Lamb to the Slaughter Essay

bloody shame Mal maviny proves to be an interesting character in this story. She fits well with the dramatic irony, tad, figureism, and the over whole motif of the story because of the brilliant enactment done on her character. catjang pea, at the beginning of the story, sets up the premise that the lector should solely empathize with her character. Continuously, he keeps building the pretense that she is a sweet, fair dearest (which is a major motif) only capable of following the pursuit (previously mentioned on a lower floor symbols). As the story progresses, the reader realizes that she is basically macrocosm slaughtered by her butcher of a con swear out. There are three go extraneouss to this slaughter. oneness is the emotional slaughter that her preserve under offsprings, which starts to slowly alter her character. The second part is the aftermath of the more physical part of the slaughter where Mary Maloney very kills her husband with a leg of lamb.The results of this also slaughter her lamb-like character compensate more, and that is the third and final part of this massacre. Instead of being a nave, innocent slave to her husband, she is now a malicious, demented (evident in the latter(prenominal) part of the story where she giggles due to the incident that she got away with bump off), and a unthaw cleaning woman a woman with no slight implication that she was ever under her husbands great power. Dahl makes sure to use tone to describe just how more her husband control lead her, and how uplifted she was when he was gone. exploitation dramatic irony, he highlighted the one end of Maloneys mental spectrum. Overall, Dahl compacted many literary elements in such a short story, so far he composed it into such a way that eachthing is delicately cogitate upon each other. With discover the tone, one wouldnt get such a effectual impact from the irony.Marys characterization would have seemed less severe, and the intellect of slaugh ter would be interpreted differently. Dahl uses this story to describe the intense result of a common theme. Our main concern was to question if this was a worthy valet of literature that could convey a theme or a moral decision that could impact anyone. With the evidence previously mentioned, this piece was worthy of the Dahl name, and that the elements in this story hanged together in a delicate balance. Without one element, his message would not have been conveyed as strongly as it was.RoundMary goes from slaving over her husbands every move, to cleansing him Expanding more on that, she goes from being a lamb, one who follows, to being the butcher, the one who rules. She finally takes control of her disembodied spirit, as if she has been resurrected from the depths of her despair, ironically, after her husbands death. She goes from being weak to actually being in charge of her life and what she does. The point of a dynamic character is not to just diversity morally/physical ly, but to deform more complex. Obviously, as this story continued, Mrs. Maloney is a prime example of a complex character. Her name (Mary Maloney), that she has a husband (Patrick Maloney- a guard officer), how long she has been pregnant (six months), inferences on her home (rather comely, with a pleasant aura classic feel of a late twentieth century house), her status (house wife), and a description of her looks (translucent skin, spacious, dark, placid eyes), daily habits and constitution (before and after her realization). *All occur during the exposition (paragraphs 1-33)Symbolism The partnership of lamb The lamb in the story is the wife. She does everything for the husband. She gets his slippers, makes him dinner, and slaves over him. And to thank her for all her work, he gives her a divorce. Basically, the reader can obviously see she is the weakest one here. She has no say in ithe has his mind set. Her labors and effortsher life is being torn apart by this guy. He wants it to be a surreptitious affair, for the sake of his job. And shes just the wife to do it. His career go out be intact, while hers (the loving housewife) will not be. She is a weak, woful lamb, and she is being slaughtered. Then, she just couldnt take it anymore. She fought back, and that resulted in murdering her husband. When killing occurs in a story, its usually significant for both(prenominal) reason. It shows someone overcoming some obstacle. Here, the lamb of a wife overcomes her butcher of a husband (the fact that he is a police officer screams control freak) by killing him.And with it, she kills her status as a lamb. The lamb status has been slaughtered, and a free woman is left. Due to the fact that her husband is leaving her for someone else, while she is pregnant, her innocent, worthless, and powerless self is exaggerated. Though, after the murdering of her husband, this lamb status is slowly crumbling away to distinguish a more strong, take initiative type person . The slaughter This occurs when the police arrive and eat the lamb. That is the slaughter it is the destruction of the leg of lamb. It, the leg of lamb, was the symbol of her meek status, for it was the only reminder of what she had done and what she was like back and so. Once that lamb is gone, so is all evidence that she was ever under her husbands power. Irony There are two major examples of irony in this story.1. Dramatic Irony Where Mrs. Maloney feeds the police officers that were investigating her husbands death, and were friends with the late officer, the club of lamb that she employ to kill Patrick Maloney. champion officer saying that the murder weapon could have been, Probably right(a) under our very noses? (Paragraph 131). 2. Situational Irony The title of the story is itself, a large pun A lamb to the slaughter usually refers to someone who is unsuspecting they are about to be harmed. This is from the idea that lambs are easily led to their slaughter since they tru st the one leading them, and they are asleep of what is to experience of them. In this story, the husband, Patrick Maloney, is killed like a lamb. He totally trusts his wife, Mary, and is completely unaware of his impending doom. However, the title is also ironic because it is actually a rimy leg of lamb that is used to slaughter the hapless victim.ToneIronic- the lamb that was supposed to be served as supper to nourish Patrick was, in the end, the weapon used to kill him. And the said club of lamb was given to the cops to eat at dinner. Tragic- That a couple, who is expecting their first child, end up hurting each other. Patrick wants to land his wife mentally, while his wife destroys him physically. Comical- At the end, the sergeants who were supposed to capture the murderer, unknowingly cooperated with our murderer to destroy the evidence by eating up the murder weapon.Tone played an essential part for the smooth transition from Marys innocence to a charming psychopath. To fi t with the desperation of her future divorce, Dahl dwells into the habitual life of Mrs. Maloney and every chronic detail of that block of time. He goes into describing every agonizing second of her life, and elongates those seconds into years when her perfect ritualistic life suffers a small change that snowballs into something catastrophic. The minute she kills her husband, the story seems to be more uplifting. As if the reader is no longer suffocated by simple, and overbearing aspects of the couples life. Towards the end of the story, one could even take the tone as somewhat humorous. The childish giggle let out at the end not only emphasized what she had done and serve as a way to ease tension.Theme The universal theme is that you should not underestimate the power that the weak may hold. In this story, thither was a clear indication how much power Mary held inwardly the relationship between her and her husband. My interpretation was that even though the weak may seem power less, they can be stronger than those in control when they claim their power. She ability just as well have hit him with a vane club.(Paragraph 42) She swung the leg of lamb so hard it had the strength of a nerve club. Women are typically, small and not as strong as men, so being able to strike a man in the straits with the force of a steel club is astonishing. She stepped back a pace, waiting, and the curious thing was that he remained standing there for at least quaternity or five seconds, gently swaying. Then he crashed to the carpet.(Paragraph 44) Crashed to the floor, thats how much power she had, when driven by a strong anger. By power came intelligence, as soon as Mary realized she had killed her husband, she was able to prink a plan in order to ultimately get away with murder. Dont underestimate the weak, because sooner or later, theyll rise to become powerful. In this case, the consequence of such thinking resulted into murder. The control Patrick had on his wife bec ame just an illusion after we saw the capability of Mary.View as multi-pages

Malaysian Airlines vs Air Asia

Malaysia flight paths groundwork Malaysia respiratory tracts, the countrys national carrier, was first incorporated as Malayan songways Limited (MAL) on 12 October 1937. It was a centert initiative of the Ocean Steamship ships ships companionship of Liverpool, the Straits Steamship of capital of Singapore and Imperial publicizeways which led to a end to the Colonial Straits Settlement government to run an ship dish out between Penang and Singapore. On 2 April 1947, MAL took to the skies with its first technical flight as the national skyway.Fuelled by a young and dynamic team of visionaries, the interior(prenominal) carrier saturnine into an international airline in less than a decade. With the formation of Malaysia in 1963, the airline changed its name to Malayan flight paths Limited. In 1965, with the judicial separation of Singapore from Malaysia, MAL became a bi-national airline and was renamed Malaysia-Singapore songlines (MSA). However, in 1973, the partners went separate ways. Malaysia introduced Malaysian Airline Limited, which was subsequently renamed Malaysian Airline System or in short, Malaysia Airlines.Today, Malaysia Airlines locomote an average of 43,000 passengers daily to approximately 100 destinations worldwide and holds a elongated record of service and best practices excellence. It was the recipient of the inaugural Worlds Best cabin Staff award by Skytrax,UK in 2001 and continued to retain this rubric for 2002-2004, 2007 and 2009 the most for any airline. In 2010, Malaysia Airlines was recognised as the Worlds Leading Airline to Asia, Asias Leading Airline and Asias Leading Business Class Airline by World Travel Awards (WTA). This course of study, WTA honoured Malaysia Airlines as Asias Leading Airline and Asias Leading Airline Lounge.The national carriers engineering subsidiary, Malaysian Aerospace Engineering (MAE), has excessively been admit as the top airline affiliated Maintenance and Repair nerve (MRO) in t he world by Aviation Weeks Overhaul & Maintenance magazine. Its on-going fleet includes Boeing 747-400, B777-200, Airbus 330-300, Airbus 330-200, Boeing 737-800 and Boeing 737-400. By the second quarter of 2012, Malaysia Airlines give also join the league of the Airbus A380 operators, when the first of the six aircraft ordered enters into service. The national carrier will be the eighth airline in the world to operate this biggest commercial aircraft.Malaysia Airlines is set to join hotshodeucerld by end of 2012, adding one of aviations most stag award winners to the world leading quality airline alliance. When it becomes part of oneworld, its guest will gain access to the alliances truly global network. It will lucubrate oneworlds global coverage to almost 950 destinations in 150 countries, served by a combined fleet of more than 2,600 aircrafts operating some 10,000 flights a day. AirAsia Introduction AirAsia is a Malaysian-based low-cost airline. AirAsia is Asias largest lo w-f atomic number 18, no-frills airline and a pioneer of low-cost travel in Asia.AirAsia was established in 1993 and began operations on 18 November 1996. It was originally founded by a government-owned conglomerate, DRB-Hicom. On 2 December 2001 the heavily-indebted airline was bought by former Time Warner executive Tony Fernandess phoner Tune Air Sdn Bhd for the token sum of one ringgit with USD 11 million worth of debts. Fernandes turned the telephoner around, producing a profit in 2002 and launching new routes from its hub in Kuala Lumpur, undercutting former monopoly operator Malaysia Airlines with promotional f ars as low as MYR 1.In 2003, AirAsia heart-to-heart a second hub at Senai International Airport in Johor Bahru proficient Singapore and launched its first international flight to Bangkok. AirAsia has since started a Thai subsidiary, added Singapore itself to the destination list, and started flights to Indonesia. Flights to Macau began in June 2004, and flights to m ainland China (Xiamen) and the Philippines (Manila) in April 2005. Flights to Vietnam and Cambodia followed later in 2005 and to Brunei and Myanmar in 2006, the latter by Thai AirAsia.On August 2006, AirAsia took over Malaysia Airliness Rural Air Service routes in Sabah and Sarawak, operating under the FlyAsianXpress brand. The routes were subsequently returned to MASwings a twelvemonth later, citing commercial reasons. Qualitative characteristics Qualitative characteristics of invoice education refer to the characteristics that essential(prenominal) be present in the accounting training to make it make use offul. These characteristics argon divided into two categories primary and secondary qualities. primary qualities The primary qualities of accounting information are relevant and reliability. a) applicable In everyday terms, we cogency describe relevant as central or being related. In accounting, relevant is described as something that makes a difference in arriving at a decision. In opposite words, something is said to be relevant if it influences or affects the decision being made. The extent to which information is considered relevant depends on its splendor in decision making and may differ between one decision maker to a nonher. Information that is relevant to you qualification non be relevant to another person and vice versa.To become relevant, the information must(prenominal) have three characteristics, namely feedback value, forecast value and timeliness. (i) Feedback Value germane(predicate) information must be able to assist users in collateral or correcting early expectations matters at hand. (ii) Forecast Value Relevant information must be able to assist users in forecasting. (iii) Timeliness Relevant information must be obtained before it becomes obsolete or unusable. (b) reliableness dependability heart that users piece of ass rely or depend on the said information to make good decisions.This characteristic is important beca use users major power not have the time or expertise to evaluate some information. Generally, users simply depend on the information presented by the related entity and support it to be true. This information is then used in decision making. Reliability does not mean that the said information must be precise. This is because in accounting there are a lot of information that involves affection and estimation that might not be precise. What is important is that the estimation and approximation made must be reliable.Reliable information must have the succeeding(a) characteristics (i) Verifiable This means that the accounting information could be verified objectively by another person using the same method. (ii) intent Objective in this case means that the information is not biased. Information contained in the financial tales must be able to fulfil the requirements of various users and not concentrating on certain groups only. (iii) Trustworthy Information presented is based on the tangible result of economic activities using specified methods. secondary qualities. The secondary qualities are compare and consistency. c) Comparability Comparability means that the information can be compared whether among companies, industries or different periods. This will enable users to identify the similarities or differences that might exist in the said information. This characteristic is important because information that can be compared is more useful. (d) Consistency Consistency means that an entity must use the same accounting procedures in every period. It is for the purpose of enabling par to be made more answerively. In other words, a company cannot change their accounting procedure every social class.This does not mean that the company cannot change the accounting procedure at all. Changes can still be made, further the company must make complete disclosure in the financial disceptation to explain to the users why they are making the changes and the effe ct of the changes towards the financial statements. In summary, accounting information is only useful if it has relevant, reliability, comparability and consistency qualities. Statement Of Comprehensive Income Referring to the Annual reports for the stratum 2010 and 2011 it shows Air Asia gained a revenue of RM 4,495 one million million for the year 2011 as compared to RM 3,948 one million million million for the year 2010.There was an adjoin of 547 one million million, However, the net profit of the company subsequently tax have shrunk subdue from RM 1,061 one thousand thousand in 2010 to RM 555 billion Therefore, The companys profit after tax have reduced by RM 506 Million. Malaysian Airlines gained revenue of RM 13,901 Million for the year 2011 as compared to RM 13,585 Million for the year 2010. There was an increase of 316 Million, However, company is facing a big divergence after tax for the two years A loss of RM 237. 3 Million in 2010 to a loss of RM 2,521. Million i n 2011 Therefore, with this information available the investors can acquire that Air Asia is having a good profit after tax but Malaysian airlines is in big loss after tax. Statement of pecuniary Position Total asset of Air Asia as on 2010 is RM 13,240 Million and got increased to RM 13,906 Million in 2011. Malaysian Airlines had a total asset of RM 613,639 Million in 2010 and increased to RM 815,468 Million. Statement Of Cash Flows One of the important point investor should look for when investing in a potential company is the companys ability to produce interchange.Just a pointer it is not necessary for a company that shows a profit in an income statement does not mean that it cannot get into problems later because of insufficient immediate payment electric current According to the Statement of Cash Flows in the annual report of Air Asia, The cash flow from operating activities is RM 1594 million in the year 2010 and RM 1404 Million in the year 2011 The cash flow from invest ing activities is RM 1868 Million in the year 2010 and RM 487 Million in the year 2011 The cash flow from financing activities is RM 1031 Million in the year 2010 and RM 300 Million in the year 2011 The net cash flow for the year 2010 is RM 757 million and RM 617 Million for the year 2011.According to the Statement of Cash Flows in the annual report of Malaysian Airlines, The cash flow from operating activities is RM 105. 5 million in the year 2010 and RM 960 Million in the year 2011 The cash flow from investing activities is RM 3362. 6 Million in the year 2010 and RM 1341. 6 Million in the year 2011 The cash flow from financing activities is RM 2922. 4 Million in the year 2010 and RM 1310. 4 Million in the year 2011 The net cash flow for the year 2010 is RM 1851 million and RM 860 Million for the year 2011. Statement of Changes in Equity The statement of changes in equity represents a company profit or loss for an accounting period.The items of income and expense which is recorded in the Statement of Comprehensive Income for the period, the set up of changes in accounting policies and corrections of error recognised in the period, and the amounts of investments by, and dividends and other distributions to, equity investors during the period. (didnt find much info) ASSESSMENT OF INFORMATION relevance Information relevance refers to the feedback value, forecast value and timelines. If the net income and its components confirm investor expectations about(predicate) future cash-generating ability, then the net income has feedback value for investors. This confirmation can also be useful in predicting future cash-generating ability as expectations are revised. For information to be relevant, it needs to be predictable. By looking at the data, forecast can be made whether income will be acquired. The digest characteristic is timelines.To be relevant, the data should be up to date not outdated. The annual report of both Air Asia And Malaysian Airlines is availab le in their official website. There, they have an archive that lets you download the annual report check to year.. ASSESSMENT OF INFORMATION RELIABILITY Sometimes, the information given by the constitution is the only data that the user depends on. This could be because of lack of knowledge to measure out the information and lack of time to do so. In this case, the user must make sure the information given can be relied upon. To evaluate reliability, we have to think about three matters which are verifiable, objective and trustworthy.Verifiable means that the information can be validated by someone else. twain Air Asia and Malaysian Airlines annual report can be downloaded by everyone who owns a laptop or desktop. That means that the information can be verified by everyone else. From the 2009 annual income to the the 2010 net profit, it can be look into by everyone else. It is important to get someone who knows what to look for to validate the information for you. Without thei r validation, decision making can be hard to do. Make a conclusion that air asia is having a good profit but Malaysian airlines is going with heavy loss So its safe to invest with air asia than with Malaysian airlines

Mercury Athletic Footwear: Valuing the Opportunity Essay

Team 10 / Mergers and Acquisitions westward Coast Fashions, Inc (WCF) was a large byplay, which dealt with mens and womens apparel. mavin of their divisions was hectogram Athletic footgear. WCF wanted to dispose off this segment. They expert wanted to divest because they wanted to focus more on their core demarcation and move it up to the elite class. John Liedtke was the Business Development place at that time in Active appurtenance Inc. He had a clear idea that acquiring quicksilver will shoot up AGIs revenues for sure. It would also ensure an expansion of the key demarcation. In arrangement to get a clearer picture on the acquisition, he needed to liken and analyze the gilds financials well.By this he could gauge the pros and cons of this acquisition. ar the st sendgic reasons behind the Merger good replete? Explain As a team, we had several(predicate) views on this question. Some reasons make us hypothesise that it may be beneficial for AGI to grab the hazard but more or less make us think that it king non be as promising as it seems. Let us see why we savour it is a good idea for AGI to acquire mercury.Active Gear Inc.hydrargyrum Athletic FootwearRevenue$470,285mn$431,121mn% Revenue Product wise42% Athletic 58% everyday79% Athletic 21% insouciantOperating Income$60.4mn$42,299mnRevenue harvest-time2% to 6%12.5%Active Gear was one of the most successful firms in terms of profitability, in the footgear industry. Mercury looked like a good opportunity for anattractive investment funds because they almost have the like revenues, while being smaller in size, in the grocery store. The Percent revenue in the day-after-day footwear in AGI compensates for the gap in Mercury. Its a perfect sense of equilibrium. When we looked at the industrial average of revenue egress is 10% and AGI is below the standard, however Mercury is above by 2.55%. It is a good sign to move leading for this acquisition, as it will enable AGI to persist at the top in the market. Both companies are in the same industry and have same crossways. Both Mercury and AGI does its manu detailuring in China. AGI sourced its alternatives to the contract manufacturers in China.Mercury stinkpot leverage with these manufacturers as China just experienced a hustle of consolidation favorable for these kinds of manufacturers. This, in turn, can enable AGI to have the opportunity to expand with its top retailers and distributors. Mercurys cost of manufacturing is low and could facilitate to sync the lower profit margins of AGI, which it had been facing from its suppliers, distributors and consumers. (Refer Case summon 5 and 3). Mercury had always been an autonomous body, which harbored its own financials, data management, resource management and distribution. This would pave a smooth way for AGI to take everywhere. This smoothness could not have been expected had Mercury been totally under WCF. today let us look at why some of the members of the team thought that the acquisition is not an appropriate decision There would be st locategic clashes because AGI focuses on Classic and elite products with long life, on the other(a) hand, Mercury focused on flexibility and changed its products establish on expect and trend. (Refer Case study Page 2 and 4).There is a commodious difference in days stock- winning between the two companies. It authority that in that respect must be a strategy of keeping their products on shelf. We also come to know that Liedtke believed that Mercury can adopt the stemma Management of AGI and a bit incremental cost and then it capability reduce the levels of DSI of Mercury. Mercury also concentrated on a different geographic section than AGI. We also think that this Acquisition susceptibility just entail a complete take-over of the Womens melodic phrase of Mercury. However, it efficiency me a loss making business for AGI later (Refer case study Page 6). Review the projections by Liedtke. Are they appropriate? How would you recommend modifying them? We enthrone the indicate 7 for tingeenceAs a team we analyzed individually segments projectionMens AthleticThis segment indicated a 8,72% average growth rate from 2007-2011. According to the information in the case, Mens Athletic revenue grew more 40% over the prior year and the average compound rate from 2004-2006 was of 29%, thereof the forecasted pointedness should be based on this assumption from the case of CAGR of 29%. This projection seems conservative and it can be modified towards the expected 29% growth.Mens CasualWomens AthleticThis segmented shows a growth rate of 2,50% from 2007-2011. According to the information provided in the case, the gross revenue of this business line should be declining at 6,25% per year not increasing. Therefore its sales should decrease in this percentage not increase as project per Liedtke. Liedtke communicate for this business segment, an average growth rate 7,98% (2007-20 01). The case indicates a growth from 2004-2005 of 13,5% per year . Therefore this can be middling a conservative growth projection. Since this has been solid growth, this could be increased to maintain the 13, 5% sales growth in the upcoming yearsWomens CasualLietdkes projection scoopd that this business line was going to go away by the end of 2007 this is aligned with was its expected from Mercury management accord to the facts stated in the case (page 6). Given this information we can leave off that the Womens Casual as part of Mercury revenue source would disappear, therefore this projection seems reasonable if Mercury does not merge. If merger happens this business line can be enhance by the synergies of both companies and it skill be a positive approach to keep the brand alive.Estimated expectant ExpendituresThis projected expenditure was based on 5, 67% average growth rate from 2007 until 2011. The information in the case indicates that Mercurys expectant spending it s little since they focus its resources in market research and product designs.Estimated DepreciationThis item maintains an average growth rate of 5,67% for the years of 2007-2011. Because there is no more evidence of changes in depreciation this seems reasonable for Mercurys operations.Cash Used in OperationsFrom the Historical balance of exhibit 4, in 2006 Cash & Equivalents closed with a balance of $10,676. Liedtke projected a 61% decline for 2007 trim the Cash line item to $4,161. This reduction might be since the historical Balance Sheet (2004-2006) was taking into account Cash & Cash Equivalents where the projected Balance Sheet (2007-2011) its only taking into account Cash used in operations. In addition, it might also be affected by the fact of Mens casual footwear and Womens Casual Footwear revenue are declining and not generating enough sales.Accounts ReceivableThe accounts receivable of Mercury, maintained flat growth with a 6% average growth rate from 2006-2011. Probab ly they have credit terms with retailers and shops, although there is not enough information in the case about this, therefore it seems an appropriate projection.InventoryAccording to Liedtke projections inventory also maintain an average growth of 6% until 2011. An inventory increase its necessary for this type of business, since Mercury of necessity to supply large retailers with their Footwear. In addition, this increase might be reassert with the fact that, Mercury its receiving pressure from suppliers in China who need larger orders to operate at full capacity, therefore Mercury might be forced to make larger orders in the future to maintain its new relationship with the Asian suppliers. However, if Mercury its considering Womens Casual as dead brand this can make the growth to be somewhat conservative.Prepaid ExpensesAccording to Liedtkes projection these expenses increased from$ 10,172 to$14,747 in 2007 equal 42% increased. After 2007 Liedtkes projected an average growth rate of 6% will maintain an average growth rate. Prepaid expenses might be rent of related to to their operations however there is not enough information to assume that prepaid expenses can change precipitously over the projected years.Property Plant and EquipmentsThis line item seems to maintain a flat and conservative growth since there is no indications of major changes in this area in the future of Mercury fixed assets.Trademarks & early(a) IntangiblesThe amount in trademarks and other intangible should not change since the company already owns the brands of the different segment. If in the future the merger happens then this might decreaseAccounts PayableThis was projected with a 5% average growth rate per year since 2007. For this type of business model seems reasonable that mercury maintains a conservative growth rate for the future years. The company already has established relationship with retailers and probably their credit terms will remain the same for the upcoming y ears.Accrued ExpensesAccrued expenses which might be related to workers wages, increased from 16,981 to 22,778 in 2007 (21% increase). This increase seems somewhat aggressive since the company its probably expects to have less staff from the business lines, which are declining.Deferred TaxesTaxes might not suffer any changes, since this the taxes the company will have to make up for the upcoming years.Pension ObligationProjections of pensions seems reasonable and with no changes for upcomingyears. Nevertheless, if we assume that organizational changes will occur in the future such as lay-offs this line could be reduced.Value the target company, first by the DCF approach, and second, by multiples, using Liedtkes baseline case. Explain all the assumptions that you make in this processWe look at the valuation done by Joel L. Heilprin for Mercury when the WACC is 11.06% and the long run growth rate is projected at 2.78% However, our DCF uses a WACC of 8.73% and a long-term growth rate of 3%. We do take care that there is a significant difference from Heilprins calculations however, it is to reflect upon the seeming different set of the treasury securities that we chose.Here is our DCF, but please refer to the excel file (attached through Turn it In) for all the formulas and comforts we used to give us an idea and to help us distribute the solution. In one of our calculations we took Termination Value in 2007 based on the M&A. And in the other one, we took the Termination Value from 2011 because the FCF is growing slowly. (Please refer to the calculations in the Excel)Do you regard the value you obtained as conservative or aggressive? Why?Three calculations give different results because we took assumptions. The DCF method based on case assumption gives spiriteder value than the P/E method. Based on the calculation we get two different market value of the company. The evident one is $236,988.This approach can be considered as aggressive. Moreover the target company has the steady financial statement with a low debt proportion, while the bidder has higher debt in portfolio. We combine the company by Pooling Interest method. This situation considers that the bidder, which tries to target the company with higher price, is considered to be aggressive. From our turn down WACC calculations we drop the Cost of Capital, which can inversely raise the enterprise value. With our high enterprise value we have a higher proposal value to the buyer, higher than Heilprins.What kind of synergies or other sources of value not include in Lietdkes projections? How would you take them into account? The additional opportunities that the company has to purify the results are Maintain line of Women casual revenues. AGI has the opportunity to add this line of products. AGI can use the infrastructure of Mercury without new investments. Additionally, AGI could change the Women casual brand of Mercury to their own brand, so changing the products style to the d esign of lifestyle for women. The company could consider as minimum an EBIT of $0.5M similar to the 2004. advancement in DSI, DSO, DPO. Mercury has fewer DSI, more DSO, and more DPO. If we analyze the adjacent table, we can consider that AGI have the opportunity to match the DSI of Mercury with the ones of AGI. Additionally, the company has the opportunity of increase the PDO of Mercury with AGI, negotiating days of payment with the providers in China.These opportunities alter the Working capital in $17M for AP, and $22M for inventory. The total improvement for WC is $39M.Increase passel for their providers. AGI reduced the number of providers to allow them achieve more measure and put AGI in a better negotiating position. In that way, AGI could benefit from the bigger scale and continuing consolidation of their providers. Notice that the Gross margin of Mercury is 44%, while it is 50% for AGI. Therefore, with better negotiations for the Mercury products there is an opportunity for reducing COGS in $25M.Elimination of duplicated costs in China. Eliminate the surplus of tidy sum the company have in China. AGI manage their providers in China with 85 employees, and Mercury manages 73 professional. The merged company can eliminate at least the 73 professionals of Mercury. The value of 73 employees is $1.7M per year (assuming an average monthly payroll and related of $20k per employee).

Financial Case

By choosing the correct disgorges to go in in, objective Corporation can continue their growth and competitiveness in the retail Indus try. Executive Summary steer was first founded in 1 962, opening their first strain in Roseville, Imines tot. The store was designed to key themselves from the existing upscale store sees in the argona. The companys idea flourished and by 2005, fool became a major retailing pop rouses, recording revenues of over $52 billion from stores located in 47 different states.One of the main reasons scrape was able to be rise as successful as they are, is the idea of centering o the shopping experience as a whole, and non unless focusing on embarrasseder prices compared to thee r competitors. By embracing this idea, Target has been able to successfully attract their target d anemographic, a medaled, collateralized female, with children. In todays market, Target faces 2 main competitors Walter and woo. Wall(a) Mart ope values their stores similar to how Targets stores are operated, and their SST ores are self-aggrandisingly in competing areas of another.Walter focuses on driving their prices as low a s possible, creating a very small profit edge on their items, but makes a large profit du to their large 1 amount of sales. Cost is a warehouse retailer that charges a rank and file f e in order to receive their discounted prices. The company relies heavy on these fees, as they ma eke up 72. 8% of operating income. Cost attracts many of the same customers Target attract s, but the companies are generally not in the same views.Targets Capital Expenditure Committee is do up of top executives who me et monthly to review all capital have requests costing more than $100,000. This commit tee could approve any and all bemuses, unless the shake offs were worth more than $50 million an in this case, the project would fill approval from the board of directors. If the project involve sees openings new billet, a sure estate man ager, located in that specific geographic area, was r expansible for the proposal and presentation Of the proposal. The committee uses different fact Ores when analyzing the capital project requests.The factors are NP and oxygenate, the size and cost of the project, the effect this project has on other Target stores sales, store sensitivities, variance e to prototype, customer demographics, and the force it has on the Target carry. By care Ely analyzing each of these factors and locations, we were able to come up with a decision for EAI chi location. Analysis and Recommendations The first project we will discuss is the Gopher Place location. The proposal is f or $23 million to build a POP Target Store. This location has a very loaded NP and IR R in terms to the expense of the project.With the prototype NP achievable with sales of 5. 3% below R & P forecast, we would expect this store to be financially stable. The size of the pr Eject is reasonable, and with the strong NP and AI R the cost should be redeemed. The biggest factor against this location is the centralization of sales from preexisting Target stop rest. In this location, there are five Target stores already established and plans of two Inc miming Walter 2 Superstores. 19% of our sales are pass judgment to come from existing Target stop rest in the area, not benefiting the corporation.This location has a relatively small tribe, thou ugh they have been experiencing the largest population growth of the five projects. Only 12 % of the population fits our target demographic of adults with 4+ years of college education. The median salary is also on the higher(prenominal) end of the remaining projects and does not fit our target d anemographic. This location doesnt bring any new brand awareness to the Target brand and is go inning into a very crowded area of competition. The Whalen speak to project is by off the beaten track(predicate) the most expensive project, costing $1 19. Million to build a u nique, i floor Target store. This project has a project NP of $25. 9 million and an AIR of 9. 8%. With the large amount of investment, the NP and AIR figures AR .NET necessarily that strong but are still positive and could see growth. This is by far the large SST size project, with the largest expense by far. The expense alone makes us worried about the pr Eject. There are currently 45 other stores in the area, but this store would be the only one in a n urban center off major metropolitan area.This location would not have a major pertain on Sal sees from other Target stores, but could take away customers from competitors that are cure .NET in the Metropolitan area. The population of 632,000 is by far the largest population and 45% of them fit our demographic of collateralized adults. This location also brings a nun queue branding and advertising advantage and the expense could be fit against the brand wariness. The Barn is a proposal for a POP store costing $13 million and can reach its NP V with sales 18. 1% below the projected. The small investment allows for a large return run, even if sales fall below the projected.There are no other Target stores in the area and the strong population of 3 151 ,OHO people fits our target median income. This project should have been passed already if it werent for a disagreement with the developer. Soldiers Square is a project for a Supermarket costing $23. 9 million. In order t o achieve the forecasted NP and AIR of $300,000 and 8. 1 % respectively, sales would en d to be at 45. 1% above the forecasted sales level. The area is largely populated with other rate leers and currently 12 Target stores, with plans of building another 12.

Poetry Analysis of Going Blind by Rainer Maria Wilke

I chose the poetry Going Blind by Rainer Maria Wilke. Essentially, the poem outlines an observers thoughts about a lady friend at a party who is blind. My initial heart during the first hardly a(prenominal) lines was pity for the blind girl, as the poem talks about her hesitant smile and how she holds her cup differently than everyone else because she cant see them. She tries to heed along, laughs when cued, is left behind as partygoers start to wander. besides then the feeling changes during the last line and another feeling emerges, one of sparked curiosity and a slight shift of perspective.Leading up to that, the observer viewed the girl almost as weak and incapable, left of out the evenings events. She pitied the vacant stare and the slow movements. But then observer catches a glimpse of something else, a glimmer of deeper human race behind the milky look. The focus shifts to less of a judgement towards this unheard-of girl towards herself and a place of self-awareness. She realizes that everything may not be as her first glance may have suggested.Going Blind is written in a loose rhyme scheme that contributes to the relatable yet mysterious shade of the poem. The punctuation is not dissimilar to prose, but the sixteen lines in quatrain sorting are cut off to create the rhyme, which is a, b, b, a. I feel this poem appealed more to the sight, as the description given painted, for me, a clear come across of the room full of people, the way she sat with her tea, how the guests ambled from room to room, the way her eye looked.As far as metaphorical phrases go, the blind girls eyes were compared to a lit pond, and her demeanor was compared to a nervous performers. The authorship of Going Blind, from my perspective, is the complexity and the area of unknown within each white face we see. We can think we have someone figured out, when in reality, there is more than meets the eye, and specifically, there is more to the character of this poem than her disability.

How Politics is Played Told by One Who Knows the Game Essay

replete(p) politicians get to know a lot of politicians. Lyndon Johnson would take tetrad showers a day and brush his teeth over and over once more so he would be in the same room with a lump of politicians and he could talk to them briefly and make good connections. Lyndon Johnson in any case employ a man who would later turn corrupt named Bobby baker who answered ph sensations for the fair nursing home cloak room (a cloak room is interchangeable the perish room for politicians.) With Bobby Baker, Johnson was able to know the inner workings of politics. Ronald Reagan withal worked real hard to have good relationships in politics although he talked most Washington as if hed never visited the place.Lyndon Johnson utilize a specific method to get to know important deal called sell politic. In retail politics, a politician wins over one soulfulness at a time by learning near them specifically. strange LBJ and Reagan, Jimmy Carter lacked the charsima to win over people. Then Speaker of the House fee ONeill asked for seats to the inauguration ceremony, Carter offered him seats in the abide of the mansion this incident hurt his support from the Speaker for many years.The causality ends this chapter by explaining that he himself got to his position by networking with many important people. Good politicians get to know a lot of politicians. Lyndon Johnson would take four showers a day and brush his teeth over and over again so he would be in the same room with a bunch of politicians and he could talk to them briefly and make good connections. Lyndon Johnson also hired a man who would later turn corrupt named Bobby Baker who answered phones for the White House cloak room (a cloak room is like the break room for politicians.) With Bobby Baker, Johnson was able to know the inner workings of politics. Ronald Reagan also worked very hard to have good relationships in politics although he talked about Washington as if hed never visited the place.Lyndon Johnson used a specific method to get to know important people called retail politic. In retail politics, a politician wins over one person at a time by learning about them specifically. Unlike LBJ and Reagan, Jimmy Carter lacked the charsima to win over people. Then Speaker of the House Tip ONeill asked for seats to the inauguration ceremony, Carter offered himseats in the back of the hall this incident hurt his support from the Speaker for many years.The author ends this chapter by explaining that he himself got to his position by networking with many important people.

Mirror, Mirror on the Mind Essay

The sight of a strangers foot getting hammered induces an instant surge of sympathy within us. Watching a friend nauseate after eating something repulsive quickly causes our have got stomachs to turn. This ability to understand and relate to another individuals inside state has provided great motivation for inquiry. One source of explanation arose from research on reverberate neurons-which fire some(prenominal) during execution and watching of a behaviour (Rizzollati & Arbib, 1998). This particular class of neurons plays a crucial function in humanity kind interactions. The importance of the reverberate neuron system (MNS) for conference can be understood with its influence on signed confabulation including facial nerve nerve expressions and hand gestures and verbal language. fostermore, unhinges affecting human conversation-such as autism and schizophrenia-convey the impression of stemming from a malfunctioning MNS.Generally, human well-disposed interaction involv es both verbal and nonverbal forms of communication. Obvious examples of nonverbal communication are facial expressions and hand gestures. A recent functional magnetic resonance mental imagery (fMRI) study by Montgomery and Haxby (2008) found evidence supporting the outcry that the MNS contains distinct representations for facial expressions and hand gestures. Particularly, this study realised the wanting(p) parietal lobule and the facade operculum as the potential MNS brain regions involved in nonverbal communication. Further evidence comes from another fMRI study by Montgomery, Isenberg and Haxby (2007)-which demonstrated the energizing of the MNS during hand movements utilise to manipulate objects and hand gestures used to communicate.A terzetto fMRI study by Van, Minderaa and Keysers (2007) highlighted similar go outs by examining other acknowledged MNS brain regions-inferior frontal gyrus, posterior parietal cortex, insula and amygdala- public opinion to be associated with facial expressions. practise spontaneously increased in the MNS of participants that produced and observed certain facial expressions (Van et al., 2007). A study by Enticott, Johnston, Herring, Hoy, and Fitzgerald (2008) demonstrated an associations between mirror neurons and facial perception processing. Instead of using fMRI as a method of analysis, Enticott and colleagues (2008) used the transcranial magnetic stimulation (TMS) technique. In brief, much evidence supporting the familiarity of the MNS in the processes of facial expression and hand gesture exists. Such forms of communication form the basis for the later, more complex, verbal language development.Taking this thought further, verbal language also seems to be linked to the MNS. Firstly, Rizzollati et al. (1998) marked the stripping of mirror neurons in the F5 area within the monkeys frontal cortex. This primate-specific F5 area has been considered to be the homolog of the human Brocas area, which is a region cr ucial for language (Rizzollati et al., 1998). With this in mind, Horwitz et al. (2003) demonstrated that both spoken and signed language are associated with mirror neurons firing in Brocas area as a result of the production of language. In addition, an fMRI study by Aziz-Zadeh, Wilson, Rizzollati, and Lacoboni (2006) made translucent that the MNS of the premotor cortex is activated both when participants observed mouth, hand and foot movements and when participants charter phrases related to these body parts. Overall, these findings suggest that indeed the MNS influences verbal language.Moreover, another agency of understanding the importance of the mirror neurons influence on human amicable interaction is by considering the consequences of a malfunctioning system. Autism spectrum disorder is characterized by social and language impairments. In other words, individuals with autism tend to be less interactive when it comes to communicating with others. Part of the MNS-the posteri or inferior frontal and rostral inferior parietal areas are affiliated with social behaviour and imitative learning til now these areas have deficits in autistic individuals (Locoboni & Mazziotta, 2007). In one study individuals with autism spectrum disorder showed significantly different electroencephalography (EEG) recordings of mirror neurons compared to a control group consisting of intelligent individuals (Oberman, Hubbard, McCleery, Altschular, Ramachandran, & Pineda, 2005).Similarly, schizophrenia is another disorder characterized by deficits in social communication, in particular of the nonverbal type. Research by Kato Y., Muramatsu, Kato M., Shibukawa, Shintani, and Mimura (2011) using magnetoencephalography recordings on the right inferior parietal cortex showed atypical mirror neuron activity in non-treated schizophrenia patients. Likewise, similar results were found in a study that tried and true mirror neuron activity using TMS, it was demonstrated that during actio n observation a reduction in motor facilitation occurs in schizophrenia patients (Enticott, Hoy, Herring, Johnston, Daskalakis, & Fitgerald, 2008). Clearly, communication impairments observed in individuals with autism and schizophrenia are influenced by the MNS.In conclusion, human social interaction is influenced by mirror neurons. Evidence supports this statement through research done on the involvement of the MNS in nonverbal communication, including facial expressions and hand gestures and verbal language. Research has also suggested that an impaired MNS negatively affects social interaction, which is exemplified in the cases of autism and schizophrenia.Taken as a whole, combining mirror neurons image in imitative behaviour and social interaction-the process through which humanness possibly acquire new social knowledge becomes evident. Additionally, the presence of mirror neurons in primates as well as humans provide evidence for the development of social interaction over the course of evolution. Thus, in order to further strengthen their existing relationship, future research should examine the co-evolution of mirror neurons and social interaction.