...PIRELLI TYRE 2009-2011 MANAGEMENT PLAN Francesco Gori CEO & Managing Director Pirelli Tyre Agenda 2008 Tyre Results Industrial Business Consumer Business 2009-2011 Tyre Targets | 1 In 2008 Pirelli Tyre performance was adversely impacted by unforeseeable market conditions Million €, Percent Key Facts 2008 yoy Q1 Q2 31 Q3 76 Q4 74 ∆ Price/Mix +7.3% Profit & Loss Revenues EBITDA (before restructuring costs) % ∆ Exchange Rate -2.8% FY '07 4,162 549 13.2 358 8.6 358 FY '08 4,100 443 10.8 250 6.1 150 ∆% -1.5 -19.2 ∆ Volume -6.0% Impact of raw materials 14 103 88 41 18 EBIT (before restructuring costs) % EBIT (after restructuring costs) -30.2 EBIT +191 ∆ Commercial ∆ Efficiencies -4 ∆ Unit costs & other -295 A dramatic increase in all input costs (raw materials, energy, etc.) A collapse of the OE market, driving sales down by 10.2% in Q4 (5% organic) The decision to provision in 2008 results restructuring initiatives and costs worth 100 ml € Note: unaudited results, pre-closing | 2 Pirelli Tyre 2008 operating and financial performance Million € Raw materials: Labour / energy / other: (72) -195 -73 EBIT bridge (before restructuring costs) 358 263 (268) (268) (5) (15) (11) 250 EBIT 2008 EBIT 2007 Price & mix Volume Cost of inputs Efficiencies Exchange rate Depreciation / other NFP evolution * of which stock: -212 PBIT:...
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...1. What happened to Pirelli in the recent years? PEST analysis (only Technology and Economic Factor Declining market share Data? Why Pirelli left behind its main competitors? 1. Their main operation: only limited to passenger car, truck, and motor tires (general product), lack of specialized product or we can say that they are underutilized their advanced and innovative technology Main competitors? Michelin they have more diversified market segment: including passenger cars, vans, trucks, farm equipment, earthmovers and handling equipment, bicycles, motorcycles and aircraft. Goodyear Goodyear also applies the same approach with Michelin. Their range of product includes the following product: Automobiles, Trucks, Buses, Aircraft, Motorcycles, Farm Implements, Earthmoving and Mining Equipment, Industrial Equipment, and Various other applications Randy search for fuckin picture like pictures above Bridgestone Bridgestone also has more variety product compared to Pirelli. The production including passenger car, commercial tire, aircraft, offroad tires, motorcycles. Continental Similar to Pirelli in market segment passenger tire, Light truck & SUV, Commercial Tires (Bus & Truck Tires) 3. Economic Slowdown in Emerging Markets which are the main contributors for Pirelli Revenue Economic Volatility (Russia) (4% contribution) Irrespective of the wider politico-economic environment, the Russian tire market is known for being something of a roller-coaster...
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...1. Introduction The business report below presents full information about Pirelli & C. S.p.A(Società per Azioni (Joint Stock Company)). It includes company`s profile, current financial and sustainability performance, business research analysis which is divided into 2 types itself. One of the research provides company`s Strengths, Weaknesses, Opportunities and Threats on the Global Market whereas other research reports about the market analysis within the Pirelli`s home market. The report on company`s current profile includes a reliable information and research analysis that corresponds the data in ‘The 2014 Pirelli Integrated Report (2014 Annual Report)’ which is announced in the company`s official site. 2. General description of the company Internationalism, technology, talent, speed and culture are part of Pirelli's past, present and future. (2014 Annual Report) Company`s history 1872 there was founded the limited partnership company ‘G. B. Pirelli & C.’ in India rubber manufacturing industry by the engineer Giovanni Battista Pirelli(1848-1932) which initially produced rubber textiles, tubes and belts for machinery. Then it expanded its business with producing undersea cables. In 1922 the company was added to the Italian Stock Exchange. The head office is located in Milan, Italy. Company`s profile Pirelli & C. S.p.A specialized in producing Consumer (for cars and motorbikes) and Industrial (for trucks, buses and farming vehicles) tyres. According to the ‘2014...
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...Binder, Gabrielle 2 March 2014 MUSC 1301 Sweeney Todd: Robert E. Lee High School Musical I am not a fan of horror or scary theatrics, so I was a little nervous about going to see Sweeney Todd, even if it was just a high school musical. I was quite impressed overall with the musical. The young actors and actresses did very well performing the story of Sweeney Todd. The story of Sweeney Todd was actually quite interesting. I was shocked that an elderly woman would even think to serve humans in pie form, but I guess she had to do what she felt necessary to keep her business open. The musical was not as scary as I initially thought it would be. The original musical’s music and lyrics were written by Stephen Sondheim. One of the main characters Sweeney Todd was played by Octavio de la Pena. He played his character very well. Throughout the musical Octavio never went out of character and he portrayed the different emotions well. He even used an English accent to go with the setting of the musical. The young man had great diction and his inflection was very natural. He did not sound as though he was acting, but that he was actually feeling each emotion. He also had great diction while singing songs that required him to sing very fast. I was able to understand every word as he sped through lyrics in the songs. I was surprised by one scene when Sweeney Todd actually showed some sort of compassion and allowed an unsuspecting victim to live. Sweeney Todd saw the man’s...
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...”Sorry for Disturbing You” By Richard Knight A A common perception of our society is that friends come and go, but you will always have your family for better or worse. Sadly that does not count for all. In the short story, “Sorry for Disturbing You,” we meet one of those who are not as lucky as some of us are. The short story, “Sorry for Disturbing”, is written by Richard Knight. He is bringing men’s generally incompetence of showing their feelings and how we are handling these people and communication into focus. The composition is mainly chronological. It starts in medias res as Ian reflects over his meeting with Michael Phelps. This is the only place where there is a breach of the chronologically time line. The story spans over a couple of hours, from the moment Ian opens the door to when he returns home to his wife and daughter, Karen and Corinne. It is told by a third person limited narrator as we only get an insight view on Ian thoughts. This means that there is no outer description of Ian, but the reader is able to follow his inner life. It also means that the portrait of Michael is made based upon Ian’s perception of him and how he appears in the dialogue. Michael Phelps, the other narrator, suddenly shows up really drunk and confused at Ian’s doorstep – claiming to know the previous owners of the house, Edie and George Higham. Ian, the other main character of the story, finds this bothersome and wonders why Michael seeks for help when he could...
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...leading the downfall of AIG in 2008. In this paper, I will analyze the cause, the transactions and finally effects of the scandal. The Accounting Scandal The Players The CEO of AIG was Maurice “Hank” Greenberg. Greenberg joined AIG in 1962 and led AIG for thirty eight years until his retirement in March 2005. Greenberg was not only the CEO, but also the chairman of the board of AIG. AIG also have several subsidiaries, which include National Union Fire Insurance Company of Pittsburgh (NUFIC) and Hartford Steam Boiler Inspection (HSB). Their financial information are consolidated in AIG’s financial statements. The scandal also involves another corporation General Re Corporation. General Re is a subsidiary of Berkshire Hathaway, Inc., an investment group run by the billionaire Warren Buffet. General Re also has subsidiaries all over the world and together and it is one of the biggest reinsurance companies in the World. Reinsurance companies are entities that insure the insurance companies. They help insurance companies share risk by selling reinsurance plans that would help pay off a share of a claim from the insurance...
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...Sorry for the Loss “Sorry for the Loss” is a short story, written by English writer Bridget Keehan in 2008. It is written in third person, from the main character’s point of view. The main character is Evie, who works at a prison as a Catholic chaplain. The story starts in media res, with the sentence “Evie has to tell Victor his Nan is dead.” We get no background info about Evie or the prison; we just go straight into the story. As the title indicates, there is a loss in this story. The loss is an inmate’s (named Victor) Nan, who is dead. Victor is a young and good looking boy, and when Evie goes to his cell to tell him about his Nan, she immediately feels sorry for him. Compared to Evie, who is very religious, and likes to say prayers, whenever she has some spear time, Victor isn’t that into religion. Sure, he is a Catholic, but he is also interested in learning about other religions as well. The atmosphere in the prison intimidates Evie, and she doesn’t like to be there because of all the loud noises. She is a bit scared of the inmates, because she doesn’t understand how they can do such a thing, which has led them into prison. She has her religious morals, but they don’t. When Victor gets the news about his Nan’s death, he doesn’t seem to care. Instead he is looking at the pigeons flying around outside his window. They are politely making small talk, until Evie leaves. She doesn’t understand why he didn’t showed any emotions, when she told him about his Nan...
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...LSTD 207 Final Exam Answers Follow Below Link to Download Tutorial https://homeworklance.com/downloads/lstd-207-final-exam-answers/ For More Information Visit Our Website ( https://homeworklance.com/ ) Email us At: Support@homeworklance.com or lancehomework@gmail.com LSTD 207 Final Exam Part 1 of 1 – 100.0 Points Question 1 of 30 2.5 Points A defendant should always raise any objections to personal jurisdiction in the first response to the plaintiff’s complaint or the issue is waived and may not be reconsidered. True False Feedback: See pages 118, 120-121. A defendant must raise objections to venue, personal jurisdiction, and form and method of service of process in their first response to the complaint (pre-answer or answer) or the issue is waived and may not be reconsidered at a later time. Question 2 of 30 2.5 Points A defendant can remove a case from state court to federal court even if the federal court could not have heard the case initially. True False Feedback: See page 27- “FAQ”. Removal jurisdiction is available to defendants only in cases that the plaintiff could have commenced in federal court. Question 3 of 30 2.5 Points Is it possible for a defendant to file a motion to dismiss for personal jurisdiction and a motion for summary judgment simultaneously? A.Yes B.No Feedback: A motion to dismiss is asserted prior to the answer (as an alternative to an answer) or in...
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...Case Question 1 In his 2002 letter to shareholders, Warren Buffett referred to financial derivatives as the "financial weapons of mass destruction" and a ticking "time bomb" waiting to explode. His perspective may well be derived from his own experience with some derivative positions his company, Berkshire Hathaway Inc, inherited from the $22 billion purchase of General Reinsurance Corporation in 1998 (Berkshire Hathaway Inc, 2002). Unable to find an agreeable counterparty to buy the General Reinsurance Securities, a subsidiary of General Reinsurance Corporation that deals with derivatives, Buffett decided to close it which required him to unwind the subsidiary's derivative positions. The complexity of the derivatives positions took him years to complete the unwinding and at a pretax loss of $173 million for General Reinsurance Corp in 2002 (Berkshire Hathaway Inc, 2002) and $409 million in cumulative pretax loss as of 2008 (Berkshire Hathaway Inc, 2009). He likens the unwinding process to entering hell, stating that derivatives positions were "easy to enter and almost impossible to get exit" (Berkshire Hathaway Inc, 2004). In 2002, trades in derivatives were growing rapidly in recent years and they pose a "mega-catastrophic risk" that could harm not only their sellers and buyers, but the whole economic system for the following reasons: 1. Mark-to-market accounting (Investopedia 2011) is a legal form of accounting for a venture involved in buying and selling securities...
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...As stated, Hemingway illustrates a man, the Doctor’s, role in a family thus giving a portrait of and an insecure man, neither masculine nor able to stand up for himself and be comfortable in his own skin. The story is chronological and starts in medias res: “Dick Boulton came from the Indian camp to cut up logs for Nick’s father” (p. 11, l. 1-2). It can be divided into three different sections: the doctor´s argument with the Indians, the experience with his wife and in the end the experience with Nick. Firstly, we are introduced to Dick Boulton, his son Eddy, and Billy Tabeshaw who arrive on Nick's father's property to cut up logs for him. This section’s primary focus is on the parallels between the whites and the Indians. The logs Nick’s father wants to use were lost on the way to a mill years ago. The doctor assumes they are no longer needed for the mill, so he seems innocent in hiring Indians to make them into firewood. Dick makes a point about ownership's duration, showing that the wood still has an owner, but the doctor insists that he is not stealing. The Indian shows the doctor a White and McNally brand on the logs. Dick's accusation that he is stealing makes the doctor angry, because to him the logs should count as abandoned. His anger is clearly portrayed in his physically appearance and he also threatens Dick when he says: “if you call me Doc once again, I’ll knock your eye teeth down your throat” (p. 13, l. 8-9). Dick is a big man, and “he liked to get into fights”...
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...Delprøve 2 opgave B – How Lucky You Are The main theme I think that there is more than one theme in the story. There is the meeting with new cultures. Young people in the west have a lot more freedom than many others opportunities in other countries. They have the opportunity to get a education. They can literally do with their life, what they want. Another theme could be the teenage life. Max’ youth rebellion with the school and her mother, is typical for a life as a teenager. Max smokes, he truants from school, and he does not listen to his mom. The last theme in the story is young love. We see Max and Ishraqi fall in love. Although that we see some different themes in the story, I think the main theme is that we should appreciate the things we have. That is the change the main character Max discovers. In the beginning of the story, Max argues with his mother. ‘’Just that morning he’d a huge row with his mum. She drove him crazy (..)’’. (Linie 128, page 11). After Max meeting with Ishraqi, Max view changes. He realizes how lucky he is to even have his mother. ‘’He thought about Ishraqi not knowing if her parents were alive or dead and resolved not to argue with his mum for once [...]” (Linie 71, page 12). Max is a 16 year old, teenage boy. He is a typical teenager, tired of school, smoke cigarettes, has negative approach to school, wear tight jeans and a hoodie. He is studying on a special school, for creative kids. Max truants from...
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...March 2015 March 2015 How Lucky You Are When you live in a country, as privileged as either England or Denmark, it is easy to get caught up in the insignificant details of your everyday life. Being forced to get out of bed at 7AM every morning can feel like the purest form of torture. And losing your mobile phone, at a party last Friday, is certainly a close equivalent to the end of the world. It is very easy to forget how grateful we truly should be, just to have a place to call our home and this is exactly what Debi Alper illustrates in her short story “How Lucky You Are” from 2010. In the story we meet the rebellious 16-year-old by the name of Max, who is tired of being told what to do. Instead he spends his days ditching school to smoke cigarettes outside the UK Borders Agency Building, where he one day accidently bumps into the Iranian girl called Ishraqi. They end up spending an eye-opening day together, where they quickly grow quite fond of each other. Ishraqi is however ripped out of Max’s life, as quickly as she originally entered it, when she is deported from England leaving Max behind with nothing but a photo to remember her by. The end is the beginning of this particular short story, as its outcome is revealed to the reader in a reverse chronological order. Max is sitting in his bedroom looking at the photo of him and Ishraqi, unsure of whether she is just another “figment of his twisted imagination”. There is no way of knowing what events have transpired...
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...A ”Elephant” is a short story written by Polly Clark. The theme in the text is the desire to fulfill your dreams. However it’s not always as easy to succeed in the things you want the most. “Elephant” opens in medias res, as we’re being thrown into a world where William is sitting by his desk, surrounded by a pile of notes and facts. Already in the beginning of the text we’re able to see that William encounters problems with his writing. He states that the skill to being a good writer is commitment, and not inspiration. “This inability to write a word had gone on for weeks. His own adage that writing was 99 percent about commitment not inspiration had not helped him shift a single page in all that time” this also indicates that he may have lost the motivation to write. The reader also becomes more aware of the kind of depressing feeling in the house. “The house was quiet. It was early afternoon, drawing towards a shining evening. The closed curtains of his study glowed with brilliant sunshine. Writing was impossible for William if there was a view onto the garden…” . The short story is told by a third person narrator, but we also hear about William’s thoughts and therefor we relate to him. Whilst reading the story we feel sorry for him. William is not happy with what he writes a about. He writes biographies of pop singers, when all he really wants is writing about movie stars, but someone where quicker to get the job. “William wrote biographies of pop singers. Female,...
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...Res Judicata RES JUDICATA- the Latin term for "a matter [already] judged", and may refer to two things: in both civil law and common law legal systems, a case in which there has been a final judgment and is no longer subject to appeal.[1]; and the term is also used to refer to the legal doctrine meant to bar (or preclude) continued litigation of such cases between the same parties, which is different between the two legal systems. In this latter usage, the term is synonymous with"preclusion". Elements of Res Judicata 1. The former judgment must be final 2. Judgment must be on the merits of the case 3. The former decision is rendered by the court having jurisdiction over the subject. 4. There is similar identity of parties, subject matter and cause of action for both cases. Cause of action - defined as "an act or omission of second party in violation of the legal right or rights of the other, and its essential elements are legal right of the plaintiff, correlative obligation of the defendant, and act or omission of the defendant in violation of said legal right." TEST FOR APPLICATION OF RES JUDICATA In the application of the doctrine of res judicata, if it is doubtful whether a second action is for the same cause of action as the first, the test generally applied is to consider the Identity of facts essential to their maintenance, or whether the same evidence would sustain both. If the same facts or evidence would sustain both, the two actions...
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...Essay:”Low Visibility” The short story ”Low Visibility” involves Laura and her husband John. Laura is John submissive, and she has nothing to say at home. Before she met John, she was the kind of person who could make a room laugh; she had a good humor, lots of energy and a good spirit. But John changed her; from being full of life, he made her into a person who barely speaks at home out of fear. In the text it says “She wishes she could protest, but has forgotten how.” This clearly explains how submissive she has become, when she cannot stand up for herself anymore. When they watch television, one of his hands is on her lap, holding it tight - so hard that her thigh bruises. John is a very violent person, and at a time he moves his hand higher up her thigh and presses, this is his foreplay because he does not know romance. When the riots enter the apartment below theirs, John gets pissed and flings the door open, ready to fight. As he flings the door open, Laura says “Don’t” and she is surprised over her own act, because she has not spoken a word of command for four years. This shows that maybe she is beginning to find herself again – starting to be independent of John. In the end when John lies on the ground and “ask” for a hand, she turns around and walks away, meanwhile a window explodes behind her, she is not harmed though. Another proof of the fact that she has found out that she does not need John in her life. The riots in the street are very violent. The rebels throw...
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