...Estimated Exit Value of Equity at 2010 Using EBITDA Multiples | ($millions) | | | | | | | Median1 | Mean2 | DTF/URI3 | Cendant/URI4 | RAC-adjusted EBITDA, case Exhibit 8 | $853.4 | $853.4 | $853.4 | $853.4 | Car rental EBITDA multiple | 6.47 | 7.04 | 6.18 | 8.47 | RAC Operating Company Value | $5,521.5 | $6,007.9 | $5,274.0 | $7,228.3 | | | | | | Net book value of fleet, case Exhibit 9 | $9,455.0 | $9,455.0 | $9,455.0 | $9,455.0 | | | | | | Total RAC value | $14,976.5 | $15,462.9 | $14,729.0 | $16,683.3 | | | | | | HERC EBITDA | $809.4 | $809.4 | $809.4 | $809.4 | Equipment rental EBITDA multiple | 6.37 | 6.55 | 5.37 | 5.37 | HERC value | $5,155.9 | $5,301.6 | $4,346.5 | $4,346.5 | | | | | | Total enterprise value of Hertz, 2010 | $20,132.4 | $20,764.5 | $19,075.5 | $21,029.8 | Less: total debt (Fleet+Operating Company) | $14,769.0 | $14,769.0 | $14,769.0 | $14,769.0 | Equity value of HertzCo., 2010 | $5,363.4 | $5,995.5 | $4,306.5 | $6,260.8 | | | | | | Multiples are from case Exhibit 11. | | | | | 1Based on median segment multiples. | | | | | 2Based on mean segment multiples. | | | | | 3Based on Dollar Thrifty multiple for RAC/United Rental multiple for HERC. | | 4Based on Cendant multiple for RAC/United Rental multiple for HERC. | | | | | | | | | | | | Internal Rate of Return (IRR) to Sponsors | | | | | | | | | 2005 | 2006 | 2007 | 2008 | 2009...
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...Q1. Best comparable companies to DSH and the strengths and weaknesses of decision. Out of the nine comparable companies given for DSH's relative valuation, five have been selected to be in the analysis for relative valuation for their similarities in business operations and risk profiles. These five companies are JB Hi-Fi Limited (JBH), Harvey Norman Holdings Ltd. (HVN), GOME Electrical Appliances Holding Limited (GMELY), Dixons Retail PLC (DXNS) and Hikari Tsushin, Inc. Strengths of decision Business operations: Only companies which operates its business relatively similar to DSH's have been taken selected in this relative valuation. DSH is a major retailer of consumer electronics for offices, mobility and entertainment products. Out of nine comparable companies given, only Myer Holdings Limited (MYR) and Game Stop Corp. (GME) were identified not to be similar to DSH, GME primarily sells products related to electronic games and MYR retails a wide range of merchandise including apparels, cosmetics, electronics and furniture. This suggests that MYR and GME would not be ideal as DSH's comparable companies on the basis that they are exposed to different operating risks from DSH. Furthermore, all 5 selected firms operate on omni-channels of distribution and have very similar products and services with essentially the same target market in their countries of operation, making it ideal to be used in this relative valuation of DSH. Weaknesses of decision Market Capitalisation:...
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...Risks Related to Our Business and Industry Our limited operating history makes evaluating our business and future prospects difficult, and may increase the risk of your investment. You must consider the risks and difficulties we face as an early stage company with a limited operating history. If we do not successfully address these risks, our business, prospects, operating results and financial condition will be materially and adversely harmed. We were formed in July 2003. We began delivering our first performance electric vehicle, the Tesla Roadster, in early 2008, and as of March 31, 2012, we had only sold approximately 2,250 Roadsters to customers, primarily in the United States and Europe. Our revenues for the three months ended March 31, 2012 and 2011, were $30.2 million and $49.0 million, respectively. We have a very limited operating history on which investors can base an evaluation of our business, operating results and prospects. To date, we have derived our revenues principally from sales of the Tesla Roadster and from electric powertrain development services and sales. We intend in the longer term to derive substantial revenues from the sales of Model S, Model X and future electric vehicles. Model S is in development and we plan to commence deliveries in June 2012. We have no operating history with respect to Model S and will continue to negotiate production pricing with our sources of component supply and make adjustments to our component procurement process...
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...i s Mide dl S re A d e s te t d rs Ct i y S ae tt E iA d e s mal d rs T lp o e ee h n ZpC d i oe A ey uo e 1 ?(e / o r o v r 6 Y sN ) E u a in l s o y d c t a Hit r o S h o N me/L c t n co l a o ai o Y asC mpee e r o ltd D g e /D po e re ilma C lg ol e e Hg ih Mide dl A t ie /O g nz t n ci t s r a i i s vi ao E ly n R c r (itMo tR c n E ly rFrt mp o me t e o d Ls s e e t mpo e i ) s C mp n N me o ay a P o e# hn C mp n N me o ay a P o e# hn C mp n N me o ay a P o e# hn N me a 1 . 2 . L ct n o ai o S lr aay S p ri r u evs o R a o fr e vn e s n o L a ig L ct n o ai o S lr aay S p ri r u evs o E ly dFo T mpo e r m/o R a o fr e vn e s n o L a ig L ct n o ai o S lr aay E ly dFo T mpo e r m/o S p ri r u evs o E ly dFo T mpo e r m/o R a o fr e vn e s n o L a ig R fr n e ee e c s O cp t n c u ai o Y asK o e r n wn T lp o e# ee h n E L ME MP OY NTA P I A I P L C T ON Y uc na pyfr p s ina ti so eu igtefr b lw o a p l o a o io t hs tr s t n h o m eo . A alb l y v i it a i I i i o tn ta wec l c ifr t no y u a alblyfr h s a o a dwea kta y uk e i mid ts mp ra t h t ol tno mai n o r v i it o te e s n n e o a i s ht o epn n ta y u rs o s swi pa alr efco i tehr gd c in h t o r ep n e l ly ag a tr n h in e i o . l i s T ef s d yI a wo ki h i t a cn r s r : T els d yI a wo ki h at a cn...
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...INTERNSHIP REPORT ON “MONEY LAUNDERING AND ITS PREVENTION POLICY: A CASE OF CITY BANK LIMITED” Submitted To: Mr.Shawkat Kamal Assistant Professor & Program Coordinator, Executive MBA BRAC Business School, BRAC University Submitted By Tarek Amin Chowdhhury ID: 08104130 Department of Business Administration BRAC Business School, BRAC University Date of Submission: 22nd April, 2012 INTERNSHIP REPORT ON “MONEY LAUNDERING AND ITS PREVENTION POLICY: A CASE OF CITY BANK LIMITED” Table of Contents Letter of transmittal ............................................................................................................... i) Acknowledgement ................................................................................................................ ii) Executive Summary ............................................................................................................ iii) Acronyms ............................................................................................................................ iv) Chapter 1 ..................................................................................................................................1 Introduction of the report ........................................................................................................1 1.1 Origin of the report ...........................................................................................................2 1.2 Objective of the report ......
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...HUMAN RESOURCE MANAGEMENT ANSWERS TO UNIVERSITY QUESTION PAPERS (1998, 1999, 2000, 2001, 2002) 1 INDEX HUMAN RESOURCE MANAGEMENT ( H R M ) STRATEGIC HUMAN RESOURCE MANAGEMENT: HUMAN RESOURCE DEVELOPMENT TEAM EFFECTIVENESS HUMAN RESOURCE PLANNING ( H R P ) JOB ANALYSIS JOB DESCRIPTION JOB SPECIFICATIONS JOB EVALUATION JOB DESIGN DESIGNING JOBS – MOTIVATING JOBS JOB SATISFACTION WORK SAMPLING RECRUITMENT & SELECTION TRAINING & DEVELOPMENT INDUCTION & ORIENATION PERFORMANCE APPRAISALS INCENTIVES BASED COMPENSATION HUMAN RESOURCE AUDIT MOTIVATION THEORIES MORALE PERSONNEL POLICIES WORKERS’ PARTICIPATION IN MANAGEMENT UNIONS ORGANIZATIONAL DOWNSIZING MEANING OF ORGANIZATION STRUCTURE HUMAN RESOURCE MANAGEMENT ( H R M ) Definit io n 1 – Inte gr atio n “HRM is a series of integrated decisions that form the employment relationships; their quality contributes to the ability of the organizations and the employees to achieve their objectives.” Definit io n 2 – Influe ncing “HRM is concerned with the people dimensions in management. Since every organization is made up of people, acquiring their services, developing their skills, motivating them to higher levels of performance and ensuring that they continue to maintain their commitment to the organization are essential to achieving organizational objectives. This is true, regardless of the type of the organization – government, business, education, health, recreational, or social action.” 2 Definit io n 3 – Applica...
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...SECTION - I 1 INTRODUCTION TO MARKETING PART I Unit Structure 1.0 Objectives 1.1 Introduction 1.2 Meaning & Definitions of marketing 1.3 Importance of marketing 1.4 Scope of marketing 1.5 Concepts of marketing 1.6 Role of marketing manager in changing environment 1.7 Summary 1.8 Exercise 1.0 OBJECTIVES After studying this chapter students will be able to: Understand the meaning and definition of marketing. Explain the nature of marketing Discuss the importance of marketing Know the scope of marketing Explain the concepts of marketing 1.1 INTRODUCTION The emergence of ‗marketing‘ as a business discipline is of relatively recent origin. Though it has been practiced from the time of barter through money economy to today‘s modern complex marketing system, exchanges have been taking place. The ideas associated with marketing have undergone a great deal of change over centuries. Even after marketing became a full–fledged business discipline. Marketing, more than any other business function, deals with customer. It revolves around the customer. Building relationship based on customer value and satisfaction is at the very heart of modern marketing. The pricing strategies adopted the promotional tools selected; the design, shape and size of the product and the place of sales etc. are all decided after finding out the lifestyle, culture, buying habits and media consumption habits etc of all customers Marketing links producers and consumers together for mutual...
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...Summer Project Report on “Market Research and Route Mapping for Tata Iris and Venture” Submitted in partial fulfillment of PGDM program 2013-15 [pic] Submitted by Name: Tapan Sharma Roll Number: 27 Company Guide Faculty Mr. Ankur Aggarwal Dr. Girish Kathuria Territory Sales Manager -SCVP Professor Tata Motors Ltd EMPI BUSINESS SCHOOL New Delhi ACKNOWLEDGEMENT I express my sincere gratitude to my industry guide Mr. Ankur Aggarwal, Territory sales Manager-SCVP, Tata Motors ltd, for his able guidance, continuous support and cooperation throughout my project, without which the present work would not have been possible. I would also like to thank the DSE and DSM of Automobile Sterling, Ashok Ojha , Mr. Harish Sharda, for the constant support and help in the successful completion of my project. Also, I am thankful to my faculty guide Prof./Dr./ Girish Kathuria of my institute, for his continued guidance and invaluable encouragement. Tapan Sharma INDEX |s.no |chapters |page no. | |1 |EXECUTIVE SUMMARY ...
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...HR and Business Acronyms AA 1.) Affirmative Action 2.) Adverse Action AACU American Association of Colleges and Universities AAO Affirmative Action Office AAP Affirmative Action Plan AAR Average Annual Return AARP American Association of Retired Persons ABF Asset Based Financing ABM Activity Based Management ABMS Activities Based Management System ABS Asset Backed Security ACH Automated Clearing House AD & D Accidental Death and Dismemberment ADA Americans with Disabilities Act ADEA Age Discrimination and Employment Act ADL Activities of Daily Living ADP Automatic Data Processing ADR Alternative Dispute Resolution AE Account Executive AED United Arab Emirates AFL-CIO American Federation of Labor and Congress of Industrial Organizations AFSCME American Federation of State, County and Municipal Employers AJB Americas Job Bank ALC Alien Labor Certification ALEX Automated Labor Exchange ALJ Administrative Law Judge ALM Asset Liability Management AM Asset Management AMA 1.) American Management Association 2.) American Medical Association AMPS Auction Market Preferred Stock ANSI American National Standards Institute AP Accounts Payable AR Accounts Receivable APB Accounting Principles Board APR Annual Percentage Rate APV Adjusted Present Value APY Annual Percentage Yield ASAE American Society of Association Executives ASB Accounting Standards Board ASHHRA American Society for Healthcare Human Resources Administration ...
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...Second Year - Third Semester 3.0.1 International Business - University Assessment 100 Marks Course Content 1. Overview of the International Business Process 2. PEST factors affecting International Business 3. Government influence on trade 4. International Trade Theories 5. FDI 6. Country Evaluation and Selection 7. Collaborative Strategies 8. International Marketing 9. International Trade Agreements 10. International Trade Organizations 11. Forex 12. International HR Strategies 13. International Diplomacy Reference Text 1. International Business – Daniels and Radebough 2. International Business – Sundaram and Black 3. International Business – Roebuck and Simon 4. International Business – Charles Hill 5. International Business – Subba Rao 3.0.2 Strategic management 100 Marks Course Content 1. Strategic Management Process: Vision, Mission, Goal, Philosophy, Policies of an Organization. 2. Strategy, Strategy as planned action, Its importance, Process and advantages of planning Strategic v/s Operational Planning. 3. Decision making and problem solving, Categories of problems, Problem solving skill, Group decision making, Phases indecision making. 4. Communication, Commitment and performance, Role of the leader, Manager v/s Leader, Leadership styles. 5. Conventional Strategic Management v/s Unconventional Strategic Management, The differences, Changed Circumstance 6. Growth Accelerators: Business Web, Market Power, Learning based. 7. Management Control, Elements,...
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...Intermediate textbooks published by CIPD in September 2012 Many of our centres are providing students with all the resources required to succeed in their chosen qualification. CIPD offer bespoke textbook collections written by chief examiners and module authors to meet the needs of your students. To organise a collection specifically relevant for your students please email publishingmarketing@cipd.co.uk for more information. Introduction These three titles cover the content of the CIPD intermediate level core units in human resource management and development. The books are written and edited by CIPD accredited experts and offer a wealth of experience in teaching, writing and examining, whilst covering the unit learning outcomes. They also include a wide range of learning features such as reflective activities, annotated further reading, and case studies. Reviews Studying Human Resource Management ‘Through the successful collaboration of the core modules of the intermediate qualification into one text, a valuable resource to both learners and tutors has been created. It enhances the continuing alignment of educational objectives and the CIPD’s professional development framework to deliver and develop outstanding HR professionals.’ Ian Chapman, CIPD course leader, Warrington Collegiate ‘This is a clearly written text which successfully bridges the gap between theory and practice. Coverage of the core modules of the CIPD Intermediate qualification is...
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...Revised Syllabus with Credit based Semester and Grading System For The Master of Management Studies (MMS) 2Years full-time Degree Course (Effective from the academic year 2012 – 2013) MMS New Course Structure (Effective July 2012 onwards) MMS First Year: Semester I Subject/Paper Maximum Number of Marks Sessions of 90 Minutes Core Papers 1.1 Perspective Management 1.2 Financial Accounting 1.3 Managerial Economics 1.4 Operations Management 1.5 Organisational Behaviour 1.6 Business Mathematics 1.7 Information Technology & Management 1.8 Communication Skills 1.9 Marketing Management 1.10 to 1.13 Elective 1 Elective 2 Total Electives (Students need to opt for any two electives) 1.10 Selling & Negotiation Skills 1.11 High Performance Leadership 1.12 Indian Ethos in Management 1.13 Corporate Social Responsibility Projects 50 100 100 100 100 100 50 100 100 100 100 1000 18 30 30 30 30 30 18 30 30 30 30 306 Note 1: All subjects/papers for semester I will be internally assessed by the institute. Note 2: All new electives proposed to be introduced by the institute, apart from electives listed in the new syllabus; need to inform University in writing outlining the details of the course with learning objectives, learning outcomes, detail syllabus, teaching learning plan and course evaluation procedures within the pattern prescribed at least one semester in advance. Master of Management Studies First Year Semester I Sl No Code Subject/Paper No of Periods per week...
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...“If you have any query about this document, you may consult issuer, issue manager and underwriter” PROSPECTUS of GSP FINANCE COMPANY (BANGLADESH) LIMITED For Public Issue of 20,000,000 ordinary share of Tk.10.00 each at an issue price of Tk.25.00 per share including a premium of Tk. 15.00 per share totaling Tk. 500,000,000.00 Opening date for subscription Closing date for subscription Non‐Resident Bangladeshi (NRB), subscription opens on Non‐Resident Bangladeshi (NRB), subscription closes on Credit Rating Status Entity Rating Date of Rating Validity of Rating : : : : January 08, 2012 January 12, 2012 January 08, 2012 January 21, 2012 Short Term ST‐4 Long Term BBB3 06 March 2011 30 June 2012 RATING ASSIGNED BY: CREDIT RATING AGENCY OF BANGLADESH LTD.(CRAB) UNDERWRITERS IDLC Investment Limited Eunoos Trade Center (Level 21) 52‐53 Dilkusha C/A, Dhaka. ICB Capital Management Limited 8, DIT Avenue, BDBL Bhaban (Level‐16), Dhaka. MTB Capital Limited 68 Dilkusha (6th Floor) C/A, Dhaka. City Bank Capital Resources Limited st Jibon Bima Tower, 1 Floor 10, Dilkusha C/A, Dhaka. Lanka Bangla Finance Ltd. Safura Tower (Level 11), 20 Kemal Ataturk Avenue, Banani, Dhaka‐1213. Sonali Investment Limited Sara Tower, 11th Floor, 11/A, Toynbee Circular Road, Motijheel C/A, Dhaka. Issue date of the Prospectus: November 29...
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...Mergers, Acquisitions and Corporate Restructuring II MERGERS, ACQUISITIONS AND CORPORATE RESTRUCTURING Mergers, Acquisitions and Corporate Restructuring Edited by Chandrashekar Krishnamurti Vishwanath S.R. Copyright © Chandrashekar Krishnamurti and Vishwanath S.R., 2008 All rights reserved. No part of this book may be reproduced or utilized in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage or retrieval system, without permission in writing from the publisher. First published in 2008 by Response Books Business Books from SAGE B1/I-1 Mohan Cooperative Industrial Area Mathura Road, New Delhi 110 044, India SAGE Publications Inc 2455 Teller Road Thousand Oaks, California 91320, USA SAGE Publications Ltd 1 Oliver’s Yard, 55 City Road London EC1Y 1SP, United Kingdom SAGE Publications Asia-Pacific Pte Ltd 33 Pekin Street #02-01 Far East Square Singapore 048763 Published by Vivek Mehra for Response Books, typeset in 9.5/13 pt Berthold Baskerville by Star Compugraphics Private Limited, Delhi and printed at Chaman Enterprises, New Delhi. Library of Congress Cataloging-in-Publication Data Mergers, acquisitions and corporate restructuring/edited by Chandrashekar Krishnamurti, Vishwanath S.R. p. cm. Includes references and index. 1. Consolidation and merger of corporations. Corporate reorganizations. I. Vishwanath, S.R., 1971– II. Krishnamurti, Chandrashekar, 1956– HG4028.M4 .M44 658.1/6 22 2008...
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