...“The Latin Deli: An Ars Poetica”- Judith Ortiz Cofer Presiding over a formica counter, plastic Mother and Child magnetized to the top of an ancient register, the heady mix of smells from the open bins of dried codfish, the green plantains hanging in stalks like votive offerings, she is the Patroness of Exiles, a woman of no-age who was never pretty, who spends her days selling canned memories while listening to the Puerto Ricans complain that it would be cheaper to fly to San Juan than to buy a pound of Bustelo coffee here, and to Cubans perfecting their speech of a "glorious return" to Havana--where no one has been allowed to die and nothing to change until then; to Mexicans who pass through, talking lyrically of dólares to be made in El Norte-- all wanting the comfort of spoken Spanish, to gaze upon the family portrait of her plain wide face, her ample bosom resting on her plump arms, her look of maternal interest as they speak to her and each other of their dreams and their disillusions-- how she smiles understanding, when they walk down the narrow aisles of her store reading the labels of packages aloud, as if they were the names of lost lovers; Suspiros, Merengues, the stale candy of everyone's childhood. She spends her days slicing jamón y queso and wrapping it in wax paper tied with string: plain ham and cheese that would cost less at the A&P, but it would not satisfy the hunger of the fragile old man lost in the folds of his winter...
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... * Digital Access | * Digital Law | * Digital Commerce | * Digital Rights and Responsibility | * Digital Communication | * Digital Health and Wellness | * Digital Literacy | * Digital Security | * Digital Etiquette | | 1. You setup a new event on ical to remind you to change your password every three months. Digital Security 2. Various restaurants and coffee shops are now offering free Wi-Fi (wireless Internet connection). Digital Access 3. You respond to an email with ALL CAPS. Digital Etiquette 4. You purchase a used gaming system and find that the previous owner’s account information has not been deleted. You go into the online store and start making purchases with their account information. Digital Law 5. You watch Lynda videos to learn how to use photoshop. Digital Literacy 6. You ask your boss for a standing desk so that you don’t have to sit down at work. Digital Health and Wellness 7. You post on a discussion board asking friends to vote for you in an online music contest. Digital Communication 8. Adding items to your wish list on Amazon that you share with your friends and family. Digital Commerce 9. You sign a petition to support the revision of the Electronic Communications Privacy Act that would restrict police from reviewing private emails without a warrant. Digital Rights and Responsibilities Part II: Digital Citizenship Compass Not comfortable with this ...
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...employment responsibilities and rights in health, social care or children and young people’s settings Unit number: 201 Unit reference: R/602/2954 Produce an employee document/handbook that has information on Employee Rights And Responsibilities. Your document should consist the pointers outlined below. 1 statutory responsibilities and rights of employees and employers Rights at work Your rights at work will depend on:- Your contract of employment cannot take away rights you have by law. So if, for example, you have a contract which states you are only entitled to two weeks' paid holiday per year when, by law, all full-time employees are entitled to 28 days' paid holiday per year, this part of your contract is void and does not apply. The right you have under law (to 28 days' holiday in this case) applies instead. If your contract gives you greater rights than you have under law, for example, your contract gives you six weeks' paid holiday per year, then your contract applies. There are special rules about the employment of children and young people. Statutory rights Statutory rights are legal rights based on laws passed by Parliament. Nearly all workers, regardless of the number of hours per week they work, have certain legal rights. There are some workers who are not entitled to certain statutory rights Sometimes an employee only gains a right when they have been employed...
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...raised in the IPO * Many VC firms are formed from a group of investors that pool capital and then have partners in the firm decide which companies will receive financing Choosing a Venture Capitalist * Financial strength is important * Style is important * References are important * Contacts are important * Exit strategy is important The Public Issue * Public Issue—the creation and sale of securities, which are intended to be traded on the public markets * All companies on the TSE(Toronto Stock Exchange) come under the Ontario Securities Commission’s (OSC) jurisdiction The Basic Procedure for a New Issue * Prospectus—Legal document describing details of the issuing corporation and the proposed offering to potential investors * Red herring—Preliminary prospectus distributed to prospective investors in a new issue of securities * Seasoned new issue—A new issue of securities by a firm that has already issued securities in...
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...Acquisition Process Smith (1986) 1. Introduction This paper reviews the various methods firms use to raise capital and the effect these methods have on security prices. Firms can raise external capital by selling several securities which they market in different ways. In terms of the theory of corporate finance, capital markets play a vital role in a firm’s investment policies. Therefore, it is critical to have an understanding of the various contractual procedures in the process of raising capital. To provide us with this understanding, this paper will look at the theory and evidence related to stock price reactions around announcements of differing security offerings, the contractual arrangements associated with the marketing of corporate securities and incentives for under-pricing in initial public equity offerings. 2. On the corporation’s choice of security to offer When contemplating the type of security to issue, the corporation must consider the reaction of the market to its announcement. Four generalisations are made when looking at the two-day common stock price reactions to the announcement of industrial and utility firms raising capital with various securities – * average abnormal returns are non-positive; * abnormal returns around the time of the announcements of common stock sales are negative and larger in absolute value than those observed with preferred stock or debt; * abnormal returns around announcements of convertibles are negative...
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...Forwarding Letter To Course Instructor Anup Kumar Saha Lecturer, Department Of Business Administration. ASA UNIVERSITY BANGLADESH Subject: Submission of Report. Dear Sir, Here is the report that you have assigned us to prepare on summary of corporate finance. In the preparation of this report, I try to utilize the various related issues that are relevant for corporate finance. However, it is an educational and interesting report. I am very much delighted to be able to work on such a report and learned a lot. FROM, MD.ARIFUL ISLAM ID NO-103-14-0070. SECTION-A. REPORT ON CORPORATE FINANCE Cost of capital The cost of capital is a term used in the field of financial investment to refer to the cost of a company's funds (both debt and equity), or, from an investor's point of view "the shareholder's required return on a portfolio of all the company's existing securities". It is used to evaluate new projects of a company as it is the minimum return that investors expect for providing capital to the company, thus setting a benchmark that a new project has to meet. Cost of debt The cost of debt is computed by taking the rate on a risk free bond whose duration matches the term structure of the corporate debt, then adding a default premium. This default premium will rise as the amount of debt increases (since, all other things being equal, the risk rises as the amount of debt rises). Since in most cases debt expense is...
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...What is an Initial Public Offering (IPO)? How does an IPO allow an organization to grow financially? An initial Public Offering (IPO) is the first sale of stock by a private company to the general public. It allows the company to raise money, and it also allows the comapny to gain future access to the public markets When is a merger or an acquisition, rather than an IPO, a more appropriate way to grow? When the purpose that you are looking for is synergy more than capital for further investments. Select a recent IPO and use the Internet to identify the following characteristics of the selected IPO: I chose GT Solar International a. Initial offering price: $16.50 b. Price 1 month after offering c. Current market price: $9.23 d. Number of shares outstanding at the time of the IPO 142,375 e. Number of shares outstanding 1 month after offering 142,390 f. Current number of shares What features of common stock indicate ownership in the company? What is the ways shareholder’s benefit from ownership? * Claim on Income Common stockholders are entitled to a share of the profits in the form of dividend or it can be retained and reinvested in the company. The amount of dividend payments is not based on a fixed percentage rate, it is recommended and decided by the board of directors. * Claim on Assets If a company goes bankrupt and liquidates all its assets, the common stockholders have the right to receive their share of sale proceeds...
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...each year, the company will have to go public with an initial public offering (IPO) within the next three years. The purpose for this paper is to review Gene One’s decision to become a public company. Taking Gene One public would be a new venture for the senior team members, who realize that, collectively, they have zero experience with IPOs. This paper looks at the issues and opportunities Gene One is facing, stakeholder’s perspective and ethical dilemma, the end-state goals, alternative solutions, a risk assessment and the optimal solution, and last implementation of the plan. Situation Analysis Issue and Opportunity Identification Gene One is a company that entered the biotech industry with groundbreaking gene technology that eradicated diseases in tomatoes and potatoes. In just eight short years, the company grew into the $400 million company that it is today. Past events that have led to Gene One current issues and opportunities are the fact that the company has grown at such a rapid pace that it outgrowing itself. Further, an increase in stock prices is indicative of the growing interest in the biotech industry. Don Ruiz, the company’s CEO, and the board of directors believes that if the company is to continue its growth of 40% each year, the company will have to go public with an initial public offering (IPO) within the next three years. Stakeholder Perspectives/Ethical Dilemmas The rights, interest and values of the various stakeholders in an organization plays...
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...TOPIC: ANALYSIS OF EQUITY SHARE CAPITAL AS A SOURCE OF FINANCE IN AN ORGANISATION RESEARCH PAPERS The 2 research papers under study are 1. The effect of CEO ownership and shareholder rights on cost of equity share capital. 2. What motivates seasoned equity offerings? Evidence from the use of issue proceeds. COST OF EQUITY CAPITAL AND ITS EFFECTS TO THE MANAGEMENT Introduction This paper investigates the cost of equity capital and its effects to the management which intends to hinder shareholders right. The purpose of which is to investigate whether managerial ownership affects the associations between the shareholders rights and the cost of equity capital. There are two variables in the article which can be clearly identified. The variables are; 1) The shareholders rights and 2) The cost of the equity capital. 1) THE SHAREHOLDERS Shareholders should have the right to discipline the managers, who are the employees of the organization, in the case of the mismanagement or the improper use of the funds. The shareholders have right to demand for the success of the organization through competing aggressively in order to gain profitability. The shareholders have right to elect and remove the management from the office and also to access or evaluate the books of accounts of the organization. 2) COST OF EQUITY CAPITAL Rate of return of equity Current market price and the nominal value of equity capital CONCEPTUAL FRAMEWORK THE AGENCY PROBLEMS: THE MANAGEMENT...
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...Chapter 19 Issuing Securities to the Public 1. The Public Issue:The basic procedure for a new issueI. Obtain approval from the board of directors.II. The firm must prepare and file a registration statement with the SEC. Registration statement : A carefully prepared set of documents, including aprospectus, which is filed with theSECprior to aninitial public offering.III. The SEC studies the registration statement during a waiting period . Duringthis time, the firm may distribute copies of a preliminary prospectus.A registration statement will become effective on the 20 th day after its filing unlessthe SEC sends a letter of comment suggesting changes. After the changes are made,the 20-day waiting period anew. preliminary prospectus The initial document published by anunderwriterof anew issueof stock to be givento prospective investors. It is understood that the document will be modifiedsignificantly before thefinal prospectusis published.also called red herring. prospectus A legal documentoffering securitiesormutual fund sharesfor sale, required by theSecurities Act of 1933. It must explain theoffer, including theterms,issuer,objectives(if mutual fund) or planned use of the money (if securities),historical financial statements, and other information that could help an individual decidewhether theinvestmentis appropriate for him/her.also calledoffering circular orcircular. waiting period The period after a company'sprospectushas been...
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...Chapter 19 Initial Public Offerings, Investment Banking, and Financial Restructuring ANSWERS TO END-OF-CHAPTER QUESTIONS 19-1 a. A closely held corporation goes public when it sells stock to the general public. Going public increases the liquidity of the stock, establishes a market value, facilitates raising new equity, and allows the original owners to diversify. However, going public increases business costs, requires disclosure of operating data, and reduces the control of the original owners. The new issue market is the market for stock of companies that go public, and the issue is called an initial public offering (IPO). b. A rights offering occurs when a corporation sells a new issue of common stock to its existing stockholders. Each stockholder receives a certificate called a stock purchase right, or right, giving the stockholder the option to purchase a specified number of the new shares. The rights are issued in proportion to the amount of stock that each shareholder currently owns. c. A public offering is an offer of new common stock to the general public; in other words, an offer in which the existing shareholders are not given any preemptive right to purchase the new shares. A private placement is the sale of stock to only one or a few investors, usually institutional investors. The advantages of private placements are lower flotation costs and greater speed, since the shares issued are not subject to SEC registration. ...
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...profit-sharing agreement or in any oil, gas, or other mineral royalty or lease, any collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or in general, any instrument commonly known as a "security"; or any certificate of interest or participation in, temporary or interim certificate for, receipt for, or warrant or right to subscribe to or purchase, any of the foregoing; but shall not include currency or any note, draft, bill of exchange, or banker's acceptance which has a maturity at the time of...
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...Agency Problem Clash between shareholder and management. How to Reduce (1) Threat of job (2) Stock / Share offering (3) Centralized Decision (4) Monitoring Financial Market The market where securities are sold and purchase is called financial market. Financial System The system in which the surplus and deficit which meets together for their mutual benefits. e.g. Bank loan. Surplus Unit The units which have excess money. Deficit Unit The units which need money. Financial Intermediaries The bank, person or party, financial institution which act as a middle man between surplus and deficit units are called financial intermediaries. Three types of financial intermediaries (1) Investment Bank (2) Broker (3) Dealer Investment Bank (a) Under Writing or Initial Public Offering (IPO) IPO: The first prize of the security (b) Best Efforts Offering Underwriting In under writing the bank took the security from the company and tries to sell them in the market. The unsold securities should be purchased by bank. Purchased these securities less than “IPO” price. Best Efforts Offering In this service the bank took the securities from the company and tries to sell in the market. The amount of sold securities and unsold securities return back to the company. Broker (Agent) It is a person which act or perform on the behalf of the owner. Dealer It is a person which work independently Types of Financial Market There are five...
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...decisions management faces are not easy ones and they must carefully determine the best strategic approach or run the risk of financial ruin. Kudler Fine Foods Kudler Fine Foods is one such organization looking to expand its operations. Currently, Kudler Fine Foods owns and operates three stores all based in the San Diego, California area. Kudler Fine Foods, an upscale specialty foods store offering domestic and foreign foods as well as spirits to its customers, began in mid-1998 and within nine months was already making a profit. Kudler Fine Foods opened two additional stores, one in 2000 and one in 2003 (Apollo Group, 2011). Because business has been so good, management is looking at another possible expansion and is seriously considering the options available. In order to make the most beneficial as well as profitable decision, management must take its time and carefully weigh all its options before selecting the appropriate approach to expansion. The IPO approach In order to expand, management for Kudler Fine Foods must choose between three approaches. These three approaches include offering shares of its organization to investors and the public with an IPO, acquiring a similar organization within its industry, or merging with another...
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...About the BAT with Sample Questions Table of Contents Introduction Test Overview Sample Questions Scoring Introduction We are excited about your participation in the Bloomberg Aptitude Test (BAT). The BAT is a global, standardized online exam that the Bloomberg Institute has developed in partnership with premier companies, university faculty, and business professionals around the world. The test is designed for undergraduates and recent graduates who are interested in an entry‐level job in the business world. The following information packet is intended to familiarize you with the content and structure of the BAT. Enclosed you will find information about the test’s goals, sections, and scoring. There is also a list of annotated sample questions for you to review. If you have any additional questions about the content of the test, please feel free to contact us at bat@bloomberginstitute.com. Table of Contents Introduction Test Overview Sample Questions Scoring Test Overview The BAT aids employers in identifying and screening students who wish to pursue a career in business and finance. Test takers should have a general understanding of and familiarity with current events in business, finance, and economics. However, we are not assessing knowledge: we are assessing a person’s aptitude to be successful in these fields, regardless of background. 2 Hours 8 Sections 100 Questions Chart and Graph Analysis 12% News Analysis 12% Global Markets 14% ...
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