...Deans Foods Company, NYSE: DF Securities Analysis Professor: Paul Tovbin Keller University By: Roy Gavra 12/14/2012 Table of content The background of Deans Foods Company with a life cycle analysis……………..…………….3 Return on Equity……………………………………………………………………………….…4 Deans Foods Company projected future growth rate of earnings…………………………………5 An analysis of its required rate of return using the CAPM measurement………………………...5 Deans Foods Company intrinsic value using the discount valuation techniques…………………6 Refernces………………………………………………………………………………………….7 The background of Deans Foods Company with a life cycle analysis According to Reuters Dean Foods Company, incorporated in 1994. The stock is traded in the New York Stock Exchange (NYSE) under the symbol DF. As of December 14th 2012 the stock value is $16.46. The company is a food and beverage company. Dean Foods Company operates through two segments: Fresh Dairy Direct-Morningstar and WhiteWave-Alpro. Dean Foods Fresh Dairy segment is domestically processor and distributor of dairy products, the company sells its products through over 50 local and regional brands. Also, the company sells it product under range of private labels. The WhiteWave-Alpro segments emphasis Soy based products, the WhiteWave-Alpro very active in the International markets as well. When assessing the company life cycle stage will look on the industry and on the company performance. The recession proof industry is it in Maturity stage, with...
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...DEAN FOODS I- Measuring Riskfree Rate Companies in the USA: Treasury Bill Rate analysis and government bond rate for long term analysis Rj=Rf+βRm-Rf β=0.91 Rf=10 year US Treasury rate the risk free rate=0.039 Rm= 0.028 1. Rj=0.039+0.910.028-0.039=0.02899 or 28.99 % II- Risk Regression A. How well or badly did your stock do, relative to the market, during the period of the regression? Intercept-Riskfree Raten1-β=Jensen'sAlpha Dean Food: Monthly: -0.004-0.00325601-0.91=-0.00401 Annually: -0.004-0.039601-0.91=-0.004059 B. What proportion of the risk in your stock is attributable to the market? What proportion is firm-specific? R2 of Regression=0.6745 or 67,45% suggests that 67,45% of the risk in Dean Food comes from market sources and that the balance of 32.55% come from firm-specific components Firm-specific=1-0.6745=0.3255 C. Annualize the required return on your stock. Riskless Rate+β×Risk Premium Rj=0.039+0.915%=0.0845 Or 8.45% III- Estimating a Bottom up Beta Bottom-up unlevered beta=Current beta1+1-tax rateAverage debtEquity Tax US = 35 % Beta = 0.91 Deb/Equity = 0.53 Bottom-up unlevered Beta = 0.911+1-35%0.53 = 1.04 IV- Estimating a Cost of Debt An interest coverage ratio EBITInterest Expense=13,734,0003,058,000,000 = 4.49 A synthetic rating for Dean Foods 4.25 < 4.49 < 5 therefore rating is A C.A pre-tax cost of debt for your firm Dean Food’s...
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...Company Analysis Dean Foods I. INTRODUCTION Dean Foods has been in the milk industry since 1925, and has acquired over 40 industries to become the leading milk industry in the United States. The company has had success over the years especially when it moved into producing organic and soy products. However, since the economic downturn in 2008 Dean Foods has struggled financially. The company clings to its strong strategic management abilities and new strategic, operational, and financial objectives set in 2010 to get the company through the faltering economic conditions in the US. II. STRATEGIC MANAGEMENT 2.1 Overview Dean Foods is one of the leading food and beverage companies in the United States and a European leader in branded soy foods and beverages. The Company's Fresh Dairy Direct-Morningstar segment is the largest U.S. processor and distributor of milk, creamer, and cultured dairy products. These offerings are marketed under more than 50 local and regional dairy brands, as well as through private labels. The White Wave-Alpro segment produces and sells an array of branded dairy, soy and plant-based beverages and foods. White Wave brands, including Silk® soy and almond milk, Horizon Organic® milk and dairy products, International Delight® coffee creamers, and LAND O'LAKES® creamers, are category leaders and consumer favorites. Alpro is the pan-European leader in branded soy food products. Its products are processed with the help of 27,000 employees working in...
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...Working with the director of the Swiss film production company for the past eighteen months, she could not help but admit to herself that producing films in fact entailed running around to find and structure the financing, and endless arguments with distribution companies, and constantly making deals that did not stick. Even the glamour of participating in the annual rituals at the Cannes Film Festival somehow did not compensate for all the superficiality that she had discovered the film business entailed. The ringing phone interrupted her reflections. Her first thought was, “I hope it‟s not the Director calling back to change my mind!” The voice of the caller was vaguely familiar, “Katrin, this is Trevor Johnson, surely you do remember – the Dean from BSL (Business School Lausanne), you called me Dr. Johnson? Well, to cut a long story short, I...
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...Working with the director of the Swiss film production company for the past eighteen months, she could not help but admit to herself that producing films in fact entailed running around to find and structure the financing, and endless arguments with distribution companies, and constantly making deals that did not stick. Even the glamour of participating in the annual rituals at the Cannes Film Festival somehow did not compensate for all the superficiality that she had discovered the film business entailed. The ringing phone interrupted her reflections. Her first thought was, “I hope it‟s not the Director calling back to change my mind!” The voice of the caller was vaguely familiar, “Katrin, this is Trevor Johnson, surely you do remember – the Dean from BSL (Business School Lausanne), you called me Dr. Johnson? Well, to cut a long story short, I...
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...IPB International Convention Center in Bogor on 6 September 2013. The Seminar was themed “Food, Climate Change, and Globalisation: In the Perspective of International Diplomacy”. While giving his keynote address, Dr. Makarim Wibisono pointed out that there was a need to consider the implication that current activities would have for future generations. “The ecosystems are under stress and the human appetite for resources keeps growing,” he said. Therefore, he continued, it was extremely important to pursue development in ways that used resources judiciously and protected key environmental systems. In this case, university could play a significant role to raise awareness of the fundament of climate change that, if wrongly treated, could pose a threat to food security. In this context, university could coordinate reviews of the scientific evidence on the links between climate change and food and develop a research agenda. The Seminar was moderated by Prof. Dr. Ir. Ahmad Sulaeman, M. S., the Vice Dean of the Faculty of Human Ecology. Three commentators included Prof. Dr. Ir. Hardinsyah, M.S., Prof. Dr. Ir. Ujang Sumarwan, M.Sc., and Dr. Soeryo Adiwibowo. The Seminar was participated by academic community of the IPB, representatives of civil societies, representatives of government agencies, and private sector. Invitation to Dr. Makarim Wibisono was received from Dr. Arif Satria, the Dean of Faculty of Human...
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... * Work as a strong team within each Core, across Cores and throughout the community. * Encourage and facilitate collaboration across our three Cores. * Actively participate in Program Office, Career Services, C4C, and other community initiatives. * Periodically represent Marshall as a Senator during USC Graduate Student Government (GSG) monthly meetings. * Periodically represent your core during Marshall Graduate Student Association (MGSA) meetings. * The average time commitment is 3-5 hours per week, but can be more or less depending on special events. Primary Responsibilities of Individual Core Representative Positions Academic Core Rep * Act as primary point of contact for Core Faculty, Administration (Dean Fraser and Janella Chiang), and MGSA VP Academics (currently Aaron Chaum). * Collaborate regularly with Core Faculty, Administration, and MGSA VP Academics. * Facilitate constructive communication among students, Core Faculty, and Administration. * Collect and communicate constructive student feedback for Core Faculty and Administration. * Discuss and elevate academic questions and/or concerns to Core Faculty and Administration. * Organize and maintain calendar of assignments. * Organize creation and distribution of faculty approved study...
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...A GROUP ASSIGNMENT REPORT TO Develop an Induction Program for New Recruits (faculty members joining) BITS Pilani, Pilani Campus By GROUP - 2 C.V.R.SRI HARSHA NEELESH PILLA S.SIVA NAGENDRA K.DINESH VENKAT NIKITHA ANNE 2014H149223P 2014H149262P 2014H149284P 2014H149229P 2014H149283P Master of Business Administration Birla Institute of Technology and Science – Pilani CONTENTS TOPIC 1. Introduction 2. Schedule and Implementation Details 3. Budget 4. Appendix 1(Checklist) 5. Appendix 2(Feedback Form) 6. Appendix 3(Map) 7. Conclusion PAGE No: 1 1 6 7 8 10 10 BITS PILANI, Pilani Campus‐FACULTY INDUCTION PROGRAM‐2014 INTRODUCTION: The Induction program for new recruits (30 faculty members joining) BITS Pilani, Pilani Campus has been designed so as to support their growth and professional development. It is scheduled for three days, each having four slots. The structure of the Induction Program follows a “10-Point Program”, which involves these 10 points as the integral part of Schedule and implementation details. Introduction to BITS Pilani Review of important policies and practices Overview of benefits and services Enrollment in benefit plan Completion of various documents Statement of employer expectations Discussion of Organization programs Introduction to co-workers Tour of facilities Support on the job SCHEDULE AND IMPLEMENTATION DETAILS: DAY1 (DD/MM/YYYY): FACULTY REGISTRATION PROGRAM: TIMINGS 9.00AM-11.15 AM MORNING SLOT 11.30 AM-1.15...
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...The University Art Museum Case Analysis Suzana Duran MNGT 372 Professor Quimei Xu I. Relevant Facts/Background The Art Museum is a building on the university premises that is providing a place for the art collection of a university. The building was given to the university by an alumnus around 1929. The wealthy son of the university's first president served as the museum's unpaid director until his death. He brought a few extra collections to the museum during his service, and while serving as unpaid director, none of the collections was ever shown to anybody except a few members of the university's art history faculty. The university practically gave the position to amateur art supporter, Miss Kirkoff, after the director’s death. She used museum for academic purposes for the university alumni only. Miss Kirkoff cataloged the collections and carried out new gifts. The museum was remodeled to include an auditorium, library, and classrooms. The University Art Museum’s director, Miss. Kirkoff resigned after almost 50 years of working there. In September of 1998 new directorship has been passed on. New director used museum as community resource by which he meant that is open to everyone not just to the students at the university. That was the big problem for the students and the faculty at the University Art Museum. Classes and exhibitions lost interest with the students, and the last director was let go after three years of service. II. Problem Definition-Issues The...
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...involves Maluvius University, AADSB (American Association of departments and schools of Biology) and the visiting committee deans. The case presents issues of “Saying things you know are not true”, “Giving or allowing false impressions”, “Buying influence or engaging in conflict of interest”, “Hiding or Divulging information”, “Violating rules”, “Condoning unethical actions”, and “Balancing ethical dilemmas.” The dean of the Biology department at Maluvuis University is trying to get the University’s biology department in one of the top 40 biology departments in the country. It was accredited before and needs not to be accredited once every ten years. The deciding association which does the accreditation is AADSB (American Association of departments and schools of Biology). The process consists of submitting documents by the University and an in-department visit by the panel of Biology deans. The most important deciding factor for accreditation is the ratio of full-time faculty to part-time faculty. The dean of the Maluvius University plays an important role in University matters and therefore would have a great influence over the accreditation of the Biology department. Having the knowledge of the fact that there are more adjuncts teaching than AADSB (American Association of departments and schools of Biology) would like to see at the University, the dean is “hiding or divulging information” i.e. failing to disclose the fact that the ratio of full-time to part-time faculty...
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...Khfsda fsjlf dslkjf dslk dskl;f dslkf lkds fdlks f Dskf dsklf ds Lkf dslfkj dsflkj Ds fljkds fljds fljkd flkjd fkdl kld fklds fkld k Kfd Fld fljds fd D fldjs fldsjkf df Fd Gfsd Gf Sg Sf Gfs G S G Fsr G Fsrg Fs G Sf G Fs Gf Sg Fs G Fs G Sf G Fs G Fsg Sf G Sf G Sfg Sf Gfs G Sf Gfs G Fsg Sf Gfs Gfs G Sfg Sfg Fs Gfs Gfs Gfs G Fsg Dsfg fsbKhfsda fsjlf dslkjf dslk dskl;f dslkf lkds fdlks f Dskf dsklf ds Lkf dslfkj dsflkj Ds fljkds fljds fljkd flkjd fkdl kld fklds fkld k Kfd Fld fljds fd D fldjs fldsjkf df Fd Gfsd Gf Sg Sf Gfs G S G Fsr G Fsrg Fs G Sf G Fs Gf Sg Fs G Fs G Sf G Fs G Fsg Sf G Sf G Sfg Sf Gfs G Sf Gfs G Fsg Sf Gfs Gfs G Sfg Sfg Fs Gfs Gfs Gfs G Fsg Dsfg Fsbd Bhf S D D Deg Sg Ds/g Dsg Dsg Ds/g Dsg Dsg Dsg Ds/g Ds/g Ds/g Ds/ g/d egds g dsg ds gds gds g fsg frs r tgs rg seg erg er g saer gs reg saer greger gser g erg re ger g er g er g sre rIn this project the UNIVERSITY MANAGEMENT SYSTEM (UMS) makes the management to get the updated information. this system includes the three functional divisions they are University administrator College administrator User (student / faculties). UNIVERSITY ADMINISTRATOR has the functionality of registering new colleges and courses. COLLEGE ADMINISTATOR includes the creating department, course for each department, for each subject you should have to allocate a faculty. USER in this project the USER includes the two either lecturer or student. The faculty will enter the attendance...
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...UNI UNIVERSITY AND ITS NEW ERP SYSTEM 1) This case illustrates the complexity of the relationship between technology and organization in the context of knowledge work. Some famous theories, indeed, demonstrate that there are important, complex and reciprocal causal relationship between these two aspects to the extent that different type of technologies can be associated with different form of organizations (Woodward). When you decide to introduce a new technology system in your organization you can’t think that it will carry automatically positive changes because it is difficult to predict in advance the outcomes of this type of implementation. The way technology is used and its efficiency depend on complex interactions between technology, organizations, users and context: individuals and groups can enact the same technology in different ways. This is the reason way the role of human agency in accomplishing technologies is so important. You have to plan this change, you have to manage it and you have to communicate with employees, explaining them how and why the change will be implemented. 2) The major problem was the lack of a correct communication between Uni and ConsultCo: they, initially, aimed to achieve the same goal sharing their skills but they misinterpreted their partnership agreements. Uni wanted to develop a system compatible with its...
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...ceremonies in 2014 and monthly chapter meetings. A full slate of officers was elected including a president, vice president, treasurer, and secretary. The Treasurer submitted both the annual and financial reports on time, and the chapter had no outstanding debt. Additionally the Delta Mu Delta Lambda Sigma Chapter participated in the national scholarship program, increased their membership, and completed a community service event. The chapter plans to continue to support the national programs and increase membership into 2015. Chapters earning the Star Award status receive a $50 gift card from the national office and are presented with an appropriate certificate of achievement. A recognition letter is sent to the Dean of the Business College, Dean of Students, Academic Officer, and the President of the University. In addition an article will be published in the subsequent edition of the The Vision, the national newsletter. Every Star Chapter is recognized at the next Biennial National Meeting. “The officers and members are very proud to have earned this award. Only 15% of chartered chapters nationally earn the Star Award,” said President Carolyn Brandenberger. For additional information on the national Delta Mu Delta organization please visit the national website at: http://deltamudelta.org/ For additional information on the local Delta Mu Delta Lambda Sigma chapter please visit our Facebook account at:...
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...1. reparation and planning:- Dean Markin had engineered an organizational change that moved Dr. Forester from one department to another. There was an ideological difference among all the players in this scenario. 2. Definition of ground rules:-In Mr. Markin´s officethere will take place a meeting where both parts will expose their points of view like in a debate, both oarties have to respect each others time to speak and listen carefully. 3. Clarification and justification:- Both parties will show evidence, 4. Bargaining and problem solving :- Dr. Marino was in a difficult situation. However, the frustration expressed by Dr. Forester had not yet escalated to a complex or crisis situation. Careful preparation would be essential for a follow-up conversation and continu- ing reinforcement of the balance between Dr.Forester’s expectations and departmental expec- tations. These conversations should demonstrate a positive attitude, be brief and clear, and acknowl- edge Dr. Forester’s past accomplishments and fu- ture value. 5. Closure and Implementation:- Dr. Marino should have considered the benefits or problems that may evolve from the following possible outcomes: Dr. Forester may resign. – Dr. Forester may circumvent Dr. Marino and petition Dean Markin for support. – Promotion and tenure guidelines may change.The expectations of the leadership, the faculty, and the faculty managers must be clear to all parties so that the sources of conflict will be minimized. The...
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...On June 21 of 2010 in San Diego, CA the Chairman and CEO of Dalrada Financial Corporation received one of the highest professional honors in the networking community. PR newswire reported that the honorary Lord of Wilcrick, Cardiff, Wales in the United Kingdom was one of two male members from his discipline to be named executive of the year. This year's honorees were selected based on their performance over their entire professional career and the previous calendar year. The accomplishments of Bonar were great in the fields of leadership, his academic achievements, and his professional accomplishments. Bonar received his BSC and mechanical engineering from Glasgow Scotland’s Strathclyde University, Glasgow Scotland. After that he received his MBA and PhD from Staffordshire University in the UK. While studying there he earned his graduates in the field of International Business Development. Previously, Bonar has held countless executive, chairman and the other leadership positions across America, Europe and Asia. Mr. Bonar able to provide financial advice and is affiliated with the American Finance Association. Currently, Bonar serves as Chairman & Chief Executive Officer at The Amanda Co., Inc., Chairman, President, CEO, CFO & Secretary at Trucept, Inc., Co-President at Allegiant Professional Business Services, Inc., and the President & Chief Executive Officer at Smart-tek Automated Services, Inc.. In addition, to his professional and academic accomplishments Bonar serves on...
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