How has the internet changed the way we buy Essay

How has the internet changed the way we buy - Essay Example Online shopping is a hot and growing trend because the lifestyle of consumers has changed due to the fast pace environment of the 21st century. Americans are working longer hours and in most families, both the man and woman must work in order to be able to pay their living expenses. Shopping online has become a way to acquire goods without the hassles of having to go to the stores. Many people simply do not have the time to commute to a store to acquire goods. Using the internet to make purchases is a mechanism that allows people to browse through stores out of the comfort of their homes. Another great benefit of online shopping is that most goods online are cheaper than at retail stores. The reason that online stores are able to offer lower prices is because e-commerce websites have lower overhead costs than traditional stores. They do not have to pay fix expenses such as building rent, utilities, insurance, and an online operation can be run with lower labor costs. Another advantag e of online shopping is that customers have thousands of websites to choose from, thus comparative online shopping can be achieved at a fraction of the time that it would take a shopper to visit a bunch of stores to find an item in a retail setting. Another tremendous benefit that e-commerce provides customers is product variety. A person shopping online can search various websites to compare prices at a fraction of the time that it would take a retail shopper. Shoppers online also have the ability to shop from international stores. The internet also offers specialty websites such as EBay in which shoppers can find incredible bargains due to the auction mechanism of the website. We are currently living in the convergence economic age. In this new economic era a wide variety of technologies are converging to allow people to connect devices to achieve penetration of the internet using new innovative tools such as smartphones. The smartphones are another key instrument

Human resources case 2 Essay Example | Topics and Well Written Essays - 750 words

Human resources case 2 - Essay Example Previously the company only provided a few health care programs to its employees. This has lowered the cost of benefits for the company to a certain extent. Currently the company is offering four different health care plans to its employees. This flexibility allows the employees to choose a health care plan that suits their personal needs. Offering multiple health care plans has proven cost effective for FedEx because not all employees need an extensive health care plan. Some employees will be happy to take a limited health care plan and will be happy to take more of their income to home. The flexibility offered by the company will allow them to customize their health care plans and to decide how much income they want to set aside for health care plan. Employees who would choose programs that offer less coverage will only be eligible for a limited number of benefits. This will drive down the cost of the firm. Previously the firm offered a few health care plans to its employees. This made employees obligated to have benefits that might not be suited to them. This also increased the cost of health care benefits because the firm was more exposed. Firm had to provide the same level of benefits to all of its employees. By offering different health care coverage plans, the firm has made itself less exposed to risk because some people would choose a plan that offers less health care benefits which will reduce the liability of the firm. This is how FedEx has taken a very good step to slow down increases in cost of benefits by allowing its employees to choose from different health care plans. FedEx has started many programs like disease management program, training program, and nursing hotline to help its employees with their health related issues. These programs are aimed at helping employees of the company maintaining good health and fight diseases and other illnesses swiftly. All these programs are also playing a great role in decreasing

Commercial company Essay Example for Free

Commercial company Essay Select a major industrial or commercial company based in the United States and listed on one of the major stock exchanges in the United States. Each student should select a different company. Avoid selecting an insurance company or a bank, because the financial ratios for these financial businesses are different. Write a seven-to-eight-page double-spaced paper answering and demonstrating with calculations and financial data the following questions. 1. What is the name of the company? What is the industry sector? Starbucks Corporation is in the Food and Beverage industry 2. What are the operating risks of the company? Economic conditions in the US and certain international markets could adversely affect Starbucks’ business and financial results. – as a retailer Starbucks is dependent upon the customer’s discretionary spending. Customers may have less money for discretionary purchases as a result of job losses, foreclosures, bankruptcies, increased fuel and energy costs, higher interest rates and taxes. Decreases in customer traffic will negatively impact financial performance. Starbucks may not be successful in implementing important strategic initiatives or effectively managing growth, which may have an adverse impact on our business and financial results. – there is no assurance that Starbucks will be able to implement strategic initiatives and achieve the results that are within management’s expectations. These initiatives are designed to create growth, improve operations and drive long-term shareholder value. Starbucks face intense competition in each of our channels and markets, which could lead to reduced profitability. Starbucks is highly dependent on the financial performance of the America’s operating segment – the Americas operating segment contributes 74% of the total net revenues in fiscal 2013. Starbucks is relying on the success in the European/ Middle East, China/Asia Pacific operating segments to achieve overall growth targets. Other international operations are also subject to additional inherent risk when conducting business abroad. Of which, include: Forex rate fluctuations. Changes or uncertainties in economic, legal, regulatory, social and political conditions in international markets. Restrictive actions of foreign or US governments affecting trade. Enforceability of intellectual and contract rights. Local laws Disruption in energy supplies. Delays in store opening beyond the control of management. Increases in the cost of high-quality Arabica coffee beans or other commodities. Disruption in the supply chain, which will impact the ability to deliver Starbucks’ products. The loss if key personnel or difficulties in recruiting and retaining qualified personnel Adverse public or medical opinions about the health effects of consuming Starbucks’s products, as well as reports of incidents involving food-borne illnesses, food tampering or food contamination. Starbucks relies heavily on information technology in operations, and any material failure, inadequacy, interruption or security failure of that technology could harm Starbucks’ ability to effectively operate the business. Failure to comply with local laws and regulations. 3. What is the financial risk of the company (the debt to total capitalization ratio)? Market Cap: 56.69 BN Debt: 2.05BN Debt/total cap ratio = 0.036 (yahoo.com, 2014) 4. Does the company have any preferred stock? The company does not have preferred stock. 5. What is the capital structure of the company: short-term portion of long-term debt, long-term debt, preferred stock (if any), and market value of common stock issued and outstanding? short-term portion of long-term debt 357.7 Million Long-term debt 1,299 Million Preferred Stock 0 Market value of common stock 56.69 Billion 6. What is the company’s current actual beta? 0.95 7. What would the beta of this company be if it had no long-term debt in its capital structure? Unlevered Beta using Hamada equation = Beta /[1+(1-T) x (D/E)] Beta : 0.95 Marginal Tax Rate, T: 32.8% D/E: 0.036 Unlevered Beta = 0.96 / [1+(1 -0.328)*0.036] =0.937 8. What is the company’s current marginal tax rate? Income taxes for the fiscal year ended 2012 resulted in an effective tax rate of 32.8% compared to 31.1% for fiscal year 2011. (Starbucks Coffee Company, 2013) 9. What is the price earnings multiple of the company? Price to earnings ration. This ratio is used in conjunction with other metrics to give analyst and investors are quick initial impression of whether a company would make a good investment. (investopedia, 2014) Starbucks P/E ratio is 385.05 10. How has the company’s stock been performing in the last 5 years? Starbucks share price 282.32% in the last 5 yrs. 11. Would you invest in this company? Why or why not? I would invest in Starbucks. SBUX has the highest P/E ratio among its competitors. Their cost of debt is low compared to their cost of equity. That is why they are relying on debt for their expansion. Their dividends per share have been increasing yearly. 18. The last page of your paper should be a Bibliography of the sources you used to prepare this paper. Bibliography investopedia. (2011, feb). Cost of Equity. (investopedia) Retrieved septmeber 2014, from Investopedia: www.investopedia.com/terms/c/costofeqquity.asp investopedia. (2014). Definition of Prince Multiple. Retrieved from www.investopedia.com: www.investopedia.com/terms/p/princemultiles.asp Starbucks Coffee Company. (2013). Fiscal 2013 Annual Report. Investor Relations. Seattle: Starbucks Coffee Company. yahoo.com. (2014, september). Yahoo Finance. (Yahoo.com, Producer) Retrieved september 2014, from Yahoo finance: finance.yahoo.com/q/ks?s=SBUX+Key+Statistics

Global Warming: Are Humans to Blame? Essay -- Climate Change, Greenhou

Global Warming: Are Humans to Blame? An English major with a minor in Meteorology, I have a huge passion in learning about the weather. I love doing research on all aspects of the weather, but one topic has remained controversial for years and that is the cause of global warming. I decided to do some research on the issue in hopes of coming up with some type of conclusion based on the facts that I am able to find. The question always arises as to whether humans are to blame for our current global warming. Do humans in fact pose a threat to the global warming crisis and are they to blame for the slow increase in temperature of the earths atmosphere? Before one can begin to argue the facts whether or not humans have an influence in the condition of our atmosphere, one must first learn exactly what global warming is. To begin a discussion about what global warming entails, I must first explain the greenhouse effect. When solar radiation enters the earth’s atmosphere some of the energy is absorbed by the earth, while the rest is refracted back into space. During this process, when radiation emits from the surface back into the atmosphere, greenhouse gases such as water vapor, Carbon Dioxide (CO2), and Methane trap some of the radiating heat in our atmosphere and cause the surface of the earth to warm up. This is a natural process that has occurred on earth even before the existence of humans, and still naturally occurs today. Moreover, clouds, or large masses of water vapor, are natural absorbers and refractors of energy. Although they reflect more solar energy than they absorb, they still help to maintain a warm and tolerable planet for all living kind, thus clouds play a big part in the warmin... ...on the facts presented, it is up to you to decide which theory you believe in. Bibliography Burroughs, William J. et al. The Nature Company Guides Weather. Sydney, San Francisco: Time-life Custom Publishing, 1996. (1997, October 31). Common Sense About Global Warming Editorial: The Toronto Globe and Mail [10]. Canada’s National Newspaper The Globe and Mail. Available at: http://www.carleton.ca/~tpatters/teaching/climatechange/ewarming.html (2001). Global Warming frequently asked questions. National Oceanic and Atmospheric Administration (NOAA). Available at: http://lwf.noaa.gov/oa/climate/globalwarming.html Lyons, Walter A. The Handy Weather Answer Book. New York, New York: Accord Publishing Ltd., 1997. National assessment on climate change [12]. Hot Planet. Available at:http://www.weather.com/newscenter.specialreports/hotplanet/

Time Warner Cable

Large-scale mergers between media companies are becoming more and more commonplace in recent years causing alarm to consumers and industry analysts. The result of these mergers has been a consolidation of market competitors causing media ownership and influence to be controlled by a smaller and less diverse group of firms, the essence of anti-competitiveness. Most recently, Compact announced its intent to acquire Time Warner Cable (ETC) which, if approved, will unite the two biggest companies in the cable television market (Steelers, 2014).The merger would give unprecedented power to the newly merged company which would over 30 percent of the pay television subscribers (Baker, 2014). The fact is that separately, Compact and ETC already have market power in numerous local geographic markets. Compact is the nation's largest provider of pay television with 22 million subscribers (41 percent of all homes and businesses in the geographic areas in which Compact operates). ETC is the second largest cable television company with 1 1. 2 million subscribers.After the merger, approximately one third of all cable television bickerers will be Compact customers sparking concern about the amount of leverage and influence one company should control (Rhombohedra & Camilla, 2014). There are varying opinions about the kind of economic industry cable television market operates in. Many argue that cable television is a â€Å"natural monopoly' (source). Economics professor, Thomas Delivered, explains, natural monopolies occur when production technology, such as relatively high fixed costs, causes long-run average total costs to decline as output expands.In such industries, the theory goes, a single reducer will eventually be able to produce at lower cost than any two other producers, thereby creating a ‘natural' monopoly. Higher prices will result if more than one producer supplies the market. (Delivered, 1996, p. 43) Natural monopolies are created when the initial investment in the framework and infrastructure required to enter the market are so high that it discourages other firms from coming into the market. Installing cable lines is an example of the high cost of starting a business in the television industry and a â€Å"first come, first serve† mentality for natural monopolies.Implementing the cable lines is considered a sunk cost and is one reason why there are such overwhelming difficulties to entry in the cable industry. With natural monopolies, economies of scale are also very significant so that minimum efficient scale is not reached until the firm has become very large in relation to the total size of the market allowing it to recoup its investment. The graph below shows the demand curve of a natural market economy (Economics Online, 2014). When price is allowed to be set by the company (P), it results in higher levels of profit and manipulation of the market.The company's main concern is in the bottom line and maximizing its profits. The chart also shows a potential price (Pl) that would result if there was some regulation; for example, government imposes a price cap and the company operates at a loss. The cable television industry has also been described as a â€Å"patchwork of micro-monopolies† (Honda, 2011, p. 1). Since there are a small number of large companies that compete on the national scale, some argue that the industry cannot be classified as a monopoly or natural monopoly.However, the market structure, permitted and/or encouraged by the government, is set up so that Hess companies do not compete on the local level which results in small scale monopolies and little to no choice for the consumers. A 2011 survey by the Federal Communications Commission concluded that 61. 5 percent of customers had only one choice of cable provider in their neighborhood (Marten, 2012). The theory is that through local government legislation and result in nearly non-existent competition on the local level between c able companies has led to a non-competitive oligopoly (Shafer, 2014).Although the cable industry natural monopoly may have made sense initially, the companies that have been able to benefit from this market structure have exploited the consumer and been able to charge high prices for mediocre products. Many of the government regulations that were initially implemented at the onset on the industry were controversial; firms paid franchise fees enabling them to obtain decisions through offers of building public access studios and regulating the rates of the politicians' Jurisdiction (Shafer, 2014).Notwithstanding the exact classification, there is a general consensus that too few companies in the cable television industry hold too much power. It is evident when comparing the service that the American public receives in terms of cable television and broadband from these companies to other developed nations that we consumers receive far less. Americans pay more for their personal service that in any other industrialized country except Chile, Mexico and Turkey (Crawford, 2014).In the United Kingdom, the government forces the cable companies which dominate the market to lease their networks to competitors at cost. This weakening of one of the major barriers to entry in the system has created competition and brought prices down considerably to the UK population (Caddis, 2014). There are many negative consequences for consumers when industries operate in monopolistic or near monopolistic competition. This is especially true when the industry is related to the media and has a great deal of influence on what the public is seeing and hearing.First, the media market will be too reliant on and loyal to large corporate sponsors. The industry will become singularly focused on what it can get from the consumer rather than concern with public interest. Second, a small number of colossal companies will represent the interests of their stockholders, usually America's upper-class. Third, there is a lack of competition in the marketplace which leads to higher prices to the consumer and a lack of innovation in the products offered. These problems are exemplified by both ETC and Compact.In 2012, ETC spent Just 9 percent of its $41 billion revenue on maintaining and upgrading their equipment and networks (Hilt, 2013). Compact spent even less, 3. 7 percent of its $118. 3 billion revenue. There is little reason to believe that two companies spending such a small percentage of their revenue on making improvements to their products and services would change their strategy cost-merger. Consumers are already troubled with the possibility that the merger will be approved. Cable television companies already have critically low satisfaction scores among their clients.ETC and Compact are the two worst offenders in the industry. In 2013, the American Consumer Satisfaction Index gave the two companies the dubious distinction of having the lowest rated television and interne t services in the United States (Ezra, 2014). According to Yogurt's Barehanded, Americans do not want ETC and Compact to merge (Including, 2014). The television cable industry is notoriously retrieved by consumers in general and the announcement of the merger has caused the perception of the two companies to drop even further. The following chart shows how consumers are reacting to the $45 billion deal.In many cases, customers have no recourse other than cutting the cable cord completely if they do not choose Compact or ETC. There are many non-cable media options for the public to patron however, one major section of the population has no choice but to subscribe to cable: sports fans. This is of particular concern to the Dodgers and Lasers fans in Los Angles. Currently, ETC spent billions to obtain eradicating right to both massively lucrative sports franchises (Baker, 2014). This allows ETC to extract steep subscriber fees to its non-cable competition.When the negotiations between the companies stall or are incomplete, ETC blacks out the games to those who do not subscribe to ETC. This is especially problematic for sports fans who do not have the choice to become customers of ETC since the company does not even offer services in their region. Additionally, those customers who cut the cable cord are likely only able to access internet through the same company that was already overcharging for their television service. They will be able to watch Nettling or Hull instead of cable television but will still have to pay Compact in order to do so.It creates a catch-22 in the industry and very little choice for consumers in terms of who they select as their service provider. The merger between Compact and ETC will have a much greater impact than simply in the cable television industry alone. There will be a ripple effect in internet and phone service as well as the other media that these companies own such as NBC Universal and Sportsmen. The merged company's control will be more widespread because of their various endures making it all the more potentially harmful to the consumer.

Patient Protection and Affordable Care Act (Ppaca)

I. Overview The purpose of this paper is to present a brief overview and timeline of the Patient Protection and Affordable Care Act (PPACA) that was signed into law by President Barack Obama on March 23, 2010 and to discuss its potential impact on healthcare access, costs and quality, and insurance companies. . II. Healthcare Reform Timeline The PPACA includes comprehensive reforms that will take place over the next four years. It is intended to hold insurance companies more accountable, protect consumers, lower health care costs, increase the quality of care and provide more health care choices and improved access for all Americans. Some of the major provisions and their effective dates are outlined in the following sections. A. 2010†¦show more content†¦B. Improving Quality and Lowering Costs The payment incentives provided to healthcare providers under the PPACA will most likely lead to improved healthcare quality. In addition, reimbursement will shift from being based on quantity to being value-based which will in turn incentivize providers to provide higher quality care. Although the Congressional Budget Office reported that the PPACA will reduce the U.S. budget deficit, it is doubtful and remains to be seen what will actually happen. Also, it is anticipated that businesses will pay the fines imposed by the PPACA because it will be cheaper than obtaining insurance coverage for the employees. C. Holding Insurance Companies Accountable A major pro of the PPACA is that it establishes several new rules and controls for insurance companies including requiring that they cannot deny coverage for pre-existing conditions, must spend a certain percentage of premiums collected on actual patient care costs. These new rules provide protection for consumers and ensure insurance companies are held accountable for the care and services provided to patients that are enrolled in their plans. Another major issue that has raised considerable debate and even led to law suits being filed is the constitutionality of the PPACA. Those who oppose healthcare reform argue that it is unconstitutional for Congress to require that every person purchase health insurance. However, the PPACA improves access to healthcare whichShow MoreRelatedThe Patient Protection and Affordable Care Act (PPACA)1660 Words   |  7 Pagesï » ¿The Patient Protection and Affordable Care Act (PPACA) is one of the most substantial reforms in Medicare since 1965. This is now considered the law of the land according to Douglas Holtz-Eaton. The PPACA portrays a â€Å"coverage first† strategy. â€Å"Sadly, a review a of the state’s experience bodes poorly for the future of national reform.† (Point/Counterpoint 177) There are two major driving factors in which could propose a threat for this reform. The first factor is it costs too much. Many decadesRead MoreThe Patient Protection And Affordable Care Act ( Ppaca )978 Words   |  4 Pagesdidn’t have a lot knowledge on the Patient Protection and Affordable Care Act (PPACA). I know that the excuse of not having to rely no public health care is not a reason to be less knowledgeable, but is the truth. I know that I have said before that I’m concerned with health care after the military, but I do have a little time to figure it out. The reading assignment Remaking the American Health Care System was very help in assisting me with understanding the PPACA a little bit more. Even thoughtRead MoreThe Patient Protection Affordable Care Act ( Ppaca )3791 Words   |  16 PagesThe Patient Protection Affordable Care Act (PPACA) is a federal statute that was signed into law on March 23, 2010 by the Obama Administration. PPACA is more com monly referred to as the â€Å"ACA† or â€Å"Obamacare†. â€Å"A primary goal of the ACA was to increase access to health care services, largely through major expansions of state Medicaid programs in 2014 and beyond† (Wilk, 2014). The quest for health care reform began in the early 1900s and has become increasingly more debated throughout the century. TheRead MoreThe Patient Protection And Affordable Care Act ( Ppaca )1905 Words   |  8 Pages There is also transformation in health care and nursing will change from the acute setting into the community setting. The evolving practice is changing from treating of illnesses to wellness and prevention. The 2010 Patient Protection and Affordable Care Act (PPACA) signed in law helped millions of Americans get health insurance,; and thus increased patients seeking health care. Over thirty millions more Americans now have access to equal and affordable health insurance as quoted by Sochalski Read MoreThe Patient Protec tion And Affordable Care Act ( Ppaca )916 Words   |  4 Pages With the establishment of the Patient Protection and Affordable Care Act (PPACA), more and more Americans are able to have access to the healthcare, but roadblocks have occurred in the road to get there. After the signing of the bill into law, about 26 states filed a lawsuit in the setting of a federal court. This was done to challenge the constitutionality of the individual mandate (individuals must possess a minimum level of health insurance or face financial penalties) and the Medicaid expansionRead MoreThe Patient Protection And Affordable Care Act ( Ppaca )1508 Words   |  7 PagesIntroduction The Patient Protection and Affordable Care Act (PPACA), also known as the Affordable Care Act (ACA) or also known as Obamacare is a federal signed statute that was signed into law by President Barack Obama on March 23, 2010 (Secretary, 2015). According to Persad (2015), â€Å"the ACA may be the most important health law statute in American history† (Persad, 2015, pg.119). With the passing of the ACA, the coverage that American citizens now receive is very beneficial since its coverage extendsRead MoreThe Patient Protection And Affordable Care Act ( Ppaca )1869 Words   |  8 PagesProfessor Grant ENC 1101 26 April 2015 ObamaCANT: Healthcare That Can’t Provide For Americans The Patient Protection and Affordable Care Act (PPACA), also known as the Affordable Care Act or â€Å"Obamacare,† is a federal law that forever changed America on March 23, 2010. The intention of this law is to provide millions of American citizens who are uninsured or underinsured with reasonable and affordable healthcare coverage. Unfortunately, the law has failed to do so in several ways and has actuallyRead MoreThe Patient Protection And Affordable Care Act ( Ppaca )1968 Words   |  8 PagesThe Patient Protection and Affordable Care Act (PPACA), also known as the Affordable Care Act (ACA) or, more commonly, Obamacare, is a United States federal statute signed into law by President Barack Obama on March 23, 2010. The law mandates United States citizens to obtain health insurance coverage and businesses of 50 or more full time employees) to provide health insurance to its’ employees. Should you not be covered, a penalty will be imposed. The concept of providing every person in theRead MoreThe Current Patient Protection And Affordable Care Act ( Ppaca )2437 Words   |  10 Pages the American people and the media all have differing opinions on the direction of such a reform. The following is an investigative review of the current Patient Protection and Affordable Care Act (PPACA), which is the latest attempt at reform and the most ambitious healthcare reform in the history of the United States. The core design of PPACA is to ultimately provide universal healthcare to the nation. The present review of literature addresses both the benefits/deficits, implementation and evaluationRead MoreObamacare : The Patient Protection And Affordable Care Act ( Ppaca )1237 Words   |  5 PagesObamaCare, officially known as the Patient Protection and Affordable Care Act (PPACA) but sometimes also referred to as the Affordable Care Act (ACA) for short, reforms the health insurance industry and the American health care system as a w hole. The law brings forth many changes for the American families that make healthcare more affordable and accessible. The law focuses on four aspects of improvements in healthcare for Americans: affordable insurance for individuals and small business owners,

Francisco Pizarro, Spanish Conqueror of the Inca

Francisco Pizarro (ca. 1475–June 26, 1541) was a Spanish explorer and conquistador. With a small force of Spaniards, he was able to capture Atahualpa, emperor of the mighty Inca Empire, in 1532. Eventually, he led his men to victory over the Inca, collecting mind-boggling quantities of gold and silver along the way. Fast Facts: Francisco Pizarro Known For: Spanish conquistador who conquered the Inca EmpireBorn: ca. 1471–1478 in Trujillo, Extremadura, SpainParents: Gonzalo Pizarro Rodrà ­guez de Aguilar and Francisca Gonzalez, a maid in the Pizarro householdDied: June 26, 1541 in Lima, PeruSpouse(s): Inà ©s Huaylas Yupanqui (Quispe Sisa).Children: Francisca Pizarro Yupanqui, Gonzalo Pizarro Yupanqui Early Life Francisco Pizarro was born between 1471 and 1478 as one of several illegitimate children of Gonzalo Pizarro Rodrà ­guez de Aguilar, a nobleman in Extremadura province, Spain. Gonzalo had fought with distinction in wars in Italy; Franciscos mother was Francisca Gonzalez, a maid in the Pizarro household. As a young man, Francisco lived with his mother and siblings and tended animals in the fields. As a bastard, Pizarro could expect little in the way of inheritance and decided to become a soldier. It is likely that he followed in his fathers footsteps to the battlefields of Italy for a time before hearing of the riches of the Americas. He first went to the New World in 1502 as part of a colonization expedition led by Nicolà ¡s de Ovando. San Sebastià ¡n de Uraba and the Darià ©n In 1508, Pizarro joined the Alonso de Hojeda expedition to the mainland. They fought the natives and created a settlement called San Sebastià ¡n de Urabà ¡. Beset by angry natives and low on supplies, Hojeda set out for Santo Domingo in early 1510 for reinforcements and supplies. When Hojeda did not return after 50 days, Pizarro set out with the surviving settlers to return to Santo Domingo. Along the way, they joined an expedition to settle the Darià ©n region: Pizarro served as second in command to Vasco Nuà ±ez de Balboa. First South American Expeditions In Panama, Pizarro established a partnership with fellow conquistador Diego de Almagro. News of Hernà ¡n Cortà ©s audacious (and lucrative) conquest of the Aztec Empire fueled the burning desire for gold among all of the Spanish in the New World, including Pizarro and Almagro. They made two expeditions from 1524 to 1526 along the western coast of South America: harsh conditions and native attacks drove them back both times. On the second trip, they visited the mainland and the Inca city of Tumbes, where they saw llamas and local chieftains with silver and gold. These men told of a great ruler in the mountains, and Pizarro became more convinced than ever that there was another rich Empire like the Aztecs to be looted. Third Expedition Pizarro personally went to Spain to make his case to the king that he should be allowed a third chance. King Charles, impressed with this eloquent veteran, agreed and awarded Pizarro the governorship of lands he acquired. Pizarro brought his four brothers back with him to Panama: Gonzalo, Hernando, Juan Pizarro, and Francisco Martà ­n de Alcà ¡ntara. In 1530, Pizarro and Almagro returned to the western shores of South America. On his third expedition, Pizarro had about 160 men and 37 horses. They landed on what is now the coast of Ecuador near Guayaquil. By 1532 they made it back to Tumbes: it was in ruins, having been destroyed in the Inca Civil War. The Inca Civil War While Pizarro was in Spain, Huayna Capac, Emperor of the Inca, had died, possibly of smallpox. Two of Huayna Capacs sons began fighting over the Empire: Huà ¡scar, the elder of the two, controlled the capital of Cuzco. Atahualpa, the younger brother, controlled the northern city of Quito, but more importantly had the support of three major Inca Generals: Quisquis, Rumià ±ahui, and Chalcuchima. A bloody civil war raged across the Empire as Huà ¡scar and Atahualpas supporters fought. Sometime in mid-1532, General Quisquis routed Huà ¡scars forces outside of Cuzco and took Huà ¡scar prisoner. The war was over, but the Inca Empire was in ruins just as a far greater threat approached: Pizarro and his soldiers. Capture of Atahualpa In November 1532, Pizarro and his men headed inland, where another extremely lucky break was awaiting them. The nearest Inca city of any size to the conquistadors was Cajamarca, and Emperor Atahualpa happened to be there. Atahualpa was savoring his victory over Huà ¡scar: his brother was being brought to Cajamarca in chains. The Spanish arrived in Cajamarca unopposed: Atahualpa did not consider them a threat. On November 16, 1532, Atahualpa agreed to meet with the Spanish. The Spanish treacherously attacked the Inca, capturing Atahualpa and murdering thousands of his soldiers and followers. Pizarro and Atahualpa soon made a deal: Atahualpa would go free if he could pay a ransom. The Inca selected a large hut in Cajamarca and offered to fill it half full with golden objects, and then fill the room twice with silver objects. The Spanish quickly agreed. Soon the treasures of the Inca Empire began flooding into Cajamarca. The people were restless, but none of Atahualpas generals dared attack the intruders. Hearing rumors that the Inca generals were planning an attack, the Spanish executed Atahualpa on July 26, 1533. After Atahualpa Pizarro appointed a puppet Inca, Tupac Huallpa, and marched on Cuzco, the heart of the Empire. They fought four battles along the way, defeating the native warriors every time. Cuzco itself did not put up a fight: Atahualpa had recently been an enemy, so many of the people there viewed the Spanish as liberators. Tupac Huallpa sickened and died: he was replaced by Manco Inca, a half-brother to Atahualpa and Huà ¡scar. The city of Quito was conquered by Pizarro agent Sebastià ¡n de Benalcà ¡zar in 1534 and, apart from isolated areas of resistance, Peru belonged to the Pizarro brothers. Pizarros partnership with Diego de Almagro had been strained for some time. When Pizarro had gone to Spain in 1528 to secure royal charters for their expedition, he had acquired for himself the governorship of all lands conquered and a royal title: Almagro only got a title and the governorship of the small town of Tumbez. Almagro was furious and nearly refused to participate in their third joint expedition: only the promise of the governorship of as-yet undiscovered lands made him come around. Almagro never quite shook the suspicion (probably correct) that the Pizarro brothers were trying to cheat him out of his fair share of the loot. In 1535, after the Inca Empire was conquered, the crown ruled that the northern half belonged to Pizarro and the southern half to Almagro: however, vague wording allowed both conquistadors to argue that the rich city of Cuzco belonged to them. Factions loyal to both men nearly came to blows: Pizarro and Almagro met and decided that Almagro would lead an expedition to the south (into present-day Chile). It was hoped that he would find great wealth there and drop his claim to Peru. Inca Revolts Between 1535 and 1537 the Pizarro brothers had their hands full. Manco Inca, the puppet ruler, escaped and went into open rebellion, raising a massive army and laying siege to Cuzco. Francisco Pizarro was in the newly founded city of Lima most of the time, trying to send reinforcements to his brothers and fellow conquistadors in Cuzco and organizing shipments of wealth to Spain (he was always conscientious about setting aside the royal fifth, a 20% tax collected by the crown on all treasure collected). In Lima, Pizarro had to fend off a ferocious attack led by Inca General Quizo Yupanqui in August of 1536. The First Almagrist Civil War Cuzco, under siege by Manco Inca in early 1537, was rescued by the return of Diego de Almagro from Peru with what was left of his expedition. He lifted the siege and drove off Manco, only to take the city for himself, capturing Gonzalo and Hernando Pizarro in the process. In Chile, the Almagro expedition had found only harsh conditions and ferocious natives: he had come back to claim his share of Peru. Almagro had the support of many Spaniards, primarily those who had come to Peru too late to share in the spoils: they hoped that if the Pizarros were overthrown that Almagro would reward them with lands and gold. Gonzalo Pizarro escaped, and Hernando was released by Almagro as part of the peace negotiations. With his brothers behind him, Francisco decided to do away with his old partner once and for all. He sent Hernando into the highlands with an army of conquistadors, and they met Almagro and his supporters on April 26, 1538, at the Battle of Salinas. Hernando was victorious, while Diego de Almagro was captured, tried, and executed on July 8, 1538. Almagros execution was shocking to the Spaniards in Peru, as he had been raised to nobleman status by the king some years before. Death For the next three years, Francisco mainly remained in Lima, administrating his empire. Although Diego de Almagro had been defeated, there was still much resentment among late-coming conquistadors against the Pizarro brothers and the original conquistadors, who had left slim pickings after the fall of the Inca Empire. These men rallied around Diego de Almagro the younger, son of Diego de Almagro and a woman from Panama. On June 26, 1541, supporters of the younger Diego de Almagro, led by Juan de Herrada, entered Francisco Pizarros home in Lima and assassinated him and his half-brother Francisco Martà ­n de Alcà ¡ntara. The old conquistador put up a good fight, taking down one of his attackers with him. With Pizarro dead, the Almagrists seized Lima and held it for almost a year before an alliance of Pizarrists (led by Gonzalo Pizarro) and royalists put it down. The Almagrists were defeated at the Battle of Chupas on September 16, 1542: Diego de Almagro the younger was captured and executed shortly after that. Legacy The cruelty and violence of the conquest of Peru is undeniable—it was essentially outright theft, mayhem, murder, and rape on a massive scale—but it is hard not to respect the sheer nerve of Francisco Pizarro. With only 160 men and a handful of horses, he brought down one of the largest civilizations in the world. His brazen capture of Atahualpa and decision to back the Cuzco faction in the simmering Inca civil war gave the Spaniards enough time to gain a foothold in Peru that they would never lose. By the time Manco Inca realized that the Spanish would not settle for anything less than the complete usurpation of his empire, it was too late. As far as the conquistadors go, Francisco Pizarro was not the worst of the lot (which isnt necessarily saying much). Other conquistadors, such as Pedro de Alvarado and his brother Gonzalo Pizarro, were much crueler in their dealings with the native population. Francisco could be cruel and violent, but in general, his acts of violence served some purpose, and he tended to think his actions through much more than others did. He realized that wantonly murdering the native population was not a sound plan in the long run, so he did not practice it. Francisco Pizarro married Inà ©s Huaylas Yupanqui, the daughter of the Inca emperor Huayna Capa, and she had two children: Francisca Pizarro Yupanqui (1534–1598) and Gonzalo Pizarro Yupanqui (1535–1546). Pizarro, like Hernà ¡n Cortà ©s in Mexico, is honored sort of halfheartedly in Peru. There is a statue of him in Lima and some streets and businesses are named after him, but most Peruvians are ambivalent about him at best. They all know who he was and what he did, but most present-day Peruvians do not find him much worthy of admiration. Sources Burkholder, Mark and Lyman L. Johnson. Colonial Latin America. Fourth Edition. New York: Oxford University Press, 2001.Hemming, John. The Conquest of the Inca. London: Pan Books, 2004 (original 1970).Herring, Hubert. A History of Latin America From the Beginnings to the Present. New York: Alfred A. Knopf, 1962Patterson, Thomas C. The Inca Empire: The Formation and Disintegration of a Pre-Capitalist State. New York: Berg Publishers, 1991.Varon Gabai, Rafael. Francisco Pizarro and His Brothers: The Illusion of Power in Sixteenth-Century Peru. trans. Flores Espinosa, Javier. Norman: University of Oklahoma Press, 1997.