...I. Current News On February 1, 2010 Brown-Forman stated it is planning to establish its own distribution company in Germany starting in the third or fourth quarter of 2010. Germany plays a role in international sales and having a fully-owned sales and marketing operation will greatly help Brown-Forman’s sales. Brown-Forman should gain a competitive advantage in Germany because they will no longer need a distributer. By being able to sell and market its own products Brown-Forman should have increased international sales in Germany. (Brown-Forman News, 2010) On January 15, 2010 Brown-Forman announced its plan on giving up to $100,000 to American Red Cross to assist in the relief efforts. Brown-Forman also said it will match employee donations up to $20,000 for American Red Cross, which means the company and its employees will contribute as much as $140,000 to the Haitian Relief efforts. This kind of charity is good public relations for the company. It shows Brown-Forman is more than just a company that cares only about their net income and sales. Because there are many companies in the same industry who haven’t done anything for Haiti, people could be more likely to buy Brown-Forman’s line of products knowing that the company donated money. (Brown-Forman, 2010) In 2009, The Brown-Forman Corporation achieved the highest year to year score increase among all companies rated by the Human Rights Campaign. The Human Rights Campaign is America’s largest civil rights...
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...Case Study 4: Corporate Valuation Case 51: Brown-Forman Distillers Corporation 1. Why is Brown Forman considering buying Southern Comfort? In your answer consider the strategic motives of Brown and the arguments in favour of and against the acquisition. Producing and selling high-quality products is the company’s marketing philosophy. Although Brown-Forman was the fifth-largest distiller in the United States, it spent a lot of money in advertising support in order to build best brands in the world. In a while, the whiskey market was in a depression. Brown- Forman faced a big challenge to overcome this period. In order to expand its product lines, Brown-Forman chose several of products which has fast growth in the alcohol beverage market. So the company can expand its product lines. In addition, during the 1978 to 1980 period, the company invested $86 million in advertising and promotion, $39 million in barreled-whiskey inventory and $19 million in fresh plant and equipment. The company was aware of that the foreign market also was important for the later growth of company. Advantages: The Southern Comfort can provide a variety of products to customers. After this acquisition, the earning per share and share value of stakeholders value will increase. The profit/sales ratio is high. So the company can make more profits. The average assets/sales ratio also is high. Therefore, the company can make more earnings and produce high-quality...
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...Analysis for Brown-Forman Strategic Analysis — MBA 601 Dr. Robert Nixon Prepared by the Blue Team: Alexandria Lovan Ryan Melander Michael Miao Cipriana Prepeliuc Jasleen Sethi Table of Contents Type chapter level (level 1)1 Type chapter level (level 2)2 Type chapter title (level 3)3 Type chapter level (level 1)4 Type chapter level (level 2)5 Type chapter title (level 3)6 BACKGROUND Brown-Forman, headquartered in Louisville, KY, is one of the largest producers of wine and spirits in the United States and one of the leaders in whiskey production worldwide. Founded in 1870 by George Garvin Brown, a pharmaceutical salesman, Brown-Forman has grown into a leader of high-quality spirits and wine around the world. Beginning with a single brand, Old Forester, the company acquired Jack Daniel in 1956, Canadian Mist in 1971, Southern Comfort in 1979 and many other premium alcoholic beverage brands throughout its 144 years of existence. In addition, Brown-Forman acquired Lenox in 1983, a producer of crystal, china, and luggage. In the 1990s, Brown-Forman began aggressively marketing internationally and saw a steady increase in its global market share of premium liquors. However, the consumer product division of Brown-Forman did not see the same growth and the company eventually sold the Lenox division in 2005. Today, Brown-Forman is a publically traded company, predominantly with 33 brands of premium wine and spirits sold in 135 countries(I found in the 2014 annual report that it`s...
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...Brown-Forman Analysis ACC/300 Brown-Forman Analysis George Garvin Brown in Louisville, KY, founded Brown-Forman in 1870 and they produce vast array of wines and spirits. The products are high quality and still include Old Forester Kentucky Straight Bourbon Whisky the company’s first product. It was America's first bottled bourbon and remains one of Brown-Forman's finest brands today. Brown-Forman has on staff over 4,000 people worldwide, with their global headquarters in Louisville employing approximately 1,000 people. They are not only one of the largest American-owned spirits and wine companies but they listed in the top 10 largest global spirits companies. What started as a young salesperson idea to sell top grade whiskey in sealed glass bottles has now flourished in to a company with sales of $3.8 billion dollars (BROWN-FORMAN Our Company, 2012.) The following will contain information on the organizations most recent financial statements. Corporate debt Securities A debt security in finance is when a lender such as a bank or corporation lends money to an interested party looking for financial gain in the form of bonds. Debt securities are interesting because they serve the purpose of creditors who loan money to a borrower and accrue interest to sell them. They have value. For example, a creditor creates a binding agreement with a borrower listing all the financial terms for loan payment in the form of a contract in which will carry value because...
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...In early July 1978, W. L. Lyons Brown, Jr., president and chief executive officer of Brown-Forman Distillers Corporation, faced an important acquisition decision. The principal owners of Southern Comfort Corporation had approached Brown in May with an offer to sell the company at a price of $94.6 million. In preparing his response, Brown was evaluating the feasibility of the asking price and the likely effects of the acquisition on Brown-Forman’s share price. As a leading producer, marketer, and importer of wines and distilled spirits (including the well-known Jack Daniel’s brand), Brown-Forman ($457 million net sales) was the fifth-largest distiller in the United States, after National Distillers ($586 million), Seagram ($2,018 million), Heublein ($839 million), and Hiram Walker ($875 million). How Brown had chosen to position Brown-Forman among its competitors would affect the appraisal of Southern Comfort. Brown-Forman: Financial Goals and Performance In 1977, Brown-Forman’s management adopted new long-range financial goals regarding: (1) hurdle rates for investment; (2) size of the capital budget through 1980; (3) target capital structure; and (4) dividend payout. The primary objective of these goals was to “increase the value of the stockholders’ investment.” The dividend payout ratio (all dividends paid divided by net income) was targeted at a range of 30% to 35%. Planned investment during the 1978 to 1980 period included $86 million for advertising and...
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...• Why do some organizations achieve great success in rolling out a mentoring program, while others achieve only a modicum of success? We believe that the companies that are most successful view corporate mentoring as an organic process, meaning that they understand that mentoring programs evolve and grow. Our experience demonstrates that the difference between mentoring success and failure lies in the ability to build capacity and integrate learning continuously. In order to create a successful mentoring program, you should answer 20 questions. We've included dos and don'ts for each, based on research and our experience in developing a mentoring program at Brown-Forman Corporation. 1. What are our business reasons for developing a mentoring program? You should develop a mentoring program if and when you have solid business reasons, such as to speed up the development of future leaders or to share organizational knowledge. Do your homework. Look at employee retention rates, the percentage of senior managers who will reach retirement in the next five to 10 years, current bench strength, and developmental objectives. Don’t develop a mentoring program because it’s popular or because you've read that it works for other companies. 2. What organizational support exists and what needs to be developed? Successful mentoring initiatives require visible support and involvement from the highest levels of the organization. Do...
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...Management 600 Dr. Luce Blake Herner Brown –Forman Corporation Founded by George Garvin Brown and John Forman in 1870 Brown- Forman is now one of the largest competitors in the alcoholic beverage market within the United States. The company is headquartered in Louisville, Kentucky and is still family owned to this day. While the company sells a wide variety of products they are specifically known for their wine, spirits and whiskeys. Under an umbrella of roughly 25 distinctive brands “Brown-Forman Corporation is a diversified producer, marketer, and exporter of alcoholic beverage and consumer products”. Their top sellers are “Jack Daniel's whiskey, Southern Comfort liqueur, Canadian Mist Canadian whiskey, Early Times and Old Forester bourbon, Glenmorangie Scotch, Finlandia vodka, Korbel champagne and brandy, and Fetzer, Bolla, and Sonoma-Cutrer wines” (1) www.fundinguniverse.com/company-histories, Organizational Change and strategic Bourbon was the original product Brown-Forman produced and sold giving theirs the title of ‘ Old Forester’, which is still in production today. Bourbon was traditionally sold by the barrel directly from the distiller to the retailer. At which point the bar or pub would transfer the bourbon into there own bottles. Recognizing this opportunity and understanding the power of marketing using a differentiated approach, Brown-Forman began bottling ‘Old Forester’ making sure each was corked and sealed. This was the first marketing...
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...brand is produced by the Brown-Forman Corporation. Brown-Forman produces and markets many of the most well-known and best-loved wines and spirits in the world. Some of their popular spirits include Jack Daniel’s, Canadian Mist, Southern Comfort, Gentleman Jack, and Early Times. A few of their wine labels include Fetzer, Bolla, Bel Arbor, and Michel Picard. The Brown-Forman Corporation is one of the largest American-owned companies in the wine and spirits business. They are considered a top diversified producer and marketer of fine quality consumer products within their industry. Headquartered in Louisville, Kentucky, Brown-Forman was founded in 1870 by George Brown and John Forman as small town distillery producing Old-Forester brand bourbon. They compete in the distillery industry that includes about eighty companies with combined annual revenues of $ 6 billion. Today, the company employs approximately 3800 people in the U.S. and abroad. For fiscal year 2008, the Brown-Forman company had sales revenue of approximately $ 3.3 billion with a net income of $ 440 million. In 1956, Brown-Forman purchased the Lynchburg, Tennessee-based Jack Daniel’s. They maintained the simple black Jack Daniel’s label. The Brown-Forman Corporation has found global success by introducing Jack Daniels to overseas markets. The Jack Daniel’s product is the company’s leading brand and is the largest selling American whiskey by volume in the world. Brown-Forman has been able to grow the...
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...Boston Photographs,” the author Nora Ephron shares one of her selections from her collection Scribble, Scribble: Notes, on the media (1978). This selection was a response to the “The Boston Photos,” that were captured by Stanley Forman, from the Boston Herald American who used a motor –driven Nikon set at 1/250, 15.6-s. Ephron tries to inform and persuade the readers on why those Boston photos should be publish and why all photos make great journalism and she accomplish those things. With that being stated, her thesis and purpose of this selection is that photojournalism is better than written journalism. Ephron explains and give her opinion and others opinion on why and why not these Boston photos that were token around the 1930’s should or shouldn’t be publish for the public eyes. The audience of this selection would be students that major in photography or journalism, and on the other hand people who read the newspaper on the daily. Ephron starts her selection off by giving the reader background information on the Boston photos. She did not leave the audience guessing on what she was talking about. These pictures were taking while a firefighter was trying to save a young women’s and child’s life during an apartment fire. The photographer, Stanley Forman did not know the ending outcome of that failed rescue. As he took the photos you see the firefighter grabbing the ladder as the young women and child were felled unto the ground. The young women failed to her death but saved...
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...One Flew Over the Cuckoo’s Nest Many classic novels have been adapted into movies. However, to the avid reader, in many cases these movie adaptations often seem to fall short of the novel’s true meaning and depth, causing so many movie-goers to say, “The book is better.” Due to time constraints movies often cannot fit all of the detail that a book contains and can easily fall short of the expectations readers may carry seeing the film version of a favorite novel. In the case of One Flew over the Cuckoo’s Nest, written by Ken Kesey, some key differences are created by the director, Milos Forman, both in the interest of time and to create a more fast-paced feel for the movie viewer. While several differences exist, the three most significant are in that of the characters, the overall development of the ward in which these men live, and in the point of view created by the novel’s eyes and ears, Chief Bromden. Randle Patrick (R.P.) McMurphy shows up early in the story as a brash, large redheaded man, sporting curls under his cap and broadness in his frame. In the novel he is portrayed as a large, sun-kissed man who has spent his days on the work farm, serving a sentence for crimes committed. However, within the first minute of the movie the viewer is introduced to this same character in the form of Jack Nicholson, who holds almost none of these physical characteristics. There is minimal effect on the viewer however, as Nicholson portrays the role admirably, shining in a...
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...the backs of cabinets and in crevices between baseboards and floors or cabinets and walls. They may also be found behind pictures or within electronic equipment. A number of these openings will ultimately lead to voids in the stud walls. The insects leave these sites at night to forage for food and water. The presence of cockroaches during the day may indicate a large population. There are about 3,000 species of cockroaches in the world and about 50 occur in the United States. Of these 50 species, the three most common in the Northeast are the German cockroach, the American cockroach and the brownbanded cockroach. German Cockroach: Blattella germanica The German cockroach is 12 to 17 mm (1/2 to 5/8 inch) long, tan to light brown, and has two dark brown stripes on the body region (pronotal shield) just behind the head. Females will produce four to eight egg capsules during their lifetime, with each capsule containing approximately 40 eggs. The egg capsule is retained by the female until the eggs are ready to hatch, usually in 28 to 30 days. | German cockroaches are widespread and can be found in homes, restaurants, hospitals, nursing homes or apartments. Within these areas, the cockroaches prefer sites close to...
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...Analysis and Presentation of Data The name of the river that the researcher studied is Wag Water, the study areas are: Golden Spring, Toms River and Annatto Bay. The river flows north from Golden Spring to Toms River to Annatto Bay. Velocity According to Vohn A.M. Rahil: in the New Caribbean Geography. The velocity of a river is the speed that water travels down the river channel. The velocity of the river is found to be faster in the upper course due to the gradient of the river channel. Experiments were carried out using the tennis ball and stop watch to find the velocity of the river in Golden Spring, Toms River and Annatto Bay; however the velocity of the river at Annatto Bay could not be done because of an unforeseen obstacle which is the depth of the river that is too deep to enter. Golden SpringFigure [ 1 ] Figure 1 Stop 1: A ten meter (10m) distance was measured to take the velocity of the river along the Wag Water River in golden spring. This was done by a set of students at a maximum of three times for accuracy. The first interval clock a time of 20.25seconds, the second interval clock a time of 17.55seconds and the final interval clock a time of 19.55seconds as shown in figure 1 above. Toms River Figure [ 2 ] Stop 2: A ten meter (10m) distance was measured to take the velocity of the river at Toms River. This was done by a set of students at a maximum of three times for accuracy. The first interval clock a time of 24.33seconds, the...
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...Anyone who’s known me over the past two years have seen a tremendous change in regards to how I look. I’ve always had dirty blonde hair but in July of 2014 my mother’s will finally snapped and she let me dye my entire head purple. I was lucky enough that the dye I chose faded really nicely. After the royal purple faded it turned into a bright pink colour, then into a light baby pink; then I decided pink wasn't for me so I tried bleaching my hair but for some reason the dye refused to leave. Because my hair dye was the equivalent to super glue I decided the only option was to dye my hair brown to start off the new year. The brown dye stayed for a while but next I was back to blonde for graduation; but when July came around again and the heatwave...
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...The coniferous forest is located in Canada, Europe, Asia, and the United States. The temperature ranges from -40 Celsius to 20 Celsius. Average summer temperature is 10 Celsius. Yearly precipitation varies from 30 to 90 centimeters per year. Coniferous forest regions have cold, long, snowy winters, and warm, humid summers. They have well-defined seasons, and at least four to six frost-free months. There are two types of Coniferous forests: 1. Open, lichen woodland, which has trees, spaced far apart with lichen growing between them. 2. Closed forests, which have trees very close together and a shaded, moss-covered forest floor. The major aquatic zones of the coniferous forest are marine, freshwater, and brackish. The average salinity of marine is 3%, freshwater 1% or less, and brackish mixture of salt and fresh. Clear-cut logging is the biggest threat to the Coniferous forest. Replanting after logging leads to single-species conifer monocultures. Clear cutting accelerates soil erosion, degrades wildlife habitat and leads to the loss of biodiversity. The land is being cleared for ski slopes, landfills, housing, and new roads. In Canada, one acre of forest is cut every 12.9 seconds! Mining operations is another threat to the Coniferous forests because of the chemicals used in mining and the silt released by mining. Road construction destroys the forest and also acts as a barrier to wildlife. Roads isolate populations of species from feeding grounds, natural migration routes and...
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...GLOSS TITANIUM BLUE NATURAL NEUTRAL BROWN BLONDE TONE: Silver/Blue TONE: Blue TONE: Blue/Violet Red/Violet DESCRIPTION & LEVEL OF DEPOSIT TONE: GOLD BEIGE GOLD GOLD GOLD WARM GOLD COPPER AUBURN/ AUBURN ACCENT TONE: Gold/Mauve TONE: Yellow TONE: Yellow Yellow TONE: Yellow/Orange TONE: Orange TONE: Orange/Red BLACK TO GRAY BACKGROUND COLOR COPPER BROWN TONE: Red/Orange RED BROWN TONE: Red MAHOGANY VIOLET COPPER COPPER TONE: Violet/Red TONE: Orange/Orange RED RED VIOLET VIOLET TONE: Red TONE: Red/Violet TONE: Violet NO BACKGROUND COLOR BROWN TO TAN BACKGROUND COLOR 9 VERY LIGHT BLONDE LIGHT SHADES 8 LIGHT BLONDE 09T 09B 09N 09NB 09GB 09G 09AA 09RB 09V Chrome Sterling Cafe au Lait Irish Creme Butter Cream Vanilla Creme Papaya Blush Platinum Ice 08N 08GG NEW Mojave Gold Dip 08WG 08C 08MV 08V Golden Apricot Cayenne Cedar Iridescent Quartz 7 MEDIUM BLONDE 07NB 07GB 07G 07C 07CB 07MV Chestnut Butterscotch Saffron Curry Spicestone Birch 07V 07CC NEW Crushed Amethyst Urban Fever 5 LIGHT BROWN MEDIUM SHADES 6 DARK BLONDE 06T 06N 06NB 06GB 06G Iron Moroccan Sand Brandy Toffee St. Tropez 06GG NEW Midas Touch 06WG 06AA 06CB 06RB 06R Mango Bonfire Amber Glaze Cherry Cola Rocket Fire 05N 05G 05C 05CB Walnut Caramel Chili Brownstone 05RV 05CC NEW Sangria Electric Shock 4 MEDIUM BROWN 1 BLACK DARK SHADES 3 04WG Maple DARK BROWN 04NB Sun Tea 03N 03NB 03G 03A 03RB...
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