Bed Bath Beyond Cap Structure free essay sample

Bed Bath and Beyond Cash and Debt-to-total Capital While BBBYs balance sheet is strong, there are risks of having too much cash. Namely the risk of not attracting or keeping investors, because of their desire to maximize their returns. When an investor sees to much cash on the balance sheet, they may question the companys ability to manage their capital structure efficiently, and therefore question their ability to maximize shareholder value. While BBBY uses their cash for store growth and small acquisitions, they should also be focusing on using their cash to increase shareholder value. If BBBY were to use $400 million in excess cash and $636. 3 million in borrowed funds to repurchase its shares they would increase their basic earnings per share from 1. We will write a custom essay sample on Bed Bath Beyond Cap Structure or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 35 to 1. 41 and their diluted earnings per share from 1. 31 to 1. 37 (exhibit 2). If BBBY were to use $400 million in excess cash, and borrow $1. 27 billion to repurchase their shares, they would decrease their basic earnings per share from 1. 5 to . 70 and their diluted earnings per share from 1. 31 to . 72 (exhibit 2). Repurchasing shares with a 40% debt to total capital ratio would increase shareholder value, however repurchasing shares with an 80% debt to total capital ratio would significantly decrease shareholder value and therefore would not be advisable. Increasing debt increases shareholder value to a certain point. As this proforma shows, the point of diminishing return is somewhere between 40% and 80%. Capital Structure for Bed Bath and Beyond An analysis of a repurchase of stock for $400 million cash, and recapitalization to 80% debt-to-total capital by borrowing $1. 27 million reveals that BBBYs return on equity will be 113%, return on assets 61% and an after tax cost of debt of 28%. ROE is gt; ROA and ROA gt; after tax cost of debt. With the 80% debt-to-total capital structure ROE exceeds the other two capital structure scenarios of no debt and 40% debt-to-total capital. While all of this looks great there are other considerations. The household and personal products industries debt to total asset ratio is 34. 69% while BBBY debt to total asset ratio is at 44% ($1,270,000/$2,865,023). Increasing to this capital structure would also reduce shareholders earnings per share. BBBY will need to trade off business risk against financial risk. They operate in an industry with fairly low business risk however BBBYs operating leverage is high which ould indicate a higher than industry business risk if they are not cognizant of managing their fixed costs. In addition, BBBYs debt to total asset ratio is higher than their industry. Both of these indicate a high business and financial risk. If BBBY were to recapitalize to 80% debt to total capital it would only increase their financial risk and reduce shareholders earnings per share. Therefore the recommendation for a capital structure for BBBY would be to add more than the 40% debt to total capital but not more t han 80%.

An Inspector Calls †Theatre Essay

An Inspector Calls – Theatre Essay Free Online Research Papers An Inspector Calls Theatre Essay Introduction: This superbly crafted play by J.B Priestly ‘An Inspector Calls’ was written in 1945 and set in 1912. The play was written at the time of the Second World War. The specific setting is as the Titanic is to set sail for America. The world was also thinking about going to war with Germany for the first time. Life for the poor in 1912 was very insecure. There was a lack of a Welfare State, which didn’t help the poor. For women it was almost the same they were treated like they did not have a mind of their own and the dominant males controlled them. An example of this from the play is, â€Å"Oh- Gerald- you’ve got it- is it the one you wanted me to have?† (Act 1, P. 4) The play was structured well because it had dramatic and thrilling cliff-hangers one example is at the very end of the play when Mr. Birling receives a phone call form the hospital and he says, â€Å"That was the police. A girl had just died on her way to the infirmary- after swallowing some disinfectant†. The play was also set in real time like the classical Greek theatre, they believed a play should be set in real time. The several themes in the play are: treatment of women, love, jealousy, mystery/secrecy and sinning money/capitalism. To get these themes across to the world and show how 1912 was like in society then was Priestley’s purpose in writing this play. Section One- The Dinner Party: The opening scene of the play is in the dining room of the Birling’s house in Brumley, an industrial city in the North Midlands. An evening in spring 1912. Mr. Birling, Mrs. Birling, Sheila, Gerald and Eric are sitting around the dinning table discussing about Gerald and Sheila’s engagement. This suggests that the kind of lifestyle they have is very grand and that they are a close family. When the inspector arrives it is made dramatic by Mr. Birling asking questions about him and what he’s doing here, â€Å"An Inspector? What kind of inspector?† (Act 1, P.7) When the inspector enters the room his presents creates an impression of largeness and toughness. He also speaks carefully, and looks hard at the person he addresses which gives an uneasy feeling. The inspector shows a photograph of a young lady to everyone but Eric and Gerald. This builds the tension up a great deal because we now know that the photograph has something to do with them, but we don’t know quite what. Section Two Arthur Birling At the dinner party, Arthur Birling talks about how the Titanic is unsinkable and that Britain won’t go to war with Germany. He also talks about his knighthood, â€Å"I gather there’s a very good chance of a knighthood†. (Act 1, P.6) This reveals he is a proud and negative character of the play. Mr. Birling sackedEva Smith because she was one of the ringleaders of a strike over their pay. He shows no guilt on sacking Eva, the audience will respond by thinking he is insensitive and only cares about making money for himself. Arthur thinks his position is a high, powerful one because he is very bossy and thinks he can take charge of everybody else. Section Three- Shelia Birling Shelia feels a lot of remorse for Eva Smith being sacked she says, â€Å"I think it was a mean thing to do. Perhaps that spoiled everything for her.† (Act 1, P.14) Meaning that if Mr. Birling hadn’t of sacked her then she would have not committed suicide. The audience should respond better to Sheila because she is more considerate and will think she is the nice character of the play. At the end of Act One Sheila and Gerald arguing builds up the tension by Gerald begging Shelia not to tell the inspector what he did and Shelia tells him and laughs, â€Å"You fool- he knows†¦Ã¢â‚¬ . (Act 1, P.19) Meaning the inspector already knows what he did and keeps the audience in suspense making the audience wonder if he knows. More tension is added when she leaves the room and the door slowly opens and the inspector appears. Section Four- Gerald Croft When Gerald dumped Daisy by saying he is engaged to another woman and leaving her, the audience feels that it helped. The audience might think he treated Daisy badly because he went behind her back by saying he wasn’t seeing any other women. Section Five- Sybil Birling She is very concerned and apprehensive to people in poverty because she strongly thinks it is very wrong. The tension is built up at the end of Act Two by the inspector when he says he is waiting â€Å"to do my duty† (Act 2, P.35) and they are thinking what he is going to do. Eric enters and Mrs. Birling says, â€Å"Look inspector, you’re not trying to tell us that- that my boy- is mixed up in this-?† This makes us think that Eric might have something to do with this. Conclusion Yes I think that priestly is making a point and all the characters in the play are to blame. At the end of the play there is a phone call of a suicide. I think Priestly put it in to add a final suspension to the play. And it makes a very good cliff-hanger. Also to make us ask ourselves questions, and wonder what might happen next, so he’s leaving it to out imaginations. Questions like â€Å"Who was Inspector Goole? How did he know about the suicide?† Learn more about An Inspector Calls Research Papers on An Inspector Calls - Theatre EssayHonest Iagos Truth through DeceptionThe Fifth HorsemanTrailblazing by Eric AndersonInfluences of Socio-Economic Status of Married Males19 Century Society: A Deeply Divided EraBook Review on The Autobiography of Malcolm XThe Effects of Illegal ImmigrationAppeasement Policy Towards the Outbreak of World War 2The Masque of the Red Death Room meaningsWhere Wild and West Meet

Strategic Analysis of Proctor&Gamble Essay Example | Topics and Well Written Essays - 2250 words

Strategic Analysis of Proctor&Gamble - Essay Example The structure P&G adopted changed from a â€Å"Global Matrix† to a hybrid organizational structure. Roald Jean Degenalso termed it as â€Å"Front-Back Hybrid Matrix organization† structure. The structure focusses on two key areas in its operations; namely the customer markets designed on the front end and the end products designed on the back end. Therefore, it can combine both customer focus and responsiveness, and the global-scale economies together.P&G has four major divisions with each having a sub-division. These include Europe consisting of Middle East/Africa, Western Europe and Central Europe. North America has the United States/Puerto Rico and Canada. Latin America has Asia/Australia. Lastly, Greater China, with its headquarters at Singapore, has Northeast Asia, Australia and India/ASEAN.Baby care/family care, healthcare, snacks and beverage, beauty care /feminine care and fabric/homecare. The organization functions from an additional matrix across two parallel organizations. Key areas of focus here include finance and accounting, information technology, customer business developments, product supply, external relations, consumer and market knowledge, research and development, legal and human resources. There are unit managers charged with two responsibilities. These include looking after the product, as well as the other region. In this matrix structure, the power between different business units is balanced by reporting higher up in the hierarchy.

Comparative politics and governance Essay Example | Topics and Well Written Essays - 1750 words

Comparative politics and governance - Essay Example While the United States considers itself the original and best democratic nation, the institutions and basic structure of the government inhibit some of the foundational ideals of democracy. Younger democracies, like Nigeria and Spain, actually come closer to realizing representation of the citizenry. The small-scale direct democracy of classical Athens is often held up as the purest form of democracy. Each citizen in Athenian democracy had a vote, the simplest formulation of â€Å"One man, one vote,† a right which did not extend to women and slaves, and voted directly on issues, policy, and representation (Blackwell 2003). This original democracy is only truly practicable on small scales. With larger populations, such as the 300 million population of the United States (United States Census Bureau 2010), direct democracy is highly impractical, requiring voters to vote on representatives to act in their interests. The way these representatives are elected and represent the will of their constituents is the primary difference between democratic governments. In the United States, power is shared by three separate branches of government, designed to share and check one another to avoid concentration of power in any single branch of the government. The elected representatives of the legislative body are tasked with the crafting of legislation, funding, approving presidential appointments, and declaring war. Representatives of the two houses in the legislature are elected by voters in their district, unlike the president who is elected by electors who are themselves elected in the Presidential race (Leip 2008). On the surface, this may appear to be direct representation, but the United States has a two-party system of democracy, meaning that voters are more often voting for a political party rather than a candidate and his policy platform. Power in a legislative body is shared and wielded by political parties who, more often than not, can act in the best inter est of their party rather than the interest of the voters, regardless of the reasons for which they were elected. This system presents problems for a claim of a true democracy in several ways, one of which being the means by which candidates are selected to run for office in the first place. The political party helps raise funds to run the campaign, a control on who can run in the race before it even starts. Independent or third-party candidates rarely win an election because of the lack of political party support. When they do win, it is almost always because they have name recognition as an established political figure, such as Joseph Lieberman, who won his seat in the Senate as an independent after losing the Democratic primary in 2008 (Joseph I. Lieberman 2011). The voter has, basically, a choice between two candidates, two parties, which does not represent a real choice and may not truly represent the views of the voters. Another problematic aspect of a limited-party system is the gerrymandering of political districts. Once in power, political powers redraw districts to consolidate blocks of voters they know will vote for their party. In a way, this is â€Å"rigging† the election system such that the incumbent, or at least his or her party, is reliably safe in an election, which explains the

Epidemiology in Disease Control and Prevention

Epidemiology in Disease Control and Prevention The purpose of this discussion post is to briefly review the concepts of epidemiology in disease control and prevention. I will also define and apply the ecoscoial epidemiology paradigm to obesity in my community. Epidemiology means many things, but largely, it is the study of the health status in our community as determined by statistical information, probability and research (Nies McEwen, 2015). Community health nurses use the concepts of epidemiology any time the nurse conducts, collects or analyzes data regarding diseases in the community, or uses data to help identify at risk groups in the community (Nies McEwen, 2015). Our reading this week discussed a variety of epidemiological models, methods and approaches. The data collected through epidemiology can identify diseases and infections, and trace these illnesses down to a single cause. In order to identify and resolve illness, the epidemiologist must first identify the problem, detect possible causes of the disease and the disease itself; determine how the illness is spread and finally, classify how people in the community become susceptible to the disease (Nies McEwen, 2015, p. 70-72; Centers for Disease Control and Prevention [CDC], 2016). Ecosocial epidemiology is a newer concept and describes diseases from a macro-level; meaning the health and disease status for a community rather than illness in just one patient (Nies McEwen, 2015). An example of ecosocial epidemiology approach would be to discuss obesity in our community. In 2013, the American Medical Association (AMA) labeled obesity as a chronic disease; the WHO described obesity as an epidemic and reported that half-a-billion people in the world obese(Stoner Cornwall, 2014). Obesity may be caused by numerous factors, including genetics, socioeconomic status or lack of education on healthy eating. Obesity is typically accompanied by other comorbid conditions such as diabetes mellitus type II, hypertension, and cardiovascular disease. The cost of healthcare for obese individuals is typically more than a non-obese person. The private practice office I work in sees a fair amount of patients whose symptoms can be attributed to obesity secondary to poor diet and inc ome level. A community health nurse can examine obesity in the community from a macro-level perspective. As mentioned above, obesity can be connected to a persons socioeconomic meaning the lower a persons income or education level, the more at risk that person is for obesity (Bielemann, Santos Motta, Minten, Horta, Gigante, 2014). Individuals with lower income are more likely to consume cheaper, convenient foods with large portion sizes (i.e., fast food, frozen dinners, boxed meals, chips, etc). These food items are readily accessible and are typically higher in calories, sodium, fat and sugars. The larger portion sizes can be seen as more value for the dollar. Another study showed that even with the application of food health labels, lower socioeconomic groups are more likely to purchase these unhealthy foods and reported that food labels can be seen as unclear and confusing (Hankey, 2015). A community health nurse can collect and analyze data from the community through surveys, questionnaire s or interviews and compare the number of obese patients to their socioeconomic, education level and comorbid conditions. This data can be used to provide interventions and education to this at risk population. In conclusion, epidemiology is the study of health and disease of the entire community, and not one person. Ecosocial epidemiology looks at health and disease from a macro level and can incorporate multiple factors that may attribute to an illness.   Obesity in our community can be viewed from a macro-level, secondary to the multiple risk factors, including socioeconomic status, education and existing medical conditions. Understanding epidemiology is important to community health nursing as this information can assist the nurse in focusing on disease prevention and education for at risk populations. References Bielemann, R. M., Santos Motta, J. V., Minten, G. C., Horta, B. L., Gigante, D. P. (2014). Consumption of ultra-processed foods and their impact on the diet of young adults. Revista de Saà ºde Pà ºblica, 49, 1-10. http://dx.doi.org/10.1590/S0034-8910.2015049005572 Centers for Disease Control and Prevention. (2016). Public health series 101 Introduction to epidemiology. Retrieved from https://www.cdc.gov/publichealth101/epidemiology.html Hankey, C. (2015). Food and catering modifications for public health: chronic disease and obesity prevention. Medicine, 43(2), 135-138. http://dx.doi.org/10.1016/J.MPMED.2014.11.004 Nies, M. A., McEwen, M. (2015). Community public health nursing (6th ed.). St. Louis, MO: Elsevier Saunders. Stoner, L., Cornwall, J. (2014). Did the American Medical Association make the correct decision classifying obesity as a disease? Australasian Medical Journal, 7(11), 462-464. http://dx.doi.org/10.4066/AMJ.2014.2281

Essay examples --

Name: Deniz CALIK Section: PLSC 382R-01 Professor: Gregory Robinson Date: 12/16/13 How National Socialist Ideology Affected the World? When Germany was defeated in World War I, German emperor Wilhelm II left the throne and the new republic was founded which is called Weimar Republic. Germany passed from monarchy to republic however the problems were not vanished. That is when the National Socialism first appeared. There was unemployment, poverty and inflation and the national socialists claimed that the democratic institutions, communists and incapable politicians were to blame. These national socialists established a political party called Nationalsozialistische Deutsche Arbeiterpartei (National Socialist German Workers' Party). Their leader was Adolf Hitler. They were anti-capitalist, anti-Marxist, ethnic nationalist, extremely rightist, racist. In politics they were extremely nationalist and in economics they were socialists. The members of the party wore soldier uniforms and behaved as if they were soldiers. By placing their socialist ideology forefront, they became the most and the only power in Germany officia lly. As the time flew, they caused one of the most bloody and brutal wars in history. The Great Depression had also affected Germany. The existing problems came to foreground more than ever. Hitler was seen as a solution for the existing problems according to the general opinion. Thus, the president Paul von Hindenburg assigned Adolf Hitler as the prime minister in 1933. A few months later, in 5 March 1933 the National Socialist German Workers Party polled the 43.9 % of the votes and guaranteed its position as the only party in power. National Socialist principals and its ideas supp... ...Germany but affected whole world, changed political and social structure. In Germany, it created hostility towards Jews and other people who are non-Aryan. Nazi party members killed a lot of people in order to create an Aryan race. They have made various experiments on them, forced them to work until they die, made them live in inhuman conditions and exposed them to numerous other kinds of tortures. National Socialists were deeply committed to the ideology that they could murdered numerous of innocent people without a second thought and accepted the thoughts and orders of their leader blindfold. If National Socialist ideology`s consequence were not that serious, human rights issue would not gain so much importance globally. World War II can be the best and obvious example of how an ideology can conquer mass amounts of people’s minds and reshape the world deeply. Essay examples -- Name: Deniz CALIK Section: PLSC 382R-01 Professor: Gregory Robinson Date: 12/16/13 How National Socialist Ideology Affected the World? When Germany was defeated in World War I, German emperor Wilhelm II left the throne and the new republic was founded which is called Weimar Republic. Germany passed from monarchy to republic however the problems were not vanished. That is when the National Socialism first appeared. There was unemployment, poverty and inflation and the national socialists claimed that the democratic institutions, communists and incapable politicians were to blame. These national socialists established a political party called Nationalsozialistische Deutsche Arbeiterpartei (National Socialist German Workers' Party). Their leader was Adolf Hitler. They were anti-capitalist, anti-Marxist, ethnic nationalist, extremely rightist, racist. In politics they were extremely nationalist and in economics they were socialists. The members of the party wore soldier uniforms and behaved as if they were soldiers. By placing their socialist ideology forefront, they became the most and the only power in Germany officia lly. As the time flew, they caused one of the most bloody and brutal wars in history. The Great Depression had also affected Germany. The existing problems came to foreground more than ever. Hitler was seen as a solution for the existing problems according to the general opinion. Thus, the president Paul von Hindenburg assigned Adolf Hitler as the prime minister in 1933. A few months later, in 5 March 1933 the National Socialist German Workers Party polled the 43.9 % of the votes and guaranteed its position as the only party in power. National Socialist principals and its ideas supp... ...Germany but affected whole world, changed political and social structure. In Germany, it created hostility towards Jews and other people who are non-Aryan. Nazi party members killed a lot of people in order to create an Aryan race. They have made various experiments on them, forced them to work until they die, made them live in inhuman conditions and exposed them to numerous other kinds of tortures. National Socialists were deeply committed to the ideology that they could murdered numerous of innocent people without a second thought and accepted the thoughts and orders of their leader blindfold. If National Socialist ideology`s consequence were not that serious, human rights issue would not gain so much importance globally. World War II can be the best and obvious example of how an ideology can conquer mass amounts of people’s minds and reshape the world deeply.

Arthur Miller ‘s presentation Essay

By focusing on three or four scenes, examine Arthur Miller ‘s presentation of John Proctor’s moral journey. A crucible is defined in the dictionary as ‘a severe test or trial’. Throughout this play, John Proctor’s morals and beliefs are challenged to a great extent as we watch his character develop and admire his strength to do what is right whatever the consequences. A moral journey is the development of someone’s morals and beliefs as they are tested by certain situations and react to them in different ways. I wouldn’t say it was a mapped out journey, more one that is likely to change without warning. Salem was a very religious and close-knit community. The strict creed meant that its inhabitants lived very monotonous lives and continuously feared doing wrong by God. Many people found they could not live with the pressures forced upon them by the church as religion was preached so vigorously and people were discouraged from forming their own opinion on life. This caused the community to become very repressed. The way everyone reacted to the accusations of witchcraft stem from this. People suddenly became very paranoid of everybody else’s actions and also became suspicious that they may be a witch. They also used the right to call somebody a witch as vengeance. The fact that Proctor was willing to go against the church and the rest of the community to follow his views of descent conduct makes him stand out. I will be studying several extracts of the play to illustrate Proctor’s moral journey. John Proctor is often seen as the main character in the play and the first point where we are given any information about him is in the early stages of Act 1. Here, Miller directly intervenes and provides us with a lengthy passage on John Proctor giving us information on his background and character. This is essential, as otherwise, we have no knowledge of his values before he enters the stage. Miller’s script: â€Å"But as we shall see, the steady manner he displays does not spring from an untroubled soul. He is a sinner, a sinner not only against the moral fashion of the time, but against his own vision of descent conduct. † This quote also backs up the idea that John does not need to be punished for sins he has committed, as he is his own worst critic. At first Miller portrays him in a harsh light. When he enters in the first act, he reprimands his servant for not being at home helping Elizabeth and orders her to go immediately. The stage directions here allow us to see the effect of John on others. He obviously has a sense of authority as Miller describes Mary Warren’s reaction when he enters the room as follows: ‘She can barely speak for embarrassment and fear’ After the departure of Mary, John is then left alone with Abigail and Miller presents us with a scene full of hurt, desire and tension. Abigail is a very useful character when analysing John’s morals. She is very manipulative and tests his will power to reject her. John, at first, is not aware of Abigail’s determination to win his love. He says impulsively some things that Abigail interprets in her own, yet wrong, way. She then seems very confident about what she is saying and feels she is being lead on. Proctor: â€Å"Ah, you’re wicked yet, aren’t y’! (A thrill of expectant laughter escapes her, and she dares come closer, feverishly looking in his eyes)† The stage directions at this point are very important, as they are essential in the understanding of how Abigail is feeling. After this move of Abigail’s, John realises that she is serious and is still holding hope for him. He decides to put this right by making it quite clear to her that he is not willing to continue their relationship. Proctor: â€Å"Abby I may think of you softly from time to time but I will cut off my hand before I reach for you again. † This shows that Proctor has learnt from his mistakes and although he is tempted, he is not willing to commit the same sin again. This is quite extreme for him to state and shows that he is serious about what he is saying. It is also evident from the stage directions that John is ‘(angered-at himself as well). ‘ This shows that he has admitted to himself that he was wrong and now he is feeling guilty and angry with himself for all the trouble he has caused in his relationship with Elizabeth. The stage directions are very powerful in this extract as they show the characters emotions and they explain the situation well. This extract shows a very important part of John Proctor’s moral journey as he manages to resist Abigail’s advances. It must have taken a lot for him to do this, as it would be hard both mentally and physically for him. This shows how his character is starting to develop as he has learnt from previous experiences and is beginning to face and correct his sins rather than just ignoring them. The next extract I will be examining is in the early parts of Act two. This is set eight days on from the last scene and there is a very different atmosphere. Instead of passion and heat, this scene is awkward and tense. It shows how Proctor is not being honest with his wife, Elizabeth, and instead there is a lot of pretence. This is an important time in Proctors moral journey as it shows us how he is coping with his relationship with Elizabeth. It is evident that Proctor is still in denial and is not facing up to his actions. He doesn’t realise that the lies and secrets he is keeping will affect so badly what happen in future events. At the beginning of this Act, Miller sets the scene effectively using stage directions. He describes the room as ‘low, dark, and rather long living-room of the time’. This immediately changes our mood and calms us down in anticipation of a more sombre and serious scene. In this scene dialogue, as well as stage directions, play a very important part in portraying the characters feelings. The stage directions especially help us to interpret how certain lines should be said (as this is a play) and how characters should act. Proctor is not truthful to Elizabeth in this scene. He firstly lies about his interview with Abigail as he feels she won’t understand. He tells her that he has been working on the farm in hope that he will sympathise with him. This is part of his moral journey as it shows he is still in denial and feels that time will sort his problems out. He is prolonging the consequences of his actions that he knows one day he’ll have to face.