Introduction This report will critically analyse the Martin Smith: May 2002 case study focusing on the three investments opportunities. It will provide detailed analysis on the pros and cons of each of the investments and a recommendation will be proposed. When proposing the recommendation, the current situation of Newport Partners and Martin Smith, will be taken into consideration in order to explore the best possible transaction whilst eliminating as much risks. This report will also include a short summary of key points that were acquired while working on this assignment and whilst working in a group. Background on Case study Leveraged Buyouts refers to the takeover of a company predominantly financed by the issuance of debt usually in …show more content…
Newport are only able to acquire 40% stake upon paying $30 million which means the other shareholders may prove difficult for the private equity firm to implement their changes. As the price is attractive, Newport can expect to have competition from other bidders and may have to pay more than the initial price. Another risk is that the current CEO is strong-willed and does not work well with potential successors. Next, Rustica also presents risks such as the firm’s low capacity utilisation as well as the relative saturation of the market. Wildflower has the lowest risk compared to the other two as it is seen to be consistently growing, however it has a moderately lower level of financial strength compared to Rustica and Yellowstone Cattle Bank. As there are insufficient data and being that the three investments are from different industry, conducting an in depth financial ratio analysis will be difficult but nether less will still be done. Pilbeam ( 2010) mentions that financial ratios provide a useful summary of key financial data and enable a comparison to be made for the different …show more content…
It is mentioned that they ‘buy companies cheaply, leverage them heavily, live with the debt, and flip them to a market’ wanting to offer merges and acquisitions. (Hardymon, Lerner & Leamon, 2002) This is meant that since the offer price is the lowest Newport can get in and get out quickly and generate income as the company’s cash flow and potential growth is expected to increase in the years coming. The growth rate of the firm’s financial position of business provides a good rationale for leveraged
In “William Adrian BUTLER v. CITY OF PRARIE VILLAGE, KANSAS,” the plaintiff argues that he was unjustly fired from his position with the City of Prairie Village, Kansas after he testified in an arbitration hearing involving the city and one of its contractors. He reported rumors of employee thefts to his supervisors. After a couple of years, he reported that he was clinically depressed and asked that if he could work only 40 hours per week. In September of 1987, Butler was hired by the City as an assistant director in its Public Works Department.
On August 2, 2009, David Leon Riley who belong to the Lincoln Park gang in San Diego, California open fire with others on a rival gang member that was driving past them. They then got into Riley’s Oldsmobile and drove away. The police pulled over driving a different car on August 20, 2009 for having expired registration tags, because Riley was driving with a suspended driver’s license, the required police policy is for the car to be impounded. Before any car is impounded, the police are required to perform a inventory search to make sure it has all the components at the time of the search, to protect against liability claims in the future, and to find hidden contraband. Police found 2 firearms and arrested Riley for possession of firearms.
On November 1. 2017, 47-year-old man named Scott Ostrem walked into a Walmart in Thornton, Colorado and calmly opened fire on the customers shortly after 6 p.,m. Then left in a red Mitsubishi Mirage. Surprisingly, a Thornton Police Officer believes that the shooting was random and there was no motive found yet. Scott Ostrem is accused of walking into a Walmart in Denver on Wednesday of November 1, and fatally shooting a woman and 2 men.
The case People v. Smith was finally decided by the Supreme Court of Michigan in 1991. The case involved the defendant Ricky Franklin Smith whom pled guilty to breaking and entering and of being a habitual offender, fourth offense (People v Smith, 1991). The judge sentenced Smith to 6 to 30 years imprisonment for the Habitual Offender charge. Ricky Franklin Smith after sentencing requested to be resentenced because his juvenile record, which had been expunged, was considered by the judge for sentencing. The Michigan Court of Appeals agreed with the sentencing; however, when the case went to the Supreme Court of Michigan, they reversed the decision because the sentencing should not have been based on the defendant’s prior expunged juvenile record.
There is a publication ban on the names of the accused [father & stepmother] to protect the identity of the boy [son] involved in this case. In the Ontario Provincial Court House in Ottawa, Robert Maranger sentenced the accused [father] to 18 years of imprisonment after Robert Maranger found the accused guilty of torturing his son. Upon sentencing, Robert Maranger made the following statement in court: “I find it extremely difficult to fathom the horrific crime you have committed against your own son. The accused [father] has been convicted of aggravated assault, forcible confinement, failure to provide necessities of life, aggravated sexual assault, and three counts of assault with a weapon.
In September of 1961, a woman from District of Columbia had an intruder break into her apartment. While the invader of the home was there, they had taken her wallet, and also raped the woman. During the investigation of the crime, the police had found some latent fingerprints in the apartment. The police then established and processed the prints. The prints were then connected back to 16 year old Morris A. Kent.
People v. Smith, 437 Mich 293, 470 NW2D 70, 78 (1991) addresses public policy conflicts and balance as it relates to the juvenile justice process (Elrod & Ryder, 2014). The issue presented in People v. Smith (1991) by the Supreme Court of Michigan is whether the inclusion in the presentence investigative report of an expunged juvenile record, in this case of defendant, Ricky Franklin Smith, requires, under MCR 5.913, presently MCR 5.925(E), that Smith be resentenced (People v. Smith, 1991). The issue involved was that Smith argued that he should be resentenced due to the inclusion of the pre-sentence investigative report of his previously expunged juvenile record. In People v. Smith (1991), it is stated that, “The purpose of the court rule,
Scott Peterson was convicted of the murder of Laci Peterson and her unborn son, Conner Peterson. He has been on death row for over a decade as he tries to get his conviction appealed. Peterson and his family maintain his innocence, even participating in a docu-series titled, The Murder of Laci Peterson. This has caused quite a stir among viewers who now say they have doubts about his guilt. Could Scott Peterson been wrongfully imprisoned for so long because of circumstances he had no control over?
The legal action before the court is a case that describes conflict with the People v. Smith concerning the laws that expunge a young offender’s juvenile criminal record. The defendant was charged with unlawful entry onto property and with being a repeat offender of offenses that are in violation and punishable by law. It was determined by the court that Smith is a habitual offender and he received a sentence of imprisonment. Point in fact is the defendant made a guilty plea to charges of breaking and entering and being a repeat offender by his own admission. Smith’s attorney stated the ruling was put in place to protect the people living in society and to be an example in order to discourage others from perpetrating the same kind of illegal or dishonest behavior.
In 1982, at the age of 18, Marvin Anderson’s dreams of becoming a professional fireman had been taken away. He was in the fireman academy at the time he was convicted of robbery, sodomy, abduction, and rape. The victim of the rape reported that the rapist said, he “had a white girl” (Innocence Project, n.d.). Marvin never had a criminal record, but because a police officer only knew of one black man, who dated a white girl, so, he singled out Marvin Anderson (Innocence Project, n.d.).
As an observer, it has been noted multiple times that prosecutors seek to solve a case by any means necessary. But countless times it has been found that you also will use unreliable or faulty resources without having the proper evidence and right resources in order to make a closing statement. Your desperation to solve a case in a quick and timely matter is just proof that you will take anyone’s word before checking the validity and reliability of the first time informants often times taking note of his desperation and use this in order to seek entry way into a resolution. I stand before you today and acknowledge the weight you have on your shoulders to convict and solve a case.
In April 26, 1913 a young girl named Mary Phagan was found sexually molested and murdered in the basement at the pencil factory in Atlanta Georgia ,where she worked. Evidence was found near the girl which at first led the crime to be pinned on Newt lee, the night watchman at the factory, but the police quickly came to notice that it was a bad attempt by Jim Conley to cover up his own involvement. Jim Conley was the factories janitor, a black man and a will known drunk. Jim Conley then tried to pin the blame on Leo frank ,the Jewish owner of the factory. Without much evidence and the absurdity of Conley’s claims the police took hold to Conley’s statement.
Introduction The main objective of this particular case study is to assist Victor Dubinski, the current CEO of Blaine Kitchenware, decide whether or not repurchasing shares and changing the firm’s capital structure in favor of more debt could actually be benefit the company and its shareholders. Blaine Kitchenware is a small cap, public company who focuses on selling various different residential kitchen appliances. Up until this point, the company has only used cash and equity financing to acquire independent kitchen appliance manufacturers, and expand into foreign markets abroad. Given their excess cash and lack of debt, Blaine Kitchenware is considered to be “over-liquid and under-leveraged” (Luehrman & Heilprin, 2009).
Throughout history America has struggled with finding effective and ethical ways of punishing people for their wrong doings. Between the years of 1882 and 1968 the act of lynching was widely used to execute criminals and this time period was known as the lynching era. One newspaper article published by the Fort Worth gazette informs about the events of a crime and how lynching was used to punish the accused criminal. The second article consists of letters that were exchanged between the governor of Texas and the police sheriff, in which they discussed the legal action that was to be done to the criminal. This paper focuses on the shaping of America’s criminal justice system and how crime cases such as the Henry Smith case helped do just that.
Overall, the increased debt is justifiable as they are producing a lot more, but it does hinder their liquidity and ability to take on more debt. In 2015 the company had a gross margin at 30.8% which was higher than the industry. This is a good indication that the