Philedelphia Essay Example | Topics and Well Written Essays - 500 words

Philedelphia - Essay Example Popularly known as the Global Exhibition of Arts, the culture associates with the manufacture of mine and soil products. The exhibition is the first most important universal Fair held in the United States, which took place on 10th May 1876 occupying a two hundred and eighty five acre tract of the Fairmount Park thus overlooking the river Schuylkill (Exhibition, 2012). The twenty seven year old German immigrant by the name of Hermann J. Schwarzmann had an opportunity to design the fairgrounds that he did exclusively. The ground hosted thirty seven nations and many industrial exhibitions which occupied over two hundred and fifty pavilions belonging to individuals (Exhibition, 2012). The exhibition attracted almost nine million visitors while the population of the United States was forty six million. The exhibition had a lasting accomplishment as there was the introduction of industrial Universal power in America. The industrial power concealed the potency and production of many industrialized nations. Philadelphia became the central city the industrial and cultural practices in America (Exhibition, 2012). The visitors attending the exhibition loomed the fairgrounds mostly from east by means of either horse-drawn trolley or the railway across the today Gerald Avenue Bridge (Exhibition, 2012). There was a glass and steel dome of the Memorial Hall on the Schuylkill river near the exhibition grounds whose flag- studded the towers of the major building grew as the wooded slope of Fairmount Park. The complete site and size of the structures are breathtaking in their natural setting (Exhibition, 2012). As advised, the visitors arrived from the Railway of Pennsylvania Depot recognized as the Parkside Avenue today. They were to arrive promptly for the opening at 9:00 AM, and they had to pay fifty cents for entrance

MAF307 EQUITIES AND INVESTMENT ANALYSIS Essay Example | Topics and Well Written Essays - 1000 words

MAF307 EQUITIES AND INVESTMENT ANALYSIS - Essay Example The strategic analysis of the group indicates that with continued development of new initiatives and business products, the group is likely to expand its client base by entering new markets. The company’s salary packing business continues to provide an annuity stream of income that further allows cross-selling of company’s other products such as leasing services. The company has a very strong balance sheet and cash flow position that gives it opportunity to choose inorganic expansion route. The company’s revenues from core activities experienced 12.6% to $161.50 million at the end of December 2012, with net profits rising over 19.3%. The company announced the gain in gross revenue and profit for the year June 2013 but a proposal from the Labour government shook company’s future earnings capacity causing the company’s share price to plunge by over 55% in the middle of July 2013. Background of Share Price Crash McMillan Shakespeare’s Finance gr oup share price almost halved since the government flagged changes to current laws of fringe benefit tax (FBT) that has created uncertainty in the markets. The company’s trading was suspended for a week and when it resumed trading the share prices crashed by over 48% to $7.99 wiping away almost $549 m of shareholders’ wealth from the markets (Australian Associated Press, 2013). Due to this reason the company’s management requested for an extension to halt trading which is viewed by many analyst as a desperate move by the management to avoid such huge amount of losses and save shareholders’ wealth from volatile and uncertain markets. The Australian Securities and Investment Commission have however rejected the company’s plea of halting trading. (Source: ASX, 2013) The company has criticised the government’s recent decision to tightening FBT guidelines especially on salary package and car leasing for the share price crash and uncertainty in ma rkets. The panic among the investors was evident since the proposed changes to FBT guidelines tighten fringe benefit taxes on salary packaging and car leasing. The investors in the market expected the revenues of the company to be adversely affected from the government’s decision since the company’s primary source of revenues is generated from car leasing and salary packages. This negative outlook on the company’ future earning capacity from the tightening of FBT created panic in the broader markets that led to overselling of company’s stocks in Australian Stock Exchange. Thus, it can be said from the above discussion that a chain of events starting from the government’s decision to tighten FBT guidelines, the same decision to adversely affect profitability of the company, negative sentiments among the investors in the market regarding company’s future, and huge sell of the Finance Group’s MMS stocks after a week’s inactive tra ding, ultimately caused the company’s share prices to plummet by over 55% in the mid of July 2013. Reasons behind Dramatic Price Change The company under observation derives almost 50% of its revenues from two major segments namely Asset Management and Group Remuneration Services. But from the analysis of financial statements of the company it is apparent that over 70% of its total earnings are generated from the revenues of group remuneration, which is almost three