...Merrill Lynch in Japan Sheila Kennedy MGT/448 Gary Solomon April 4, 2011 Merrill Lynch’s first endeavor to penetrate the market of Japan was unsuccessful because their marketplace was not synchronized to acknowledge international companies. However, in 1997 the situation changed in the World Trade Organization (WTO) contract for enhancing overseas firms to promote financial services to national investors. This was the beginning of a new age in the global market. Previous experience made investors hesitate to come into the Japanese market, but also made it abundantly clear that effects have changed with a enormous amount of assets and an open market owned by households in Japan were too attractive of opportunity to pass up. Merrill Lynch’s timing was perfect because there were only a few other foreign competitors with preceding experience in confidential consumer market, which made the transition more accommodating. In 1997 when Yamaichi Securities obtain bankruptcy, was an ideal opportunity for a company from American to enter Japanese market. Although first considering a joint endeavor this would permit the minimum expenditure as developing an ability to utilize an accessible distribution structure of a well-known bank of Japan. The flipside they did not observe their existence on the market because this ventures in the extensive flow, therefore Merrill Lynch began reconsidering the agreement and were fortunate to hire employees and buy branch offices of Yamaichi's...
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...considered. "The investment banking industry has changed as a result of the financial crisis," said Global Finance publisher Joseph D. Giarraputo. "The best institutions are those that have a business model focused on customer needs." For editorial information please contact: Dan Keeler, Editor, email: dan@gfmag.com GLOBAL AWARDS | Best Investment Bank | Morgan Stanley | Best Equity Bank | Morgan Stanley | Best Debt Bank | Barclays Capital | Best M&A Bank | Morgan Stanley | Best Up-and-Comer | QInvest | Most Creative | Bank of America Merrill Lynch | SECTORS | Consumer | Credit Suisse | Financial Institutions | Bank of America Merrill Lynch | Health Care | J.P. Morgan | Infrastructure | Scotia Capital | Industrial/Chemicals | J.P. Morgan | Media/Entertainment | J.P. Morgan | Metals & Mining | BMO Capital Markets | Oil & Gas | Bank of America Merrill Lynch | Power | Morgan Stanley | Real Estate | J.P. Morgan | Technology | Credit Suisse | Telecom | J.P. Morgan | REGIONAL AWARDS | NORTH AMERICA | | Best Investment Bank | Morgan Stanley | Best Equity Bank | Morgan Stanley | Best Debt Bank | Barclays Capital | Best M&A Bank | Morgan Stanley | WESTERN EUROPE | |...
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...Lewis, the former CEO of Bank of America, was confronted with an enormous predicament when Ben Bernanke and Henry Paulson requested that his company immediately acquire Merrill Lynch to save them from declaring bankruptcy. With the financial system of the United States on the verge of collapsing, how do you say no to the Federal Reserve Chairman and the Secretary of the U.S. Treasury? Thus, Lewis agreed. Now fast forward one year later to September 2009. At this time, Lewis has agreed to step down as CEO. He has also been indicted for fraud for “deliberately misleading his shareholders about the ballooning losses at Merrill Lynch” before the bank bought the firm, which includes failing to disclose the year-end bonuses that were paid out to Merrill executives (Fitzpatrick and Eckblad). Furthermore, this begs two questions: what ethical dilemma was Lewis facing during this crisis and how could he have better handled the request from Bernanke and Paulson? Assuming I was Ken Lewis when Bernanke and Paulson requested me to acquire Merrill Lynch, I believe I would have gone through with the acquisition as well. According to House Republican staffers in a memo obtained by Bloomberg, “the Federal Reserve and U.S. Treasury overstepped their authority and pressured Bank of America to complete its Merrill Lynch purchase” (Lanman and Torres). The memo also stated that: “a gun was placed to the head of Bank of America [Lewis] to go through with the merger. Government officials crossed the...
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...English 225 Introduction To Film Instructor: Name Date The film “The Elephant Man” is an iconic and powerful humanistic filmmaking endeavor. Director David Lynch forces the horrors and sadness of deformity onto the audience in a way that leaves the viewer tear choked with sadness and sympathy. Most people who watch the film are touched in a way that alters their view of the crippled, weak, and deformed persons of the world. The creation of the film begins with Joseph Merrick’s incredible story being written into a play by Bernard Pomerance in 1979. This play is still performed from time to time. Lynch’s film version was released the following year, but was not derived from the play but did give Lynch his inspiration. Lynch based his film version of Merrick’s life on various biographical sources most of which were Merrick’s own words in his memoirs. The script, written by Lynch, contains information based upon Merrick’s memoirs and biography, as well as from Frederick Treves’ personal accounts. As far as historical accuracy is concerned, certain details have been altered to make the story suitable for film. For example, Merrick is referred to incorrectly as “John“. This inaccuracy is however, a perpetuation of the error that was made in history according to Frederick Treves’ account of the story. Lynch in an effort to maintain realism botches the name purposely but fails to make this understandable to the viewer. This is however not an error in writing or research...
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...soldiers the title of hero. Jessica Lynch was one Soldier who was given the title hero. Was she truly a hero? What actions merited such a label? Pat Tillman also received the coveted title of hero, despite much controversy. Pat Tillman’s label of heroism occurred because of his strong social status. However, the word hero in Tillman’s case was misused to disguise actual events or cover up the misfortunes of war. Shoshona Johnson would be called a hero as well. Shoshana Johnson and Lynch were captured the same day but because of race, one hero would receive more accolades than the other. These soldiers wanted to share the truth, but media’s opportunity to transform them into hero took precedence. All of these heroes received differential treatment based on their gender, race or social status. Jessica Lynch seemed to be the perfect candidate to depict as an American Hero. Lynch is 5’6, 130 lbs. with blonde hair and blue eyes (Fluharty). With Barbie doll like qualities, Jessica not only served as an American Soldier, but possessed the beauty necessary to attract attention of viewers and develop a great story. The War on Terrorism has allowed news anchors to televise and participate in more combat related events than ever before, yet truth is often skewed to give a better news line story. The events that led to her capture in Iraq in 2003 were exaggerated from the very beginning. Reports stated that the ambush resulted in “…Jessica Lynch being taken prisoner full of stab...
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...When Dennis Kozlowski became CEO of Tyco International he reincorporated the aggressive management style and lavish lifestyle of mentor and former CEO Joseph Gaziano. During his tenure as CEO, Kozlowski seemed to have a lot of control over what the company did. He acquired many acquisitions, one of which was to expand the company into noncyclical industries since cyclical industries were one of the company’s weak points. He did this by acquiring and reviving Kendall Company from bankruptcy and rebuilt the company to be the core of the “new Tyco Healthcare Group.” This double earnings, which pleased the board of directors, who gave Kozlowski a salary increase. Kozlowski also acquired ADT Security Services, which happened to be a British-owned company located in Bermuda. This allowed Tyco to create offshore subsidiaries to shelter their foreign income from U.S. tax. Sheltering foreign income from U.S. tax is not illegal, but it can certainly be considered unethical. Under U.S law, there are two provisions that allow companies certain benefits with regard to foreign income. One of these benefits is the foreign tax credit, which allows a company to reduce the U.S. marginal tax rate by the foreign marginal tax rate, so the company is not double taxed. The other provision allows companies to delay paying taxes on foreign income indefinitely unless the profits are brought onto the parent company’s books. So, while Tyco sheltering its foreign income is not illegal, it is...
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...1. The high-profile person who I have selected for the ‘Google Gotcha’ Activity was Martha Stewart. 2. The internet generally has positive things to say about Martha Stewart, while there are articles that do talk about her insider trading scandal most of the articles that I found after quite a lot of searching showed her in a positive light for all the positive things that she has done in the past and currently. 3. The information that has been collected and shared about Martha Stewart include: her birthdate (August 3rd 1941); a plethora of pictures; a fan mail address; the website that I found dealing with Martha Stewart was http://www.marthastewart.com/; a blog I found was http://www.themarthablog.com/; some social media accounts that I found dealing with Martha Stewart were her Twitter, Instagram, Facebook, Pinterest, and her LinkedIn. 4. The information I collected about Martha Stewart and her online presence mainly benefits her because while there are the articles that deal with her scandal dealing with insider trading. However, most the things that are online are dealing with the good that she and her magazine (Martha Stewart Living) are doing. It feels like Martha Stewart uses an ‘Online Reputation Firm’ because some of her tweets to promote a positive image are very robotic and seem a little too good for a single person to create. One example of this would-be Martha’s tweet that stated: “A great article from @wsjlife on some of my favorite high-tech gear for use around...
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...A lot has been said about the Coen Brother’s cinematic masterpiece Fargo, but FX’s TV adaptation is now getting all the attention. If you enjoyed either of them, we invite you to keep reading and find out 15 fun facts about both productions. Stay tuned for part two, coming very soon! Number Fifteen: It Was Almost a Show in the ‘90s 11 years before FX’s Fargo came out, Kathy Bates had already attempted to turn the Coens' cult classic into a TV series. She directed a pilot episode starring Edie Falco, which was sent to all major networks. None of them picket it up. Number Fourteen: There’s a Movie about a Woman Who Tried to Locate the Briefcase Kumiko, the Treasure Hunter, which came out to critical acclaim in 2014 , tells the story of a jaded Japanese woman who travels all the way from Tokyo to Fargo just to find the suitcase Steve Buscemi buried in the snow. The story is based on an actual urban legend: Takako Konishi, who was found dead in Minnesota in 2001, was rumored to have frozen to death trying to locate the suitcase from the movie, believing it to be a real story. Investigators later concluded that she actually just committed suicide due to severe depression. Number Thirteen: The Movie Got Some Midwest Backlash Citizens of Minnesota and North Dakota did not quite enjoy the Coens' movie. In particular, they seemed to detest the over-exaggerated accent spoken in the film. Fargo's mayor at the time commented: “It's a movie that people who don't live here seem to enjoy...
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... Life’s a journey. Enjoy the ride. Because I’m worth it. Maybe she’s born with it… Feel like a woman. Dangerously entertaining. Oh, the possibilities. It’s something to do with your brain. Live in your world, play in ours. I don’t want to grow up… We keep your promise. Be absolutely sure. Neither rain, nor snow, nor gloom of night stays these couriers from the swift completion of their appointed rounds. Be bullish. We make money the old fashioned way…we earn it. Turning dreams into reality. Membership has its privileges. Don’t leave home without it. There are some things money can’t buy. For everything else, there’s Mastercard. You’re in good hands. Like a good neighbor… See what you’re missing. Think different. Think random. Merrill Lynch Smith Barney Citibank American Express Mastercard Allstate State Farm Insurance Epson printers Mac iPod Shuffle Commercial Slogans List US Army US Air Force McDonald’s Be all that you can be. The Sky’s the limit. - I’m lovin’ it. - We love to see you smile. - You deserve a break today. - Do you believe in magic? Eat Fresh. What you crave. - Have it your way. - Sometimes you have to break the rules. - Think outside the bun. - Yo quiero… - Head for the border It’s better here. Obey your thirst. Melts in your mouth not in your hands. Is it in you? Life’s...
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...PROPOSED MBA RESEARCH TOPICS SOFTWARE ANALYSIS BUSINESS DECISION IMPACT ON PEAK FINANCIAL PERFORMANCE CONTAC T INFORMATION Primary Contact: Dawn Simon Director, Co-Manager Equity Technology Team Merrill Lynch Investment Managers 800 Scudders Mill Road Plainsboro, NJ 08536 Phone: 609-282-0328 Fax: 609-282-6597 Secondary Contact: Martin Seyffert Research Associate Equity Technology Team Merrill Lynch Investment Managers 800 Scudders Mill Road Plainsboro, NJ 08536 Phone: 609-282-6632 Fax: 609-282-6597 UNDERLYING ASSUMPTION We specialize in technology equity portfolio management. As a subset of this work, we also examine the timing and relationships within software companies of the following variables: 1) R&D cycle; 2) product deployment period; 3) sales cycle; 4) contract duration; and 5) "disposable life" of software. Our assumptions may, or may not, be valid. Our assumptions are as follows: The technology industry is in a state of flux with the duration of the above listed items completely mismatched within companies. The mismatched time horizons are causing more volatile stocks, stemming in part from, less stable financial performance for software companies. We believe that faster development cycles and Internet-based distribution channels have accelerated parts of the business, while R&D cycles and contract duration have not yet been adjusted - or even recognized as an issue within many companies. Below are the specific areas we...
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...move by the bank was ignited because of the pressure from shareholders who believe that bankers are overcompensated. In order to increase shareholder returns, jobs need to be cut and this is because compared to the revenue of the banks compensation is too high. The pay/revenue ratio needs to be lowered and Deutsche Bank has acted on it by paying the top 150 managers the deferred part of its bonus only after five years. Right now, the total compensation for many bankers does not reflect their contribution to the company. Profits declined sharply in 2011 by 51% but bonuses did not drop relative to the profits instead it dropped by only 13%. During the financial crisis, many banks were being bailed out with taxpayer dollars but Merrill Lynch and other banks still paid out handsome bonuses to its employees. There is no accountability in the banking industry and bank executives are getting compensated the...
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...Accounting & Finance Cyber-duck: https://www.cyber-duck.co.uk/insights/this-week-at-cyber-duck-22/ Information Tech Mott-macdonald : https://www.mottmac.com/careers/graduate/ Civil and structural engineering, construction and building service Prop Studios: http://www.propstudios.co.uk/#!newsletter-mailing-list/c1i3r architecture and Design Tk maxx: http://www.tkmaxx.com/content/ebiz/tkmaxx/resources/careers/graduate-scheme/index.htm retail Space property group: http://spacesproperty.com/jobs/intern/ property management North rose bulbright: http://www.nortonrosefulbrightgraduates.com/en/united-kingdom/apply law Redgate: https://www.red-gate.com/our-company/careers/current-opportunities internet Bank of America Merrill lynch Mckinsey Madgex ltd Lloyds banking Barnes roffe Ocado Plymouth university Citi Sky EDF Energy RBS Qube Global...
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...Career Paper Gabriel Jackson ACC121 Baker College of Flint This world we live in operates with money, without accounting, money isn’t used properly. Everyone who wants to live successfully, needs accounting. Accounting is the process of keeping financial accounts. Unless someone wants to keep their life savings in their home where it could be stolen or destroyed, your money can be managed through accounting; and if you don’t want to do it, get an accountant. I believe accounting is the most convenient way to keep track of your money. It can help you figure out how much money you’re spending, how much your making, how much you need to make, and how to make it at a certain time. You can have an accountant or even be an accountant. Businesses need accountants to make sure they are getting revenue; businesses hire for different accounting jobs such as plant controllers and accounting managers. Businesses like Atlas, Six flags, Cedar Point, and Grain Systems Inc. (GSI) hire a team of accountants because it is a lot to handle in accounting and they don’t want anyone making mistakes and misreading important information. Accountants can be the most important job in a business, without an accountant, the business won’t know if they have gone bankrupt or not. Many people need accountants because they don’t have time to sit and look at net income, expenses, cash flow, etc. You can be an accountant for Auditors, CIA agents, FBI agents, and Tax Lawyers. These type of people make...
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...savvy people who worked closely with their portfolio companies to bothmonitor and guide them to a point where they have turned a business idea into a well-managedfully functional company that could stand on its own and nurture the companies until they reacheda point where they were ready to face the scrutiny of the public capital markets after an IPO.Examples include Axiom Ventures, Seqoia Captial, Bain Capital Ventures. 2. Investment Bank Underwriters: Investment banks provide their expertise to companies to go publicor make subsequent public offerings and introduce them to investors. They provide advisoryfinancial services, help companies price their offerings and also underwrite the shares. Examplesinclude Goldman Sachs, Merrill Lynch and Morgan Stanley.3. Sell-Side Analysts: Sell side analysts publish research on public companies. They provide their ideasto buy side analysts, portfolio managers and money management companies by talking to themanagements of the companies, following trends in the industry and making buy or sellrecommendations on the stocks.4. Buy-Side Analysts: A buy-side analyst performs industry research, talks to the companies'management teams, provides earnings estimates, does valuation analysis and rates the stock prices of the companies as ‘sells’ or ‘buys’. Buy-side research is not published but a buy-side analyst has toconvince portfolio managers in the company to follow his recommendations.5. Portfolio Managers: A portfolio manager...
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...Corruption in International Business-Caselets 1. McDonald's in China * I think Mcdonal's should not pay the fees. It was subject for 31 fees which do not have any connection with McDonald's and its business. This is the example of petty corupption, where private actors interact with low lever buraucrats. If this was legal, city bureaucrats would not appear to be within discrection to impose the fees. 2. Enterprise Investors in Warsaw, 1990 * I think they should pay the fee if they want to open its Warsaw office at this period of time, because they can not do business without telephones. But I think they should consider other countries as well to see if they can open immediatly without paying HOOKUP FEE. Because this paying is just a loss for their company at very beginning. This is example of petty corruption. 3. Alpha Media in Budapest, 1994 * This is example of petty corupption because if the firm pays $45000 for local accountat which clearly works with local tax inspection he will straighten the firms books. Even though this is corruption, for the firms well beign they should hire the consultat because if inspection goes over books for longer period the company will have to pay more compliance fines.. So, he will be good for this period and also he will be good for the firms future too. 4. Gulf oil in Korea, 1966 -If the Gulf will not make the contribution, I suppose this party would do everything to ruin their sucessful business...
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