...CITATION Schippers Excavating Inc. and Nederveld Inc. v. Crystal Creek Enterprises, Fifth Third Bank, and Integrity Tree Services of Michigan Inc. Court of Apppeals of Michigan, Mich. App. LEXIS p. 3-6 1136, 2011 FACTS Crystal Creek Enterprises was developing a subdivision in Great Rapids. Fifth Third Bank funded 3 million dollars towards the project. However there were unforeseen expenditures that exceeded the loan amount. Crystal Creek hired Nederveld Inc. to revise the project costs since their original engineer underestimated the total cost of the project. Schippers Excavating Inc. stated that they would stop the project unless Fifth Third Bank provided more funding. Fifth Third Bank acknowledged the extra costs and agreed to provide the necessary funding for updated costs through a fax. The fax contained the following: “On November 2, 2007, Bissett faxed the following letter to Schippers: In reference to the development known as The Landings at Crystal Creek, Fifth Third Bank ("Lender") and Crystal Creek Enterprises, L.L.C. ("Borrower") have a contractual agreement in which Fifth Third provides development financing for the project. Due to recent unforeseen events involving the prior project engineer, the projected development costs have been altered. The Bank recognizes the cost budget for land development at The Landings at Crystal Creek has increased and will provide the necessary financing for the updated costs provided via fax from Schippers Excavating...
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...super-regional bank that offers loan and deposit products to customers in the Midwest. Along with consumer finance products they serve the commercial lending arena with agricultural loans, construction loans and small business banking. KeyCorp has nearly 1000 retail-banking branches in 14 states. They are headquartered in Cleveland, Ohio. Competition Fifth Third Bancorp (NASDAQ: FITB) is its main competitor and is also located in Ohio (Cincinnati). US Bancorp (NYSE: USB) is another Midwest banking competitor. Its headquarters are in Minneapolis, MN. Both Fifth Third and US Bancorp provide deposit and loan products as consumer and commercial banking services in a similar geography to KeyCorp. Strength of the Company The growth strategy for KeyCorp relies on focusing on its core competencies and building customer loyalty through relationship banking. KeyCorp has positioned itself to focus on customers by aligning their resources to fewer banking products. Level of Risk Summary KeyCorp faces much competition and a challenging economic climate. Loan losses continue to be a drag on earnings for many banks and KeyCorp is no exception. In a world where bank failures are commonplace, customers are concerned about the viability of the institutions that they trust with their money. Compared with many of its competitors, KeyCorp is a mid-sized bank. Mid-size banks carry less stature and are at risk of losing quality customers to the larger banks that are perceived...
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...are offered at three banks: Old National Bank, Fifth Third Bank and Chase. Old National Bank I chose Old National Bank firs because this is a bank that I am very familiar with. We have our auto loan through Old National and my previous auto loan was through them as well. They have excellent customer service and are always willing to help their clients out any way that they can. Old National Bank has one hundred and seventy locations in four states: Indiana, Illinois, Kentucky and Ohio with their headquarters located in Evansville, Indiana. Old National has a great online banking system. The site is very easy to navigate with many tutorials and demos provided. Under the business tab I am able to find out information regarding receivables, payables, information and money management along with fraud protection. Under each of these titles I am able to find out what services this bank provides while in the comfort of my own home. Receivables management states that they can help accelerate and improve my cash position. (Old National, 2011) Services offered include: express deposit, retail lockbox, wholesale lockbox, consumer direct debit, cash concentration, represented check service and merchant processing. These services are great because driving to the bank for depositing or collecting would be almost eliminated, they issue the software needed for electronic deposits, debt reduction and idle cash investing are some of the great perks provided by this bank. They also offer credit...
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...jury. In his appearance, he produced some of the records that were required and testified that there existed no other records that he was aware of. When he was questioned about the existence and the location of any additional records, doe invoked the Fifth Amendment privileges that protect an individual against self-incrimination (Justia ). Procedural history: following the refusal by the three named banks to submit to the request of the federal...
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...coins on hand, bank balances, and negotiable money orders and checks. Marketable securities Ownership and debt instruments of the government and other companies that can be readily converted into cash Account Receivables Claims arising from the selling of merchandise or services on account to customers are referred to as trade receivables Inventories The balance of goods on hand Prepaid An expenditure made in advance of the use of the service or goods Current liabilities Obligation whose liquidation is reasonably expected to acquires the use of existing resources properly classifiable as current assets or the creation of other current liabilities Current Liabilities Account Payable Accrued Liability Income Tax Account Payable An accounting entry that represents an entity’s obligation to pay off a short term debt to its creditor. The accounts payable entry is found on balance sheet under the heading current liabilities Accrued liability An accounting term for an expense that a business has incurred but has not yet paid Income Tax A tax that government imposed on financial income generated by all entities with in their jurisdiction Short Term Ratio Working Capital Current Ratio Acid Test Ratio Cash Ratio Working Capital The excess of current assets over current liabilities Working Capital = Current Assets − Current Liabilities Question Click to edit Master text styles Second level Third level Fourth...
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...Point: UK Banking Industry UK’s banking sector, following the US and Japan, is the world’s third largest and considered foremost in terms of: efficiency, dynamism and return on capital. It services 95% of the population with about 3.5% of UK’s total workforce - over a million workers. The decade ending 2005 witnessed a surge of three folds in assets to €5526 billion, lending and deposits more than two fold to €3284 billion and €4984 respectively. The financial sector’s productivity is growing at three times the pace of the economy and reflects an increasing share of the GDP. Last year, banks and financial services contributed £70 billion to the country’s national output, equivalent to nearly 7 percent of the country’s GDP – 100 % percent increase from 2003. UK leads as a major international center for investment and private banking, cross border banking and accounts for a fifth of global international lending; with banks in London handling a third of the global foreign exchange business. Deregulation, Competition and Consolidation UK’s banking industry has seen a radical transformation with market liberalization by deregulation and the resultant competition. The Building Societies Act of 1986 permitted building societies to widen their financial services to include insurance and allowed building societies to convert into banks. Life insurance firms moved into banking and banks diversified into mortgages and insurance. Mergers and acquisitions has been the other transformational...
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...Research Paper Review (RM) Submitted by Group 2: Satya Geeta Mounica Kakarla (1527257) Karnica P (1527248) Sandesh U (1527226) Harsh Dhiman (1527213) Arkajit Medya (1527205) The effect of marketing mix in attracting customers: Case study of Saderat Bank in Kermanshah Province Authors: Bahman Saeidi Pour, Kamran Nazari and Mostafa Emami Vol. 7(34), pp. 3272-3280, 14 September, 2013 DOI: 10.5897/AJBM12.127 ISSN 1993-8233 © 2013 Academic Journals http://www.academicjournals.org/AJBM | African Journal of Business Management | Accepted 24 November, 2012 Introduction & Structure of the paper: Progress and transformation in industries, institutions and companies has to do with their ability to deal with problems, activities, as well as competitors. Each institution should adopt policies with respect to long-term vision, mission, goals, opportunities, arrangements and using internal facilities of an external to develop comprehensive marketing, because in today's global business environment there is increasing complexity, rapid change and unexpected developments. Banks and financial markets have become competitive in recent years with the development of science. The task of marketing manager is to analyze, plan, implement and control the marketing program effectively by studying the market and applying marketing mix variables also which is also called marketing management. Today advertisement is also a part of marketing management. Marketing management...
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...Bank of America Corporation is an American multinational banking and financial services corporation headquartered in Charlotte, North Carolina. It is the second largest bank holding company in the United States by assets. As of 2010, Bank of America is the fifth-largest company in the United States by total revenue, and the third-largest non-oil company in the U.S. (after Walmart and General Electric). In 2010, Forbes listed Bank of America as the third biggest company in the world. Despite its success Bank of America is facing some issues with entering the Chinese credit card market. Some problems Bank of America is facing is, the strong sense of values to cultural beliefs among the Chinese customers, some card issuers show little loyalty to their primary cards, and are unprofitable to the market. There are various steps Bank of America should take in order to remain a segment leader. The first step Bank of America should take is to gain the support of the government by getting the Chinese people to understand the benefits of having credit a card. They should do surveys showing why Chinese customers not interested in credit card usage. They should also become very well acquainted with other banks that have already entered China to see how they became successful. The second process is to develop an infrastructure to have more atm’s and banks so they are easily accessible for the Chinese customers. Have more atm’s in place where Chinese customers can access them for example...
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...Orrstown Bank vs. DNB Financial Corporation Orrstown Bank Financial Statement Analysis In this assignment, we focus on Orrstown Financial Services vs. DNB Financial Corporations. Both institutions have similar financials and sizes of entities. The first part of the assignment is about, studying both institutions and compare them to each other. After that there will be an analysis and general study about the health of ORRF as an overall entity. All data are taken from UBPR reports, 10 k reports, Bloomberg, Yahoo, and Banks main website Common Size Net Income Statement This section of the analysis is about computing common size income statement for both ORRF and DNBFC. It seems that ORRF net income have decreased in value and resulted in huge loss in 2012 as (-63%) of net revenue. This dramatic change of the net income value started in 2011 due to the real estate low prices that have been an issue since the financial crisis started. This conclusion is supported by looking at the provision of loan losses that increased in 2011, showing the cause of the huge net loss. On the other side, DNBFC provision for loan losses have increased reasonably in 2008 to become (10%). In addition, the net income increased steadily after 2008 too. It appears, so far, from the Net Income Statement that DNBFC is doing much better than ORRF. Common Size Balance Sheet Statement Based on the common size balance sheet statement of ORRF, we can see that the total loans used to be very high before...
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...McCulloch v. Maryland (1819) (1) Constitutional Question: Was the Maryland law unconstitutional towards the Bank of the United States, under Article I, Section 8, of the constitution, to tax the Bank? (2) Background information: The Bank of the United States was not chartered within the Maryland state which caused Maryland to impose a burdensome tax on the Bank. The Bank’s Baltimore branch would not pay the tax, and Maryland sued James McCulloch. James McCulloch soon appealed to the U.S. Supreme Court. The U.S. Supreme court examined the case in 1819. Once they examined the case the court ruled that the Maryland tax was unconstitutional, while the Bank of the United States was constitutional. There was questioning in Article I, Section 8, which was if the congress had the power, and it was proper and...
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...By: Dinaa Orkoubi Rzan Albakr Sarah Asali Vivian Yadi Wang Orrstown Financial Services 2 In this assignment, we focus on Orrstown Financial Services vs. DNB Financial Corporations. Both institutions have similar financials and sizes of entities. The first part of the assignment is about, studying both institutions and compare them to each other. After that there will be an analysis and general study about the health of ORRF as an overall entity. All data are taken from UBPR reports, 10 k reports, Bloomberg, Yahoo, and Banks main website. Common Size Net Income Statement This section of the analysis is about computing common size income statement for both ORRF and DNBFC. It seems that ORRF net income have decreased in value and resulted in huge loss in 2012 as (63%) of net revenue. This dramatic change of the net income value started in 2011 due to the real estate low prices that have been an issue since the financial crisis started. This conclusion is supported by looking at the provision of loan losses that increased in 2011, showing the cause of the huge net loss. On the other side, DNBFC provision for loan losses have increased reasonably in 2008 to become (10%). In addition, the net income increased steadily after 2008 too. It appears, so far, from the Net Income Statement that DNBFC is doing much better than ORRF. Common Size Balance Sheet Statement Based on the common size balance sheet statement...
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...have continued to growl over their high-altitude frontier since. Indians envy China's economic rise, but console themselves by pointing out that it is no democracy. Aside from stiff displays of fraternity at summits, most recently the G20 bash in Mexico on June 18th-19th, China seems not to think much about India at all. Investment flows are negligible. There are still no direct flights between Beijing or Shanghai and Mumbai, India's commercial hub. And yet a huge shift has taken place in the make-up of Indian trade. When India began to liberalise its economy in 1991, the West still dominated the world economy, and it was to the West that India turned for trade. China's rise has now changed everything—for India, too. China is now its third-largest trading partner in goods, and the biggest if you include Hong Kong. For China's East Asian neighbours a dominant trade with China is a given, but Indians are still trying to digest the development. Rising trade with China has been good for India. It mainly imports Chinese capital goods, with firms benefiting from cheap and decent gear. The giant Reliance Group has bought kit for power stations and telecoms networks—partly paid for with competitive Chinese loans. Chinese firms have often strived to win such business. Pan Song of Shanghai Electric, which makes power equipment for Reliance, among...
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...Assignment 3: Motivation, Stress, and Communication Christopher Whitley Dr. Paul Rossman Leadership and Organizational Behavior February 12, 2012 1. Create a brief job description for a position within the company you research that you would like to fill. The company that I’d like to work for is Fifth Third bank. I have previously been a Manager for three other banks. I have taken some time off from my career to gain higher education so that I can work in the financial industry in an increased role. Being a manager is very rewarding; however, I feel that I have the skills to be a District manager. I researched the position with Fifth Third bank and here is a description of what my role would be: General Functions: Responsible and accountable for own financial center as well as directing a small group of 3 to 5 Financial Center Managers to achieve profit, growth, and customer service objectives within a prescribed district. (2012) Responsibilities: 1) Review and evaluate sales activities, appropriate staffing and levels, loans, deposits, overdrafts, charge-offs, etc., to meet district profit and performance objectives. 2) Promote sales culture and ensure that the staff receives proper training to demonstrate abilities to sell and cross- sell to reach individual and team sales goals. 3) Conduct Financial Center Manager meetings and maintain a high level of communication within the district. 4) Provide sales coaching to Financial Center Managers within the district...
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...Old Age Allowance Programme of Bangladesh: Challenges and Lessons Sharifa Begum Senior Research Fellow Bangladesh Institute of Development Studies (BIDS) Background of the Old Age Allowance • As in other countries, Bangladesh too started experiencing population ageing; • According to UN Population Projection, share of older people by 2050 will reach around 20% and absolute number would become more than 40 million. • Government’s concern for older people until 1990’s was limited to public sector employees only who represent around 5% of the labour force and 1% of the older people. Background (contd.) • Following increase of older people and more than that following recent global concerns for these people, the Govt. of Bangladesh in recent years became sensitive about older people and felt to do something beyond moral preaching. • Consequently, the government introduced a Monthly Allowance Programme for older people in April 1998. In case of Bangladesh, the credit for the programme almost entirely goes to the Govt. Main Features of the Programme • • • • • • Means-tested programme Provides monthly allowance to poor elderly Benefit has no condition attached to it Financed from the country’s national budget Has countrywide coverage Accomplished substantial expansion since introduction; – beneficiaries increased from 0.4 to 2.75 million – Monthly allowance increased from BDT 100 to BDT 300; Main Features (contd.) • • • ...
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...Criminal Law Evaluation In order to understand criminal law one must evaluate the different aspects that exist in criminal law itself. Understanding the purpose, sources, the jurisdictions, and the type of system the United States uses for due process allow for better insight. A brief look at criminal law through liability and anticipated crimes one are able to get a look at police power to protect citizens, remove and rehabilitate criminals. Purpose and sources of criminal law According to Max Weber, “the primary purpose of law is to regulate the flow of human interaction” (Schmalleger, 2010). Criminal law is put into place to allow for a civilized community with the feel of safety by removing criminals and attempting rehabilitation. A more specific list of the purposes of criminal law is to “protect members of the public from harm, preserve and maintain social order, support fundamental social values, distinguish criminal wrongs from civil wrongs, express communal condemnation of criminal behavior, deter people from criminal activity, stipulate the degree of seriousness of criminal conduct, establish criteria for the clear determination of guilt or innocence at trial, punish those who commit crimes, rehabilitate offenders, and assuage victims of crime” (Schmalleger, 2010). Three sources of criminal law are the Constitution, case law, and statutory law. The Constitution is the highest form of law in the United States. The Constitution does not state specific criminal laws...
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