Sherwin-Williams updated its sales and earnings expectations for the first quarter and full year 2008. For Q1, net sales are expected to increase in the low single digits compared to last year, and EPS is forecasted to be between $0.56 to $0.61, lower than previous guidance. For the full year, net sales growth guidance remains at low-to-mid single digits, but EPS is lowered to a range of $4.70 to $4.85. The shortfall is due to lower than expected domestic sales, raw material cost increases, and a shift in business mix towards lower margin segments. The company is implementing cost cutting measures to offset challenges in the housing market.
wal mart store Quarterly Earnings Releases2008finance1
This transcript summarizes Wal-Mart's Q1 2008 earnings call. Key points include:
- Total sales for Q1 2008 were $85.4 billion, an increase of 8.3% year-over-year. Net income rose 6.2% and EPS was $0.68 per share.
- International sales increased 18.5% led by strong growth in Mexico and the UK. Walmart US experienced challenges with comp sales up just 0.6%.
- Gross margins were down 8 basis points due to pressure in the US. Expenses were up 7 basis points but flat excluding a litigation charge. Inventory growth outpaced sales growth.
- The outlook for the rest of
Reliance Steel & Aluminum Co. reported record financial results for Q3 2008 and the first nine months of the year. Net income for Q3 was $152.5 million, up 63% from Q3 2007. Sales were a record $2.57 billion for the quarter, up 42% from Q3 2007. For the first nine months of 2008, net income was a record $416.5 million, up 27% from the same period in 2007, on record sales of $6.58 billion, up 18% from the first nine months of 2007. The results were driven by acquisitions and higher prices earlier in the year, but volumes declined in Q3 and challenges are expected to continue
This document provides the transcript from Aon Corporation's third quarter 2008 earnings conference call. The call discusses Aon's financial results for Q3 2008, including organic revenue growth of 2% and adjusted EPS growth of 33% year-over-year. Aon executives note continued progress on key commitments of organic growth, margin expansion, and EPS growth despite difficult market conditions. They also highlight ongoing investments across the business and growth in various regions.
wal mart store Quarterly Earnings Releases2009finance1
- Wal-Mart reported second quarter earnings for fiscal year 2009, with net sales of $101.6 billion, an increase of 10.4% from the prior year.
- Diluted earnings per share were $0.86, up 14.7% from $0.75 in the prior year second quarter.
- US comp store sales increased 4.5% excluding fuel, outperforming Wal-Mart's guidance for the quarter. Wal-Mart raised its full-year earnings guidance due to strong underlying operations.
The document is a transcript of a conference call for Reliance Steel & Aluminum Co. discussing their financial results for Q4 2008.
[1] Reliance reported record sales and profits for 2008 but saw a decline in Q4 results compared to Q3 as demand and pricing fell substantially in November and December. [2] The company reduced inventory by $500M and cut approximately 800 jobs, or 7% of its workforce, during Q4 to manage costs in the difficult environment. [3] While the near-term outlook remains uncertain, Reliance believes it is well-positioned for any environment due to its diverse geographic footprint and customer base.
wal mart store Quarterly Earnings Releases2009finance1
This transcript summarizes Wal-Mart's Q1 2009 earnings call. The call began with Carol Schumacher introducing the agenda, which included comments from Lee Scott on the company's performance and economic outlook, details on financial results from Tom Schoewe, business updates from Eduardo Castro-Wright on US stores and Mike Duke on international, and closing guidance from Tom Schoewe. Lee Scott then provided opening remarks about the company's results before handing it off to other executives to discuss specifics.
The transcript summarizes a conference call discussing CIT Group's second quarter 2006 earnings. Key highlights include:
- Diluted EPS increased 14% year-over-year to $1.16. Return on equity was 14.1%.
- New business volume reached a record $10 billion, up 25% from the prior year. Managed asset growth was 17% to $68 billion.
- Other revenue exceeded $300 million, or 41% of total revenue, driven by increased fees from capital markets and advisory businesses.
- Credit performance remained strong with net charge-offs of 35 basis points.
This transcript summarizes a conference call between Centex Corporation executives and financial analysts to discuss the company's financial results for the third quarter of fiscal year 2009. Key points include:
1) Centex reported increased cash flow and cash balances despite weak home sales early in the quarter and significant impairment charges.
2) Home sales and revenue declined significantly year-over-year but showed signs of recovery in December and January with help from incentives.
3) Centex continued reducing costs through layoffs, division consolidation, and overhead cuts while improving construction costs and home quality.
4) While the outlook remains challenging, Centex is focused on restoring profitability through efficient homebuilding and preparing for future land opportunities
wal mart store Quarterly Earnings Releases2008finance1
This transcript summarizes Wal-Mart's Q1 2008 earnings call. Key points include:
- Total sales for Q1 2008 were $85.4 billion, an increase of 8.3% year-over-year. Net income rose 6.2% and EPS was $0.68 per share.
- International sales increased 18.5% led by strong growth in Mexico and the UK. Walmart US experienced challenges with comp sales up just 0.6%.
- Gross margins were down 8 basis points due to pressure in the US. Expenses were up 7 basis points but flat excluding a litigation charge. Inventory growth outpaced sales growth.
- The outlook for the rest of
Reliance Steel & Aluminum Co. reported record financial results for Q3 2008 and the first nine months of the year. Net income for Q3 was $152.5 million, up 63% from Q3 2007. Sales were a record $2.57 billion for the quarter, up 42% from Q3 2007. For the first nine months of 2008, net income was a record $416.5 million, up 27% from the same period in 2007, on record sales of $6.58 billion, up 18% from the first nine months of 2007. The results were driven by acquisitions and higher prices earlier in the year, but volumes declined in Q3 and challenges are expected to continue
This document provides the transcript from Aon Corporation's third quarter 2008 earnings conference call. The call discusses Aon's financial results for Q3 2008, including organic revenue growth of 2% and adjusted EPS growth of 33% year-over-year. Aon executives note continued progress on key commitments of organic growth, margin expansion, and EPS growth despite difficult market conditions. They also highlight ongoing investments across the business and growth in various regions.
wal mart store Quarterly Earnings Releases2009finance1
- Wal-Mart reported second quarter earnings for fiscal year 2009, with net sales of $101.6 billion, an increase of 10.4% from the prior year.
- Diluted earnings per share were $0.86, up 14.7% from $0.75 in the prior year second quarter.
- US comp store sales increased 4.5% excluding fuel, outperforming Wal-Mart's guidance for the quarter. Wal-Mart raised its full-year earnings guidance due to strong underlying operations.
The document is a transcript of a conference call for Reliance Steel & Aluminum Co. discussing their financial results for Q4 2008.
[1] Reliance reported record sales and profits for 2008 but saw a decline in Q4 results compared to Q3 as demand and pricing fell substantially in November and December. [2] The company reduced inventory by $500M and cut approximately 800 jobs, or 7% of its workforce, during Q4 to manage costs in the difficult environment. [3] While the near-term outlook remains uncertain, Reliance believes it is well-positioned for any environment due to its diverse geographic footprint and customer base.
wal mart store Quarterly Earnings Releases2009finance1
This transcript summarizes Wal-Mart's Q1 2009 earnings call. The call began with Carol Schumacher introducing the agenda, which included comments from Lee Scott on the company's performance and economic outlook, details on financial results from Tom Schoewe, business updates from Eduardo Castro-Wright on US stores and Mike Duke on international, and closing guidance from Tom Schoewe. Lee Scott then provided opening remarks about the company's results before handing it off to other executives to discuss specifics.
The transcript summarizes a conference call discussing CIT Group's second quarter 2006 earnings. Key highlights include:
- Diluted EPS increased 14% year-over-year to $1.16. Return on equity was 14.1%.
- New business volume reached a record $10 billion, up 25% from the prior year. Managed asset growth was 17% to $68 billion.
- Other revenue exceeded $300 million, or 41% of total revenue, driven by increased fees from capital markets and advisory businesses.
- Credit performance remained strong with net charge-offs of 35 basis points.
This transcript summarizes a conference call between Centex Corporation executives and financial analysts to discuss the company's financial results for the third quarter of fiscal year 2009. Key points include:
1) Centex reported increased cash flow and cash balances despite weak home sales early in the quarter and significant impairment charges.
2) Home sales and revenue declined significantly year-over-year but showed signs of recovery in December and January with help from incentives.
3) Centex continued reducing costs through layoffs, division consolidation, and overhead cuts while improving construction costs and home quality.
4) While the outlook remains challenging, Centex is focused on restoring profitability through efficient homebuilding and preparing for future land opportunities
First Quarter 2006 Earnings Conference Call Transcriptfinance4
WellPoint reported first quarter 2006 net income of $1.09 per share, which met expectations and extended their streak of meeting or beating guidance to 18 quarters. Total operating revenue reached $13.6 billion, up 26% year-over-year. Medical membership increased by over 300,000 in the quarter to 34.2 million total. The company saw growth across business segments, including a 1.3 million member increase in Medicare Part D enrollment. WellPoint remains focused on reducing costs and improving quality through initiatives like increased price and quality transparency, data analytics, and expanding their specialty pharmacy business.
Second Quarter Earnings Conference Call Transcriptfinance4
WellPoint reported strong financial results for Q2 2005, meeting earnings guidance for the 15th consecutive quarter. Revenue increased 146% year-over-year and 8% on a comparable basis, driven by membership growth and pricing discipline. Membership increased 4% from year-end to over 28.8 million, and grew 6% compared to a year ago on a comparable basis across all regions and customer types. The company resolved two lawsuits with physicians through an agreement that included a one-time $103 million pre-tax charge. WellPoint continues developing new products and expanding into underserved markets to provide affordable healthcare coverage and reduce the number of uninsured Americans.
Third Quarter 2005 Earnings Conference Call Transcriptfinance4
This document contains the transcript from a Q3 2005 earnings conference call held by WellPoint, Inc. It includes:
1) Introductory remarks noting the call contains forward-looking statements about WellPoint and its proposed merger with WellChoice, which are subject to risks and uncertainties.
2) Information that WellPoint and WellChoice will file additional documents with the SEC regarding the proposed merger, and investors should read these documents carefully.
3) A note that WellPoint, WellChoice and their directors/officers may be deemed solicitation participants regarding the proposed merger.
4) The operator then opens the floor for questions from conference call participants.
Second Quarter 2006 Earnings Conference Call Transcriptfinance4
WellPoint held a conference call to discuss its second quarter 2006 earnings. Key points included:
- WellPoint reported record GAAP net income of $1.17 per share, up 30% from the second quarter of 2005.
- Operating revenue was $13.9 billion, up 27% year-over-year and 11% on a comparable basis.
- Membership increased over 600,000 or 2% on a comparable basis from the second quarter of 2005.
- WellPoint saw particularly strong growth of 8% in its National Accounts business.
Reliance Steel reported record first quarter sales of $1.91 billion, up 4% from the prior year. Net income was $107.4 million, equal to earnings per share of $1.46. Volume decreased 1% while average prices increased 5% compared to the prior year. Demand remained healthy during the quarter and the company was able to improve margins through passing on higher metal costs. Looking ahead, the company expects prices to remain up for most metals and for demand to remain comparable to the first quarter, anticipating continued margin improvement.
WIG - June 2014 Annual Financial ReportBrad Sheahon
This document provides a summary of Wilson HTM Investment Group's performance and operations for the 2009 financial year. Some key points:
- NPAT was $2.2 million compared to $12 million in the previous year, impacted by losses on principal investments. Excluding these, established businesses reported NPAT of $7.4 million.
- Funds under management grew 21% to $6.4 billion, driven by net inflows to Pinnacle boutiques and the Next Financial acquisition.
- Capital markets revenue declined 41% to $51.7 million and profit before tax fell 80% to $2.5 million, due to lower transaction volumes in a difficult market.
- Investment management revenue fell 8
This document is a transcript of Merck & Co.'s first quarter 2008 earnings conference call from April 21, 2008. In the call:
- Merck reported revenue growth of 1% for Q1 2008 and reaffirmed full-year guidance despite challenges.
- Sales of key products like Singulair, Cozaar, Hyzaar and Varivax grew, as did newer products like Januvia, Janumet, Gardasil and Isentress.
- However, sales from Merck's joint venture with Schering-Plough grew slower than expected, leading Merck to lower full-year equity income guidance by $700 million. Confusion following a clinical trial was
- Walmart reported record second quarter earnings for fiscal year 2009, with net sales of over $101.6 billion, a 10.4% increase from the previous year, and income from continuing operations of $3.385 billion, a 9.3% increase.
- The company raised its full-year earnings forecast, expecting earnings per share from continuing operations to be between $3.43 to $3.50, up from a previous range.
- For the third quarter of fiscal year 2009, the company estimates comparable store sales in the US to increase between 1-2% and earnings per share to be between $0.73-$0.76.
KappAhl reported its first quarter results from September 1 to November 30, 2008. Net sales increased 1.5% to 1,266 MSEK despite market pressures. Operating profit decreased 15% to 176 MSEK due to higher costs offsetting sales growth. The company maintained a strong gross margin of 64.3% and saw contributions from new store openings, with 53 new contracts signed including 23 in Poland. Looking ahead, KappAhl will focus on maintaining gross profit margins through cost containment and expanding its store network into additional markets.
C.c 2013 1 t siderperu - credicorp capital.val 23 mayo 13.gro77
Siderperu reported lower revenues in Q1 2013, though its margins (EBIT, EBITDA, and net) were better than expected. While sales volume grew 7.4%, falling prices led to a 6.1% decline in revenues. The company's gross margin improved due to lower production costs, but administrative and selling expenses rose, leading to a net loss compared to a profit in the prior year.
Earnings Release Presentation - Third Quarter 2008 (3Q08).MRVRI
The document provides an overview of MRV Engenharia's 3Q08 results, noting strong growth in launches, contracted sales, and net operating revenue compared to previous periods, and discusses the company's liquidity position and outlook for 2008. Key metrics like EBITDA and net income increased substantially in 3Q08 and 9M08 versus the same periods in 2007. MRV also provided an update on its land bank and financing sources to support continued growth.
caterpillar Robert W. Baird & Co Industrial Conferencefinance5
This document provides an update from Caterpillar on their financial outlook. It summarizes Q3 2008 results which showed sales and revenue growth as well as maintained EPS outlook for 2008. It then discusses expectations for a slowing economy in North America and Europe in 2009, but continued growth in emerging markets. Caterpillar expects their 2009 sales and revenues to be about the same as 2008 due to factors like commodity demand and their backlog.
The document is a transcript of a Merck & Co earnings conference call from February 3, 2009. It includes remarks from Merck executives about the company's financial results for Q4 2008 and full year 2008, as well as their outlook for 2009. Key points include:
- Merck reported 1% lower revenue for full year 2008 compared to 2007, but revenue was up 5% excluding the impact of a drug losing exclusivity.
- Performance of drugs like Januvia, Janumet, Isentress and RotaTeq was strong but Singular and Gardasil sales disappointed.
- Merck is continuing restructuring efforts to reduce costs and transform the company for the future operating environment.
This presentation analyzes the capital structure of Tonka Corporation. It provides an overview of the company, analyzes its industry and financial performance. It then evaluates alternatives of maintaining the existing capital structure or taking on 20%, 40%, or 60% debt. Based on the valuation, 40% debt yields the highest share price of $24.95 while meeting the company's conservative goals. Therefore, the presentation recommends Tonka Corporation take on 40% debt to its total capital.
- Tennant Company is a global leader in designing, manufacturing and marketing cleaning solutions.
- In 2017, Tennant Company reported revenues of $1.003 billion, adjusted EBITDA of $101.6 million, and adjusted earnings per share of $1.54.
- Tennant Company's growth strategy focuses on diversifying revenue streams, building technology leadership, optimizing costs, strengthening its financial position, and successfully integrating its acquisition of IPC Group.
- Tennant Company is a global leader in designing, manufacturing and marketing cleaning solutions.
- In 2017, Tennant Company reported revenues of $1.003 billion, adjusted EBITDA of $101.6 million, and adjusted earnings per share of $1.54.
- The company's growth strategy focuses on diversifying revenue streams, maintaining technology leadership, optimizing costs, strengthening its financial position, and successfully integrating recent acquisitions.
This document is the annual report for 2007 of FirstEnergy Corp. and its subsidiaries. It includes management narrative analyses of results of operations for each subsidiary, management reports, independent auditor reports, consolidated financial statements including income statements, balance sheets, statements of capitalization, statements of stockholder equity, and statements of cash flows for each subsidiary. It also includes combined management discussion and analysis of the registrant subsidiaries and combined notes to the consolidated financial statements. The report covers FirstEnergy Solutions Corp., Ohio Edison Company, The Cleveland Electric Illuminating Company, The Toledo Edison Company, Jersey Central Power & Light Company, Metropolitan Edison Company, Pennsylvania Electric Company, and their respective results for the year.
first energy 4Q06 Consolidated Report to the Financial_Communityfinance21
- FirstEnergy reported normalized non-GAAP earnings of $0.84 per share for Q4 2006, up from $0.77 per share in Q4 2005. GAAP earnings were $0.85 per share compared to $0.58 per share in Q4 2005.
- Earnings were positively impacted by Ohio regulatory changes which increased earnings by $0.23 per share. However, lower distribution deliveries and generation revenues reduced earnings. Higher fuel and purchased power costs also decreased earnings.
- For full-year 2006, normalized non-GAAP earnings were $3.88 per share, exceeding guidance of $3.75-$3.85 per share. GAAP earnings were $3.
- Sherwin-Williams reported a 1.5% increase in first quarter sales to a record $1.782 billion and EPS of $0.64, above guidance of $0.56 to $0.61.
- Global Group sales increased 14.8% due to volume gains, price increases, and acquisitions while Paint Stores Group sales declined 1.9% due to soft architectural paint and non-paint sales.
- The company expects Q2 EPS of $1.45 to $1.60 and reaffirms full year 2008 EPS guidance of $4.70 to $4.85, representing a low single digit increase in consolidated sales.
This document provides selected financial data for FirstEnergy Corp for the years 2007-2003. It includes key financial metrics such as revenues, income, earnings per share, dividends per share, total assets and capitalization. It also lists the high and low stock prices for each quarter of 2007 and 2006. Finally, it shows a graph comparing the total cumulative return of FirstEnergy stock to industry and market indexes over the period.
This document is a consolidated report from FirstEnergy Corp for the second quarter of 2008. Some key points:
- Normalized non-GAAP earnings were $0.87 per share for Q2 2008, down from $1.13 per share in Q2 2007, with lower distribution deliveries and higher fuel/purchased power costs reducing earnings.
- GAAP earnings were $0.86 per share for Q2 2008 compared to $1.11 per share in the prior year.
- Earnings guidance for 2008 was revised to $4.25 to $4.35 per share on a non-GAAP basis.
First Quarter 2006 Earnings Conference Call Transcriptfinance4
WellPoint reported first quarter 2006 net income of $1.09 per share, which met expectations and extended their streak of meeting or beating guidance to 18 quarters. Total operating revenue reached $13.6 billion, up 26% year-over-year. Medical membership increased by over 300,000 in the quarter to 34.2 million total. The company saw growth across business segments, including a 1.3 million member increase in Medicare Part D enrollment. WellPoint remains focused on reducing costs and improving quality through initiatives like increased price and quality transparency, data analytics, and expanding their specialty pharmacy business.
Second Quarter Earnings Conference Call Transcriptfinance4
WellPoint reported strong financial results for Q2 2005, meeting earnings guidance for the 15th consecutive quarter. Revenue increased 146% year-over-year and 8% on a comparable basis, driven by membership growth and pricing discipline. Membership increased 4% from year-end to over 28.8 million, and grew 6% compared to a year ago on a comparable basis across all regions and customer types. The company resolved two lawsuits with physicians through an agreement that included a one-time $103 million pre-tax charge. WellPoint continues developing new products and expanding into underserved markets to provide affordable healthcare coverage and reduce the number of uninsured Americans.
Third Quarter 2005 Earnings Conference Call Transcriptfinance4
This document contains the transcript from a Q3 2005 earnings conference call held by WellPoint, Inc. It includes:
1) Introductory remarks noting the call contains forward-looking statements about WellPoint and its proposed merger with WellChoice, which are subject to risks and uncertainties.
2) Information that WellPoint and WellChoice will file additional documents with the SEC regarding the proposed merger, and investors should read these documents carefully.
3) A note that WellPoint, WellChoice and their directors/officers may be deemed solicitation participants regarding the proposed merger.
4) The operator then opens the floor for questions from conference call participants.
Second Quarter 2006 Earnings Conference Call Transcriptfinance4
WellPoint held a conference call to discuss its second quarter 2006 earnings. Key points included:
- WellPoint reported record GAAP net income of $1.17 per share, up 30% from the second quarter of 2005.
- Operating revenue was $13.9 billion, up 27% year-over-year and 11% on a comparable basis.
- Membership increased over 600,000 or 2% on a comparable basis from the second quarter of 2005.
- WellPoint saw particularly strong growth of 8% in its National Accounts business.
Reliance Steel reported record first quarter sales of $1.91 billion, up 4% from the prior year. Net income was $107.4 million, equal to earnings per share of $1.46. Volume decreased 1% while average prices increased 5% compared to the prior year. Demand remained healthy during the quarter and the company was able to improve margins through passing on higher metal costs. Looking ahead, the company expects prices to remain up for most metals and for demand to remain comparable to the first quarter, anticipating continued margin improvement.
WIG - June 2014 Annual Financial ReportBrad Sheahon
This document provides a summary of Wilson HTM Investment Group's performance and operations for the 2009 financial year. Some key points:
- NPAT was $2.2 million compared to $12 million in the previous year, impacted by losses on principal investments. Excluding these, established businesses reported NPAT of $7.4 million.
- Funds under management grew 21% to $6.4 billion, driven by net inflows to Pinnacle boutiques and the Next Financial acquisition.
- Capital markets revenue declined 41% to $51.7 million and profit before tax fell 80% to $2.5 million, due to lower transaction volumes in a difficult market.
- Investment management revenue fell 8
This document is a transcript of Merck & Co.'s first quarter 2008 earnings conference call from April 21, 2008. In the call:
- Merck reported revenue growth of 1% for Q1 2008 and reaffirmed full-year guidance despite challenges.
- Sales of key products like Singulair, Cozaar, Hyzaar and Varivax grew, as did newer products like Januvia, Janumet, Gardasil and Isentress.
- However, sales from Merck's joint venture with Schering-Plough grew slower than expected, leading Merck to lower full-year equity income guidance by $700 million. Confusion following a clinical trial was
- Walmart reported record second quarter earnings for fiscal year 2009, with net sales of over $101.6 billion, a 10.4% increase from the previous year, and income from continuing operations of $3.385 billion, a 9.3% increase.
- The company raised its full-year earnings forecast, expecting earnings per share from continuing operations to be between $3.43 to $3.50, up from a previous range.
- For the third quarter of fiscal year 2009, the company estimates comparable store sales in the US to increase between 1-2% and earnings per share to be between $0.73-$0.76.
KappAhl reported its first quarter results from September 1 to November 30, 2008. Net sales increased 1.5% to 1,266 MSEK despite market pressures. Operating profit decreased 15% to 176 MSEK due to higher costs offsetting sales growth. The company maintained a strong gross margin of 64.3% and saw contributions from new store openings, with 53 new contracts signed including 23 in Poland. Looking ahead, KappAhl will focus on maintaining gross profit margins through cost containment and expanding its store network into additional markets.
C.c 2013 1 t siderperu - credicorp capital.val 23 mayo 13.gro77
Siderperu reported lower revenues in Q1 2013, though its margins (EBIT, EBITDA, and net) were better than expected. While sales volume grew 7.4%, falling prices led to a 6.1% decline in revenues. The company's gross margin improved due to lower production costs, but administrative and selling expenses rose, leading to a net loss compared to a profit in the prior year.
Earnings Release Presentation - Third Quarter 2008 (3Q08).MRVRI
The document provides an overview of MRV Engenharia's 3Q08 results, noting strong growth in launches, contracted sales, and net operating revenue compared to previous periods, and discusses the company's liquidity position and outlook for 2008. Key metrics like EBITDA and net income increased substantially in 3Q08 and 9M08 versus the same periods in 2007. MRV also provided an update on its land bank and financing sources to support continued growth.
caterpillar Robert W. Baird & Co Industrial Conferencefinance5
This document provides an update from Caterpillar on their financial outlook. It summarizes Q3 2008 results which showed sales and revenue growth as well as maintained EPS outlook for 2008. It then discusses expectations for a slowing economy in North America and Europe in 2009, but continued growth in emerging markets. Caterpillar expects their 2009 sales and revenues to be about the same as 2008 due to factors like commodity demand and their backlog.
The document is a transcript of a Merck & Co earnings conference call from February 3, 2009. It includes remarks from Merck executives about the company's financial results for Q4 2008 and full year 2008, as well as their outlook for 2009. Key points include:
- Merck reported 1% lower revenue for full year 2008 compared to 2007, but revenue was up 5% excluding the impact of a drug losing exclusivity.
- Performance of drugs like Januvia, Janumet, Isentress and RotaTeq was strong but Singular and Gardasil sales disappointed.
- Merck is continuing restructuring efforts to reduce costs and transform the company for the future operating environment.
This presentation analyzes the capital structure of Tonka Corporation. It provides an overview of the company, analyzes its industry and financial performance. It then evaluates alternatives of maintaining the existing capital structure or taking on 20%, 40%, or 60% debt. Based on the valuation, 40% debt yields the highest share price of $24.95 while meeting the company's conservative goals. Therefore, the presentation recommends Tonka Corporation take on 40% debt to its total capital.
- Tennant Company is a global leader in designing, manufacturing and marketing cleaning solutions.
- In 2017, Tennant Company reported revenues of $1.003 billion, adjusted EBITDA of $101.6 million, and adjusted earnings per share of $1.54.
- Tennant Company's growth strategy focuses on diversifying revenue streams, building technology leadership, optimizing costs, strengthening its financial position, and successfully integrating its acquisition of IPC Group.
- Tennant Company is a global leader in designing, manufacturing and marketing cleaning solutions.
- In 2017, Tennant Company reported revenues of $1.003 billion, adjusted EBITDA of $101.6 million, and adjusted earnings per share of $1.54.
- The company's growth strategy focuses on diversifying revenue streams, maintaining technology leadership, optimizing costs, strengthening its financial position, and successfully integrating recent acquisitions.
This document is the annual report for 2007 of FirstEnergy Corp. and its subsidiaries. It includes management narrative analyses of results of operations for each subsidiary, management reports, independent auditor reports, consolidated financial statements including income statements, balance sheets, statements of capitalization, statements of stockholder equity, and statements of cash flows for each subsidiary. It also includes combined management discussion and analysis of the registrant subsidiaries and combined notes to the consolidated financial statements. The report covers FirstEnergy Solutions Corp., Ohio Edison Company, The Cleveland Electric Illuminating Company, The Toledo Edison Company, Jersey Central Power & Light Company, Metropolitan Edison Company, Pennsylvania Electric Company, and their respective results for the year.
first energy 4Q06 Consolidated Report to the Financial_Communityfinance21
- FirstEnergy reported normalized non-GAAP earnings of $0.84 per share for Q4 2006, up from $0.77 per share in Q4 2005. GAAP earnings were $0.85 per share compared to $0.58 per share in Q4 2005.
- Earnings were positively impacted by Ohio regulatory changes which increased earnings by $0.23 per share. However, lower distribution deliveries and generation revenues reduced earnings. Higher fuel and purchased power costs also decreased earnings.
- For full-year 2006, normalized non-GAAP earnings were $3.88 per share, exceeding guidance of $3.75-$3.85 per share. GAAP earnings were $3.
- Sherwin-Williams reported a 1.5% increase in first quarter sales to a record $1.782 billion and EPS of $0.64, above guidance of $0.56 to $0.61.
- Global Group sales increased 14.8% due to volume gains, price increases, and acquisitions while Paint Stores Group sales declined 1.9% due to soft architectural paint and non-paint sales.
- The company expects Q2 EPS of $1.45 to $1.60 and reaffirms full year 2008 EPS guidance of $4.70 to $4.85, representing a low single digit increase in consolidated sales.
This document provides selected financial data for FirstEnergy Corp for the years 2007-2003. It includes key financial metrics such as revenues, income, earnings per share, dividends per share, total assets and capitalization. It also lists the high and low stock prices for each quarter of 2007 and 2006. Finally, it shows a graph comparing the total cumulative return of FirstEnergy stock to industry and market indexes over the period.
This document is a consolidated report from FirstEnergy Corp for the second quarter of 2008. Some key points:
- Normalized non-GAAP earnings were $0.87 per share for Q2 2008, down from $1.13 per share in Q2 2007, with lower distribution deliveries and higher fuel/purchased power costs reducing earnings.
- GAAP earnings were $0.86 per share for Q2 2008 compared to $1.11 per share in the prior year.
- Earnings guidance for 2008 was revised to $4.25 to $4.35 per share on a non-GAAP basis.
Christopher M. Connor, Chairman and CEO of The Sherwin-Williams Company, presented forward-looking statements about sales, earnings, and other matters. The presentation discussed Sherwin-Williams' financial highlights in 2007 including $8.01 billion in net sales and $616 million in income. It also reviewed the company's diversified customer base, global market share as one of the top coatings manufacturers worldwide, and competitive strengths including controlled distribution, leading technology, and growth from acquisitions.
The document is a letter from the Chairman of the Board of Directors of FirstEnergy to shareholders. It summarizes that in 2007, FirstEnergy had strong financial performance resulting in a nearly $3 billion increase in market value. The company's total shareholder return was among the best in the industry. The Board increased the dividend by 10% based on confidence in the company's future. It also discusses FirstEnergy's commitment to strong corporate governance and ethics.
CIT Group reported earnings for Q3 2008. Key points:
- Revenues were down from non-spread income like loan sales and syndications due to challenging market conditions.
- Credit costs increased as the economic outlook darkened, with charge-offs expected to be higher in 2009 than 2008.
- Liquidity was strengthened through over $11 billion in new financing, including prepaid bank borrowings and debt buybacks.
- Vendor Finance underperformed and a restructuring is underway to improve profitability, while Trade and Transportation Finance continued strong performance.
CIT Group reported their third quarter 2008 earnings. Key points included that CIT remains very liquid with plans to meet obligations for at least 12 months without unsecured bond markets. Their balance sheet is strong with improved tangible capital ratios. During the quarter, CIT increased reserves for credit losses as the economy has deteriorated. Going forward, CIT will focus on liquidity, balance sheet management, and tightened credit underwriting as they actively manage new business originations and anticipate declining volumes.
CIT Group reported earnings for Q3 2008. Key points:
- Revenues were down from non-spread income like loan sales and syndications due to challenging market conditions.
- Credit costs increased as the economic outlook darkened, with charge-offs expected to be higher in 2009 than 2008.
- Actions were taken to improve liquidity, including debt repayments and new funding facilities. However, new business originations were down due to tighter underwriting.
- Vendor Finance underperformed and a restructuring is underway to improve profitability, while Trade and Transportation Finance continued strong performance.
Second Quarter 2008 Earnings Conference Call Transcript finance4
WellPoint reported its second quarter 2008 earnings. Some key points:
- Net income was $1.44 per share, including realized losses of $0.03 per share.
- Premiums and revenues reached record levels again. Expense ratios declined sequentially.
- Membership increased 1.5% year-over-year to 35.3 million members. Self-funded membership now comprises 52% of the total.
- The company expects full-year 2008 EPS between $5.42-$5.57, including realized losses of $0.06 per share.
The document is the transcript of Centex Corporation's Q1 2009 earnings conference call from July 30, 2008. In the call, Tim Eller, Chairman and CEO of Centex, notes that housing market conditions worsened in the quarter with falling sales and closings. However, Centex built a strong cash position of $1.24 billion. Cathy Smith, CFO, states that Centex's homebuilding operations were cash flow positive for the first time in Q1 before receiving a $600 million tax refund. Centex remains focused on improving profitability and transitioning to a more efficient build-to-order model.
This document provides a transcript of a conference call by ArvinMeritor updating investors on the planned spin-off of its Light Vehicle Systems business into a new company called Arvin Innovation. Key points:
- Arvin Innovation will launch with $100 million in cash and $125 million in debt for $25 million of net debt. It will assume $209 million in unfunded pension liabilities and $32 million in other net liabilities from ArvinMeritor.
- Arvin Innovation's revenue is forecast to grow 7-10% annually over the next two years from new program launches already awarded. Most of its business and growth is outside of North America.
- The spin-off is expected
This document provides a transcript of a conference call by ArvinMeritor updating investors on the planned spin-off of its Light Vehicle Systems business into a new company called Arvin Innovation. Key points include:
1) Arvin Innovation will launch with $100 million in cash, $125 million in debt, and will assume $209 million in unfunded pension liabilities and $32 million in other net liabilities from ArvinMeritor.
2) Arvin Innovation's business is expected to grow revenues 7-10% annually over the next two years, driven by new program launches that are already secured.
3) The spin-off is expected to create two companies with a stronger focus, with
cardinal health Q1 2009 Earnings Transcriptfinance2
- Cardinal Health reported financial results for Q1 2009 with overall double-digit revenue and profit growth. Revenue increased 11% to $24.3 billion while operating earnings decreased 6% to $482 million.
- Earnings from continuing operations decreased 16% to $268 million due to weaker performance from HSCS, increased interest and other expenses, and a higher tax rate.
- HSCS revenue increased 11% to $23.4 billion due to strong growth across medical and pharmaceutical businesses. However, segment profit decreased 16% due to previously announced customer repricing.
- CMP revenue increased 12% to due to product installations, international growth, and acquisitions. Segment profit increased 15% due to
The document is the transcript of a Q4 2008 earnings call by WellPoint, Inc. It includes:
1) WellPoint reported Q4 net income of $331 million, down from $859 million in Q4 2007, due to realized investment losses. Full year 2008 net income was $2.5 billion.
2) Membership increased 1% year-over-year to 35 million due to growth in national accounts and seniors, partially offset by losses in state-sponsored programs and individual/local groups.
3) Challenging economic conditions are expected to negatively impact commercial membership in 2009, though national enrollment exceeded expectations for January 1, 2009.
Third Quarter 2008 Earnings Conference Call Transcript finance4
WellPoint hosted a quarterly earnings call to discuss its Q3 2008 results. Key highlights include:
- Net income for Q3 2008 was $821 million, or $1.60 per share, up 10% and 11% year-over-year and quarter-over-quarter respectively.
- Membership increased 2% year-over-year to 35.3 million members as of September 30, 2008.
- Full-year 2008 EPS guidance was revised to a range of $5.43 to $5.49 per share.
- Challenging economic conditions and state budget issues impacted some business lines, but overall results were solid and performance improvement plans are having a positive effect
WellPoint reported strong financial results for Q4 2005 and full year 2005. Earnings per share were $1.04 for the quarter and $3.94 for the full year, representing growth over the prior year periods. In Q4, revenue increased 68% year-over-year and 6% on a comparable basis. Membership increased to 33.9 million with the addition of WellChoice. The WellChoice acquisition closed on December 28, 2005 and integration activities are underway. WellPoint achieved several strategic milestones in 2005 including acquisitions and resolving litigation with physicians.
CIT Group reported earnings for the first quarter of 2008. The commercial finance divisions performed well with a combined return on equity of 12%, however losses from the home lending and student loan portfolios contributed to an overall loss for the company. CIT outlined plans to reduce assets by $5-7 billion through sales, cut the dividend, explore strategic options for the rail division, and pursue additional liquidity and capital. Management remains focused on the core commercial finance businesses and serving customers during this challenging time.
CIT Group reported their first quarter 2008 earnings. The CEO discussed strategic actions taken to improve liquidity including reducing staff by over 500 employees, selling over $5.5 billion in assets, cutting the dividend by 60%, exploring strategic alternatives for the rail business, and continuing discussions to secure additional liquidity and capital. While the commercial finance franchises performed respectably, provisions were taken for the home lending and student lending portfolios due to housing market declines. The CEO believes strategic actions taken will enhance shareholder value and position the company for the future.
CIT Group reported earnings for the first quarter of 2008. The commercial finance divisions performed well with a combined return on equity of 12%, however losses from the home lending and student loan portfolios contributed to an overall loss for the company. CIT outlined plans to reduce assets by $5-7 billion through sales, cut the dividend, explore strategic options for the rail division, and pursue additional liquidity and capital. Management remains focused on the core commercial finance businesses and serving customers during this challenging time.
First Quarter Earnings Conference Call Transcriptfinance4
The conference call transcript summarizes WellPoint's Q1 2005 earnings call. The call discussed WellPoint exceeding earnings guidance for the quarter and highlighted several areas of growth. Membership increased by 800,000 in Q1 to over 28.5 million total members. Revenue reached a record high of almost $11 billion, up 9% compared to the prior year on a comparable basis. The call also provided updates on Medicare growth opportunities and new products being offered in key markets.
CIT Group drew $7 billion from its bank credit facilities to bolster its liquidity position. CIT Chairman and CEO Jeff Peek and Vice Chairman and CFO Joe Leone discussed the decision to tap these facilities despite it not being their preferred path. They explained that recent market events made executing CIT's original funding plan less certain, so drawing on the bank lines provided operating flexibility and ensured CIT could meet near-term obligations while continuing to support customer relationships. Leone also outlined details of the bank facilities such as maturity dates and pricing. Peek and Leone indicated CIT will evaluate asset sales and business line sales to optimize its portfolio as it runs a smaller company going forward.
This document is the transcript of Aon Corporation's second-quarter 2008 earnings conference call. The call discusses Aon's financial performance in the second quarter of 2008, with an emphasis on organic revenue growth, adjusted pretax margin, and adjusted earnings per share. Aon's CEO notes that the company achieved progress on all three metrics despite soft market conditions. The transcript also covers Aon's continued investments in areas like retail brokerage, reinsurance, and consulting to strengthen its client capabilities globally.
This document is a transcript of Aon Corporation's first quarter 2008 earnings conference call. The call discusses Aon's financial results for Q1 2008, including organic revenue growth, margin expansion, and increased earnings per share. Aon's CEO highlights continued progress on key commitments and investments across the business. The CFO then reviews the financial results in more detail and discusses restructuring efforts and their impact on expenses and margins.
The transcript summarizes CIT Group's first quarter 2006 earnings conference call. CIT reported solid quarterly results, with diluted EPS increasing 14% and ROE of 14.1%. Origination volume was strong at $8.7 billion, up 53% from the prior year, driven by a 22% increase in sales force size and 23% higher sales rep productivity. Credit performance was exceptional with low net charge-offs. The company remains focused on execution and growing assets and returns through 2006.
The transcript summarizes CIT Group's first quarter 2006 earnings conference call. CIT reported solid quarterly results, with diluted EPS increasing 14% and ROE of 14.1%. Origination volume was strong at $8.7 billion, up 53% from the prior year, driven by a 22% increase in the sales force and 23% increase in sales rep productivity. Credit performance was exceptional with low net charge-offs. The company's five operating groups all showed proof of the strategy gaining traction, with various business lines reporting record originations, asset growth, and returns above targets.
ConAgra Foods is selling its chicken business to focus on branded and value-added food items. The sale includes chicken processing operations and will generate cash for ConAgra to reinvest. ConAgra will receive Class A shares in Pilgrim's Pride, the chicken company acquiring its business, representing 7% of voting shares and 49% of equity. It can sell up to 1/3 of these shares annually but expects to reduce ownership over time based on market conditions. ConAgra will also receive notes from Pilgrim's Pride due in 2011 with a 10.5% interest rate to be paid semi-annually.
This document summarizes the Q1 FY2004 earnings results of a large packaged foods company. Key points include:
- Q1 EPS was $0.37 compared to $0.43 in Q1 FY2003, impacted by various one-time gains and losses.
- Packaged foods sales were down $168M excluding divested businesses, with a 5% volume decline.
- Several major brands saw growth, while others like Butterball declined.
- Corporate expenses increased due to litigation expenses from a past joint venture.
- The effective tax rate for FY2004 is estimated at 38%.
ConAgra Foods is selling its United Agri Products business to focus on branded and value-added products, as part of a broader strategy of divesting non-core businesses over the past year including fresh beef/pork, canned seafood, and cheese operations. The sale is expected to close by December 31, 2003 for cash and $60-75 million in preferred stock. ConAgra will retain some international UAP operations generating $250 million in annual sales, concentrated in several countries. Proceeds will be used for debt paydown and general corporate purposes including acquisitions and stock buybacks.
ConAgra Foods divested its poultry business to focus on branded, value-added foods with strong margins and growth. The $300 million cash and 25 million Pilgrim's Pride shares valued at $245 million totaled less than the poultry business' estimated $545 million book value due to the shares being valued based on past prices, not current prices. ConAgra Foods can sell up to 1/3 of the shares each year and account for shares eligible for resale within a year as securities, and other shares using cost accounting. The poultry business was previously reported in Meat Processing but is now in Discontinued Operations.
ConAgra Foods completed the divestiture of its chicken processing and crop inputs businesses, finalizing its strategy to focus on branded, value-added food opportunities. The company received $300 million in cash and 25 million shares of Pilgrim's Pride stock worth $245 million for the chicken business. ConAgra can sell up to 1/3 of the Pilgrim's Pride shares per year and will account for the shares as securities held for resale within one year or using the cost method if the eligibility for resale is over one year away. The chicken business was previously reported as part of ConAgra's Meat Processing segment but is now in Discontinued Operations.
ConAgra Foods has divested several commodity businesses and acquired branded and value-added food products to focus on higher margin businesses. The company is planning a share repurchase program using cash from strong operating cash flows and recent divestitures. ConAgra expects to continue investing in growth through acquisitions and paying down debt while deploying cash to dividends, debt repayment, and share repurchases as appropriate.
The document provides a Q&A summary of ConAgra Foods' financial results for Q2 FY04 compared to Q2 FY03. Key points include:
- Q2 FY04 diluted EPS was $0.51 compared to $0.44 in Q2 FY03, impacted by $0.04 in discontinued operations in FY04 and $0.03 in divestiture expenses in FY03.
- Sales comparability was impacted by $506M in divested fresh meat businesses in FY03 and $154M in divested canned food businesses in FY03.
- Examples of brand sales growth included Banquet, Chef Boyardee, Egg Beaters
Packaged Foods sales increased 4% excluding divestitures, with 2% volume growth. Several brands posted sales growth including Armour, Banquet, and Blue Bonnet, while others like ACT II and Butterball declined. Sales comparability was affected by $155 million in divested businesses last year. Operating profit grew 5% in Packaged Foods and 10% overall when adjusting for divested businesses and cost savings initiatives. The company is implementing cost cutting measures expected to save more than implementation costs in the future.
The document provides the quarterly and annual financial results for a company. Some key highlights include:
- Several consumer brands posted sales growth for the quarter including Banquet, Blue Bonnet, and Chef Boyardee, while others like ACT II and Eckrich saw declines.
- Total depreciation and amortization was around $93 million for the quarter and $352 million for the fiscal year.
- Capital expenditures were around $106 million for the quarter and $352 million for the fiscal year.
- Net interest expense was $80 million for the quarter and $275 million for the fiscal year.
- Corporate expenses were around $95 million for the quarter and $342 million
- Major brands in the Retail Products segment that posted sales growth included ACT II, Armour, Banquet, and Blue Bonnet. Brands that posted sales declines included Healthy Choice, Slim Jim, and Snack Pack.
- Retail volume increased 8% while foodservice volume was flat excluding divested businesses.
- Increased input costs negatively impacted operating profits in the Retail Products segment by approximately $45 million.
- Capital expenditures were approximately $105 million, reflecting increased investment in information systems.
This document contains the questions and answers from ConAgra Foods' Q2 FY2005 earnings call. Some key details include:
- Several major brands in the Retail Products segment posted sales growth, while others saw declines.
- Retail volume increased 7% and Foodservice volume decreased 1% excluding divested businesses.
- Capital expenditures increased significantly year-over-year due to investments in information systems.
- The company received proceeds from the sale of its minority interest in Swift Foods and shares of Pilgrim's Pride stock.
This document summarizes the Q3 2005 earnings results of a major food company. Some key highlights include: 1) Major brands in the Retail Products segment saw mixed sales results, with growth for brands like Chef Boyardee but declines for brands like Butterball. 2) Unit volumes declined 3% for Retail Products but increased 4% for Foodservice Products. 3) The packaged meats operations were slightly profitable but profits were over $45 million lower than the previous year. The company expects some improvement but not year-over-year profit gains for packaged meats in Q4.
This document summarizes ConAgra Foods' earnings results for fiscal year 2005 (FY05) in a question and answer format. Some key details include:
- FY05 diluted EPS was $1.23, including $0.12 in expenses that impacted comparability.
- Major brands in the Retail Products segment that saw sales growth included ACT II, Banquet, and Blue Bonnet. Brands that saw declines included Armour and Butterball.
- Retail Products volume increased 2% while Foodservice Products volume decreased 2% in Q4.
- Total depreciation and amortization was approximately $351 million for FY05 and $90 million for Q4. Capital expenditures
The document provides the questions and answers from the Q1 FY06 earnings call for ConAgra Foods. Some key details from the summary include:
- Sales grew for major brands like Butterball but declined for brands like ACT II. Retail Products volume declined 3% while Foodservice increased 4%.
- Depreciation and amortization was $89 million. Capital expenditures were $71 million and net interest expense was $68 million. Corporate expense was $73 million.
- Gross margin was 21.6% and operating margin was 10.9%. The effective tax rate for FY06 is estimated to be 36%.
Major brands in the Retail Products segment that posted sales growth included ACT II, Blue Bonnet, Butterball, Kid Cuisine, Marie Callender's, Reddi-wip and Ro*Tel. Brands that posted sales declines included Armour, Banquet, Cook's, DAVID, Eckrich, Egg Beaters, Healthy Choice, Hebrew National, Hunt's, LaChoy, Orville Redenbacher, PAM, Parkay, Peter Pan, Slim Jim, Snack Pack, Swiss Miss, Van Camp's and Wesson. Retail Products volume declined 5% for the quarter while Foodservice Products volume increased 2%. Corporate expense for the quarter was approximately $103 million
The document provides financial information from ConAgra Foods' Q3 FY06 quarterly earnings call. Some key details include:
- Retail segment sales grew 4% and Foodservice grew 1% over the prior year. Several major brands posted sales growth while others declined.
- Gross margin was 24.8% and operating margin was 12.5% for the quarter.
- Net debt was $3.6 billion, down from $4.5 billion a year prior due to debt repayment of $500 million during the quarter.
- Capital expenditures for the quarter and fiscal year-to-date were below prior year levels. Projected fiscal year expenditures are up to $400
- Major brands in the Consumer Foods segment that posted sales growth in Q4 FY06 included Blue Bonnet, Chef Boyardee, DAVID, Egg Beaters, Hebrew National, and Hunt's. Brands that posted sales declines included ACT II, Banquet, Healthy Choice, Peter Pan, Slim Jim, Snack Pack, and Van Camp's.
- Consumer Foods volume declined 2% in Q4 while Food and Ingredients volume increased 1%.
- Total depreciation and amortization for Q4 was approximately $85 million and approximately $353 million for all of FY06. Capital expenditures were approximately $92 million for Q4 and $288 million for FY
This document summarizes the Q1 FY07 financial results of ConAgra Foods. Some key highlights include:
- Consumer Foods volume increased 1% and Food and Ingredients volume increased 2% in Q1.
- Gross margin was 24.7% and operating margin was 11.7% for the quarter.
- Net debt decreased to $2.88 billion from $3.97 billion in Q1 FY06.
- Restructuring charges totaled $39 million pre-tax, impacting costs in Consumer Foods and corporate expenses.
Major brands in the Consumer Foods segment that posted sales growth included Egg Beaters, Healthy Choice, and Slim Jim. Brands that posted sales declines included ACT II and Blue Bonnet. Total depreciation and amortization from continuing operations was $88 million for the quarter and $177 million year-to-date. Capital expenditures were $66 million for the quarter and $111 million year-to-date. Net interest expense was $52 million for the quarter and $110 million year-to-date.
1) Several major brands in the Consumer Foods segment posted sales growth for the quarter, while others like ACT II and Banquet saw declines. Overall, Consumer Foods volume declined 1% excluding divested businesses.
2) Total depreciation and amortization from continuing operations was around $91 million for the quarter and $268 million year-to-date. Capital expenditures were around $147 million for the quarter and $258 million year-to-date.
3) The company's net debt at the end of the quarter was around $3 billion, with a net debt to total capital ratio of 39%.
South Dakota State University degree offer diploma Transcriptynfqplhm
办理美国SDSU毕业证书制作南达科他州立大学假文凭定制Q微168899991做SDSU留信网教留服认证海牙认证改SDSU成绩单GPA做SDSU假学位证假文凭高仿毕业证GRE代考如何申请南达科他州立大学South Dakota State University degree offer diploma Transcript
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Every business, big or small, deals with outgoing payments. Whether it’s to suppliers for inventory, to employees for salaries, or to vendors for services rendered, keeping track of these expenses is crucial. This is where payment vouchers come in – the unsung heroes of the accounting world.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Budgeting as a Control Tool in Government Accounting in Nigeria
Being a Paper Presented at the Nigerian Maritime Administration and Safety Agency (NIMASA) Budget Office Staff at Sojourner Hotel, GRA, Ikeja Lagos on Saturday 8th June, 2024.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
Monthly Market Risk Update: June 2024 [SlideShare]Commonwealth
Markets rallied in May, with all three major U.S. equity indices up for the month, said Sam Millette, director of fixed income, in his latest Market Risk Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
How to Identify the Best Crypto to Buy Now in 2024.pdfKezex (KZX)
To identify the best crypto to buy in 2024, analyze market trends, assess the project's fundamentals, review the development team and community, monitor adoption rates, and evaluate risk tolerance. Stay updated with news, regulatory changes, and expert opinions to make informed decisions.