...Note: Our second case assignment for the quarter is the Harvard Business School Brief Case about Lyons Document Storage Corporation. Please go to our class website and buy the Harvard Case, but then use the following modification for you analysis and discussion. Please attach the copy of the Harvard case to your submission so that I will know that you purchased it. I think you’ll find this to be a little more straightforward presentation of the key issues. Lyons Document Storage Corporation: Bond Accounting. In December 2014, Rene Cook sat in her cubicle trying to remember what she had learned in business school about bonds and bond accounting. Ms. Cook, a new MBA and special assistant in a training assignment with the company president, had just met with David Lyons, president of Lyons Document Storage Corporation. He had asked her to think about the possible consequences of repurchasing company bonds outstanding using cash that he felt could be obtained by issuing new bonds with a lower interest rate. My Lyons had asked Rene to focus on how much the company’s annual interest payments could be reduced, how reported earnings would be affected, and how the refunding would change the company’s financial position as referenced on the balance sheet, if at all. The Company The Lyons Company was a family business in the stationary supply business until the document storage opportunity appeared in the early 1990’s. Lyons Document Storage Corporation was incorporated...
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...Lyons Document Storage Corporation 1) Prior to maturity, a bond may be selling at either the face value or at an amount lesser than or greater than the face value. Bonds that sell at a price greater than the face value are said to be at a premium. Discount bonds sell at a price lesser than face value. The price at issue depends on the yield required by investors and the coupon offered by the bond. If yield required is greater than coupon offered, then the bonds will have to be issued at a discount to face value. If yield required is lesser, the bonds can be issued at premium. Regardless of required yield, the bond price will approach face value as the bond approaches maturity. - Cash received by Lyons from 8% bond issue (refer excel sheet):10,000 bonds @ PV = $9,079,920.78 (40 periods, 4.5%, $400,000 payment, $10,000,000 FV) - Recomputed amounts from balance sheet for 2006, 2007: $9,258,589.55 & $9,292,611.26 Recalculating the amounts for long term debt (at 6% effective rate) shown in the balance sheet 2007($) Bonds Payable Less: premium 10,000,000 2006($) 10,000,000 1,741,314,77 11,741,314,77 Unamortized 1,644,360.84 11,644,360.84 Carrying Value Current market value of bonds outstanding at current interest rate of 6%: $ 11,541,502.41 (10000 bonds) in Dec 2008. This assumed that yield demanded was 9% annually till 2008 and will remain at 6% p.a from 2008 to 2019. 2) If Lyons issues new bonds at 6% coupon, each bond would fetch $1000. So, to refinance the old...
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...Irenaeus of Lyon and Gregory of Nyssa make use of Scripture in their presentations with the use of and the reference of the likeness of God. How man was created out of the likeness of God. Irenaeus of Lyon talks about the perfection of God and how …”God was not born and always remains the same, he can do anything, as far as depends on himself.” (Irenaeus of Lyon pg. 23) God created things to be lesser than him and how everything needs to have a beginning to learn and grow. God could have created things to be perfect but he needed people to figure things out for themselves to raise a true heart to then be blessed and receive God upon death. Irenaeus of Lyon uses good and evil as references in his presentation and how everything is born with the understanding of good and evil and need to be tempted by this evil to find a true good. “By grasping the nature of what is opposed to the sweet and good, it will never again try to taste disobedience to God.” (Irenaeus of Lyon pg. 27) Gregory also uses the true of heart from scripture for his presentation over and over again; “Blessed are the pure at heart, for they shall see God.” (Gregory of Nyssa pg. 29) He references the apostles and how they say “for no one can see God and live” (Gregory of Nyssa pg. 29) How there is a promised blessedness throughout both presentations through the discovery of self and awareness of self. Wisdom is big in the presentation of Gregory of Nyssa. “It is possible, through the wisdom perceptible in...
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...Basic Rules for Kickball 1. Pitching: Each team will pitch to the other team. Pitchers must pitch from the pitching mound and cannot go in front of plate until the ball is kicked. Slow to moderate pitches only... If the kicker requests a slower pitch then the pitcher is obligated to do so. The pitcher should try his/her best to give the kicker a pitch that they feel most comfortable kicking. 2. Kicking: All kicks must be made by foot. A kicker can be called out if they get 3 strikes or 4 foul balls. A play ends when the pitcher has control of the ball and is near the mound/pitching circle. Any runner who interferes with the ball on its way back to the pitcher will be called out. 3. You may decide at the beginning of the game that players may or may not bunt. 4. The ball can be thrown at any player and must hit shoulder and below. The runner will be called safe if it hits their head unless they are sliding/ducking the ball. If a player is hit in the head they get the base they are running to. .No leading off or stealing is allowed. A runner off his/her base when the ball is kicked is out. 5. Absolutely NO WHINING ALLOWED. Umpires rulings are final!!! 6. Team members: You may put the teams together anyway you’d like. There should be 1 pitcher, 1 catcher, 3 in the base and two fielders in the outfield. 7. Player must stay out of the baseline; otherwise the runner advancing to the base will be called safe. Students that are playing a base...
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...The Lyon site has been occupied since prehistoric times and the first town dates Ancient Rome. A quote from the historian Fernand Braudel has the wealth and complexity of the history of Lyon: "The fate of Lyon is not simpler than the river. Every city, no doubt, is to be complicated, Lyon more than another, that strikes the historian by his wealth, his sudden transformations, its originality or its strangeness. It is not the same from one century to the next century and more constrained than going willingly, she spends endless originality to another. It is, in itself, a difficult problem of the historian of France, perhaps the key issue, surely clef20 indicator. ' Prehistory and Antiquity [edit] Main article: Lugdunum. Statue of Lucius Plancus Munatius, founder of Lyon. Model of Lugdunum, the former capital of the Gauls in the Musée Gallo-Roman Fourvière. The Neolithic to the second Iron Age finds many different tracks habitat and objects of every kind attest the existence of a relay wine trade between the Mediterranean coast and the north (sixth century BC. AD). In the absence of more sophisticated artifacts, we can not at this time about the village or ville21. On the Fourvière hill, they found thousands of amphorae. It is possible that this is a place where the Gallic chiefs gathered to feast in honor of the god Lug. Capital of the Gauls [edit] Lucius Plancus Munatius based on the site a Roman colony under the name of Colonia Copia Felix Munatia Lugdunum in 43 BC...
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...October 1929 Labor Gains Power * James Scullin Prime Minister * E. G. Theodore Treasurer * Joseph Lyons Railways Minister * James Fenton Trade Minister October 1929 Wall Street Crash– Depression begins Labor is seen as the champion of Workers Rights. However because of the Depression and the shortfall in funds, Labor is not able to finance social reforms. Indeed they are surrounded by debts that need to be paid off. June 1930 Otto Niemeyer invited to advise Australian on their response to the Depression arrives Otto Niemeyer believes in a deflationary approach to solving the problems of the Depression. He is supported by Joseph Lyons & James Fenton. E.G. Theodore – a supporter of the inflationary response to the Depression resigns because of Mungana scandal. Joseph Lyons appointed Treasurer August 1930 Melbourne Agreement * Deflationary approach agreed – to balance the budget by mid-1931 * Had Nationalist, conservative and right wing support and Lyons and Fenton’s support Not supported by Theodore or left wing of Labor party (Lang, Beasley) August 1930 Scullin leaves for Imperial Conference in London away until January 1930 appoints James Fenton as Acting PM. January 1931 Scullin returns reappoints Theodore as Treasurer. Both Lyons and Fenton resign from the Labor ministry. SPLIT 1 March 1931 Lyon and Fenton split from the Labor Party with four other Labor MPs. Joins with the Opposition to support a motion of no confidence in...
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...conduct: Mr. Lyons suggested to a client during his initial meeting with her regarding a dissolution of marriage, that she should work as an escort. He then proceeded to harass her with requests to have an affair with him or engage in various sexual conduct with him over the next several months she was his client. This behavior culminated in the client assisting law enforcement by accepting money from Mr. Lyons for sex in a police sting. Furthermore, Mr. Lyons coerced a client into a sexual relationship whom he was representing pro bono through a women’s shelter resulting in her relapsing and losing custody of her children. He also coerced another client into a sexual relationship which including offering payment for sex and committed an assault and battery upon her. In an incident unrelated...
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...Liar’s Poker Like many college graduates in recent years, Michael Lewis aimed at a career in investment banking. Unlike most of the others, Lewis did not take either himself or his ambitions with full seriousness. He majored in art history rather than economics at Yale; and, far from pursuing a career in the bond market with tenacity, he received his job as the result of an accidental meeting during a London dinner. The dinner in question, which Lewis describes with a sharp eye for the ridiculous, was one for the Queen Mother Elizabeth. Lewis found that his job at Salomon Brothers was paradoxical. On the one hand, as an analyst, he was the lowest of the low and often functioned as an errand boy for more senior members of the firm. On the other hand, he had the power to engage in trades that involved millions of dollars. The training program at Salomon Brothers was reputed to be the best in the world and virtually guaranteed its graduates a successful career in the market. Further, the lucrative bonuses available to the analysts meant that men (and a few women) in their mid-twenties might earn several hundred thousand dollars a year. Lewis soon discovered that the job contained many drawbacks. The workload was intense, and many of the analysts developed odd quirks, such as eating binges, as a result of stress. Competition led to frequent attempts to hijack the deals made by others. A veteran of business infighting deprived Lewis of the credit due to him for his most successful...
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...With these developments, it is obvious that conflicts between parties of different nationalities occur and liability to tax on income of foreigners especially among those engaging in trading venture. Whilst the laws affecting domicile and residence may be sufficiently settled, it is paramount for courts to pursue a detailed analysis to ascertain specific preliminary issues so as to avoid controversial rulings. Courts often handle numerous financial cases that involve what can be best described as foreign or international elements. In such cases, court must decide whether it has the jurisdiction under the Family Law Act 1975 to make a decision on such cases. In the event that it is determined that the court is invested with the jurisdiction to determine the case, the court has to consider whether there is a system of law in foreign country that also has the jurisdiction to handle the case. As it was addressed in the case Attorney General of New Zealand v Ortiz [1984] AC 1, these benefits and costs to either party if the case resolution is made in foreign country as compared with the apparent country should also be a subject of concern. [1] Legal systems in most countries around the world adopt community property regime, which takes effect at the inception of marriage or at the time of divorce. For instance, California and Massachusetts in the United States have adopted community property regimes that support equal division of assets upon divorce. However, this provision...
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...Adapted from Bernhardt & Kinnear (1988). Cases in marketing management, pp. 6-16. Plano, TX: Business Publications, Inc. Pay careful attention to the following points. They are often used by instructors to evaluate either a written or oral analysis. 1. Be complete. Each area of the situation analysis must be discussed, problems and opportunities identified, alternative presented and evaluated using the situation analysis and relevant financial analysis, and a decision must be made. An analysis that omits part of the situation analysis or only recognizes one alternative is not a good analysis. Second, each area must be covered in-depth and within insight. 2. Avoid rehashing case facts. Every case has a lot of factual information. A good analysis uses facts that are relevant to the situation at hand to make summary points of analysis. A poor analysis just restates or rehashes theses facts without making relevant summary comments. 3. Make reasonable assumptions. Every case is incomplete in terms of some piece of information that you would like to have. A good case analysis must make realistic assumptions to fill in the gaps of information in the case. For example, the case may not describe the purchase decision process for the product of interest. A poor analysis would either omit mentioning this or just state that no information is available. A good analysis would attempt to present this purchase decision process by classifying the product and drawing upon real life...
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...are given. It is understandable then that we should seek out more opportunities to apply our skills and make more positive impacts within our jurisdictions. It is this general attitude that led us to get involved in investigating cold cases. How We Got Started Mark had, for several years, been consulting with our Coroner’s Division as a forensic anthropologist. During this time he came to learn that there were numerous coroners’ cases in which the identity of the decedent was unknown. These cases were kept in three-ring binders on a shelf in the Sergeant’s office. Over the years, in the course of this forensic work, we would discuss these cases and the progress that was being made on them. The conversation usually ran along the lines of us asking “any luck with that 1980 homicide victim?” and the sergeant answering “well, we’ve gotten so many new cases that I haven’t been able to even look at it yet.” This went on for a few years and through two different sergeants. One day we, as a crime analysis unit, were brainstorming about how we could broaden our “client base”, as it were. We had been successful in integrating ourselves into our Investigations Bureau and had been involved in numerous major cases. And, of course, we had always been active in producing tactical and strategic analyses for our patrol personnel. But we knew that we could be doing more, particularly given the size and responsibilities of our agency. It was during...
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...BUSINESS CASE Presented to the Accountancy Department De La Salle University In partial fulfillment Of the course requirements In ACCTBA2 (C33) March 2, 2015 A stakeholder is typically concerned with an organization delivering intended results and meeting its financial objectives. In general, a stakeholder can be one of two types: internal (from within an organization) or external (outside of an organization). The stakeholders in this situation are Lanie Marquez and Tim Rodriguez who are also partners in the retail distribution business and their capital contributions are as follows P500,000 and P300,000 respectively they are an internal stakeholder since they are also the owners. The total Capital of both stakeholders is P800,000 and with a monthly salary for both partners at P15,000 on the assumption that both of them will contribute to manage the business equally. Assuming that both managed the business equally the total salary for the year for Lanie and Tim are P180,000 each. They share profit and loss equally and no interest will be given on capital contributed. The problem for this situation is that Lanie is starting to get concerned with the behavior of her other partner Tim. He only manages the business 50% of the time, which will mean that his salary of P15,000 will need to decrease by also 50% since he does not manage the business equally with his partner. The business has seen a downturn in the profit outcome and for the current financial...
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...Ralph’s Grocery and United Food and Commercial Workers Union The case that I chose for the week 6 critical thinking assignment concerns Ralph’s Grocery Company, located in California. It applies to this week’s material due to the fact that the case involves unlawful suspension and discharge of an employee, as reviewed by the National Labor Relations Board. Background In May 2011, Vittorio Razi was an employee at Ralph’s Grocery and was suspended and terminated after he refused to take a drug test without first consulting with his UFCW Local 324 representative. The company (Respondent) says that on the day in question, Razi’s behavior was in question, acting nervous, anxious, agitated, and slurred speech. After a couple managers discussed the...
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... Many people wonder why their own teeth stain so easily. The enamel on your teeth and chromogens are what stains your teeth, but what exact beverage stains teeth the most? I chose this topic because I was curious to know what stains teeth the most. It affects us daily because it could rot your teeth or you can’t pick up hot chicks anymore. So what causes teeth to stain? The temperature causes teeth to expand or contract making it easier for stains. So hot and cold drinks affect that. Color in foods and beverages come from chromogens. Chromogens are intensely pigmented compounds that stick to teeth enamel. Chromogens cause a lot of trouble when they mix and react with other stain causing and stain promoting factors. Tannis may be natural or synthetic tannis is another factor that stains teeth. Tooth enamel is porous making it extremely susceptible to stains. The darker the liquid the darker the stain. There are some examples that stain teeth. Not only sodas bad but also Gatorade. Beets are bad for you also. Mostly cause they’re concentrated. Berries dark skins stain teeth. Ketchup is also really bad because of its bright red color and high levels of acid. Dark liquids and sauces you put on your foods also stain teeth. Colored candy and popsicles both contain colorants that will transfer to the teeth and embed in the porous enamel. Fruit juices, especially grape and cranberry, leave a colorful tinge on the teeth and tongue. Colored sodas instantly discolor teeth. The citric acids...
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...efficient investigative products and services. As a result, the coverage requirements for ANACI and NACLC investigations have been enhanced to support a common content baseline for all agencies. Note that these enhancements apply only to those ANACI and NACLC cases submitted on an SF 86. The purpose of this FIN is to provide you with information concerning what case coverage changes have been made. The case price adjustments necessary to support these changes will be reflected in the FY 2007 case prices. ANACIINACLC Cases Currently, listed and developed issues which are identified in ANACI and NACLC cases (for non-DoD customers) are not pursued beyond the normal scope of the investigation. These cases are returned to the requesting agency so that the agency may decide whether to adjudicate the case based upon the information in hand, conduct additional follow-up themselves, or request a Reimbursable Suitability Investigation (RSI) from FISD to cover the additional issues. Beginning with FY 2007, expansion of these issues will become a standard part of both the ANACI and NACLC products. Effective October 1, 2006, issues apparent at scheduling or developed during the course of the investigation and which fall within the 5-year case coverage period, unless otherwise noted, will be expanded upon according to the following chart (exception: issues which are known to have been covered in previous investigations, or which would reasonably have been expected to...
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