http://www.nba.com/games/20100617/BOSLAL/gameinfo.html
Summary:
Lakers held off 2008 basketball champions as they win for the second time in a role. Winning the game 83-79. It was not easy, but much deserved for the Lakers. They have suffered a lot since Shaq left the team, and struggled since then. Especially Kobe, he had to carry the whole team on his shoulder, but it was worth it, because he won the Finals MVP 2010. Average price for a basketball at Staples Center is $90 and VIP is from $250,000-$450,000. Not to mention the Los Angeles Clippers plays at the Staples Center too. Making the arena one of the profitable arenas in the world.
Connection:
In Chapter 5, the chapter talks about the cash flow statement, operating activities, investing and financing activities. During a regular season of basketball and if the team manage to win the finals, the team will play roughly 114 games. That is a lot of Cash and Sales revenues. However, every business requires expense, and that includes the occasional gifts, employees, such as security guards and the clean up crew. The profit they make now is pure profit, but when Staples Center was first built in 1998, it cost $375 million. Many investors money would not get their investment money back for many years.
Reflection:
Staples Center have a positive impact on the community, because it is thanks to their money, the city of Los Angeles looks the way it does now. The arena also contributed by reuniting the entire California State together. Uniting the people with basketball. On a unrelated note, I like to congratulate the Los Angeles Lakers on such a wonderful season, winning the western conference and the NBA finals and hopefully Kobe will win one more, so he could tie with the greatest basketball player of all time, Michael Jordan.
Friday, June 18, 2010
Thursday, February 25, 2010
Chapter 3
http://www.businessweek.com/autos/autobeat/archives/2010/01/toyota_suspends.html
Summary:
Due to accelerator pedal malfunctions, Toyota is not only calling back approximately 2.3 million vehicles with potential problems, but suspending sales of certain models until engineers workout a solution to the problem. Due to minor and fatal accidents that have already happened, Toyota may have to extend their call back to Europe and Asia, which will worsen the situation that they are in. It is crucial to remain a quality leader in the automotive industry, as today's consumers main concerns are the fuel mileage and the safety rating, it will be difficult for the Japanese leader to rebuild their image once again.
Connection:
In chapter 3, we learned about steps of the accounting
Summary:
Due to accelerator pedal malfunctions, Toyota is not only calling back approximately 2.3 million vehicles with potential problems, but suspending sales of certain models until engineers workout a solution to the problem. Due to minor and fatal accidents that have already happened, Toyota may have to extend their call back to Europe and Asia, which will worsen the situation that they are in. It is crucial to remain a quality leader in the automotive industry, as today's consumers main concerns are the fuel mileage and the safety rating, it will be difficult for the Japanese leader to rebuild their image once again.
Connection:
In chapter 3, we learned about steps of the accounting
Tuesday, October 13, 2009
Chapter 2
http://www.bloomberg.com/apps/news?pid=20601087&sid=aDhVXr9oTkJE
Summary:
With the recession drawing to an end, the economy and many businesses are slowly starting to get back on its feet. Unfortunately this is not the case for McGraw Hill. McGraw is known for its education text books and financial services. However, the company also owns BusinessWeekly magazine. The company has been in a slump ever since the recession. The company's revenue fell more than 30% from $164.4million to $112.6million until September 2009. Now Bloomberg is seeking to buy the small section of BusinessWeekly from McGraw Hill, promising to rebuild the magazine and to transform it into best global business newsweekly.
Connection:
Reflection:
Personally, i believe BusinessWeekly will continue to be a liability. Unless Bloomberg is trying to be like Warren Buffett, magically renovate and improve the performance of the company, then selling it making millions. The downside to this buyout, is that there will be employees who will be fired or lay-offed, and at times like these, people cannot afford to lose their jobs. However, it is not up for me to decide what is best for both companies, and the negotiation of the two companies is scheduled to close on December first. which gives both companies plenty of time to rethink the deal.
Summary:
With the recession drawing to an end, the economy and many businesses are slowly starting to get back on its feet. Unfortunately this is not the case for McGraw Hill. McGraw is known for its education text books and financial services. However, the company also owns BusinessWeekly magazine. The company has been in a slump ever since the recession. The company's revenue fell more than 30% from $164.4million to $112.6million until September 2009. Now Bloomberg is seeking to buy the small section of BusinessWeekly from McGraw Hill, promising to rebuild the magazine and to transform it into best global business newsweekly.
Connection:
This relates to chapter 2 in two ways. Firstly is the profit margin ratio, a ratio that compares the net profit during an accounting period with the related revenues. However, according to Publishers Information Bureau, McGraw is clearly suffering from net loss for more than a fiscal period. Then why would a big company like Bloomberg want to buy a tiny section. I believe Bloomberg hopes that under their company name, BusinessWeekly will gain more popularity. Also the soon to be chairman of new BusinessWeekly, Norman Pearstine claims Bloomberg will transform the new division into best global business newsweekly, which hopefully will turn that net loss into a net income. Secondly, the buy out can be considered as a investing activity, it will ultimately affect the cash flow statement.
Reflection:
Personally, i believe BusinessWeekly will continue to be a liability. Unless Bloomberg is trying to be like Warren Buffett, magically renovate and improve the performance of the company, then selling it making millions. The downside to this buyout, is that there will be employees who will be fired or lay-offed, and at times like these, people cannot afford to lose their jobs. However, it is not up for me to decide what is best for both companies, and the negotiation of the two companies is scheduled to close on December first. which gives both companies plenty of time to rethink the deal.
Friday, September 11, 2009
Chapter 1
http://www.cbc.ca/canada/story/2009/09/15/white-collar-crime015.html
Summary:
The article I finished reading is about sentencing tougher jail time and penalties for criminals convicted of serious fraud targeting at white collar crime. Justice Minister Rob Nicholson plans to enforce mandatory penalties for frauds, allows the court to approve longer sentence if the case is serious and also give compensation for the victims, some who lost all fortune to fraud. Current law allows people who are convicted with fraud escape with only having to serve one sixth of their sentences. If this plan is passed by the house of commons, i believe it will extraordinary decrease frauds in Canada.
Connection:
In chapter 1, the two primary sources of funds are from creditors and investors. Hypothetically, a person is trying to scam investors and creditors by creating a company, a fake corporate profile and financial section. The crook can easily disappear without a trace, taking millions of hard earning from families, leaving them to file bankruptcy. But say if the scammer is caught and sentenced with six years in jail and a slap on the wrist. It is possible for the criminal to be released after only serving one year in jail, because of our tolerate and relaxed law. However, the scenario would be much different if our government have had passed the law. The criminal would be locked up for a longer period of time and the poor families would not have to file bankruptcy, because they received compensation from government.
Reflection:
Many voters online have voted "Too lax"(81%, 929). They find the law is still too soft on the criminals. In my opinion, i believe the law is in the middle of too lax and just right, because i agree with depending on the serverity of the case, different people, will get different sentenses. However, i think the jail time should be extended and a massive fine should be given.
Summary:
The article I finished reading is about sentencing tougher jail time and penalties for criminals convicted of serious fraud targeting at white collar crime. Justice Minister Rob Nicholson plans to enforce mandatory penalties for frauds, allows the court to approve longer sentence if the case is serious and also give compensation for the victims, some who lost all fortune to fraud. Current law allows people who are convicted with fraud escape with only having to serve one sixth of their sentences. If this plan is passed by the house of commons, i believe it will extraordinary decrease frauds in Canada.
Connection:
In chapter 1, the two primary sources of funds are from creditors and investors. Hypothetically, a person is trying to scam investors and creditors by creating a company, a fake corporate profile and financial section. The crook can easily disappear without a trace, taking millions of hard earning from families, leaving them to file bankruptcy. But say if the scammer is caught and sentenced with six years in jail and a slap on the wrist. It is possible for the criminal to be released after only serving one year in jail, because of our tolerate and relaxed law. However, the scenario would be much different if our government have had passed the law. The criminal would be locked up for a longer period of time and the poor families would not have to file bankruptcy, because they received compensation from government.
Reflection:
Many voters online have voted "Too lax"(81%, 929). They find the law is still too soft on the criminals. In my opinion, i believe the law is in the middle of too lax and just right, because i agree with depending on the serverity of the case, different people, will get different sentenses. However, i think the jail time should be extended and a massive fine should be given.
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