...CASE STUDY: ECONOMY SHIPPING COMPANY (ABRIDGED) Submitted to: Prof. Roy C. Ybanez MSFIN 222 Submitted by: BASCON, Roland Billy CAJEGAS, Lester ORTIZ, Karmi Ann SALVADORA, Jerick Cezar 02 October 2014 Problem Statement Steamboats are essential parts of Economy Shipping Company (ESC)’s business for it is the main mode of transporting coals from nearby mines to various delivery points. And with the ageing group of steamboats that the company owns, the company is concerned about the status of one of its steamboat – Conway, which is 23 years old and requiring immediate rehabilitation or replacement. Analysis of Alternatives ESC is in consideration of two alternatives as follows: Alternative 1: Replace Conway with a new diesel-powered boat today; sell the Conway and its parts; overhaul the diesel engines in year 10; sell the diesel engine and its parts inventory in year 20 Alternative 2: Rehabilitate the Conway today; operate the Conway for another 30 years; scrap the Conway at the end of year 20. Presented below are the relevant cash flows associated with both alternatives. Since ESC was considering other projects with the rate of 10%, each of the above-mentioned options was considered using the same rate of return. (See attached annex for detailed computation) Alternative 1 Year | Specific Item | After-Tax Cash Flows (48%) | Present Value (10%) | 0 | Selling price of Conway (net of tax) | 31,960 | 31,960 | 0 | Selling price of Conway’s...
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...1835. He was raised in Hannibal, a small town on the banks of the Mississippi. In 1857, being away from Mississippi for several years, Twain fulfilled his boyhood dream by becoming a pilot on a riverboat. Growing up in Mississippi, Twain’s only ambition was to be a pilot on a riverboat (Twain, p.197). The town was drowsy in the sunshine of the summer’s morning; the streets were empty; a few clerks sat on splintered chairs outside their stores, with hats over their face while they were asleep. Nobody paid attention to the peaceful waves of the Mississippi but the town came alive when they heard a steamboat coming (Twain, p198). Twain’s focus was on steamboats and the Mississippi (particularly Walnut Bend). Twain remarked how handsome a steamboat was and his attention to detail showed his desire for the American dream of being a pilot. He focused on the architecture of the steamboat and the natural elements of Walnut Bend. “She is long, sharp, trim, and pretty; two tall fancy-topped chimneys; a fancy pilot-house, all glass and gingerbread; and a flag gallantly flying from the jack-staff (Twain, p198). This was Twain’s view of his future even before being on the boat. Along the river, Twain was able to remember every Island, town, bars, points, masses of lumber, and bends of Walnut Bend (Twain, p203). He stood bewitched and took it all in. The world was new to him and felt nothing like home (Twain, p212). The effect that his focus had on his life is that he wanted nothing more...
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...Fabian torres GE273 4/28/11 W7 The issue being raised in chapter 1 of Against Intellectual Monopoly by Boldrin and Levine is copyright laws being used for “the creation of unnecessary monopoly.” By patenting an idea pertaining to steam powering and engine, James Watt was insured that no other could use his/her idea, at least not without paying royalties through licensing or suffering the consequences of the legal system. This would prove to be beneficial to Watt but detrimental for the early innovation of the steam engine. (Boldrin and Levine 1) According to Boldrin and Levine, “the fuel efficiency of steam engines changed little during the period of Watt’s patent; while between 1810 and 1835 it is estimated to have increased by a factor of five.” Watt blocked the innovation of the steam engine by putting a patent on the idea. Other inventors and modifiers of the steam engine were holding their advancements of the steam engine until after the patent as to not suffer legal issues. The transportation and working industry could have been better off earlier if it weren’t for Watt’s patent. Because of the patent, Watt’s had no competition. Competition could have brought more ideas to Watt and other inventors. Even when Watts’ patent expired, the competition made cheaper steam engines which were no match for Watts’ more experienced and excellent productions. By being the first to patent his idea, Watt used the legal system to his advantage. By keeping other innovators...
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...Economic History, Vol. 40, No. 2. (Jun. 1980): 281-308. By 1900 almost 156,000 steam engines were used in factories. This is where the steam engine first gained popularity. The article also discusses the spread of the steam engine for various uses, one of which became known as the steamboat. In spite of the importance accorded the steam engine during nineteenth-century industrialization, little is known about its rate of diffusion in the United States. Another purpose of this paper is to enhance our knowledge about the spread of this technology. New evidence on steam power use in 1820, 1850, and 1860, combined with published census data from 1870, permits quantitative estimates of the regional variations in timing, pace, and extent of usage before 1900. Brown, Alexander Crosby “The Old Bay Line of the Chesapeake: A Sketch of a Hundred Years of Steamboat Operation.” William and Mary College Quarterly Historical Magazine, 2nd Ser., Vol. 18, No. 4. (Oct. 1938): 389-405. This Article begins by talking about the Baltimore Steam Packet Company, which was organized in 1839 and incorporated by Maryland the next year. This article then goes on to talk about the “Old Bay Line” which is a path taken by steamboats in the Chesapeake Bay. The article also states that one of the...
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...How the Steamboat affected early American travel Table of Contents I. Introduction II. Body A. What steamboats are B. What they were used for C. Dangers D. Used in Battles III. Conclusion IV. Bibliography What do you think of when you hear the word steamboat? Do you think of large boilers making steam to power the boat? How about huge smokestacks spewing out soot and flames that could ignite a fire at any moment? These water-crafts are very versatile. Steamboats, or riverboats as they were sometimes called, were used for travel, transportation, recreation, and naval melees. Steamboats were large iron boats that were used in many ways. People and goods could easily be transported from place to place. There were also many dangers involved with steamboat travel. Because they were powered by steam that means fire. Smoke and soot came spewing out from the smokestacks but that was not all. Fire and sparks emerged from the smokestacks also. This is what posed a problem, and because of it many fires broke out. If the boiler became too hot boats themselves might even blow up! Even with these dangers steamboats were very popular. They were stronger and more powerful than sailboats. These boats would could be used in many battles. They could withstand a lot more...
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...Ever since the steamboat industry took off, Gary was in there trying his best to make money and be the best captain in America. He was doing a good job of it to, as he was rated the top 5 Steamboat Captains in the country. It is a very competitive business, all of the captains are gnarly. There are thousands of steamboats out on the rivers every day. Most of them used to have slaves as their crew, but ever since slavery was outlawed, it has been different. Gary never believed in slavery, so he had his best friends working for him. Gary’s home is his boat. He has a bed on the boat because he is always in a different port every day. Him and his crew wake up and put on their dirty work clothes and eat some breakfast. Sometimes they go...
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...The invention we chose was the water frame, which was invented in 1768 by Richard Arkwright. This invention fell under the instrument field. Originally patented as the spinning frame in 1769, and later overturned, the name was then changed to water frame when it was no longer powered by horses, but only by water. He made the invention based off of another invention by Thomas Highs. He made it in the United Kingdom, where he also lived. Born to Thomas and Ellen Arkwright on December 22, 1732 in Preston, Lancashire, England. He was a barber and he also made wigs, before realizing how much more money he could make by inventing something. So, he teamed up with John Kay, a clockmaker, who was working with Thomas Highs, to help build this “spinning wheel”. He also employed some local craftsman to assist in the project. The invention of the water wheel transformed the textile industry and helped usher in the Industrial Revolution. It was able to produce threads that were stronger than that of any of the other machines. It had three sets of paired rollers with turned at several different rates of speed. While the rollers were producing the yarn, a set of spindles were twisting the fibers. Because it used water as the main source of power, it saved a lot of energy. It used hydroelectricity, kinetic energy, and potential energy to power it. And because it was able to make thousands of cotton threads at once, and also with it being very easy to use, the machine saved a lot of work. It helped...
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...period that marked the nineteenth century, was the development of navigational related techniques that allowed for the discovery of America and of an all-water route to the Orient (Cameron & Neal, 2003). These feats were considered some of the greatest events ever recorded and played a large part in economic history. One of the first fundamental innovations was the significant developments in steam engine technology, which allowed for many different contributions. This included lighter, stronger metals, more precise tools, and a better sense of scientific knowledge, including mechanics, calorimetry, metallography, the theory of gases and also the embryonic science of thermodynamics. It also led to the use of steam engines to propel steamboats and locomotives, and thereby, increasing the efficiency of engines greatly (Cameron & Neal, 2003). The expansion of the steel industry also had a large impact. Steel rails, which were used for railways, lasted much longer and were also safer than iron rails. Steel plates that were used in the process of shipbuilding produced larger, lighter, and faster ships. Steel beams also made it possible to construct skyscrapers as well as many other structures. Another innovations which furthered economic development was transportation and communication. In terms of transportation, railways offered a cheap and fast way to transfer goods and people, and steamships also played a major role in integrating the world economy in the nineteenth...
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...Did you know that the Ancient Mesopotamians invented the sailboat, one of the most important inventions ever? Probably not! If the Ancient Mesopotamians didn’t invent the sailboat life might of been different as we know it! The ancient Mesopotamian sailboat was cause by the geography from Mesopotamia causing it to have a unique look, the sailboat has affected the Mesopotamians and our world. Thanks to the geography that cause flooded rivers (The Euphrates and Tigris) Mesopotamia was supplied with papyrus reeds to make many things. Reeds were very important and made linen to make a sail, and the plain reeds were added to the base. Wood was also used to make parts of the base and the amat. Trees and the flooded river made the sailboat possible...
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...graduation in 1768. But after, he served in the Revolutionary War, later his focus shifted towards inventing transportation John Stevens was an inventor in the late 1700s, early 1800s, who invented many different ways of transportation. He is responsible for the invention of laying the idea of the railroad system down, and also the first steam powered ferry. Stevens got many of his ideas from pioneers James Rumsey and John Fitch, although his designs were very different. Stevens first railroad, which was set in what is now New Jersey, was very impressive, lying almost from coast to coast. He was known was the first successful conductor of the railroad system in the United States. Before the railroad was invented people would use the steamboat. Steam was used to drive boats through the water. Inventors had been looking for ways to use steam to haul wagons and carriages and to transport goods. Then, the railroad was invented. The railroad was invented for transportation, and trade. It increased trade by providing the means for transporting agricultural products and manufactured goods across the country and to the Eastern seaboard export to Europe. The railroads reduced time travel by 90% and improved transportation all across the US. Thousands of settlers utilized the railroads in 1800s to move west. New cities and towns emerged along the route of the railways. The construction of the railroad is the beginning of US engineering and of great national pride to the US. The Underground...
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...it still allowed additional works made in 1923 or afterwards to be protected under this act until 2019 or later depending on when the product was created. The Copyright Term extension act did not revive any copyrights that had already expired, although it did extend the terms of protection for each copyrighted creation. However, any individuals or corporations work that was created before January 1st, 1978, but hasn’t been published or registered for copyright until recently, are addressed in section 17 U.S.C and will remain protected until the end of 2047. When the Copyright Act was first created in America, the duration was only for 14 years. Today, copyright duration can last over 100 years in some cases. We have Mickey Mouse to thank for this. It all started with Steamboat Willy, the first cartoon that featured Mickey Mouse...
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...MKT 201 Assessment II Case study 4-2 Semester III (Sep 2 – Dec 17) Viktoriia Lebedieva Case 4-2 Disney Learns to “Act Local” on the Global Stage 1) Why is it necessary for Disney to build brand awareness in China and other emerging markets? First of all, let’s define what is “brand awareness” means? Brand awareness means brand recognition. American children were grown up with Disney’s characters, as Mickey Mouse, and others. But Chinese kids don’t, they don’t know what it is. China is one of the great emerging market, as they always devise something new and produce or release it to the global market, where is it actually becomes adopt and popular by the other countries, nations. China market is good opportunity to build good brand and become famous/popular in the global market. China’s, India’s, and Russian’s markets are basically built-in film traditions. So, that’s obviously the right thing to start from one of them, like from China. 2) Do you agree with Disney’s decision to pursue a location approach in emerging markets? Yes, I think that localization approach could make Disnay enter easily into emerging markets. As there are same examples for localization, such as Mulan movie ; Mikey and Minnie Mouse were wore red suits, and so on. 3) Why is High School Musical so successful in global markets? This movie contains three parts. To be honest I like this movie very much. The reason is the new generation of young people love music; they are dreaming about...
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...Disney's other ventures for ABC included "The Mickey Mouse Club" (1955-1959) and "Zorro" (1957-1959). These and such "Disneyland" broadcasts as the Davy Crockett series led to a bonanza from the licensing of such products as Mickey Mouse Club hats, Zorro swords and capes, and Davy Crockett coonskin caps. Through careful market positioning of his product amid those of major film corporations, Disney focused on family entertainment. Live-action films took historical and often patriotic subjects in Johnny Tremain (1957), Old Yeller (1957), Tonka (1958), The Swiss Family Robinson (1960), and Polyanna (1960). The Shaggy Dog (1959) began a series of low-budget comedies such as The Absent Minded Professor (1961) and Son of Flubber (1963) that became mainstays of the company's production. Popular fantasies like Darby O'Gill and the Little People (1959) and Babes in Toyland (1961) led to the blockbuster Mary Poppins (1964). Animation continued in Peter Pan (1953), Lady and the Tramp (1955), Sleeping Beauty (1959), One Hundred and One Dalmatians (1961), The Sword in the Stone (1963), Winnie the Pooh and the Honey Tree (1966), and The Jungle Book (1967). In 1961 Disney changed his broadcasting alliance from ABC to NBC with "Walt Disney's Wonderful World of Color" and the less successful "Disneyland after Dark" series. With more than one-third of corporate income coming from the leisure park, Disney began development of the Mineral King resort. Stalled by ecological concerns, Disney initiated...
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...Disney Company 1). Walter started work as a newspaper boy at the age of nine all the way through his teenage years. At the age of seventeen, Walter dropped out of high school and went overseas to serve in World War I. He served as a ambulance driver for only eleven months. Afterwards, he then returned to Kansas City to start his work as a commercial illustrator. He soon set up his own shop with Ub Iwerks. But due to unforeseen circumstances regarding financial problems, his company went bankrupted and he was sent to Hollywood. He soon resumed making cartoons with his brother as the manager in 1923. He soon met and married Lillian Bounds two years after the founding of The Walt Disney Company. His first major success in Disney Co. was with Steamboat Willie featuring Mortimer Mouse. His wife, Lillian suggested the name Mickey Mouse and Walter adopted the name for the new character. Walter reinvested profits from his recent hit back into production and improved his works. In an biography The invention of such cartoon characters such as Mickey Mouse, Donald Duck, Minnie, and Goofy combined with the daring and innovative use of music, sound and folk material (as in The Three Little Pigs) made the Disney shorts of the 1930s a phenomenon of worldwide success. This success led to the establishment of immensely profitable, Disney-controlled sidelines in advertising, publishing, and franchised goods (Walter Elias Disney 1). Their success led to the expansion of the franchise in several countries...
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...Alexandra Gehrs James Watson James Watson was born on April 6th, 1928, in Chicago, Illinois. He was the only son of Jean and James D. Watson, who was a businessman from English descent. He had one sister named Elizabeth Jean Watson, whom he loved very much. Watson grew up on the southside of Chicago and attended the public schools in the area.Watson attended Horace Mann Grammar School for eight years, and South Shore High School for two years. During his childhood, Watson was fascinated with bird watching with his father, pointing out all of the different types of birds and their ways of living. In 1943, he received a scholarship to the University of Chicago, where he enrolled at fifteen years old. Four years later, he graduated with his Bachelor of Science degree in Zoology. He then attended Indiana University to work on his PhD in Zoology. He graduated in 1950 from Indiana and started to transform his childhood love of bird watching into genetics. During his time at Indiana, Watson had begun to work with X-ray imaging. His thesis was a study based on the effect of intense X-rays on bacterial reproduction, which led him to study more in depth with X-ray imaging and observing photographic patterns created by them. In the fall of 1951, Watson met Maurice Wilkins at Cambridge University. He saw for the first time crystalline DNA’s X-ray diffraction pattern, and moved his laboratory there. After seeing this, Watson decided that he was going to research DNA and discover its structure...
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