PPG Industries reported financial results for the second quarter and first half of 2008. Net sales increased 42% to $4.5 billion for the quarter due to acquisitions. Income from continuing operations was $250 million for the quarter and $350 million for the first half. Total debt increased to fund the acquisition of SigmaKalon, which contributed to higher interest expense. Segment income increased due to acquisitions, but was reduced by one-time acquisition related costs including inventory step-up costs and in-process R&D write-offs associated with SigmaKalon.
Finally a fun and informal way to keep a close eye on your culture and workplace effectiveness. Perfect for startups, tech firms, and generally cool companies of all sizes.
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Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
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The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
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#pinetwork
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
1. PPG INDUSTRIES AND CONSOLIDATED SUBSIDIARIES
CONDENSED STATEMENT OF OPERATIONS (unaudited)
(All amounts in millions except per-share data)
3 Months Ended 6 Months Ended
June 30 June 30
2008 2007 2008 2007
Net sales $ 4,474 $ 3,155 $ 8,436 $ 6,043
Cost of sales, exclusive of depreciation and amortization (Note A) 2,829 2,001 5,425 3,864
Selling and other (Note B) 1,054 651 2,035 1,271
Depreciation (Note C) 128 88 235 174
Interest expense 65 23 131 45
Amortization 37 15 71 29
Asbestos settlement - net 4 8 4 17
Other - net (Note D) (37) (29) (42) (31)
INCOME BEFORE INCOME TAXES AND MINORITY
INTEREST 394 398 577 674
Income tax expense 116 125 173 191
Minority interest 28 23 54 41
INCOME FROM CONTINUING OPERATIONS (Notes A, B, C & D) 250 250 350 442
Income from discontinued operations, net of tax (Note E) - (1) - 1
NET INCOME $ 250 $ 249 $ 350 $ 443
Earnings per common share
Income from continuing operations (Notes A, B, C & D) $ 1.52 $ 1.51 $ 2.13 $ 2.68
Income from discontinued operations (Note E) $ - $ - $ - $ 0.01
NET INCOME $ 1.52 $ 1.51 $ 2.13 $ 2.69
Earnings per common share - assuming dilution
Income from continuing operations (Notes A, B, C & D) $ 1.51 $ 1.50 $ 2.12 $ 2.66
Income from discontinued operations (Note E) $ - $ - $ - $ 0.01
NET INCOME $ 1.51 $ 1.50 $ 2.12 $ 2.67
Average shares outstanding 164.6 164.8 164.5 164.7
Average shares outstanding - assuming dilution 165.6 166.4 165.7 166.1
Note A:
The six months ended June 30, 2008, include a pretax expense of $94 million ($66 million aftertax or 40 cents per share) for the flow-through cost of
sales of the step up to fair value of inventory related to the SigmaKalon acquisition.
Note B:
The three and six months ended June 30, 2008, include a pretax expense of $19 million ($12 million aftertax or 7 cents per share) for the impact of
benefit changes including accelerated vesting negotiated as part of the pending sale of the automotive glass and services business.
Note C:
The three and six months ended June 30, 2008, include a pretax expense of $17 million ($11 million aftertax or 7 cents per share) for the catch-up of
depreciation expense, which was suspended when the automotive glass and services business was classified as a discontinued operation in September
2007.
Note D:
The six months ended June 30, 2008, include a pretax expense of $23 million ($23 million aftertax or 14 cents per share) for the write-off of in-
process research and development related to the SigmaKalon acquisition.
Note E:
Discontinued operations includes the results of operations of the fine chemicals business that was sold in the third quarter 2007.
2. BALANCE SHEET HIGHLIGHTS (unaudited)
June 30 June 30 December 31
2008 2007 2007
(millions)
Current assets:
Cash and cash equivalents $ 266 $ 181 $ 526
Cash held in escrow (Note A) 12 41 1,706
Receivables - net (Note B) 3,907 2,566 2,522
Inventories (Note B) 2,124 1,458 1,532
Other (Note B) 782 648 655
Assets held for sale (Note C) - 120 -
Total current assets $ 7,091 $ 5,014 $ 6,941
Current liabilities:
Short-term debt and current portion of long-term debt $ 816 $ 216 $ 1,819
Asbestos settlement 613 601 593
Accounts payable and accrued liabilities (Note B) 3,316 2,119 2,220
Liabilities of business held for sale (Note C) - 27 -
Total current liabilities $ 4,745 $ 2,963 $ 4,632
Long-term debt (Note D) $ 3,440 $ 1,151 $ 1,201
Note A:
Includes $1,673 million that was borrowed late in the fourth quarter 2007 to finance the SigmaKalon acquisition and was held in escrow at December
31, 2007, and released from escrow when the transaction closed January 2, 2008.
Note B:
Receivables - net, inventories and other current assets less accounts payable and accrued liabilities acquired as part of SigmaKalon on January 2,
2008, totaled $539 million.
Note C:
Assets held for sale and liabilities of business held for sale represent assets and liabilities of the fine chemicals business, which was sold in the third
quarter 2007.
Note D:
Long-term debt at June 30, 2008 has increased due to the SigmaKalon acquisition. PPG assumed debt of $1,517 million related to the acquisition.
3. BUSINESS SEGMENT INFORMATION (unaudited)
3 Months Ended 6 Months Ended
June 30 June 30
2008 2007 2008 2007
(millions)
Net sales
Performance Coatings $ 1,269 $ 974 $ 2,383 $ 1,829
Industrial Coatings 1,152 943 2,210 1,812
Architectural Coatings EMEA 667 - 1,203 -
Optical and Specialty Materials 310 278 605 529
Commodity Chemicals 495 380 918 751
Glass (Note A) 581 580 1,117 1,122
TOTAL $ 4,474 $ 3,155 $ 8,436 $ 6,043
Segment income
Performance Coatings $ 171 $ 159 $ 291 $ 280
Industrial Coatings 109 109 204 204
Architectural Coatings EMEA 71 - 80 -
Optical and Specialty Materials 76 71 150 134
Commodity Chemicals 68 57 136 101
Glass (Note A) 30 50 60 70
TOTAL 525 446 921 789
Legacy costs (Note B) (3) (6) (7) (10)
Acquisition-related costs (Note C) - - (117) -
Depreciation catch-up charge (Note D) (17) - (17) -
Divestiture-related benefit costs (Note E) (19) - (19) -
Asbestos settlement - net (4) (8) (4) (17)
Interest expense, net of interest income (Note F) (60) (20) (119) (39)
Unallocated stock-based compensation (Note G) (6) (9) (15) (18)
Other unallocated corporate expense (22) (5) (46) (31)
INCOME BEFORE INCOME TAXES AND MINORITY INTEREST $ 394 $ 398 $ 577 $ 674
Note A:
Glass net sales and segment income include the results of the automotive glass and services business for the three and six months ended June 30, 2008
and 2007, respectively.
Note B:
Legacy costs include current costs related to former operations of the Company, including certain environmental remediation, pension and other
postretirement benefit costs and certain charges that are considered to be unusual or non-recurring.
Note C:
Represents costs related to the SigmaKalon acquisition. In the first quarter 2008, these costs included $94 million of the flow-through cost of sales of
the step up to fair value of acquired inventory and $23 million for the write-off of in-process research and development. These costs are considered
to be unusual and non-recurring and will not reduce the segment earnings used to evaluate the performance of the operating segments.
Note D:
Represents the catch-up of depreciation expense, which was suspended when the automotive glass and services business was classified as a discontinued
operation in September 2007.
Note E:
Represents the impact of benefit changes including accelerated vesting negotiated as part of the pending sale of the automotive glass and services
business.
Note F:
The increase in Interest expense, net of income, for the three and six months ended June 30, 2008, as compared to June 30, 2007, is primarily due to
increased interest costs related to the financing of the SigmaKalon acquisition.
Note G:
Unallocated stock-based compensation includes the cost of stock options, restricted stock units and contingent share grants that are not allocated to
the operating segments.