The Importance of Investing in Stocks: How to Get the Maximum Funds Possible

The Importance Of Investing In Stocks
Investing in Stocks
When you are younger saving for something in the future such as retirement may be one of your
lowest priorities. Although it is such a low priority it should not be. When you are young is the exact
time you should start saving in order to get the maximum funds possible. One of the best ways to
help money grow over a long period of time is investing in some sort of the stock market; mutual
funds, exchange–traded funds, or a well–diversified mix of individual stocks. There are many
different ways to spread your money out in the stock market. Spreading the money out in the stock
market helps because if one portion is performing poorly then not all of the money is being lost and
other parts may be doing well. Although the ... Show more content on Helpwriting.net ...
The only time to actually buy stocks or shares is when the market is open. It is possible to place
orders that will be executed once the market is open but it is not possible to buy any stocks or shares
after hours. It is also important to know what a stock or share means. Essentially a stock is just a
share in a company. A stock or share represents a claim on the company's assets and earnings. This
means the better a company does then it is likely the price of a share or stock in that company is
going to rise. This is due to the fact that the company is now worth more so in correlation so are the
stocks or shares in said company. Another term that might be heard is equity. This is basically a
synonym to the word share in this instance. It just represents a percentage or an amount of the
company that a shareholder owns. A shareholder is someone who holds stock in a company.
Not every company offers stocks or shares however. Some companies are considered "private"
companies. This means that 100% of the company is owned by the company itself. Whereas public
companies offer stocks and shares which basically means that the public owns a certain percentage
of the company. For example Apple only owns about 43% of their own company. That means that
the public essentially owns about 57% of Apple! It is crazy to think that the public can own such a
big portion of such a large influential company like Apple. Public companies are the
... Get more on HelpWriting.net ...

Paper
Strategic investment: own more than an passive amount, not enough to control, has power to
participate in financial and operational decision of investee IAS28. Classification require
professional judgement. * Presentation of board of directors * Interco transaction and relationship *
Who own the other shares * Any debt financing intermingled * Sharing technology and patent *
Participation in policy making process
Investor need to disclose share of investment income, * Also disc, opns * Error correction * Acct
policy changes, * Capital transaction included amount in OCI
Have influence or not : 20%
Users and objectives 1. Public shareholder: a. investors are interested in ... Show more content on
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Own 20% of the sahres which is on the border line of definition of 'influence' * Joint marketing
partner would like to gather more information to see the scope of business how much it is related. *
Since leopold klaviers is a subsidiary under Mozart, does Salieri has impact on Klaviers? * Due to
clavier sell its products all over the world, which accounting policy/method it is using? * With the
information so far, * Frix Flute * No influence due to the share is less than 20% * Beginning
intention for the investment was to provide * Need to gather more information about control due to
the interco transaction and relationship, the key factor need to consider here is that Salieri provide
patent right to Frix Flute so maybe need to disclose this information in the note. * Look at the past
relationship bw the companies due to the potential Salieri has the ability to withdawl the patent right
with 6 months notice. * SAC: should be considered as strategic investment and SAC is a subisidary
under Salieri. Due to IFRS, the consolidate financial statement is required. * Complete control and
accounting method under IFRS is consolidation. * 6 out 9 board

Company Law
(a) The legal issue is can Delusions of Grandeur Ltd increases the dividend rate for preference
shareholders from 7 per cent to 10 per cent immediately?
The argument would centre on interpretation of s246B (2) of the Corporation Act 2001.
Section 246B (2) applies if a company's constitution does not include a procedure for varying share
rights (Tony & Christopher 2009). The relevant assumption in this problem is s246B (2) (d):
"those rights may be varied or cancelled only by special resolution of the company and: (c) by
special resolution passed at a meeting: (i) for a company with a share capital of the class of members
holding shares in the class... (d) with the written consent of members with at least 75% of the votes
in the ... Show more content on Helpwriting.net ...
Section 246C (1) states that the division of one class of shares into two or more classes of shares,
where different rights attach to each class of shares after the division is taken to be variations of
class rights (Tony & Christopher 2009). Part of the Corporation Act 2001 (ss246B–246G) permits
companies to vary or cancel the rights attaching to a particular class of shares or members under
regulated conditions (Tony & Christopher 2009). Section 250E (1) provides that each shareholder,
whether preference or ordinary has equal voting rights (one vote per share on a poll) (Tony &
Christopher 2009). It would seem that two votes per share in Group A is not comply with s250E (1).
Apply to s246C (1), the Company varies the rights of a particular class of ordinary shares directly
which is cancellation or variation of voting rights attaching to a share. By reliance on the
assumption on the part of the Corporation Act 2001, the Company cannot divide the ordinary shares
into two groups then give two votes each share in Group A without the regulated conditions. In
conclusion, according to s246C (1) and s250E (1), it would seem most likely that the Company will
not be able to divide the ordinary shares into Group A which each share has two votes and Group B
that one vote per share immediately.
(d) The issue is can Delusions of Grandeur Ltd issues 25,000 new shares in Group B to new
investors at $5 per share

Share
Value of Equity and Per Share Value when there are options and warrants outstanding
Aswath Damodaran
1
Equity Value and Per Share Value: A Test l Assume that you have done an equity valuation of
Microsoft. The total value for equity is estimated to be $ 170 billion and there are 1204 million
shares outstanding. What is the value per share?
2
An added fact l On September 30, 1997, Microsoft had 258 million options outstanding, granted
to employees over time. These options had an average exercise price of $ 42 (the current stock price
i $ 140). Estimate the value per share.
3
Equity Value and Per Share Value l l
The conventional way of getting from equity value to per share value is to divide the equity ... Show
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8
The Conversion Option l l
In a typical convertible bond, the bondholder is given the option to convert the bond into a specified
number of shares of stock. The conversion ratio measures the number of shares of stock for which
each bond may be exchanged. Stated differently, the market conversion value is the current value of
the shares for which the bonds can be exchanged. The conversion premium is the excess of the bond
value over the conversion value of the bond. The conversion option in a convertible bond is equity.
9
Convertible Bond Value and the Conversion Option

10
Determinants of Value of Conversion Option l The conversion option is a call option on the
underlying stock, and its value is therefore determined by the variables that affect call option values
–
– the underlying stock price, – the conversion ratio (which determines the strike price), – the life of
the convertible bond, – the variance in the stock price and – the level of interest rates.
11
Factors in Using Option Pricing Models to Value Convertibles and Warrants l Option pricing
models can be used to value the conversion option with three caveats –
– conversion options are long term, making the assumptions about constant variance and constant
dividend yields much shakier, – conversion options result in stock dilution, and – conversion options
are often exercised before expiration, making it dangerous to use European option pricing

High Liner Foods Share Price History For The Past Five Years
3. Market (Stock) Analysis
High Liner Foods Share price history for the past five years
Figure 21. High Liner Foods inc. Price History Source: Yahoo Finance Canada,
https://ca.finance.yahoo.com/echarts?s=HLF.TO#symbol=HLF.TO;range=
High Liner Foods is the Market leader of the value–added seafood, and we can see that strong
position with the analysis of the share market price during the last five years.
The Company share price in the year of 2011 stood almost the same, from $ 8,27/share in January
1st to $ 8,17 in December 31st . This was a reflex of a period of great economic uncertainty, when
unemployment was very high making consumers to be more careful and save money. We had also
an American credit rating downgrade and the European debit crisis.
But the company results were very good with sales and earnings with a strong increase. Sales
increased for the third consecutive year, from 177 million pounds in 2010 to more than 200 million.
Revenue was up 14,3% to $ 668,6 million, with a contribution of the Viking Seafoods Inc, that was
integrated in April, of $ 37,5 million.
In 2012 the share price had a significant increase of 96,94%, beginning the year with the value of
$8,00 and closing de period with $ 15,77. The main reason was the inclusion of High liner Foods
Incorporated in the S&P/TSX SmallCap Index. in September 21st . According to the president and
CEO of the company it was an important milestone in their history, providing liquidity to the stocks.
The sales

Board of Directors
THE CORPORATION CODE OF THE PHILIPPINES
[Batas Pambansa Blg. 68]
TITLE III
BOARD OF DIRECTORS/TRUSTEES/OFFICERS
Sec. 23. The board of directors or trustees.
Sec. 24. Election of directors or trustees. – At all elections of directors or trustees, there must be
present, either in person or by representative authorized to act by written proxy, the owners of a
majority of the outstanding capital stock, or if there be no capital stock, a majority of the members
entitled to vote. The election must be by ballot if requested by any voting stockholder or member. In
stock corporations, every stockholder entitled to vote shall have the right to vote in person or by
proxy the number of shares of stock standing, at the time fixed in the ... Show more content on
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Notice of the time and place of such meeting, as well as of the intention to propose such removal,
must be given by publication or by written notice prescribed in this Code. Removal may be with or
without cause: Provided, that removal without cause may not be used to deprive minority
stockholders or members of the right of representation to which they may be entitled under Section
24 of this Code.
Sec. 29. Vacancies in the office of director or trustee. – Any vacancy occurring in the board of
directors or trustees other than by removal by the stockholders or members or by expiration of term,
may be filled by the vote of at least a majority of the remaining directors or trustees, if still
constituting a quorum; otherwise, said vacancies must be filled by the stockholders in a regular or
special meeting called for that purpose. A director or trustee so elected to fill a vacancy shall be
elected only or the unexpired term of his predecessor in office.
A directorship or trusteeship to be filled by reason of an increase in the number of directors or
trustees shall be filled only by an election at a regular or at a special meeting of stockholders or
members duly called for the purpose, or in the same meeting authorizing the increase of directors or
trustees if so stated in the notice of the meeting.
Sec. 30. Compensation of directors. – In

The Payment Of Dividends And The Issue Of Shares
The payment of dividends and the issue of shares in return for capital investment are important
aspects of company law. As such, there are certain requirements that must be met in order for both
shares and dividends to be lawfully issued. These requirements are located within the company's
articles and statute. The Company's articles "operate as contract between the company and its
members" and outline the requirements that the directors must follow in order for a transaction to be
lawful.
ABC wish to issue new shares and a pay a dividend using the newly appointed share capital. There
is no detail in relation to when ABC were incorporated other than that it was under the Companies
Act 2006 ("CA"). There are many versions of the standard ... Show more content on Helpwriting.net
...
This is supported by statute which allows directors to issue share capital provided this is sanctioned
by the articles. It is possible for the articles of the company to permit different classes of share to be
offered and thus enable preferential shares to be offered to Mrs Donald and the Model Articles
clearly does this within article 22. There are however, certain caveats in respect of the rights of the
existing members which can restrict this provision. The CA gives existing shareholders a right of
pre–emption as a means of preventing their voting power from being diluted by the allotment of new
shares if the issue is of ordinary shares.
Section 561 determines that existing members must be offered "on the same or more favourable
terms a proportion" of the proposed issue equal to the proportion of shares held by the member. The
offer must be made to the existing member in writing and must allow at least 14 days for the offer to
be accepted or declined. Contravention of this requirement could render the officer(s) involved and
the company jointly and severally liable to the member for any loss suffered or expense incurred by
their failure to meet this requirement. However section 563 CA does not result in an invalidation of
the allotment in the event that it was done infringing section 561 or 662 CA.
Whilst it is possible

Market Share On Tech 3 And Tech 4 Products
Market share on Tech 3 and Tech 4 products
Firstly, the company accounted for 18.12% of global market share by the end of all rounds. Thus,
having made the company became number one in global hand phone sets selling enterprise.
Furthermore, our company had dedicated to promoting Tech 3 and Tech 4 products to Asia and
Europe since Round 3 and Round 4 respectively, in addition, our components had also focused on
those two types of products since the middle of all eight rounds, which collectively made those
products becoming the mainstream product in global market, which Tech 3 product constituted
41.38% and Tech 4 accounted for 26.89% separately. The reason of analyzing sales performance of
Tech 3 and Tech 4 products is those two ... Show more content on Helpwriting.net ...
But the sales performance of Tech 4 products in Europe was promising. And the sales performance
will be explained under the following part.
2. Competitive environment of company
Major competitors and their products constitution
The major competitive factor of this universe was price war, combining the data from each round,
which each company's strategy was to sell their products at a considerable low price, furthermore,
according to the share price Blue had the highest market value, and Pink was the second highest,
which followed by Fly to Sky. Those Top Three companies took up 44% of market share
collectively. Consequently, those three companies would possibly become the vital competitors in a
long–term strategy making.
Blue company: the biggest rival in market share of Tech 3
As it mentioned above, Blue had the cheapest manufacturing cost on Tech 3 products, which
guaranteed them that they could sell their products at a relatively low price in any market, in
addition, our company's strategy was promoting Tech 3 products into Asia, which this could emerge
the direct competitive with them, especially in Asia, which our sales volume was slightly behind
them, 6518K to 6543K.
Pink: maintaining Tech 2 products sales volume in Asia, USA, Europe
Although Tech 3 and Tech 4 products had been dominating the market share since the middle of
eight

The Plan For Collaboration Airlines
Management is to projection, to plan, to coordinate, to arrange, and control the activity of others to
achieve the desired goal of an organisation. In that manager have to perform some activities as they
effectively and efficiently organize work with others. For instance, the top manager of United
airlines and continental airlines had made a slogan lets fly together, this made them worlds largest
airline. The CEO of both companies used merger strategy to achieve goals of making them merge
airline which is more efficient and better place in global challenging. The plans for collaboration
airlines include the name under United airline and logo and colors under continental airline. Both
companies have invested in improvement product and service, so they can achieve and sustain
profitability.
In 1911, the Frederick Winslow Taylor 's theory of scientific management describes the one best
way to done a job. Taylor was working in the steel industry as a mechanical engineer in
Pennsylvania. He was regularly amazed by workers inefficiencies, were they uses enormously
dissimilar technique to do same work. Workers frequently taking jobs easily and Taylor believes
worker taking more time as it can be done in less time. That time almost there was no standards and
workers get placed even they don't have the ability to do that task. Taylor set quick fix by applying a
scientific method to shop floor job. In that Taylor spent more than twenty years for following the
one best way.
Rakon

Role Of Stakeholders In Tesco
Stakeholders are the people who matter to a system. Stakeholder power analysis is a tool which
helps understanding of how people affect policies and institutions, and how policies and institutions
affect people. It is particularly useful in identifying the winners and losers and in highlighting the
challenges that need to be faced to change behaviour, develop capabilities and tackle inequalities.
Tesco are committed to having a constructive dialogue with stakeholders to ensure that they
understand what is important to stake holder and allow their selves the opportunity to present their
position. Engagement helps them to identify new risks and opportunities to ensure that their long–
term strategy is sustainable. In some instances, they find that working with stakeholders in
partnership can help deliver shared goals. They might not be able to satisfy all stakeholder concerns
all the time but through engagement they can do their best to balance competing demands. Tesco
knows that customers need to be able to trust their business and stakeholder will only trust them if
they believe that they are engaging on an appropriate basis with their stakeholders. Tesco
programmed of engaging with stakeholders including customers, staff, suppliers, investors,
government, regulators, non–governmental organizations and others, there 472,000 employees serve
millions of customers around the world. Tesco look after and develop them so they can look after
their customers. No one tries harder for

Protecting interest of the minority Shareholders
Protecting interest of the minority Shareholders
M S Siddiqui
Legal Economist and pursuing PhD in Open University, Malaysia e–mail:
shah@banglachemical.com
The over–investment by directors is not good for the stock market and it should be addressed
properly to find a way out and safeguard interest of minority shareholders from the experience of
other markets, writes M S Siddiqui................... http://www.thefinancialexpress–
bd.com/2013/11/25/5614 In Asian countries including Bangladesh, the controlling ownership of
public listed companies are dominated by some families. The problem of minority exploitation may
arise when the ownership is highly concentrated in any specific group, especially family ownership.
One of the consequences ... Show more content on Helpwriting.net ...
The distinguishing factor between the two is the degree of control over the corporation. The number
of shares owned is not decisive, even a shareholder owning a majority of shares may be a minority
shareholder, if other shareholders are well organized and, thus, control the company.
The company must follow the principles 'partnership' and consultation aims at balancing the interest
between major and minor shareholders, and usually do not infringe minorities rights through
guaranteeing at least the following minority rights such as respect of opinion of major shareholders
toward minorities, the right of minorities to be heard on regard of business matters and exit rights.
The limited Liability Companies, which are, in practical terms, run, as if they were a partnership,
between the persons who are shareholders of same, might be regarded by the law, as "quasi
partnership".
The OECD principles on Corporate Governance (2004) provide that: Shareholders, including
institutional shareholders, should be allowed to consult with each other on issues concerning their
basic shareholder rights as defined in the Principles, subject to exceptions to prevent abuse.
The protection comes from better legal protection, stronger structure of the internal control
mechanisms and more efficient capital markets and market for corporate control. One of the
methods to ensure the minority rights is to follow good Corporate Governance

Ford Company Analysis
Case Study: Ford Motor Company's VEP
Question 1
Go ahead with the Value Enhancement Plan
The feature of having both cash and new share options makes the VEP have its strengths and makes
an excellence choice for Ford Motor Company. The cash option solves the problem of Ford having
massive amounts of extra cash. Since Ford has no profitable activities for the extensive amounts of
cash, returning the excess cash to shareholders allows them to make profitable investments.
Different from a cash dividend, the returned cash will be taxed as capital gain and therefore achieves
tax efficiency for the shareholders. When looking at the company's point of view, they are able to
lower the dividend payment because there will be an increase ... Show more content on
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It would be inefficient for an institutional investor to elect to only the stock option. The reason for
this is because the VEP favors the Ford family members and dilutes the value of an investors voting
power. It would be hard to compete with the Ford family even if the investors were to put all of their
$20 cash into buying new common shares. A combination of both cash and stock would be a good
option for them as they would have an opportunity to get part of their investment out of Ford as well
as invest in opportunities somewhere else. In a sense, they would not be putting all their eggs in one
basket. They would have a good return on there initial investment if they take part of the $20 as
cash.
Outside Shareholder
If I were a regular outside shareholder I would choose the cash option because their main concern is
to make a profit while they care less about voting power. Going with the cash option is a good idea
because if I were a shareholder, I would think that Ford has few growth opportunities and cannot
find profitable plans for the future. This would give the shareholders the freedom to do as they
desire with the cash and make their own independent investments. Although the new price of shares
would decrease, the shareholders would not bear the loss because the cash they receive offsets the
reduced price. Note that any final decision as an outside shareholder should calculate in the tax

Occ Is A Maryland Corporation
OCC is a Maryland corporation that exists to serve utility companies and process telephone calls
from individual who intend to undertake excavation projects. OCC maintains contracts for its
services in a number of states across the county. At the time OCC was incorporated, it was
completely owned by Thomas Hoff ("Hoff"). Volkman was hired by OCC in 1984. When Volkman
was hired she held the title of Director of Operation. In 1993, Volkman entered into an employment
agreement whereby Volkman would serve as vice president of OCC at its corporate office in
Minnesota. Under this agreement, Volkman could only be terminated for "Good Cause," or upon
fifteen days prior notice. Volkman's responsibilities as vice president of OCC included, but were not
limited to, facilitating acquisitions, making hiring decisions, and establishing policies and
procedures. Additionally, Volkman was tasked with maintaining a contract in Minnesota with
Gopher State One Call ("GSOC"). Indeed, Volkman was a longtime employee of OCC who had
worked her way up through the organization and was highly valued. She was also highly
compensated, earning in excess of $400,000 per year. In or around 2007, Hoff expressed an intent to
divest himself of his interest in OCC and retire. In recognition that much of OCC's value is derived
from Hoff's association with the company, Hoff created Hanover as a holding company that existed
for the only purpose of owning shares of OCC. Under this arrangement, Hoff

Cooper Industries
Advanced Financial Management
Cooper Industries Case
March 30, 2009
Jesse Van Gestel
ID#200504399
Cooper Industries, Inc.
1. If you were Mr. Cizik of Cooper Industries, would you try to gain control of Nicholson File
Company in May 1972?
2. What is the maximum price that Cooper can afford to pay for Nicholson and still keep the
acquisition attractive from the standpoint of Cooper? [Treasury Bills yielded 5.6% in May 1972.]
3. What are the concerns and what is the bargaining position of each group of Nicholson
stockholders? What must Cooper offer group in order to acquire its shares?
4. On the assumption that the Cooper management wants to acquire at least 80% of the outstanding
Nicholson stock and make the same ... Show more content on Helpwriting.net ...
Nicholson's European distribution system could also be very helpful in expanding Cooper's sales in
Europe. As Cooper Industries sells more of their product to industry and Nicholson to the consumer
market by combining the companies they may be able to increase sales of both product lines to the
market segment they are weaker in.
2. FMV of Nicholson = $172,630,000
Per share value = $295.60
I was not able to come up with a valid firm value, as there was no information regarding how much
working capital will be increased by Nicholson over the next ten years, nor was there any
information available regarding how much capital expenditures would be increased. Capital
expenditures were assumed to equal depreciation and it was assumed working capital was not
growing.
3.

H.K. Porter bought their shares with the intention of taking over Nicholson themselves, however as
they were unable to acquire enough shares to buy the company they are now looking to sell their
shares. They would obviously like to do this profitably if possible and their primary concerns are
therefore the price and liquidity. They are looking to get the most money out the stocks that they can
and so price is of primary importance in bargaining with them. However, they also want to be able
to quickly liquidate their stocks and so would prefer to receive cash. Though they have expressed
that convertible preferred stock would be acceptable as they know Cooper stock is stable and is
easily

Essay on Conrail Case
Perspective: Conrail shareholder.
1. Why does CSX want to buy Conrail? How much should CSX be willing to pay?
Some of the reasons why CSX wants to buy Conrail are, to increase the consolidation in the Railway
industry. Further consolidation typically means lower cost for the consolidators fx because
economies of scale and synergies and ....
A consolidation also results in lower competition inside the industry, which typically follows with
higher, or at least not lower, prices and therefore higher profit.
Another argument that is mentioned in the materials is that CSX want to do the merger, before
another company tries. CSX doesn't want Norfolk southern to get Conrail.
CSX is willing to pay $92.84 per share.
2. Analyze the ... Show more content on Helpwriting.net ...
As the material (Harvard Business School, 9–298–006, July 2005) tells, would CSX together with
the management and the employees trust control 35,5% for the shares, and therefore would they
only need 14,6% to vote in favor of the opting–out, so it would pass. Then afterward would it be
possible for CSX to acquire the additional 20,3 % due to the first tier second stage, and then could
their proceed with the back–end offer for the remaining 60%. As mention earlier, because CSX
choose to offer two different prices to Conrails shareholders, were they required to do the first tier in
two stages.
3. As a Conrail shareholder, would you tender your shares to CSX at $92.50 in the first–stage offer?
Why or why not?
Consolidated Rail – Case B
4. Why did Norfolk Southern make a hostile bid for Conrail?
Due to the (Harvard Business School, 9–298–095, May 2001) Norfolk Southern expresses its
concern about a merger between CSX and Conrail. It would have significant consequences on
Norfolk Southern way of doing business. They could be excluded from important markets. As a
broker says letting the CSX Contrail merger pass could mean the end of doing business for Norfolk
Southern. We believe that this is the main reason, but Norfolk Southern can also see synergies
inform of both cost savings and increasing revenues.

5. In a bidding war, what should each bidder be willing

Case Analysis : Revlon, Inc. V. Macandrews And Forbes Holding
Under Delaware law, Revlon principles apply when a sale of control is in question, whereby the
duty of the board shifts from preserving the corporate entity to actions that ensure maximum
shareholder value. Revlon, Inc. v. MacAndrews & Forbes Holding, Inc., 506 A.2d 173 (Del.Supr.
1985). The key consideration when analyzing a merger agreement is whether or not the presented
deal constitutes a "sale of control," imposing "Revlon duties," which occurs when a corporation
undertakes a transaction that causes a change in corporate control or a breakup of the corporate
entity, such as: a sale or merger for cash or debt securities; merger for securities that transfers
control to a private company or to a public company with a majority shareholder; sale for cash
through active bidding process; and where, in response to a bidder's offer, a target abandons its
long–term strategy and seeks an alterative transaction. Paramount Communications, Inc. v. Time
Inc., 571 A.2d 1150 (Del.Supr. 1989); Paramount Communications Inc. v. QVC Network Inc., 637
A.2d 48 (Del. 1994) (clarifying what equates to a change–of–control); Revlon, Inc. v. MacAndrews
& Forbes Holding, Inc., 506 A.2d 173 (Del.Supr. 1985).
However, Revlon duties do not apply to a company's evaluation of whether or not to accept an
acquisition proposal or merger of equals or a common stock merger with a widely held public
company, but Unocal duties attach when analyzing measures taken to bar other proposals.
Paramount

Formal Meeting Guide For Two New Zealand Cultures Essay
Formal meeting guide for two New Zealand cultures
Submitted by: Submitted to:
Mandeep Singh Anika VATS
Student Id –14095424B
Tables of content
1. PART1 MAORI CULTURE .................................................................3
a. INTRODUCTION ABOUT MAORI HUI CULTURE, MARAE.........3
b. About the HUI introduction..........................................................3
c. AGENDA........................................................................................3
d. REGULATION................................................................................3
e. PROCESS FOLLOW AT HUI........................................................4
f. RECORD REQUIRED FOR HUI MEETING...................................5
2. PART 2 NZ CULTURE REGISTERED COMPANY'S ACT 1993..5
a. INTRODUCTION.............................................................................5
b. REGULATIONS AND STATUTORY REQUIRMENTS ASSOSIATED WITH SUCH
MEETING..........................................5
c. TYPICAL AGENDA OF SHAREHOLDER MEETING....................6 d. THE PROCESS
REQUIRED FOR SUCH A MEETING..................6 e. RECORD REQUIRED FOR SUCH A
MEETING...........................7
3. GLOSSARY OF THE MAORI TERMS.................................................8
4.

Essay about Investing and Monitoring the Stock Market
Over the past semester in Economics I have invested in and monitored the stock market. I learned
how investing in certain companies can be risky and proper research about the companies are
detrimental before buying stocks. Three stocks that have influenced most of my financial earnings
and losses include Twitter, Amazon, and Pepsi. I would like to introduce you to Twitter Inc., a
modern and popular form of self–expression on the Internet. It provides users with a plethora of
services including Twitter, an application that allows the user to share and distribute content to their
followers. The company also owns Vine, a mobile application where users can create and share short
looping videos, and #Music, another mobile application that ... Show more content on
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The highest value per stock under my ownership is $64.74 per a share on January 17th, 2014. The
lowest value per a stock is $30.30 as of May 24th, 2014. Next, I invested in a popular food and
beverage company, PepsiCo Inc. PepsiCo is comprised of multiple consumer segments in North
America such as: Frito Lay, Quaker Foods, Aunt Jemima mixes and syrups, Aunt Jemima mixes and
syrups, Quaker Chewy granola bars, Cap n Crunch and Life cereals, and Rice–A–Roni side dishes.
The popular beverage segment includes beverage concentrates, fountain syrups, and finished goods
such as Pepsi, Gatorade, Mountain Dew, Aquafina, etc. Since PepsiCo is worldwide, it has a handful
of segments that provide consumer goods to various country and serves wholesale distributors. The
company was founded in 1898 and is headquartered in Purchase, New York and expanded
worldwide first entering Japan an Eastern Europe in 1966 (PepsiCo). The company was established
by a merger with Pepsi–Cola and Frito–Lay and continues to add more brand names to its company
today. On March 22nd, 2014 the net income applicable to common shares was 1,216,000,000 this
number is a slight decrease from the 1,742,000,000 net income applicable to common shares on
December 28, 2013 (Yahoo Finance). Earnings this year have been good with a positive numerical
percentage of 3.76%. In the past year PepsiCo has invested five billion dollars in Mexico. This five–
year investment plan Focuses on Innovation and Brand

Business Shareholder
Analysis of Shareholdings as at 31 March 2010 | | Authorised Share Capital | : RM100,000,000.00 |
Issued and Paid–up Share Capital | : RM69,739,750.00 | Class of Shares | : Ordinary Shares of
RM0.50 each | Voting Rights | : One vote per ordinary share | | | Shareholdings Distribution Size of
Holdings | No. of Shareholders/
Depositors | (%) of Shareholders/
Depositors | No. of Share | (%) of Issued Capital | | | | | | 1 – 99 | 100 | 4.54 | 3,560 | 0.00 | 100 – 1,000
| 459 | 21.33 | 390,508 | 0.28 | 1,001 – 10,000 | 1,277 | 59.34 | 5,469,680 | 3.92 | 10.001 – 100,000 |
278 | 12.92 | 8,143,060 | 5.84 | 100,001 – 6,973,974 | 37 | 1.72 | 24,582,100 | 17.63 | 6,973,975 and
above | 1 | 0.04 | ... Show more content on Helpwriting.net ...
| Mayban Nominees (Tempatan) Sdn Bhd
– Malaysian Trustees Berhad For AMB Smallcap Trust Fund (240165) | 300,100 | 0.22 | 17. | Abu
Bakar Bin Suleiman | 286,400 | 0.21 | 18. | Lim Weng Ho | 282,700 | 0.20 | 19. | Universal Trustee
(Malaysia) Berhad
– Alliance Optimal Income Fund | 276,200 | 0.20 | 20. | Aun Huat & Brothers Sdn Bhd |
251,800 | 0.18 | 21. | Gan Tuan Boon | 250,000 | 0.18 | 22. | Mayban Nominees (Tempatan) Sdn Bhd
– Etiqa Takaful Berhad (Group Fund) | 250,000 | 0.18 | 23. | Liew Wai Kiat | 237,600 | 0.17 | 24. |
Mayban Nominees (Tempatan) Sdn Bhd
– Mayban Life Assurance Berhad (Shareholders FD) | 200,000 | 0.14 | 25. | Mayban Nominees
(Tempatan) Sdn Bhd
– Etiqa Insurance Berhad (Life Annuity FD) | 200,000 | 0.14 | 26. | HSBC Nominees (Tempatan)
Sdn Bhd
– HSBC (M) Trustee Bhd For MAAKL Dividend Fund (5311–401) | 170,000 | 0.12 | 27. | Mayban
Nominees (Tempatan) Sdn Bhd
–Etiqa Takaful Berhad (Annuity Fund) | 155,600 | 0.11 | 28. | Chia Kun Juan | 150,000 | 0.11 | 29. |
Oh Siew Heong | 150,000 | 0.11 | 30. | Olive Lim Swee Lian | 140,000 | 0.10 | | | Directors'
Shareholding as per register of directors as at 31 March 2010 | | No. of Shares Held | Name | Direct |
*(%) | Indirect | (%) | | | | | | Tan Sri Dato' Dr Abu Bakar Bin Suleiman | 286,400 | 0.21 | 13,000 | 0.01
| Dato' Dr Mohamad Hashim Bin Ahmad Tajudin |

A Modern Waste Water Containment Facility
As the chief operating officer of Brantford Manufacturing Co, I have enclosed an appropriate case
analysis to effectively resolve the issue with the pollutants disrupting business activity. Two distinct
solutions are provided along with a final recommendation to the board of directors in hopes of
satisfying both parties beyond expectations.
To begin, a corporation is run for the interest of shareholders alone. That is why solution Alpha
proposes that both corporations should operate for the interest of long–term share performance. Past
results reveal that BMC is highly successful through its doubling of share value in the past 5 years
through its main revenue source, the Brantford operation. Thus, in order to remain at its current
state, it is crucial that the Brantford factory remains through the construction of a modern waste
water containment facility. The benefits associated with this solution are that it allows the business
to operate in the foreseeable future, potentially generated 5% dividends for shareholders as it once
did in the past. By providing consistent quality products produced by the Canadian workforce,
keeping our promise with the Ontario government. It also resolves a flooding problem within
Brantford, preventing future law suits directed towards BMC from the Brantford community. Brand
image will also be maintained if not improved as our activities will be marketed as a corporate
social initiative as it creates a positive environmental impact for the local

The Middle Of The 19th Century
Introduction
The middle of the 19th century, it was thought to be an unexceptional practice if a company's
purchase of its own shares back. However, the point of view against the continued existence of the
power began to grow in force after the advancement of the model of limited liability. The ruling out
on share repurchases was as a final point added into the common law in Trevor v Whithworth. The
prevention was afterward enacted in companies' legislation in England and subsequently in the
different Commonwealth countries, as well as Australia. The Act integrated two requirements of
particular consideration to the Lords. Firstly, there was a condition that the company should give its
nominal capital. Secondly, the legislation provided for an all–inclusive practice for reducing capital
and the assets of the company.
It is an essential reason of corporate law that the share capital of a company should be maintained.
Nonetheless, a corporation limited by shares is open to shrink its share capital by a ruling of its
members provided that the decrease is not prohibited by its Bylaws and Memorandum of
Association and the company act in accordance with the procedures set out in the Corporation Act
2001. The concept of reduction in share capital is delineated as the method of lessening a company
's shareholder equity through share cancellations and buy–backs. The reduction of funds is done by
companies for several reasons as well as the increasing value of shareholder and

Carborundum Case Solution
Part A (i) Issue: Are members liable for Carborundum's debts when winding up? Rule &
Application: Since Carborundum is limited by shares and member's liability is amount unpaid on
share held, Alan, Ben and Colin who fully paid up their shares owed no liability, while others had to
pay unpaid $0.9/shares. As stated in Salomon , debt is therefore the company's responsibility, and
the 'corporate veil' protects shareholders in their personal capacity from any liability. Conclusion:
Alan, Ben and Colin owed no liability, Eric Sanders owed $3600 (4000*0.9), Donald Thump owed
$10800(12000*0.9), and Inventions owed $19800 (22000*0.9) (ii) Issue: How can company remove
Hilary from her position? Rule & Application: Firstly, Carborundum can ... Show more content on
Helpwriting.net ...
(iv) Issue: Can other directors remove Clause 5(further requirements) and then remove Hilary as
chief engineer? Rule & Application: GM can remove Clause 5. Clause 5 can only be removed when
the Clause 5 itself is applied there is 80% approval at a GM (s136 (4)). After removal of Clause 5,
Carborundum can fire Hilary. If there is a separate employment contract between Hilary and
Carborundum, Carborundum would breach the contract and pay for damages. Conclusion:
Shareholders may vote to remove clause 5 considering 5 out of 6 shareholders agree the removal.
Part B (i) Issue: Is it possible not to pass deletion of Clause 3 in GM by Inventions? Rule &
Application: In order to remove Clause 3, a special resolution must be passed. (s136 (2)). Therefore,
on the GM, it only requires one of Alan, Ben, Colin and Eric to vote against Inventions in order not
for deletion of Clause 3 to happen. Besides, Donald's concern is unnecessary because according to s
125, the statement of company's objects is optional and business contrary to any objects in the
company's constitution carried out by the company is not invalid irrespective of whether object
clause exists or not. Conclusion: Donald only needs to make sure one of Alan, Ben, Colin and Eric
votes against Inventions. (ii) Issue: Is it possible not to pass both change of name of Carborundum
and change

The Pros And Cons Of Shareholders
Shareholders of the company have ultimate control of the company. They can appoint and remove
directors who run the business and are also responsible for its management of the company.
A general phenomenon about the corporations is that shareholders must accept majority rule in a
company. Shareholders who own majority of the shares, feel that they have right to make majority
of all decision because they have more at stake. Minority shareholder can also participate in
company affairs by checking majority shareholders power, and promote transparency, ethical
practices and good governance (OECD, 2004) but they are often regarded as an unnecessary burden
a "dead weight" in corporation (Shkolnikov, 2006)
In environment where the legal system fails ... Show more content on Helpwriting.net ...
Two or more shareholders holding not less than 10% of the issued share capital of the company, or
such lesser number as is provided in the Articles, may call for an EGM.
3. The General Right to Be Treated Fairly
The general right of a shareholder, in particular a minority shareholder, to be treated fairly. A
shareholder may apply to court for assistance where;
a) The affairs of the company are being conducted or the powers of the directors are being exercised
in a manner oppressive to one or more shareholders or in disregard of his or their interests as
shareholders; or
b) Some act of the company has been done or is threatened or that some resolution of the
shareholders or any class of them has been passed or is proposed which unfairly discriminates
against or is otherwise prejudicial to one or more of the shareholders.
Certain Protection Provided by Companies Act 2006 of UK General protection of minority
shareholder – against unfair prejudice A shareholder may apply to the court by petition on the
ground that the company's affairs are being or have been conducted in a manner which is unfairly
prejudicial to the interests of its shareholders generally or some of them (including at least the
applicant), or that any proposed act or omission of the company would be so prejudicial(DOV
OHRENSTEIN, 26th May

Essay about How the Downfall of RBS Could Have Been Prevented
1. What is the core idea behind agency theory?
2. Can you use agency theory to analyse:
a. the rise and downfall of RBS;
b. the mortgage debt crisis more generally?
3. Who is/are the principal(s) and who is/are the agent(s) in your analysis?
Can you think of one threat that arises from the use of agency theory in developing measures aimed
to prevent future banking and/or financial failures?
The emergency rescue of the Royal Bank of Scotland in 2008 has cost the UK government thus the
British taxpayer a huge amount of money. Many people are upset about the high bonuses the RBS
management board have received, both because of the outrageously high amount and because the
performance of the bank on the long–term was not good at all. ... Show more content on
Helpwriting.net ...
By pursuing this, the manager (agent) also pursues the goals of the shareholders (principals). At
least that is the idea behind it.
The Royal Bank of Scotland – just like many other banks and businesses – paid out its managers
considerable bonuses for their performances. Managers at RBS started maximising their bonuses by
aggressive actions such as take overs and investing in complex financial products. These actions
caused the profits of RBS to grow rapidly, which meant high bonuses for the managers. These
actions, however, also meant the stability and financial safety of RBS on the long–term got worse
and worse. This was not a problem for the managers as they had already earned their bonuses. A
different bonus structure probably would have prevented the reckless actions of the RBS managers.
Bonuses of managers could be paid out in shares which they are obliged to keep for a certain time
period, e.g. 5 years. That way the share price on the long term is of importance for the managers and
the goal of the shareholders is aligned with the goal of the managers. However, the share price is
dependent on much more factors than the performance of just one manager. There is a risk that
managers would feel they have little to none influence on the share price and still make risk full
decisions. Another possibility would be determining the bonus of a manager on their performance in
the long run, e.g. 5 years. A combination of these two bonus

Acct 553 Week 5
14–24.
What is the purpose of the dividends received deduction? What corporations are entitled to claim
this deduction? What dividends qualify for this deduction?
The purpose of dividends–received deduction is to prevent triple taxation of earnings. The Dividend
Received Reduction (DRD) is the concept where a corporation receiving a dividend from another
corporation does not have to pay taxes on that dividend they received.
Code Sec243 of the IRS provide relief to domestic corporations, when paying dividends to its
shareholders, which is subject to tax. In another words, the relief is the paid dividend to others
corporations, in which the income would be tax a third time after the recipient corporation pays
dividend to its ... Show more content on Helpwriting.net ...
Type G: Transfer
Type G reorganizations involve bankruptcy by permitting the transfer of all or some of a failing
company 's assets to a new corporation.
17–24.
Define and differentiate a spin–off, split–off, and split–up.
Split–up: An arrangement whereby a parent corporation transfers all of its assets to two or more
corporations and then winds up its affairs. When a split–up occurs, the shareholders of the parent
corporation surrender the total amount of their stock in exchange for stock in the transferee
corporation.
Split–Off: The process whereby a parent corporation organizes a subsidiary corporation to which it
transfers part of its assets in exchange for all of the subsidiary 's capital stock, which is subsequently
transferred to the shareholders of the parent corporation in exchange for a portion of their parent
stock. A split–off differs from a spin–off in that the shareholders in a split–off must relinquish their
shares of stock in the parent corporation in order to receive shares of the subsidiary corporation
whereas the shareholders in a spin–off need not do so.
Spin–Off: The situation that arises when a parent corporation

The Lack Of Ppi Claim Deadline Hurt Lloyds Shares
5 – Will the lack of PPI claim deadline hurt Lloyds shares?
The PPI (Payment Protection Insurance) scandal has gripped the United Kingdom, as millions were
seemingly undone by this somewhat fraudulent contractual term. PPI is also known as credit
insurance, loan repayment insurance, or credit protection insurance and relates to the insuring of a
loan repayment should a borrower become ill, unemployed, or pass away. Sadly, while it sounded
like a fair enough concept on paper, it was far from it on reality. Banks such as Lloyds were mis–
selling PPI, with some even having no idea that they had PPI until they faced charges later on. The
issue related to PPI would take years to come fruition, but when it did Lloyds shares would pay a
heavy ... Show more content on Helpwriting.net ...
This presents a serious issue for Lloyds and Lloyd shares, especially considering that in other
departments the bank is seen as a notably strong performer.
Addressing the matter head on, Lloyds is leading the charge when it comes to capping the time in
which a PPI claim is made. The original plan was for a deadline of 2018 to be implemented, but
Lloyds want it brought forward in attempt to boost Lloyds shares prospects. Speaking on the matter
Lloyds Finance Chief George Culmer said, "We think that by implementing a shorter time bar, it
will force people's hand. It will make those people who have a potentially outstanding claim to act
more quickly". Pushing the matter forward, he has also declared the original cut–off date of 2018 to
be "unnecessary and excessive".
The facts are clear; people are apprehensive when it comes to Lloyds shares because the matter of
PPI has still yet to be settled. The results announcement failed to deceive in the sense that PPI is
being shown to be a huge burden on Lloyds, and in many ways is a black cloud that is hanging over
the bank. Since the turn of the 2008 credit crisis, Lloyds is one of the few banks that has been truly
able to steady ship. The problem is that due to PPI concerns that isn't necessarily showing within the
price of Lloyds shares.
6 – Why are some traders unimpressed with Lloyds shares?
Lloyds are

Memorandum: Net Present Value and Apex Investment Partners...
MEMORANDUM
To Apex Investment Partners:
According to my analysis of the Accessline's proposed term sheet, I do not believe that Apex would
serve its own interests, or those of its investing partners, by investing in Accessline according to the
terms proposed. By investing at the proposed valuation, according to the proposed control and
incentive structure, Apex would be shouldering a disproportionate share of the risk should
Accessline fail to meet its performance targets, or require fresh inflows of capital from future
investment rounds. Nor can Accessline take the sort of steps necessary to protect its investment in
the case of management failure.
Should Apex make a counter–offer, I would suggest the following terms: ... Show more content on
Helpwriting.net ...
First and foremost, Apex must insist on the right to elect one director to the board. Series A investors
already have one seat, and the current voting clauses allow Series A to effectively retain control of
decision making by requiring 2/3rds majority for many key decisions. Should future funding rounds
be required, those investors may insist on seats on the board.
Apex must remove antidilution protection from employee shares, as this removes a significant
incentive for employees and management to reduce Accessline's burn rate. However, as Series A
investors retain a veto over the deal, their shares must be allowed to retain anti–dilution protection.
Additionally, we may propose a point at which additional investment rounds (above and beyond
$32m of fresh capital) would cause dilution of ESOP shares at an accelerated rate.
Dividends should be made cumulative and issuable upon a liquidation event or an IPO. Such
dividends may be converted, if the holder desires, to common shares. This will encourage
management to seek a quicker exit.
Liquidation preference must be strengthened in other ways. In my opinion, the current arrangement
allows management and employees to receive unjustified returns in the case of a liquidation. I
suggest a ratio of 1.5 times the Series B purchase price, applicable to Series A shares, with the
remainder to be

Conrail Case
1
The Acquisition of Consolidated Rail Corporation
1. CSX wanted to merge with Conrail, because the consolidated company would have more than
$8.5 billion in rail revenue and almost 70 % of the Eastern market. Gain in Operating Income from
Cost Reduction would bring additional $370 million by the year 2000. Total gain from revenue
increase would result in additional $180 million. And from the operating income would reach $550
million. Another important point in CSX–Conrail merger is the better competitive position in both
long–haul and short–haul routes through cost reduction. The last reason for buying the Conrail was
the fear of CSX Company to lose competitive advantage and as a result to lose a lot of revenue, if
Conrail merge with ... Show more content on Helpwriting.net ...
So, the most important reason for Norfolk Southern to make this bid was a desire to survive, it is
like survival insurance. 5. In order to determine this value, we should take two aspects into
consideration. Firstly, CSX was the first bidder, which implies that Norfolk Southern 's offer is a
reaction to that of CSX. Norfolk Southern hostile bid of $100 per share represented a 14.1%
premium over CSXs blended offer of $89.07. But if we look at the next reaction of Norfolk
Southern, this offer did not create the reaction Norfolk Southern was hoping for, since after the new
amendment made by CSX of $110 per Conrail share, Norfolk Southern offered after only two days
the same value. CSX maintained its position at $110 per share for the front–end until the last day
before the shareholders vote, but increased its back–end position (adding $16 of new convertible
preferred stock to the back–end offer) 4 days before the vote. Norfolk Southern also increased its
offer to $115 per share.
3
At the beginning the offer was a reaction to the CSX bid; then other factors came into play, such as
time, the time span until the vote of the shareholders, the legal procedure (since the judge ruled
against Norfolk Southern). Secondly, the outcome of this process will determine the future
development of the companies involved. The merged companies, the winners, will survive, whereas
the loser will disappear from the market. Based on this fact we might assume that each

Mikes Bike Rollover 5
Rollover 5: Year 2015
Review of Previous Year's Results (2014)
From the industry benchmark report for 2014, (appendix) between the year 2013 and 2014 our share
value increased from 15.80 to 27.04 placing us ahead of everyone in our world. That is an increase
of 172%. From out firm reports (appendix), our net income of 2,764,446 unfortunately fell short of
our profit forecast. of 3,501,014. Even though our share holder's value was the highest amongst our
competitors, our profit before taxes was second to Bikes 'R'Us by a total of $450,000. They had a
profit of 4,339,987 while we only had a profit of 3,949,209. A part of the reason why our net income
didn't meet our forecasts and profit before taxes fell short of Bikes'R'Us is due to ... Show more
content on Helpwriting.net ...
Our reasoning for such a significant increase was to give us the ability to have a lower volume of
supplies, leaving more capacity for the new bike. Since we do not want high volume of sales for the
mountain bike, we decided to eliminate all advertising and public relationship expenses for the
mountain bikes.
For the youth bike we decided to keep the advertising expenditure at 2 million in order to raise the
awareness of this new product line. This also helps establish a good market share in case
competitors also decide to launch the youth bike. Since we have a low capacity for the bike, we also
decided to increase the price from $370 to $400, resulting in an increase in gross margin. With this
increase, we are still producing at a high yet relatively low volume.
Operations Decisions
We decided to decrease the price of mountain bike production from $134 per bike to $108. The
difference of $26 for 11,000 units results in a saving of almost $300,000. In the meanwhile, we also
decided to dump our finish goods inventory, incurring a loss of $175,000. We decided to increase
our capacity from 20,000 to 27,500 and efficiency from 1,000,000 to 2,000,000. We want to avoid
increasing capacity significantly in order to avoid low efficiency. At the same time we want to keep
our wastage at a minimum. We reduced our retail margin for the bike and sports store to 20% while
reducing the discount stores to 27%. These new retail margins

Why Do Young Adults Move Into Share Housing
The allure of house sharing: Strangers and a mutual microwave
Michaela Daly
ABSTRACT Social change within the western context has redefined the concepts of "adulthood"
and "house formation". Despite an increasing decline in marriage between the ages of 20 and 29,
young individuals continue to leave their parental homes. The previous literature identifies both
social and economic motivations what continues to be this defining moment of independence. This
research project attempts to demonstrate the reasons for which young adults seeking such
independence engage in share housing.
Background
Share housing has become increasingly popular since the mid–twentieth century (Goldsheider &
DaVanzo 1989). Once assumed to be a product of economic constraint, particularly among students,
share house living has since become a representation of modern adulthood. Historically, marriage
was the most powerful motivator for young adults, particularly women, to leave their parental home
(Pooley and Turnbull 1997). Between the eighteenth and twentieth centuries, the transition to
adulthood was defined by, and adult identity rooted in, the attainment of "spousal status" with the
formulation of a family to follow (Kenyon & Heath 2001b). The wealth of literature on the
transition to adulthood ... Show more content on Helpwriting.net ...
The overarching enquiries of this research seek to determine: What age do young adults move into
share houses? Was the move into a share house voluntary or involuntary? Are economic
considerations apparent in the choice to join a share house? To what degree do social considerations
influence their choice? How is independence impacted by living in a share house? Researching these
questions will provide insight into the changing attitudes towards the traditional forms of household
and transition to adulthood, as well as how young adults perceive expectations of

Financial Principals and Policies
Xin Zheng xinzheng@callutheran.edu Chapter 1
2. What are the differences between shareholder wealth maximization and profit maximization? If a
firm chooses to pursue the objective of shareholder wealth maximization, does this preclude the use
of profit maximization decision–making rules? Explain.
Profit maximization means the company makes profit maximize. Maximize shareholder wealth
states that management needs to bring maximize the value for its owners by make the most efficient
resources and reasonable financial management. Therefore, shareholder wealth maximization
include the profit–maximization model, it considers not only profit maximization model, but also
the timing of return and the risk of the company. The most important the ... Show more content on
Helpwriting.net ...
As we know, the returns offered to creditors are fixed but the returns to stockholders are variable. In
this case, RJR was acquired by KKR, the debt of RJR increased from 38% of total capital to nearly
90% of total capital. This will decrease nearly 20% of the value of RJR's bonds. The owner try to get
the hope of receiving better returns through increase the risk of the company's investments. So that,
stockholders be influenced when this happen. The reason is that they don't have chance to share in
these higher returns. Because of this loss of value, Metropolitan Life Insurance Company and other
large stockholders sued RJR for violating the rights of stockholder and protections under the bond
covenants. Ultimately, they settled the suit due to the benefit of Metropolitan. Stockholders cannot
resist this transaction even through this decision may have high risk.
Chapter 2
2. An investor bought 100 shares of Venus Corporation common stock 1 year ago for $40 per share.
She just sold the shares for $44 each, and during the year, she received four quarterly dividend
checks for $40 each. She expects the price of the
Venus shares to fall to about $38 over the next year. Calculate the investor's realized percentage
holding period return.
The investor's realized percentage holding period return= ( Income+ Ending Value– Beginning
value)/ Beginning Value
[(4400–400+4*(40))/4000]*100%=14%

Pershing Square Capital Management Essay
In 2011, Pershing Square Capital Management acquired some 14.2% of Canadian Pacific Railway's
(CP) outstanding shares and proceeded to require several changes in the management and
governance of the company. The CP board resisted fiercely these entreaties, which led to an intense
proxy fight. Eventually, Pershing won the battle and brought in a new CEO and new board members
and designed a new strategy for CP as well. Since the shakeup of the CP's board and senior
management, the company's stock price has more than triple between 2011 and 2016. Furthermore,
under the new management, CP increased operational efficiency, improved performance and
enhanced competitiveness. These performance ratios and financial indicators show that CP benefited
... Show more content on Helpwriting.net ...
It is often the case that activist shareholders are only interested in the short–term profit; a strategy
that is at odds with the interest of the company and the ordinary shareholders.
In 2016, for example, the hedge fund firm Pershing Square Capital Management sold its 9.8 million
shares it held in CP. At that time, the stake was worth $1.9 billion at the railway's closing price of
$192.49 per share on the Toronto Stock Exchange, while Pershing acquired the stock when it was
trading at around $69 in 2011.
Although CP's performance and efficiency improved after Pershing brought in a new management
between 2011 and 2016, it seems that Pershing was primarily interested in the short–term profit
from the investment in CP Rail and not in the long–run success and health of the company.
In the case of the bankruptcy of Sears, the company's pensions were short of $300 million in 2018
while the firm's shareholders had received 3 billion over the past few years. Some of payments went
to the U.S. hedge fund ESL Investments and its CEO Eddie Lampert, who took control of Sears in
2005. Former Sear's employees are understandably upset as it looks as if their pensions were
sacrificed at the expense of a hedge fund firm's

The Impact Of A Share Repurchase Program For A Fictional...
Summary
We considered the impact of a share repurchase program for a fictional company – Blaine
Kitchenware, Inc.
It was determined that the liquidation of $209 million in cash and marketable securities and the
addition of $50 million in long–term would result in a capital structure which was reasonable and
sustainable. Overall, tax expense would be lower, the value of the firm would increase and the
riskiness of the company's equity would edge just a touch higher.
From the perspective of both family and non–family shareholders, a share repurchase program is the
right thing to do. The only possible objector to the proposal would likely be the U.S. Secretary of
the Treasury.
Background information
Blaine Kitchenware, Inc. (BKI) is a publicly–traded, United States–based producer of residential
kitchen small appliances (e.g. waffle irons, coffee makers, etc.). Relative to its average competitor in
this marketspace, BKI has a strong EBITDA Profit Margin (22%, mean 18%) and Net Profit Margin
(16%, mean 10%) but a much weaker ROE (11%, mean 25.9%). See Appendix A for a full financial
comparison.
The company's current and long–standing policy to remain completely unlevered in order to keep
cash available for possible future acquisitions and eliminate the interest and fee expenses associated
with debt financing. As of 12/31/06 BKI had a cash stockpile of $53.6 million and no net debt.
While the "appropriateness" of this policy may be debated, a few red flags have started to

Hillary Clinton's Influence On Social Media
Just days after Hillary Clinton entered the 2015 presidential race, the Daily Mail accused Clinton of
having bought her Twitter followers, reporting that more than 2 million of Clinton'sfans were fake,
or had never tweeted. If Clinton did buy followers, she certainly wouldn't be the first to purchase
influence on social media. Both Mitt Romney and Barack Obama have been accused of having fake
Twitter followers; even the US Department of State, which had more than 400,000 likes on
Facebook, said it would stop buying fans after it was criticized for spending over $630,000 to boost
numbers in 2013.
It's not just about how many followers you have, though–a Google search for "how to improve
social shares," returns 725 million results. Why do ... Show more content on Helpwriting.net ...
The simple action of sharing is actually pregnant with meaning–from the quiet boast behind an
intelligent share, to the hint of pride in being a first, Trendsetting Sharer, or conversely, the comfort
of being one–in–a–million Amused Disseminators. Most importantly, we might learn some more
specifics about how reliability and trustworthiness factor into the sharing equation.
So, we analyzed over 90 articles from three blogs–Contently, Moz, and Buffer–to find out if there
was any correlation between outlink authority and social sharing. While it was a small study, the
results certainly gave weight to the importance of credibility and good reporting, while at the same
time hinting at a complex landscape, where readers in different niches may share different types of
content in unexpected ways.
So, why do people SAY they share on social media?
Nobody specifically says they share articles because they come from a publication with a high
domain authority. In fact, most typical Internet users probably don't even know that Moz has created
a domain authority score that basically measures trustworthiness by linking 14 different factors and
tracking the "strength" of a website over

Financial Restatement Paper
University of Phoenix ACC/537
After the introduction of the Sarbanes Oxley Act lots of companies have had to submit financial
restatements in their financials. This paper is to examine the financial restatements that have been
done by Kodiak Energy Inc. over the past several years due to incorrect reporting on the value of
their stocks. Kodiak Energy entered into an agreement with to purchase land from Thunder River
Energy in exchange for shares of stock in the Kodiak Energy Company. Kodiak Energy issued seven
million shares reported to be worth $2.00 per share. The SEC decided to look into this arrangement
and ... Show more content on Helpwriting.net ...
Kodiak Energies paid a heavy price
The shareholders were not pleased about the deception that Kodiak Energy had deceived them on
and quickly showed them the repercussion of lying and stealing from them. Over the next five years,
Kodiak Energies stock went from being worth $3.65 a share to a mere .10. Even though the
company tied to rectify the situation with a restatement, their years of dishonesty caught up to them
and they were unable to rectify their reputation by simply failing a misstatement. Kodiak Electric
almost put themselves out of business by trying to steal $1,125,835 from their shareholders pockets,
and reporting it as additional capital paid in to make it seem legitimate.
Restatements can be helpful if they are used to explain honest mistakes. Misstatements cannot be
used to cover up illegal accounting procedures. Shareholders will take notice and the end results can
be devastating to a company's business.
References
Flow–Through Shares Explained. (n.d.). Retrieved June 16, 2012, from http://www.flow–
throughshares.com/flow–throughexplained.htm
Kodiak Energy, Inc. Restatement of Financials. (2009, March 17). Marketwire: press release
distribution, newswire, public relations,investor relations, breaking news, media monitoring.
Retrieved June 15, 2012 from http://www.marketwire.com/press–release/Kodiak–Energy–Inc–
Restatement–of–Financials–TSX–VENTURE–KDK–962647.htm

Kieso, D. E., Weygandt, J.

Why Bollenbach Opened His Bidding at $55 per Share
1. Why might Bollenbach have opened his bidding for ITT at $55 per share? What was his likely
strategy? The $55 value is on the lower range of the analyst eztimates, with a best guess estimate of
$67.94. Since the value of the stock had been below $45 for 4 months, the offer of 55 dollars
represented a 29% premium to investors. Bollenbach knew that management would be resistant of
any attempt to be acquired, regardless of price, because of failed previous attempts to negotiate a
friendly merger at year end 1996. The 55–dollar benchmark created an expectation for ITT
management to achieve that level, or higher and the premium is enough to demonstrate to investors
it is a real offer. Their support will be key as they will have a ... Show more content on
Helpwriting.net ...
Below are the FCF estimates relevant to the merger of ITT from Hilton 's perspective, and a
sensitivity analysis based on possible discount rates: Value of ITT to Hilton Lodging $ 355 $ 127 $
102 $ 159 $ 213 Gaming $ (598) $ (11) $ 195 $ 213 $ 235 Education $ 19 $ 24 $ 27 $ 31 $ 35 World
Directories $ 355 $ 127 $ 102 $ 159 $ 213 Trivesture Synergies 69 72 75 78 81 Merger Synergies
100 100 100 100 100 Terminal Value $ 14,114 Discount Rate Enterprise Value Debt Value of Equity
Price Per Share 7.00% $12,409.12 $4,000 $8,409.12 $72.49 7.50% $12,140.72 $4,000 $8,140.72
$70.18 8.00% $11,879.52 $4,000 $7,879.52 $67.93 8.50% $11,625.30 $4,000 $7,625.30 $65.74
9.00% $11,377.85 $4,000 $7,377.85 $63.60 9.50% $11,136.93 $4,000 $7,136.93 $61.53 10.00%
$10,902.37 $4,000 $6,902.37 $59.50 10.50% $10,673.95 $4,000 $6,673.95 $57.53 11.00%
$10,451.49 $4,000 $6,451.49 $55.62 4. What do you expect the price of ITT's equity would be if
Hilton's bid were to fail? Would it collapse to its pre–tender–offer trading value of around $44?
Would it remain stable at its existing level of around $60, or would it rise to meet

Hnd Company Law Outcome 4
1. A company has a separate legal personality from the members in the company so in law it has
separate rights and liabilities. The company can enter contracts and own property which wouldn 't
make the members of the company liable only the company itself.
The case which illustrates this is Salomon v Salomon & co (1897) Salomon formed a limited
company to take over his business, himself, his wife, his daughter and four of his sons each
subscribed for one share. When the company fell on hard times and the liquidator was appointed
salomon was entitked to be paid before the unsecured trade creditors as he was a secured creditor. In
this case the trade creditors recieved nothing and the unsecured creditors claimed all the remaining
assets on ... Show more content on Helpwriting.net ...
Documents which are to be delivered are a Memorandum of association which is a prescribed form
signed by the subcribers, it states that the subscribers wish to form a company and agree to be
members of it, if the company has a share capital then each subscriber agrees to subscribe for at
least one share. The articles of association are required if the company does not adopt model
articles, they will be signed by the same subscriber, dated and witnessed. Statement of proposed
officers which is a statement giving the particulars of the propsed director and company secretary if
applicable. A statement of compliance which is a statement that the requirements of the Companies
Act in respect of registration have been compiled with. A statement of capital and Initial
shareholdings which will only be required for companies which are limited by shares, if a company
is limited by guarantee then a statement of guarantee is required. A registration fee is also payable
on registration.
4. The constitutional documents of a company comprises of the Articles of Association and any
resolutions and agreements it makes which will affect the constitution. The resolutions are decisions
passed by members which will affect the company 's constitution as they are used to introduce,
amend or remove provisions in the articles. Agreements made between the company and members
are also deemed as amending the constitution.

Accounting Restatement Has Been A Hot Subject For Academic...
Accounting restatement has been a hot subject for academic research since the recent high profile
financial reporting failures. Much of the academic research on restatements has explored the causes
and consequences of financial statement restatements (Kinney and McDaniel 1989; Dechow et al.
1996; Hribar and Jenkins 2004; Kinney et al. 2004; Palmrose et al. 2004; Desai et al. 2006; Karpoff
et al. 2008; Plumlee and Yohn 2010; Schmidt and Wilkins 2011). This investigation is driven by the
assumption that weak corporate governance partially explains financial reporting failures and
accounting restatements (Abbott, Parker, and Peters 2004; Argawal and Chadha 2005; Srinivasan
2005). This paper extends the restatement literature by investigating ... Show more content on
Helpwriting.net ...
However, as it is seen in today's corporate world, some corporations are moving away from the one–
vote one–share norm to the dual–class structure. Dual class companies typically offer two classes of
common stock, class A and class B shares, with each class offering different voting and cash flow
rights. Usually, one share class, otherwise known as the superior class, is offered to company
founders, their families, and top executives.
The superior share class offers multiples votes per share to founders, their families, and top
executives. Such superior voting rights insulate corporate insiders from outside control and threat of
takeover including that by investors that have accumulated large blocks of the company's publicly
traded shares. The most common dual class structure grants ten votes per share to the restricted
voting class (Smart and Zutter, 2003). The other share class, also called the inferior class is offered
to the public granting one vote per share. Most dual class companies are family controlled. Dual
class ownership structure is common among entertainment and media companies (Smart and Zutter,
2003) such as Dow Jones and Co. Inc., Washington Post Co., and New York Times Co. (NYT).
Other big companies such as Alibaba Group Holding Ltd., LinkedIn Corp., Berkshire Hathaway
Inc., Facebook Inc., Ford, Google, and Groupon have also adopted the controlled feature the dual
class structure offers.

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