Advance Managerial Finance - Paper - 1555 Words

Advance Managerial Finance Case 6: Deluxe Corporation 1. What are the risks associated with Deluxe’s business and strategy? Is Deluxe’s current debt level appropriate? Deluxe Corporation was once the largest printer of paper checks in the United States. However, around the past years it started to face difficulties primarily on its sale and earnings growth primarily because of alternative payments systems as online payments, credit and debit cards, etc. Some of the risk Deluxe Corporation is facing are: * Online payment methods that improve along with the Internet, which is almost accessible to everyone, everywhere. The popularity of paper check payments has decline versus this online services. To add to this, the increase†¦show more content†¦Shareholder wealth will be maximized by repurchasing shares from cash and issuances of commercial paper, and debt will be refinanced with similar debt (p.493.) 3. Using the financial ratios in Exhibit 6, how much debt could Deluxe borrow at each †¨rating level? According to this case, Singh wants to preserve an investment-grade on Deluxe’s rating. On Exhibit 6 we were provided with financial ratios and their association with the different investment-grade rating categories. These financial ratios can be used to compare the company debt flexibility. In the case it is specified that the manager in Deluxe pays close attention to the earnings before interest and taxes (EBIT) ratio to interest expenses, which is considered the EBIT-coverage ratio. From exhibit 6, we obtain the EBIT-coverage ratio for each rating categories, EBIT divided by the rating ratios will give us the individual interest expenses. We are going to assume that our EBIT is $359.42 million dollars (average.) We were not provided with an EBIT for the 2001-year but we have the forecasted EBIT for the next five years. With this information we get the interest expenses for all the rating categories: AAA AA A BBB BB B $15.36 $27.02 $57.05 $92.16 $163.37 $359.42 Now, Deluxe Corporation can have an estimate on the maximum debt by dividing the interest expenses by the cost of debt for eachShow MoreRelatedTypes Of Sources Of Finance1393 Words   |  6 PagesIt is noted that finance is one of the most important part of the business that play a vital role to run the key activities of a business viably either it is a manufacturing business or a service it required adequate amount of resources to attain their set goals. Moreover, it is important from the prospect of CCA firm to consider different types of sources of finance in order to fulfil their requirement and start HEC (Higher Education College). There are different sources of finance that must be consideredRead MoreManagement Failure Leads For Business Failure826 Words   |  4 Pagesdecline on sales If management is inadequate to handle the business and gain competitive advantage, the catastrophe of losing investment, time and customer will not be far ahead. This paper discusses two businesses (Gurkha Development Bank (Nepal) Limited and BlackBerry) which failed due to lack of management. This paper also includes viable recommendation for overcoming the situation. The first company which was to manage their internal affairs and faced bankruptcy is Gurkha Development Bank (Nepal)Read MoreSupply Chain Risk Management Plan1299 Words   |  6 Pageschain.† This research paper is based on the supply chain risk management(SCRM) in a business and the challenges it faces with risk involved at every step of the process. Uta Juttner has written a rather confusing and self explanatory piece of paper. A system of methods used in a particular area of study or activity: a methodology for investigating the concept of focal points and focal points being supply chain management and risk management. The methodology used in this paper by the author is throughRead MoreSupply Chain Risk Management Analysis1521 Words   |  7 Pagesphilosophy. This research paper is based on the supply chain risk management(SCRM) in a business and the challenges it faces with risk involved at every step of the process. Uta Juttner has written a rather confusing and self explanatory piece of paper. A system of methods used in a particular area of study or activity: a methodology for investigating the concept of focal points and focal points being supply chain management and risk management. The methodology used in this paper by the author is throughRead MoreRisks And Risks Of Strategic Risk Essay1572 Words   |  7 Pagesrisk-seeking or risk-neutral, it should evaluate the risk associated with its approaching strategies before making significant decisions. This paper focuses on quantitative risk analysis and how it can contribute to understanding risk exposure and making good strategic decisions like BBC, one of the biggest media businesses who decided to outsource their finance activities. Also, identify business process (BPO) risk analysis as part of project. 1 Risk Risk is the fundamental elementRead MoreFinancial Statement Analysis Of Bay Area Community Hospital1269 Words   |  6 PagesCommunity Hospital Finance management is imperative in the operations of an establishment in determining whether the company will survive for a long period of time or for a short period of time. Therefore, the purpose of this paper is to interpret and analyze the financial statements of Bay Area Community Hospital (BACH) to elaborate how understanding it can be beneficial to managers and executives. Implications of Economics For Advance Practice Nurses The roles of advance practice nurses are evolvingRead MoreThe Challenges Of An Enterprise Resource Planning ( Erp ) System837 Words   |  4 PagesERP is business process management software, which allows an organization to use a system of integrated applications to manage the business and automate many back office functions related to technology, data warehouse, finance, human resources and other services. In this paper, the emphasis will be mainly on the following two concerns of retail and manufacturing industry- †¢ We will be exploring the ERP experience with that of other non ERP technologies in the manufacturing industry relating toRead MoreIndividual Research Project : Cpa1055 Words   |  5 Pagesbecoming a CPA have a larger variety of opportunities to choose from, such as Auditing, Business and management Consulting, Information Technology, International Financial Reporting and Tax Advisory Services (NASBA). In today’s economy and technological advances the career security is the most appealing of obtaining a CPA license. CPAs are in high demand due to a shortage in experienced accountants (Colpo). To sit for the CPA exam, you must acquire the education and other requirements which varies by stateRead MoreCasa de Diseno Essay665 Words   |  3 PagesThe borrower usually pays a commitment fee to the bank to compensate them for having the funds available â€Å"on demand.† †¢ Commercial paper—a 3-day to 270-day loan sold as a security to the lender. Secured Sources: †¢ Pledging accounts receivable—a lender loans money on the basis of the creditworthiness of the borrower’s customers who bought on account. The lender advances the money to the borrower in an amount discounted from the book value of the receivables. When the borrower collects the receivablesRead MoreSteps for Making a Successful Acquisition: Case Study1249 Words   |  5 Pagesexpectations. In this text, I will describe an acquisition I want to make as a CEO of a private equity firm. Amongst other things, I will highlight the steps I will undertake to ensure that the acquisition is a success. Further, I will also describe the managerial motives of the acquisition as well as the resource-based and institution-based issues I am likely to encounter. Discussion Currently I am the CEO of a private equity firm based in New York. We are one of the largest private equity entities in

Kennedys Life, Leadership, and Legacy - 1657 Words

Which American president deserves to be titled the best? This question cannot be answered simply, nor matter of factly, for every answer would be a varying opinion. However, a collective voice of patriots would agree that John Fitzgerald Kennedy would give all others a run for their money. He was viewed not only as an inspirational leader, but also as an honest, loving man who quickly morphed into the only ray of hope that Americans had seen in quite some time. People trusted him to rejuvenate the country in a peaceful and courageous way -- standing up to intimidators, restoring order in mass chaos, aiding the weak and feeble, and guiding the nation to a glorious time filled with prosperity and joy. Though. his role in leading the nation†¦show more content†¦Kennedy†). Kennedy’s Inauguration was one that will not be easily forgotten. It was a bitterly cold day and the weather was wretched. It was snowing heavily which caused a number of citizens to be denied coming to the ceremony (Kahn). Among the several who missed it was President Herbert Hoover who could not attend due to the conditions hindering the use of his airplane. During the ceremony, Vice President Lyndon Johnson fumbled his words in his swearing in causing it to be a lengthy process and a lectern caught fire during the invocation (Kahn). Even so, the event is looked back upon with loving memories of those who experienced it. Citizens agree that a wonderful feeling of hope infected the country and caused the nation to echo with sounds of optimism and anticipation. In Kennedy’s actual speech, citizens heard the clear evidence of their new president’s patriotism and the honesty and integrity which caused them all to be enthralled with him in the first place. Kennedy spoke with a sense of pride and honor that would make any American love to be part of this great nation. When he mentioned the founding fathers of the country, he did so in a way that clearly portrayed an emotion of awe which distinctly shows how inspired by them he truly was. â€Å"We dare not forget today that we are the heirs of that first revolution,† isShow MoreRelatedJohn F. Kennedy 1158 Words   |  5 PagesReflections on the Life, Assassination, and Legacy of John F. Kennedy written by Dean R. Owen is a series of reflections of people who knew and admired John F. Kennedy. Most people in the book discuss where they were the day of his assassination, their reaction, and how it affected everything and everyone around them. Others speak about what kind of leader Kennedy was, the legacy he left behind, and how when he died the country was never the same. Owen writes about people who once workedRead MoreThe Leadership And Legacy Of John Fitzgerald Kennedy3150 Words   |  13 PagesCamelot: The Leadership and Legacy of John Fitzgerald Kennedy Carson Ray Senior Division Individual Historical Paper Paper Length: 2,470 words To the average person, Camelot was an era of promise, hope, perfection, and the struggle for equality. It was America’s only real with national royalty as the people looked to the president and first lady for fashion, their connections to Hollywood and the very rich, and how to comport themselves in a most glamorous manner..Read MoreLeadership And Legacy Of John F. Kennedy1388 Words   |  6 PagesJohn F. Kennedy His Leadership Legacy John F. Kennedy was born on May 29, 1917 in Brookline, Massachusetts and was known as (Jack). He was the son of Joseph P. Kennedy, an ambassador to Great Britain during Franklin D. Roosevelt administration. The Kennedy’s were one of the wealth family in American. He was one of the most important leader in America. When he graduated from Harvard University in 1940 he wrote a winning note with his publication of â€Å"Why England Slept†, it was an expansionRead MoreKennedy Is an American Tragic Hero1695 Words   |  7 Pagesclass was kept afloat for about four hours by Kennedy, who swam three miles to a small island with McMahon’s life jacket between his teeth. My stepfather often told me that he begged Kennedy to just leave him there, that the rescue was too difficult†¦He thought the world of President Kennedy, who saved his life, no doubt about it. (Granberry, Michael). Kennedy not only saved McMahon’s life but he also saved the lives of almost a dozen of his crew men. JFK’s rescued men talked about this event at anRead MoreJohn F. Kennedy: A Legacy Never Forgotten1377 Words   |  6 Pagescarry on the Eisenhower administration and told the voters that he would maintain military strength, provide strong leadership, and keep American prestige high. While in office Kennedy vowed to make a difference in the lives of the people by creating new civil rights laws. For the first time, underappreciated Americans started to see hope for the battle for equal rights through Kennedy’s promises. This election was important to the American people because they wanted to see a change in their economyRead MoreThe Legacy of John F. Kennedy Essay2477 Words   |  10 PagesKennedy, a charismatic and energetic leader, was loved by the American people. He had many plans for his time in office, some of which he was able to personally achieve, w hile others were left to his vice-president, Lyndon B. Johnson. Although his life was tragically cut short, John F. Kennedy left an indelible mark on the United States of America in and out of the oval office. The 1960s were a period full of discord and social upheaval. Civil rights, the Cold War, and other issues awaited theRead MoreJohn F. Kennedy - the Speaker Essay2147 Words   |  9 PagesDionisopoulos, 1995). 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In this research essay I intend to analyse and discuss the relationship between the USSR and the U.S. throughout the Cold War period, the build up to the Cuban Missile Crisis and ensuing tensions surrounding it. Whilst doing so, I will also look at President John F. Kennedy’s decision making throughout this period and the consequences of these decisions, in particular, his

The Troubled American Education System Free Essays

In an enlightening article by writer April Shenandoah, on March 20, 2002, the reality that Americas’ education system is in real trouble becomes clearly evident. The writer feels that when a child in America attends school, he is, in fact, more at risk than if he did not attempt to attend. This is because, of late, it has become obvious that most negative influences that children are faced with are being increasingly found in the public schools that they attend, and it is during the past few decades that the situation has worsened even further. We will write a custom essay sample on The Troubled American Education System or any similar topic only for you Order Now In a simple comparison between the situation in public schools today and that during the 1940’s, it is indeed amazing that punishments were given for ‘offences’ such as, for example, running in the corridor, chewing gum, talking in the class, and at times, unfinished homework, whereas today the top offences are drunkenness, drug abuse, assault, rape, and many other similar crimes, including murder. (Shenandoah, 2002) What has made the system even worse is that not only does the child have to cope with drugs and the immorality that is generally associated with them, but he would also be forced to study in the ‘second rate’ education system of today. This is evident in the fact that from the year 1963 onwards, the scores for the ‘Scholastic Aptitude Tests’ have been constantly dropping. This has developed into yet another problem, and this is that since the grade have been dropping, students are not able to cope with the existing syllabus, and today, newer textbooks have to be written for students at a lower grade level, so that they may cope better. It is the truth that today’s newspapers and magazines are written for people at about a sixth grade level, and this is the standard of the average American citizen. What is even worse is the fact that many students are not at all aware of how little they are actually learning, and when they apply for University education elsewhere, it is then that they are forced to accept the fact that they have not received a good and solid education. (Shenandoah, 2002) An extract from a speech made in the Senate on January 23, 1990, shows that the author believes that the American education system is in deep trouble. One reason for this may be that everyone, politicians, educators, and numerous others who are involved in the system seem to have forgotten one important aspect of public education: the child. No one really seems to care for the child; more concern is being shown towards racial balance, effective teaching methods, an improvement of the curriculum, and so on and so forth, but the student, the child has become lost is all this. For example, in a school in North Carolina, importance is given to ‘racial balance’, wherein school children belonging to all types of races are put into the bus two hours before the start of school, and dropped off an hour before school is supposed to begin, and the children are quite worn out and tired even before school has started. (American Education in Trouble) In a similar manner, teachers are being trained into becoming more ‘effective’ teachers, and this would entail that they follow a set pattern of behaviors within the classroom so that they may be able to secure a better score with the administration. What about the children? Who cares about them? They are not allowed to interrupt, or even to become involved with the lesson being taught, because this may interfere with the ‘mandated’ behaviors that the effective teacher is set to follow, and lower his rating. Today, most states are becoming aware of the fact that this system is doing absolutely no good for the children, and are therefore trying to eliminate it. Another is the ‘merit pay’ system. This may be a credible concept and linked to the evaluation of teachers, but the problem here is that even today, the evaluation is carried out under the ‘effective teacher’ plan and not under the merit pay system, and therefore, this is not at all valid. The textbook system in public education in America today has, in fact, become more of an ‘absurdity’ than anything else. Textbooks today are not only becoming more and more expensive, but the content of the textbooks is also going down in its standard. Today, it is a fact that more and more textbooks are being written by the so called ‘experts’ in the field, and the curriculum as such is dictated by either the current educational ‘fad’ of the time, or by the special interests that the expert may have in the entire episode. It must be remembered that almost all educational fads last for a maximum period of ten years, and it is a sad fact indeed that by the time the teacher becomes accustomed to the content and the information contained within the textbooks, they have already become obsolete, and it is time to change them yet again. In addition, it is a fact that the textbook industry is a huge and lucrative one, and all the smaller schools and the smaller states find that they are completely at the mercy of the textbook selectors in the states, where they are the largest spenders. One example is the influence that a large state like California has had on the textbook industry. In recent times, California had rejected all the science textbooks because it felt that the subject matter of evolution had not been given enough importance and the information was much too scanty, and today, all science textbooks are full of assertions that want to prove that the unproven theory of evolution is indeed a fact. At the same time, religion was banished from textbooks, especially during the 1980’s, because of the separation of the church and the state and the controversy surrounding the issue. Teachers are also scapegoats in the education system in America, for who really cares for them? At the outset, they are extremely overworked, in fact, more than any other worker. They are forgotten too, just like their students, in the long run. At the same time, they are expected to care for the forgotten students, and they are also expected to teach more and more, despite the fact that they are not given more and more time in which to teach. Neither extra time nor money would be able to solve all these problems. And teachers may be asked to teach the basics of mathematics, English, science, a foreign language, and social studies instead. They must also be asked to teach those children who are well rested and well fed, and not exhausted after long bus rides and longer waits in the cafeteria. They may be evaluated by those persons who have a valid teaching certificate in their possession, and who have been active in the classroom for at least a minimum period of one year. In addition, if they were not given any extra duties, and if the administration was willing to share in any extra duties, then the teacher would be able to fare much better in the classroom, and care for her children in a way never done before. It is the opinion of Michael L Berger in his book entitled ‘The Public Education System’ that there are six important controversies that generally appear in American public education systems, and these are: the budget that has been allocated for the educational system, the various auxiliary services that are needed, the facilities and the equipment needed in schools, the basic curriculum of education, the various personnel involved in teaching, and finally, the administrative rules and regulations that have to be followed by the schools. In the book ‘Critical Social Issues in American Education: Democracy and Meaning in a Globalizing World’, the authors feel that it is the various interrelationships between different educational institutions, public education in particular, that is very important in the American public education system. Public education is in general, subject to a vast number of influences, like for example, community pressure, and community concerns. Schools also tend to interact with other schools, and therefore, leave an impact on each other; in other words, it can be said that there is a wide interaction between various aspects of the educational system, and when cultural and religious and other beliefs interact with budgetary concerns, and demographic concerns as well as politics and ideological debates come into the picture, the educational system has to keep all these considerations in mind so that it may be a good and an effective one. It is when it does not happen that the educational system suffers a setback. (Purpel; Shapiro, 2004) It must be remembered, however, that teachers are a very important part of the public education system anywhere in the world, and especially in the United States of America, and when taken from an economic point of view, it is the so-called ‘teacher unions’ that are not only producers of representative services, but are also consumers of such representative services in the educational system. From the time when unionization took place for teachers, during the 1960’s, the National Educational Association’ and the ‘American Federation of Teachers’ have been monopolizing the market in terms of representative services. This type of monopoly does indeed have its adverse effects, and these are that the costs have skyrocketed, and at the same time, the service has become vastly inferior to what it was before. (Leiberman, 2003). Finding the best possible schooling for a child in the present circumstances has indeed become an uphill task today, especially for minorities, like African- American children. Perhaps this may be because of the large number of options available to children today, what with the educational system being bombarded by ‘magnet programs’, charter schools’, and manifold other public school options. Parents today have to be choosier than ever before, and at times, this can very well be overwhelming. (Lord, 2005) Recently, when two important economists were asked the question about what was America’s greatest challenge today, the reply was that it was the education system. The problems can be seen as being from both outside and also from within the school and perhaps one of the most important reasons is the breakdown of the ‘family unit’. As parents today find less time to spend with their children, the school is expected to compensate. In addition, the decline of values in society is a major contributing factor, and this leads to a lack of basic discipline, a lack of attention, and so on. Another important factor is the worsening health of American children, and while some are exhausted and tired, some more are hungry, and some others are diagnosed with learning disabilities of some kind. The teaching system is also at fault, because children are forced to learn according to the teacher’s convenience and not to theirs’. The lack of emphasis on spiritual development can also be taken as a major factor contributing to the lackluster American public education system, and along with various other factors, this can become a major drawback. What can be done to change the educational system? Redesigning the public education system is a daunting task, but it must be undertaken for the betterment of American children and eventually the society. Long standing practices have to be reconsidered, high quality learning opportunities must be provided to American children even before kindergarten, and perhaps the existing method of promoting a child from one class to the next can be eliminated so that children may be allowed to learn and to progress at their own pace. More teachers must be brought in, and the quality of teaching must be improved. If at least some of these measures were to be adopted for a start, then changes can indeed be brought in to the declining public education system in the United States of America (Guillory, 2001). How to cite The Troubled American Education System, Papers

Economics for Global Decision Makers

Question: Discuss about economics for global decision makers. Answer: It is a well-written and well-explained post. The business cycle phase of Spain in the year 2013 showed positive signs after the country was hit badly by the global financial crisis of 2009. The global meltdown eventually resulted in the Eurozone Crisis in the coming years. National debt was high and the there were no signs of getting a refinance from the global forum (Burgen 2015). In such a state, Spain along with Portugal, Ireland, Greece and other European countries were unable to repay their debt obligations. In such a situation, the economy of Spain coped up a little in 2013. The result can be found in its Real GDP growth rate that decreased from a -2% to -1.7%. A 0.3% decrease in such a situation is of great importance. The second answer is commendable as it clearly explains the real GDP demand and the state of consumption during the year. Consumption and propensity to consume declined during the year as unemployment rate increased. People of the country lost jobs due to the condition of the economy (Europa.eu 2016). This resulted in a decrease in the disposable income that people used to have. As a result, of unemployment, industrial production was hampered that affected the net GDP of the country. Investment activities and industrial production rate has been linked nicely and the nexus between them has been brought out in a commendable manner. Employment rate and labour force participation rate has been explained very well. The calculations have been shown in a simple manner that can be understood by everyone. Data from both the years have been used in an impeccable manner to bring out the changes and the effect of changes on the economy of the country (focus-economics.com 2016). The impact of unemployment and the labour force participation rate on the real GDP in the year has an effect on the performance of the entire European economy. In question number six, the explanation provided is apt and sufficient to have a clear idea about the strength of currency of Spain. The impact of negative inflation or deflation on the purchasing power of the currency, linked with unemployment rate of the country has been explained in a proper manner. The calculations support the assertions made in explaining the answer. The relation between export and the fall in price of commodities in the domestic market along with its impact on the disposable income of the people has been indicated in the first part of the answer (the Guardian 2016). However, this portion required a little bit more elucidation. The demand and supply function has been hinted in this answer. Inflation rate does affect demand and prices of commodities. A positive attitude of the people has been indicated. The tendency of the people to save their limited income shows a positive sign. In this manner, savings can be channelized into suitable investment opportunities. Saving intentions along with spending pattern determines capital market participation. References Burgen, S. (2015).Growth up, joblessness falling is Spain's crisis finally over?. [online] the Guardian. Available at: https://www.theguardian.com/world/2015/mar/26/bank-of-spain-economic-recovery-accelerating [Accessed 5 Jun. 2016]. Europa.eu. (2016).EUROPA - Documents and publications. [online] Available at: https://europa.eu/publications/index_en.htm [Accessed 5 Jun. 2016]. focus-economics.com. (2016).Spain Economic Outlook. [online] Available at: https://www.focus-economics.com/countries/spain [Accessed 5 Jun. 2016]. the Guardian. (2016).Eurozone crisis | Business | The Guardian. [online] Available at: https://www.theguardian.com/business/debt-crisis [Accessed 5 Jun. 2016]..