Sunday, January 26, 2020

Effect of Contract Based Labourers on Indias Automobiles

Effect of Contract Based Labourers on Indias Automobiles Research Question: How are contract based labourers affecting the productivity of Indian automobile industry? Introduction Research Origin and Focus Area of Research The employment structure in the Indian scenario has been undergoing certain changes due to globalization. The firms in order to be competitive in a global market should have the flexibility relating to labour, capital and various bureaucratic procedures. Only then can it adapt itself to the rapidly changing environment and thereby stay ahead. Although, it has been said that the stringent labour laws not only put the domestic producers at a disadvantageous position but it is also one of the primary factor causing less inflow of foreign direct investment and eventually impact adversely on investment, output and employment. As a result, number of countries has amended their labour laws so as to make them more investment and employment friendly. This has thereby led to different non-permanent employment structures, such as casual labour, contract labour, subcontractors, consultants and others, among which contract labour is the most prominent kind in the Indian industrial sector and in this paper I primarily focus on the Indian automobile sector only at present. In this research, the point to be noted is the contractual employment which is in accordance to the Contract Labour Regulation and Abolition Act, 1970. According to the law, a contract labourer is defined as one who is hired in connection with the work of an establishment by a principal employer through a contractor. Although a contractor tries to produce the given results with the help of a contract labour for the organisation, a principal employer is the person responsible for the control of an establishment. Over the years the pace of contracting has increased dramatically both across borders as well as within. The research will be dealing with the effect of these outsourcing activities. According to the WTO-ILO report (2009), contracting has largely taken place in the emerging economies. Now what could be the consequences of contracting on the labour productivity of a particular firm within the country is what this research paper will be discussing about. Although a lot has been discussed about the rights in terms of wages and other emoluments for the contractual labour, not much has been said about the productivity of the contractual labour. Much has been said recently about the slowdown in the Indian automobile industry, in fact this sector of the Indian manufacturing industries has recorded its lowest point in terms of growth past year. In this research paper, I have taken up the issue of subcontracting of labourers as the one of the primary reason for this lag in productivity. The organised auto sector in India broadly consists of three tiers and the Original Equipment Manufacturers (OEMs) sit at the top of the chain. Most of these OEMs are members of the Society of Indian Automobile Manufacturers (SIAM), while most of the tier 1 auto component manufacturers are members of the Automobile Component Manufacturers’ Association (ACMA). Tier-2 and Tier-3 auto-component manufacturers are relatively smaller players. To assess the importance of the sub sectors in terms of generation of employment, it is essential to analyse the intensity of labour employment in these sectors. There is a concern in the industry that wages are growing for the permanent labours without proportionate increase in the productivity front. As a result, higher subcontracting takes place in order to curb wage costs both in the periphery as well as in the core sector. Contract labourers, paid comparatively much lower than the permanent employees and enjoying hardly any other benefits, make up 70-80% of the industry workforce, according to estimates by trade union leaders. The underlying tension between their aspirations and outdated labour laws cause dispute and de-incentivise work effort and lowering productivity. Literature Review In order to proceed with the analysis of subcontracting and productivity, there are literature which illustrate the importance of investment in RD. Romer (1990) has stated on the â€Å"endogenous technological change† and hence proved how RD plays an instrumental role in accelerating long run growth of a country. Thereafter, many works have been published citing the role of variable factors on RD and long term growth, which varies from economy to economy. Scholars like Goo (2011) mentioned the effects of transportation costs in RD technology sector on the endogenous growth. He showed that larger the transportation costs of RD technology, larger will be the price of RD technology and hence leading to slower economic growth. Lee (2005) empirically showed a direct and much stronger effect of information networks on international RD. Research in relation to this field by eminent economists has also discussed the strategically important interactions of firms and their implication of RD of firms and the performances. Grossman and Helpman (2002, 2003), Egger and Egger (2003), Shy and Stenbacka (2003) and Antras and Helpman (2004) established the positives of outsourcing over any other organizational structures, for example the vertical integration and foreign direct investment. If outsourcing and RD are complementary to each other, outsourcing leads to an increase in RD, which leads to a reduction of the negative impact of outsourcing on wages and employment in the outsourced countries. Based on a similar framework, Marjit and Mukherjee (2008) argued that outsourcing has a positive relationship with the RD investment and hence an increase in outsourcing causes an increase in the RD investment in small markets and highly competitive product market, whereas it decreases the RD investment in large markets Based on the efficiency wage models, which talk about the positive effect of higher wages (Shapiro and Stiglitz, 1984; Banerjee and Gupta, 1998), have shown a direct effect on labour productivity of higher wages, as result of greater incentive. Hence, a decline in wage mean declining productivity and the entrepreneurs might be reluctant to reduce the wage, even in the situations of unemployment. That is the key argument explaining unemployment and wage rigidity at the same time. Dibyendu Maiti and Sugata Marjit (2011) had focused on the subcontracting part of a typical firm to the informal sector for a developing economy. Although, these literature give us the basis of contractual labour hiring practices, but they do not mention much about the productivity perspective. Dibyendu Maiti and Sugata Marjit (2011) gave an overview of the productivity and subcontracting issue for a developing economy, this research study will only deal with the Indian automobile sector as its primary domain. Research Design and Methodology Starting with a simple framework of a firm, which has two alternatives to hire labourers, i.e. either using subcontracting way at a lower cost or it can go for permanent employment of labourers. The formal wage structure is determined exogenously at each level whereas the contractual labourers’ wages are determined endogenously by the market and using the bargaining power of the contractor. Also assuming, is the fact that contractual labour wage rate do not adjust rapidly in the short run. In case of a rise, in the wage rates of the permanent labourers the firm would go for contractual hiring, thereby increasing the demand for temporary labourers in turn leading to an increase in wages. In the short run time period, if the contractual wage rises, the firm would opt for the existing permanent labourers, which again leads to an increase in the demand for permanent labourers. With this relation between the wages of both the contractual and permanent labourers, we can establish th e fact that the contractual wage and permanent wage would be correlated. Although from a long run view, the contractual wage is adjusted by the market forces. The net effect of the above interactions between the contractual and permanent wage determines the level of wage and employment in a particular sector. In order to analyse the study, information from secondary sources of Indian database is collected. With these dataset, and to establish a significant relationship between the wages and productivity regression analysis has to be done. The study takes the annual emoluments for hired workers in Non-Directory Manufacturing Establishments (NDME) documented by National Sample Survey Organisation, Government of India and annual emoluments of the various factory workers documented by Annual Survey of Industries, Government of India, Society of Indian Automobile Manufacturers (SIAM) and Automobile Component Manufacturers’ Association (ACMA). Running pooled OLS regression with state and time as dummy variables and panel GLS regressions to estimate the relationship between contractual wage and formal productivity, and formal wage and formal productivity controlling other variables. With the results for the regression analysis it can be showed that the correlation between formal wage and formal productivity is not statistically significant, while for the formal productivity and informal wage it is highly significant and with the GLS panel regression, it can be proved that formal productivity is highly affected by informal wage. The formal or the permanent workers’ sector does not necessarily affect the contractual workers’ sector in the long term. If the permanent wage increases, the firm will transfer its production activities from its in house permanent sector to external contractual sector which leads to two effects on the contractual wage rate. Firstly, a substitution effect would raise the demand for contract labours. The discharged labours from the formal sector due to shortage of production would also supply more labour. Therefore, the net effect remains ambiguous. If the contract labour sector have a net positive demand for labours, it would increase the employment and it would raise the informal wage when the economy is at its full employment level. Again, if net demand is negative, it might also reduce the contractual wage. This situation alters the efficiency gain of permanent labours and also brings down the condition for the contract sector. Thus a developing economy or an economy with a higher number of poor populations will have less productive permanent sector. This indicates that when a society has a greater number of poor informal workers, those who are fortunate enough to land up with relatively high-wage jobs may not be as productive as they would be in a society where access to the low wage informal segment restricted.

Saturday, January 18, 2020

Philippines And United States Essay

1. How did the Philippines become a major headache for America? Filipinos erupted into an open insurrection in 1899 under Emilio Aguinaldo. The war/ conflict was sordid and prolonged. Instead of quietly assimilating, they objected. 2. Why did the United States hold on to the Philippines? Millions of American dollars were invested in improving the nation’s infrastructure and education. Moreover the 2 nations had established important economic ties including trades in sugar. 3. Why did Hay propose the Open Door Policy? What was it? He proposed it because Chinese markets were being monopolized by Europeans. Hays open door policy suggested that in their leaseholds and spheres of influence they would respect certain Chinese rights and the ideal of fair competition. 4. How did the US get â€Å"entangled† in China? American public was alarmed by European encroachments into Chinese markets and demanded that Washington should do something. Chinese did not like being used as â₠¬Å"doormats† by the Europeans and revolted. America joined in on a multinational rescue force to quell the rebellion. 5. Why was Roosevelt â€Å"kicked upstairs?† he was elected governor of New York but the local political bosses found him too headstrong and difficult to manage. 6. What were the major issues of the election of 1896? Why did McKinley win? The paramount issue as republican overseas imperialism. Along with republican fostered trusts. 7. What were Roosevelt’s general ideas on foreign and domestic policy? Domestic: mostly consisted of his ideas of the Square Deal on supporting middle class and Progressive ideas, regulating Business Monopolies, and enforcing the Anti-Trust act and hopes of protecting the common people. Also towards farmers, consumers, workers, and business owners have equal treatment and opportunity to succeed. Foreign: consisted mostly of the pressing need for the canal across Central America. Roosevelt also expanded the Monroe Doctrine in order to make new agreements with European Nations. Roosevelt’s Corollary to the Monroe Doctrine stated that if America and its protectorates receive problems and complications with other Nations, then America can handle its own issues and will not need the aid from foreign Countries. 8. Why did many Americans push for a canal in Central America? During the Spanish American war, battleship Oregon had to sail all the way across the southern tip of south America to reach the Cuban coasts. Building the canal would fortify Americas naval mobility. 9. What was the Clayton-Bulwer Treaty? What was the Hay-Pauncefote Treaty? Signed with Britain in 1850, The US could not secure exclusive control over such a route as the Panama Canal. In 1901 with the second treaty, US could build canal and fortify it too. 10. How did the US intervene in Panama to get access to the canal route? US naval forces did not let Columbian troops cross isthmus to quell the uprising. 11. What was the Hay-Banau-Varilla Treaty? Sold canal strip of ten miles for forty million. 12. How did the Panama Canal episode change US relations with Latin America? Made them bad. Fear spread and US became a bully. LOL 13. What was the Roosevelt Corollary to the Monroe Doctrine? What was its impact? Justified US intervention in Latin American Countries. A policy of preventive intervention, it kept out European nations by allowing US forces to take over custom houses and pay off debts. Latin Americans viewed the US with disapproval as we interfered in the DR and Cuba. 14. Why was TR involved in the dispute between Japan and Russia? What was the result of his intervention? Established him as a global statesmen. Japan got no indemnity and only the southern half of Sakhalin. Japanese and American and Russian and American unfriendly relations grew. 15. What was the Gentlemen’s Agreement? Japanese flow of laborers to America by withholding passport happened and Californians were forced to repeal offensive school order. 16. What was the Root-Takahira Treaty? Japan and US will respect territorial possessions and uphold Open Door in China.

Friday, January 10, 2020

Smaller Public Companies and Sox

Should Smaller Public Companies be Exempted from Complying with SOX Section 404(b)? ABSTACT On July 21, 2010 the Dodd-Frank Wall Street Reform and Consumer Protection Act provided the non-accelerated public companies (those with a market capital below $75 million) a permanent exemption from complying with the Sarbanes-Oxley (SOX) Section 404(b). The Section 404(b) would have required these smaller companies to do what larger companies over the $75 million market cap are currently doing; requiring an external auditor to audit their internal controls over financial reporting.However, what may seem like a huge win for the smaller companies who long have complained about the cost out weighing the benefits of complying with the standard, does not appear that way to everyone. INTRODUCTION Sarbanes-Oxley (SOX) Act Section’s 404 (a) and (b) were created to help restore the public’s trust in what public companies are reporting in their financial statements, as well as the opinio ns on the reports that the auditors are providing on the financial statements.SOX 404(a) implies that managements of public companies assess and report on whether their internal controls over financial reporting (ICFR) are effective (United States Securities and Exchange Commission [SEC], 2009); in order to ensure that those requirements in Section 404(a) are being met, public companies are required to have an external auditor attest to management’s assessment over the ICFR (SEC, 2009). While SOX 404(a) is required by all public companies, Section 404(b) was required only by large companies (those with a market cap greater that $75 million).As for the smaller public companies (those $75 million and under), they were granted numerous extensions and were eventually permanently exempted. The main purpose of SOX 404 was to alleviate the growing tension between investors, government agencies, and public companies. While the public trust is continuing to be restored, according to r esearch and studies; unintended circumstances of the SOX 404 implementation caused massive financial burdens for smaller public companies (Garrett, 2009).The outcries from the small public companies were answered by numerous extensions on the compliance of SOX 404(b). This was in order to give these companies more time to get their internal controls in place for external auditors to attest to them. Finally, on July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) was passed. The Dodd-Frank Act provided permanent exemption from complying with the SOX 404(b) for non- accelerated public companies (those with a market capital below $75 million) (Dodd-Frank Wall Street Reform, 2010, pg. 83). As a result of this Act, another issue surfaced as to why permanently exempt the smaller companies from SOX 404(b). All public companies, to include smaller public companies, should be held to the same standards and be subject to the rules under SOX 404(b). Ins tead of permanently exempted them, the SEC should have came up with a way to make it more cost effective to comply. This paper will address arguments from both sides of the Dodd-Frank Act, and why smaller firms should be required to comply with SOX 404(b).ANALYSIS The permanent exemption comes as a relief for the small public companies as complying with SOX 404(a) has been very expensive and time consuming. By adding to the cost associated with complying with SOX 404(b), it would be more than they would be able to handle. A study conducted by Financial Executives International, showed that the cost of complying with SOX for those public companies whose market cap was under $100 million was approximately $824,000 compared to $1. million for those who market cap is between $100 million to $500 million, at the time the article was written (Wolkoff, 2005). Furthermore, Wolkoff (2005) goes on to say that at the AMEX median, the median revenue for its companies are $57 million, which mean s that for these companies to comply with SOX 404(b) it would cost close to 1. 5% of its median revenue(Wolkoff, 2005). Specifically, Wolkoff states that this could â€Å"severely† have a negative impact on these companies operating margins and â€Å"in many cases to near zero — and depleting funds available for a reinvestment† (Wolkoff, 2005, pg. ). In addition, resources that could be used for other more important business needs would be diverted to costly â€Å"tedious documentation requirements†, and would not be worth the benefits derived (Garrett 2009, pg. 1). Even after the creation of Auditing Standard No. 5 (AS5), a study done by George Washington University, found that the decrease that larger public companies found with the relief provided from AS5 was not the case for smaller public companies (Garrett, 2009).Furthermore, NASDAQ research showed that based on revenue percentage it would cost 11 times more for smaller companies than larger compan ies to comply with SOX 404 (b), which creates an â€Å"unfair competitive advantage for larger companies† (Garrett, 2009 pg. 1-2). Not to mention that these smaller companies believe that the cost associated with SOX 404(b) far outweighs the benefits of compliance (Wolkoff, 2005).On the other hand, opponent’s of the Dobb-Frank Act believes that despite the George Washington University and NASDAQ studies, SOX 404 costs are still expected to go down and that the reduction is not only due to the implementation of AS5, but because of other factors. For instance, the cost of complying with SOX 404 is expected to continue to go down as companies continue to implement and document effective controls and move into the â€Å"maintenance phase of monitoring and reporting† (How Potential Changes in Small-Company, 2006, pg. 7).As this relates to SOX 404(b), this could also mean that once the external auditors have completed their first audit of the company’s internal controls and improvements are made based on the outcome of the audit, audit fees should go down because the audits will become easier since any ineffective internal controls should have been or is being addressed. Another SOX 404(b) obstacle that proponents of the Dobb-Frank Act believed threatened the small companies was that the Securities Exchange Commission (SEC) was trying to take a â€Å"one size fits all† approach.Meaning, the SEC was trying to use the same standards for both large and small companies when regulating corporate governance. Proponents felt that this was unfeasible because larger companies were in a better financial position to handle the expense for consultant and external audit fees that came with the SOX 404 regulations. For example, an increased auditing bill to $500 thousand for a company who has a $10 billion market cap would not have the same effect on a company with a market cap of $100 million (Wolkoff, 2005).Conversely, an analysis done by CRA International for the Big Four, reported that audit fees did not make up the majority of the cost associated with SOX 404. Specifically, the smaller of the larger companies that had to comply with all sections of SOX 404 (i. e. , those with market caps between $75 and $700 million); 35% of those costs were related to audit cost (How Potential Changes in Small-Company, 2006) as it relates to SOX 404(b). Additionally, those companies with a market cap over $700 million, only 26% were related to audit cost (How Potential Changes in Small-Company, 2006).Although the compliance with SOX 404(b) was implemented to restore investor’s confidence, Wolkoff (2005) states that in doing so caused a deterrent in the number of small firms that would go public both domestically and overseas. The Amex has seen the impact as the number of small companies that have delisted from the Exchange has increased (Wolkoff, 2005), and those that would have joined decided not to, which reduces the number of initial public offerings in the United States.The SOX Act, specifically, Sections 404(a) and (b), didn’t take into account that large companies have a more complex business structure, which makes for more complex accounting practices (Wolkoff, 2005). For example, the segregation of duties obstacles that many smaller companies are faced with and do not have the resources to fix this control problem. According to Wolkoff (2005), the SEC should have taken that into consideration the â€Å"market cap† or â€Å"minimal revenue† that a company generates and apply different standards accordingly (pg. 1).Another point that proponents of the Dobb-Frank Act made was that scandals like Enron are least likely to happen in smaller public companies. The reasoning behind this is that smaller companies are not normally out to cheat themselves. This is because these smaller companies are usually run by the people that founded the companies or closely related (Wolkoff, 2005). However, by requiring smaller public companies to comply with SOX 404(b), will not only ensure that they are in compliance with SOX 404(a), but it will also help these companies by uncovering inefficiencies in some processes.This in turn will help the companies because it will â€Å"†¦makes fraud harder to commit and easier to detect† (Aguilar, 2010, pg. 33). Especially since smaller companies are in a better position and at greater risk for committing fraud and accounting manipulations (Aguilar, 2010). Furthermore, who is to say those smaller companies’ investors do not deserve the same level of confidence and â€Å"financial reporting safeguards† that larger public companies’ investors are receiving (Solnik, 2010).In addition, studies have shown a correlation between â€Å"weak internal controls and poorer earnings relative to effective internal controls† (Hamilton, J. , 2009). In time of a declining economy, the temptations for fraudulent r eporting is increased and by having smaller companies comply with SOX 404(b) serves as a deterrent for those temptations (Hamilton, J. , 2009). Lastly, smaller public companies feel that they have already spent a lot of money just to be in compliance with SOX 404(a), and do not feel the need to be monitored by external auditors.This is because they feel that are capable of monitoring, finding, and remediating deficiencies through internal audits (Solnik, 2010). However, as previously mentioned, SOX 404(b) was not only put in place to ensure that public companies were in compliance with SOX 404(a), but to also have it attested by an independent auditor. This not only helps restore investor’s confidence, but also provides the public companies beneficial information as to whether or not they have proper controls in place and/or additional controls are needed.Moreover, small companies may be putting themselves at risk especially, if the investors penalized them for not meeting th e â€Å"transparency norms† that is projected by external auditors (Silverstein, 2008 pg. 26). Especially since there are approximately 7,300 smaller public companies, which accounts for 65% of the overall public companies (Hamilton, J. 2009). CONCLUSION While there are good cases made from both sides of the Dobb-Frank Act, permanently exempted smaller companies doesn’t solve the issue of ensuring compliance with SOX 404(a) is being followed.More importantly, it doesn’t provide the smaller public investors with the same confidences as large public investors as to whether or not the proper controls are in place, and/or whether the controls are effective. By having external auditors attest to ICFR it will provide the smaller companies’ investors the same boost of confidences as its larger counterparts. Instead of permanent exemption, other means should be looked at in order to make it to where it is cost effective to comply with SOX 404(b).Also, as recommen ded by the Key Advisory Committee, â€Å"[e]xempt some smaller public companies entirely from SOX 404 reporting requirements, but add stricter corporate governance requirements for those companies† (How Potential Changes in Small-Company, 2006, pg. 6). That way we will not have to wait until another scandal is made public to scramble and make these changes; as the old saying goes, â€Å"It’s not if, but when†. REFERENCES Aguilar,  M. (2010,  May). Small filers struggle with internal controls over fraud. Compliance Week,  7(76),  33,74.Retrieved from ABI/INFORM Trade & Industry. Dodd-Frank Wall Street Reform and Consumer Protection Act. Conference Report to Accompany H. R. 4173. House of Representative , 111th Cong. 583 (2010). Garrett, S. 2009. Garrett introduces SOX exemption for small businesses, Press release, Oct. 8,2009. Hamilton,  J. (2009, June). Section 404 works and is important for small companies, Aguilar feels. SEC Filings Insight,1,4. Retr ieved from ABI/INFORM Global. How potential changes in small-company SOX regulations could affect your firm. (2006,  February).Accounting Office Management & Administration Report,  06(2),  1,6+. Retrieved from ABI/INFORM Trade & Industry Silverstein, M. (2008,  December). (Sarbanes-Oxley Revisited:) The Good, the Bad, the Lessons. New Jersey Business,  54(12),  26. Retrieved from ABI/INFORM Dateline Solnik, C. (2010,  July). Small companies push to gain permanent exemption from Sarbanes-Oxley requirement Silverstein nts. Long Island Business News. Retrieved from ABI/INFORM Dateline. United States Securities and Exchange Commission, Office of Economic Analysis. 2009). Study of the Sarbanes-Oxley Act of 2002 Section 404 Internal Control over Financial Reporting Requirements. Retrieved from http://www. sec. gov/news/studies/2009/sox-404_study. pdf Whitehouse,  T. (2009,  April). SOX 404 Compliance Improves for All but the Small. Compliance Week,  6(63),  42-43. R etrieved from ABI/INFORM Trade & Industry. Wolkoff, N. L   (2005,  August). Sarbanes-Oxley Is a Curse for Small-Cap Companies. Wall Street Journal (Eastern Edition),  p. A. 13. Retrieved from ABI/INFORM Global.

Thursday, January 2, 2020

Using the Spanish Verb Hacer

Hacer is one of the most versatile verbs in the Spanish language, and it is used in a wide range of expressions that youll use daily. Although it is often said to mean to make or to do, in context it can refer to almost any activity as well as the act of becoming. Except as a simple question ( ¿hace? can mean something like will that do? and  ¿quà © haces? means what are you doing? or what are you making?), hacer very seldom stands alone. It is almost always followed by a noun. Key Takeaways Although  hacer  often is translated as to make or to do, it can be used in many other ways, including time and weather expressions.The reflexive form  hacerse  can also mean to become or to turn into.Hacer  is irregular in nearly all its forms. Uses for Hacer Here are some of the most common uses of hacer: To indicate the making or creation of something: A number of translations of the verb can be used in English depending on what is being made. Vamos a hacer una pà ¡gina web. (Were going to design a web page.)Hizo una casa grande en Chicago. (He built a large house in Chicago.)Hice un libro sobre mi tà ­a. (I wrote a book about my aunt.)El à ¡rbol hace sombra. (The tree provides shade.) As a general verb meaning to do: Hacer can refer to an activity in general, or it can replace a verb used earlier. No hizo nada. (She didnt do anything.)Yo comà ­a mucho y à ©l hacà ­a el mismo. (I ate a lot and he did the same.)Haz lo que digo, no lo que hago. (Do what I say, not what I do.)Hice mal en no estudiar. (I did wrong not to study.) As part of an expression or idiom indicating an act of some kind:  ¿Quieres hacer una pregunta? (Do you want to ask a question?)El acto terrorista le hizo daà ±o a mucha gente. (The terrorist act hurt a lot of people.)Hizo pedazos el comprobante. (He tore the receipt into pieces.) In weather terms: Typically, weather terms use a third-person singular form of hacer followed by a noun. Hace frà ­o. (Its cold.)Hacà ­a viento por todas partes. (It was windy everywhere.) In time expressions: Typically, hace is followed by a period of time to indicate how long ago something happened or started. El dà ³lar cae a niveles de hace dos aà ±os. (The dollar is falling to levels of two years ago.)Este virus se descubrià ³ hace poco tiempo. (This virus was discovered a short time ago.)La tengo desde hace tres dà ­as y estoy muy contento con ella. (I have had it since three days ago and am very happy with it.) To show causation: In some cases, hacer is used similarly to the English make to indicate why sometime happened. Ella me hace feliz. (She makes me happy.)Eso me hizo sentir mal. (That made me feel bad.) To indicate the act of becoming: The reflexive form hacerse is often used to indicate change. Se hace mà ¡s feliz. (Hes becoming happier.)Me hice hindà º. (I became a Hindu.)Se hicieron amigos. (They became friends.) In various impersonal expressions: In some cases, hacer can become the equivalent of to be. Hace un dà ­a esplà ©ndido. (Its a terrific day.)Voy si hace falta. (Im going if its necessary.)Hay gente que hace carrera sin talento. (There are people who are successful without talent.) To indicate the taking of a role: The role can be deliberate or not. Hizo el papel estelar en El Barbero de Sevilla. (He had the starring role in The Barber of Seville.)Hacà ­a el tonto con perfeccià ³n. (He played the perfect fool.)Hizo como que no entendà ­a nada. (She acted as if she understood nothing.) To indicate how something seems: The reflexive form is sometimes used in this way. Piorno se hace simpà ¡tico por su acento caribeà ±o. (Piorno seems friendly because of his Caribbean accent.)Las horas se hacà ­an muy largas. (The hours seemed very long.) Conjugation of Hacer Like most much-used verbs, hacers conjugation is highly irregular. Here are the conjugations of the irregular indicative forms, with irregular conjugations in boldface: Present: yo hago, tà º haces, à ©l/ella/usted hace, hay (impersonal), nosotros/nosotras hacemos, vosotros/vosotras hacà ©is, ellos/ellas/ustedes hacen.Preterite: yo hice, tà º hiciste, à ©l/ella/usted hizo, hay nosotros/nosotras hicimos, vosotros/vosotras hicisteis, ellos/ellas/ustedes hicieron.Future: yo harà ©, tà º harà ©s, à ©l/ella/usted harà ¡, nosotros/nosotras haremos, vosotros/vosotras harà ©is, ellos/ellas/ustedes harà ¡n.Conditional: yo harà ­a, tà º harà ­as, à ©l/ella/usted harà ­a, nosotros/nosotras harà ­amos, vosotros/vosotras harà ­ais, ellos/ellas/ustedes harà ­an.