...Rocky Mountain Advanced Genome – Case Study Background:Rocky Mountain Advanced Genome (RMAG) is headquartered in Colorado Springs, Colorado and has recently been founded by seven research scientists who have taken a leave of absence from major universities and pharmaceutical companies to establish this firm. This company uses gene-sequencing techniques with a computer-driven search algorithm to identify genes in human DNA. In January 1996, negotiations were coming to the end for a private equity investment by Big Sur Capital Management to buy a 90 percent equity interest for $46 million in RMAG. The proceeds of the sale would be used to finance the growth of RMAG. Big Sur's saw a highly promising, but a highly risky investment opportunity. Kim McGraw, a managing director with Big Sur was put in the position to negotiate a price and terms of the investment. She based her negotiations on the assessment of RAMG's economic value. Big Sur Capital Management is located in San Francisco, California and has been organized as a hedge fund since 1968. Over the years it proved more successful in variety of "private equity" investments and had gradually shifted its activities to this area. The firm has $2 billion under management with 64 investments evenly split between venture capital investments and participations in leveraged buyouts. Importance of Terminal Value:Terminal value is the lump-sum of cash flows at the end of a stream of cash flows. It is important when trying to...
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...Rocky Mountain Advanced Genome Case Study 2: Rocky Mountain Advanced Genome This paper provides an objective valuation of Rocky Mountain Advanced Genome (RMAG) to be adopted by Big Sur regarding the purchase of a 90% equity stake for $46 million. Forecast Horizon: The forecast horizon was lengthened to 15 years, as RMAG is a young, “highly promising, high risk” firm, only established 15 months prior, it should reach maturity in 2010 as sales, expenses and free cash flows stabilise (Fig.1). RMAG exhibits characteristics of a high growth firm with no dividends, high risk, high CAPEX expenditures and no leverage. Furthermore, it would be inadequate to adopt the forecast horizon dictated by RMAG and Big Sur of 10 years as cash flows only breakeven in Year 8 (Fig.2). Ohlson & Zhang (1999) affirmed that “Casual observation suggests that the horizon rarely exceeds 15 years” yet a planning period of 15 years is appropriate as RMAG has heavy R&D expenses that generate products with lengthy development stages and greater time until profit realisation. Cash flow forecasts provided by RMAG management and Big Sur analysts for the next ten years were analysed and accounts over the 1995 to 2005 were averaged as, “cash flows can be biased as a result of managers being either too conservative or too optimistic” (Titman et al. 2011). RMAG’s forecast was biased upwards whilst Big Sur’s forecast was relatively conservative. Hence, a hybrid of the two forecasts was adopted to negate bias...
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...Fordham University Graduate School of Business Administration FNGB 7421 Gautam Goswami Take Home Exam: (Due within 2 weeks – first week of July) Answer the following question from Investment Detective Case. Q1. If you have only $8 million for investment (i.e. 4 projects) and your WACC is between 9% and 11%, which projects should you choose and why? You need to justify your answer and show detailed analysis. Your assumptions must be pointed out and should be generally acceptable. (20 points) Answer the following question from Rocky Mountain Advanced Genome case. Q2. Assume that Genome industry will grow at a rate of 4 to 6% in maturity, and discount rate may vary between 18 and 20 %. As a representative of RMAG, What will be your arguments so that Big Sur provides the financing for RMAG? Give at least five reasons in support of your argument. Show all computations in your analysis. (30 points) Answer the following questions from Pressco Inc. case. We worked out a base case of scenario A with no change in tax laws in class. Start with that scenario assumptions as given and answer the following questions. Q3. (Scenario B) What is the net present value of the mechanical drying equipment investment opportunity (as of December 1985) assuming a 12% cost of capital for Paperco and assuming (a) the new tax proposals are enacted, (b) the new drying equipment replaces the old in December 1986, and (c) Paperco signs a binding purchase contract soon enough...
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...Section A: Basic Microbiology 1 SCOPE AND HISTORICAL DEVELOPMENTS IN MICROBIOLOGY “Science contributes to our culture in many ways, as a creative intellectual activity in its own right, as a light which has served to illuminate man’s place in the uni-verse, and as the source of understanding of man’s own nature” —John F. Kennedy (1917–63) The President of America The bacterium Escherichia coli INTRODUCTION AND SCOPE MICROBIOLOGY is a specialized area of biology (Gr. bios-life+ logos-to study) that concerns with the study of microbes ordinarily too small to be seen without magnification. Microorganisms are microscopic (Gr. mikros-small+ scopein-to see) and independently living cells that, like humans, live in communities. Microorganisms include a large and diverse group of microscopic organisms that exist as single cell or cell clusters (e.g., bacteria, archaea, fungi, algae, protozoa and helminths) and the viruses, which are microscopic but not cellular. While bacteria and archaea are classed as prokaryotes (Gr. pro-before+ karyon-nucleus) the fungi, algae, protozoa and helminths are eukaryotes (Gr. eu-true or good+ karyon-nucleus). Microorganisms are present everywhere on earth, which includes humans, animals, plants and other living creatures, soil,water and atmosphere. Microorganisms are relevant to all of our lives in a multitude of ways. Sometimes, the influence of microorganisms on human life is beneficial, whereas at other times, it is detrimental. For example...
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...500 extraordinary islands G R E E N L A N D Beaufort Sea Baffin Bay vi Da i tra sS t a nm De it Stra rk Hudson Bay Gulf of Alaska Vancouver Portland C A N A D A Calgary Winnipeg Newfoundland Quebec Minneapolis UNITED STATES San Francisco Los Angeles San Diego Phoenix Dallas Ottawa Montreal ChicagoDetroitToronto Boston New York OF AMERICA Philadelphia Washington DC St. Louis Atlanta New Orleans Houston Monterrey NORTH AT L A N T I C OCEAN MEXICO Guadalajara Mexico City Gulf of Mexico Miami Havana CUBA GUATEMALA HONDURAS b e a n Sea EL SALVADOR NICARAGUA Managua BAHAMAS DOMINICAN REPUBLIC JAMAICA San Juan HAITI BELIZE C a r PUERTO RICO ib TRINIDAD & Caracas N TOBAGO A COSTA RICA IA M PANAMA VENEZUELA UYANRINA H GU C U G Medellín A PAC I F I C OCEAN Galapagos Islands COLOMBIA ECUADOR Bogotá Cali S FR EN Belém Recife Lima BR A Z I L PERU La Paz Brasélia Salvador Belo Horizonte Rio de Janeiro ~ Sao Paulo BOLIVIA PARAGUAY CHILE Cordoba Santiago Pôrto Alegre URUGUAY Montevideo Buenos Aires ARGENTINA FALKLAND/MALVINAS ISLANDS South Georgia extraordinary islands 1st Edition 500 By Julie Duchaine, Holly Hughes, Alexis Lipsitz Flippin, and Sylvie Murphy Contents Chapter 1 Beachcomber Islands . . . . . . . . . . . . . . . 1 Aquatic Playgrounds 2 Island Hopping the Turks & Caicos: Barefoot Luxury 12 Life’s a Beach 14 Unvarnished & Unspoiled 21 Sailing...
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...Preface A well-developed knowledge of clinical microbiology is critical for the practicing physician in any medical field. Bacteria, viruses, and protozoans have no respect for the distinction between ophthalmology, pediatrics, trauma surgery, or geriatric medicine. As a physician you will be faced daily with the concepts of microbial disease and antimicrobial therapy. Microbiology is one of the few courses where much of the "minutia" is regularly used by the practicing physician. This book attempts to facilitate the learning of microbiology by presenting the information in a clear and entertaining manner brimming with memory aids. Our approach has been to: 4) Create a conceptual, organized approach to the organisms studied so the student relies less on memory and more on logical pathophysiology. The text has been updated to include current information on rapidly developing topics, such as HIV and AIDS (vaccine efforts and all the new anti-HIV medications), Ebola virus, Hantavirus, E. coli outbreaks, Mad Cow Disease, and brand-new antimicrobial antibiotics. The mnemonics and cartoons in this book do not intend disrespect for any particular patient population or racial or ethnic group but are solely presented as memory devices to assist in the learning of a complex and important medical subject. We welcome suggestions for future editions. 1) Write in a conversational style for rapid assimilation. 2) Include numerous figures serving as "visual memory tools" and summary charts...
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...NINTH EDITION Burton’s MICROBIOLOGY FOR THE HEALTH SCIENCES Paul G. Engelkirk, PhD, MT(ASCP), SM(AAM) Biomedical Educational Services (Biomed Ed) Belton, Texas Adjunct Faculty, Biology Department Temple College, Temple, TX Janet Duben-Engelkirk, EdD, MT(ASCP) Biomedical Educational Services (Biomed Ed) Belton, Texas Adjunct Faculty, Biotechnology Department Temple College, Temple, TX Acquisitions Editor: David B. Troy Product Manager: John Larkin Managing Editor: Laura S. Horowitz, Hearthside Publishing Services Marketing Manager: Allison Powell Designer: Steve Druding Compositor: Maryland Composition/Absolute Service Inc. Ninth Edition Copyright © 2011 Lippincott Williams & Wilkins, a Wolters Kluwer business © 2007 Lippincott Williams & Wilkins, © 2004 Lippincott Williams & Wilkins, © 2000 Lippincott Williams & Wilkins, © 1996 Lippincott-Raven, © 1992, 1988, 1983, 1979 JB Lippincott Co. 351 West Camden Street Baltimore, MD 21201 Printed in the People’s Republic of China All rights reserved. This book is protected by copyright. No part of this book may be reproduced or transmitted in any form or by any means, including as photocopies or scanned-in or other electronic copies, or utilized by any information storage and retrieval system without written permission from the copyright owner, except for brief quotations embodied in critical articles and reviews. Materials appearing in this book prepared by individuals as part of their official duties as U.S. government employees...
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...THE FUTURE OF TECHNOLOGY OTHER ECONOMIST BOOKS Guide to Analysing Companies Guide to Business Modelling Guide to Business Planning Guide to Economic Indicators Guide to the European Union Guide to Financial Markets Guide to Management Ideas Numbers Guide Style Guide Dictionary of Business Dictionary of Economics International Dictionary of Finance Brands and Branding Business Consulting Business Ethics Business Strategy China’s Stockmarket Globalisation Headhunters and How to Use Them Successful Mergers Wall Street Essential Director Essential Economics Essential Finance Essential Internet Essential Investment Essential Negotiation Pocket World in Figures THE FUTURE OF TECHNOLOGY THE ECONOMIST IN ASSOCIATION WITH PROFILE BOOKS LTD Published by Profile Books Ltd 3a Exmouth House, Pine Street, London ec1r 0jh Copyright © The Economist Newspaper Ltd 2005 All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the prior written permission of both the copyright owner and the publisher of this book. The greatest care has been taken in compiling this book. However, no responsibility can be accepted by the publishers or compilers for the accuracy of the information presented. Where opinion is expressed it is that of the author and does not necessarily...
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...STARS WITHOUT NUMBER For Eden, who gave me a reason. TABLE OF CONTENTS Introduction ..............................................................................................................5 Character Creation ....................................................................................................7 Psionics ...................................................................................................................25 Equipment ..............................................................................................................33 Systems ...................................................................................................................59 The History of Space ...............................................................................................71 Game Master’s Guide ..............................................................................................78 World Generation ...................................................................................................87 Factions .................................................................................................................113 Adventure Creation ...............................................................................................128 Alien Creation .......................................................................................................138 Xenobestiary ........................................................................
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...CALIFORNIA CALIFORNIA An Interpretive History TENTH EDITION James J. Rawls Instructor of History Diablo Valley College Walton Bean Late Professor of History University of California, Berkeley TM TM CALIFORNIA: AN INTERPRETIVE HISTORY, TENTH EDITION Published by McGraw-Hill, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Previous editions © 2008, 2003, and 1998. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. This book is printed on acid-free paper. 1234567890 QFR/QFR 10987654321 ISBN: 978-0-07-340696-1 MHID: 0-07-340696-1 Vice President & Editor-in-Chief: Michael Ryan Vice President EDP/Central Publishing Services: Kimberly Meriwether David Publisher: Christopher Freitag Sponsoring Editor: Matthew Busbridge Executive Marketing Manager: Pamela S. Cooper Editorial Coordinator: Nikki Weissman Project Manager: Erin Melloy Design Coordinator: Margarite Reynolds Cover Designer: Carole Lawson Cover Image: Albert Bierstadt, American (born...
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...Jurassic Park Michael Crichton Copyright Michael Crichton (c) 1991 All Rights Reserved The right of Michael Crichton to be identified as the author of this work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988. First published in Great Britain in 1991 by the Random Century Group 20 Vauxhall Bridge Rd, London SWIV 2SA Century Hutchinson South Africa (Pty) Ltd PO Box 337, Bergvlei 2012 South Africa Random Century Australia Pty Ltd 20 Alfred St, Milsons Point, Sydney, NSW 2061 Australia Random Century New Zealand Ltd PO Box 40-086, Glenfield, Auckland 10 New Zealand A CIP Catalogue Record for this book is available from the British Library ISBN: 0 7126 4686 8 Printed in England by Clays Ltd, St Ives plc For A-M and T "Reptiles are abhorrent because of their cold body, pale color, cartilaginous skeleton, filthy skin, fierce aspect, calculating eye, offensive smell, harsh voice, squalid habitation, and terrible venom; wherefore their Creator has not exerted his powers to make many of them." LINNAEUS, 1797 "You cannot recall a new form of life." ERWIN CHARGAFF, 1972 Introduction "The InGen Incident" The late twentieth century has witnessed a scientific gold rush of astonishing proportions: the headlong and furious haste to commercialize genetic engineering. This enterprise has proceeded so rapidly-with so little outside commentary-that its dimensions and implications are hardly understood at all. Biotechnology promises the...
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...GMAT GRADUATE MANAGEMENT ADMISSION TEST McGraw-Hill’s 2008 Edition James Hasik Stacey Rudnick Ryan Hackney New York | Chicago | San Francisco | Lisbon London | Madrid | Mexico City | Milan | New Delhi San Juan | Seoul | Singapore | Sydney | Toronto Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Manufactured in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. 0-07-151120-2 The material in this eBook also appears in the print version of this title: 0-07-149340-9. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please contact George Hoare, Special Sales, at george_hoare@mcgraw-hill.com or (212) 904-4069. TERMS OF USE This is a copyrighted work and The McGraw-Hill Companies, Inc. (“McGraw-Hill”) and its licensors reserve all rights...
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...ISI, IBSS & SA DHET - FOR 2012 SUBMISSION TITLE LIST COUNTRY ISSN E-ISSN PUBLISHER'S DETAILS Subject classifaction International Accreditation - SA JOURNALS 4Or-A Quarterly Journal Of Operations Research ISI SCIENCE A + U-Architecture And Urbanism ISI ARTS & HUMANITIES A Contrario IBSS Aaa-Arbeiten Aus Anglistik Und Amerikanistik ISI ARTS & HUMANITIES Aaohn Journal ISI SCIENCE Aaohn Journal ISI SOC SCIENCE Aapg Bulletin ISI SCIENCE Aaps Journal ISI SCIENCE Aaps Pharmscitech ISI SCIENCE Aatcc Review ISI SCIENCE Abacus: Journal Of Accounting, Finance And Business Studies IBSS Abacus-A Journal Of Accounting Finance And Business StudiesISI SOC SCIENCE Abdominal Imaging ISI SCIENCE Abhandlungen Aus Dem Mathematischen Seminar Der UniversISI SCIENCE Abstract And Applied Analysis ISI SCIENCE Abstracts Of Papers Of The American Chemical Society ISI SCIENCE Academia-Revista Latinoamericana De Administracion ISI SOC SCIENCE Academic Emergency Medicine ISI SCIENCE Academic Medicine ISI SCIENCE Academic Pediatrics ISI SCIENCE Academic Psychiatry ISI SOC SCIENCE Academic Radiology ISI SCIENCE Academy Of Management Annals ISI SOC SCIENCE Academy Of Management Journal ISI SOC SCIENCE Academy Of Management Journal IBSS Academy Of Management Learning & Education ISI SOC SCIENCE Academy Of Management Perspectives ISI SOC SCIENCE Academy Of Management Perspectives IBSS Academy Of Management Review ISI SOC SCIENCE Academy Of Management Review IBSS Academy Of Marketing Science Review IBSS Acadiensis...
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...This page intentionally left blank Entrepreneurship Second Edition William Bygrave Babson College Andrew Zacharakis Babson College John Wiley & Sons, Inc. To Frederic C. Hamilton and John H. Muller, Jr., pioneers, entrepreneurs, and benefactors of Babson College. VICE PRESIDENT AND PUBLISHER EDITOR EDITORIAL ASSISTANT MARKETING MANAGER PHOTO EDITOR DESIGNER PRODUCTION MANAGER SENIOR PRODUCTION EDITOR GEORGE HOFFMAN LISE JOHNSON SARAH VERNON KAROLINA ZARYCHTA HILARY NEWMAN RDC PUBLISHING GROUP SDN BHD JANIS SOO JOYCE POH Cover image © panorios/iStockphoto This book was set in 10.5/12pt Adobe Garamond by Laserwords Private Limited and printed and bound by RR Donnelley. The cover was printed by RR Donnelley. This book is printed on acid free paper. Founded in 1807, John Wiley & Sons, Inc. has been a valued source of knowledge and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Our company is built on a foundation of principles that include responsibility to the communities we serve and where we live and work. In 2008, we launched a Corporate Citizenship Initiative, a global effort to address the environmental, social, economic, and ethical challenges we face in our business. Among the issues we are addressing are carbon impact, paper specifications and procurement, ethical conduct within our business and among our vendors, and community and charitable support....
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...___________________________ LIVING HISTORY Hillary Rodham Clinton Simon & Schuster New York • London • Toronto • Sydney • Singapore To my parents, my husband, my daughter and all the good souls around the world whose inspiration, prayers, support and love blessed my heart and sustained me in the years of living history. AUTHOR’S NOTE In 1959, I wrote my autobiography for an assignment in sixth grade. In twenty-nine pages, most half-filled with earnest scrawl, I described my parents, brothers, pets, house, hobbies, school, sports and plans for the future. Forty-two years later, I began writing another memoir, this one about the eight years I spent in the White House living history with Bill Clinton. I quickly realized that I couldn’t explain my life as First Lady without going back to the beginning―how I became the woman I was that first day I walked into the White House on January 20, 1993, to take on a new role and experiences that would test and transform me in unexpected ways. By the time I crossed the threshold of the White House, I had been shaped by my family upbringing, education, religious faith and all that I had learned before―as the daughter of a staunch conservative father and a more liberal mother, a student activist, an advocate for children, a lawyer, Bill’s wife and Chelsea’s mom. For each chapter, there were more ideas I wanted to discuss than space allowed; more people to include than could be named; more places visited than could be described...
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