...9-209-001 REV: NOVEMBER 3, 2010 C. FRITZ FOLEY ROBIN GREENWOOD JAMES QUINN NEC Electronics In early July 2007, Alp Ercil, Managing Partner and portfolio manager of Perry Capital’s (“Perry”) Asian portfolio, was considering options for how best to manage the $150 million position his firm had in NEC Electronics (NECE), the semiconductor subsidiary of Japanese electronics conglomerate NEC. In recent days, the NECE subsidiary had garnered Ercil’s full attention. On the heels of attending NECE’s annual meeting, he had learned that the Tokyo Stock Exchange (TSE) was placing NECE on a watchlist for possible delisting due to its concentrated ownership structure. To Ercil, this was yet another sign that the investment was not going as planned - the stock was down considerably since Perry initiated the position in late 2005 (see Exhibit 1). Ercil took a moment to reflect on the recent history with NECE. When Perry Capital made the initial investment in 2005, Ercil had every expectation for success. Ercil’s team felt that NECE’s microcontroller unit (“MCU”) business,1 which supplied chips to major automobile manufacturers, operated at a world-class level with high growth potential and solid margins. NECE’s Computing, Consumer and Discrete businesses were generally competitive. However, the Communications business, which supplied semiconductors for mobile phones, appeared to be a constant drag on NECE’s cash flow and earnings. Specifically, Perry believed that NECE...
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...Why shares of NEC Electronics, a publicly listed subsidiary of Japanese conglomerate NEC traded at a discount to their fundamental value? Maybe Perry Capital, the U.S. hedge fund, the restructuring of the subsidiary and to generate significant profits? This event gives students the opportunity to analyze the decision to invest in Perry NEC Electronics. However, he asked the reasons that the NEC can take actions that destroy value and shift the value of minority shareholders Nese. Events covered allow discussion of how the concentration of ownership hinders restructuring alternatives like hedge fund investors can resist the controlling shareholders, and as underestimating the cost of institutions can lead to ownership structure, which allows the expropriation of minority shareholders. Why do shares in NEC Electronics, a publicly listed subsidiary of Japan conglomerate NEC trade at a discount to their fundamental value? Can Perry Capital, a U.S. hedge fund, restructure this subsidiary and generate significant returns? This case provides students with an opportunity to analyze Perry's decision to invest in NEC Electronics. In doing so, it asks for the reasons that NEC might take actions that destroy value and shift value away from NECE's minority shareholders. The events covered allow for a discussion of how ownership concentration constrains restructuring alternatives, how hedge fund investors might confront controlling shareholders, and how the mis-pricing of agency costs can...
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...its efforts to protecting lives and property through education. The organization provides many resources for fire, electrical, and life-safety instructions. UL: was known throughout the 20th century as Underwriters Laboratories and participated in the safety analysis of many of that century's new technologies, most notably the public adoption of electricity and the drafting of safety standards for electrical devices and components. UL provides safety-related certification, validation, testing, inspection, auditing, advising and training services to a wide range of clients, including manufacturers, retailers, policymakers, regulators, service companies, and consumers NEC: a Japanese multinational provider of information technology (IT) services and products, with its headquarters in Minato, Tokyo, Japan. NEC provides IT and network solutions to business enterprises, communications services providers and to government agencies, and has also been the biggest PC vendor in Japan since the...
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...Case Study IKEA “We chose UNIVERGE® SV8100 because you get exactly what you need - nothing more, nothing less. But also with a completely open road to future expansion and add-ons. The Business ConneCT call handling system was also way ahead of anything else I’ve seen. Although it is very advanced it is also very easy to customise to our daily changing parameters.” Ölvir Styrr Sveinsson Customer IKEA, Iceland Industry Furniture retailing Challenges • Call response efficiency Solution • UNIVERGE® SV8100 • Business ConneCT • 60 DECT handsets • 12 SIP-based Access Points Results • Six-fold increase in service level IT Manager, IKEA Iceland Challenges The Icelandic store of the world’s biggest furniture retailer IKEA has more than 250 employees and services a population of 320,000 people. Each day hundreds of telephone enquiries come in from customers asking about opening times, product delivery schedules, installation issues and many other topics. As a famously customerfocused organization, IKEA wanted to answer all of these calls as quickly, efficiently and as friendly as possible. Unfortunately, the telephone system that the store was using had limited monitoring and reporting systems. So it was impossible to know how many customers were calling and how quickly they were being answered. And even more importantly, it could not indicate how many customers were abandoning their calls due to frustration of long queues. www.ikea.is www.nec-unified.com IKEA Solution After an in-depth...
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...Ernest S. Bledsoe Bledsoe 1 Professor Philip Saxena English 1A A cheap upgrade for your old computer To those of you who have an Intel 8088 Microprocessor based computer, and want to buy a new machine but cannot afford it. There is an easy, inexpensive upgrade you can do to increase the performance of your old machine about 60%. (This is based on the Norton Utilities: SYSTEM INFO; computing and performance indexes). The upgrade can be done by replacing the Intel 8088 Microprocessor with a new NEC V20 Microprocessor. I first read about the V20 in an article, in PCM Magazine, June 1989. The article stated that the V20 was a pin for pin match to the 8088. Its internal architecture was different, so it processed data 75% faster. The chip cost less than $15, and sounding provocative I ordered it. I wanted to buy a new computer anyway, and I thought if I blew up my old one, I was not going to lose much. My old computer was a Tandy 1000EX. A dependable workhorse, but slow by today's standards. The original IBM-XT is the basis for all computer test ratings. Its computing and performance indexes have been set, by the industry, to 1.0. For reference, I tested my computer's performance before and after I installed the new processor. Bledsoe 2 Before installing the V20, my computer ran slightly faster than the IBM-XT with a reading of 1.4 on both the...
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...ventures – chemical, electronics, ceramics, and construction materials. The diversification into the various industries as noted above was very successful, as by the 1950 to early 1970’s following the second world-war Asahi’s glass and construction materials business accounted for more than 50% of its total revenue, and its chemical business at 40% and other business segments including electronics and ceramics contributing to 10% of the company’s total revenue. By 1992, the company’s glass (flat glass) business segment contributed 56% of total sales and revenue making it the most profitable segment out of the four diversification business segments. I believe AGC’s diversification was much needed post the second world-war, as it helped serve as the foundation to emerging technologies and manufacturing of newer consumer products – cements, automotive lighting, paints, chemicals such as chlorofluorocarbons – CFC for refrigerators and air conditioners. Following the oil crisis in the early 1990’s, AGC management – then President Mr. Sakabe decided to focus on the company’s electronic segment business because of its growth potential and having some expertise in the electronic industry. Furthermore, AGC top management had a goal of developing electronics to generate 10% of the company’s revenue within the next 10-years after its decision in the early 1990’s to focus on the electronics industry. In hindsight, the decision to focus on the electronics segments proved to be...
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...The changing legal idea about computers is that its a trend forcing police to change the way that they investigate crimes and obtain search warrants. A computer or personal electronic device can no longer be seen as just a thing, it should be viewed as a place said Mr. Justice Thomas Heeney. Recent case laws holds that because a computer can contain such huge amounts of personal information, it should be regarded as a place. Mr. Rafferty's laptop was essentially warrant-less and so had violated his Charter of Rights against unreasonable search and seizure. This precedent stemmed from another high profile murder case in 2007 which was a Markham salesman killing his estranged wife and another woman. His cell phone was going to be examined for trace evidence of blood splatter, but the scrutiny of its contents inside needed a second warrant. The plain view principle could not be applied in this case. That simply involves common sense because none of the contents in the computers were in plain view. Two other legal skirmishes that the jury never heard about were 1- several inconsistencies in various statements made by witnesses and 2- The inconsistency in Ms. Mcclintics initial claim of Rafferty being the one to smash Tori's skull, and later she said that she wielded the murder weapon. They also missed the episode in the court room when two people tried to snap pictures of Rafferty which is extremely illegal in a court room. I do not believe in the fact that evidence should be...
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...In Electronics, Japan Still Matters Posted by: Bruce Einhorn on March 17, 2011 In the global technology industry's pecking order, Japanese consumer electronics companies long ago surrendered their top spot to more nimble competitors like Samsung Electronics andApple. Many of the country's chipmakers also struggled as competitors in Korea and Taiwan thrived. Meanwhile, marketing executives at major multinationals turned their attention to China and India, the world's new economic powers. For many, Japan was largely an afterthought, a declining power with an aging population. The turmoil following the March 11 earthquake has provided a rude reminder that, when it comes to the global electronics industry's supply chain, Japan still matters. The country's factories produce about one-fifth of the world's semiconductors and 40 percent of electronic components. Japan's Mitsubishi Gas Chemical and Hitachi Chemical combined make almost all of the world's BT Resin, a raw material used in chip packaging, and Hitachi Chemical has 70 percent market share for a type of chemical slurry used by semiconductor producers for polishing chips. Tech executives and investors therefore should be worrying about a prolonged shutdown of production in Japan, where many factories are closed and there's no clear sign of how much damage they suffered or when they might reopen. Typically, big chipmakers likeTaiwan Semiconductor Manufacturing Co. keep between four to six weeks of supply, so uncertainty about...
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...You are the news director of a local television station. The city council has just voted to close city parks 3 days a week to save money. Meanwhile, a major celebrity has died. The park story has greater effect on your viewers, but the celebrity death will get bigger ratings? Which do you make your lead story and why? o Your news organization is owned by a massive corporation that also owns an electronics company. It has learned that the refrigerators the electronics company makes are fire hazards and have destroyed several homes. How do you cover the story and how do you acknowledge that you are owned by the same corporation? o You are the chief editor of a large metropolitan daily newspaper. One of your reporters is caught fabricating sources and making up facts. How do you handle the situation, from disciplining the reporter to explaining it to your readers? . Solve the problem using what you have learned. Solutions must be realistic. If you think cable news networks do not have enough foreign coverage, for example, it is not enough to say you will simply hire more reporters. You must say where that money will come from. Be creative, both in the identification of the problem and, especially, in the solution. . Include the following: o The role of media in delivering news to the public o The significance of immediate news media delivery on culture o The social responsibilities of news media. o Ethical and legal considerations...
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...4. Significance and Justifications for the Study The study of E-learning effectiveness is important. It is because we have to define that whether learning by using electronic media or through the Internet is effective or not. Nowadays, technology have helped human in all types of activity including education. This is what we can see in our daily life. Although technology is getting more advances, but there is not necessarily that it can help a lot in education field. Throughout this research, we have to find out the factors and how the factors affect the effectiveness of E-learning. Since technology nowadays is advances than older time, people would rely on electronic device. So, E-learning will be more practical and effective since people nowadays will have more interested on learning by using the combination of technology and education. Besides, with the Internet available, knowledge can spread widely. This can foster the process of learning and people can gain knowledge faster. E-learning may benefits to all of the users which means both of the learners and instructors. Let’s say if a company chooses to train their employee by using E-learning, this may result to material cost decrease. It is because the company doesn’t have to prepare an operating room just for the training purpose. E-learning can be flexible because the learners can study anywhere and anytime as long as there is device and also connection available. The advantages of E-learning are yet...
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...Moore's law is the observation that, over the history of computing hardware, the number of transistors on integrated circuits doubles approximately every two years. The law is named after Intel co-founder Gordon E. Moore, who described the trend in his 1965 paper.[1][2][3] His prediction has proven to be accurate, in part because the law is now used in the semiconductor industry to guide long-term planning and to set targets for research and development.[4] The capabilities of many digital electronic devices are strongly linked to Moore's law: processing speed, memory capacity, sensors and even the number and size of pixels in digital cameras.[5] All of these are improving at (roughly) exponential rates as well (see Other formulations and similar laws). This exponential improvement has dramatically enhanced the impact of digital electronics in nearly every segment of the world economy.[6] Moore's law describes a driving force of technological and social change in the late 20th and early 21st centuries.[7][8] The period often quoted as "18 months" is due to Intel executive David House, who predicted that period for a doubling in chip performance (being a combination of the effect of more transistors and their being faster).[9] Although this trend has continued for more than half a century, Moore's law should be considered an observation or conjecture and not a physical or natural law. Sources in 2005 expected it to continue until at least 2015 or 2020.[note 1][11] However, the...
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...Solomon Americans do not read as much as we should which will have negative consequences when it comes to the heath, politics and education. According with Solomon, The National Endowment for the Art made a survey that indicated people who read are active in the community. For example, people who like to read will go to museums and musical performances more often, and perform volunteer and charity. This is compared to non-readers, who have little to no active engagement with the community. The author declares that electronic media can be dangerous for nonreaders because most people use television or other electronics as a means of relaxing, consequently absorbing all of the good and bad information. However, readers were able to filter the information more effectively while watching television. Solomon claims that people who read do not feel alone because they see a book as a friend, while people who do not read and spend their days with electronics devices tend to feel depressed. Reading is a mentally active experience and helps us learn. It can also help us stay guarded from future mental illnesses like Alzheimer’s. If we are not active and do not exercise our minds, we have a higher chance of developing Alzheimers. The Nazis feared the power of reading many forms of literature, taking measures to burn books because the material within was viewed as being subversive, or representative of ideologies in opposition to Nazism. Today, reading allows Americans to be...
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...Additional Mental Health ISOLATION The use of messaging and social media messages have become a common occurrence in today’s society. Interaction on a human level has become less frequent in a person’s day-to-day living arrangements. Because of social media websites, interaction with others has become effortless, and people have isolated themselves behind online identities. Direct communication has been eliminated and much of society has been reduced to using abbreviations that express their emotions. Examples of important aspects of communication that are falling by the wayside today include: Basic verbal communication Tone of voice Facial expression Body language Social media is removing these very human qualities of communication by eliminating the need to get out and socialize with others in person. Sleep Disturbances Evidence also suggests that social media overuse can contribute to sleep disturbances. Studies of Chinese and American children, published in the "Journal of Sleep" and the "Journal of the American Academy of Pediatrics," found that computer use among adolescents was associated with later bed times, later waking times, less restful sleep and an overall decrease in sleep. The use of computers before bedtime has also raised concerns among sleep experts, including Phyllis Zee, a neuroscience professor at Northwestern University, that the light from screens is affecting circadian rhythms and possibly...
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...Train and educate Lewis recommends assessing nurses’ computer skills and bringing their competencies, such as keyboard skills, up to standard before starting them on job-required electronic devices. Once nurses feel comfortable with a computer, she said, it is easier to introduce new technology. Children’s Healthcare conducted scenario-based training, leading nurses through the workflow of how they would document an assessment or administer a medication. Banner Gateway Medical Center in Gilbert, Ariz., moved into a new, all-electronic facility a couple of years ago. Nurses trained on the software. Then leadership took about 20 percent of the nurses to the new hospital and let them practice on the new system during mock drills. Some local Boy Scouts played the roles of patients to create a more realistic simulation. “It allowed them to get comfortable with the electronic tool, and it helped us identify any issues we had to fix before we opened,” said Sheri Dahlstrom, RN, MSN, chief nursing officer at Banner Gateway. Employ super users Banner Gateway trained super users who did not have a patient load during and for about two weeks after the “go live” to help nurses navigate the system. Children’s Healthcare of Atlanta also prepared nurse super users. They attended additional educational sessions, listened to their peers’ questions and were ready to assist fellow nurses when the system went live. The super users wore special T-shirts, which helped identify...
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...Technology has without any doubt revolutionized in breath-taking paces virtually every aspect of life. However, there is a continued demand for innovation, to achieve greater efficiency spearheaded by the engineering industry. In my opinion no occupation offers as much as Engineering in any area of human development including ICT. The challenge of studying advanced mathematics and designing complex electrical and electronic components with myriad ways of application coupled with the logical and intellectual intangibles derivable over the course of my proposed study excites me I had the opportunity to shadow the head mechanic at Colliers Honda dealership during my ... and I was amazed at how much their work was entwined in electronics. Electronic systems were used to instantly diagnose faults within cars that could otherwise take hours. The hybrid cars particularly attracted my interest and I was enthused by how the introduction of an electric motor improved the performance of a car and simultaneously made it more environmentally friendly. Alhough I have flairs for Literature and Philosophy, Mathematics and the Sciences have always been my forte over my school career I have been received 2 silver awards for the UKMT mathematics challenge. I assumed the role of a mentor at my College helping AS maths students with difficulties encountered within their course. The course of studying A-Level Mathematics and Physics allowed me to amass valuable skills of critical thinking and problem...
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