Probably the most celebrated of all actresses, Marilyn Monroe was born Norma Jean Baker on June 1, 1926, in Los Angeles General Hospital, to Gladys Baker. Gladys had been a film cutter at RKO studios, but psychological problems prevented her from keeping the job and she was eventually committed to a mental institution, because of that Norma Jean spent time in foster homes until she was 16 years of age. As an unlucky soul, Marilyn focused on her dreams of becoming a movie star.
Being born and raised to a custom of fame and fortune in her home town of Los Angeles nourished her addiction to satisfy her dream to become a star in her own way. Destiny took its place. Studying at the prominent UCLA she took evening classes in Arts and Literature. While studying there she built a network of friends in the music, arts, journalism and publishing industry which made an influence of improving her connections in the entertainment business. Her attributes set herself apart from the millions while leading her to a transformation into the astonishing Marilyn Monroe. Her personify was to her advantage, her fortune.
Marilyn’s early films lacked a prominence until she got a contract with Fox Studios and then Colombia Pictures, taking all sorts of interests such as singing lessons and stage directions. In 1948 she had starred in Groucho Marx in Love Happy and at this time Marilyn had to make a visible impression in life representing a genuine yet pure and polished Marilyn Monroe. Marilyn Monroe’s nude calendar photo made a public impression in 1949, 20th Century Fox Studios went into shock, Marilyn cooled the situation with her justification: “The human body was nothing to be ashamed of as I had to pay rent”.
Who dared to refuse the body or rent? The mass media loved this kind of material…. Marilyn had a visual aspect of alluring the companionship of writers and artists such as: Andy Warhol, Tom Wesselman, Jackson Pollack, Mark Rothko, and Carl Sandburg. Marilyn’s era concurred with the rise of Pop Art: she became a reflection of an icon, especially in New York. In the time of June 1942-1946 she had met and married a local boy, Jim Dougherty. Soon after, Norma Jeane dyed her hair blonde (borrowing her grandmother’s last name). In the state of New York she legally changed her name to Marilyn Monroe on February 23rd, 1956.
Marilyn then married Joe DiMaggio in January 1954 – October 1954, at the turning point in her young career preparing one of her biggest hits, The Seven Year Itch. Then divorce later followed. In June 29, 1956 she got married to Arthur Miller one of the greatest American playwrights in a Jewish ceremony. While married, Arthur wrote the part of Roslyn Taber in 1961’s The Misfits especially for Marilyn. The union between Marilyn and Arthur ended on January 20, 1961, and The Misfits was to be Marilyn’s (and Gable’s) last accomplished film. She studied at the Actors Studio in America and formed Marilyn Monroe Productions in 1956.
During that time Marilyn won an award in the World Film Festival, the Golden Globe awards in 1953. Best Actress for 1954 for Gentlemen Prefer Blondes and How to Marry a Millionaire. Best foreign actress in 1958 for the Prince and the Showgirl. Golden Globe Award in 1959 for Best Actress in a comedy and a Golden Globe award for Some like it Hot in 1961. At the 1962 Golden Globes, Marilyn was named female World Film Favorite, once again establishing her widespread allure. Even during her lifetime, Marilyn reached a level of recognition that made er stand out from her peers. Her quality as a movie star was indicated by the box-office success of her films, by the groundbreaking contract she arranged with her studio, and by the amount of publicity she established in the press. After Hollywood loved her… In her last and magnificent years Monroe’s life was evident of sickness and personal problems. She had abused a cocktail of prescription drugs that lasted over ten years which now had become a part of her life. She had attempted suicide numerous of times and had been committed in the past to a psychiatric wards.
Still after that her essence that was Marilyn remained untarnished. In a terrible turn of circumstances on the early morning of August 5, 1962, 36-year-old Marilyn died in her sleep at her Brentwood, California home with the phone attached to her hand. Rumors speculate of an overdose or intentionally killing herself. There was also speculation and gossip of having an affair with John F Kennedy and that she was about to go public with what she knew about JFK and Bobbi Kennedy. Also that she was murdered by ‘government agents’ to safeguard the president.
Another conspiracy incident was that Marilyn was killed by the mafia as punishment to the Kennedy’s for their attacks on them, and to expose Kennedy’s many love affairs. Now with all the aspects of her death, Marilyn had plans to work on new movies and a possible Broadway play and a televised production was in the works. So how could this be? The events that surrounded Marilyn’s death will probably never be known. What was known for certain was that a living legend mysteriously died before her time, in a mist of confusion, defamation and uncertainty. Marilyn Monroe had such an impact on American culture immensely.
Her films have become a big part of pop culture, her sweet voice, her voluptuous body, platinum blonde hair, and the events that took place in her life especially her death was legendary. Marilyn represented sexuality in comedy and popular culture. She had brought on screen and in real life innocence and childlike quality since the days of Jean Harlow in the 1950’s; to audience’s she was a mysterious soul, one that escapes individual’s minds till this day. But we still can’t deny her huge impact in the world of entertainment being an A list actress in her own right.
Let us not forget her tragic death as an alluring sex goddess of all time, with signs of uniqueness. During Marilyn’s career she had made 30 films and left one; Something’s Got to Give, unfinished. She was more than just a movie star or glamour bombshell. A global sensation in her lifetime, Marilyn’s popularity has extended beyond star status to icon. Today, the name “Marilyn Monroe” is closely associated with beauty, sensuality and effervescence. She remains a divine inspiration to all who strive to defeat personal obstacles for the goal of acquiring greatness.
Marilyn Monroe had a memorable life filled with many ups and downs. Who would think that such a successful young woman had such an unstable life? If you add her loyalty and devotion of movie stardom to the years since her death, Marilyn Monroe has been part of our lives and imaginations for nearly four decades, but her legendary status and mysticism will remain with film history forever. Marilyn Monroe is still beautifully preserved years after her mysterious death. All around the globe she is impersonated by actors and actresses and fans from all walks of life. She has been the subject of repeated Life retrospectives.
For her image became; her empire. She was one of the most graceful successful actresses of American cinema history, the world’s most photographed stars and one of the most beloved personalities of the 20th Century… Marilyn Monroe is very meaningful to me as a pop culture icon and as a reminder that successful souls can come from humble beginnings knowing that movie stars were once like us all and that they didn’t have to be starve to look like beauty queens. There is so much we know about her life but ultimately she is still a mystery to the world and her intricate persona will forever baffle us.
How could a woman so powerful be so delicate, so persistent and motivated be so self-destructive, so light have so much darkness, so much honesty can have such a gloomy past… “I knew I belonged to the public and to the world, not because I was talented or even beautiful, but because I had never belonged to anything or anyone else. ” Marilyn Monroe Written By Khristiee J
Marilyn Monroe, Still Life, July 19th, 2006 [online]. Available from: http://www. pbs. org/wnet/americanmasters/episodes/marilyn-monroe/still-life/61/. Accessed 12th of June 2010. John Kobal [ed. ] 1988, Marilyn Monroe: A life on Film.
The Hamlyn Publishing Group Limited, London. Sam Shaw and Norman Rosten, 1989, Marilyn: Amongst Friends. Bloomsbury Publishing LTD, London. Marilyn Monroe Facts, The Estate of Marilyn Monroe: CMG Worldwide [online]. Available from: http://marilynmonroepages. com/facts. html#general. Accessed on 12th of June 2010. Carl Rollyson, [ed. ] 2005, Female Icons: Marilyn Monroe to Susan Sontag. The IUniverse, Lincoln. U. S. A. pp. 23-39. John . A. McGrossan, 2000, Books and Reading in the loves of notable Americans: A Biographical sourcebook, Greenwood Publishing Group, Inc. pp. 167-170. S.
Paige Baty, 1995, American Monroe: The Making of a Body Political, The Regents of the University of California, University of California Press, California U. S. A. pp. 5-8. Marcel Danesi, 2008, Popular Culture: Introductory Perspectives, Published in the U. S. A by Rowan & Littlefield Publishers, Inc. pp. 111-112. Liz Stanley, 1990, Feminist Praxis: Research, Theory and Epistemology in Feminist Sociology, Published by Routledge a division of Routledge, Chapman & Hall Inc. pp. 262-264. Anne Verlhac, [ed. ] and Forward by David Thomson, 2007, Marilyn Monroe: A life in Pictures, First Published in the U. S. A, by Chronicle Books, LLC. pp.
Laramie Wire Manufacturing Case
Laramie Wire Manufacturing, a medium sized company, is planning an initial public offering of its stock in the next two to three years. Laramie operates in a single 500,000 square foot building complex. Laramie buys copper rod and plastic materials to produce insulated copper wiring. The building complex is composed of 3% office space, 57% production area, 15% shipping and receiving area, and 25% finished goods and raw materials inventory warehousing area. Laramie produces several different types and gauges of insulated copper wire.
All the different products Laramie manufactures use the same raw materials, meaning raw material inventory is stored in one location. Within the storage location insulated copper wire is stored on stackable spools with approximately 500,000 feet of wire per spool. The copper rod inventory is stored on 5 feet tall and 6 feet by 6 feet non stackable pallets that hold 1,500 pounds of copper rod. While plastics inventory is stored in 4 feet tall stackable barrels containing approximately 350 pounds of plastic per barrel.
Laramie is a first time client of the firm, and has hired the firm to perform a financial statement audit to prepare for the initial public offering. The senior auditor has been assigned to auditing inventories in the planning stages of the audit, and must conduct analytical procedures. A quick visual examination of inventories revealed no problems and well organized production areas. Under the Public Company Accounting Oversight Board there are several auditing standards that apply to the audit of Laramie’s inventory accounts, and the conduct of analytical procedures. AS No. , Auditing Planning, is the first standard that applies by stating that, “the planned nature, timing, and extent of tests of controls and substantive procedures…. complies with PCAOB standards. ” Secondly, AS No. 14, Evaluating Auditing Results states that, “in the audit of financial statements, the auditor’s evaluation of audit results should include evaluation of the results of analytical procedures performed in the overall review of financial statements. ” Lastly, AS No. 15, Audit Evidence, gives the audit procedures for obtaining audit evidence which includes substantive analytical procedures.
Also, AS No. 15 provides the information that, “analytical procedures consist of evaluations of financial information made by a study of plausible relationships among both financial and nonfinancial data. There are certain auditing standards that pertain to the use of analytical procedures while auditing Laramie’s inventory accounts under the PCAOB. AU 329. 08 states, “Although analytical procedures used in planning the audit often use only financial data, sometimes relevant nonfinancial information is considered as well. This is relevant to Laramie’s case because not only are financial ratios used but nonfinancial information such as, using the square footage of the building complex to assess heightened risk areas within inventory accounts. While AU 329. 08 pertains to analytical procedures, AU 331. 09 is important for how an independent auditor should examine a client’s inventory accounts.
AU 331. 09 says that, “it is ordinarily necessary for the independent auditor to be present at the time of count and, by suitable observation, tests, and inquiries, satisfy himself respecting the effectiveness of the methods of inventory-taking. The auditor usually observes inventory accounts in order to rely on Laramie’s stated condition and quantities of inventory and make a justified opinion. One analytical procedure that does not use financial data is the amount of square footage Laramie has designated for finished goods and raw inventory in its building complex. After calculating the amount of square footage available for finished goods and raw materials there was a problem with the amount reported in the copper wire inventory account for 2008.
The amount of square footage the copper wire pallets take up is more than the amount of square footage Laramie has designated for finished goods and raw materials. Therefore, more testing is needed to see if the copper wire inventory was potentially overstated in the amount of pounds in 2008. Another risk for Laramie deals with the percentage of inventory it has on hand from 2008 to support the current amount of sales. Laramie’s inventory to sales percentage increased 16. 4% from 2007 to 2008.
Therefore, this increase shows either that Laramie has trouble keeping inventory accounts down or net sales are slowing relevant to the amount being produced. Also, the increase shows Laramie may have overstated inventories meaning there may be an existence issue. There is a need for further attention to the potential overstatement of inventories because the increase in inventory to sales shows that Laramie is not using its resources efficiently. When calculating the percentage change in inventories, an issue arises when using either the lower cost of market or the market value.
When looking at the calculations for finished goods inventory (insulated wire) and copper rod inventory Laramie has applied the lower cost of market. However, the calculation pertaining to plastics inventory reveals that the market value should be used for classification, but Laramie has used cost. The percentage change of the plastics inventory if the $. 12 per pound is used is a 27% decrease. The importance of classifying inventory correctly either with the market value or cost value ensures inventory is stated correctly on the balance sheet.
With Laramie’s increase in its inventory turnover ratio from 2007 to 2008 the business may not continue as a going concern. Laramie’s status as a going concern business, meaning it has the ability to function as a business for the foreseeable future, will be at jeopardy if inventories continually grow (Messier, pg. 591). Laramie holding more inventories each year puts the company at risk of not being able to pay off liabilities such as accounts payable, and not being able to realize assets such as accounts receivable.
With the above facts pertaining to Laramie, the first management assertion being problematic is existence. Under AU 329. 08, an auditor is allowed to use not only financial data but relevant nonfinancial information to perform analytical procedures. Nonfinancial data was used to find that the copper rod inventory does not fit in the designated amount of space for finished goods and raw materials in the building complex. Laramie has an existence problem because either it has less inventory than what is stated or there is more storage room than it has documented.
As a result, either inventory is understated or overstated on the balance sheet for 2008. Secondly, an obvious management assertion with problems relating to inventory accounts is valuation. When valuing inventory on the balance sheet Laramie should use the lower of cost or market value. However, Laramie did not use the right valuation method pertaining to the plastics inventory. Laramie as a company will be at risk in the area of valuation due to the fact of its price, inventory, and sales changes from 2007 to 2008.
Laramie being a manufacturing company may have problems with the management assertion of completeness even though the analytical procedures did not point to any problems. An issue may arise within Laramie because they deal with two different types of raw materials, copper and plastics. Also, the production area is divided into three areas containing residential, industrial, and special-order products. Therefore, having a large production layout and different raw materials to account for Laramie could miscount the amount of raw materials on hand.
Also, Laramie places its finished goods inventory and raw materials inventory next to each other. This may also cause a problem when trying to count the number of spools that are in finished goods inventory and the amount left in raw materials inventory. A fourth management assertion Laramie may have difficulties with is cutoff. Laramie may not be able to ensure it has recorded its inventory transactions in the correct period. Laramie tags the spools of insulated copper wire the day customers request the spool.
However, depending if Laramie is on the cash or accrual basis there is a possibility that the date requested and the date the inventory is shipped are not the same. Therefore, if an error occurs a transaction recorded in the wrong time period could affect the ending balance of the inventory account. The fifth management assertion Laramie must look over is its rights and obligations. Risk may rise when Laramie sells a spool of insulated copper wire to a customer, because an issue of who pays the transportation costs arises pertaining to the free on board point.
If free on board destination is agreed upon this means more risk for Laramie because the company takes the risk of damages and pays shipping charges. The reason being because ownership of the spool does not transfer to the customer until arrival (Wild, pg. 158). As a result, Laramie needs to make sure free on board origin is agreed upon in order to minimize its risk.
Messier, William F. , Glover, Steven M. , Prawitt, Douglas F. Auditing & Assurance Services: A Systematic Approach. 7th ed. New York, NY. McGraw Hill, 2010. Wild, John J. Financial Accounting: Information for Decisions. 4th ed. New York, NY. McGraw Hill, 2008.
The Life Of John Nash
John Nash was a mathematical genius who changed the face of game theory with his equilibrium theorem. Its influence, over the course of his life, spread into areas such as biology, economics and a multitude of others. From Princeton onward, Nash made a splash on the mathematical scene, but also struggled with schizophrenia throughout his life. He was able to overcome this obstacle through the use of his mind. This struggle in tandem with his talent marked him as a unique genius within the realm of math theory and history.
The mathematician John Nash is a fascinating figure who made strides both in the world of mathematics and in his personal struggle with schizophrenia. His life began on June 13, 1928 in the town of Bluefield, Virginia (Nasar, 1998, p. 30). His schizophrenia showed early on in school, cropping up in issues with socialization and being immature in comparison to his peers. But he made up for this with an insatiable, curious mind that loved to explore and test the things that he learned about (Nasar, 1998, p.31-32).
His first touch with mathematics occurred in his early teens when he read the book Men of Mathematics by E.T. Bell. This was the first step in his discovery of his own enjoyment of working to bend his mind around mathematical questions (Nasar, 1998, p. 34). As he continued on through school, Nash’s poor social skills continued to set him apart from his peers, but he developed used two defense mechanisms to buffer him: his mind and a layer of stout aloofness (Nasar, 1998, p. 38).
His collegiate work began at Carnegie Tech in Pittsburg Pennsylvania to major in electrical engineering. His skill in his math courses soon incited his professors to encourage him change his major to math. His social problems continued, setting him apart from the other students. He would gain more acceptance at Princeton, where his natural ability overshadowed his sometimes eccentric behavior (Nasar, 1998, p. 42).
It was during his time at Carnegie that Nash was exposed to the subject that would later be so infinitely influenced by his work at Princeton: economics. He chose this class, titled “International Economics,” as an added course. This one class provided the only exposure he would have in this area that later became part of his work with game theory and the problem of bargaining (Frangsmyr, 1994).
As Kuhn discusses in The Essential John Nash, at Princeton Nash had his own approach and was able to grow here in an environment filled with the greats. John von Neumann and Einstein were just two examples of the talented minds that he was exposed to. His eccentric behavior continued, as he would walk continually and stay away from class. Nash’s focus was on discovering the ultimate unsolved problem in math, and would involve himself in discussion with whoever might have information regarding one (Kuhn & Nasar, 2002, p. xvi).
He had early achievements at Princeton, one of which was his conception and making of a board game that he titled “Nash.” It became popular with the other students, who loved to play it. Its importance lay in a hint of what was to come in the future when he got enamored in game theory. He attended one of Princeton’s many seminars, and one given by Professor Albert Tucker on game theory caught his attention. It inspired Nash to take on a problem that was had been around in the realm of economics for a long time: the issue of bargaining (Kuhn & Nasar, 2002, p. xviii).
Nash attacked the problem of bargaining in a paper written while at Princeton. He outlined the idea that bargaining involves two people involved in a “game.” These two individuals approach the game using practical reasoning by working together so that both of them benefit from the outcome (1996, p. 155). Ultimately, the two involved use their individual skills at bargaining to reach a solution that also helps each individually (Nash, 1996, p.156).
Past work on bargaining had focused on competition between those trading goods, but this was not always the situation. The problem of accurately describing the behavior of the two individuals involved outside a situation of pure competition was met with a brick wall, until Nash (Nasar, 1998, p. 89). His idea as, as Nasar explains, took into account that those involved could work together to arrive at a solution and they would have alternative possible solutions as well (1998, p. 90).
His theory has been tested and established repeatedly over the decades, and has been found to be useful in business and economics, which is dependent on the interplay between those involved (Kotler, 1980, p. 540; Webster, 1979, p. 62-63 as referenced in Nelsin & Greenhalgh, 1986, p. 3).
His paper led him to gain attention from the RAND Corporation, which was an Air Force supported “think tank” full of scientists and other personnel that did math for the military. The work involved issues such as the performance of weapons, targeting for bombs and interaction of parties in a conflict (or war). Nash joined this group in 1950 (Nasar, 1998, p.104-105). His eccentric behavior was still present here, such as walking the hallways of the building endlessly. This did not take away from his aura as a talented mathematician (113). Sylvia Nasar sums up his status at this time in the math community in her 2002 lecture at MIT: I learned that by the time John Nash was thirty years old he was already a celebrity in the rarified world of mathematics. He was a brilliant student at Princeton in the late forties and a rising star here at MIT in the 1950’s.
During his time at MIT, Nash worked as an instructor from 1951 to 1959. He did work with “differential geometry,” finding the solution to a past problem and related areas. This was also a key time in his life, as two major shifts occurred. The first was meeting and marrying his wife, Alicia. The second involved the gradual alteration in his thinking, as Kuhn quoted him, “Now I must arrive at the time of my change from scientific rationality of thinking into the delusional thinking characteristic of persons who are psychiatrically diagnosed as “schizophrenic” or “paranoid schizophrenic (2002, p. 9).”
In 1959, Nash had to be put into the hospital for observation after his condition had become more serious. He left MIT and spent the next few years in and out of hospitals for the same reason, without his consent, for treatment (Kuhn & Nasar, 2002, p.10). As John Nash aged into the 1970’s, he made a return to Princeton. He became a well known figure to students who would wander the campus, working math solutions on blackboards around Fine Hall, and received the nickname of “the Phantom (Nasar, 1998, p. 332-333).”
As the years progressed and he aged, his schizophrenia became more manageable and he was able to Nash’s mind, was over time able to find a middle ground where he could return his thinking to a more rational viewpoint, and put aside many of his “delusions (Kuhn & Nasar, 2002, p.10). He began a return to life of an active mathematician, and by the 1980’s his writing on various problems began to pop up in journals and other literature again. The journals his work appeared in dealt primarily with the realm of economics, which his earlier ideas had worked such as enormous influence on (Nasar, 1998, p. 353-354).
John Nash’s ultimate achievement was winning the Nobel Prize in economics in 1994. Nash’s work with game theory, bargaining and his equilibrium had forged a huge change in the world of economics. His work is taught in universities, governments use it in making policy in a number of areas and it can be applied to numerous situations to find solutions. It has and continues to affect many arenas in the public sector (Nasar, 1998, p. 374-375).
Nash’s contributions are shadowed and enhanced by his schizophrenia. He was inhibited by it during a good portion of this life, but at was able to overcome it of his own accord. During this struggle, his research was able to forge great change in many avenues. This is part of what makes his life so interesting and astounding at the same time.
John Nash summed up his future goals after winning the Nobel Prize by saying: Statistically, it would seem improbable that any mathematician or scientist, at the age of 66, would be able through continued research efforts, to add much to his or her previous achievements. However I am still making the effort and it is conceivable that with the gap period of about 25 years of partially deluded thinking providing a sort of vacation my situation may be atypical. Thus I have hopes of being able to achieve something of value through my current studies or with any new ideas that come in the future.
- Frangsmyr, Tore. (ed.). (1994). Les prix nobel: The nobel prizes 1994.
- Stockholm:Nobel Foundation. Retrieved 29 May 2010 from http://nobel prize.org/nobel_prizes/economics/laureates/1994/nash-autobio.html
- Kuhn, Harold W. & Nasar, Sylvia (eds.). (2002). The essential john nash.
- Princeton: Princeton University Press. Retrieved 27 May 2010 from http://www.google.com/books?id=IvOjnugbg7AC&printsec=frontcover&dq=John+Nash&cd=2#v=onepage&q&f=false
- Nasar, Sylvia. (1998). A beautiful mind: The life of mathematical genius and nobel laureate john nash. New York: Touchstone.
- Nasar, Sylvia (2002). A beautiful mind: Genius, madness, reawakening dr. Sylvia nasar. [lecture video recording]. MIT. Retrieved 29 May 2010 from https://mitworld.mit.edu/video/39/
- Nash, John F. (1996). Essays on game theory. Northampton: Edward Elgar Publishing, Inc.
- Nelsin, Scott A. & Greenhalgh, Leonard. (1986). The ability of nash’s theory of cooperative games to predict the outcome of negotiations: A dyad-level test. Management Science, 32, p. 480-498.