees productive on the front line. Transformational leadership styles are crucial to the strategic development of a small business. Small businesses with transformational leaders at the helm shoot for ambitious goals, and can they achieve rapid success through the vision and team-building skills of the leader. Applications Different management styles are best suited to different situations. When it comes to front-line supervisors of minimum-wage employees, for example a transactional leadership style can be more effective. Shift supervisors at a fast food restaurant will be much more effective if they are concerned with ensuring all of the various stations run smoothly, rather than spending their time thinking up better ways to serve hamburgers. On the other hand, CEOs or sales managers can be more effective if they are transformational leaders. Executive managers need the ability to design and communicate grand strategic missions, passing the missions down to transactional leaders for implementation of the details. Organizations emphasize the concept of leadership in training managers or group leaders to propel a team or the organization forward. Within leadership, the effectiveness of the transformational versus transactional leader is often debated. Transactional leadership relies more on a â€Å"give and take† understanding, whereby subordinates have a sense of duty to the leader in exchange for some reward. Transformational leadership, on the other hand, involves a committed relationship between the leader and his followers. In 1985, industrial psychologist Bernard Bass identified and wrote about four basic elements that underlie transformational leadership. Idealized Influence Transformational leaders act as role models and display a charismatic personality that influences others to want to become more like the leader. Idealized influence can be most expressed through a transformational leader’s willingness to take risks and follow a core set of values, convictions and ethical principles in the actions he takes. It is through this concept of idealized influence that the leader builds trust with his followers and the followers, in turn, develop confidence in their leader. Inspirational Motivation Inspirational motivation refers to the leader’s ability to inspire confidence, motivation and a sense of purpose in his followers. The transformational leader must articulate a clear vision for the future, communicate expectations of the group and demonstrate a commitment to the goals that have been laid out. This aspect of transformational leadership requires superb communication skills as the leader must convey his messages with precision, power and a sense of authority. Other important behaviors of the leader include his continued optimism, enthusiasm and ability to point out the positive. Intellectual Stimulation Transformational leadership values creativity and autonomy among the leader’s followers. The leader supports his followers by involving them in the decision-making process and stimulating their efforts to be as creative and innovative as possible to identify solutions. To this end, the transformational leader challenges assumptions and solicits ideas from followers without criticizing. She helps change the way followers think about and frame problems and obstacles. The vision the leader conveys helps followers see the big picture and succeed in their efforts. Individualized Consideration Each follower or group member has specific needs and desires. For example, some are motivated by money while others by change and excitement. The individualized consideration element of transformational leadership recognizes these needs. The leader must be able to recognize or determine through eavesdropping or observation   what motivates each individual. Through one-on-one coaching and mentoring, the transformational leader provides opportunities for customized training sessions for each team member. These activities allow team members to grow and become fulfilled in their positions. The Benefits of Transformational Leadership Motivation A transformational leader uses her belief in the vision of the company to inspire the staff to be more productive and work towards company goals. The drive behind a transformational leader is to find ways in which she can get the entire staff on board with corporate strategy and planning. When the entire company is on the same page with the corporate vision, it can make achieving that vision easier. Planning Inspirational managers do not focus their energy solely on motivating the staff. A good transformational leader has broad visions for the company’s future, and those visions can become instrumental in company planning. Whether it is refining the overall business plan or affecting individual marketing programs, the transformational manager has ideas and visions for the future of the company that he wants to share with the management team and work to turn those plans into reality. Retention The idea of transformational leadership is to reach out to each employee and bring out the best in them. An inspirational manager spends time with each employee discussing ways to make the employee’s job easier, and helping to create plans for developing the employee’s career. This individual attention that is offered by transformational leaders helps to create a strong bond between the manager and his employees that will reduce employee turnover. Growth  A manager that is not intimately involved in the growth of the company and the development of her staff can start to struggle with managing her department as the company grows. A transformational leader is constantly involved with the growth of the company and the ongoing development of employees. As the company grows, the transformational leader maintains that close contact to the company and employees and can make the process of growing a more involved experience for new and veteran employees.

Themes in Science Fiction Essay example - 1414 Words

Over the many years of English literature and various forms of media, the ideals of the times and of the creators of these works have changed; some drastically, some possibly not as much. The genre of science fiction is no exception. Take, for example, two of the most widely-known science fiction novels in the history of English literature: The Time Machine and The War of the Worlds, written in the late 1800s in Victorian England by H.G. Wells—novels which, quite arguably, revolutionized the science fiction genre—and their modern theatrical counterparts. While it may be more beneficial to compare two works of the same medium, the differences in themes and style are still evident. The former two reflect Wells’ own views in society and†¦show more content†¦He discusses the pros and cons of both communism and capitalism, possibly as a result of The Communist Manifesto having been translated into English only about ten years before the publication of the novel (â€Å"The Communist Manifesto†) and that England is a capitalist society. The Time Traveller notes that all of the people that live above the ground, called Eloi, all live and sleep together in one large building, and he immediately calls this â€Å"Communism.† (Wells, 46) He also notes this because the society of the Eloi is a seemingly classless one without any control by superiors; everyone is equal. This can be seen through how they all sleep together, eat together and play together as if everyone was one big, happy family, without any discrimination. There is no struggle in the society and everyone lives an easy life where no work is done. However, communism is not without its downsides. 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Finance Analysis Between Horby And Games Workshop Essay Example Pdf - Free Essay Example

Sample details Pages: 13 Words: 3996 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? The purpose of this report is to compare the market performance of two companies belonging to the same industry on the basis of which provide investment advice to Stephan Curry. The companies are namely Games Workshop PLC and Hornby PLC. Both companies belong to the House, Leisure and Personal Goods industry. Don’t waste time! Our writers will create an original "Finance Analysis Between Horby And Games Workshop Essay Example Pdf" essay for you Create order Stephen does not have much exposure to the games retailing sector and needs help in making up his mind as to which company to invest in. In this report the following topics will be discussed:- An analysis of the House, Leisure and Personal Goods industry to assess how the industry as a whole is performing in the market. A comparative financial analysis of both the companies in order figure out which of the two companies is a better candidate for future investment. An understanding of the clients attitude to risk and the reasons for advising him to invest in mentioned company. Profitability Ratios Return on Capital Employed (ROCE) ROCE is calculated to find out the performance of a company in terms of capital employed to profit earned or generated during the specified periods. It is calculated on the basis of PBIT and Capital Employed. Where, PBIT is the operating profit that is, the profit before paying interest and tax and Capital Employed is the amount invested in the business and it express the relation between total fixed assets, current assets and the current liabilities. Calculation of ROCE is very relevant in assessing the funds employed in order to know the efficiency in utilizing it. Return on Capital Employed (ROCE) While benchmarking with time, Games workshop has shown excellent growth and returns on Capital employed. While comparing it with Hornby PLC it can be seen that while Hornby PLC is giving good returns they are in a downward trend, while Games workshop though it gave bad returns in 2008 has improved and has been consistent in its growth of returns. Now lets benchmark with expectati on of how good the return should be. The minimum acceptable reward to the investor for risk is 10% which is double that of how much they would get if they invest in fixed deposits in a bank. Hornby PLC has for all three years given return above the minimum acceptable rate. Games workshop in 2008 has been disappointing but they have done a fairly better job in the next two years while compared to Hornby PLC. Net Profit Margin Net profit margin or operating profit margin conveys the relationship between operating profit and sales revenue. Both, operating profit and sales revenue are output from business transactions and therefore, this ratio highlight the performance of the company in relation to cost incurred in operating the business and selling goods. Higher the net profit margin greater the profitability to the company. Net Profit Margin When benchmarking both companies with time we can see that they have been on more or less equal footing. Though on an average Hornby PLC has a better NPM than Games workshop we must note that while performance of Hornby is declining that of Games workshop is increasing every year. This means that according to horizontal analysis Games workshop has a better probability of doing well the next year than Hornby PLC. Free Cash Flows Cash which remains even after the company reinvests it into the business is called Free Cash Flows. The higher the free cash flow the more secure the company is against economic distress. Free Cash Flows The above chart shows the amount of free cash flow the companies had between the years 2008 and 2010. Games Workshop over the last 3 years has had increased amounts of free cash flows indicating reliability in consistency. It also means that high enough cash flow to reinvest in its business in 2011 and distributes among the securities holders in case the business does not do well. Hornby on the other hand shows both a negative cash flow and increased cash flows in the years 2009 and 2010 respectively. Free Cash Flow Margin Now if we can assess the free cash flow margin we will be able to determine the amount of sales that can be turned into excess cash by a company. The stronger the Free Cash Flow Margin the stronger its competitive advantage. Free Cash Flow Margin Games Workshop has stronger cash flow margins suggesting that it has an economic competitive advantage when compared to Hornby PLC. As we can see clearly in the above chart the Hornby cash flow margins have been much lower than those of Games workshop. It also shows a negative cash flow margin in the year 2009 when the global meltdown happened showing that it is not very stable and is susceptible to market failure. Return on Assets (ROA) When net profit is calculated as a percentage of the assets of the company we get the value earned for every pound spent on the assets. To calculate how efficient a company really is how it effectively it uses its assets is very important. If the company is not able to get all returns on its assets then it shows that the company is not doing very well. Return on Assets (ROA) Again according benchmarking with time Games workshop shows better results by increasing the ROA percentage per year. Hornby PLC is not able to convert all the assets into profits. It shows a big drop in return in the year 2008-2009 and does not get better in the next year either. After calculating several variables in order to determine the profitability of the company Games Workshop is proving to be a more profitable company than Hornby PLC. Liquidity Ratios Liquidity ratio measures the performance of a company by covering the aspects of operating cost and the efficiency of utilizing capital available for fixed assets. This ratio focuses on how well the company is keeping short term assets to cover short term liability. Current Ratio Current asset ratio measures the liquidity by linking work-in-progress to stock and debtors to cash, comparing that to current liabilities. The value 2:1 is considered as satisfactory level of performance that is, company should able to cover current liabilities incurred with its current assets. In-other words, current assets should be more than the current liabilities. Current Ratio Here both companies are not maintaining satisfactory level of liquidity in the last two years even though the current assets have shown an increasing trend. Among two companies, Hornby is showing a low level of liquidity because of the increase in borrowings and allocation of funds to provisions and also increase in derivative financial instruments affected the current ratio in the year 2009. On the other hand, the main cause for increasing trend of liquidity of Games Workshop is because they reduced their borrowings and allocated provision to minimum level. Hence Games Workshop is comparatively better performing. Acid Test Ratio Acid test ratio also measures the liquidity position of a company on the basis of current assets to current liabilities but it does not take stock or inventory into account of current assets. The reason for excluding stock from current assets is that, often it will take time to convert sales into cash. That is, sometimes goods which are sold on credit will take much time to convert it into cash. The ratio 2:1 is also considered as a good level of liquidity both in the computation of current ratio and acid or liquid ratio. A 1:1 ratio is also considered as a satisfactory level of liquidity, since the stock is excluded from the current asset which implies that the firm has immediate cash to settle its current liability. Acid Test Ratio Both the companies have maintained a marginal level of liquidity in 2010 with current assets of 1.38 (Hornby) and 1.48 (Games Workshop) to current liability of 1 and also in 2009, Games Workshop continued a marginal level of 1.14. In the year 200 9, Hornby has shown an insufficient liquidity (0.72) when compared to Games Workshop (0.90). The reason for the increase in ratio for both the companies in the year 2010 was due to the increase in cash and cash equivalents. Further, in the same year trade receivables also increased. Since liquidity ratio is calculated by deducting stock from current assets, it reflect the current assets in the sense that companies which maintain high stock will have low current assets to current liability and therefore the liquidity will be minimum to cover the current liability. Here, it can be seen that Hornby have maintained high level of stock through out last three years. Where as Games Workshop continued to keep same levels of stock, which reflected in the liquidity and therefore be considered for making investment. To maintain high liquidity both the companies have to reduce their current liabilities and should focus on the liquid assets. Efficiency Ratios Efficiency ratios review the management of a companys resources. The efficiency ratios that have been reviewed for the analysis are Stock turnover or Inventory turnover ratio, Trade receivable ratio or Debtor collection period. Stock turnover or Inventory turnover ratio Ratio indicates the number of times the stock or inventories are replaced. It is measured as Cost of sales divided by the number of stock. The ratio indicates the number times the inventory has to be turned over. The stock turnover ratio when further divided by 365 days provides the number of days it took, for a particular stock to be sold. The bar graph below indicates the inventory turnover period for 3 years for Games workshop and Hornby. Any business will always prefer to have the shortest inventory turnover period since holding inventories involves cost. For an investor it is important to know whether the company is wasting money with too many inventories and if too less, then probably loosing its customers to other competitors. Therefore it is a key management ratio to be reviewed. Inventory Turnover Period In the year 2010 Games Workshop had a marginal increase in turnover period, at approximately 120 days, where as 2008 and 2009 remained more or less the same. Horn by had considerable decrease in 2010 to approximately 137 days as compared to other two years especially in the year 2008 where though cost of sales was low stock was high. For games workshop the year 2010 proved beneficial because cost of sales was considerably low as compared to other two years. Games Workshop seems better prepared when it comes to inventory turnover period because its stock has minimum variations over the past 3 years and made efforts to reduce its cost of sales. Trade receivable ratio or Debtor collection period This ratio provides information on how long does the customer take to pay back for goods taken on credit. The debtors or trade receivables is usually divided by credit sales however that information is unavailable on the financial statements of both companies, therefore it is being divided by revenue from sales and then multiplied by 365. Debtor collection gives an investor an insight of how many days in year does companys customer take to repay. Debtor collection is important to an investor because provides details on whether the funds are being tied up because the customer is taking longer period to pay. Debtor Collection Period The bar chart above indicates that Games Workshop has the lowest Debtor collection period where as Hornby, comparatively has the highest. Both companies have marginal increments for all three years. However, though Games Workshop has less debtors, it has considerably high revenue from sales as compared to Hornby. On the other Hornbys debt are a few hundreds more than Games Workshops Debt but has lower Revenue from sales. Thus Games Workshop proves to be the one with better cash inflow. Gearing Interest Cover Ratio It is the companies ability to repay unpaid portion of debt to outsiders. Interest cover ratio explains that the operating profit should be higher to cover interest payable. Decrease in operating profit means, company have repayment problem to its lenders and shareholders. Interest cover ratio below 1.5 or 1 is a sign that the company is not producing sufficient profit to payoff its debts or interest. Interest Cover ratio Hornby for past three years has had acceptable cover. However, it has been following a downward trend. Hornby saw 2008 as better year in terms of interest ratio cover. It had the highest PBIT and the least interest. As of 2010 it has had the least PBIT and high Interest payable. Games Workshop has had tremendous improvement in 2010 in terms of profits and least tax paid. PBIT for Games Workshop was twice more than what it had been in the year 2009. Investment Ratios:- Earnings per Share The portion of the company profits allocated to each outstanding share of common stock. EPS is considered a very important variable in determining a shares price. It is also required to calculate the price earnings ratio which helps in determining the future growth of the company. Earnings per Share From the above chart we can see that the EPS in 2008 was the lowest. This could be because the net income of the company was very low at that time. By the increasing the net income and reducing the variable costs in between the company has increased its earnings per share. The EPS for Hornby was highest when its net income was high. In the following years they were not able to maintain the net income as their costs increased. This led to the fall of the EPS. This shows that Hornby is not able perform as well as Games Workshop. Price Earnings Ratio: The price earnings ratio shows the current investor demand for a company share. By finding the reciprocal of this ratio we will know the earnings yield, which is nothing but the estimate of the expected return gained by holding the stock. Price Earnings Ratio The PE ratio is the markets estimate of future earnings potential. The higher the PE ratio of a company the more its future earnings is estimated to be. One of the reasons that a companys earnings may be expected to grow is if it has a good amount of free cash flows that it can reinvest back in the business for growth purposes. We have seen under profitability ratios when calculating free cash flow for both the companies that Games Workshop had higher amount of free cash flow than Hornby PLC. Therefore Games workshop is expected to have better growth prospects for the coming year even with a high dividend pay-out. Industry Analysis Hornby PLC is a patent granted to Frank Hornby and soon after he got the patent he put that into production and it is Under the Name Mechanics Made Easy which help and formed the Meccano Ltd in the year 1907 and then the Factory is moved to New and larger Premises and came into the lead of Classic toys of all time. Games workshop Plc Belongs to British games production and retailing company, this company is listed in London Stock Exchange and the symbol of this is GAW.L, This Company is founded in the year 1975 by John Peake. This is one of the worlds largest and very successful tabletop fantasy and battle games manufacturer. This Company is more into helping the mighty armies on the battle field. Games Workshop Public Limited Company and Hornby Public Limited Company are part of the House, Leisure and Personal goods industry. They are engaged in designing, manufacturing and whole selling and also distribution of games, miniature figures and recreational products in United Ki ngdom and few other parts of the world like America, Europe Continental and Asia Pacific. This particular field of recreational products or Miniature Figures manufacturing and distrusting industry is growing better every year there are many brands that are into this Industry from different parts of the world and they come around 446 in number, The United states market revenue in this field is around $57 billion, Customers who are buying this type of products are growing day by day and its now a new era of Hobbies, though it is an expensive one there are few brands who are making the products for cheaper price and growing the revenue for this market and the value for the share market, The Games workshop Individually had a very good gross margin by the means of one man stores and they also promoted metal figures and started avoiding plastic for making the products, Analysts had estimated the pre-tax Profit for the year 2010 may is around 9 Million Pounds, as of the year 2009 sales thi s company made a profit of 7.5 Million Pounds on the sales of 125.7 Million pounds. In the year 2008 the company profit is not good as expected because of the less effort putting by the employers back on easy way of success. Hornby plc is also good in this market and as of the announced on 31st of march 2010 the sales of horn by plc had a very good improvement and that lead it to increased share values and the company is very much happy with the analysis expected as this brand is famous for the toy train making and they are also improving the product sales by making the products featuring Michael Schumacher and this states the new way of the sales promotion and profit maximization which will also create a very good interested for the investors to invest in Hornsby Plc. In the year 2009 the companys sales grew to 5% i.e.: 61.6 Million Pounds and the sales were up for 20% in the year 2008. Basing on the yearend financial statement the miniatures industry is showing its growth every ye ar and the investors are also showing there interests to invest money into this type of new markets This particular products come under household and consumer goods industry and in this includes all the electronics applications used in house and other general goods as of the year 2009 the consumer electronics industry performed very well and the annual gain in more than 130% among the 23 applications and the expected growth for the year 2010 is about 15% and the sell volume crossed 9.0 billion and this market is growing in rural areas also. This industry has an emerging market and the growth is rapidly increasing and moving towards a strong economic growth. In United States the EMES (emerging market economies) had a very good result and the growth rate is 66.0% in 2000 and 2009 and reaching the figure 7.5 trillion by 2010. China is one of the best progressive countries in terms of this market and it had driven the US profits to it and that made the US market Sluggish. This Indust ry is not restricted to one country alone but bridges the gamming gap between nations. Since this a growing market it would be an industry which can be invested in. Conclusion and Recommendation The following conclusions were drawn after calculating all the ratios. Hornby PLC Hornby PLC has not performed up to the expectations of the company or the industry. The company did not have good probability in the year 2009. A negative cash flow and free cash flow margin and also lower returns on Capital employed and total assets show that the company is not able to generate the sales it intends on generating. In terms of efficiency Hornby yet again has performed poorly. Apart from having a higher turnover period we also see that takes a longer time to receive it payments showing less cash in hand for the company. Hornby is not maintaining adequate level of liquidity position since its current liabilities are showing increased borrowings and high allocation for provisions. Increased level of stock positioning caused Hornbys a decrease in current assets thereby affecting its performance. Coming to investment, though the company did well in years 2008 and 2010 its drastic dip in 2009 is a cause for concern. Its shows that the company is not stable and is more sus ceptible to a further dip in its performance. Games Workshop Games workshop started the year 2008 very poorly but fast improved its performance in 2009 and 2010. It has increases its free cash flows and has very good cash flow margins in comparison to Hornby PLC and its previous years. It also has been showing to have good return both on Capital Employed and total assets indicating that the company is indeed a profitable one. Games Workshop has reduced its cost of sales resulting in shorter turnover period. The debtor collection period for Games workshop is lower compared to Hornby since it generated high revenue in sales and has maintained a consistency in sales generation. Games Workshop has increased sales, profit and reduces its costs therefore it proves to be more efficient and profitable than Hornby. Games workshop has maintained current liabilities like borrowings and provisions at a minimum level so that its liquidity position is higher than Hornbys. Moreover, Games workshop has kept its stock level more or less the same throughout a ll three years. When we come to investment Games Workshop shows an opposite trend than that of Hornby. GW did very badly in the year 2008 but increased its performance for the next two years with high profits and higher revenue. The company has had an upward trend showing that it is more stable when compared to Hornby. Games workshop also has higher PE ratios which indicate higher future earnings for the company. Overall Games Workshop has better performance, efficiency, liquidity, gearing and better investment prospects than Hornby PLC. Therefore on behalf of Bresil Investments we would recommend Stephen Curry to invest in Games Workshop Plc for higher returns. Appendix Profitability Ratios Return on Capital Employed (ROCE) = PBIT (profit before interest and tax) *100 Capital employed Hornby YEAR PBIT CAPITAL EMPLOYED ROCE (%) 2010 6004 47456 12.65 2009 6899 39036 17.67 2008 9386 31849 29.47 Games Workshop Year PBIT CAPITAL EMPLOYED ROCE (%) 2010 16120 57327 57327 57327 27.99 2009 7458 52209 17.27 2008 1059 46567 5.48 Net Profit Margin (NPM) = Operating Profit *100 Sales Revenue Hornby YEAR OPERATING PROFIT SALES REVENUE NET PROFIT MARGIN (%) 2010 6004 64736 9.27 2009 6899 61569 11.20 2008 9386 55692 17 Games Workshop YEAR OPERATING PROFIT SALES REVENUE NET PROFIT MARGIN (%) 2010 16045 126511 12.68 2009 9014 125706 7.17 2008 2552 110345 2.31 Free Cash Flows = Cash Flows from Operating Activities Capital Expenditure Hornby YEAR Cash Flows fr om Operating activities Capital Expenditure Free Cash Flows 2010 11934 3825 8109 2009 8005 13256 -5251 2008 7253 3414 3839 Games Workshop YEAR Cash Flows from Operating activities Capital Expenditure Free Cash Flows 2010 26568 7974 18594 2009 18119 8960 9159 2008 10685 9019 1666 Free Cash Flow Margin = [Free Cash Flow] * 100 Sales Hornby YEAR Free Cash Flow Sales Free Cash Flow Margins (%) 2010 8109 64736 12.53 2009 -5251 61569 -8.53 2008 3839 55692 6.89 Games Workshop YEAR Free Cash Flow Sales Free Cash Flow Margins (%) 2010 18594 126511 14.7 2009 9159 125706 7.29 2008 1666 110345 1.51 Return on Assets = [Operating Profit] * 100 Total Assets Hornby YEAR Operating Profit Total Assets ROA (%) 2010 6004 64290 9.34 2009 6899 57941 11.91 2008 9386 44493 21.1 Games Workshop YEAR Operating Profit Total Assets ROA (%) 2010 16045 75752 21.18 2009 8933 70132 12.74 2008 2552 67489 3.78 Liquidity Ratios Current Ratio= Current Assets Current Liability Hornby YEAR CURRENT ASSETS CURRENT LIABILITY CURRENT RATIO (in factor) 2010 35487 16834 2.10 2009 28038 18905 1.48 2008 23681 12644 1.87 Games workshop YEAR CURRENT ASSETS CURRENT LIABILITY CURRENT RATIO (in factor) 2010 37571 18425 2.03 2009 31234 17923 1.74 2008 29320 20920 1.40 Acid Test Ratio= Current Assets Inventory Current Liability Hornby YEAR CURRENT ASSETS INVENTORY CURRENT LIABITITY ACID TEST RATIO (in factor) 2010 35487 12273 16834 1.38 2009 28038 14368 18905 .72 2008 23681 11890 12644 .93 Games Workshop Year CURRENT ASSETS INVENTORY CURRENT LIABILITY ACID TEST RATIO (in factor) 2010 37571 10138 18425 1.48 2009 31234 10678 17923 1.14 2008 29320 10392 20920 0.90 Efficiency Ratios Stock Turnover Ratio= Cost of Goods Sold or Cost of Sales Stock or Inventory Hornby YEAR COST OF SALES STOCK STOCK TURN OVER RATIO (in times) 2010 32636 12273 2.66 2009 32168 14368 2.24 2008 26297 11890 2.21 Games Workshop YEAR COST OF SALES STOCK STOCK TURNOVER RATIO (in times) 2010 30683 10138 3.02 2009 35919 10678 3.36 2008 33731 10392 3.24 Stock Conversion Period= 365 days Stock Turnover Ratio Hornby YEAR NO. OF DAYS STOCK TURNOVER RATIO STOCK CONVERSION PERIOD (in days) 2010 365 2.66 137.21 2009 365 2.24 162.94 2008 365 2.21 165.15 Games Workshop YEAR NO. OF DAYS STOCK TURNOVER RATIO Stock Conversion Period (in days) 2010 365 3.02 120.86 2009 365 3.36 108.63 2008 365 3.24 112.65 Trade Receivable Collection Period= Debtors* 365 Revenue from Sales Hornby YEA R DEBTORS REVENUE FROM SALES NO. OF DAYS TRADE REC. COLL.Period (in days) 2010 13291 64736 365 74.93 2009 13119 61569 365 77.77 2008 10699 55692 365 70.12 Games Workshop YEAR DEBTORS REVENUE FROM SALES NO. OF DAYS TRADE REC. COLL.PERIOD (in days) 2010 10043 126511 365 28.97 2009 9959 125706 365 28.91 2008 9870 110345 365 32.64 Gearing Ratios Interest Cover Ratio = PBIT or Operating Profit Interest Payable or Finance Cost Hornby Year PBIT Interest Payable Interest Cover Ratio 2010 6004 809 7.42 2009 6899 805 8.57 2008 9386 374 25.09 Games Workshop Year PBIT Interest Payable Interest Cover Ratio 2010 16045 315 50.93 2009 8933 1258 7.10 2008 2552 1681 1.51 Investment Ratios Earnings per Share = Earnings Available to Ordinary Shareholders Number of Ordinary Shares in issue Hornby YEAR Earnings available to ordinary shareholders Number of Ordinary Shares in issue Earnings per Share 2010 3685 37772 9.76 2009 4212 37724 11.17 2008 6077 37637 16.15 Games Workshop YEAR Earnings available to ordinary shareholders Number of Ordinary Shares in issue Earnings per Share 2010 15080 31131 48.4 2009 5469 31129 17.6 2008 -740 31123 -2.4 Price Earnings Ratio = Market Price per Share Earnings per Share Hornby Year MARKET PRICE PER SHARE EARNINGS PER SHARE (Pence) PRICE EARNINGS RATIO 2010 126 9.76 12.91 2009 68 11.17 6.08 2008 189 16.15 11.70 Games Workshop Year MARKET PRICE PER SHARE EARNINGS PER SHARE (Pence) PRICE EARNINGS RATIO 2010 346 48.4 7.15 2009 209 17.6 11.88 2008 174 -2.4 N/A

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My culture has helped me to become the writer I am today. My bicultural background and constant moving back and forthRead MoreInfluence Of Leadership On My Life857 Words   |  4 PagesGrowing up I was always taught that every action has an equal or opposite reaction. So I knew that all of my actions had consequences and all of them influenced others. But what I didn’t always realize was that at the same time I was having others influence me by their actions which eventually shaped me into who I am today. When I think about myself as a person, I think about the variety of communities I have or do belong to that have made me who I am. One of the largest influences in my life would

Man And Superman monologue from the play by George Bernard Shaw Essay Example For Students

Man And Superman monologue from the play by George Bernard Shaw Essay A monologue from the play by George Bernard Shaw NOTE: This monologue is reprinted from Man and Superman. Bernard Shaw. New York: Brentano\s, 1903. TANNER: You, Tavy, are an artist: that is, you have a purpose as absorbing and as unscrupulous as a woman\s purpose. The true artist will let his wife starve, his children go barefoot, his mother drudge for his living at seventy, sooner than work at anything but his art. To women he is half vivisector, half vampire. He gets into intimate relations with them to study them, to strip the mask of convention from them, to surprise their inmost secrets, knowing that they have the power to rouse his deepest creative energies, to rescue him from his cold reason, to make him see visions and dream dreams, to inspire him, as he calls it. He persuades women that they may do this for their own purpose whilst he really means them to do it for his. He steals the mother\s milk and blackens it to make printers\ ink to scoff at her and glorify ideal women with. He pretends to spare her the pangs of child-bearing so that he may have for himself the tenderness of fostering that belong of right to her ch ildren. Since marriage began, the great artist has been known as a bad husband. But he is worse: he is a child-robber, a bloodsucker, a hypocrite, and a cheat. Perish the race and wither a thousand women if only the sacrifice of them enable him to act Hamlet better, to paint a finer picture, to write a deeper poem, a greater play, a profounder philosophy! For mark you, Tavy, the artist\s work is to shew us ourselves as we really are. Our minds are nothing but this knowledge of ourselves; and he who adds a jot to such knowledge creates new mind as surely as any woman creates new men. In the rage of that creation he is as ruthless as the woman, as dangerous to her as she to him, and as horribly fascinating. Of all human struggles there is none so treacherous and remorseless as the struggle between the artist man and the mother woman. Which shall use up the other? that is the issue between them. And it is all the deadlier because, in your romanticist cant, they love one another.