deeply committed and dedicated to the people who use our products, our employees, the communities in which we live and work, and you, our shareholders. Most important, we will never lose sight of who we are. ON tHE COVER Matt Cox, who has type 1 diabetes and uses the waterproof ANIMAS® VIBE™ insulin pump, swam an English Channel relay to raise money for the Juvenile Diabetes Research Foundation. Matt wants to show his son, Jack, who also has type 1 diabetes, that the condition need not hold him
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Economics 1.1 Introduction Managerial decisions are an important cog in the working wheel of an organisation. The success or failure of a business is contingent upon the decisions taken by managers. Increasing complexity in the business world has spewed forth greater challenges for managers. Today, no business decision is bereft of influences from areas other than the economy. Decisions pertinent to production and
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2010 Recommendation: HOLD Pros: • • • • • Ticker Exchange Industry Sector Classification Market Cap. 52 Week Price range Recent Price Current P/E Projected 2012 P/E 2009 EPS Projected 2012 EPS Dividend Yield Debt Rating Beta PG NYSE Household Products Consumer Staples Income & Capital Appreciation $175 B $39.37 - $64.58 $59.38 (7/2/2010) 15.9 15.2 $3.58 $4.26 3.2% AA0.60 • • • • Disciplined cash and cost management Investing in capacity, innovation, and consumer value this year 23 $1 billion
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2010 Recommendation: HOLD Pros: • • • • • Ticker Exchange Industry Sector Classification Market Cap. 52 Week Price range Recent Price Current P/E Projected 2012 P/E 2009 EPS Projected 2012 EPS Dividend Yield Debt Rating Beta PG NYSE Household Products Consumer Staples Income & Capital Appreciation $175 B $39.37 - $64.58 $59.38 (7/2/2010) 15.9 15.2 $3.58 $4.26 3.2% AA0.60 • • • • Disciplined cash and cost management Investing in capacity, innovation, and consumer value this year 23 $1 billion
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SECOND EDITION I/1ANAGEMEIVT AND POLICY James C.Van Horne \ STANFORD UNIVERSITY PRENTICE-HALL INC., ENGLEWOOD CLIFFS, NEW JERSEY F I NANCI AL M A N A G E M E N T A N D POLICY, 2nd EDITION James C. Van Horne © 1971, 1968 by PRENTICE-HALL, INC., ENGLEW O O D CLIFFS, N.J. All rights reserved. No part of this book m ay be reproduced in any form or by any m eans without permission in writing from the publishers. Library of Congress C atalo g C ard No.: 71-140760
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value as that of the firm at time 2, assuming P.V. Ltd. paid no dividends (see Question 1). Consequently, the firm’s dividend policy does not matter to the shareholders under ideal conditions. It may be worth noting that a crucial requirement here, following from ideal conditions, is that the investors and the firm both earn interest on financial assets at the same rate. 3. Year 1 At time 0, you know that if the bad economy state is realized, ex post net income for year 1 will be a loss of $23.97. If
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Corporation, Robert O’Connor, points out, this is a serious claim. It is imperative that Nick does his research before making such a claim. The underlying issue in this case is if O’Brian Software is creating ‘cookie jar’ reserves by understating profits in periods of prosperity and then creating false reserves in times the company needs a boost. The smoothing of revenue recognition can mislead investors by providing them a false impression of the company’s financial standing while the purpose of
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INTEGRATED ANALYSIS HOW INVESTORS ARE ADDRESSING ENVIRONMENTAL, SOCIAL AND GOVERNANCE FACTORS IN FUNDAMENTAL EQUITY VALUATION FEBRUARY 2013 Co-funded by the PREPARATION OF THIS DOCUMENT In September 2011 the PRI Initiative convened a working group of signatories to investigate how equity investors and analysts are integrating environmental, social and governance (ESG) analysis into their fair value calculations. The members of the ESG Integration Working Group are: Neil Brown
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forgone benefits from the next best alternatives use of a given resources in simple words scarifies or loss of alternative use of a given resource is turn as an opportunity cost. The alternative or opportunity cost of one unit of product A is the amount of product B that has been sacrificed by allocating the resources to produce A rather than B. Question 4. :-Low of Demand? Answer:-According to Ceteris Paribus, “The higher the price of the commodity the smaller is the quantity demanded and lover
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Recommendation Development Carbon Monetization 39 Sustainable Supply Chain Strategy 32 35 36 42 Supporting Statements Support for Recommendations 45 Supporting Statements and Analysis Framework 48 #1: Reduce GM’s exposure to the financial risks associated with carbon regulations 49 #2: Mitigate operational risk in resource-constrained and/or highly polluted geographies such as China #3: Reduce exposure to electricity cost increases and generate revenue from renewable energy credits #4: Mitigate financial
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