...I. Executive Summary Diageo, one of the world’s leading consumer goods companies, was formed from the merger of GrandMet and Guinness. In 2000, the company announced its intention to sell its packaged food subsidiary, Pillsbury, and 20% of its Burger King subsidiary. Because of the restructuring opportunity, the company wanted to rethink its financing mix. In this case, the tradeoff between the costs and benefits of different leverage policies will be discussed. A simulation model was created by Diageo’s director of Finance and Capital Markets, Ian Simpson, and Adrian Williams, the firm’s Treasury Research Manager, to understand the tax benefits of higher gearing and the cost of financial distress. In this report, I will discuss the historical financial policies in Diageo. The actions of selling Pillsbury and spinoff of Burger King will be valued. And the tradeoff theory and Simpson and Williams’ simulation model will be studied and evaluated as well. Finally our conclusion is to choose interest coverage around 5. II. The Case Decision What recommendation would be made for Diageo’s future capital structure? Is Simpson and Williams’ simulation model reliable? III.Facts 1. Diageo was formed from the merger of Guinness and GrandMet. It was the seventh largest food and drink company in the world. 2. The firm was organized along four business segments: Spirits and wine business, Guinness Brewing, Packaged and fast food. 3. Prior to the merger, both of the two companies...
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...TENDENCY AND COINCIDENCE EVIDENCE IN CRIMINAL CASES (Parts of this paper are a repetition of a paper I prepared for the Legal Aid conference last year and which was published in Bar News Criminal Law Special Edition.) Ian Barker QC 1. I have practised law from a time beyond which the memory of man runneth not. At least, that is how it feels. During those years I managed, I think, to develop a slippery hold on fundamentals of the law of evidence, from the myriad cases on the subject. I was recently heartened to read something written by Sir James Stephen in about 1886 in the Introduction to his Digest of the Law of Evidence1. Speaking of the difficulty in finding concise guidance to the law of evidence he said: No such work, so far as I know, exists; for all the existing books on the Law of Evidence are written on the usual model of English law-books, which, as a general rule, aim at being collections more or less complete of all the authorities upon a given subject to which a judge would listen in an argument in court. Such works often become, under the hands of successive editors, the repositories of an extraordinary amount of research, but they seem to me to have the effect of making the attainment by direct study of a real knowledge of the law, or of any branch of it as a whole, almost impossible. The enormous mass of detail and illustration which they contain, and the habit into which their writers naturally fall, of introducing into them everything which has any...
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...GLOBAL SUPPLY CHAIN Term Paper : Proton Supply Chain Challenges Table of Contents 1.0 Company Background 1-4 2.0 Problem Statement 5-7 3.0 Significant of Study 8-10 4.0 Proton Supply Chain Weaknesses 11-18 5.0 Recommendation 19-29 6.0 Conclusion 30 7.0 References 31-32 1.0) Company Background First national car, Proton Saga project was formed embark from the Look East Policy. Perusahaan Otomobil Nasional Sendirian Berhad (PROTON) was formed in 1983 as a company of national car to manage the operation of the national car project. "The Proton Saga is more than just a quality automobile. It is a symbol of Malaysians as a dignified people" quoted by Tun Mahathir Mohammad during the launched of the first model of national car, Proton Saga in 1985. Anyhow, PROTON facing the downfall when Perusahaan Otomobile Kedua Sendirian Berhad (PERODUA) launched in 1993, producing minicars and superminis models which target the different market segments as Proton. For example in 2002, Proton become the 1st of the car supplier in Malaysia, acquired 49.43% of the market share. Anyhow, in 2006, Perodua overtake Proton as the 1st car supplier in Malaysia with 42% of market share, and Proton was 10% behind it. This trend maintain consistently until latest statistic in 2011, Perodua still become the 1st supplier in Malaysia acquired 34% of the market share while Proton maintain the 2nd place with 33% market...
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...The purpose of this assignment is to create an APA formatted reference list for eight articles from reputable sources, and a one paragraph summary for each article selected, and a brief expression of intent on the selected articles. As clearly noted in Creswell (2009) literature review provides the ground work for a preparation of another scientific work. Creswell further notes… “ this literature review passage should summarize large groups of studies instead of individual ones”( Creswell, 2009, p.104). Rhodes, A.L. Total Confinement: Madness and Reason in the Maximum Security Prison (2004) is a book written by Dr. Lorna Rhodes. Her study explores, examines, and recognizes what life is like inside confined walls of solitary units inside prisons. Her study provides not only the image of solitary confinement- but the sense of loss and liberty of humanity when an offender is faced with long periods of extensive isolation from all; but those who feed you (correctional officers). Dr. Rhodes- explores and discusses the challenges that are faced both by the front-line-staff and offenders. Such as, psychological, emotional, and physiological changes- and provides her academic perspective with a scientific response. Rationale for Selection There are a lot of research currently available in-regards to isolation of offenders, and the biological effects on human body, mind, and perceptions. This study is valuable to my research even though the findings are not as scientific as...
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...The purpose of this assignment is to create an APA formatted reference list for eight articles from reputable sources, and a one paragraph summary for each article selected, and a brief expression of intent on the selected articles. As clearly noted in Creswell (2009) literature review provides the ground work for a preparation of another scientific work. Creswell further notes… “ this literature review passage should summarize large groups of studies instead of individual ones”( Creswell, 2009, p.104). Rhodes, A.L. Total Confinement: Madness and Reason in the Maximum Security Prison (2004) is a book written by Dr. Lorna Rhodes. Her study explores, examines, and recognizes what life is like inside confined walls of solitary units inside prisons. Her study provides not only the image of solitary confinement- but the sense of loss and liberty of humanity when an offender is faced with long periods of extensive isolation from all; but those who feed you (correctional officers). Dr. Rhodes- explores and discusses the challenges that are faced both by the front-line-staff and offenders. Such as, psychological, emotional, and physiological changes- and provides her academic perspective with a scientific response. Rationale for Selection There are a lot of research currently available in-regards to isolation of offenders, and the biological effects on human body, mind, and perceptions. This study is valuable to my research even though the findings are not as scientific as...
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...Tutorial for Preschoolers (Alphabet, Numbers, Shapes, Colors and Animals) SERVDAD, REYCHELLE A. CRUZ, MARY JOY B. RAMIREZ, CHERRY A. A project submitted to the Mr. Ronel E. Asas of the Department of Computer Studies, Imus Campus, Cavite State University, Imus, Cavite in partial fulfillment of the final requirements for the subject ITEC55- System Analysis and Design. INTRODUCTION Preschool is a time for developing good learning habits and positive self-esteem. The skills learned at this stage may seem simple but it will set a preschooler for a lifetime of learning. People around them must be aware that they are still trying to figure out the world and everyone must understand them for being distracted and unfocussed with their tutorials. The tutorial is designed to provide opportunities for users to learn essential information. (Meade,2011) Learning from preschool software can start as soon as children can effectively handle a mouse. Usually, around three or four years of age, preschoolers can readily spend up to a half an hour per day on the computer. Children like the independence and stimulation of interacting with computerize activities. If they are able to use a mouse, that was an indication that they are ready to get started. While using a computerize tutorial, children would not just sit and watch; they will laugh, learn, participate and explore. Parents will see smiles and hear giggles. It is an indication that their children are having fun and when their...
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...Under Armour Case Study Source: Hogan, 2013 Table of contents Detailed Timeline 3 Business and Corporate Level Planning 4 Brief Summary of the Company Situation in their Competitive Environment, Issues they Face and Clear Problem Statement to Analyze 6 Key Leadership 8 Types of innovation and Evidence of Entrepreneurship 10 Global Presence and Effects 11 Ethics - Examples of Social Consciousness/Corporate Social Responsibility 12 Responsible Wealth Creation 14 Engagement and Plan Alignment & Corporate Culture 15 Wild Card 16 Internal Analysis 17 External Analysis 20 SWOT Analysis 24 Recommendation 27 Bibliography 33 Appendix 37 Team Member Roles 46 Detailed Timeline It all started in 1995 when Kevin Plank, the special teams captain on the University of Maryland football team, noticed that the cotton T-shirts he and his teammates wore underneath their pads were always soaked and filled with sweat (Under Armour, 2012). “There has to be something better,” he believed (Under Armour, 2012). That statement soon launched the performance apparel industry (Under Armour, 2012). That statement also became Under Armour’s generic strategy, which was to develop a better product than there was in the market. While Plank was perfecting his t-shirt after he graduated, he needed funds to launch his apparel line, so he maxed out his credit cards to the tune of $40,000 and set up a company in his grandmother’s basement in Washington, DC (Under Armour, 2012). In...
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...html Title: The Ras Tafari Movement in Kingston, Jamaica Author(s): M.G. Smith (With R. Augier and R. M. Nettleford). Published by: Institute of Social and Economic Research, University College of the West Indies, 1960. 54p. Reprinted in: Reprinted in 1968, and in Caribbean Quarterly, vol. 13, no. 3, (September 1967), pp. 3-29; and vol. 13, no. 4 (December 1967), pp. 3-14. UNIVERSITY COLLEGE OF THE WEST INDIES THE RAS TAFARI MOVEMENT IN KINGSTON, JAMAICA. By M. G. Smith Roy Au/;ier Rex Nettleford INSTITUTE OF SOCIAL AND ECONOMIC RESEARCH 1960 CONTENTS Foreword Chapter I II III Introduction History of the Movement Recent Developments 7 8 15 IV The Doctrines of the Movement V The Movement's Current Organisation VI VII What Ras Tafari Brethren Want Summary of Recommendations 22 28 33 38 Appendices I II Letter: Land Grant Letters: Ethiopian Orthodox Church 39 41 43 III Niyabingi Men IV The Creed of a Ras Tafari Man 48 20th July, 1960. My dear Premier, At the request of some prominent members of the Ras Tafari brethren, three members of the U.C.W.I. staff, Roy Augier, Rex Nettleford, and M. G. Smith, spent every day of two weeks with Ras Tafari brethren, making a survey of the movement, its organisation and its aspirations. They have produced a report, which I enclose herewith. The team has made a number of recommendations, which require urgent consideration. The movement is large, and in a state of great unrest. Its problems...
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...An Analysis of the Impact of the Jock Tax on a Regional Basis Prepared for Professor McWhite Economics 5900 Spring 2016 Prepared by Zachary Zahedi Zahedi16@uga.edu 22 April 2016 Abstract: The study focuses on the marginal tax rate that professional football players face in the United States. This tax rate, which is assessed based on the proportion of days spent in the state of work throughout the NFL season, is called the jock tax. NFL players are not the only professional athletes in the United States that face this tax, however, the structure of their pay and the salary cap figures make the analysis the most manageable. After examining specific player data, my study determined that were significant discrepancies between a player’s effective tax rate within their conference and division and the average salary differences. The argument that critics have against the jock tax claim that players may be severely detrimental to the after tax earnings of all NFL players. Section I: Introduction According to a recent study in early 2016, the state of California collected just over $229 million from nonresident athletes due to the imposition of the ‘jock tax’ in 2013 (Artz, 2016). California is among 19 states that impose the jock tax on athletes that are visiting said states for performing in professional sporting events. The jock tax represents an auxiliary income tax imposed on nonresidents by the state in which the players are traveling. For example, a player...
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...Jennifer A. Livingston © 1997 by Jennifer A. Livingston "Metacognition" is one of the latest buzz words in educational psychology, but what exactly is metacognition? The length and abstract nature of the word makes it sound intimidating, yet its not as daunting a concept as it might seem. We engage in metacognitive activities everyday. Metacognition enables us to be successful learners, and has been associated with intelligence (e.g., Borkowski, Carr, & Pressley, 1987; Sternberg, 1984, 1986a, 1986b). Metacognition refers to higher order thinking which involves active control over the cognitive processes engaged in learning. Activities such as planning how to approach a given learning task, monitoring comprehension, and evaluating progress toward the completion of a task are metacognitive in nature. Because metacognition plays a critical role in successful learning, it is important to study metacognitive activity and development to determine how students can be taught to better apply their cognitive resources through metacognitive control. "Metacognition" is often simply defined as "thinking about thinking." In actuality, defining metacognition is not that simple. Although the term has been part of the vocabulary of educational psychologists for the last couple of decades, and the concept for as long as humans have been able to reflect on their cognitive experiences, there is much debate over exactly what metacognition is. One reason for this confusion is the...
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...scholarship. For more information about JSTOR, please contact support@jstor.org. . Hong Kong University Press is collaborating with JSTOR to digitize, preserve and extend access to The Sources of Hong Kong Law. http://www.jstor.org This content downloaded from 143.89.105.150 on Sat, 6 Dec 2014 22:30:49 PM All use subject to JSTOR Terms and Conditions The Theory of Stare Decisis GENERAL THEORY Introduction The essential idea behind stare decisis is that a judge is required - thus has no discretion to refuse - to follow certain previous decisions. This obligation arises when a prior case A yields a proposition of law in circumstances which are indistinguishable from those confronting the judge in case B, and by a formal rule the judge in case B stands in an inferior relationship to the court which decided case A. Stare decisis requires three conditions: (1) an earlier case, and thus an element of 'priorness' or 'pastness', (2) factual similarity, and (3) a particular relationship between the decision-making authorities. We should also note that the doctrine looks both backwards and forwards: not only is a judge bound by decisions taken earlier, but his own decision is potentially binding on judges...
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...For the exclusive use of V. Chugh, 2016. 9-804-118 REV: JULY 5, 2007 TERESA M. AMABILE ELIZABETH A. SCHATZEL The Lumen and Absorb Teams at Crutchfield Chemical Engineering Realizing that his next appointment would be starting momentarily, Paul Burke hurriedly attempted to tidy up his somewhat chaotic desk. The meeting was going to include discussion of some troubling data he had recently received, and he wanted space for spreading out and making notations on the charts. It was April 2003, and Burke was in his sixth year as director of the Polymers Department in the Corporate Technology Development (CTD) division of Crutchfield Chemical Engineering (CCE), a large, international chemicals and fibers manufacturer. CCE was in the last stages of a companywide downsizing that had resulted in an 18% reduction in force over the past six months. At 52, Burke had seen a number of prior downsizings and other organizational upheavals in his years at CCE and other firms in the industry. He was well aware that, following such changes, employee morale and performance often suffered initially but soon rebounded. However, a recent Human Resources (HR) survey and his own observations had led him to become particularly concerned about drastic differences among his five research and development (R&D) teams in both motivation levels and performance. Wishing to reverse what seemed to be a dangerous trend, he had engaged organizational psychologist Joanna McKinty, an external...
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...Affairs Specialist, USDA Foreign Agricultural Service, Washington, DC 20250, USA. 4 Professor Emeritus, Texas Agric. Exp. Stn., Texas A&M Univ., Stephenville, TX 76401, USA. 7 BONPLANDIA 16 (Supl.), 2007 Table of Contents Abstract ......................................................................................................................... Resumen ........................................................................................................................ Introduction .................................................................................................................... History of the Collections ................................................................................................. Summary of Germplasm Explorations ................................................................................ The Fruit of Arachis and its Capabilities ............................................................................ “Socias” or Twin Species ................................................................................................ Intraspecific Variability .................................................................................................... Reproductive Strategies and Speciation ............................................................................. Dispersion...
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...Oral Oncology 50 (2014) 577–586 Contents lists available at ScienceDirect Oral Oncology journal homepage: www.elsevier.com/locate/oraloncology Review ACR Appropriateness CriteriaÒ thyroid carcinoma Joseph K. Salama a,⇑, Daniel W. Golden b, Sue S. Yom c, Madhur Kumar Garg d, Joshua Lawson e, Mark W. McDonald f, Harry Quon g, John A. Ridge h, Nabil Saba i, Richard V. Smith j, Francis Worden k, Anamaria Reyna Yeung l, Jonathan J. Beitler m a Duke University, Durham, NC, United States University of Chicago Hospital, Chicago, IL, United States University of California San Francisco, San Francisco, CA, United States d Montefiore Medical Center, Bronx, NY, United States e Lexington Medical Center, West Columbia, SC, United States f Indiana University School of Medicine, Indianapolis, IN, United States g Johns Hopkins University, Baltimore, MD, United States h American College of Surgeons, Fox Chase Cancer Center, Philadelphia, PA, United States i American Society of Clinical Oncology, Emory University, Atlanta, GA, United States j American College of Surgeons, Montefiore Medical Center, Bronx, NY, United States k American Society of Clinical Oncology, University of Michigan, Ann Arbor, Michigan, United States l University of Florida, Gainesville, FL, United States m Emory University School of Medicine, Atlanta, GA, United States b c a r t i c l e i n f o s u m m a r y The ACR Head and Neck Cancer Appropriateness Criteria Committee reviewed relevant medical...
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...BABY AND THE BATHWATER: THE PERILS OF HOLDING JUVENILES IN CONTEMPT RICHARD SEITZ UNIVERSITY OF BALTIMORE SCHOOL OF LAW FALL 2008 You can learn many things from children. How much patience you have, for instance. - Franklin P. Jones THE CASE OF A.S. In December of 2007, A.S., a 17 year old female, was subpoenaed to testify as a state’s witness in a case against a man accused of assaulting another woman. When she failed to respond to the subpoena and did not appear at trial[1], St. Mary’s Circuit Court Judge C. Clarke Raley issued an order for her arrest. She was picked up by patrol officers on New Year’s Eve, and appeared before a different judge, who subsequently released her on her own recognizance. On January 9, 2008, Judge Raley issued another order, this time finding her in direct criminal contempt for her previous failure to appear as a witness, and summarily sentenced her to 30 days in the St. Mary’s County Detention Facility, the county’s general population prison for adult criminal offenders. A.S. was jailed in the detention center among the adult population; public defenders appealed to the judge on her behalf, claiming that her imprisonment was in violation of the Juvenile Justice and Delinquency Prevention Act[2]. Judge Raley was not compelled by the argument, stating that she A.S. “was not best served by guidance, treatment or rehabilitation [in a juvenile facility], but by a brief exposure to the St. Mary’s County Detention...
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