10 US Education System Problems

Look at any major poll on American priorities, and education is near the top. A recent poll from the respected Rasmussen Reports indicated it was the fifth highest priority, and a major concern of nearly 60 percent of American voters. It is good that the American public is concerned about education, because the teaching of our children faces many issues. Here are 10 core issues facing the American education system. Politics Many of the crises and issues discussed below need a solution. However, our political system, from city councils to the state legislatures to the federal government, solutions are paralyzed by intractable, partisan gridlock. Politicians from both parties seem more interested in being right and placing blame on the other party. Democrats are fixated on more funding for schools, and while that would help, the education system needs reform, not just money. Republicans are intent on demonizing teacher unions, and ignore the reality that education reform encompasses a wide array of challenges, not just teacher benefits. Common Core State Standards The federal government introduced Common Core State Standards in 2010, and encouraged states to adopt it by providing federal grants to those states that agreed to enroll. The standards focus on improving basic English language and math skills. To date 46 states have enrolled, but progress has been mixed. Nevertheless, the standards are an attempt to address the sad reality that American students fare poorly when compared to European and Asian students. Most criticism of the standards cite a â€Å"one-size-fits all† approach. This is valid criticism. Hopefully, the federal government can continue work on the standards, perhaps making them a bit more flexible. However, there is much resistance to the standards by Republicans, many of whom claim standards to be the federalization of K-12 education. Perhaps there’s some truth to that, but the real question is, where have the states been these last 30 years while the system deteriorated? Technology New technology, from notebooks for every student to online learning, plays a role in education, and can be very helpful in testing and improving skills. However, it also exacerbates the issue of funding disparities. Schools rich in money can afford tablets and wireless access for all students, while poor schools struggle to keep the schools safe, maintained, and heated during winter. The result is growing inequalities in education opportunities, which poses a challenge nationwide improvement. School Safety With numerous recent tragedies where students died, a dedicated focus on school safety is understandable. However, too much security and control can make our schools seem like mini-prisons. In fact, former Attorney General Eric Holder expressed just that concern. Teaching vs. Learning Much focus on improving education involves holding teachers accountable for student achievements. Yet, more focus is necessary on improving how students learn, not how teacher educate. Grading Over-reliance on grades to assess progress and grade inflation are issues that take up too much of educators’ time. Many educators believe that grades poorly assess progress, yet precious time is squandered on emphasizing them rather than addressing other issues on this list. Classroom Size When budgets tighten, classroom sizes expand. While studies show that about 15 students per class is the maximum to ensure a good learning environment for teacher and student, many classrooms are bursting at the seam with more than 30 or 40 students. Family Environment While education reform often focuses on test standards, teacher accountability, and classroom size, a far larger factor looms over education reform. That factor is the family environment. What happens at home impacts a student’s ability to learn. While family environment is a broader social issue, how it affects students needs to be considered when discussing reform. Cheating There’s no question that student cheating is a problem. The only real question is what is worse: rampant cheating that goes undetected, or the apparently prevailing view among students that cheating’s not really a big deal. Distractions The time that school administrators, counselors, and teachers spend with students and students’ issues is precious. And yet, the government and society impose a smothering blanket of political correctness, school lunch nutrition standards, invasive security requirements, and a whole host of other issues that belong in the lawmaking and policymaking areas of government, not in the nations’ schools.

Hertz Corporation Free Essays

string(239) " Earnings from equity investment in SABMiller \(344\) 3,676 Net earnings attributable to noncontrolling interests 1,224 2,421 Net earnings 2,606 1,255 Provision for income taxes 1,382 \(1 \) Net earnings attributable to Altria Group, Inc\." ALTRIA GROUP, INC. (MO) 10-Q Quarterly report pursuant to sections 13 or 15(d) Filed on 07/26/2012 Filed Period 06/30/2012 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. We will write a custom essay sample on Hertz Corporation or any similar topic only for you Order Now 20549 FORM 10-Q (Mark One) y QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2012 OR ? TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from o Commission File Number 1-08940 Altria Group, Inc. (Exact name of registrant as specified in its charter) Virginia 13-3260245 (State or other jurisdiction of incorporation or organization) (I. R. S. Employer Identification No. ) 6601 West Broad Street, Richmond, Virginia 23230 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code (804) 274-2200 Former name, former address and former fiscal year, if changed since last report Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ? No ? Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T ( §232. 05 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ? No ? Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of â€Å"large accelerated filer,† â€Å"accelerated filer† and â€Å"smaller reporting company† in Rule 12b-2 of the Exchange Act. Large accelerated filer ? Accelerated filer ? Non-accelerated filer ? (Do not check if a smaller reporting company) Smaller reporting company ? Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ? No ? At July 16, 2012 , there were 2,032,833,474 shares outstanding of the registrant’s common stock, par value $0. 33 1/3 per share. Table of Contents ALTRIA GROUP, INC. TABLE OF CONTENTS Page No. PART I – FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited) Condensed Consolidated Balance Sheets at June 30, 2012 and December 31, 2011 3 Condensed Consolidated Statements of Earnings for the Six Months Ended June 30, 2012 and 2011 5 Three Months Ended June 30, 2012 and 2011 Condensed Consolidated Statements of Comprehensive Earnings for the Six Months Ended June 30, 2012 and 2011 7 Three Months Ended June 30, 2012 and 2011 8 Condensed Consolidated Statements of Stockholders’ Equity for the Year Ended December 31, 2011 and the Six Months Ended June 30, 2012 9 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2012 and 2011 10 Notes to Condensed Consolidated Financial Statements 12 Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 61 Item 4. Controls and Procedures 99 PART II – OTHER INFORMATION Item 1. Legal Proceedings 100 Item 1A. Risk Factors 100 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 100 Item 5. Other Information 101 Item 6. Exhibits 102 Signature Signature 103 – 2- Table of Contents PART I – FINANCIAL INFORMATION Item 1. Financial Statements. Altria Group, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (in millions of dollars) (Unaudited) June 30, 2012 December 31, 2011 Assets Consumer products Cash and cash equivalents $ Receivables 1,528 $ 3,270 256 268 Leaf tobacco 799 934 Other raw materials 184 170 Work in process 269 316 Inventories: Finished product 432 Other current assets 1,779 1,207 Deferred income taxes 359 1,684 1,207 468 Property, plant and equipment, at cost 607 5,143 Total current assets 7,131 4,750 2,512 2,131 Goodwill 4,728 2,619 Less accumulated depreciation 2,216 5,174 Other assets 12,098 6,486 Investment in SABMiller 5,174 12,088 Other intangible assets, net 5,509 472 1,257 31,494 33,385 3,012 Total consumer products assets 3,559 Financial services Finance assets, net Other assets 41 Total Assets $ 18 3,053 Total financial services assets 3,577 34,547 $ See notes to condensed consolidated financial statements. Continued – 3- 36,962 Table of Contents Altria Group, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Continued) (in millions of dollars, except share and per share data) (Unaudited) June 30, 2012 December 31, 2011 Liabilities Consumer products Current portion of long-term debt $ Accounts payable 600 $ 600 335 503 Marketing 581 430 Taxes, except income taxes 218 220 Accrued liabilities: Employment costs 110 225 Settlement charges 2,184 3,513 Other 1,217 1,311 Dividends payable 836 7,643 13,089 Long-term debt 841 6,081 Total current liabilities 13,089 Deferred income taxes 5,074 4,751 Accrued pension costs 1,139 1,662 Accrued postretirement health care costs 2,367 2,359 Other liabilities 606 602 28,356 30,106 1,764 Total consumer products liabilities 2,811 Financial services Deferred income taxes Other liabilities 119 3,141 30,239 33,247 33 32 935 Total liabilities 330 1,883 Total financial services liabilities 935 Contingencies (Note 11) Redeemable noncontrolling interest Stockholders’ Equity Common stock, par value $0. 33 1/3 per share (2,805,961,317 shares issued) Additional paid-in capital 5,647 Accumulated other comprehensive losses 5,674 24,334 Earnings reinvested in the business 3,583 (1,674) (1,887) Cost of repurchased stock (773,116,613 shares in 2012 and 761,542,032 shares in 2011) (24,969) (24,625) Total stockholders’ equity attributable to Altria Group, Inc. 4,273 3,680 2 3 Noncontrolling interests Total stockholders’ equity 4,275 Total Liabilities and Stockholders’ Equity $ 34,547 See notes to condensed consolidated financi al statements. – 4- 3,683 $ 36,962 Table of Contents Altria Group, Inc. and Subsidiaries Condensed Consolidated Statements of Earnings (in millions of dollars, except per share data) (Unaudited) For the Six Months Ended June 30, 2012 Net revenues $ 2011 12,134 $ 11,563 Cost of sales 3,878 3,825 Excise taxes on products 3,560 3,618 Gross profit 4,696 4,120 1,130 1,272 Marketing, administration and research costs Asset impairment and exit costs 37 3 Amortization of intangibles 10 11 3,519 2,834 Operating income Interest and other debt expense, net 586 Earnings before income taxes 572 (743) Earnings from equity investment in SABMiller (344) 3,676 Net earnings attributable to noncontrolling interests 1,224 2,421 Net earnings 2,606 1,255 Provision for income taxes 1,382 (1 ) Net earnings attributable to Altria Group, Inc. You read "Hertz Corporation" in category "Essay examples" (1) $ ,420 $ 1,381 Basic earnings per share attributable to Altria Group, Inc. $ 1. 19 $ 0. 66 Diluted earnings per share attributable to Altria Group, Inc. $ 1. 19 $ 0. 66 $ 0. 82 $ 0. 76 Per share data: Dividends declared See notes to condensed consolidated financial statements. – 5- Altria Group, Inc. and Subsidiaries Condensed Conso lidated Statements of Earnings (in millions of dollars, except per share data) (Unaudited) For the Three Months Ended June 30, 2012 Net revenues $ 2011 6,487 $ 5,920 Cost of sales 2,086 2,030 Excise taxes on products 1,907 1,918 Gross profit 2,494 1,972 596 671 16 1 Marketing, administration and research costs Asset impairment and exit costs Amortization of intangibles 5 Earnings from equity investment in SABMiller 1,295 293 Interest and other debt expense, net 5 1,877 Operating income 294 (223) Earnings before income taxes (155) 1,807 581 Net earnings 712 1,226 Provision for income taxes 1,156 444 Net earnings attributable to noncontrolling interests (1 ) Net earnings attributable to Altria Group, Inc. — $ 1,225 $ 444 Basic earnings per share attributable to Altria Group, Inc. $ 0. 60 $ 0. 21 Diluted earnings per share attributable to Altria Group, Inc. $ 0. 60 $ 0. 21 0. 41 $ 0. 38 Per share data: Dividends declared See notes to condensed consolidated financial statements. – 6- Table of Contents Altria Group, Inc. and Subsidiaries Condensed Consolidated Statements of Comprehensive Earnings (in millions of dollars) (Unaudited) For the Six Months Ended June 30, 2012 Net earnings $ 2,421 2011 $ 1,382 Other comprehensive earnings, ne t of deferred income taxes: Currency translation adjustments — 1 61 64 154 135 Benefit plans: Amounts reclassified to net earnings SABMiller: Ownership share of SABMiller’s other comprehensive earnings before reclassifications to net earnings Amounts reclassified to net earnings (2 ) 5 152 205 2,634 Comprehensive earnings Comprehensive earnings attributable to noncontrolling interests 140 213 Other comprehensive earnings, net of deferred income taxes 1,587 (1) Comprehensive earnings attributable to Altria Group, Inc. See notes to condensed consolidated financial statements. – 7- $ 2,633 (1) $ 1,586 Table of Contents Altria Group, Inc. and Subsidiaries Condensed Consolidated Statements of Comprehensive Earnings (in millions of dollars) (Unaudited) For the Three Months Ended June 30, 2012 Net earnings $ 2011 1,226 $ 444 Other comprehensive earnings, net of deferred income taxes: Currency translation adjustments — 1 39 32 (23) 78 (5) 1 Benefit plans: Amounts reclassified to net earnings SABMiller: Ownership share of SABMiller’s other comprehensive (losses) earnings before reclassifications to net earnings Amounts reclassified to net earnings (28) 112 1,237 Comprehensive earnings Comprehensive earnings attributable to noncontrolling interests 79 11 Other comprehensive earnings, net of deferred income taxes 556 (1) Comprehensive earnings attributable to Altria Group, Inc. See notes to condensed consolidated financial statements. 8- $ 1,236 — $ 556 Table of Contents Altria Group, Inc. and Subsidiaries Condensed Consolidated Statements of Stockholders’ Equity for the Year Ended December 31, 2011 and the Six Months Ended June 30, 2012 (in millions of dollars, except per share data) (Unaudited) Attributable to Altria Group, Inc. Common Stock (1) Earnings Reinvested in the Busine ss Accumulated Other Comprehensive Losses Cost of Repurchased Stock Non-controlling Interests Total Stockholders’ Equity $ 935 Balances, December 31, 2010 Additional Paid-in Capital $ 5,751 $ 23,459 $ $ (23,469) $ $ (1,484) 3 5,195 — — 3,390 — — 1 Other comprehensive losses, net of deferred income tax benefit — — — (403) — — (403) Exercise of stock options and other stock award activity — (77) — — 171 — 94 Cash dividends declared ($1. 58 per share) — — — — (3,266) Repurchases of common stock — — — — — (1,327) Other — — — — Net earnings Balances, December 31, 2011 (3,266) — — (1) 935 5,674 23,583 3 3,683 — — 2,420 — — — 2,420 Other comprehensive earnings, net of deferred income taxes — — — 213 — — 213 Exercise of stock options and other stock award activity — (27) — — 16 — (11) Cash dividends declared ($0. 82 per share) — — — — — (1,669) Repurchases of common stock — — (360) — (360) Balances, June 30, 2012 (1) ( 1,669) — — — — $ 935 $ 5,647 $ 24,334 — $ (1,674) (24,625) (1) Net earnings (1) Other (1,887) (1,327) 3,391 — $ (24,969) (1) $ 2 (1) $ 4,275 Net earnings attributable to noncontrolling interests for the six months ended June 30, 2012 and for the year ended December 31, 2011 exclude $1 million and $2 million, respectively, due to the redeemable noncontrolling interest related to Stag’s Leap Wine Cellars, which is reported in the mezzanine equity section in the condensed consolidated balance sheets at June 30, 2012 and December 31, 2011 , respectively. See Note 11. See notes to condensed consolidated financial statements. – 9- Table of Contents Altria Group, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (in millions of dollars) (Unaudited) For the Six Months Ended June 30, 2012 2011 Cash Provided by (Used In) Operating Activities Net earnings (loss) – Consumer products $ 2,311 – Financial services 110 Net earnings $ 1,962 (580) 2,421 1,382 Depreciation and amortization 113 121 Deferred income tax provision 299 132 (743) (344) (34) (24) (456) — Adjustments to reconcile net earnings to operating cash flows: Consumer products Earnings from equity investment in SABMiller Asset impairment and exit costs, net of cash paid IRS payment related to LILO and SILO transactions Cash effects of changes: Receivables, net 2 Inventories (12) 95 Accrued liabilities and other current assets (94) (251) Income taxes 130 (64) Accounts payable 5 58 Accrued settlement charges 58 (1,329) (1,398) Pension plan contributions (514) (209) Pension provisions and postretirement, net 85 122 Other 90 121 Financial services Deferred income tax benefit (1,270) PMCC leveraged lease charges 7 Decrease to allowance for losses 10) Other liabilities (income taxes) 1,437 Other (529) 490 — 505 (21) See notes to condensed consolidated financial statements. Continued – 10- 23 (85) Net cash (used in) provided by operating activities 479 Table of Contents Altria Group, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (Continued) (in millions of dollars) (Unaudited) For the Six Months Ended June 30, 2012 2011 Cash Provided by (Used In) Investing Activities Consumer products Capital expenditures $ Other (39) $ (3) (40) 1 Financial services Proceeds from finance assets 552 129 510 0 — Net cash provided by investing activities 1,494 Cash Provided by (Used In) Financing Activities Consumer products Long-term debt issued Repurchases of common stock (360) (575) (1,674) Dividends paid on common stock (1,589) Issuances of common stock — 29 Financing fees and debt issuance costs — (23) (133) (155) (2,167) (819) Other Net cash used in financing activities Cash and cash equivalents: Decrease (1,742) Balance at beginning of period (250) 3,270 Balance at end of period $ 1,528 See notes to condensed consolidated financial statements. – 11 – 2,314 $ 2,064 Table of Contents Note 1. Background and Basis of Presentation: Background At June 30, 2012, Altria Group, Inc. ‘s direct and indirect wholly-owned subsidiaries included Philip Morris USA Inc. (â€Å"PM USA†), which is engaged in the manufacture and sale of cigarettes and certain smokeless products in the United States; John Middleton Co. (â€Å"Middleton†), which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco, and is a wholly-owned subsidiary of PM USA; and UST LLC (â€Å"UST†), which through its direct and indirect wholly-owned subsidiaries including U. S. Smokeless Tobacco Company LLC (â€Å"USSTC†) and Ste. Michelle Wine Estates Ltd. (â€Å"Ste. Michelle†), is engaged in the manufacture and sale of smokeless products and wine. Philip Morris Capital Corporation (â€Å"PMCC†), another wholly-owned subsidiary of Altria Group, Inc. , maintains a portfolio of leveraged and direct finance leases. In addition, Altria Group, Inc. held an approximate 27. 0% economic and voting interest in SABMiller plc (â€Å"SABMiller†) at June 30, 2012, which is accounted for under the equity method of accounting. Altria Group, Inc. s access to the operating cash flows of its wholly-owned subsidiaries consists of cash received from the payment of dividends and distributions, and the payment of interest on intercompany loans by its subsidiaries. In addition, Altria Group, Inc. receives cash dividends on its interest in SABMiller if and when SABMiller pays such dividends. At June 30, 2012, Altria Group, Inc. ‘s principal w holly-owned subsidiaries were not limited by long-term debt or other agreements in their ability to pay cash dividends or make other distributions with respect to their common stock. Share Repurchases In October 2011, Altria Group, Inc. ‘s Board of Directors authorized a $1. 0 billion share repurchase program, which Altria Group, Inc. intends to complete by the end of 2012 . During the six and three months ended June 30, 2012, Altria Group, Inc. repurchased 11. 9 million shares (aggregate cost of approximately $360 million , and $30. 16 average price per share) and 2. 0 million shares (aggregate cost of approximately $66 million , and $32. 37 average price per share), respectively. As of June 30, 2012 , Altria Group, Inc. had repurchased a total of 23. million shares of its common stock under this program at an aggregate cost of approximately $688 million , and an average price of $29. 01 per share. The timing of share repurchases under this program depends upon marketplace conditions and other factors, and the program remains subject to the discretion of Altria Group, Inc. ‘s Board of Directors. Basis of Presentation The interim condensed consolidate d financial statements of Altria Group, Inc. are unaudited. It is the opinion of Altria Group, Inc. ‘s management that all adjustments necessary for a fair statement of the interim results presented have been reflected therein. All such adjustments were of a normal recurring nature. Net revenues and net earnings for any interim period are not necessarily indicative of results that may be expected for the entire year. These statements should be read in conjunction with the consolidated financial statements and related notes, which appear in Altria Group, Inc. ‘s Annual Report to Shareholders and which are incorporated by reference into Altria Group, Inc. ‘s Annual Report on Form 10-K for the year ended December 31, 2011. Balance sheet accounts are segregated by two broad types of businesses. Consumer products assets and liabilities are classified as either current or noncurrent, whereas financial services assets and liabilities are unclassified, in accordance with respective industry practices. During the second quarter of 2012, Altria Group, Inc. determined that it had not recorded in its financial statements for the three months ended March 31, 2012, its share of non-cash gains from its equity investment in SABMiller, relating to SABMiller’s strategic alliance transactions with Anadolu Efes and Castel that were closed during the first quarter of 2012. Because Altria Group, Inc. did not record these gains, it understated by $342 million, $222 million and $0. 11 earnings from equity investment in SABMiller, net earnings/comprehensive earnings, and diluted earnings per share attributable to Altria Group, Inc. , respectively, for the three months ended March 31, 2012. Additionally, Altria Group, Inc. understated its investment in SABMiller, long-term liability for deferred income taxes and total stockholders’ equity by $342 million, $120 million and $222 million, respectively, at March 31, 2012. There was no impact on net cash flows from operating, investing or financing activities for the three months ended March 31, 2012. Altria Group, Inc. assessed the materiality of – 12- Table of Contents Altria Group, Inc. and Subsidiaries Notes to Condensed Consolidated Financial Statements (Unaudited) these understatements in accordance with the Securities and Exchange Commission’s (â€Å"SEC†) Staff Accounting Bulletin No. 99 â€Å"Materiality† and determined that the impact was not material to Altria Group, Inc. ‘s financial statements as of and for the three months ended March 31, 2012. Accordingly, Altria Group, Inc. has determined that it is appropriate to revise its first quarter 2012 financial statements and has reflected this revision in the financial statements as of and for the six months ended June 30, 2012. Financial results for the three months ended March 31, 2012 reported in future filings will reflect this revision. Altria Group, Inc. ‘s chief operating decision maker has been evaluating the operating results of the former cigarettes and cigars segments as a single smokeable products segment since January 1, 2012. The combination of these two formerly separate segments is related to the restructuring associated with the cost reduction program announced in October 2011 (the â€Å"2011 Cost Reduction Program†). Also, in connection with the 2011 Cost Reduction Program, effective January 1, 2012, Middleton became a wholly-owned subsidiary of PM USA, reflecting management’s goal to achieve efficiencies in the management of these businesses. Effective with the first quarter of 2012, Altria Group, Inc. ‘s reportable segments are smokeable products, smokeless products, wine and financial services. For further discussion on the 2011 Cost Reduction Program, see Note 2. Asset Impairment, Exit, Implementation and Integration Costs. Effective January 1, 2012, Altria Group, Inc. adopted new authoritative guidance that eliminated the option of presenting components of other comprehensive earnings as part of the statement of stockholders’ equity. With the adoption of this guidance, Altria Group, Inc. is reporting other comprehensive earnings in separate statements immediately following the statements of earnings. Note 2. Asset Impairment, Exit, Implementation and Integration Costs: Pre-tax asset impairment, exit and implementation costs for the six and three months ended June 30, 2012 consisted of the following: For The Six Months Ended June 30, 2012 Asset Impairment and Exit Costs For The Three Months Ended June 30, 2012 Implementation (Gain) Costs Total Asset Impairment and Exit Costs Implementation Costs Total (in millions) Smokeable products $ 23 $ (12) $ 11 $ 16 $ 9 $ 25 Smokeless products 14 5 19 — — — General corporate — (1) (1 ) — — — Total $ 37 How to cite Hertz Corporation, Essay examples

Capacity Management for Freight Industry -Free Samples

Question: Describe about the Capacity Mangement for Freight Industry. Answer: 1. The costs which are relevant for Overland Trucking for adding two additional loads per week will be Fuel, Insurance Oil lubricants Tolls Parts and Small Tools Hourly Wages: drivers Trailer Pool Expense These costs are relevant because the company will have to bear additional costs if the additional loads were added to existing fleet. The costs which are relevant for Overland Trucking for adding two additional loads per week will be Fixed Insurance cost Security cost Salaries: Garage and office Accounting Fees Supplies and Computer maintenance. These costs are not relevant because the company will bear these costs even if the additional loads were not added. Adding these two loads will not make any change in these costs and hence they are irrelevant costs. 2. Given, Revenue: FHP offered revenue per mile including FSC and miscellaneous = $2.15 Expenses: Insurance = 0.06 Fuel = 0.78 Oil Lubricants = 0.01 Tolls = 0.01 Parts and Small Tools = 0.07 Hourly wages: Drivers = 0.44 Trailer Pool Expense = 0.02 Total Variable Expense = 1.39 Thus, Contribution per mile = Revenue Variable expense = $0.76 Total Contribution = no. of loads* miles per week* no. of weeks* Contribution per mile = 2* 1500* 52* 1.24 = 118560 Increase in contribution margin = 118560/ 15638480 *100% = 0.758% Thus if the fixed cost does not increase by a greater than the contribution margin then it makes sense to add the additional loads to the fleet. 3. The implications of expanding the fleet size are The company will have to raise debt to fund the additional loads and the current economic conditions are not favorable to raise debt. The routes suggested by FHP will be in new and unfamiliar environment for the Overland which can face issue with the terrain and new markets increasing unexpected costs. The Overland management might become inefficient with the sudden increase in the fleet size and newer routes and hence may not be able to handle the existing system as efficiently as it used to. Thus all the above factors are the risks involved in the expansion of Overland. 4. Given, Increase in fixed costs = 50000 Revenue from FHP per mile = 2.20 Contribution Margin = Revenue Variable cost = 2.20 - 1.39 = 0.81 Thus break even = Fixed Costs/ Contribution Margin = 50000/ 0.81 = 61728.39 miles The company needs to sign 5-year contract with FHP. Miles per year to be travelled = no. of weeks * miles per week = 52* 1500 = 78000 Total additional miles the company needs to travel = No. of years* miles per year= 5* 78000 = 390000 Additional income in 5 years = Contribution per mile * number of miles fixed costs = 0.81* 390000 -50000 = 265900 Additional income per year = 265900/5 = 53180 Increase in profitability = 53180/ 3681810* 100% = 1.444% 5. Given, Wage to independent contractor per mile = 1.65 Increase in fixed costs = 20000 Revenue from FHP per mile = 2.20 Contribution Margin = Revenue Variable cost = 2.20 - 1.65 = 0.55 Thus break even = Fixed Costs/ Contribution Margin = 20000/ 0.55 = 36363.63 miles The company needs to sign 5-year contract with FHP. Miles per year to be travelled = no. of weeks * miles per week = 52* 1500 = 78000 Total additional miles the company needs to travel = No. of years* miles per year= 5* 78000 = 390000 Additional income in 5 years = Contribution per mile * number of miles fixed costs = 0.55* 390000 -20000 = 194500 Additional income due to outsourcing per year = Contribution per mile * number of miles in one year fixed costs = 0.55* 78000 -20000 = 22900 Increase in profitability from FHP contract= 22900/ 3681810* 100% = 0.622% Thus, if the company is willing to add the loads for FHP contract it should use own trucks instead of independent contractors. 6 a. Over-land might choose independent contractors even if the variable cost is high because the company needs to invest additional amount in the purchase of the vehicles. The current economic conditions are not very favorable to incur a debt which will add burden to the balance sheet of the company. Also the current management feels that it is working to its full capacity and will not be able to manage the additional load ad it can affect the efficiency of the company. Thus in these cases they may want to choose independent contractors to take advantages of the contract and not affect the existing system. 6 b. The management will be indifferent between choosing independent contractors or owning it themselves if the net additional income from both the cases are equal. Over-land will incur a cost of 50000 if it purchases additional equipment for the contract. If the company also has to bear costs apart from the cost of procuring the equipment which reduces its net income from the contract from 53180 to 22900 then they will be indifferent to both options. Also if Over-land finds the indirect costs which have affected the overall net income of the company due to purchase and management of the new rigs and the net income after purchasing the rigs is same as the net income with independent contractors, it will be indifferent to both the alternatives. 7. The Landstar trucking Company uses independent contractors and hence the major expense incurred by the company is in renting the transport from the independent contractors J B Hunt Transportation Services on the other hand uses its own rigs and company drivers. Thus the major expenses for the company are purchasing the rigs and payment to the drivers. In case the economic demand is high, J B Hunt will produce higher profits as the contribution margin for the company is higher than the Landstar trucking Company. This is because the company owns the vehicle and can reduce the various expenses it incurs in running the vehicle whereas in case of independent contractors, the same is not possible as they have already fixed the rates and hence no economies of scale can be applied to it. The cost structure of Landstar trucking Company is less risky than the J B Hunt Transportation Services if the economic conditions are poor. This is because the company does not own any rigs and hence will not incur fixed costs when there is a low demand. Whereas J B Hunt Transportation Services owns the rigs and thus the fixed costs due to depreciation costs, employee wages, etc. will be high even if the demand is low. Thus it is riskier compared to The Landstar trucking Company. 8. Capacity of a firm is defined as the highest sustainable output rate. Thus for Over-land, the capacity is the maximum number of miles a rig can travel without drop in efficiency and incurring additional costs. The challenges Overlands management faces while defining and managing capacity are Mismatch of supply and demand: The company needs to estimate the number of rigs it requires to cater to the demand accurately as more number of rigs will lead to additional costs to the company whereas less number of rigs can affect the service level provided by the company. Linking capacity to decision making: Over-land management team should be able to closely link the existing capacity of the company to the various strategies and must consider the impact of capacity utilization in taking decision for future expansions. Expansion challenges of capacity: The management needs to decide when the company should increase its capacity. The company should take into account the various factors as increase in demand, cost of procuring new equipment, cost of debt, cost of choosing independent contractors, other alternatives and other challenges while deciding expansion. The capacity of the Over-land is the potential miles it can travel in a given time period. The company owns 90 trucks. In the year 2013, the number of miles travelled by all the Over-land trucks combined = 11250000. Thus each truck travelled mile per year = 11250000/ 90 = 125000 Actual capacity per week = 125000/ 52 = 2403.82 miles The company utilizes only 85 % of the potential miles per year. Thus the potential number of miles per year = 125000/ 0.85 = 147058.82. In one week, potential number of miles that can be travelled = 147058.82/ 52 = 2828.05 miles. Thus for one driver per rig the theoretical capacity will be 2828.05 miles Practical capacity = 0.85* 2828.05 = 2403.84 miles. References Capacity Mangement. (n.d.). Retrived from https://www.investopedia.com/terms/c/capacity-management.asp?layout=infiniv=5Eorig=1adtest=5E Capacity issues among challenges facing the freight industry. (n.d.). Retrived from https://www.cts.umn.edu/Publications/catalyst/2014/february/freightindustry J.B. HUNT TRANSPORT SERVICES, INC. (n.d.). Retrieved from https://www.sec.gov/Archives/edgar/data/728535/000143774914002605/jbht20131231_10k.htm

About a Boy Review Essay Example

About a Boy Review Paper Essay on About a Boy The name translated is not entirely correct, because About a boy means about a boy, ie not only about the 12-year-old Marcus, but also about his adult friend Will, 36 years old. These two people were able to help each other, and the Will, without realizing it, began to get used to (in a good way) to the presence of Marcus in his life. The boy lives with his depressed mother who deliberately brings it up so that it is no one else was not like: the now popular these films, then we watch old movies; Now everyone eats meat, so we vegetarians. On the opinion of his son did not care Will -. Unemployed man who lives on the income of his deceased father, looking for romantic adventure (which is coming up with his son to become a single father and join the club). Although these search led him to Marcus, who on the day they met accidentally killed a duck (later Markus will fear that his life will be held under the name Day of dead ducks, as in the movie Groundhog Day). In the novel, there is mention of the group Nirvana (I was surprised that only about this group was not footnotes) -. Well, then, no mustache. Bad idea. How about to wear the same clothes, hairdo and glasses, like everyone else? Inside you can have all sorts of oddities. Just change the outside. We will write a custom essay sample on About a Boy Review specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on About a Boy Review specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on About a Boy Review specifically for you FOR ONLY $16.38 $13.9/page Hire Writer I am very glad that read this book. Nick Hornby to rehabilitate himself in my eyes (: D) after his stupid book Slam Good English Literature, which, I think, is popular at home Hornby ..

Free Essays on Leaving The Nest

When you reach a certain age, you get a feeling of independence and you want to move out on your own. That’s a big step for one to take. You should be mentally mature, financially stable, and ready to set rules and boundaries for yourself and your home. And before you take that step, you should know there’s a big difference from living at home with your parents and living alone. When you make the decision to venture out on your own keep in mind, there’s a lot of responsibility that comes with it. You have to be mentally ready to live on your own. While living alone you are solely responsible for the bills you have, and the extra ones that you make for yourself. You have to learn to budget your money so that you have enough for your expenses, but also enough for emergencies and miscellaneous expenses. If you don’t have the mental will power to know that you just can’t splurge your money on meaningless things thenjhi you will be back at home faster than you picked up and left. However, when living at home with your parents the responsibility is very limited. You don’t have to worry about bills. The money that you have is your money to do whatever you please with it. When at home the responsibility falls on your parents. They are the ones who have to be mentally mature enough to budget the money and pay the bills. Another challenge of living on your own is feeding and providing the necessities for yourself. You must be the bread winner. It’s up to you to be financially stable enough to put food on the table, clothes on your back, and furniture in your home. No one will do these things for you anymore. You are the only responsible party involved when it comes to your own home. You finances are just that, yours. You decide what is done with them. On the contrary, living at home with mommy and daddy is far less stressful. All of the necessities are provided. The food, clothes, and even the furniture is given to you. ... Free Essays on Leaving The Nest Free Essays on Leaving The Nest When you reach a certain age, you get a feeling of independence and you want to move out on your own. That’s a big step for one to take. You should be mentally mature, financially stable, and ready to set rules and boundaries for yourself and your home. And before you take that step, you should know there’s a big difference from living at home with your parents and living alone. When you make the decision to venture out on your own keep in mind, there’s a lot of responsibility that comes with it. You have to be mentally ready to live on your own. While living alone you are solely responsible for the bills you have, and the extra ones that you make for yourself. You have to learn to budget your money so that you have enough for your expenses, but also enough for emergencies and miscellaneous expenses. If you don’t have the mental will power to know that you just can’t splurge your money on meaningless things thenjhi you will be back at home faster than you picked up and left. However, when living at home with your parents the responsibility is very limited. You don’t have to worry about bills. The money that you have is your money to do whatever you please with it. When at home the responsibility falls on your parents. They are the ones who have to be mentally mature enough to budget the money and pay the bills. Another challenge of living on your own is feeding and providing the necessities for yourself. You must be the bread winner. It’s up to you to be financially stable enough to put food on the table, clothes on your back, and furniture in your home. No one will do these things for you anymore. You are the only responsible party involved when it comes to your own home. You finances are just that, yours. You decide what is done with them. On the contrary, living at home with mommy and daddy is far less stressful. All of the necessities are provided. The food, clothes, and even the furniture is given to you. ...

STEP analysis and Market Segmentation Assignment

STEP analysis and Market Segmentation - Assignment Example The company manufactures its vehicles at 23 production and assembly plants in seven countries and sells them through 34 subsidiaries. The company operates through three business divisions: automobiles, motorcycles and financial services. The automobiles division develops, manufactures, assembles and sells passenger cars and off-road vehicles under the brands BMW, MINI and Rolls-Royce. It also sells spare parts and accessories. BMW and MINI brand products are sold in Germany through showrooms of BMW and independent dealers. The company sells passenger cars outside Germany through subsidiaries and independent import companies. The BMW is responsible for the manufacture products such as: BMW C1, BMW 1 series, BMW 3 series, BMW 5 series, BMW 6 series, BMW 7 series, BMW X3, BMW X5, BMW Z4, MINI, MINI Cooper, MINI Cabriolet and the Rolls-Royce Phantom. BMW's growth over the years had paid off from a boutique European automaker to a global leader in premium cars. Among their products, BMW's MINI Cooper is holding its own against more established rivals in the new car market. It is also one of the lowest depreciating models in terms of used car sales. It is for this reason that BMW has decided to increase its investment into the Mini. This is a wise move, since sustained demand, even after five years on the market, suggests that the model is a mini goldmine. It is unlikely that anyone predicted the success of the Mini Cooper when it was launched by BMW in 2001 - the revamped model has taken the European market by storm. Originally, BMW intended to produce 100,000 vehicles a year but given the high demand, an increased investment of GBP100 million has been set aside for Mini Cooper in 2005, taking the yearly production total to over 200,000 vehicles a year by 2007. After its 2001 launch, BMW hoped to sell 800,000 units of the current Mini in eight years. The Mini plant in Oxford, England, has been refurbished to boost annual capacity to 260,000 units from 200,000. The plant also will build a new variant, the Traveller station wagon, starting in late 2007, and the second-generation Mini convertible starting in 2008 (Ceferri and McVeigh, 18 Sept 2006). While sceptics argued whether it was the right move for BMW to launch Mini Cooper in 2001, the debate has now shifted towards whether the success of the Mini can continue into the future or whether it is just a fad, a little like Volkswagen's new Beetle, where sales fell dramatically after the initial consumer enthusiasm for the new model. BMW certainly thinks that its investment is well justified. The Mini's price point ranges between GBP11,000 to nearly GBP18,000, which pits the car against the popular Volkswagen Golf and Peugeot 307. Despite this, the demand for the model is generally high across the range with a UK waiting list for several models. Additionally, another key indicator with regards to the success of the model is the demand for it in the used car market, where its rate of depreciation is amongst the lowest of any vehicle in the UK. It is these metrics which must have given BMW the impetus to continue funding the development of the Mini. It is already very valuable to BMW, having surpassed all expectations in terms of popularity, and with its sales cycle having now run for four years with demand still riding high, BMW certainly seems onto a winner. In

The little school by Alcia Partnoy preface by Julia Alvarez Essay

The little school by Alcia Partnoy preface by Julia Alvarez - Essay Example "The little school" by Alcia Partnoy preface by Julia Alvarez The history reveals that most of the literature created during imprisonment attains the status of ‘master piece’ and ‘The Little School’ is one of them. Moreover, literary figures with their creative abilities give tough time to dictators even during their brutal regimes and leave everlasting images on history and literature. Deep observation and strong memory is considered an asset of any person. Alicia Partnoy proves in The Little School that she is not short of these qualities. From the first story of the novel, her kidnapping from the house, to the last story, she elaborated each and every detail of the event in artistic manners. She successfully points out the brutal aspects of the Dirty War. By utilizing her power of deep observation, she notices each and every incident during the course of her imprisonment; keeps them in her mind while using astonishing skill of memory and elaborated before readers after her release. â€Å"The guard’s shift was organized in three groups of four guards each† , the sentence shows her deep observation and memory. By giving a surprise to her admirers, she tells exact numbers of security guards in The Little School at different timelines of a day. By drawing a sketch of a security guard she writes, â€Å"Approximately 22 to 23 years old, 6 ft., 154 lbs., straight hairs, brown eyes, white complexion, regular features†