Corporate Group Structures Essay Example | Topics and Well Written Essays - 5500 words

Corporate Group Structures - Essay Example The discussion will commence with a brief overview of the background of company law, specifically the concept of a company as a separate, autonomous corporate individual. Then the most significant cases in the current state of corporate group structure and liability will be considered: These are a triumvirate of cases involving Cape Industries Plc. Subsequently, analysis of these decisions and their application and interpretation in the last decade will be examined as well as criticism of these three cases will be entertained. This portion of the discussion will expand beyond issues of case law and take an holistic approach to corporate group structure by considering issues such as corporate social responsibility (CSR) and the ethical implications of corporate group structures. Aron Salomon incorporated his boot-making business in 1892. Salomon Co. quickly became insolvent. A series of court cases and appeals took the case to the House of Lords ruling that Salomon Co. and Aron Salomon were not one and the same, â€Å""The very object of the creation of the company and the transfer to it of the business is, that whereas the liability of the partners for debts incurred was without limit, the liability of the members for the debts incurred by the company shall be limited,† concluded the House of Lords.4 No individuals could be held liable for the debts of Salomon Co., a separate, legal, corporate entity. This case was based on the Companies Act 1862 that clearly established the corporation as a separate legal entity. Salomon v Salomon Co. established that this was the legal situation even if one individual was a majority owner and principally responsible for the direction of the corporation also. According to Villalta Puig Gonzalo, â€Å"The case firmly established that upon incorporation, a new and separate artificial entity comes into existence.... a corporation is a distinct person with its own personality separate

Casino taxes Essay Example | Topics and Well Written Essays - 750 words

Casino taxes - Essay Example Casino taxes The basic casino gaming tax laws which are to be followed by all states including Nevada and New Jersey are the following: Winnings from all types of gambling are taxable and should be declared as income on the tax return, while the losses from gambling are to be deducted as an itemized deduction for the spare time players, restricted to the amount of winnings declared. Players who are professional gamblers must hold a file as self-employed business using Schedule C. Schedule C is an Internal Revenue Service form used to file profits and losses by a company (What is Schedule C, 2011). The worth of comps received is considered as gaming winnings and are included in the total winnings. Though, the person is allowed to deduct the losses to counterbalance the income from the comps. The winnings and losses are reported only in the year of occurrence. Excessive losses are not to be carried forward or backward to balance winnings in other years. Married couples who file a joint return shou ld combine their winnings losses, and account only one figure for both. According to the instructions issued by IRS, lumping is unacceptable. Lumping is either reporting only one final win figure and no losses, or reporting nothing if the net value from gambling is a negative. A person must report total of the winning sessions individually from the total of the losing sessions. The Internal Revenue Service requires an accurate record to be maintained to substantiate ones wins and losses. The records must contain at least the following information: the date and type of person’s particular wager; the name of the gaming organization or establishment with its location and address; the names of the other people, if any, present with the player; the amount the person won or lost. A report containing wagering tickets or receipts; W-2Gs; credit card records such as cash advances; cancelled checks; receipts provided by the gambling establishment and bank withdrawals is also require by the IRS to substantiate a person’s diary. A person does not submit these records with return but will be needed if the person is to be audited. As casinos and card rooms are subjected to the money-laundering rules therefore they must report cumulative cash transactions of ten thousand dollars or more in one day to the IRS. They can also make out such reports for amounts as low as two thousand dollars if they are doubtful and apprehensive. Once a casino has a person’s SSN and ID on record, they may issue these Cash Transaction Reports (CTRs) without his/her knowledge. Though the basic rules of casino gaming taxes are almost the same for every state but there are some differences as well. The revenues generated from the taxes in Nevada are used by the local governments and state general fund. In New Jersey the casino revenues provide financial assistance to the disabled and elderly. (State Tax Systems: recreational gambling, 2010) Casino gaming taxes in Nevada: A licens e fee is imposed at both local and state level. The range of County license fees is from $10 to $50 per month, whereas, the range of State monthly license fees is from 3% to 6.25% of the gross revenues. Range of Annual state license fees is from $100 to $6,000 for each year depending on size of the organization. Annually, an additional $80 fee is imposed on every slot machine for an unrestricted state license. Quarterly fee ranges from $45 to $225 plus 90 per machine for a restricted state licence fee (Rafool, 2004). Annually, $ 250 tax is imposed each slot machine. Casino entertainment tax equals to 10% of amounts

Does Cohabitation build a stronger, more successful marriage Term Paper

Does Cohabitation build a stronger, more successful marriage - Term Paper Example This means that experience of children with cohabitation should stay fairly low, cohabitation should often switch into marriage, and the standard length of a phase of cohabitation should be quite short (Manning 1995). Even though Casper and Bianchi (2002 as cited in Heuveline & Timberlake 2004) differentiated between antecedent to marriage and ‘experimental’ marriage founded on the encouragement of individuals cohabiting in relation to marriage, some researchers differentiate this form of marriage, on the basis of the definite decision to marry and bear a child. Cohabitation is a phase in the process of marriage instead of a preface to marriage when live-in couples who make a decision to have a child fail to sense firmly the accurate timing and order of marriage and childbearing (Brown & Booth 1996). Hence, cohabitation does not necessarily build a stronger or successful marriage. My report makes the following recommendations: If you feel strongly or solemn about marriag e you should perhaps decide not to enter cohabitation before marriage. (1) If ever you decide to cohabit prior to marriage it would be sensible to have a definite knowledge of or plan for your relationship. If either or both of you is/are reluctant to plan about your relationship then it is time to rethink the decision to cohabit. It is better to end a relationship than to cohabit without a definite plan for the future. (2) Marriage is evidently a strong foundation for couples. It is important to have legitimate children. The absence of a committed and stable relationship will put the children at great risk. Definition of Cohabitation Cohabitation is broadly defined as couples living together in a set up similar to married couples (USLegal 2011, para 1). Statutes differ in their definition of cohabitation. A number of state laws declare cohabitation a component of adultery which makes it a criminal offense (ibid, para 1). Cohabitation is defined in one state law as ‘regularly residing with an adult of the same or opposite sex, if the parties hold themselves out as a couple, and regardless of whether the relationship confers a financial benefit on the party receiving alimony. Proof of sexual relations is admissible but not required to prove cohabitation’ (USLegal 2011, para 1). However, Georgia’s law identifies cohabitation as ‘dwelling together continuously and openly in a meretricious relationship with another person, regardless of the sex of the other person’ (ibid, para 1). Popularity of Cohabitation A widespread social pattern of the recent decades is the increase in cohabitation and the drop in marriage. A large number of couples are happy to cohabit (Goodwin et al. 2010). Cohabitation has increasingly been accepted by the society even though it opposes the most basic principles of Christianity. Present-day society rarely differentiates between married couples and cohabiting ones (Manning 1995). Prevalence of Cohabitation Roughly 9% were found in 2002 to be cohabiting, which is identified in the report of Goodwin and colleagues (2010) as an unmarried woman and man living together, while ‘46% of women aged 15-44 were currently married’ (ibid, p. 2). The popularity of marriage is higher among non-Hispanic White women and men than those of non-Hispanic black. Figures for Hispanic women and men

Nike Inc Essay Example | Topics and Well Written Essays - 1500 words

Nike Inc - Essay Example According to the report in terms of behavioral segmentation, the product is target to the loyal customers. The product is priced at $149, which makes the product a luxury product. The product would therefore not greatly appeal to the price sensitive consumers and they may look for the same product offered by cheaper brands. Since the product is more of a luxury than a necessity, the price sensitive consumer would be generally not attracted towards the product.This paper discusses that  product development strategy is best suited. This is because the product is new, with a few modifications from the first generation Fuel Band but the market remains the same. With this product, Nike is and should continue to target its existing consumers which are sports loving people who live and enjoy an active lifestyle. They are mostly high-end sophisticated consumers to frequently and even occasionally consume luxury products such as the Fuel Band.  In terms of the environmental uncertainty Ma trix, the product is positioned as high uncertainty. Products positioned in this area of uncertainty have the following characteristics: dynamic and unpredictable market; involves many components; requires high skills and knowledge.   Since the Nike Fuel Band fits in all these areas, it faces high uncertainty in the market.  In terms of competition, the company faces competition from mainly three other products: Jawbone UP, Fitbit Flex and Basis.... This is because the product is new, with a few modifications from the first generation Fuel Band but the market remains the same (Kelion, 2013). With this product, Nike is and should continue to target its existing consumers which are sports loving people who live and enjoy an active lifestyle. They are mostly high-end sophisticated consumers to frequently and even occasionally consume luxury products such as the Fuel Band (Sherman, 2013). The product, Fuel Band, in this case is a relatively new product. Nike had released the first generation of Fuel Band in the beginning of 2012 but a more modified version was developed in the end of 2012 known as the Nike + Fuelband (Nike Inc., 2012). Environmental Uncertainty In terms of the environmental uncertainty Matrix, the product is positioned as high uncertainty. Products positioned in this area of uncertainty have the following characteristics: dynamic and unpredictable market; involves many components; requires high skills and knowledge. Since the Nike Fuel Band fits in all these areas, it faces high uncertainty in the market (Robbins and Coutler, 2007). Competitor analysis In terms of competition, the company faces competition from mainly three other products: Jawbone UP, Fitbit Flex and Basis. A general comparison of the features of these products is shown below: Feature Fuel Band Jawbone Fitbit Flex Basis Price 149 130 100 200 Battery Time (in Days) 1-4 10 5 4 Compatible Applications 3 10 27 0 Blue Tooth Yes No Yes Yes Water Proof No No No No Water Resistant Yes Yes Yes Yes Unique Features Calories, Time, Steps, Nike Fuel and Daily Progress Vibrating Alarm Vibrating Alarm Pulse, Sweat and Temperature Compatible With iOS and Web iOS and Andriod iOS,

How Samsung Electronics has established its current presence Assignment

How Samsung Electronics has established its current presence - Assignment Example Previous concentration fields include mobile privacy, Internet of Things, clouding communication, and human interface. Businesspersons and inventors will achieve access to Samsung’s distinct ecology and capital. Intense connections inside Samsung’s institutional network both in Asia and across the globe will be required to face the next round of rivalry in the electronics segment. Asia has a fundamental destination for Samsung’s direct investment for several reasons. The company objectives and goals include recovering cost competitiveness by using the low-priced capital accessible in Southeast Asia. Samsung as well is interested in pursuing various chief consumers for its components as some of the world’s most active market. But the weakness of Samsung’s performance in the consumer products segment means that it has established itself with surplus capacity in its offshore affiliations. In reality, this means that the overseas associates are underuti lized, despite the skill to enhance cost competitiveness, since Samsung’s worker assessment structure is slanting towards performance at the plant status (Mortinik, 2012). According to Bloom (2002), Koreans electronics corporations have been assertively engaged in culture and knowledge accumulation over the past two decades. Their consumer products, including color television sets (CTVs), videocassette records (VCRs), and microwave ovens, were capable to remain competitive in the low-end sector of the global markets till the late 1980s. As a result, this created the cash flow required to endorse of more improved technologies. In the current years, nevertheless, Korean products are achieving growing rivalry, especially from Japanese manufacturers that have recuperated their competitiveness by investing in low-priced overseas manufacturing. Growing offshore manufacturing has been a chief part of Korea’s tactic reaction. Korean products channels in Asia now go beyond the ASEAN region to China and India. The overall percentage of offshore production to total production has grown tremendously in current years, from nineteen percent to twenty-seven percent for CTVs from sixteen to seventeen percent for VCRs during the phase 1922-1994. Nevertheless, those of the Japanese electronic competitors grew even rapidly, from 67 percent to 86 percent for CTVs and from 36 to 71 percent for VCRs during the same phase. This as a result kept the rivalry deep in the cost-fueled struggled for low-end markets. In the year 1993, three chief Korean manufacturers, Goldstar, Samsung and Daewoo, declared their objective to expand their offshore production quotient from a standard of 20 percent in 1993 to 60 percent by 2000. This paper will focus on how Samsung has managed to maintain its international presence. The firms involved are all components of Samsung Group, an exceedingly diversified multinational. The key electronic manufacturer is Samsung Electronics Co. SEC and its liaison corporations are Samsung Electron-Devices Co. (SED), Samsung Corning Co.(SC) and Samsung Electro-Mechanics Co. (SEM). Lee Bung-Chull first incepted Samsung in 1938, and its primary line was trade. The business operation has persisted to be essential, first with imports, and latter export, beginning in the mid 70s. By

Influence of Global Economics at Micro and Macro Levels Assignment

Influence of Global Economics at Micro and Macro Levels - Assignment Example The researcher states that Adam Smith’s was the idea that free trade should prevail as well as the notions that were backing nation-building policies in the support of national defense is more important than opulence. The act of navigation and the wisest of commercial regulations also made concessions to the mercantilistic policy of regulation of foreign trade. In the 1770s, Smith wrote the wealth of nations in the widespread of mercantilism and his advocacy of free trade was supported by the comparative cost theory and the cloth/wine arguments served as the foundation for what later came to be called the pure theory of trade. This theory has then made a turn to support the free trade theory and both Britain and the United States embarked upon policies allowing the extreme of one way or unilateral free trade. According to Dunkey, free trade economists often describe the goal of globalization as deep integration or the convergence of nations’ fundamental economic structu res and policy systems, extending far beyond trade or strictly economic criteria. At the start of the twenty-first century, Americans deviated from living in a national market that was depending on its own resources. The American economy was isolated from the rest of the world by border restrictions and natural barriers, such as time, distance and lack of information. Decades of trade liberalization along with innovations in telecommunication and transportation had integrated global markets – and exposed workers in high-income countries to the pressures of global competition. The superiority of an international trading system characterized by greater multilateralism and international specialization over a trading system based on protectionism, bilateralism and a division of the world into major trading blocs is by no means as clear cut today as it was a decade ago.

Stock Market Prices - Web Based App Coursework Example | Topics and Well Written Essays - 1750 words

Stock Market Prices - Web Based App - Coursework Example There are many advances in stock technologies, although the real time stock out has gotten the most press coverage recently. There are diverse technologies with various capabilities, price points, and footprints. After some time, this evolving change in the stock exchange will spread to other sectors as well. Anything of material significance will be stream –tagged to report its state in real time...... Sophisticated financial operations and keen investors require state of the art trading systems with potential of handling operations in terms of complexity and volume. Challenge the market The challenges faced by markets place are the ability to handle increased volume of trading and latest financial instrument. This calls for the implementation of new rules and regulations that demand for setting up latest cutting edge systems or modifying or even upgrading the existing systems without interfering the on-going operations Challenges 1. Quick and quality execution 2. High Performance 3. Scalability to handle high volumes without degrading in performance 4. Platform neutral 5. Security Overview The documentation is to be developed to cater to the operational needs of the investors all over the world. Therefore, the architecture covers all aspects of Real time market information. Real Time and Delayed Stock Quotes The stock quotes are available on real time basis for which the bourse ch arges a monthly fee while the delayed mode which occurs on the basis of 15-20 minutes delay or lag and available for free. Relevant parameters from the stock market 1. Spot price is acquired from stock exchange’s current basic stock trade price. 2. Exercise price, Time to Maturity are acquired from option exchange quotes. 3. Risk free rate depends on different economies, for example, the US market and the US Treasury 4. Suggested bill rate is 5. Volatility is acquired from user entries; the goal is to give an individual user freedom to decide on their own volatility method. It helps in carrying a test for volatility’s accuracy against the basic market price. Finance data service provider The data is obtained