...operations are as follows: Pricing: Increases or decreases in primary aluminum prices result in increases and decreases in Century Aluminum revenues (assuming all other factors are unchanged). The company may enter into forward contracts or other hedging arrangements to reduce its price risk, but did not hold any such contracts as of December 31, 2014. The average LME price for primary aluminum for 2014 was $1,867 per tonne, compared to $1,846 per tonne in 2013. The average regional delivery premiums increased in 2014 to $450 per tonne for the U.S. Midwest premium from $244 per tonne in 2013 and $218 per tonne in 2012. The company’s operating results are significantly impacted by changes in the price of primary aluminum and the materials used in its production, including electrical power, alumina, aluminum fluoride and carbon products; and it cannot pass thease additional costs to its consumers. Instead, the company tries to manipulate the prices through the use of fixed costs, negotiating LME-based pricing in some of the raw materials and electrical power contracts. Power supply agreements: Century Aluminum has put some much effort in negotiating power contracts within the regions they operate in. For example, the company managed to secure a power contract with a local supplier to sell to Hawesville plant at market price. This gives the company some room when it comes to reducing fixed costs so prices of aluminum could be set at competitive level in order to maintain profitability...
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...CounterTrade University of Phoenix MGT 448 April 17, 2011 Since the beginning of civilization, trade has existed. For thousands of years, nations have traded silk, spices, precious metals as well as animals. As centuries pass, trade between nations has advanced in terms of products. Today, nations deal in trading countless types of products including electronics, liquor, and military equipment. One type of trading among nations is known as countertrade. Countertrade is an association between two parties in which goods and/or services are traded for goods and/or services as an alternative to money. These parties can be between companies as well as countries. For example, a large company in Europe can trade a local product as a form of payment to another company in the United States for a particular American product. If a nation’s currency is not exchangeable or no good overseas, they may offer a commodity or other product in place of cash (Gonzales, 2011). One of the most familiar events involving countertrade was between global soft drink giant, Pepsi and the former U.S.S.R. who had limited access to foreign currency due to its communist ideology. In 1972, Stolichnaya Vodka was used as payment to Pepsi by the Soviet nation for shipping syrup to the U.S.S.R. Pepsi became the first foreign product sold in the U.S.S.R. Because of this incident, Pepsi now has the marketing rights of all Stolichnaya Vodka in the United States (West, 1996). There are...
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...used non-ferrous metal in the world and the most liquid contract traded on the LME. Aluminium is extremely light, pliable, has good electrical conductivity and is resistant to corrosion. It is used in a wide variety of products: cans, foils, window frames, car body panels,wiring and kitchen utensils. World aluminium production 2011 Region | % | Asia | 55% | Europe | 20% | America | 16% | Oceania | 5% | Africa | 4% | Source: WBMS www.world-bureau.com Industry consumption 2011 Market Sector | % | Transport | 25% | Construction | 25% | Packaging | 17% | Electrical | 12% | Machinery & equipment | 10% | Consumer durables | 6% | Other | 6% | Every metal traded on the LME must conform to strict specifications regarding quality, lot size and shape. Each LME tradeable contract is likewise governed by rules covering (but not limited to) prompt dates, settlement terms, traded and cleared currencies and minimum tick size. Contract specifications Law / Regulation English Law, with regulation by the LME and the Financial Conduct Authority (FCA). This is a summary of the contract specifications. LME contracts may only be offered or sold to United States foreign futures and options customers by firms registered with the Commodity Futures Trading Commission (CFTC), or firms who are permitted to solicit and accept money from foreign futures and options customers from trading on the LME. * Physical Quality | Primary aluminium with impurities...
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...A PROJECT REPORT ON COPPER: THE BROWN GOLD Submitted to the Mumbai University in partial fulfillment of the requirement for the award of M.M.S. Degree GUIDE MR. SANJIV BARVE by SURESH CHANDRAN MMS - FINANCE ATHARVA INSTITUTE OF MANAGEMENT STUDIES MALAD-MARVE ROAD, MALAD (WEST), MUMBAI 400095 BATCH 2006-2008 CERTIFICATE This is to certify that the project entitled “COPPER: THE BROWN GOLD” is the bonafide work carried out by Mr. Suresh Chandran, student of M.M.S. Batch 2006-2008, Atharva Institute of Management Studies, during the year 2007-2008 in partial fulfillment of the requirements for the Post Graduate Degree of Master of Management Studies and that the project has not formed the basis for the award of any other degree, associate-ship, fellowship or any other similar titles. Sd/- Mr. Sanjiv Barve Project Guide & Faculty Member Atharva Institute of Management Studies Date: Place: ACKNOWLEDGEMENT I would like to take this opportunity to express my sincere and heart-felt gratitude towards my institute, Atharva Institute of Management studies for giving me this wonderful experience to guide my first steps into a Career in Finance. I express my appreciation towards our Dean, Mr. N. S. Rajan, who believed in me and provided me with a great learning canvass to expand my perspectives and learning horizons. I offer my sincerest thanks to my eternal academic guiding star, Mr. Sanjiv Barve, my project guide for his immense help. His guidance...
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...FIN 3103 FINANCIAL MARKETS AND INSTITUTIONS– SECTION 1A AN INTRODUCTION TO THE ASIAN EQUITY MARKET & ITS EXCHANGES SAMUEL TOW WEE YAP (A0102724U) LIEW KUANG CHEN JOEL (A0004624U) ANG CHUAN HWEN JEREMY (A0080928X) LIAW YIH HANG (A0091535E) WU GUIYAN (A0100395N) ZHAO CHUANYI (A0105563L) Contents 1. Introduction ..................................................................................................................................................................................................... 4 2. Objectives of the Stock Market ................................................................................................................................................................. 4 2.1 Capital Formation ......................................................................................................................................................................................... 4 2.2 Connecting Traders ...................................................................................................................................................................................... 4 2.3 Security............................................................................................................................................................................................................. 4 2.4 Economic Indicator ...................................................................................................
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...BEST CONSULTING, LLC PROFESSIONAL SERVICES AGREEMENT This Professional Services Agreement (“Agreement”) is entered into effective as of the (the “Effective Date”), by and between Best Consulting, LLC (“Supplier”) and (“Client”). For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Client and Supplier hereby agree as follows: Nature and Scope. Client hereby agrees to retain Supplier to perform consulting services related to the selection of a Public Relations firm and the development of a Crisis Management Plan. Client recently had several customers report the contraction of salmonella as a result of food that was eaten at one of the Client’s establishments. Goals, Expectations, and Responsibilities. Supplier will evaluate and provide recommendations to several suitable Public Relations Firms. These evaluations will consist of interviewing and analyzing several firms and presenting the Client with the most appropriate options to select from. It will be up to the Client to make final decisions regarding the Public Relations Firm that is chosen and what level of engagement commences as a result of the Supplier’s findings. Client will also make final decisions regarding the design, development, and implementation of the crisis management plan. Client agrees to participate as requested in consulting activities. This includes calling meetings, providing meeting sites and amenities, and providing information...
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...The Enforcement of Rights under Collective Agreement Introduction Historically, the relations between employers and employees were accompanied by numerous conflicts which were determined by natural factors. In fact, the conflicts between the management and employees were and still are inevitable since, even thought they work in the same organizations, they still have different purposes. It is obvious that the major goal of employees is to get the maximum payment for their labor and to have guarantees of social protection in case of some accidents, illnesses, retirement, etc. while managers and the owners of companies attempt to get the maximum profit from their organizations exploiting employees possibly reducing the cost of the labor force and increasing the effectiveness and productivity of labor. As a result, the functioning of both parties within the same organizations is based on different approaches to the job each of the parties does. No wonder such a difference leads to the numerous conflicts when one of the parties or both want to protect their own interests since this inevitably affects the interests of the opposing party. In such a situation, the necessity to develop some common rules of the game is obvious. This is why in the course of the development of relationships between employers and employees the legal basis of their relations was created. In this respect, it is necessary to underline that employees, being initially in a deprived position, attempt to protect...
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...entered into a written employment contract to hire Dennis Winkel. The contract provided for an annual salary, insurance benefits, and other employment benefits. Another doctor, Dr. Quan, also practiced with Dr. Vranich. About nine months later, when Dr. Quan left the practice, Vranich and Winkel entered into an oral modification of their written contract whereby Winkel was to receive a higher salary and a profit-sharing bonus. During the next year, Winkel received the increased salary. However, a disagreement arose, and Winkel sued to recover the profit-sharing bonus. Under Montana law, a written contract can be altered only in writing or by an executed oral agreement. Dr. Vranich argued that the contract could not be enforced because it was not in writing. Does Winkel receive the profit-sharing bonus? Did Dr. Vranich act ethically in raising the defense that the contract was not in writing? Winkel v. Family Health Care, P.C., 205 Mont. 40, 668 P.2d 208, Web 1983 Mont. Lexis 785 (Supreme Court of Montana) (Cheeseman 2010, p. 158) Cheeseman, H. (2010). Business Law: Legal Environment, Online Commerce, Business Ethics, and International Issues. Upper Saddle River: Pearson Prentice Hall. Issue Under Montana law, a written contract can be modified only in writing or if an oral agreement had been executed. Was the oral agreement between Vranich and Winkel executed? Is the contract unenforceable? Did Vranich...
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...the expiration date, a Big Time manager forwarded a drafted agreement via e-mail, which covered the terms of the agreement. Chou received and responded to the draft in agreement with the terms; however, Big Time did not respond and months later Big Time was no longer interested( Melvin, 2011). The proposed contract existed immediately following the agreement to exclusive rights. The contract from that point was valid for 90 days following the agreement, which obstructed Chou’s ability to negotiate with other distribution outlets. The elements, which validate a contracts formation consist of an offer, BTT offered $25,000 to Chou for exclusive negotiation rights, acceptance Chou accepted the offer and monetary compensation, and finally the consideration for BTT exclusive negotiation rights to the game and Chou $25,000 (Melvin, 2011). The Big Time Toymaker manager drafted an agreement before Chou took initiative; therefore, based on the manager’s initiative resulting in labeling the e-mail with Strat Deal, insertion of key terms, a distribution agreement with prices, times, and various obligations proved mutual assent ( Melvin, 2011). Even without the formal word contract, the e-mail set the tone for an agreement. No matter what e-mail is a valid source of communication; therefore, the impact of the choice of communication remains relevant because the transfer of communications constituted an extension of the...
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...P18-6 (Long-Term Contract with Interim Loss) On March 1, 2010, Pechstein Construction Company contracted to construct a factory building for Fabrik Manufacturing Inc. for a total contract price of $8,400,000. The building was completed by October 31, 2012. The annual contract costs incurred, estimated costs to complete the contract, and accumulated billings to Fabrik for 2010, 2011, and 2012 are given below. 2010 2011 2012 Contract costs incurred during the year $2,880,000 $2,230,000 $2,190,000 Estimated costs to complete the contract at 12/31 3,520,000 2,190,000 –0– Billings to Fabrik during the year 3,200,000 3,500,000 1,700,000 Instructions (a) Using the percentage-of-completion method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2010, 2011, and 2012. (Ignore income taxes.) (b) Using the completed-contract method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2010, 2011, and 2012. (Ignore incomes taxes.) (a) Computation of Recognizable Profit/Loss Percentage-of-Completion Method 2010 Costs to date (12/31/10) $2,880,000 Estimated costs to complete 3,520,000 Estimated total costs $6,400,000 Percent complete ($2,880,000 ÷ $6,400,000) 45% Revenue recognized ($8,400,000 X 45%) $3,780,000 Costs incurred 2,880,000 Profit recognized in 2010 $ 900,000 2011 Costs...
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...Several months ago the Federal Aviation Administration (FAA) placed a solicitation for a one year construction contract to build a ten story office building for the FAA in the downtown area of Washington, DC. My company, Bell Construction, Inc. was awarded the $8 million contract in December of 2010. Our contracting officer, John Blair was responsible for administering the contract and ensuring that we met the completion date of December 30, 2011. My company officially started the project on January 2, 2011. The project went well for a couple of months considering we had our occasional bad weather of snow, rain and high winds but we had more than enough time to complete the project. As time went on the contract started to experience a couple of bumps in the road in terms of minor delays which were caused by the government or shall I say our contracting officer John Blair. In May of 2011, John informed us that the project will be delayed because the paperwork on his end was not complete and for safety purposes needed to halt the project. I found this to be totally unprofessional and unacceptable. Four months into the project and the foundation has been laid along with three levels of the building having already been completed and he was now concerned about our safety. John did not provide us with a reasonable timeframe as to when the work will restart or if we will be given an extension for completion. He asked us to standby for a couple of weeks until he gets more information...
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...GUJARAT UNIVERSITY SYLLABI OF THREE YEARS LL.B. PROGRAMME WITH CREDIT BASED SYSTEM (As prescribed by the BAR COUNCIL OF INDIA and as per the Rules of Legal Education, 2008) Effective from the academic year 2011-12 THREE YEARS’ LL.B. POGRAMME First LL. B. Semester – I FIRST LL.B. - SEMESTER 1 (MONSOON) PER WEEK CORE COURSE 101 SUBJECTS Law of Tort including MV Accident And Consumer Protection Laws Criminal Law Paper – I (General Principles of Penal Law) Criminal Law Paper – II (Specific Offences) Law of Contract Special Contract Constitutional History of India Use of Law Journals and Legal Software LECTURES 4 OTHERS 1 TOTAL 5 CREDITS (SEM)29 5 CORE COURSE 102 CORE COURSE 103 CORE COURSE 104 CORE COURSE 105 FOUNDATION 106 F SOFT SKILL 107 K 4 4 4 4 1 1 1 1 1 1 1 1 5 5 5 5 2 2 5 5 5 5 2 2 1 Semester – I Monsoon Semester CORE COURSE 101 : LAW OF TORT INCLUDING MV ACCIDENT AND CONSUMER PROTECTION LAWS Objectives of the course : With rapid industrialization, tort action came to used against manufacturers and industrial unit for products injurious to human beings. Presently the emphasis is on extending the principles not only to acts, which are harmful, but also to failure to comply with standards that are continuously changing due to advancement in science and technology. Product liability is now assuming a new dimension in developed economics. In modern era of consumer concern of goods and services, the law of torts has...
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...REFERENCE 3 FINDINGS 3 CONTRACTS OF EMPLOYMENT 3 IMPLIED AND EXPRESS TERMS IN AN EMPLOYMENT CONTRACT 4 DISMISSAL 5 UNFAIR DISMISSAL 6 ELIGIBILITY TO CLAIM UNFAIR DISMISSAL 7 WAS A FAIR PROCEDURE FOLLWED? 8 DISABILITY DISCRIMINATION 8 REMEDIES 9 UNFAIR DISMISSAL CLAIM 9 DISABILITY DISCRIMINATION 9 CONCLUSION 10 RECOMMENDATIONS 10 BIBLIOGRAPHY 11 TERMS OF REFERENCE I work as legal advisor for a national toy chain, Playtime. I am going to produce a report examining common law and statutory issues raised by a former employee who may pursue a case for constructive dismissal. I hope to advise Playtime of any action Miss Parry may take in light of her departure from the company and will give recommendations and remedies which may apply to this scenario. FINDINGS CONTRACTS OF EMPLOYMENT An employment contract, or ‘contract of employment’, is an agreement between an employer and an employee which sets out their employment rights, responsibilities and duties. These are called the ‘terms' of the contract. (DirectGov, Online, Accessed 18/12/2010) Employment contracts do not have to be in writing, they can be word of mouth. However, every employee is entitled to a written statement containing employment terms and conditions within 2 months of starting work. The statement must contain a number of relevant details such as Hours, Rates of pay, holidays etc, and must comply with Section 1 of the Employment Rights Act 1996. The contract itself is made as soon...
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...at what point does an employee become an acting agent of the company, and thus has the authority to make decisions which can affect the business; the example, of course, would be in the case of the Quick Takes fiasco where an employee signed what she believed was a receiving slip but which was in fact a binding legal contract for use of equipment. Acting Agent or Employee with Responsibilities? At the root the problem is whether or not Janet could be considered an acting agent of the company and, as such, can make decisions and/or sign off on binding contractual agreements. As explained in the simulation video by Hal, Janet does have the authority to order and purchase items for the business. Additionally, Janet was also told by Hal to arrange the trial usage of the video editing machine. This statement alone could be construed as giving Janet permission to act on behalf of Quick Takes, regardless of any written document stating this fact. With these facts in mind, it is plausible that contract formation was achieved in the video simulation, albeit with a hint of deception in the way Plaintiff presented the contract. An Alternative method to contract formation The author feels that if Non-Linear Pro had true intentions of starting a business relationship with Quick Takes, the events should have transpired differently. First...
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...Problem Statement Virgin Mobil is venturing into the US market and their launch date is July 2002. The company’s goal is to have one million total subscribers by the end of the first year and three million by year four. In order to achieve their goals, the company has to come up with a competitive pricing strategy to attract and retain customers in an already mature market. Recommended course of action Despite a mature US market, the cellular service industry has a market penetration of only about 15% in the segment comprising of users aged between 15 and 19 years. This segment is characterized by inconsistent cell phone usage, low credit ratings and usage pattern different from the typical businessperson. Hence, Virgin Mobile USA is looking to penetrate this segment and create brand loyalty through attractive pricing and additional feature in mobile entertainment. Based on our analysis, we recommend the following: 1. Aim for the non-contractual prepaid segment with a new pricing structure: Virgin Mobile USA should look to price at 20-30 cents per minute. 2. Increase the off peak hours: The company could extend the off-peak hours by 2 hours, starting at 7pm instead of 9pm. 3. Lowering of Acquisition Cost (AC): Virgin Mobile USA should keep its AC around $130 by passing on a part of the handset cost to the customers. Rationale for Recommendation We can see from Exhibits 1 & 2 that if Virgin Mobile opted for a contractual service plan with rates at par with industry...
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