...Aiming to grasp the concept of air mobility as a component of warfare, The United States Army created the 11th Air Assault Division (Test) at Fort Benning, Georgia in February 1963. The objective was to bring Infantry into battle as fast as possible using helicopters. In June 1964, Lieutenant Colonel Harold G. Moore, Jr., took command of one battalion of the 11th Air Assault Division, he trained them for over a year and by July 1965 the Pentagon gave the order to rename the 11th Air Assault Division as the1st Cavalry Division (Airmobile), including Lieutenant Colonel Moore´s 1st Battalion and its sister 2nd Battalion, which were deployed to Vietnam in July 28th 1965 according to the President´s order. This book relates the story of these two Battalions and their respective battles at Landing Zones X-Ray and Albany in the Ia Drang Valley. In just four days, more than two hundred Americans and thousands of North Vietnamese died in combat. The memories of those who fought and died in the Ia Drang Valley are brought to life throughout “We Were Soldiers Once ... and Young”. Both authors, Joseph L. "Joe" Galloway and Lieutenant General (Retired) Harold G. "Hal" Moore, are distinguished in their respective fields. Joe Galloway was a war correspondent for United Press International (UPI) from 1965 to 1966. He was attached to the 1st Battalion, 7th Cavalry and was present at Landing Zone X-Ray. He spent three additional tours in Vietnam and fifteen years overseas as a writer for UPI. Hal...
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...Also a notable entry in this essay is that during the early 1950's the 187th was part of Operation Swarmer which was the largest peacetime Airborne maneuver in history. This peacetime wouldn't last long though. With a growing crisis in the Korean Peninsula, the 187th Airborne Infantry Regiment was being thrown back into the mix as an airborne regimental combat...
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...the key elements of the framework that the Bank uses to implement its monetary policy. It also includes a table that lists the key features of the framework and how they function in the LVTS environment and a glossary of terms with respect to the Bank of Canada’s monetary policy operations. Policy overview The Bank of Canada establishes a target for the overnight interest rate within an operating band in order to influence other short-term interest rates and the exchange rate (Thiessen 1995). The ability to influence other short-term rates partly reflects the fact that inventories of money market securities are generally financed with overnight funds. However, other factors, including changing market expectations and exchange rate developments, also affect how other interest rates, including those with relatively short terms to maturity, respond to changes in the target rate. Changes in the Bank of Canada’s target for the overnight interest rate are the first stage in the transmission mechanism through which the monetary policy actions taken by the Bank affect total spending in the economy and, ultimately, inflation. In addition, the Bank could change its target rate to help stabilize financial markets in certain circumstances. Key features of the operating framework: The target for the overnight rate, the operating band, and...
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...Acting as banker to the central government * Operating monetary policy * Its general duties include: * Regulating credit and currency * Controlling and protecting the external value of the national monetary unit * Mitigating by its influence, fluctuations in the general level of production; * Promoting the economic welfare of Canada * The major functions of the Bank are * Acting for the government in the issuance of bank notes; * Acting as the government’s chief fiscal agent and financial advisor. As a fiscal agent, the Bank advises the government on financial matters; administers the deposit and fund accounts; manages international currency reserves and operates for the government in foreign exchange markets; acts as a depository for gold; and acts as the governments debt manager in issuing new debt securities and paying interest on them and retiring them * Conducting monetary policy, which is the banks most important function * Bank rate is the rate at which the bank of Canada is willing to lend short term funds to the chartered banks, in its role as lender of last resort. * The bank rate has been set equal to the ceiling of its target range for overnight money rates since 1996. *...
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...Scenario 1 In 150 to 200 words, explain your reasoning for the way you are planning on using Reserve Requirements. Be sure to address the following: 1. How Reserve Requirements affect the economy 2. How your action will affect economic growth 3. Why it is important to increase economic growth 4. Your rationale for the use of Reserve Requirements At the end of the game, you will be provided with this information to give to your instructor. Answer: The reserve requirements that affect the economy are the lower the amount that the reserve charges bank will in return lower rates and allow banks to be able to lend easier to a person or persons. By allowing credit to be obtained easier, it will allow the economy to slowly increase and come out of the recession. It is important to increase economic growth, because the economy cannot survive in a recession or an area that is in a direct standstill. I believe that the lowering the reserve requirements is the best option, because it allows the economy to start to turn around and come out of the recession. An economy that has come to a standstill or a recession will have to have an economic change or the economy will not be able to come out of the recession and thrive to its fullest potential. Scenario 2 In 150 to 200 words, explain your reasoning for the way you are planning on using the Discount Rate. Be sure to address the following: 1. How the Discount Rate can affect the economy 2. How your action will...
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...Journal of Financial Economics 64 (2002) 243–284 Liquidity risk and specialness$ Andrea Buraschia,*, Davide Meninia,b a London Business School, Institute of Finance, Sussex Place, Regents Park, London NW1 4SA, UK b Morgan Stanley, UK Received 11 July 2000; received in revised form 4 April 2001 Abstract Repo contracts, the most important form of collateralized lending, are widely used by financial institutions and hedge funds to create short-selling positions and manage their leverage profile. Moreover, they have become the primary tool of money management and monetary control of several central banks, including the Bundesbank and the newly born European Central Bank. This paper is an empirical study of this market. More specifically, we study the extent to which the current term structure of long term ‘‘special’’ repo spreads discount the future collateral value (specialness) of Treasuries. We ask whether repo spreads embed a liquidity risk premium and whether such a risk premium is time-varying. We quantify the size of the average liquidity risk premium and we provide empirical evidence of the extent of its time-variation. r 2002 Elsevier Science B.V. All rights reserved. JEL classification: G12; G13; G14; C22; C31; E43 Keywords: Liquidity risk; Treasury bonds; Repo contracts; Special repo rate; Expectation hypothesis; Treasury auctions The authors want to thank Federico Bandi, Ravi Bansal, Jacob Boudoukh, Mark Britten-Jones, Ian Cooper, Francesco Corielli, Mark Fisher...
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...The New Central Bank Act (RA 7653) CHAPTER V FUNCTIONS AS BANKER AND FINANCIAL ADVISOR OF THE GOVERNMENT ARTICLE II - THE MARKETING AND STABILIZATION OF SECURITIES FOR THE ACCOUNT OF THE GOVERNMENT A. THE ISSUE AND PLACING OF GOVERNMENT SECURITIES SECTION 117. Issue of Government Obligations. — The issue of securities representing obligations of the Government, its political subdivisions or instrumentalities, may be made through the Bangko Sentral, which may act as agent of, and for the account of, the Government or its respective subdivisions or instrumentality, as the case may be: Provided, however, That the Bangko Sentral shall not guarantee the placement of said securities, and shall not subscribe to their issue except to replace its maturing holdings of securities with the same type as the maturing securities. 117.1 Legislative History This is taken from Section 122 of Republic Act No. 265, with modification. Under RA No. 265, the issue of government securities by the Central Bank as fiscal agent of the Government was mandatory. In contrast, the use of the word “may” in Republic Act No, 7653 shows the intent to make the issue of such securities merely permissive and non-exclusive to the Bangko Sentral. ARTICLE II – REPUBLIC ACT NO. 265 CENTRAL BANK ACT OF 1948 Section 122. Issue of Government obligations. – The issue of securities representing obligations of the Government, its political subdivisions or instrumentalities, shall be made through the Central Bank...
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...th e paper observes the following 2 : • A temporary exogenous rise in the CBK’s REPO rate tends to be followed by a decline in prices and appreciation in th e nominal exchange rate, with effects culminating 9–12 months after the incipient shock. The im pact on output appears to be sluggish and small; and • Variations in the short-term interest rate account for ar ound one-third of the fluctuations in prices and half of the fluc tuations in the nominal exchange rate, while accounting for around 10 percen t of the output variation. The empirical findings suggest a weak transmis sion mechanism from monetary policy stance to real variables, likely refl ecting a slew of structural prob lems in the financial market, including inadequate financial infrastructure and weak lega l framework. On the other hand, there appears to be a strong li nk between monetary policy and nominal variables. A plausible transmission mechanism is as follows: a rise in interest rates associated with a tight monetary stance makes domestic assets more profitable vis-à-vis foreign assets, resulting in capital inflows, thereby exerting appreciating pressure on the exchange rate. Strengthening domestic currency in turn makes imports ch eaper, thereby easing inflation. This paper is organized as follows: Section II briefly describes th e institutional background and summarizes stylized facts about the Kenya n monetary economy; Sect ion III presents...
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...Transformations to Open Market Operations Doing business internationally is not the same as doing business at home. There are new skills to learn and new knowledge to acquire about the country that the company will be going into. The company will need to learn about the different laws and regulations, the different customer buying habits, and change the marketing strategies and materials to appeal to the new country the company is entering. It is important to remember that the way the company operate its business will be determined by culture of the market it’s entering, not ours. Understanding both the social and business culture in another country is the first key to success. Our world is becoming increasingly connected and global and the role of international business is increasing. Each country has its own set of unique customs and traditions. Each citizen’s beliefs define the cultures by which each citizen abides by in normal everyday life, serving as the very foundation of the country. For example, in Saudi Arabia a citizen convicted of stealing will have his had cut off. In the United States, a citizen convicted of stealing would possibly recieve only short term probation. The American Heritage Dictionary defines culture as, “The totality of socially transmitted behavior patterns, arts, beliefs, institutions, and all other products of human work and thought characteristic of a community of population.” Seemingly minuet gestures or situations which carry different...
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...A Strategic Analysis TABLE OF CONTENTS INTRODUCTION 1 WORLD MARKET 1 CORPORATE HISTORY 1 GROWTH STRATEGY 2 SPECTRUM AND UNITED INDUSTRIES 2 GROWTH STRATEGY 2 SPECTRUM BRANDS 3 MANAGEMENT 3 STRATEGY 3 RELATED DIVERSIFICATION 3 UNRELATED DIVERSIFICATION 4 MARKETING 5 MANUFACTURING, RAW MATERIALS, DISTRIBUTION, AND SUPPLIERS 10 CONSOLIDATION EFFORTS 10 RAW MATERIALS 11 DISTRIBUTION AND SUPPLIERS 12 SPECTRUM BRANDS FINANCES 12 SALES 12 INCOME 13 PROFITABILITY RATIOS 13 LIQUIDITY RATIOS 14 LEVERAGE RATIOS 15 ACTIVITY RATIO 16 SHARE PRICE 17 RECOMMENDATIONS 18 REFERENCES 19 INTRODUCTION Spectrum Brands (SPC) is a global branded consumer products company with seven major product lines including Rayovac consumer batteries, Tetra pet supplies, Remington electric shaving, grooming and personal care products, VARTA portable lighting, Vigoro lawn care, Sta-Green lawn and garden, Repel, Hot Shot, and Spectracide household insect control. After acquiring United Industries from Thomas H. Lee (THL) the Boston based private equity firm in 2005, Rayovac (ROV) changed its name to Spectrum Brands and started trading on the New York Stock Exchange (NYSE) as “SPC”. World Market The worldwide market sector in which Spectrum competes is estimated to be US$300 billion1. The worldwide market for batteries alone is estimated at US$50 Billion2. Worldwide dog and cat food sales stood at...
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...Marketing Plan Prepared By: Table of Contents 1. Business Overview 1 2. Market Overview 1 2.1. Customer Information 2 2.2. Market Information 3 2.3. Industry Information 3 2.4. Product/Service Information 4 3. Objectives 4 4. Strategy 5 4.1. Product 5 4.2. Pricing 6 4.3. Distribution 7 4.4. Promotion 7 4.5. Operational Plan 9 4.6. Sales promotion 10 4.7. Advertising 10 4.8. Public relations 10 4.9. Direct Marketing 11 4.10. Online Marketing 11 5. Budgets 11 6. Action Plan 12 7. Supporting Documentation 13 1. Business Overview | | |What does your business do and how long has it been operating? What industry is it in? What sets your business above your | |competitors e.g. different location, cheaper price, better service? Give an outline of the products or services, who will buy | |them, where you feel the business will be in two to five years and how this will be achieved? | Judy and John Abbe have made the move from the city to the country and at age fifty have purchased in the small but picturesque seaside resort of Point Vale. Judy is an excellent gardener and the rose garden at the property will provide her many hours of enjoyment. John loves the outdoor life and is a great bush walker...
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...Gaining a Competitive Advantage through Agile Service Management and Operations Changing Business Models The Communication Service Provider (CSP) market is characterized by vertically integrated players with end-to-end ownership of network, operations and consumer businesses. In the near future, the communications industry landscape is expected to change and become a mosaic of specialized service providers pursing varying business models. This is the result of stagnating voice/data revenues, explosive growth in consumer content, rising demand for XaaS (Anything as a Service) among Small and Medium Businesses, and the emergence of new OTT (over the top) players. CSPs have been weighing changes in their business models for the past decade, and have been evaluating options for expanding their reach up the value chain by providing select content services (walled garden model), leveraging their network and data centers to deliver a user experience superior to content service providers (open garden model), or remain focused on being a bandwidth and capacity provider (utility model). While Tier 1 CSPs such as AT&T and Verizon will likely end up experimenting with all of these business models (depending on their lines of services), the tier 2 and tier 3 CSPs will likely have to make choices between the open garden and the utility model, and implement their strategies to remain competitive. A recent survey conducted by the TM forum in May 2011 indicates that 52% of CSPs would consider...
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...Marketing Plan Prepared By: Table of Contents 1. Business Overview 1 2. Market Overview 1 2.1. Customer Information 2 2.2. Market Information 3 2.3. Industry Information 3 2.4. Product/Service Information 4 3. Objectives 4 4. Strategy 5 4.1. Product 5 4.2. Pricing 6 4.3. Distribution 7 4.4. Promotion 7 4.5. Operational Plan 9 4.6. Sales promotion 10 4.7. Advertising 10 4.8. Public relations 10 4.9. Direct Marketing 11 4.10. Online Marketing 11 5. Budgets 11 6. Action Plan 12 7. Supporting Documentation 13 1. Business Overview | | |What does your business do and how long has it been operating? What industry is it in? What sets your business above your | |competitors e.g. different location, cheaper price, better service? Give an outline of the products or services, who will buy | |them, where you feel the business will be in two to five years and how this will be achieved? | Judy and John Abbe have made the move from the city to the country and at age fifty have purchased in the small but picturesque seaside resort of Point Vale. Judy is an excellent gardener and the rose garden at the property will provide her many hours of enjoyment. John loves the outdoor life and is a great bush walker...
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...1. Which legal form will you use for your business? Provide specific support for this decision. Organic Garden will be founded as for profit organization and will be a partnership of two or more people. The partnership form of ownership will be limited liability partnership to provide flexibility for the partners and limit the liability to the partners. Section 306(c) of the Revised Uniform Partnership Act (1997)(RUPA) (a standard statute adopted by a majority of the states) grants LLPs a form of limited liability similar to that of a corporation: An obligation of a partnership incurred while the partnership is a limited liability partnership, whether arising in contract, tort, or otherwise, is solely the obligation of the partnership. A partner is not personally liable, directly or indirectly, by way of contribution or otherwise, for such an obligation solely by reason of being or so acting as a partner. This form of business allows the partners to have flexibility in the affairs of the firm and the corporate structure allows the firm to be flexible in the affairs of the firm. Also the company structure allows the firm to hire and attract competent professional for the company. The partners will also be acting as the controlling members of the company and will provide flexibility to any partner to exit or join the business without affecting the functionality of the company. 2. What are the costs involved? Advantages? Disadvantages? Advantages: The main advantage to...
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...Plan Market Research Assessment no 1 Introduction: David and his wife has their own four business .Firstly they started D.A garden supplies business on main road opposite to a small suburban shopping centre .In garden and nursery business David supervise the nursery and Alison does the bookkeeping and oversees the landscaping projects. They also employed two full time employees and a part time landscaping consultant and two part time cashiers for garden supplies business .Furthermore after passing 8 years of their nursery and garden business they started one more business of café inside the nursery .For this new business they has appointed an additional part time staff member who works over lunch time and weekends. Moreover on...
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