Construction Safety Coursework Example | Topics and Well Written Essays - 500 words

Construction Safety - Coursework Example OSHA guidelines in many states act as mere guidelines and not the law as construction accidents increase as time goes by. This has caused many states e.g. Massachusetts and Connecticut to have in place stricter guidelines that highly follow OSHA rules or supersede them. Furthermore, these states ensure that the OSHA rules are followed to the letter e.g. the 10 hr-OSHA training (Ireland, 2006). As it has been seen trenching is an area that requires huge attention as fatalities and injuries are alarmingly high. Trenching has many regulations as to safety of the workers but they are hardly followed by construction firms. The case of Robert Harrell in Texas and Martin Samaniego in California are a clear proof of how neglected OSHA guidelines are. Investigations to these cases revealed that little had been done to protect these excavators from caving in or collapsing of the trenches they were working in. These are just but two fatality cases in two dozens reported yearly in the United States. Of importance to note is that more than 1000 cases of collapsed trenches are reported annually with non-fatal injuries (Ireland, 2006). The biggest issue that concerns safety in trench-related constructions is lack of enforcement of laid down regulations or guidelines. It is sad to note that in 2004 inspections in such sites by OSHA officials proved this fact. Around 90 percent of the inspected trench sites had no protective systems in place exposing the workers to immense danger of fatalities or injuries in case of cave-ins or collapse (Ireland, 2006). The remedial action that has been in force for quite a long time is the fining system. This shows that this system has faults or loopholes that are being taken advantage of by the contractors. For this reason some firms e.g. Morrilton and Koontz Electric Co. are known to disregard OSHA rules and enforce stiffer ones in their constructions (Ireland, 2006). Although sloping,

Reforms in the International Finance System Essay

Reforms in the International Finance System - Essay Example According to the research findings the global financial crisis did not occur over night; rather it was a series of occurrences that led to the progression of the crisis, which impacted the entire world. The US National Bureau of Economic Research asserts that the financial crisis began in early to mid 2007. The most notable start of the financial crisis was the marketing and sale of US mortgage-backed securities that had risks, which proved difficult to assess. This marketing took place on a global basis that saw risks being spread out to all areas of the globe. In addition, a comprehensive credit boom exemplified the international speculative bubble witnessed in industries such as the real estate and equities industries of the global economy. This further enhanced the risky practice in terms of financial institutions’ lending capacities. Drastic increases in global food and oil prices also served to enhance the precarious financial status of the world. However, the financial crisis actually began following the surfacing of sub-prime loan losses in 2007. This uncovered risky loans and the over-valued asset prices. As loan losses increased, as well as the collapse of Lehman Brothers, a global panic broke out in the inter-financial institution loans market. When share, as well as housing prices, eventually declined, a majority of financial and investment institutions in the US incurred massive losses, with some even facing bankruptcy. This ultimately led to major public, fiscal assistance to the tumbling institutions. The global financial crisis led to a sudden decline in international trade, massive unemployment and collapse of global prices of essential commodities. In summation, the situations that led up to the financial crisis include the boom in demand for financial instruments, excessive rise in asset prices, all of which were compounded by lack of sufficient regulation. The financial crisis subsided in late 2008, but the global economy has experien ced several aftershocks. Reason behind the Financial Crisis The reason behind the global financial crisis is a complex combination of liquidity and valuation issues in the global banking sector in the year 2008. In the US, in year 2007, the global economy experienced a boost following the emergence of a real estate bubble in residential markets. The real estate bubble refers to a scenario where real estate is sold at highly inflated values. The 2007 real estate bubble