... The yield on investments by the pre-need companies cannot cope up with the tuition fee increases. Consequently, pre-need companies incurred deficiency in their trust fund. 5. Independent Trustee Some of the pre-need companies' trustee were affiliates. Pacific Plans' trustee is RCBC, both are under the Yuchengco Group of Companies. CAP's trustee is Bank of Commerce, both have Sobrepeña affiliation. Ayala Plans trustee is BPI, both under Ayala Corporation, Philam Plans trsustee is Philam Savings. Cocolife trustee is UCPB; and First Union's trustee is Union Bank. There is a possibility that a collusion between these two related companies may occur. Excerpts from Congressional Planning and Budget Department House of Representatives: Collusion between pre-need companies and their affiliates could result in possible diversion of the trust fund into business ventures other than the intended investment specified by the SEC. In 2005, Senator Serge Osmena, during committee hearings, mentioned about CAP and PPI impropriety in handling their trust fund. Specifically, he pointed to the questionable investment of CAP in its affiliates company such as the Fil-Estate Management, Inc (FEMA) and PPI appointment of Rizal commercial Banking Corporation (RCBC) as its trustee bank. Likewise, Atty. Maricel Lopez, counsel for CAP planholders accused CAP’s executives of diverting P25 billion of its trust funds to its affiliated...
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...Motivation in today's workplace: the link to performance. ABSTRACT In today's hyper-competitive marketplace, understanding what fosters and forwards employee motivation--and, thus, organizational performance--is critical. Based on theories, studies, best practices, case studies and resources about motivation, this solutions-focused research article presents valuable information for the senior HR leader seeking competitive advantage. ********** Introduction In today's marketplace, where companies seek a competitive edge, motivation is key for talent retention and performance. No matter the economic environment, the goal is to create a workplace that is engaging and motivating, where employees want to stay, grow and contribute their knowledge, experience and expertise. Motivation is generally defined as the psychological forces that determine the direction of a person's level of effort, as well as a person's persistence in the face of obstacles. The direction of a person's behavior refers to the many possible actions that a person could engage in, while persistence refers to whether, when faced with roadblocks and obstacles, an individual keeps trying or gives up. (1) The responsibility for motivation is three-fold: it falls on the senior leadership, the direct manager and the employee. Numerous factors are involved, from trust, engagement and values (individual and organizational) to job satisfaction, achievement, acknowledgement and rewards. Motivation...
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...end up like Ben and Jerry’s, where soon after a multinational acquired it, key facets of its social mission were cut from the company.2 Ben & Jerry’s Homemade, Inc. was once the darling of proponents of social enterprise and social entrepreneurship.3 It was a for-profit corporation that seemingly did not put profits first. Rather, it pursued, in the parlance, a “double bottom” line, seeking to advance progressive social goals, while still yielding an acceptable financial return for investors. It advanced its social mission in many ways, such as by committing 7.5% of its profits to a charitable foundation; conducting in-store voter registration; and buying ingredients from suppliers who employed disadvantaged populations.4 Ben & Jerry’s founders, Ben Cohen and Jerry Greenfield, held out their double bottom line approach (they called it the “double-dip”) as a model for others who wished to “Lead With [their] Values and Make Money, Too.”5 * Professor of Law at Indiana University School of Law—Indianapolis. ** Professor of Law at Indiana University School of Law—Indianapolis and Professor of Philanthropic Studies at the Indiana University Center on Philanthropy. † Thanks to the organizers of the symposium “Corporate Creativity: The Vermont L3C & Other Developments in Social Entrepreneurship,” and the editors of this Article: Merrill Bent, Emily Montgomery and Sofia Yazykova at the Vermont Law Review. Thanks also to research assistants Jonathan Lund and Phillip Triplett. 1. BEN COHEN...
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...University of Technology 168 Jifeng E. Rd. Wufeng District Taichung 41349, Taiwan Abstract Martha Stewart places her name on her products. She becomes the face of her company and the voice of her brand. When her personal misconduct occurred, she made her company vulnerable and risky as well. This casestudy examines how Martha Stewart managed her corporate communication when her public image and reputation were tarnished on trial for alleged insider trading scandal. The trial not only led her to prison but also hurt her brand equity. The study shows that Stewart’s early response to her crisis demonstrated lack of situation awareness. In the beginning of her investigation, she kept her public persona intact, ignoring or downplaying her role in it. As a result, what Stewart called “a small personal matter” later became a full-blown crisis. If she had managed her communication in a more timely manner, the magnitude of her crisis might have been minimized. This article also provides detailed insights for organizations to learn from her crisis response strategies. Keywords: Organizational crisis, Crisis communication, Image restoration 1. Introduction The personalities of strong business leaders can help shape and enhance their corporate image. In some cases, the leaders become the virtual icon of the corporate brand, lending their personal prestige to the brand and personifying the company. They can also threaten the company when they are involved in a scandal. In this situation, the...
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...Compensation Final: Three Essays Mr. Music MGT 320 April 27, 2011 1) Essay Question # 2: Issues of CEO pay that managers need to understand. CEO Pay Overview It seems as though no matter how bad the economy gets or how poorly a company performs, the Chief Executive Officer (CEO) (and other top executives) always come out in the best possible position, especially with compensation. Besides lavish compensation packages and best possible amenities, the CEO’s generally enjoy large severance packages or “golden parachutes”. Severance packages are basically contractual deals between the CEO and the corporation that in case the CEO is terminated for some reason or leaves the company, he/she is entitled to a specific sum of money on departure. Golden parachute is a term used to describe rich severance pay packages which in addition offer cash bonuses, stock options and benefits – essentially a complete and wealthy severance pay package. (Carroll & Buchholtz, 2009) The purpose of these packages was logical for industries prone to mergers, acquisitions or failure – it would protect the CEO in case the company experiences any of the above. Nevertheless it increased the moral hazard problem and the principal-agent problem within organizations. Basically the rationale has a fallacy where it protects the CEO and his/her pay if the company should fail, merge or be acquired but it doesn’t protect the company if the CEO performs badly and decides to bail out when the company is taking...
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...relations can refer generally to any association between workers and management about employment circumstances. Most frequently, labor relations refers to dealings involving a workforce that is already unionized and management, or has the potential to become unionized. Labor relations are vital to organizations. The National Labor Relations Act was passed in the 1930s, which gave workers the right to bargain collectively and form unions in the United States (http://www.investorglossary.com/labor-relations.htm). To begin to understand the contributions of unions and their effects on organizations, we must first determine what unions are and what their role has been in labor relations and the nation’s organizations. Labor unions are groups formed by laborers who share a certain characteristics. Characteristics such as the industry, the type of work they do, and who agree that the union will act as their spokesperson or negotiator in all matters dealing with employment involving the employees and their respective employers. By forming unions, employees individually are able to work concurrently to negotiate with their employers to promote every member of the union. The course of bargaining for mutually beneficial benefits or agreements, and the communication between employees and their employers during that process and after that process, are what forms the basis of labor relations. Labor relations cover all aspects of an organization and of being an employee and all negotiations...
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...The Glass Ceiling Effect: Women’s Career Advancement in Puerto Rico Ángela Ramos Pérez May 7, 2008 2 Index Chapter One .....................................................................................................................................3 Introduction..................................................................................................................................3 Purpose for the Study...............................................................................................................3 Limitation ................................................................................................................................6 Chapter Two ....................................................................................................................................7 Literature Review ........................................................................................................................7 Introduction..............................................................................................................................7 Glass Ceiling............................................................................................................................8 Career Advancement .............................................................................................................12 Gender Based Gap ...........................................................................................................
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...POLYTECHNIC UNIVERSITY OF THE PHILIPPINES COLLEGE OF ACCOUNTANCY BACHELOR OF SCIENCE IN ACCOUNTANCY Research Topic: “Errors in Preparing Financial Plan in Investment firm” BACKGROUND Introduction It is vitally important for the investment firm to set up a financial plan in order not to experience hardships and financial difficulties in the future of their beneficiaries. Financial plan assure financial stability and financial freedom that an investors wants to possess till the end of his/her life. The process of preparing financial plan is a routine process that indeed involves not only careful financial analysis of the investors’ current situation and long-term commitment to implement and monitor that plan throughout his/her life, but also requires careful thinking for the future. In order to properly achieve the financial planning goals, one has to monitor the performance of the financial plan as well as make proper changes when necessary. While preparing the financial plan, the pre need industries should be taken it seriously. This is because a bad financial plan will lead to over capitalization or under capitalization as well as misappropriation of funds. In endeavor action, businesses are sometimes right and make correct decisions and sometimes they are wrong and prone to errors. These firms are prone to errors, because they do not have a correct perspective of the environment or lack a correct assessment of the current...
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...has been rather significant: When we classified. . . [our] . . . businesses, and when we realized that they were going to have quite different missions, we also realized we had to have quite different people running them.^ Within academia there has been similar growing awareness of this need. Although this awareness is being articulated in several ways, one of the most frequent involves the conceptualization and investigation of the relationship between business strategy and the personal characteristics of top managers.^ Here, particular manager characteristics such as personality, skills, abilities, values, and perspectives are matched with particular types of business strategies. For example, a recently released study conducted by Hay Group Incorporated, in conjunction with the University of Michigan and the Strategic Planning Institute, reports that when a business is pursuing a growth strategy it needs top managers who are likely to abandon the status quo and adapt their strategies and goals to the marketplace. According to the study, insiders are slow to recognize the onset of decline and tend to persevere in strategies that are no longer effective; so, top managers need to be recruited from the outside. Growth companies that staffed 20% of their top three levels with outsiders exceeded their expected return on investment by...
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...ABSTRACT BACKGROUND: During the last two years, most of the Private Equity (PE) companies of Bangladesh have increased their investments significantly. Easy access to capital, as well as inexpensive leverage, has led to an increase in activity of PE buy-outs of market leaders with strong cash flow. The competition for objects that are for sale has amplified, which has resulted in price increases of the objects. The higher prices offered by the PE companies also affects the number of initial public offerings (IPO) on the Dhaka and Chittagong Stock Exchanges. One reason for the small number of current IPOs is that the objects simply have been valued higher by PE companies than they would do in an IPO. PURPOSE: The purpose with this thesis is, from a shareholder’s point of view, to analyze and describe the reasons of making an IPO instead of selling to a PE company. METHODOLOGY: Since the research is based on gathering and understanding information regarding specific persons’ choices and motives, a qualitative approach has been conducted. CONCLUSION: All the main motives of the IPO could have been achieved by selling to PE Company, except the motive of attaining share liquidity. One of the attractive reasons for share liquidity is that shareholders easily can choose between reducing ownership, increasing ownership or remain with existing shares. Another attractive reason is that financial institutions normally become shareholders, which in turn increases the credibility...
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...Taxes Payable Insurance Expense Interest Expense Interest Payable Interest Receivable Interest Revenue Inventory Classification A Current Liability Current Asset Plant Asset—Contra Plant Asset—Contra Operating Expense Current Asset—Contra Operating Expense Financial Statement Balance Sheet Balance Sheet Balance Sheet Balance Sheet Income Statement Balance Sheet Income Statement Income Statement Balance Sheet Balance Sheet Normal Balance Credit Debit Credit Credit Debit Credit Debit Debit Credit Debit Debit Credit Debit Debit Debit Debit Debit Credit Debit Credit Debit Debit Credit Debit (1) Debit Credit Debit Debit Credit Debit Credit Debit B Operating Expense Long-Term Liability Plant Asset C Current Asset Stockholders' Equity Intangible Asset Cost of Goods Sold Balance Sheet Balance Sheet Balance Sheet Income Statement Balance Sheet Income Statement Balance Sheet Income Statement Retained Earnings Statement Balance Sheet Balance Sheet D Current Asset/Long-Term Investment Operating Expense Long-Term Liability—Contra Other Income Temporary account closed to Retained Earnings Current Liability E Plant Asset F Operating Expense Income Statement Income Statement Balance Sheet Not Applicable Income Statement Balance Sheet Income Statement Income Statement Balance Sheet Balance Sheet Income Statement Balance...
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...form10k_fy13.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ——————————— FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended: June 4, 2013 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to _________ Commission file number 1-12454 RUBY TUESDAY, INC. (Exact name of registrant as specified in charter) 63-0475239 (I.R.S. Employer Identification No.) 150 West Church Avenue, Maryville, Tennessee 37801 (Address of principal executive offices and zip code) (865) 379-5700 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Common Stock, par value $0.01 per share Name of each exchange on which registered New York Stock Exchange GEORGIA (State or other jurisdiction of incorporation or organization) Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yeso No x Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes o No x Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such...
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...THE NEW YORK TIMES COMPANY: A Case Study Analysis John J. Head WestCom Group Consulting Inc. School of Communication Telecommunications Management 4480 Western Michigan University 1903 West Michigan Avenue Kalamazoo, Michigan 49008 November 8, 2012 ©2012 John J Head Source: New York Times Co. Table of Contents I. Historical Overview 1 Early steps 2 Diversification 3 Challenges, changes 4 II. Organizational structure 5 Table 1 5 III. Business Operations 6 Table 2 7 The flagship 8 IV. Financial performance 9 Table 3 9 V. Future outlook 11 Branding 11 SWOT analysis and other risks 12 Table 4 13 Demographics 15 Philosophy 16 i Endnotes 18 I. HISTORICAL OVERVIEW “All the News That’s Fit to Print.” Special are those instances in business when a slogan becomes so synonymous with a company. Those words, found on the front page of every copy of every edition of The New York Times since 1896, began as a way to define the publication to its readership. That slogan stands to this day, but the newspaper and its parent, The New York Times Company, have grown far beyond the reaches of New York City and its surrounding boroughs. The New York Times Company is a diversified media company whose core purpose is “to enhance society by creating, collecting and distributing high-quality news, information and entertainment.”1 It is a publicly traded company (NYTC on the New York Stock Exchange) and publishes three major daily newspapers...
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...Plains Indians (then early settlers) used buffalo chips to build fires to heat their tepees (and sod huts). This was probably the first use of biomass energy in America. Early settlers learned from the Indians to heat their sod huts. After the buffalo became extinct, cow chips were used. On the plains there weren’t many trees and coal had not been discovered there, so this was a matter of survival (Whyte n.d.). Once the chips were dried in the sun they were almost odorless, and placed outside the tepees and sod huts. Western pioneers would modify their stoves to burn cow chips as they were plentiful along the cattle drive trails where the cattle were brought to the railroad cars for sale, and transporting to other areas. They compacted hay and then twisted it into twig-like bundles called cats. When the settlers started farming on the plains, they used corn stalks, corn cobs, and sunflower stalks as a source of fuel. In the United States, the first facility identified as a biomass power plant went on line in 1982. Using corn residues, rice husks, soy beans and sorghum residues, willows, switch grass, and organic waste from land fills as fuel, we could provide enough energy for all the homes in New England (Whyte n.d.). I interviewed Paul Perlwitz, an engineer for Nippon Paper Industries USA Co., Ltd, who works in the environmental department. He is working endlessly complete their project to build a $71 million biomass boiler. The new boiler will be 68% efficient, far greater...
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...2011 ANNUAL REPORT notice of annual meeting of stockholders and proxy statement Corporate Profile AutoZone is the leading retailer and a leading distributor of automotive replacement parts and accessories in the United States. The Company also operates stores in Puerto Rico and Mexico. 1 52 155 23 53 40 67 478 38 104 84 181 157 119 67 62 59 79 85 547 112 98 180 14 221 144 26 101 6 45 233 121 70 13 129 20 37 71 15 69 1 34 19 5 2 6 1 30 233 Each store carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Many stores also have a commercial sales program that provides commercial credit and prompt delivery of parts and other products to local, regional and national repair garages, dealers, service stations, and public sector accounts. AutoZone also sells the ALLDATA brand of diagnostic and repair software through www.alldata.com. Additionally, we sell automotive hard parts, maintenance items, accessories, non-automotive products and subscriptions to ALLDATAdiy product through www.autozone.com, and our commercial customers can make purchases through www.autozonepro.com. AutoZone does not derive revenue from automotive repair or installation. 279 27 4,534 stores in 48 states in the United States, the District of Columbia and Puerto Rico 279 stores in 31 Mexican states and the Federal District. Selected...
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