...innovator in the sports apparel industry by creating sports apparel using synthetic materials as an alternative to natural fibers, such as cotton. This important change in material resulted in a “shirt that provided compress ion and wicked perspiration off your skin rather than absorb it…that worked with your body to regulate temperature and enhance performance” . This promise to increase athletic performance differentiated it from competing sports apparel companies, but rivals have since implemented synthetic materials into their product lines. This case study seeks to analyze Under Armour ’s history, resources, capabilities, and core competencies, business and corporate-level strategies, as well as the general environment and competitive landscape. After careful inspection of these varying areas, the factors contributing to Under Armour’s current success and future challenges will become clearer. The conception for Under Armour began over a year ago when CEO Kevin Plank played on the University of Maryland football team. Frustrated with having to repeatedly change his cotton shirt during practice, he envisioned a shirt whose materials allowed the perspiration to dry quickly, causing the athlete to be quicker, faster, and stronger as a result of less burdensome water weight. he strived to develop a shirt using synthetic materials that handled perspiration better. He developed a shirt that used synthetic materials to handle...
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...a global team dedicated to serving customers worldwide with the highest level of quality, service, and technology. Bridgestone Corporation is a flat divisional organization with geographic regions that only one CEO. Bridgestone has 143,124 employees and 16,019 non-consolidated employees; they have a board of directors which the CEO is a representative board member. They have plants in 25 countries worldwide. Bridgestone is dedicated to planning, manufacturing, sale, installation, lease, repair, and maintenance of the equipment and facilities related to tires, tubes for automobiles as well industrial general rubber products. Materials of natural rubber, synthetic rubber, synthetic fiber, synthetic resins, chemicals, ceramics, metals, liquefied gases, and those processed goods, materials for public works, and construction, marine structures, and machines for prevention of environmental pollution. Industrial machines, and equipment, such as machines and facilities for manufacturing rubber, synthetic fiber products and machines and facilities for metal processing,...
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...Introduction: One of the many problems of any home or infrastructure is keeping the shininess and the cleanliness of the floor and only thing that make this possible is the product called Floor wax it is applied on floor surfaces to make it scuff-resistant, water-resistant, slip resistant and glossy. It provides a thin, protective and hard surface layer when applied to flooring. In this modern age, floor polishes is made from synthetic materials and with the advancement of synthetics so does floor wax, each passing day over half a million people are using floor wax even as we speak someone is using it! But of all the useful traits that floor wax gives us at our floors there are always disadvantages to it and the first disadvantage is our environment, since floor wax is made out of highly synthetic materials its is non-biodegradable. The second is that floor wax contains toxic substances that can either cause severe damage to humans and animal life if came in contact. Third is prolong exposure of its unpleasant smell can cause different problems throughout the body. Fourth is that it can cause damage to the plants since floor wax contains volatile substances that can block plants from doing photosynthesis Despite the recent efforts by various organizations efforts to educate the public about the toxic dangers of floor wax no one seems to believe them due to the effectiveness of the modern floor wax but still its harming our environment. Our research aims to put these problems...
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...Case 5: Financing PPL Corp.’s Growth Strategy Study Questions 1. Evaluate PPL’s growth strategy and financing policies. Why is it important for PPL to seek out alternative financing strategies instead of using its own corporate balance sheet? In the early 1990’s, the anticipation of deregulation in the electricity marketplace led PPL to change its business strategy. It was essential for them to enter the market as soon as possible or they may have faced barriers to entry. In 1994, PPL established a new subsidiary now known as PPL Global. PPL Global pursued opportunities in the deregulated electricity market and was employed its growth strategy for the future. They specifically explored opportunities in power generation, marketing, and trading. The management had a belief that their vertical integration was a good thing as they had prior experience in the segments and this would enable them to balance out the unstable earnings from the deregulated, and the more stable earnings from the regulated transmission and distribution businesses. In 1998 PPL reduced dividends, increased their target payout ratio from 45% to 55%, and bought back 17 million shares of common stock. These actions by the company were made to try and fund growth within the company by increasing cash flows. In 2001, PPL was successful in securitizing its electric delivery business. The electricity industry, being a capital intensive industry required them to have access to low cost capital. Their need to...
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...bepress Legal Series Year Paper Enron and the Special Purpose Entity. Use or Abuse? The Real Problem - The Real Focus Neal F. Newman Texas Wesleyan Law School This working paper is hosted by The Berkeley Electronic Press (bepress) and may not be commercially reproduced without the permission of the copyright holder. http://law.bepress.com/expresso/eps/1165 Copyright c 2006 by the author. Enron and the Special Purpose Entity. Use or Abuse? The Real Problem - The Real Focus Abstract In December of 2001, Enron Corporation filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code; one of the largest corporate bankruptcy filings at that time. When the investigations commenced and the tangled Enron web was unraveled, it was discovered that Enron had perpetrated a very sophisticated form of accounting fraud through its repeated use of what are referred to as Special Purpose Entities (“SPEs”). In their most basic forms, SPEs are business entities formed for the purpose of conducting a well specified activity such as construction of a gas pipeline, or collection of a specific group of accounts receivable. However, because of their complex nature, SPEs can be used to manipulate a corporation’s financial results, which was the primary use for which Enron employed the SPE structure. As a result, the investment and financial community has cast a dark cloud over the special purpose entity, depicting the SPE as an inherently evil structure whose only purpose is to...
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...Death of the Operating Lease Running head: DEATH OF THE OPERATING LEASE 1 Death of the Operating Lease and its Impact on Leading U.S. Companies Mark S. Lynn Mount St. Mary’s University Copyright 2010, Mark S. Lynn Death of the Operating Lease Abstract The proposed elimination of operating lease treatment by the IASB and FASB, as outlined in 2 their discussion paper, Leases – Preliminary Views, will have a varying degree of impact on U.S firms. After a review of the evolution of lease accounting and a discussion of financial ratio analysis, this paper examines the impact of the proposed accounting change on common financial ratios of 142 large public companies. The proposal requiring the capitalization of all lease arrangements is generally detrimental to such financial measurements, with significant variability among industry sectors. Through surveys and interviews, it is further determined that while a majority of corporate financial executives do not support the proposed accounting change, they have yet to analyze the impact and prepare for the effects of the change within their own companies. Copyright 2010, Mark S. Lynn Death of the Operating Lease Death of the Operating Lease and its Impact on Leading U.S. Companies 3 “We are only tenants, and shortly the great Landlord will give us notice that our lease has expired.” ~ Joseph Jefferson (1897, p. 476). A lease is broadly defined as a contract by which an owner of property grants to another...
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...Status Report on World Textiles & Likely future trends Presented to :Gherzi Eastern Ltd Mumbai Prepared by :Madhav Mehta UTI Institute of Capital Markets Table of Contents Acknowledgements Executive Summary Objectives of the Study Terms of Reference Data Collection & Sources Assessment of Supply Side International Trade Data Analysis Assessment of Demand International Trade Historical Trends and future projections Evaluation of manufacturing costs Assessment of other business considerations Growth in capacities required to meet projected capacities and likely candidates Case: India Statement of Limitations 3 4 5 6 7 8-20 21-28 29-33 34-36 37-44 45-49 49-50 51-59 60 2 Acknowledgements At the outset, I would thank Gherzi Eastern Ltd for providing me an opportunity to work with them. My special thanks to Mr. Durga Prasad for acting as a conduit to this opportunity with Gherzi Eastern Ltd as also for his valuable guidance & insights. I have extreme gratitude for Mr. V.N.Karvir who has been all through with me in this project, shared his experiences, provided utmost necessary and valuable guidance to me. Without, his assistance and guidance this report & its contents would not have taken shape in the manner in which it is prepared, analyzed and presented. I would also like to thank my friend and batch mate Mr. Amol Agrawal for making known to me some important data sources and for being a good listener all times to my approaches and ideas. Last but not the...
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...Morphological typology refers to the nomenclature of the method used to classify languages depending on the way in which their morphemes are joined together. In one side of the spectrum we can find analytic languages, which only use isolated morphemes. Then we would have agglutinative languages and fusional languages which use bound morphemes, melting them together in order to convey several meanings. Located on the other side of the spectrum are the so called polysynthetic languages, which compress lots of separate morphemes into single words. Nevertheless, before getting into depth in the morphological typology of languages, and also the patterns of word formation, it must be explained the core concept covered within this paper: the concept of word. Although it may seem simplistic, the study and analysis of this concept entails certain difficulty and may vary from one culture/language to another. Most scholars make a distinction between phonological and grammatical word as principal distinctions. A phonological word can be defined as a prosodic unit not smaller than a syllable (Aikhenvald). It is a string of sounds that behaves as a unit for certain kinds of phonological processes, especially stress and accent. Normally, it is not needed to make a distinction between these two types of words in utterances like linguistics or science. However, there are cases in which this differentiation arises as necessary. For example, in English every phonological word has a main...
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...of their new top management. In this McKinsey Awardwinning article, he chronicles the events that led him to realize that, without open communication to foster employee trust and display management commitment, even the most sophisticated strategy can come unstuck. In August 1980,1 was named general manager of the newly created Westinghouse Synthetic Fuels Division (SFD). The division's nucleus was a department engaged in coal gasification research and development and supported, in part, by the US Department of Energy. The technology was highly regarded, and the outlook for syntbetic fueis was promising. Oil prices v/ere continuing to rise; worldwide oil shortages were forecast, as were crude oil prices of $100 per barrel; and the Carter administration had just created the Synthetic Fuels Corporation to stimulate the production of synfuels from domestic resources and reduce US dependence on imported oil. Before my assignment at SFD, I had been general manager of a division that marketed turbine generators and related services H. Peaci is v'icc president and general manager of KKW Kncrgy Systems Inc., fbrmi^rjy the Westin^^houst.' Synthetic Kuels Division.. This article, which vv'on a McKinsey Foiind.;ition Award as one ofla.st year's outstanding contributions to thv Harvard Biisin,css Rvriea\ is reprinted by special permission from the M.arch-April I'^tSH issue. Copyright i'(") 19H6 by the President and Fellows of f!.;M-vard College. All "ights res(;rved. SPRING 1987 25...
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...Procurement Assignment 1- Part A Industry: Automobile Ancillaries (Tyres & Tubes) Financial Year 2011-2012 | Turnover of Indian Tyre Industry | Rs. 43,000 Crores | Tyre Production (Tonnage) | 15 lakh M.T. | Tyre Production – All Categories (Nos.) | 2254 Lakh | Tyre Export from India (Value) : | Rs. 4209 crores | Number of tyre companies: | 39 | Industry Concentration | 10 Large tyre companies account for over 95% of total tyre production. | Radialisation Level - Current (as a % of total tyre production) | Passenger Car tyres: 98% Light Commercial Vehicles: 20% Heavy Vehicles ( Truck & Bus ): 18% | Major Players of Tyres & Tubes in India * MRF Tyres Ltd. * Apollo Tyres Ltd. * CEAT Ltd. * Balkrishna Industries Ltd. * Govind Rubber Ltd. * Falcon tyres Ltd. * JK Tyres & Industries Ltd. Company of Interest: MRF Tyres Ltd. Company Background: Mr K. M. Mammen is the CMD of the company. The promoters hold about 26% of the total equity in the company, while institutional investors hold about 14% and individuals hold about 34%. Industry group: Tyres & tubes Main product / service: Tyres Ownership group: MRF Group Entity type: Public Ltd. Incorporation year: 1960 Size group: Top decile Ranking: Global Ranking 2012 Ranking | 2011Ranking | Company | 2011 tyre sales (100 million U.S.dollars | 2010 tyre sales (100 million U.S.dollars) | 2009 tyre sales (100 million U.S.dollars) | 17 | 17...
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...1. Differentiate between staple fibres and continuous fibres. Staple fibres are fibres that are produced in short lengths, spun and twisted together (raw cotton, wool, flax, hemp e.t.c) to form long yarns while Continuous filament are long continuous strand of a manufactured fibre as distinguished from all natural fibres (except silk) which are piled together to form continuous bundles of fibre. They are mostly synthetic fibres except silk which is natural. Staple fibres | Continuous filament | They will shed loose filaments for a short time following carpet installation | They will not shed loose filaments following carpet installation | They are usually short strand of fibre | They are usually continuous strand of fibre i.e long | They appear dull or matte finishes | They appear lustrous | They offer more design opportunities | They offer limited design opportunities | They tend to be rough | They tend to be less fuzzy and smooth | 1. Name other types of cellulosic fibres asides cotton, giving their sources and uses. Cellulosic fibres are fibres made with ether or esters of cellulose, which can be obtained from the barks, wood or leaves of plants or from plant-base materials. Besides cellulose, these fibres are compound of hemi-cellulose and lignin. Fibre | Source | Attribute | Uses | Coir | Coconut | Strong, durable | Making floor mats, door mats, brushes, mattress | Jute | Vegetable plant in linden family | Strong, durable | Curtain...
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...Americans built subsidiaries in Canada to avoid tariff (11) * Rubber industry increasingly centralized, foreign-owned + controlled (11) * Canadian rubber industry expanded significantly prior to second world war (12) * Prewar period (WWII) + consumption of cars made rubber industry a necessity (12) * Dunlop invented air + rubber tire (1849) – very successful (13) * Rubber still imported from overseas – created very high expenses (13) * Massive scientific advancements worldwide during WWII (14-20) * Huge attempts at creating a domestic supply of rubber (15) * Had many minor successes – nothing that levelled up to natural rubber (20) * Canada still 100% dependent on foreign forms of rubber, natural and synthetic (22) Chapter 2 – Birth of the Industry * Dec 1941 – Japan invaded + gained control of a lot of Allied rubber...
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...fixed assets, with over 30% of all new capital equipment being currently financed through lease arrangements. Lease transactions involve two parties: the lessor, who owns the property, and the lessee, who gains the right to use of the property in exchange for one or more lease, or rental, payments. | | Types of Leases | | In chapter 19, you will find a description of the five most important types of leasing arrangements, which include 1. operating lease, 2. financial, or capital, lease, 3. sale-and-leaseback arrangement, 4. combination lease, and 5. synthetic lease. Please keep an eye on the so called "synthetic" leases, which are still subject to a great deal of controversy after their "creative" use by such corporate names as Tyco and Enron. | | Tax Effects | | The full amount of the lease payments is a tax-deductible expense for the lessee for as long as the IRS agrees that a particular contract is a genuine lease and not just a loan called a lease. This makes it important that a lease contract be written in a form that complies with IRS requirements. A lease that complies is called a tax-oriented lease, and the tax benefits of ownership (depreciation and any investment tax credits) belong to the lessor (tax guidelines are presented on pp. 736-738). | | FAS 13 - Capitalized versus Operating Leases | | The process of long-term lease capitalization is regulated...
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...Account Lease Abstract Accounting is accompanied by a growing economy; the economic development faster and the accounting become more important. With the rise of the global leasing industry, lease accounting has also been more and more attention. Lease accounting can be divided two parts: one is operating leases and another is finance lease. Finance lease’s ownership can transfer but the operating lease is not completely transferred that it cannot record in the balance sheet. This is seriously affecting the quantity of accounting. So, ISAB want to change the lease accounting terms, which make accounting information become reliable. This essay will describe ED242terms of lease accounting provisions of the benefits of changing. Introduction A lease accounting terms is ED242. ISAB think it not only provides complete information about 12 months later, indicated that it for the company to provide within 12 months of operating leases the assets and liabilities of information. Compare with other lease accounting terms, they only consider the intangible of the lease, and the balance sheet will not be recorded within 12 months. For the ED 242 term, it uses the method of the lessor acknowledge to underlying assets of the underlying assets under the terms of the lease contract, which is the subject of the liability under the lease contract, to confirm the use of the right of use (Vivien, 2006, P86). The result will require...
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...milk by not drinking it but wearing it. Yes, in the form of milk fabrics made from milk yarns. It’s quite amazing and sounds nice, isn't it? The Eco- Friendly Milk Yarn Milk Yarn is made from milk protein fibers. To make it, milk is first dewatered, i.e. all the water content is taken out from it and then it is skimmed. New bio-engineering technique is then applied to make a protein spinning fluid. This fluid is suitable for wet spinning process through which the final high-grade textile fiber is made. While spinning, a solvent is used by most of the manufacturers and micro-zinc ion is embedded in the fiber which gives it the characteristics of being bacteriostatic and durable. It combines the advantages of both, natural as well as synthetic fibers. Milk protein fiber is a kind of fresh fiber that has very healthy functions. It contains eighteen amino-acids, which are beneficial to human health. It can be spun alone or with cashmere, silk, spun silk, cotton, wool, ramie and other fibers to make fabrics. The fabrics made of these fibers nourish and take care of skin in a very efficient manner by keeping away allergies and even wrinkles. The fabrics made from milk yarn are primarily used in manufacturing kidswear, top-grade underwear, shirts, T shirts, loungewear, etc. Characteristics of Milk Yarn The milk yarn has got many properties that are enough to make it one of the most sought after fabrics of the future. - The natural protein humectant factor is present in the milk...
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