...the job of raising and investing capital is always hard. It will take new approaches to get the working capital. Companies may have to build new banking relationships and strengthen existing relationships. Private equity funds will play a larger role as well. That’s because many investment banks have simply disappeared, and the ones that remain are more tightly regulated. Money market funds have changed, too. The entire landscape of institutions and markets responsible for providing capital has changed. These are the things that need to be done in order to conserve the capital it has and to obtain more: 1)shed underperformers: it’s important to have a strategy for identifying and retaining the best talent during the downturn. Otherwise many of the companys top talents will be heading out and picked up by the competitors who will be consolidating, so that they can come out fighting when the economy starts to sore again. 2)Communicating clearly and constantly: it’s important to stay in constant communication with your most important stakeholders, with a strong focus on those closely involved with finance. let them know how things are going. If they hear nothing, they will assume the worst.It is the best time to maintain absolute transparency. 3)Seeking out strategic assets There will be many opportunities to pick up assets. But only companies with strong balance sheets will be able to take advantage of this environment. There are recent examples of companies making...
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...MSc in Shipping Trade & Finance 2011/2012 Alternative Sources of raising capital in shipping corporations: Bridging the Funding Gap By Linos Alexandros Kogevinas 100021584 Supervisor: Dr. Giovanni Cespa Acknowledgments Having completed a rather long, but enjoyable year at Cass Business School , I feel obligated to thank a few people who helped me along the way. Firstly, I’d like to offer my most sincere thanks to my supervisor, Dr. Giovanni Cespa for accepting to supervise me and putting me on the right track with this dissertation. Following, I’d like to thank my family for their moral support throughout the year. Last but not least I’d like to thank the entirety of the staff at Cass who helped further my education throughout the year. To all of you, Thank you Abstract The goal of this thesis is to evaluate and present the main alternative sources of finance for shipping corporations in the scope of the post-2008 market downturn. By “alternative” the author refers to any source finance that is not vanilla financing i.e. bank debt. Lists of benefits and drawbacks for each alternative source will be presented for all parties of the transaction in question. This is done in order to present an evaluation that will facilitate the reader in understanding the value of each source as well as potential costs and risks. While there are numerous alternative sources that could be covered, the emphasis has fallen only on those that carry at least a...
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.........................5 Equity Markets ...................................................................................................................6 THE GFC AND EQUITY CAPITAL RAISING..................................................6 THE NATURE OF THE AUSTRALIAN EQUITY MARKET...........................10 THE STRUCTURE OF CAPITAL RAISING IN AUSTRALIA ........................12 Initial Equity Capital Raising...........................................................................................12 Secondary Equity Capital Raising..................................................................................15 Placements ................................................................................................................................. 21 Rights Issues .............................................................................................................................. 24 Share Purchase Plans ................................................................................................................ 29 Dividend Reinvestment Plans ..................................................................................................... 32 Comparing the Australian, UK and US Secondary Equity Capital Raising Systems .................. 33 Debt Capital Raising...
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...market for foreign exchange, the euro currency and related money markets, the euro bond and global equity markets, the commodity markets and the markets for forward contracts, options, swaps and other derivatives. In recent years profound changes have swept the markets and institutions of finance. In key ways the institutions that in car lies decades dominated global finance commercial banks and supranational organization like the IMF have been displayed by direct private finance. The IMF originally designed to resurrects the worlds monetary system following the chaos of the World War II has become a leader to less developed countries in financial distress. It is no longer a player in the main arena of international finance. National capital markets have gain importance to some extend at the expense of external markets like Eurobond market, as barriers erode and domestic institutions face harsh wins of international competition. ABBREVIATIONS AND ACRONYMS IMF: International Monitory Fund LIBOR: London...
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...Case Study: Raising Capital in Switzerland Angel PinaHardin ACCU 615 July 10, 2013 Brandman University Case Study: Raising Capital in Switzerland E-Centives Inc. is a company based in Bethesda, Maryland with offices in Redwood City, New York and Los Angeles. The company is a leading on-line direct marketing company 4.4--million account members (Choi & Meek, 2011). The organization wants to expand into foreign markets and considers the Swiss Exchange to help meet its financial needs. Introduction This paper will discuss the case study of organization e-Centives Inc. In particular, it will discuss the factors that are relevant to e-Centives Inc.’s decision to raise capital and list on the Swiss Exchange’s New Market. It will also discuss why e-Centives chose not to raise public equity in the United States and their decision not to raise capital on the U. S. Stock exchange as well as the advantages and disadvantages of using the U. S Generally Accepted Accounting Principles (GAAP). Also discussed will be the requirement for e-Centives Inc. to prepare its financial statements using Swiss accounting standards as well as the reporting requirements and whether or not e-Centives met those requirements. Factors to the Swiss Exchange Many factors contributed to e-Centives Inc.’s decision to enter the Swiss Exchange instead of the U. S Stock Exchange. These factors include ease and availability of capital and investors, reputation of the exchange, and corporate profile...
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...$75m, or $6.3m for $90m. Spending the extra $1m in fees now to raise $90m, will save approximately $2.5M of administration fees of secondary offering. Investor opinion The decision to raise $90m may have a favorable effect on the IPO price, as it may indicate to investors that there is vision and plans for significant future growth. If raising additional equity a short time after IPO, the investors may feel question the need to raise more capital and may negatively influence the share price. Focus on growth If the IPO of $90m is successful, it will allow the owners to focus on the development and not be concerned by how to raise future funds (Wertz, 2013). Having necessary capital will assist A&A to start on the medium to long term development earlier and accelerate their growth. Timing and market conditions Careful timing of an equity capital raising is essential to ensure high share price. It may be difficult to attract the higher share prices at second offering. Further changes in the market conditions may also lead to additional uncertainty at the time of secondary offering. Optimal size The disadvantage of raising a higher amount is that A&A is selling more of its shares, and the owners are diluting their ownership of the business. This means...
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...Tyler Philip Professor Wisniewski English 101 24 February, 2014 Raising Arizona Having trouble knowing whether or not a scene in a movie takes place in reality or a fictional fantasy world can be the difference in making a movie funny, “corny” or even just flat out bad. One moment the scene seems as if the movie is taking place in our world and next something terribly random happens, which would never happen in reality and it makes you question yourself what world this is in. Blurring the line between the two makes a movie harder to follow unless it’s consistent so it actually can make sense as long as your watching the movie. The Conan Brothers did an excellent job in doing so in Raising Arizona, the blurred line between reality and fantasy makes the movie more enjoyable. There are some scenes where they are so ridiculous you can’t help but laugh, without the use of this style it could have made the movie more serious and may have not been as comical. The Main character Herbert McDunnough (“Hi”) is played by Nicolas Cage who also narrates the entire film. Herbert is a criminal who sticks up grocery stores, he is married to a policewomen named Edwina McDunnough (“Ed”) played by Holly Hunter. The two quickly fall in love after she was taking mugshots of Herbert, the couple get married after Hi proposes to her after his most recent release from prison, the two move into a arizonan mobile home in the desert. They find out Ed is infertile and because of Hi’s criminal record...
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...7p’s for Amazon Price – Amazon has lowered its prices of items due to more completion with other e-tailers such as eBay. Products – Amazon allows customers to buy products that are cheaper. The customers would place an order and amazon orders it straight from the local warehouse, this then means the delivery speed is quicker and the customer gets the product a lot quicker. This lowers storage cost and allows businesses to provide a larger range of products instead of having a slow delivery speed and a small amount of products stored, this makes them have a large variety of products. Place – Amazon can access the international markets by being on the internet, they can set up multi – language Amazon can access the international markets by being on the internet, they can set up multi – language website to target specific markets, also there isn’t much cost as a store isn’t needed since it is directly from the manufacturers. Promotions – Amazon allows customers their products according to what they want. Also social media has now become more popular that means that this has become a main way of communication so people chose it as a main form of buying things, this promotes the business because it’s quick, easy and simple to use. It’s a lot more cost effective and is a lot effective for people who don’t have enough time to shop. People - For customers, it can save lots of time and this means they can order what they want and chose from a bigger variety of things instead of...
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...thread passes between the two. The tension of the thread is adjusted by a spring and nut which increases or decreases pressure 4. Take up lever: It is a lever fitted to the body of the arm. Its up and down motion feeds the thread to the needle and tightens the loop formed by the shuttle. 5. Needle bar: This is a steel rod to hold the needle at one end with the help of a clamp. Its main function is to give motion to the needle. 6. Bobbin case: This moves into position to catch the top thread and form the stitch as the needle is lowered into the bobbin chamber. 7. Presser foot: It is fixed to the presser bar to hold the cloth firmly in position when lowered. 8. Presser foot lifter: A lever attached to the presser bar for raising and lowering the presser foot. 9. Stitch regulator: This controls the length of the stitch. 10. Bobbin winder: A simple mechanism used for winding thread on the bobbin. 11. Fly Wheel: When this is made to revolve, it works the mechanism of the motion 12. Clutch or Thumb Screw: This is in the center of the fly wheel and it engages and disengages the stitching mechanism. 13. Slide Plate: A rectangular plate, which facilitates the removal of the bobbin case without lifting the machine. 14. Needle Plate or Throat Plate: A semi-circular disc with a hole to allow the needle to pass through it. 15. Feed dog: This consists of a set of teeth fitted below the needle plate. It helps to move the cloth forward while sewing...
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...is called rent. · Labor: In order to produce the things, a human resource must be used. human resources consist of the productive aid of labor made by individuals who work—for instance, miners, artists, and professional baseball players. The contribution of labor to the production process can be amplified. Whenever potential workers obtain schooling and training and whenever actual workers acquire new skills, labor’s contribution to productive output will raise. In other words it is human effort, mental or physical. The reward to labor is label wages. · Capital: When labor is applied to land to grow wheat, for instance, something else is used. Generally it is a plow or a tractor. That is to say, land and labor are shared with manufactured resources in order to produce the things that we need. These manufactured resources are called capital, which consists of machines, buildings, and tools. Additionally, capital consists of enhancement to natural resources, such as...
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...Define and Describe the Four Factors Of Production In every society there are so called 'factors of production,' that are used to manufacture goods and services. These are often referred to as limited resources: The first factor of production is land. This refers not just to land itself but to all natural resources - the surface of the earth, forests, mineral deposits etc... These resources can be split into two different types: non-renewable and renewable. Non-renewable resources are resources such as coal, oil, gold and copper which once used up can never be replaced as their formation took millions of years. Renewable resources include fish stocks, water and wind power and these can be renewed and replaced. However these sources require careful management as misuse can lead to destruction of the source. Some nations are endowed with natural resources and exploit this by specialising in the extraction and production of these resources LAND This category sometimes extends over all natural resources. It is intended to represent the contribution to production of nonhuman resources as found in their original, unimproved form. For the French physiocrats led by Francois Quesnay in the 1750s and 1760s, land was the only factor yielding a reliable gain to its owner. In their view, laborers and artisans were powerless and in excess supply, and hence they earned on average only a subsistence-level income; and in the same way what they produced outside of agriculture fetched enough to...
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...01/28/2011 EH205 Essay 2 When and why did London grow so much faster than other early modern capitals? By examine the key differences among Paris, Madrid, and London, I argue that from1650 to1750, the reason why London boosted in terms of demographic expansion and market integrations is that -- instead of creating market disorder by demanding cheap supply of goods from other places, emphasizing social privileges and over consumptions, London attracted spontaneous business exchange in market among different groups of people. In section I, by doing a brief literature review on E. A. Wrigley, D. R. Ringrose and other important authors, we may have a basic understanding of the demand and supply market mechanism and its relationship with population, internal market and functions of capitals. In section II, we will analyze how the functions of capital, such as exercising political power to satisfy a particular interest, can affect the demand and supply of market and demographic composition. In section III, we study further how the functions of capital such as price determination can change the economic development of the capital itself and its surrounding industrial and agricultural areas. At the end, we should see that London did a better job integrating the urban-rural market during 1650-1750. Literature Review From 1650 to 1750, London grew much faster than other continental capital cities. There is little debate on the time as shown in table 1 and 2 below. Although the figures...
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...S tatement of the Problem How could ServerVault obtain the confidence of investors in order to raise additional capital tosupport its growth and implement its expansion plans? Objectives y T he group aims to understand and present the burn rate or rate of cash consumptionof the Server Vault company. y T he group aims to come up with a 2 ½ year forecast for the firms statement of cashflow prepared on a monthly basis which would determine the timing and amount of funds to be sought in the firms capital-raising program. y T he group aims to present a 30 month financial forecast of Server Vault to be presentedto the private investors in hopes to raise more capital for building new server hostingfaciltities. y D etermine the operating leverage of the company. y A nalyze how variable and fixed costs affect operating leverage. y I dentify the key drivers that could affect the companys operational efficiency and/orfinancial health. A reas of Consideration Financial Forecast y Capital expenditures . Each new facility would cost 5 to 6$ M US and could hold approximately 5,000 servers depending on the size. o B y last quarter of September of 2000 , another facility can be opened in D ulles, Virginia. o Each quarter of 2001 (beginning in...
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...In the city of Luverne, Minnesota laid clusters of wind turbines that popped up through cornfields. Minwind Energy was the company that created these wind developments and invited hundreds of local residents to invest $5,000 a piece, eventually raising $4 million to fund the turbines. In return, the residents became owners of the turbines alongside the farmers that owned the land where the turbines stood on. This was an example of shared ownership. A policy of no ownership exceeding 15% further strengthened that, resulting in equal wealth distribution among the residents. Rather then allowing the generated wealth to flow into major corporations, it remained local by first flowing back into the community through payments to local workers, investors, and suppliers. Shared ownership is especially important in regions like rural areas to prevent exploitation of natural resources and to help keep wealth local. These areas are often rich in natural resources that are vital to our economy. As the economy is rising in demand for sustainable agriculture practices, new opportunities are coming up for urban-rural partnerships. In conclusion, to benefit from all of our resources, we must learn that wealth is beyond just financial capital. The key to creating shared prosperity is by connecting all our resources together. In the long run, shared ownership enhances community...
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...stakeholders. HRD is a combination of organizational endeavors including education, training, development, career planning and development that ensure continual improvement and growth of both the individuals and organizations. The foray of workers entering into public and private sector organizations in Baluchistan from various disciplines has necessitated the need for appraising the Human Resource Development situations in Baluchistan. Therefore this article is an attempt to investigate the human resource situations in the province. Keywords: Human Resource Development, Human Resource Management, Training and Development, Human Resource Capital Introduction Human Resource Development is one of the key functions of an organization. It is the framework for the expansion of human resource talent within the organization. Human capital is an inventory of human ∗ Dr. Jan Mohammed, Assistant Professor, Institute of management sciences, University of Balochistan, Quetta. Email: jan_mohammed61@yahoo.com...
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