Premium Essay

Winfield Refuge

In:

Submitted By sansrivastava
Words 1252
Pages 6
Q1 what are the annual cash outlays associated with the bond issue? The common stock issue? Bond Issue

Q2 Analyze and respond to each director’s assessment of the financing decision.
Leo Staumpe believes that MPIS is an excellent buy that will offer tremendous revenue synergy and cost reduction opportunities. Board of directors also agrees with the assessment; the only decision is on the mode to secure funding for the acquisition. Two options available to secure a funding of125 million are for the funds are:
1. Issue bonds for 125 million at 6.25% interest rate and 15 year maturity. Annual principal repayment will be 6.25 million, leaving 37.5 million outstanding at maturity.
2. Issue 7.5 million additional common stocks at the price of $17.75/share.
During the board meeting, there was no consensus on the mode to secure the funding. While Andrea Winfield and Joseph Winfield thoughts that issuing stock is a better option; Ted Kale, Joseph Tendi, and Naomi Ghonche did not prefer the approach of issuing stock. James Gitanga, the newest addition to the board was apparently in favor of raising long term debt through bonds.
Here is each director’s assessment of financial decision and our response to that:
Andrea Winfield
Andrea thinks that stock issuing has a lower cost. Issuing a bond will result in additional cash outlay of 6.25 million per year as principal repayment. Andrea is reacting to the long term lease of 15.8 million (exhibit 3) and feels that additional cash outlay will result in risk increase leading to the wild swing in stock price.
However, this concern looks misplaced as the overall industry is stable and generate steady cash flow. Business demand is predictable and recession proof. In additional, currently Winfield does not have any Long Term liability whereas all other major players do have Longer term debt (exhibit 1) so adding some

Similar Documents

Free Essay

Recovery in Refuge

...Vision Statement 6 Goals 7 Lessons Gleaned from Scripture 8 Formulation of Objectives 12 Competencies Expected of Disciples attending Recovery in Refuge 12 Selection of Content 13 Setting Captives Free 13 Life Principles for Worship from the Tabernacle 14 Celebration of Discipline 14 Shatter the Darkness 14 Scope and Sequence Plan 15 Phase 1: Repentance, Redemption, Recovery 15 Phase 2: Regeneration 16 Phase 3: Rescue-Reaching Out 18 Phase 4: Real Life 20 Partnership with the Refuge Counseling Center 20 Conclusion 21 Self-Assessment of How the 5 Essential Activities of an Education that Produces Disciples Was Incorporated and Integrated 22 Resources to be used in Recovery in Refuge 25 Bibliography 26 Works Consulted 27 Introduction At Crossroads Community Church in Nampa Idaho the catchphrase is ‘Refuge.” The church has developed what it calls a “Theology of Refuge.”[1] They state, “Crossroads is built around the idea of being a church of God ’s unconditional love, where lives are transformed and reconditioned for partnership with God in accomplishing His will in the world.”[2] This is accomplished using the biblical model of refuge found in the story of David hiding from King Saul in 1 Samuel 22:1,2. While David was hiding in the Cave of Adullum it is written that four hundred men...

Words: 6080 - Pages: 25

Free Essay

33 Miners Trapped

...below ground level. Other miners feared that the thirty-three miners still inside the mine were in the disaster zone when the collapse happened. The workers that were trapped had to have been scared not knowing if they were ever going to be able to see loved ones again. For 16 days, the workers had no communication from the outside world, and no way for the outside world to communicate back to them. Fear, itself is scary, but fear and being trapped had to be scarier. The miners had no clue as to what was being done to get them out safely, nor did they know if anyone was even working on getting them out. On the 17th day of being trapped down in the mine, the rescue workers had drilled a small bore hole that had reached the miners’ refuge. From the refuge, the workers sent up a message telling rescuers and everyone around...

Words: 1140 - Pages: 5

Free Essay

George B. Mcclellan

...McClellan’s Influence and Role During the Civil War Chad Hoskins 4446301 MILH 542 Professor Steven Sledge American Public University March 15, 2015 1 Many men during the Civil War made huge contributions that effected their respective sides cause. Some for the worse and some for the better. Battles can be broke down, strategic moves dissected, and even personnel moves debated. But individual men are examined on how they influenced armies, battles, and even their leaders. With that mentioned, George B. McClellan, a great military mind and strategist, perhaps is looked as one of the great leaders during the Civil War who could have made better decisions, change certain outcomes, and maybe even retained the confidence of President Lincoln. George B. McClellan came from a very prominent family who lived in Philadelphia, Pennsylvania. (1) George was born December 3, 1826 to Dr. George McClellan who had founded Jefferson Medical College. George’s mother was Elizabeth Sophia Steinmetz Brinton McClellan who came from a leading family in the Philadelphia area. George was the third of five children and had a passion for law. At the young age of 13 he attended the University of Pennsylvania. After just two years of studying law, McClellan changed his focus to military service. Now young George B. McClellan was only 15 at the time when he entered the United States Military Academy in 1842. It took a letter from his father to President John Tyler...

Words: 2695 - Pages: 11

Premium Essay

Grant vs Mcclellan Comare and Contrast

...was constantly an issue. Within the Union, various generals were found at times to be at odds with the political leaders in Washington. This was especially evident in the relationship between General George McClellan and President Lincoln. This tension was the result of McClellan’s approach to waging war. By examining the differing approaches to waging war of U.S. Grant and George B. McClellan one can gain a better appreciation for the decision making that was necessary by leaders like Lincoln, in selecting military generals who could effectively wage war to defeat the Confederacy. By all accounts, George B. McClellan had the makings of a great general. Graduating second in his class at West Point in 1842, he served under General Winfield Scott in the Mexican War. (McPherson, 1988, p. 4) He also served with distinction early in the war by assuring that Kentucky and the region that would become West Virginia, remained out of Confederate control. (McPherson, 1988, pp. 299-301) After the Union loss at the First Battle of Bull Run, McClellan was named commander of the Army of the Potomac, and by November 1861, he was the General-in-Chief of all Federal forces. (McPherson, 1988, pp. 348-350) McClellan’s approach to waging war was one of the cautious tactician. He was quite adept at assembling forces and the supply lines necessary to sustain those forces. After being named the commander of the Army of the Potomac, McClellan set to work to prepare his troops, still stinging...

Words: 1437 - Pages: 6

Free Essay

Trail of Tears

...Sara Watson HIST 1301-325 Trail of Tears Major General Winfield Scott arrived May 8 to take command of the military operation of the removal of the Cherokee Indians. His May 10, 1838 address to the Cherokee people basically said that the president had sent him with an army to make them obey the Treaty of 1835 to move to the other side of the Mississippi. He says that they need to leave with haste but hopefully without disorder. Scott states that his troops are coming to help “assist” the Cherokees if they are refusing or not leaving fast enough. Scott really did want them to leave without having to shed any blood or have any resistance. Scott had told his troops to be kind to the Cherokees and compatible with their removal. His intentions were humane but the larger portion of his army was state levies unaccustomed to discipline and without his professional susceptibilities. Most of the Cherokee to be removed were inhabitants of Georgia and their apprehension was conducted by Georgia militia who had long as a matter of policy been habituated to dealing harshly with Indians. Cherokee were to be herded and confined while awaiting transportation west. There was little to no likelihood of attempted resistance. Within days nearly 17000 Cherokee had been crowded into the stockades. Sanitation measures were inadequate and many inmates sickened. Many lost any will to live and lost all glimmer of hope. In the first and second weeks of June 2 detachments of some 800 exiles...

Words: 653 - Pages: 3

Free Essay

Trail of Tears

...Native Americans ( Cherokee) Randall Cartright Eth/125 January/29/2012 Don Yost Abstract Native Americans ( Cherokee) They have faced migration, and annexation. Consequences: Extermination ( almost), expulsion, and segregation. Trail of Tears How? How could a horror have come from such an innocent act? A child sells a trader a rock. But greed unrestricted fears no God. And it has an appetite that can never be satiated. It has been my fate to have been involved in, and an observer of a nation turning it’s back on all of it’s most noble principles. How you recover from that will be left to posterity and the great Judge of all to address. For me it started when I was a young man back in the Smokey Mountain region of Tennessee. I was selected to go with the great Chief Junaluska to fight with the United States soldiers against the Creek. The Creek nation had aligned themselves with the invading British. Who could have believed that such bravery would be repaid someday with such treachery? It was Chief Junalusk’s idea alone to capture the Creek’s canoes at the battle of Horse Shoe and cut of their only means of retreat. It was Chief Junaluska’s quick action that saved Andrew Jackson’s life. I heard Andrew Jackson say to Chief Junaluska:” As long as the sun shines and the grass grows, there will be friendship between us, and the feet of the Cherokee shall be toward the east.” How quickly would those words become a mockery to the...

Words: 1243 - Pages: 5

Free Essay

Admissions Essay

...The expression “Give her an inch, and she will take a mile, ” does not even begin to describe me. I am more like “ Give me an inch, and I will take a whole country and conquer it.” I have overcome so many hardships in my life. I started off with a Christian faith based girl. Who loved everyone, and did not care what people thought. A girl whose family meant more to her than water. A girl that didn’t know the evils of the world until she was sent out into the crossfire to experience it first-hand. A girl who would have never thought in her desolate dreams that she would soon turn her back on everything she ever believed in. In my previous years, this war was just a game to me. It tested me, tempted me, teased me, and even at times ripped me apart. I never once realized how much destruction it could cause not only in the lives of my family, but as well as my own.  During my freshman year, I felt like a new recruit. I had no idea what I was getting myself into. I had no inkling about the people I would meet, or the enemies I would make. No indication that success meant having to study every night. No clue that my faith would be tested in every way possible. Not even the slightest notion that the people I love most would be the people I would soon be pushing away. I didn’t expect to be so tired and worn out. Waking up at ridiculous hours of the morning; the foolish acts the school cast upon us, like weekly and sometimes daily metal detector checks. Honestly, I did not know what to...

Words: 1108 - Pages: 5

Premium Essay

15th Amendmet

...Rookard The Fifteenth Amendment and President Ulysses S. Grant The fifteenth amendment of the united states was made to create equal opportunity for voters in America without being discriminated against. I believe one of the good things Grant is known for was creating the first park – Yellowstone National Park – bringing together federal lands in Wyoming, Idaho and Montana. I think the 15th amendment was a good idea because it overturned the preexisting statute prohibiting African-American citizens of the United States from suffrage so any previous station of servitude or slavery undertaken by any individual was immaterial with regard to the right to vote. The third reason I think that both the 15th amendment and Grant are good is because he successfully carried out his plan to integrate blacks, guarantee their rights, and support equality may be this: during Grant’s eight years in office, the South went from being half Republican to nearly entirely Democratic. The reason I support the 15th Amendment is because it was difficult to pass due to racism and prejudice in the south and Grant’s presidency, which he thought that having the votes of African Americans was more important for the future of the republican party, especially if it was able to be passed and he ran for a second election he’d win for sure, because he supported equal rights among voters although the abolishment of slavery started not long before its’ ratification. (The civil war and its aftermath: Civil Rights...

Words: 853 - Pages: 4

Free Essay

Federal Regulatory Agencies

...Federal Regulatory Agencies Teresa Bryant Barry University Public Law and Administration PUB 647 Dr. Stephen Sussman June 26, 2014 Federal Regulatory Agencies The United States Fish and Wildlife Service (FWS) is the principal Federal agency dedicated to fish and wildlife conservation. The Service’s history spans nearly 140 years, dating from the establishment of its predecessor agency, the Bureau of Fisheries, in 1871. First created as an independent agency, the Bureau of Fisheries was later placed in the Department of Commerce. A second predecessor agency, the Bureau of Biological Survey, was established in 1885 in the Department of Agriculture. In 1939, the two Bureaus and their functions were transferred to the Department of the Interior in 1940, They were consolidated into one agency and redesignated the Fish and Wildlife Service by Reorganization Plan III (Fish and Wildlife Service, n.d., p. 1). The Fish and Wildlife Service’s works to conserve, protect and enhance fish, wildlife and plants and their habitats. To contact the agency or department you can access the agency website at http://www.fws.gov or http://www.fws.gov/duspit/contactus.htm. The agency is located at Fish and Wildlife Service, 1849 C Street NW, Washington, DC 20240 and the telephone number is (202)-208-5634 (Public Affairs routes all call from here) or toll free at (800) 344-9453. The parent agency is the Department of the Interior (DOI) at http://www.usa.gov/directory/federal/department-of-the-interior...

Words: 1890 - Pages: 8

Free Essay

The Cat

...United States presidential election of 1880, held on November 2, Republican James A. Garfield (pictured left) defeated Democrat Winfield Scott Hancock (pictured right). Garfield was an Ohio Congressman; Hancock was a Pennsylvania-born career army officer. Both were Civil War generals, as was a third candidate, Iowa Congressman James B. Weaver, nominated by the left-wing Greenback Party in a challenge to the dominance of the two major parties. In a campaign fought mainly over issues of Civil War loyalties, tariffs, and Chinese immigration, Garfield and Hancock each took just over 48 percent of the popular vote. Weaver and two other candidates made up the remainder. The voter turnout percentage was among the highest in the nation's history. In the end, the two main candidates' popular vote totals were separated by fewer than 2,000 votes, the smallest US presidential popular vote margin ever recorded. Garfield's victory was decisive in the electoral college, as he won nearly all the populous Northern states for a 214 to 155 victory. (Full article...) Recently featured: Shah Rukh Khan · Barbara L · Cucurbita Archive · By email · More featured articles... Did you know... Portraits of Soolmans and Coppit Portraits of Soolmans and Coppit ... that in September 2015, the portraits of Maerten Soolmans and Oopjen Coppit (pictured) broke the record as the most expensive works by Rembrandt sold at auction? ... that Centris pallida male bees regularly...

Words: 689 - Pages: 3

Premium Essay

To Drill or Not to Drill

...To Drill or Not to Drill Aloma Chase HUM/111 03/10/2013 Jennifer Beaman To Drill or Not to Drill Alaska drilling in the ANWR refuge is a controversial debate because of the issues which are associated with destroying the wilderness. The ANWR is located in the “North Slope area of Alaska and eight million acres of this selected segment of the landscape is in the National Wilderness Preservation System, which is intended to protect pristine and untouched land areas” (Burley, 2010, p.1). Drilling for oil in the ANWR will destroy the environment; endanger the caribou herds, birds, and other wildlife. However, the opposing viewpoints contend that it would provide jobs, help with our oil supply, and not destroy the land. Examining other alternatives for energy shortages in the United States would prevent the destruction of the ANWR and other protected habitats. Renewable sources of energy like solar energy, and wind power would not affect the environment or cause pollution. The dependence on oil and other fossil fuels needs to be curtailed, so, the Alaska Refuge is not destroyed. Additionally, “each year oil operations on Alaska’s North Slope emit more than 70,000 tons of nitrogen oxides, which contribute to smog and acid rain” (National Resource Defense Council, 2010, p.1). Toxic oil spills kill the plants and vegetation, air pollution caused from drilling and emissions affects the air quality, and hazardous waste contaminates the water supplies. The drilling on...

Words: 806 - Pages: 4

Premium Essay

Caribou Research Paper

...The animal that I picked is caribou and I have a lot to tell you about caribou so let’s get started!! They prefer barren land during the summer months for habitat. They live in Alaska and Canada. Their environment has lots of characteristics like, mixed forests, and other animals, and trees all around them. They move to areas of mixed forests during these cold cold months. Their animal description is the caribou body is dark brown with lighter patches around the neck and rump. Some physical features of caribou are concave hooves, antlers, and nose. The hooves help caribou stay up in the snow. The antlers help them by growing forward to help them in the snow to dig in the snow to see if there is food under the snow. The nose helps them find where to dig in the snow for food. Males and females both have antlers and will shed their antlers at different times. Caribou migration route facts are, they migrate in the winter. between summer and winter ranges that are about 400 miles apart that's the TIME they migrate. They have a route which is they travel from Alaska to Brooks Range. Caribou migrate because of the certain weather conditions such as the first severe storm in the fall. Caribou have a life cycle which is……. 1st they have spring migration, then it's time for calving (birth if pregnant), then it's calving migration, summer is here!!, then last but not least its fall migration time!! The mother of the young does not take care of it the young runs off by itself. Male caribou...

Words: 446 - Pages: 2

Premium Essay

Educ Tour

...References 1. Aitken, D. (2000). Global Warming and Local Economic Perspective. Available at www.daylighting.org/pubs/global_climate.pdf 2. Avery, D. (n.d.). Three Big Hurricanes In A Row: Is It Global Warming? Available at: http://www.cgfi.org/materials/articles/2004/sept_17_04.htm 3. Bailey, R. (2002). Global Warming and Other Eco Myths: How the Environmental Movement Uses False Science to Scare Us to Death. Prima Lifestyles. 4. Briggs, H. (2005). Global 'Warming link' to big hurricanes. Available at:http://www.independentmedia.tv/item.cfm?fmedia_id=11963&fcategory_desc=Global%20Warming%20/%20 Climate%20Change 5. BENCHMARKING ENVIRONMENTAL PERFORMANCE AT AUTOMOBILE ASSEMBLY PLANTS. (2005). Available at http://www.managementfirst.com/quality/articles/automobile.php 6. Carter, A. (2005). Global Warming and Storm Chasing. Available at: http://www.firstscience.com/SITE/ARTICLES/carter.asp 7. Global Warming: A Perspective from Earth History. (N.d.) Available at: http://ebulletin.le.ac.uk/features/2000-2009/2004/12/nparticle-vkt-hgf-t4c 8. French, I. (2004). Carbon Sequestration - Bridging the Gap between Kyoto and a Viable Global Carbon Management Programme? Available at: http://www.energypulse.net/centers/article/article_print.cfm?a_id=633 9. Greens Call New Oil Drilling a Global Warming Risk, (2005). Urge Congressmembers to Do Everything Possible to Thwart ANWR and All New Drilling. http://www.commondreams.org/news2005/0322-16.htm 910...

Words: 260 - Pages: 2

Premium Essay

Should the Artic National Wildlife Refuge Be Opened to Oil Drilling

...Should the Arctic National Wildlife Refuge Be Opened to Oil Drilling? SCI207 Dependence of Man on the environment July 11, 2010 Abstract The rising cost of gas has been a great debate for consumers and congress. Currently the price of gas is between $2.71 to 3.39 depending on what state you live in. Consumers are finding it more and more disturbing that gas is increasing what is it going to take to make the prices decrease? Is oil drilling here in the United Stated the best thing to do? Oil Drilling has been a topic for our government for years. It seems that the debate is that oil should be drilled hear in our United States. Some have stated that oil drilling would be costly. But it would also reduce the amount we consumers spend on gas. If drilling was to take place there is an area in Alaska where the Arctic National Wildlife Refuge is. I hope to show the positive side of oil drilling in Alaska and the negative affects it will have on oil drilling. Currently, I understand both sides of drilling oil but it is not fair to kill off wildlife if oil drilling could be possibly found in areas where there aren’t any wildlife would be good or if the government could provide proof that if oil drilling was to take place that the wildlife would not be hurt. As we look at both sides of why to drill and why not we can explore just what seems to be the big problem we and what the decision should...

Words: 1872 - Pages: 8

Free Essay

Mrs Sophie Bates

...What is the ANWR? The Arctic National Wildlife Refuge is a national wildlife refuge in north-eastern Alaska, States. It consists of 19,286,722 acres. It is the largest National Wildlife Refuge in the country. It was established in 1960. What is a wild life refuge? A wild life refuge is a place which gives animals the space and freedom they need to feed themselves and raise their young. Because the land is protected they can do these things without clashing with people. Where is the ANWR and why is it being preserved? The Arctic National Wildlife Refuge is a national wildlife refuge in north-eastern Alaska, States. The reason why it is being preserved is because Robert Marshall in 1938 was able to understand how we would change the habitats of animals and destroys them to get the things we need like oil. So he proposed a ‘permeant American Frontier’ that would preserve a big chunk of Arctic Alaska wilderness. In the 1950’2, people who were worried about habitat loss and pollution proposed to Congress for that same frontier. In 1960, Congress created the refuge. When did they discover oil in Alaska and how much is estimated to be there? They discovered the oil i9n Alaska in 19870 at Prudhoe Bay it supplied two million barrels of oil a day. However as time has gone on the amount of oil that is in the Bay has decreased and is getting lower and lower each year, this has then lead to the U.S government having to find new oil supplies and one of these is in the ANWR....

Words: 653 - Pages: 3