...------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- Debit card A debit card (also known as a bank card or check card) is a plastic card that provides the cardholder electronic access to his or her bank account/s at a financial institution. Some cards have a stored value against which a payment is made, while most relay a message to the cardholder's bank to withdraw funds from a designated account in favor of the payee's designated bank account. The card can be used as an alternative payment method to cash when making purchases. In some cases, the cards are designed exclusively for use on the Internet, and so there is no physical card.[1][2] In many countries the use of debit cards has become so widespread that their volume of use has overtaken or entirely replaced the check and, in some instances, cash transactions. Like credit cards, debit cards are used widely for telephone and Internet purchases. However, unlike credit cards, the funds paid using a debit card are transferred immediately from the bearer's bank account, instead of having the bearer pay back the money at a later date. Debit cards usually also allow for instant withdrawal of cash, acting as the ATM card for withdrawing cash and as a check guarantee card. Merchants may also offer cashback facilities to customers, where a customer can withdraw cash along...
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...V O L U M E 1 7 | N U M B E R 4 | FALL 2005 Journal of APPLIED COR PORATE FINANCE A MO RG A N S TA N L E Y P U B L I C AT I O N In This Issue: Executive Pay and Corporate Governance Pay Without Performance: Overview of the Issues A Remedy for the Executive Pay Problem: The Case for “Compensation Discussion and Analysis” Developments in Remuneration Policy Corporate Culture and the Problem of Executive Compensation Taking Shareholder Protection Seriously? Corporate Governance in the U.S. and Germany University of Rochester Roundtable on Corporate M&A and Shareholder Value 8 Lucian A. Bebchuk, Harvard Law School, and Jesse M. Fried, University of California at Berkeley 24 Jeffrey N. Gordon, Columbia University 36 Alastair Ross Goobey, International Corporate Governance Network and Morgan Stanley Europe 41 44 Arthur Levitt, Jr., The Carlyle Group Theodor Baums, University of Frankfurt, and Kenneth E. Scott, Stanford Law School and Hoover Institution 64 Panelists: Robert Bruner, University of Virginia; Cliff Smith and Gregg Jarrell, University of Rochester; James Owen, The Bank Street Group; Marla Sincavage, Ernst & Young; and Matt Ostrower, Morgan Stanley. Moderated by Mark Zupan, University of Rochester. Takeover Defenses and Bargaining Power Is U.S. CEO Compensation Broken? Top Management Incentives and Corporate Performance Letting Go of Norm: How Executive Compensation Can Do Better Than “Best Practices” Finance, Politics, and the Accounting...
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...Mergers and Acquisitions Basics Mergers and Acquisitions Basics All You Need To Know Donald DePamphilis Amsterdam • Boston • Heidelberg • London New York • Oxford • Paris • San Diego San Francisco • Singapore • Sydney • Tokyo Academic Press is an imprint of Elsevier Academic Press is an imprint of Elsevier 30 Corporate Drive, Suite 400, Burlington, MA 01803, USA Elsevier, The Boulevard, Langford Lane, Kidlington, Oxford, OX5 1GB, UK Copyright © 2011 Elsevier Inc. All rights reserved No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or any information storage and retrieval system, without permission in writing from the publisher. Details on how to seek permission, further information about the Publisher’s permissions policies and our arrangements with organizations such as the Copyright Clearance Center and the Copyright Licensing Agency, can be found at our website: www.elsevier.com/permissions. This book and the individual contributions contained in it are protected under copyright by the Publisher (other than as may be noted herein). Notices Knowledge and best practice in this field are constantly changing. As new research and experience broaden our understanding, changes in research methods, professional practices, or medical treatment may become necessary. Practitioners and researchers must always rely on their own experience and knowledge...
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...Introduction to Centaur Partners SaaS Market Overview Centaur Partners Mergers & Acquisitions, Private Placement Advisory, and Transaction Consulting May 2015 CONFIDENTIAL – NOT FOR DISTRIBUTION © 2015, Centaur Partners │Confidential | Technology Market Overview IT Storage IT Infrastructure NASDAQ Composite IT Security BigData 160 SaaS Internet Digital Media 150 140 130 120 12% 110 100 90 80 5/7 6/7 7/7 8/7 9/7 10/7 11/7 12/7 1/7 2/7 3/7 4/7 IT Security SaaS Internet/Digital Media NASDAQ Big Data IT Infrastructure 43% 31% 25% 23% 6% 5/7 4% Source: CapIQ 5/4/15 IT Security Index: AVG, SYMC, CHKP, FTNT, PANW, FIRE, IMPV, VDSI, PFPT, FEYE, QLYS SaaS Index: CRM, N, ATHN, ULTI, JCOM, TRAK, BCOV, DWRE, GWRE, LOGM, CTCT, CSOD, LPSN, MKTG, VOCS, IL, TNGO, SPSC, SQI, ZIXI, ELLI, NOW, WDAY, MDSO, LOCK, FLTX, QLYS, RALY, MKTO, MRIN, MODN Big Data Index: EMC, TDC, INFA, MSTR, SPLK, DWCH, ATTUF, NTAP, SPLK, DATA, FIO, FALC Internet & Digital Media: 66 companies IT Infrastructure Index: VMW, CTXS, NTAP, CA, RHT, SWI, INFA, OTEX, CVLT, CPWR, QLIK, PEGA, MVSN, PRGS, JIVE, NTCT, BLOX, GUID, MGIC, FALC, FIO, GIMO, SSNI, CYNI, RALY © 2015, Centaur Partners │Confidential │ 2 Technology M&A Trends Key M&A Statistics Technology M&A – Transactions Since 2006 Number of Transactions 2,400 2,000 $165 1,600 1,441 $166 $150 1,281 1,216 1...
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...STRATEGIC MANAGEMENT TEXAS EXECUTIVE MBA PROGRAM FALL 2011 Professor David B. Jemison CBA 3.232 Telephone 471-8757 David.Jemison@mccombs.utexas.edu Texts: Porter, Michael E. Competitive Strategy. (New York: Free Press, l998). Course Description Perspective and Themes This course is about the creation and maintenance of a long-term vision for the organization. This means that it is concerned with both the determination of strategic direction and the management of the strategic process. As such, it deals with the analytical, behavioral, and creative aspects of business simultaneously. The course is organized around six themes in strategic management: the role of the general manager, the components of business strategy, corporate strategy development, divisional-level strategy development, managing strategic change, and the development of general managers. Our perspective in this course is that of the leader whose responsibility is the long-term health of the entire firm or a major division. The key tasks involved in general management include the detection of and adaptation to environmental change; the procurement and allocation of resources; the integration of activities across subparts of the organizations; and, at the most senior levels, the determination of purpose and the setting of corporate direction. General managers, from our perspective, are managers who are in the position to make strategic decisions for the firm. Note that such...
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...Note from the Authors: “Creative Entrepreneurship” was born out of the desire, want and curiosity of kbs+’s staff to understand the crazy world of entrepreneurship. “Creative Entrepreneurship” curates the perspectives of leading entrepreneurs and venture capitalists as a guide for people interested in learning more. Each writer graciously contributed their work to create a curated resource for creative entrepreneurs. This book is the teaching and inspirational aid for our kbs+ Ventures Fellows – a highly select group of kbs+ staffers from all levels and areas of the agency – who go through a six-month educational program to immerse themselves in the startup and venture capital world. Share this entrepreneurial inspiration with friends using @kbspvc or #kbspvcbook. If you would like to share any inspiration, thoughts or feedback, please contact us at @kbspvc anytime – we look forward to hearing from you. Thank you for downloading our book! Darren Herman Taylor Davidson Creative Entrepreneurship Darren Herman Taylor Davidson a kbs+ partner We have received explicit permission from all authors of the works found in this book. Unless otherwise stated, we do not claim to have written or own any of this work. We are purely aggregating it into a simple book format for the education of anyone who picks up this book. The price of this book is free; if anyone tries to sell this book to you, please report them to us. Hopefully this book inspires you as much as it does...
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...VMWARE, INC. FORMReport) 10-K (Annual Filed 02/28/11 for the Period Ending 12/31/10 Address Telephone CIK Symbol SIC Code Industry Sector Fiscal Year 3401 HILLVIEW AVENUE PALO ALTO, CA 94304 (650) 427-5000 0001124610 VMW 7372 - Prepackaged Software Software & Programming Technology 12/31 http://www.edgar-online.com © Copyright 2011, EDGAR Online, Inc. All Rights Reserved. Distribution and use of this document restricted under EDGAR Online, Inc. Terms of Use. Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2010 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number 001-33622 VMWARE, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 3401 Hillview Avenue Palo Alto, CA (Address of principal executive offices) (650) 427-5000 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Class A Common Stock, par value $0.01 New York Stock Exchange Securities registered pursuant to section 12(g) of the Act: None Indicate by a check mark if the registrant is a well-known seasoned...
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...Breakout Strategy Meeting the Challenge of Double-Digit Growth Sydney Finkelstein Charles E. Harvey Thomas C. Lawton (McGraw-Hill, New York, 2006) Table of Contents Dedication Acknowledgements Table of Contents List of figures Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Breakout Strategy Getting on the Fast Track Staying out Front Breakout Dynamics Putting Vision to Work Being a Magnet Company Delivering the Promise Executing Breakout Breakout Leadership Appendix: case study companies Index List of Figures Figure 1.1 Figure 2.1 Figure 3.1 Figure 4.1 Figure 5.1 Figure 5.2 Figure 5.3 Figure 5.4 Figure 5.5 Figure 6.1 Figure 6.2 Figure 6.3 Figure 6.4 Figure 7.1 Figure 7.2 Figure 7.3 Figure 8.1 Figure 8.2 Figure 8.3 Figure 9.1 The Breakout Strategy Cycle Companies Getting on the Fast Track Companies Staying Out Front Types of Capital and the Capital Accumulation Process The Vision Wheel State Transition for Harley-Davidson: Organization State Transition for Harley-Davidson: Culture State Transition for Harley-Davidson: Relationships State Transition for Harley-Davidson: Markets The Six Pillars of a Value Proposition Leveraging up the Apple Value Proposition Reconciling Different Value Propositions Leveraging up Samsung Electronics’ Value Proposition Components of a Business Model Aligning the Business Model and Value Proposition Business Model Needs Analysis Delivering Strategy System Balance and Strategy Delivery at...
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...THE INTELLIGENT INVESTOR A BOOK OF PRACTICAL COUNSEL REVISED EDITION B E NJAM I N G RAHAM Updated with New Commentary by Jason Zweig To E.M.G. Through chances various, through all vicissitudes, we make our way. . . . Aeneid Contents Epigraph iii Preface to the Fourth Edition, by Warren E. Buffett viii A Note About Benjamin Graham, by Jason Zweig x Introduction: What This Book Expects to Accomplish COMMENTARY ON THE INTRODUCTION 1. 1 12 35 The Investor and Inflation 47 COMMENTARY ON CHAPTER 2 3. 18 COMMENTARY ON CHAPTER 1 2. Investment versus Speculation: Results to Be Expected by the Intelligent Investor 58 65 COMMENTARY ON CHAPTER 3 4. A Century of Stock-Market History: The Level of Stock Prices in Early 1972 80 General Portfolio Policy: The Defensive Investor 88 COMMENTARY ON CHAPTER 4 5. 101 124 Portfolio Policy for the Enterprising Investor: Negative Approach 133 COMMENTARY ON CHAPTER 6 7. 112 COMMENTARY ON CHAPTER 5 6. The Defensive Investor and Common Stocks 145 iv 155 COMMENTARY ON CHAPTER 7 8. Portfolio Policy for the Enterprising Investor: The Positive Side 179 The Investor and Market Fluctuations 188 v Contents COMMENTARY ON CHAPTER 8 9. Investing in Investment Funds COMMENTARY ON CHAPTER 9 213 226 242 10. The Investor and His Advisers 257 COMMENTARY ON CHAPTER 10 272 11. Security...
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...tly A sk ed Fr equen in s Question orporate C FinanCe io, a llocch ur izio D uiry, M a lv i Pa sc a l Q tonio Sa Le Fur , A n Ya nn From the team behind Pierre Vernimmen’s % = Corporate FinanCe + 3 Frequently Asked Questions in Corporate Finance Frequently Asked Questions in Corporate Finance Pierre Vernimmen, Pascal Quiry, Antonio Salvi, Maurizio Dallocchio and Yann LeFur A John Wiley & Sons, Ltd., Publication This edition first published in 2011 Copyright 2011 Pierre Vernimmen Registered office John Wiley & Sons Ltd, The Atrium, Southern Gate, Chichester, West Sussex, PO19 8SQ, United Kingdom For details of our global editorial offices, for customer services and for information about how to apply for permission to reuse the copyright material in this book please see our website at www.wiley.com The rights of Pierre Vernimmen, Pascal Quiry, Antonio Salvi, Maurizio Dallocchio and Yann LeFur to be identified as the authors of this work have been asserted in accordance with the Copyright, Designs and Patents Act 1988. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, except as permitted by the UK Copyright, Designs and Patents Act 1988, without the prior permission of the publisher. Wiley publishes in a variety of print and electronic formats and by print-on-demand. Some material included with...
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...Finance Course: Corporate Finance MBA−10 California College for Health Sciences MBA Program McGraw-Hill/Irwin abc McGraw−Hill Primis ISBN: 0−390−55204−6 Text: Harvard Business School Entrepreneurship Cases Corporate Finance, Seventh Edition Ross−Westerfield−Jaffe Harvard Business School Finance Cases This book was printed on recycled paper. Finance http://www.mhhe.com/primis/online/ Copyright ©2005 by The McGraw−Hill Companies, Inc. All rights reserved. Printed in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without prior written permission of the publisher. This McGraw−Hill Primis text may include materials submitted to McGraw−Hill for publication by the instructor of this course. The instructor is solely responsible for the editorial content of such materials. 111 FINAGEN ISBN: 0−390−55204−6 Finance Contents Ross−Westerfield−Jaffe • Corporate Finance, Seventh Edition I. Overview 1 1 20 34 34 35 70 98 130 152 152 193 219 219 241 241 275 1. Introduction to Corporate Finance 2. Accounting Statements and Cash Flow II. Value and Capital Budgeting Introduction 4. Net Present Value 5. How to Value Bonds and Stocks 7. Net Present Value and Capital Budgeting 8. Risk Analysis, Real Options, and Capital Budgeting III: Risk 10. Return and Risk: The Capital−Asset−Pricing...
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...The media’s watching Vault! Here’s a sampling of our coverage. “For those hoping to climb the ladder of success, [Vault’s] insights are priceless.” – Money magazine “The best place on the Web to prepare for a job search.” – Fortune “[Vault guides] make for excellent starting points for job hunters and should be purchased by academic libraries for their career sections [and] university career centers.” – Library Journal “The granddaddy of worker sites.” – U.S. News & World Report “A killer app.” – The New York Times One of Forbes’ 33 “Favorite Sites.” – Forbes “To get the unvarnished scoop, check out Vault.” – SmartMoney Magazine “Vault has a wealth of information about major employers and job searching strategies as well as comments from workers about their experiences at specific companies.” – The Washington Post “A key reference for those who want to know what it takes to get hired by a law firm and what to expect once they get there.” – New York Law Journal “Vault [provides] the skinny on working conditions at all kinds of companies from current and former employees.” – USA Today Customized for: Mian Badr (mian.iftikhar@studbocconi.it) Customized for: Mian Badr (mian.iftikhar@studbocconi.it) VAULT CAREER GUIDE TO MIDDLE MARKET INVESTMENT BANKING JOE BEL BRUNO AND THE STAFF OF VAULT Customized for: Mian Badr (mian.iftikhar@studbocconi.it) Customized for: Mian Badr (mian.iftikhar@studbocconi.it) Copyright © 2009 by Vault.com, Inc. All rights reserved....
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...Annual report 2013 Looking forward to the future Dear Fellow Stockholder, move ahead of our peers. This unique culture allows us to attract and keep the best leaders and talent because it provides opportunities to grow and take on new challenges. That spirit will remain a cornerstone for us, to the benefit of our viewers, colleagues and investors. Shareholders of 21st Century Fox will see value driven by a commitment to bring consumers across the globe the very best stories in film and television, the greatest moments in sports, unrivaled TV news coverage, and an array of satellite products and services that deliver Rupert Murdoch, Chairman & Chief Executive Officer, 21st Century Fox the world like never before. Our potential to expand our franchises outside the U.S. is limitless, and, with many international markets still in their infancy, largely untapped. It is through this lens – dynamic content, global reach and entrepreneurial culture – that we view both the foundation and future of 21st Century Fox. While I’m not one to look back, the past 12 months have made me especially proud. At the same time, our prospects for the next 12 months and beyond are as bright as ever. The following review of our cable business, sports programming, broadcast network, film and television assets and satellite services is a snapshot of the strong foundation we have built over the years, which will serve us well as we focus on the opportunities that lie ahead. Business Segment Overview...
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...Time Warner Cable 200 8 A N N U A L R E PO R T Time Warner Cable is the second-largest cable operator in the U.S. and a major provider of communications and entertainment services to homes and businesses. Our technologically advanced, well-clustered operations serve about 14.6 million customers in 28 states, with our largest operations located primarily in five geographic areas: New York State (including New York City), Texas, Ohio, the Carolinas and Southern California (including Los Angeles). Time Warner Cable is built on a foundation of technological innovation and commitment to the communities we call home. VIDEO • Time Warner Cable offers packages of ff cable channels to fit a wide variety of budgets. With Digital Cable, customers have access to more than 200 channels, On Demand, parental controls and optional DVR service. • Time Warner Cable’s Digital Cable is the “Home of Free HD.” Our highdefinition service delivers the best fi HD channels and HD On Demand. • On Demand gives customers thousands of viewing choices instantly, with new movies, shows and sporting events added every day—many in HD. • Start Over® is an Enhanced TV feature that lets viewers restart a program already in progress, at the push of a button, even if they haven’t programmed their DVR. HIGH-SPEED DATA • Road Runner High-Speed Online delivers a blazing-fast Internet connection with speeds up to three times faster than standard DSL packages. • Security Suite comes with every subscription and delivers...
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...More Praise for the Second Edition of Mergers & Acquisitions from A to Z ‘‘Sherman and Hart have done a terrific job assembling and synthesizing the basic, yet critical, issues to be aware of before/during/ after the deal. A well-rounded, up-to-date primer filled with pragmatic information that will serve as an excellent reference regardless of the reader’s M&A experience.’’ —Edward J. Hayes, Jr. Executive Vice President and Chief Financial Officer Quantum Corporation ‘‘After reading Andrew’s book, it became clear that his insight and processes assist entrepreneurs looking to expand their businesses. Andrew’s book offers guidance for non–U.S.-based businesses considering mergers and acquisitions in the United States.’’ —Nancye Miller, CEO, EO The Entrepreneurs’ Organization ................. 11539$ $$FM 10-19-05 09:48:09 PS PAGE i This page intentionally left blank PAGE ii MERGERS & ACQUISITIONS F ROM A SECOND TO Z EDITION Andrew J. Sherman and Milledge A. Hart American Management Association New York • Atlanta • Brussels • Chicago • Mexico City • San Francisco Shanghai • Tokyo • Toronto • Washington, D.C. ................. 11539$ $$FM 10-19-05 09:48:11 PS PAGE iii Special discounts on bulk quantities of AMACOM books are available to corporations, professional associations, and other organizations. For details, contact Special Sales Department, AMACOM, a division of American Management Association, 1601...
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