...company, Chase Manhattan Corporation’s roots were planted during the final days of the 18th century in New York. During this time, after an epidemic of yellow fever the New York state legislature chartered the Manhattan Company to build a water supply system to bring clean water to the state. Because of the surplus of capital, some $2 million, the directors voted to use those funds to open an office of “discount and deposit”. On September 1, 1799, the Bank of the Manhattan Company was founded by Aaron Burr and opened in a house on 40 Wall Street. Over the next few years, after the success of its waterworks, the company sold the waterworks and retained its focus solely on banking. Growth was steady over the years, but its expansion took off after the onset of the 20th century. In 1918, the company acquired its first branch office after a merger with the Bank of the Metropolis. Two years later, it merged with the Merchants’ National Bank of the City of New York and then the International Acceptance Bank, Inc in 1929. This merger noted the banks future in foreign trade financing. The Chase National Bank was organized September 12, 1877, by John Thompson, who named the bank in honour of the late U.S. Treasury secretary Salmon P. Chase although Chase had no connection with the bank. Chase National’s growth was phenomenal, and by 1921 it had become the second largest national bank in the United States, without any mergers. After that year the bank acquired a number of smaller bank: Metropolitan...
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...Case Study: Chase Manhattan Bank Chase Manhattan Bank The workload in many areas of bank operations has the characteristics of a nonuniform distribution with respect to time of day. For example, at Chase Manhattan Bank, the number of domestic money transfer requests received from customers, if plotted against time of day, would appear to have the shape of an inverted-U curve with the peak reached around 1 P.M. For efficient use of the resources, the manpower available should, therefore, also vary correspondingly. A variable capacity can effectively be achieved by employing part-time personnel. Since part-timers are not entitled to all fringe benefits, they are often more economical than full-time employees. However, other considerations may limit the extent to which part-time people can be hired in a given operating department. The problem is to find an optimum workforce schedule that would meet manpower requirements at any given time and also be economical. Some of the factors affecting personnel assignments can be listed 1. By corporate policy, part-time personnel hours are limited to a maximum of 40 percent of the day's total requirement. 2. Full-time employees work for eight hours (one hour for lunch included) per day. Thus, a full-timer's productive time is 35 hours per week. 3. Part-timers work for at least four hours but less than eight hours and are not allowed any lunch break. 4. Of the full-timers, 50 percent go out to lunch between 11 A.M. and 12...
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...credibility, communication and access to banking services whether through online banking or teller services. These factors represent the final dimensions of service quality that satisfy the customers. There are also the intangible aspects of the staff-customer interface. These intangible aspects include the implementation of a helpful, caring, and friendly and a committed approach among the members of the bank staff. Indeed, a positive experience in the area staff-customer interaction was the key to maintaining a high level of customer satisfaction. In a way, the bank customers respond positively to the customer-oriented, high-touch, and an intangible service quality criteria in an age of increased automation. The Chase Bank acknowledges that the critical dimensions of bank service quality and their implementation in practical business terms varies as the customer profiles and customer experiences evolve. Some studies have found that bank service quality expectations vary by segments and by countries (Arasli et al., 2005), and by time. It is possible that the saliency of bank service quality dimensions may be situational and may also adapt as the context changes. The ‘speed of service’ reflects differences resulting from both customer characteristics and exposure to high-tech banking practices. For example, a customer-Oriented service expectation is affected by the variation depending on the characteristics of the customers, culture, and the business context. Generally speaking...
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...The bank grew throughout the 19 century it became one of the leading banks in New York city, help finance construction of Erie Canal, in the 1850s was one of the founding members of the New York Clearing House, by early 20th century the bank of Manhattan company began focused on retail banking and became of the largest branches in New York city. In 1955 they merged with Chase National Bank. Chase was founded in 1977 by John Thompson, 75 year old banker in the city .John Thompson was widely known for his banker reporters. Chase was a “bankers bank “that provided correspondence services to other banks around the nation. In the early it 20th it expanded by developing relationships with corporate clients Chase operated 20 branches in New York...
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...STOCK VALUATION – Bank of America & JP Morgan Chase The 1997 Asian financial crisis made several economic concepts clear: (1) a nation's financial sector is a critical aspect of its macroeconomic stability; and (2) financial systems are important for maintaining order in the international financial sector. Some experts have stated that the 2014 outlook of the global economy is very positive. However, these same experts also clarified their statements, making it clear that risks are still present. There is a prognosis that there will be volatility in 2014. The implementation of financial market reform policies has been good, but these markets have not yet reached the level where reforms need to be. Therefore, a major reform in the financial sector is now necessary in all parts of the world. Haruhiko Kuroda, Bank of Japan Governor, said that the Japanese economy is doing well; this is due to the fiscal stimulus, monetary easing and structural reforms. He believes that a 2% interest rate is achievable in 2 years. He is optimistic, because the United States (US) economy will grow and Europe is recovering. That is a good sign that economies will grow and accelerate. But he also talked about the fact that there are some possible risks ahead. (Huroda, 2014) Wolfgang Schäuble, Federal Minister of Finance of Germany, stated that the euro is becoming more stable every day. He also said that the Eurozone performed much better than expected. Finally, he said that the...
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...How could some presymptomatic testing be considered toxic for the individual testing, especially testing at an early age? Nevertheless, many parents seek genetic testing of their children, especially for situations in which a genetic disease is known to be present in the family. They may have different reasons for wanting their children tested. These requests create a dilemma for pediatricians. The dilemmas arise, in part, because not all “adult-onset” diseases are alike. Sometimes, there are interventions that may be beneficial in childhood; sometimes, parents seek the reassurance that might come with a negative test result. The requirements for the diagnosis of Huntington's disease (HD) include medical history, family history, neurological examination, brain imaging testing (including magnetic resonance imaging or MRI and computerized tomography or CT), laboratory tests, and genetic testing (when necessary). Side Effects: • MRI: Small children have to be sedated because they must lay PERFECTLY still (which little kids aren't willing to do) for up to 45 minutes (impossible for even the most patient children), and the machine can freak them out. (It's loud and a very small space.) Side effects of the drugs are sleepiness (obviously), nausea, vomiting, irratibility. Sometime headaches and temporary light sensitivity, but it's rare and depends on the drug they use. • CT scans (also known as CAT scans) create 3-dimensional pictures using ionizing radiation. On a daily basis...
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...Kong Disneyland Finance Ron Shell Jiang Jiang Zhaojie Wang On August 10th 1999, Disney awarded the sole mandate to Chase Manhattan Bank for the Hong Kong Disneyland financing of HK $3.3 Billion. We believe this decision was beneficial for both parties. For Chase, the rewards included underwriting fee, interest payments, being a part of a big loan-financing project in Asia and developing networks and relationships with Asian governments and companies. This outweighed the risks of underwriting risk, credit risk and long-term collateral risk. In addition, we believe it was the correct decision to initially bid to lose and then change this approach once there was concrete support from the HK government. From Disney’s perspective, despite Chase’s standard commitment letter leaving them slightly vulnerable, choosing Chase as sole mandate made the most sense. Due to the unique nature of the loan (extreme long term, Disney’s desire to use operating cash flow for expansion and the principal collateral being non-existent for first 2 years), it made sense for Disney to choose a company that has a strong relationship with and one that was extremely flexible on the structuring of the loan. Finally, we believe the most suitable syndication strategy is to be Chase as the sole mandate with a two-stage syndication process and sub-underwriting (exhibit 8a) Chase Manhattan Bank made a smart initial decision by attempting to bid to lose. This strategy was ideal because due to the uniqueness of...
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...Case Study: Chase’s Strategy for Syndicating the Hong Kong Disneyland Loan (A) Q1. How should Chase have bid in the first round competition to lead the HK$3.3 billion Disneyland financing? 1.Three ways to approach this deal 1) bid to win, 2) bid to lose and3) no bid. Chase chose to bid to lose on the first round, but just enough to make it to the short list. Also, since Chase is one of Disney's relationship banks, Chase would not want to ruin this relationship by not bidding on their project. If Chase wanted to lead the competition from the first round, they should have made a bid that was more aggressive and aimed to win. This bid would have been closer to the desires of Disney, making them more appealing and increasing their probabilities of leading the financing. However, they chose to bid to lose, with just enough terms to get into the second round to "protect their reputation", but not to lead. The deal started to become more attractive with the possibility of Disney awarding a sole lead arranger mandate and with the increased potential for a successful syndication. At this point, after Chase made it through the first round, they decided on a more aggressive final proposal where they would be very close to meeting most of Disney’s demands in order to win the deal. 2. Standard Commitment Letter The standard commitment letter established by Chase for the Disneyland project would have the following terms: 1. HK$300 million loan. 2. 15-year maturity...
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...Strategy Learning Team Reflection: Chase Strategy Carla Brown, Christine Denson, Shacorra Hall, Danielle McGregor, Donnie Phillips OPS 571 October 1, 2015 Dr. Deborah Jones Learning Team Reflection: Chase Strategy Chase Strategy: Introduction Learning Tea A will discuss the Chase strategy. The examination of two companies that may benefit from the utilization of the Chase strategy will take place. Challenges a company may face implementing the Chase strategy within their organization is researched. Advantages and disadvantages of the Chase strategy are identified. Whether intentionally or unintentionally all companies depend on a form of demand generation strategy. The Chase strategy is best recognized when production meets demand from one period to the next. The strategy is most effective when demand is unpredictable and there is no inventory. According to "Chase Strategy Basics: A Lead Generation How-To" (2014), "The basic principle of the Chase Strategy is to identify the market you want to target with your marketing, and create a profile of potential buyers” (Chase Strategy Basics). Companies create a database of potential customers, and then take steps to get leads and turn leads to sales. The chase strategy concentrates selectively targeted accounts. The chase strategy is not for every business. As with all tactics, there are pros and cons with the Chase strategy. Some advantages when applying the Chase strategy are aggregating planning; inventory is allowed...
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...Amanda Preston Tracy Tenson Comp 105 February 10, 2014 The Chase At a first look Annie Dillard’s, “The Chase” is an ordinary tale of children being children. It tells an incident from Dillard’s childhood when she was chased by a man after hitting his car with a snowball. Dillard’s purpose is to convey that even though it is fast paced, the exciting moments in life can be remembered ages after. Dillard begins her story of the day she was chased by studying the details that led to the day of the chase. Dillard describes the strategies that she has learned by playing football. These strategies toughened her up both physically and mentally. Dillard says all or nothing, to signify the skills required to play football. She continues to use diction such as wholeheartedly, body and soul, fearlessly, fate, to stress the seriousness of her actions. Dillard’s use of vivid details allows her to illustrate the sport in her mind. She says you would get kicked in the face while the kid got away, which makes the readers think of such pain. Dillard continues to give the reader imagery and details. She describes the setting with the six inches of snow. The author continues to describe her friends- the Fahey brothers, Chickie McBride, Billy Paul, and Mackie Kean are described as dark and furious, grew up skinny, knowing and skilled. These descriptions allow the reader to identify and imagine the characters. Also, Dillard describes the setting using descriptions. “The tracks left by the...
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...The chase strategy is a tool used throughout many companies to meet the demand for their products. In this paper it will define what the chase strategy is. This paper will also identify 2-3 companies that might use the chase strategy. Finally this paper will list some of the challenges associated with using the chase strategy and why. The chase strategy is a tool used throughout many companies to meet the demand for their products. In this paper it will define what the chase strategy is. This paper will also identify 2-3 companies that might use the chase strategy. Finally this paper will list some of the challenges associated with using the chase strategy and why. The chase strategy is a tool used throughout many companies to meet the demand for their products. In this paper it will define what the chase strategy is. This paper will also identify 2-3 companies that might use the chase strategy. Finally this paper will list some of the challenges associated with using the chase strategy and why. The chase strategy is a tool used throughout many companies to meet the demand for their products. In this paper it will define what the chase strategy is. This paper will also identify 2-3 companies that might use the chase strategy. Finally this paper will list some of the challenges associated with using the chase strategy and why. The chase strategy is a tool used throughout many companies to meet the demand for their products. In this paper it will define what the chase strategy...
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...General Environment Forces The financial crisis and the way that the American people viewed the nation’s financial institutions are two major indirect forces that that Chase bank had to deal with. The financial crisis the US has been dealing with for the past 3 years and is still currently trying to overcome today was triggered in part by the United States banking system (Whitney, 2010); because of this there was a tremendous collapse of some of our major financial institutions, the bailout of banks by national governments, and a stock markets plummeting everywhere around us (Whitney, 2010) In many areas, the number of evictions, and foreclosures rose to insane heights; the housing market experienced a huge hit (Whitney, 2010). The financial crisis in 2007 is considered by many economists to be the worst since the Great Depression of 1930 (Pendery, 2009). It has contributed to the failure of many key businesses, the decline in consumer wealth, substantial financial assistances by the United States governments, and a significant decline in economic activity. (Baily, & Elliot, 2009) The cry out for assistance was heard, “President Bush, in a televised address Friday morning, said the nation's economy is at risk, adding he believed that Congress will move quickly on a bailout proposal.” "We've got a big problem," he said. (Ellis & Sahadi, 2008) Henry Paulson, Treasury Secretary, proposed an act which he believed would help alleviate some of the issues during this financial fallout...
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...autobiographies about an experience when both writers were being chased.Both writers include cultural influences on the setting to make it more clear what life was reallylike for them in their autobiographies. They also both dramatize the chase to make the story moreexciting. Yet, the two writers differ in what cultural setting their autobiographies are in and whatstyle they use to dramatize the chase.While these two autobiographies are rooted in culture, they both differ in what exactcultures the autobiographies nestle in. Rodriguez writes about life in a prominently poor Mexicanneighborhood. He describes many of its various aspects such as the “people … on the metalchairs … and beer” (paragraph 1), the “stucco and wood-frame homes” (paragraph 2), and the“neighborhood consisting mostly of Mexicans” (Paragraph 2). This poverty enriched land is sucha clash when viewed against the presumably middle class white community that Dillarddescribes. Her description of the suburbs in Pittsburgh seem less poverty stricken such as withthem leaving from houses (paragraph 4) and the clothes that the man that chases them wears(paragraph 10). She attaches no greatness or inadequacy about the homes which makes them justregular homes. She also addresses the man’s clothes that’s chases them as city clothes consistingof a suit and tire, which would stick out in Rodriguez’s...
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...On Monday, March 20, 2017, I, Officer B. McMillon, #135, of the Mansfield ISD Police Department while assigned to Legacy High School located at 1263 N. Main in Mansfield, Texas 76063. At Approximately 1:00 pm LHS student Kroner, Karlee W/F, d.o.b 01/27/2000 who said that on 02/23/2017 that her vehicle was struck from behind by another vehicle in the west student parking lot. Kroner said that on 02/23/2017 at about 3:00 pm she was leaving the school West parking lot when she was struck by another vehicle. Kroner said that she was sitting still waiting on her turn to turn onto the main road of travel when she was struck from behind. Kroner said that the driver of the car identified herself as Perciado, Vanessa H/F d.o.b 12/13/1993. Kroner said...
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...Irvin Whiteman ““A man always has two reasons for doing anything: a good reason and the real reason.” – J.P. Morgan J.. Morgan Attention To The Detail Contents Origin 1 EARLY YEARS AND FAMILY 2 Forcasting 2 political parties 3 buying property 4 Cash Consolidation 5 Origin JP Morgan is one of the most powerful bankers of his time. J.P. (John Pierpont) Morgan, who died in 1913. He financed railroads and helped organize U.S. Steel, General Electric and other major corporations during his time. He did alot and hadrto go threw a lot as well. The Connecticut native followed his wealthy father into the banking business in the late 1850s, and in 1871 formed a partnership with Philadelphia banker Anthony Drexel. His family was already established. He just added his way of doing thing when his time came along. In 1895, the firm was reorganized as J.P. Morgan & Company. Morgan used his powerful influence to help level out American financial markets during several economic crises. However, he faced criticism that he had too much power and was accused of manipulating the nation’s financial system for his own gain. I am not sure what he had to gain from doing so. He was already established and famous. Morgan spent a large portion of his wealth amassing a vast art collection. I see it as having a hobby that can generate a great profit the older it gets. EARLY YEARS AND FAMILY John Pierpont Morgan was born into a well known family from New England on April...
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