The Storm Of Change Brought From Globalizaion Finance Essay - Free Essay Example

Sample details Pages: 5 Words: 1546 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? The era of globalization has brought about a storm of change that has overturned almost every aspect of business and trade. It has affected every industry, every sector, every nation and every economy, giving rise to the concept of the world being a global village, where there are no boundaries. With the advent of globalization, there is a need amongst the investors to expand their horizons beyond their local security markets. Don’t waste time! Our writers will create an original "The Storm Of Change Brought From Globalizaion Finance Essay" essay for you Create order Indian Depository Receipts, or IDRs, are a result of this phenomenon. It is a rupee-denominated, derivative financial instrument that allows foreign firms to raise capital in India. The need for international diversification of an investors portfolio has driven the formation of this financial instrument. The rising economy of India is making India an irresistible investment playfield for investors throughout the world. Although IDR is not very different from other financial instruments, it has its own set of merits and de-merits. It allows firms to broaden and diversify their investor base, thereby promoting a global image for the firm. Although its American counterpart American Depository Receipt (ADR) has been there since the 1920s, IDR is relatively young, being born in 2004, and even then it was widely unpopular due to the rigid conditions RBI had put on the applicant firms. It was only after the changes made in the ruling in 2007 that the concept of IDRs gained momentum , with Standard Chartered becoming the first firm ever to apply for registration of IDR issues in April 2010. A lot remains to be seen about the future of IDRs and the role they play in the Indian Economy. This paper gives the reader a simplified insight into the inner workings of IDRs, what they are; how they are issued, their pros and cons for both individual investors as well as institutional investors; all of this minus the superfluous and baffling technical jargon. Section 2 deals with defining what IDRs are and why they are needed, while section 3 deals with the history of IDRs. Section 4 deals with a brief overview of the whole process of issuing and registering for issuance of IDRs. Section 5 deals with the advantages and disadvantages of IDRs and section 6 deals with a comparison of IDR with its American counterpart. Section 7 provides an insight into the Standard Chartered story: the first ever firm to register for an IDR issue. Lastly section 8 deals with the fut ure prospects of IDRs, what it can do for investors and the Indian Economy. Section 9 and 10 provide the conclusion and references respectively. 2. Indian Depository Receipts As per the definition given in the Companies (Issue of Indian Depository Receipts) Rules, 2004, an Indian Depository Receipt is defined as: A rupee-denominated instrument in the form of a depository receipt created by a Domestic Depository (custodian of securities registered with the Securities and Exchange Board of India) against the underlying equity of issuing company to enable foreign companies to raise funds from the Indian securities Markets. The concept and the need for IDRs can be best understood with an example. Say, Mr A, an Indian investor, wants to invest money in AutoNation, a US company listed on the New York Stock Exchange. The traditional method for investing would be to contact a broker of NYSE and deal with him. But it is not as simple as it sounds. Mr. A will have to face a lot of obstacles such as unstable settlements, fluctuating currency conversions, unfamiliar market regulations, unreliable information channels and perplexing tax conventions and interna l investment policies. All of these are more than enough to put even the most experienced investors off their game, which defeats the whole point of them investing in foreign markets in the first place. What IDRs do, is allow people like you and me (assuming both of us are blind as a bat when it comes to finance) to invest in foreign companies and diversify our portfolio, without the aforementioned hassles. When a foreign company, like AutoNation, wants Indian investors (like Mr. A) to raise money, it will use Indian Depository Receipts (IDR). An IDR will represent underlying shares of AutoNation, but will be denominated in Indian currency. Just like the shareholder of a regular equity, Mr. A will own a part of AutoNation, and will be entitled to dividends, rights issues and other such payouts that AutoNation issues. The basic purpose behind IDRs is to achieve Cross listing. A foreign company will have the primary listing on its domestic exchange (like NYSE or LSE) while it s listing on the NSE or BSE will be secondary. An IDR has to be listed on Indian stock exchanges (like BSE and the NSE), and can be traded like regular equity shares. It allows people to invest in foreign companies without trying to scrutinize every intricacy of the trading laws and practices in that country. Also, since it is rupee-denominated, there are no hassles regarding currency conversions and fluctuating rupee values. 3. The IDR Issue Process The idea of IDRs was conceived by the Ministry of Corporate Affairs as early as 1997, via the Company Bill. But the actual amendments happened in the form of section 605A of Companies Act. In 2002, a draft of IDR rules was declared and changes were made after citing expert opinions. This finally became the Companies (Indian Depository Receipts) Rules, 2004. The regulatory body for IDRs is SEBI (Securities Exchange Board of India), which issues the guidelines for applicant companies and specifies the eligibility requirements. The model listing agreement (this is the agreement the foreign company is supposed to get into with the exchange where the IDRs will be listed) for IDRs can be found on the SEBI website for all interested parties. 3.1 Eligibility Criteria for Foreign Issuers The eligibility criteria for the foreign companies who want to issue IDRs were somewhat stiff earlier, which was the main reason behind IDRs being unpopular. But in July 2007, substantial steps were taken towards encouraging investments in IDR. Making the selection criteria more lenient was the first step towards this. The revised eligibility criteria are defined as: a. The foreign company should have PreÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ issue paidÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ up capital and free reserves of at least US$ 50 million and have a minimum average market capitalization (during the last 3 years) in its parent country of at least US$ 100 million b. It should have a continuous trading record on a stock exchange in its parent country for at least three immediately preceding years c. It should have a track record of distributable profits for at least three out of preceding five years d. The underlying shares shall not exceed 25 percent of the post issue number of equity shares of the company. CONCLUSION The internationalization of stock markets due to globalization has driven a large number of countries (both developed and developing) to unbolt their stock markets to foreign investors and to relax their previously stringent laws restricting their citizens from investing abroad. Indian markets are taking a dynamic role in this transmutation through IDRs. Undoubtedly, India has enough depth in its security markets to attract sizeable investor interest for IDRs. But problems like an unfavourable, stringent regulatory environment, difficulty in accessing markets, fungibility issues, instability of policies, etc., provided substantial hindrances to the growth of IDRs in India. Certain positive steps by SEBI like the amendment of the previous regulations and a decision to reserve almost 30 % issues for retail investors has made IDRs catch attention of global giants. It has started with Standard Chartered Bank getting a green light to Rs 50 billion through an IDR issue in 2010. It will be interesting to see if this will be an indication towards other foreign companies entering the IDR market. FURTHER READINGS Gordon J. Alexander et al., Asset Pricing and Dual Listing on Foreign Capital Markets: A Note Ernst Young Doing Business in India Tax and Business Guide 2005 Agarwal, R. N., 2000, Financial Integration and Capital Markets in Developing Countries: A Study of Growth, Volatility and Efficiency in the Indian Capital Market, mimeo, Institute of Economic Growth, Delhi Garbade, K. D. and Silber, W. L., 1979, Dominant and Satellite Markets: A Study of Dually Traded Securities, Review of Economics and Statistics Grubel, H., 1968, Internationally Diversified Portfolio: Welfare Gains and Capital Flows, American Economic Review Howe, J. S. and Madura, J., 1990, The Impact of International Listings on Risk: The Implications for Capital Market Integration, Journal of Banking and Finance Jayaraman, N ., Shastri, K., and Tandon, K., 1993, The Impact of International Cross Listings on Risk and Return, Journal of Banking and Finance Kumar, M. and Saudagaran, S. M., 2001, The Impact of International Listings on Liquidity: Evidence from the Indian Stock Market, Fifth Capital Markets Conference 2001 Patil, R. H., 1994, Capital Market Developments, The Journal of the Indian Institute of Bankers Shah, A., 1995, The Tale of One Market Inefficiency: Abnormal Returns around GDR Issues by Indian Firms, Centre for Monitoring Indian Economy Hansda, Sanjay K. and Ray, Partha, 2002, BSE and Nasdaq: Globalisation, Information Technology and Stock Prices, Economic and Political Weekly Wall Street Journal, 1996.Special report on global investing. Heston, S L and K G Rowenhorst. 1994. Does Industrial structure explain the benefits of International diversification, Journal of Financial Economics ONLINE REFERENCES www.rbi.org.in www.gdr.in www.standardchartered.co.in https://economictimes.indiatimes.com/ https://www.business-standard.com/ www.thehindubusinessline.com www.bankingupdate.com www.mca.gov.in www.ficci.com https://banking.indlaw.com/

Executive Pay The Invasion Of Supersalaries - 2074 Words

In Peter Eavis’ article â€Å"Executive Pay: The Invasion of Supersalaries† the conflict of CEOs and top executives outrageous pay grade is discussed. Even though the â€Å"compensation machine† of Corporate America is running smoothly, there are multiple negative and dark undertones. In fact, many people believe that these shocking salaries are the roots of inequality within America. Currently, some CEOs are being compensated millions and millions of dollars as their normal annual salary. Even though the current executive compensation system focuses on performance and can â€Å"theoretically constrain pay,† there is nothing stopping the companies from giving their CEOs more. According to the Equilar 100 C.E.O Pay Study, â€Å"the median compensation of a†¦show more content†¦This focuses on the idea that much of the company’s growth will reflect towards equity-based salaries. By doing this, it will â€Å"align the interests of corporate management with the company’s shareholders.† Essentially, if the company does well, then the executive will be compensated higher. This will encourage management to work harder to improve performance thus increase the stockholders wealth, as well as their own when stock prices rise. However, there have been many cases where the CEO and executive officers receive outrageous compensation even when the companies suffer. Overall, there is a wide disconnect between the incentive of the executives and the financial performance of their company, which needs to be fixed. By passing regulations and rules such as the Dodd-Frank Act, there is hope of shedding light on the connection between the company’s performance and the executives pay. Although it will provide a clear insight, it will not be able to set a strict regulated compensation or define what an executive should earn. Instead regulations will allow for more transparency for the shareholders regarding corporate go vernance issues such as executive pay. Along with that, it will force companies to take accountability for their actions. If they do poorly, then the executives should be paid less, and vice versa. Overall, there should be a direct alignment between executive pay and the company’s

I Love You. by The Neighbourhood free essay sample

The Neighbourhood (THE NBHD) Music Review Lately a new indie band has been hitting the scene; its pop-esque, dark, and bass-heavy tone has nearly everyone in shock. Right out of California, this band is surely the type that youd imagine coming out of the ‘slums’ of California. They give themselves the name ‘Hoodlums’ because they tend to create a certain ‘young, carefree, and emotionless’ atmosphere with their music. It’s not just about the sounds; they like to intermingle with visuals in order to display their own personal perspectives on what they create. These particular factors make for an utterly unique band. This fairly new quintuplet band joined up to release an EP called, â€Å"I’m Sorry†¦Ã¢â‚¬  in early 2012. Their mass-media discovery occurred when â€Å"Sweater Weather† was released in the very same EP. Since then they’ve continued to expand their music and further develop their sound. Soon enough, they began touring across the nation and in April of 2013, released â€Å"I Love You. We will write a custom essay sample on I Love You. by The Neighbourhood or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page † which was their first album. ‘The NBHD’ tends to create music with minimal lyrics and more melodious components, which evokes a feeling of fear and power all at the same time. Fear of the world, and the power necessary to conquer it. Of course, music affects everyone differently, so why not give them a listen for yourself to decide?

Interpersonal interactions in health and social care Essay Example

Interpersonal interactions in health and social care Essay In wellness and societal attention we use many assorted methods of communicating and interpersonal interaction to pass on efficaciously in assorted environments. These methods can be influenced by many factors which may interfere with how the information we have communicated is transmitted such as linguistic communication demands. self-pride. propinquity and centripetal damage. In my essay I am traveling to explicate how centripetal damage and linguistic communication demands may act upon effectual communicating and interpersonal interactions in wellness and societal attention environments. The term centripetal damage encompasses ocular loss. which besides includes sightlessness and partial sight. hearing loss and multi-sensory damage ( Shaw Trust. 2014 ) . I will now explicate how centripetal damage may act upon the manner we efficaciously communicate and interpersonally interact within wellness and societal attention utilizing Argyle’s communicating rhythm. The communicating rhythm is arranged into 5 phases. Argyle ( 1972 ) believed that pass oning interpersonally was a accomplishment that could be developed. much similar to larning to drive. In the first phase of the communicating rhythm Argyle states that thoughts occur. An illustration of this phase of the rhythm would be a physician remembering the information they wish to pass on to a patient who suffers from multi-sensory damage with complete loss of hearing and sight. The Department of Health defines persons enduring from multi-sensory damage if their combined sight and hearing damage cause troubles with communicating. entree to information and mobility ( Action on Hearing Loss. 2011 ) . During the 2nd phase of the rhythm the message that is being communicated is coded. during this phase a physician would make up ones mind how to pass on their message towards their patient. We will write a custom essay sample on Interpersonal interactions in health and social care specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Interpersonal interactions in health and social care specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Interpersonal interactions in health and social care specifically for you FOR ONLY $16.38 $13.9/page Hire Writer In order to pass on efficaciously the physician must take into consideration which method of communicating tantrums the patients demands such as British mark linguistic communication. ocular mark framing or tactile sign language. In the 3rd phase of the communicating rhythm the message is sent. during this phase the physician has now communicated their message to the patient. nevertheless the physician has communicated his message utilizing British Sign Language alternatively of haptic sign language. In the 4th phase of the rhythm the message is received by the patient. during this phase the patient should hold successfully received the information that the physician has communicated to them nevertheless the patient has non received the message as she has lost a complete loss of sight and hence can non visually see the marks the physician is subscribing. During the fifth and concluding phase the message is decoded. Agyle theory suggests that during this phase the information has now been received and understood and the rhythm will now reiterate. This phase of the rhythm is dependent on if the individual presenting the message has used the correct and appropriate signifier of communicating based on the persons demands and the fortunes. nevertheless this is where the communicating rhythm has been unsuccessful due to the incorrect pick of method of communicating. Another common factor which may act upon the manner we efficaciously communicate and interact with people within wellness and societal attention is the linguistic communication needs of the persons. The linguistic communication needs of an person will be based upon many factors. a common linguistic communication demand may include an person who speaks English as a 2nd linguistic communication traveling to the United Kingdom. the demands of the person such as the usage of an tra nslator will depend on how fluid the person is in talking English. Using Tuckman’s theory of group formation I will explicate how linguistic communication needs can impact the manner we efficaciously communicate and interpersonally interact in wellness and societal attention environments. Tuckmans theory of group formation is arranged into 4 phases. these phases are known as forming. ramping. norming and acting. During the forming phase. the group of people are merely acquiring to cognize each other. for illustration in relation to wellness and societal attention. this would be the phase where a group of freshly employed pupil nurses run into the squad they will be working with. During the storming phase. Tuckman ( 1965 ) explains how the group of people are ill-defined about each-others functions within the group and the purposes of working together. this is the phase where the freshly formed group of pupil nurses would be seeking to pass on verbally and nonverbally with each other in order to detect their functions. strengths and failings within the group. During this phase. the group of persons would be inquiring inquiries about each other and measuring their functions within the group. Third is the norming phase. during this phase the group of people develop a sha red apprehension of what each-others functions are and portion a common purpose. during this phase one person in the squad approaches the others and state them he is a foreign exchange pupil and has merely been talking English for the past 5 old ages. therefore he is still seeking to understand the different idioms around him. The pupil nurses may get down to inquire and discourse with the person about the extent of his cognition in talking English. During this phase the persons will besides understand and be able to place countries of failing in talking English and be able to accommodate their methods of pass oning with the person in order to run into these demands. Any specific linguistic communication demands of an person should be met instantly when pass oning in order to come on through to the concluding phase of Tuckman’s theory. the acting phase. During this phase the group of persons are now working together efficaciously as a squad. for illustration during this phase the pupil nurses are now able to run into the linguistic communication needs of the foreign exchange pupil and can go on to work as a progressive squad.

Evolution of Australian Biota Assessment Answers Essay Example

Evolution of Australian Biota Assessment Answers Essay Example Evolution of Australian Biota Assessment Answers Essay Evolution of Australian Biota Assessment Answers Essay Discuss current research into the evolutionary relationships between extinct species, including megafauna and extant Australian species. Megafauna simply means large animals, in which most have become extinct within the last 20 000 to 50 000 years. The extinction of megafauna was, debatably, due to climate change and human expansion. Although, Africa still retains some megafauna, such as the elephant or the rhinoceros. Australia has managed to keep many examples of relict species, some from the time of the megafauna.These include the Crocodile, Wollemi Pine and Stromatolites. Megafauna are not direct ancestors of the current animals, rather certain animals both evolved from a common ancestor. An example of this can be seen in the Diprotodon optatum, it does not belong to the same family as the modern wombat, but they are relatives which can be observed in their similar characteristics. Their structural similarities include their skull structure, body covering, structure of limbs, ears and snout. However, the Diprotodon was huge; 3 metres long and 2 metres high, comparable to a hippoptamus.They also had pigeon toed feet, a longer nose, possibly a small trunk, a very dense coat and sharp claws. The Diprotodon flourished in the late Tertiary and declined in the Pleistocene, becoming extinct at the time humans arrived, 50 000 years ago. The Diprotodon is mentioned in some dreamtime stories, supporting the idea that human hunting and Aboriginal fire stick burning (burning vegetation for easier hunting) altering the ecosystem both contributed to the extinction of the Diprotodon. Current research into extinct megafauna and extant Australian species revoles heavily around the finding off fossils.Fossils provide Palentologists with information about the similarities and differences between species, deducing certain evolutionary relationships. Other research includes radiometric dating, providing dates for when fauna died and the possible cause. Ideas about the ecological and environmental conditions of the time can also be found from fossils and other technology today. Fossils of the Diprotodon have been found all over Australia, in places such as the Wellington caves, which have assisted Palentologists in discovering similarties and differences between the Diprotodon optatum and the modern wombat.Other forms of current research include techniques to do with DNA hybridisation, molecular biology techniques and DNA preserved in bones to discover information about evolutionary relationships. b) Identify data sources and analyse information from secondary sources and use available evidence to illustrate the changing ideas of scientists in the last 200 years about individual species such as the platypus as new information and technologies became available. The Platypus is one of Australias most unique animals, of which its origins and classifcation is still debated today.Over the past 200 years, technology has rapidly developed, causing scientists ideas about the Platypus to change and develop. When first discovered in 1798, a Platypus skin was sent to England which scientists thought was a hoax. As the specimen was observed more, it was considered to be a primitive species, but it was in fact a highly evolved form of an ancestor. It is unique from a mammal as it lays eggs, there is an absence of teeth, it also has a bill similar to that of a duck. It also has webbed feet and a short tail.However, it does have fur like other mammals and it secretes milk from special glands. As technology began to improve, scientists were able to understand how the Platypus reproduced. In 1826, it was found that it had mammary glands, and in 1884, scientists captured female eggs. In the 1940s, an Australia scientist invented the Platypussary. This was technology that attempted to stimulate its natural habitat, hoping to breed a pair. In 1943, the first Platypus was bred in captivity, which gave scientists much research into lifestyle and breeding habits; gestation and pre and post natal processes.Another scientific question was that of its body temperature, but with the development of radiotelementary scientists ideas about this changed. Radiotelementary can record body temperature and transmit this information. It has helped scientists in understanding whether the Platypus can maintain its body te mperature when swimming in cold water. Scientists have contiuned to develop their ideas through the research of amino acids, which allowed them to observe trends between the sequences of placentals and marsupials. Fossils have also been an important technological development in understanding the Platypus.As well as cell observation, allowing Scientists to discover the Platypus salt retaining kidneys. Another huge discovery about Platypus was able to come about because of new technology, the question of how the Platypus got its food. Using Electron Microscopy, scientists were able to observe the Platypus bill. The discovery was made that the bill had extremely sensitive touch receptors which helped the Platypus navigate underwater with its eyes closed, and it detected prey. They also discovered Electroreceptors on the bill, which detect tiny electrical signals, creating an image underwater for the Platypus and located the prey.Scientists have contiuned to develop their ideas through the research of amino acids, fossils, fibre optics, radio tracking, genetic fingerprinting and cell observation, which allowed Scientists to discover the Platypus salt retaining kidneys. c) Gather information from secondary sources to describe some Australian fossils, where these fossils were found and use available evidence to explain how they contribute to the development of understanding about the evolution of species in Australia.Fossils are huge scientific development which have altered and explored many scientific theories. The sequences of fossils indicates the progressive chronology of the changes in plants and animals over millions of years, the dating of rocks indicates the time periods of extinction and the type of plant and animal in the fossil depicts the environment in that past area. An example of this is within the fossil tooth from a placental mammal, about 55 million years old. This was found in Murgon.This particular fossil changed the understanding of fossil mamm alian history, as it is Australias oldest placental land mammal. This fossil now supports the theory that both placentals and marsupials lived in Australia around 55 million years ago. Another example of how fossils contribute to the understanding of evolution is in the Glossopteris flora. It is especially significant as it provides the first evidence of continental drift, as the leaf is dominant in America, Australia, Africa and India, supporting the theory that these continents had once been joined.The Glossopteris developed understanding about the Australian evolution of species as the adaptation of its thick skin indicates Australias changing climate throughout evolution. This skin prevented a rapid loss of moisture as Australia became more arid. Some important fossil sites that have developed our understanding about the evolution of species in Australia include Lightning Ridge, Murgon, Riversleigh, Bluff Downs and Wellington Caves.

Tattoo Ink Carrier Chemistry

Tattoo Ink Carrier Chemistry Tattoo ink consists of pigment and a carrier. The carrier may be a single substance or a mixture. The purpose of the carrier is to keep the pigment evenly distributed in a fluid matrix, to inhibit the growth of pathogens, to prevent clumping of pigment, and to aid in application to the skin. Among the safest and most common ingredients used to make the liquid are: ethyl alcohol (ethanol)purified waterwitch hazelListerinepropylene glycolglycerine (glycerol) However, many other substances have been and may be used, including: denatured alcohols (are toxic and can burn the skin)other alcohols (methyl alcohol or methanol and isopropyl alcohol or rubbing alcohol are commonly used, although they are toxic) ethylene glycol (antifreeze, which is toxic)aldehydes, such as formaldehyde and gluteraldehyde (highly toxic)various surfactants or detergents There are many other substances that could be found in an ink. A tattooist has the choice of mixing his or her own ink (mixing dry dispersed pigment and a carrier solution) or purchasing what are called predispersed pigments. Many predispersed pigments are as safe or safer than inks mixed by the tattooist. However, the ingredient list need not be disclosed, so any chemical could be present in the ink. The best advice is to make sure the ink supplier and the particular ink has a long history of safety. Although I have applied the word toxic to many substances listed on the pigment and carrier list, that is an oversimplification. Some of these chemicals are mutagens, carcinogens, teratogens, toxins, or else they  participate in other reactions in the body, some of which may not show up for decades.

Media News Versus You Tube Essay Example | Topics and Well Written Essays - 1750 words

Media News Versus You Tube - Essay Example The images posted on this site by the soldiers have made most Americans believe that the war on Iraq was not worth the loss of US lives. They need a full picture of Iraq to see what the gain is for that loss of life but the restrictions on media coverage do not allow this. The news media has been around for a very long time whereas, YouTube, the popular free video hosting website founded in February 2005, began its humble beginnings in a garage and offered the public a preview of the site in May 2005. And just six months later, YouTube made its official debut. Although this is an extremely large and popular site, it has met with much criticism. Videos filmed by amateur first gained popularity during the terrorist attacks on London subways and buses last summer, when traditional news organizations as well as informal websites utilized the photos and images supplied by witnesses. Now it is estimated that 100 million clips are viewed on YouTube daily and 65,000 videos uploaded every 24 hours. According to Nielsen/Netratings, the site has almost 20 million visitors each month, out of which around 44% are female, 56% male, while the most dominant age group is 12-17. Websites like YouTube, true to its motto, "broadcast yourself" allows people referring to them as "citizen journalists" to upload their own videos on an infinite array of subjects and has enabled anyone with a video camera or cell phone, live action films or written reports on news events. In relation to the Iraq war, the streamline media gives optimism to the viewers and shows the brighter side of the war, while the stories told by American soldiers in their homemade videos uploaded on this website, present a different picture. Beyond the philosophical dimensions of the global television communications, it is a close-up medium which readily involves emotions and is most effective in revealing the plights of the people. But troops who have served in Iraq and Afghanistan are hearing the message that they should carefully consider before they upload any videos on the website. As opposed to controlled media, YouTube has given access to the citizen journalists to provide first hand accounts of major events even though they are less journalism than the raw material generated by amateurs, which a skilled and trained journalist should know how to weigh, analyze, describe and explain. Therefore, one cannot deny the fact that to treat an amateur as equally credible as a professional, would be to erode the line between raw material and finished product. Many people believe that editorial gate keeping is a form of censorship if not mind control, and the explosion of the internet; giving the notion that 'information wants to be free' has made traditional journalism a ready target. To its proponents, citizen journalism represents a democratization of media and a shattering power of the unelected elite as it not only challenges the notion of journalism in journalism, but completely circumvents it. But there are people who are of the view that however wrapped in idealism, citizen journalism forms part of a larger attempt to degrade, even to disenfranchise journalism as practiced by trained professionals. However, there is no question that the soldier behind the