Reg Vardy PLC financial analysis Essay Example | Topics and Well Written Essays - 2000 words

Reg Vardy PLC financial analysis - Essay Example The company, which is named after founder Reg Vardy, is one of the leading motor retail groups in the United Kingdom. Reg Vardy was initially established as a haulage business at Houghton-le-Spring. Due to the success of the business, it diversified into the sale of vehicles (Yahoo! Finance 2005). Under the leadership of the founder's successor, Chief Executive Officer Sir Peter Vardy, the firm acquired franchises from a number of the finest motor and car manufacturers in the world. Through the course of the company history, Reg Vardy was appointed as the sole distributor of Aston Martin for the North of England. This was followed by the company's franchise of Ferrari and Rolls Royce. Reg Vardy was also awarded the main dealer franchise for other marques such as Jaguar/Daimler, Mercedes and BMW among others. (Company History 2005) In 1989, Reg Vardy became listed in the London Stock Exchange. The initial flotation has raised about 5 million and allowed for expansion outside North East Heathen. With this, the company expanded further as it acquired more dealerships from other volume marques. (Company History 2005) To finance its expansion binge, the company issued rights in 1998 and raised 26 million. The fund was used to acquire Trust Motor Group, the firm's largest acquisition to date. In the same period, the company also established Vardy Contract Motoring, which is focused on the contract hiring and leasing operations (Company History 2005). This year, Reg Vardy pushes through with its strategic acquisitions given the upcoming purchase of five dealerships from the Priory Motor Group. This highlights the company's strategy of acquiring performing and high quality business that accounts from payments of goodwill. (Reg Vardy PLC Annual Report 2005) So far, Reg Vardy sells about 200,000 vehicles annually and employs around 6,000 workers. It has also substantially increased its total franchises to 98 dealerships in 2005 from only 63 dealerships in 1998 (Reg Vardy PLC Annual Report 2005). The company continues to distribute new and used cars for Aston Martin, Renault, Alfa Romeo, Audi, BMW, Citroen, Fiat, Mercedes and Jaguar. Its major shareholders include the Vardy family (28%), Deutche Bank (20.6%) and Aegon (3.59%). (Yahoo! Finance 2005) Financial Highlights Table 1 - Balance Sheet Balance Sheet (in millions) 2005 2004 2003 2002 2001 Assets Current Assets Cash and Equivalents 39.2 24.3 45.5 39.7 12.0 Receivables 73.6 66.6 61.9 52.6 64.0 Inventories 243.2 247.5 174.8 123.1 128.2 Other Current Assets 14.5 12.0 15.0 6.5 8.5 Total Current Assets 370.5 350.4 297.2 221.9 212.7 Property Plant and Equipment-Net 180.9 181.7 154.8 162.0 165.6 Intangible Other Assets 3.5 3.2 1.3 1.3 1.8 Other Assets 3.5 3.2 1.3 1.3 1.9 Total Assets 555.0 535.3 453.3 385.2 380.3 Liabilities and Shareholders' Equity Current Liabilities Accounts Payable 186.2 184.3 146.9 96.5 78.8 Short-Term Debt 34.1 38.7 70.1 42.3 35.7 Other Current Liabilities 44.4 37.0 28.8 25.6 47.3 Total Current Liabilities 277.2 271.3 256.8 174.5 169.3 Long-Term Debt 47.9 49.7 12.7 53.0 57.1 Provision for Risks/Charges 5.4 1.2 1.4 2.8 4.0 Deferred Taxes 6.4 5.9 5.1 4.1 4.8 Other Liabilities 12.6 10.8 6.3 1.7 12.4 Total

Phosgene Essay Example | Topics and Well Written Essays - 1000 words

Phosgene - Essay Example At temperatures above 250oC, phosgene decomposes to mixtures of carbon monoxide (CO), chlorine gas (Cl2), carbon dioxide (CO2), and carbon tetrachloride (CCl4). Owing to its low boiling point of 7.56oC, it is very volatile and non persistent. "It may remain for long periods of time in trenches and other low lying areas" (Federation of American Scientists, 2007). Phosgene smells of newly mown hay, at room temperature. It is soluble in fatty oils and organic solvents. Its odor threshold is 0.12-5.7 ppm. And its Permissible Exposure Limit Threshold Limit value (by volume in air) is 0.1 ppm (American Chemistry Council, 2002). Physical properties of Phosgene are given below: Phosgene hydrolyses slowly in water and releases hydrochloric acid and carbon dioxide. Phosgene reacts easily with caustic solution and even more so with ammonia and ammonia water. Phosgene produces hazardous chemical reactions with certain substances. Powdered aluminum burns in the presence of the vapor of phosgene. Phosgene also reacts with alcohols. For example, with 2,4-Hexadiyne-1,6-diol, phosgene produces a shock sensitive compound 2,4-hexadiyne-1,6-bischloroformate. It also produces hazardous products on reaction with secondary amines. When phosgene is mixed with potassium and subjected to shock, it explodes (American Chemistry Council, 2002). Phosgene is a highly dangerous pulmonary toxicant. ... erg/mol cm Solubility Parameter Dipole Moment Van der Waals Volume Van der Waals Area 5.64E+04 1.16919 34.9 5.20E+09 (erg/cm3)A1/2 Debye (D) cm3/mol cm2/mol Refractive Index Flash Point Upper Flammability Limit Lower Flammability 1.35609 Unknown Unknown Unknown C vol% in air vol% in air Upper Flammability Temperature Lower Flammability Temperature Auto-Ignition Temperature Unknown Unknown Unknown C C C Density Vapor Density Vapor Pressure 1.38 (20oC) 3.4 365 (-10oC) 555 (0oC) 1173 (20oC) g/cm3 mmhg LC50 5 ppm/1h Phosgene hydrolyses slowly in water and releases hydrochloric acid and carbon dioxide. Phosgene reacts easily with caustic solution and even more so with ammonia and ammonia water. Phosgene produces hazardous chemical reactions with certain substances. Powdered aluminum burns in the presence of the vapor of phosgene. Phosgene also reacts with alcohols. For example, with 2,4-Hexadiyne-1,6-diol, phosgene produces a shock sensitive compound 2,4-hexadiyne-1,6-bischloroformate. It also produces hazardous products on reaction with secondary amines. When phosgene is mixed with potassium and subjected to shock, it explodes (American Chemistry Council, 2002). Mechanism of Injury Phosgene is a highly dangerous pulmonary toxicant. Its exposure may not produce any symptoms for a long time, and by the time symptoms are detected it usually results in fatalities. Its exposure produces massive pulmonary edema. The routes of exposure to phosgene are inhalation, and skin/eye contact. Inhalation: This is the major route of phosgene exposure. Since it is hard to detect the odor, there may be prolonged asymptomatic exposures. Phosgene also causes asphyxiation in poorly ventilated places, since it is heavier than air at temperatures above 8oC (American Chemistry

Analysis of Hamlet Research Paper Example | Topics and Well Written Essays - 750 words

Analysis of Hamlet - Research Paper Example The characters in the story experience a loss and due to this burden of loss, the characters behave in ways they might not have behaved without the occurrence of loss (Rogers 164). The writings inform the audience that these characters are ready to choose any path to obtain vengeance and the creed for vengeance stops them from thinking in a rationale manner and this negatively impacts the moral standings of these characters (Krader 280). For example: when Claudius asked Laertes whether he will only talk about taking revenge or will he actually take revenge, in response Laertes states that he aims at chopping of the throat of his enemy and he wants to conduct that action inside the church. This incident clearly represents the fact that Laertes is very much passionate about seeking revenge that he already has a plan in mind for how to kill and where to kill his enemy. Laertes is so passionate that he is not able to learn the real reason why Claudius is pumping him to take revenge. The main reason due to which Claudius is pumping Laertes to seek revenge is Claudius’ personal interest and not because Hamlet has taken the life of the father of Laertes. This even shows that when an individual is dedicated towards seeking revenge, he fails to take rationale decisions and decisions under the light of ethics and morality. The story even informs the readers that once characters and individuals decide to seek revenge, they continue to destroy the path of ethical and moral behavior. For example: In the literature, Hamlet clearly shows that once the announcement and the decision of seeking revenge are taken, the desire to conduct the act increases. For example: In Act 2, Scene 2 of Hamlet, Hamlet promises on his father’s dead soul that he wants to murder Claudius to attain revenge and he is being pumped by revenge to conduct this act as soon as possible (Shakespeare, 2008). The text even reveals that Hamlet is conducting changes to his mentality for the sake o f attaining revenge; this even reflects the determination within Hamlet to seek revenge. The literature even shows that the desire to attain revenge has diverted him from his ability to think in a moral manner and the literature even reveals that the desire to seek revenge is caused due to ones pride (Anderson 41). The literature even informs its reader that pride is the front seat driver of the behavior to seek revenge and those individuals who are proud are strongly motivated to seek vengeance. The text states that pride precedes moral reasoning and incentives attained from seeking revenge are far greater than the benefits that might be attained through moral reasoning and moral behavior. The text even shows that individuals give greater importance to honor rather than moral reasoning while taking any action. For example: the text states that Fortinbras has to seek revenge from Hamlet because Hamlet killed his father and took over his father’s property and in order to regai n the honor of the family and the property, he has to murder Hamlet and take back the property from Hamlet. Throughout the text one point is clear; the point is that when a loved one is murdered, revenge is obligatory. The text even informs its audience that the feeling of loss is countered through revenge and when individuals have

Essay( critical analysis) Essay Example | Topics and Well Written Essays - 500 words

( critical analysis) - Essay Example This is one of the arguments presented by Frost inn the contradiction between two neighbors in the poem. "We keep the wall between us as we go. To each the boulders that have fallen to each." (15.16). It is a compulsive habit that human beings possess, the need to be close to something or someone yet still keeping a distance as some sort of breathing ground. The wall so to speak is built bigger and stronger in time. To shed away from the pains that might be brought by an unwarranted closeness. In the same way, pieces of the enclosure crumble one way or another. The poem deliberates on the persona of the poem with the use of the first person. It represents a conflict within between two neighbors, one who sees the importance in creating a barrier between them and the other who perceives that such wall and the effort exerted toward the building of it is unnecessary (Deutsch, 474). This lies in parallel to a closely related expression, too close for comfort. As everyone wants to build lasting and true relationships but no one can fully say that each of these connections are truly honest and that all impediments have been eradicated to commit to such a deep level of connection. It is like one of the neighbors on the poem who continues to build the fence as a way of preventing direct neighborly contact. Why do people build barriers? This is one good question that Frost dared ask in his poem, "Before I built a wall Id ask to know. What I was walling in or walling out" (33.34). And one gets to thinking, what it is really, is it because we fear that anyone may dwell and ruin the privacy of our home, or is it because one is afraid that an unacceptable part of him gains liberty to free itself of inhibition. Maybe, when one contemplates about it, it is a combination of both. In a literal interpretation, people are afraid to eliminate all boundaries between all his relationships as

The Social Side of Decision Making -GP Essay Example | Topics and Well Written Essays - 500 words

The Social Side of Decision Making -GP - Essay Example (Larson 1989, p. 46) Here, members of an organization thrive by observing others and rationalizing their actions according to comparisons made with themselves against other people. The upshot is people tend to conform to what is popular at the expense of individualism because that is the safe and easy way to move forward and get things done. This environment is dangerous when we talk of social learning theory because employees’ negative actions are collectively learned from each other. First off, communication occupies the utmost importance in the whole equation. Nike has reportedly suffered a $100 million loss in a quarter as a result of a miscommunication between the management and the company’s techies. According to Sharon Morgen (2005), the technicians were waiting for the Nike management for decisions, while the management, for its part, was expecting the techies to make the decision. As a result, an important project was botched and has generated not just loss of money but an incidence of bad blood between the parties concerned. Certainly, talking with and involving all of the people involved in the decision-making process is one of the best ways to avoid the alienation of labor that Karl Marx fretted so much about†¦ If they own the decision, if it is as much theirs as yours [the CEO’s], it becomes impossible to excuse later performance deficits with standard â€Å"it wasn’t my idea† excuse. It was their idea. (p. 159) Suggestions on changes are mostly on decision-making fronts. First off, whether it is big-decisions or minor ones, such as deciding on a new corporate logo, it should call for participation and input from everyone. The idea is that there should be a group ownership of a decision so as to remove the stigma of corporate autocratic impulses. Secondly, there should be a delegation of authority not of responsibility. Like in the case when someone blundered on a project and he gets fired for it –

Expectations manipulate the reader Essay Example for Free

Expectations manipulate the reader Essay How does Dickens Presentation of Pips threatened childhood in chapters 1-8 of great Expectations manipulate the reader? Great expectations is a book written by Charles Dickens, and was first published in 1861. Charles Dickens was a Victorian writer and also a social commentator during the time. The novel Great Expectations commentates on lower class life in the Victorian era. The book is mainly based on social criticism. The novel is about a boy called Pip who has a cruel start to life, living with his mean sister and her husband. With many people indifferent to Pips life, Pip starts with low expectations wanting to go to prison. Afterwards his life changes when he is described as a common labouring boy, eager to change this he also changes his expectations in life and from wanting to go to prison, or becoming a blacksmith he wants to become a gentleman and have a high status. Throughout the novel we are manipulated into feeling sorry for Pip. The events in his life, the people he meets and the way he is treated from childhood till he is grown up. Pip is an orphan at the beginning of the story, this and the factors such as that his parents are dead make us feel sorry for him. He also lives with his sister who is a harsh and beastly woman and treats him horridly. We are first introduced to Pip whilst he is a child. While in the graveyard he meets an escaped convict who treats him harshly. One of the ways that Dickens manipulates us during this is showing how unprotected and weak Pip is. After each question he tilted me over a little more, so as to give me a greater sense of helplessness and danger (chapter 1) this quote shows how feeble Pip is. We are later manipulated even more by the way his sister treats him. Contempt and hatred are just some of the ways that could be used to describe her attitude towards him. Hence he is a lonely, weak boy who has no parents. Mrs Joe applied Tickler to its further investigation. She concluded by throwing me I often served as a connubial missile. She beats Pip and acts as if he is nothing but a mere slave to her and must do as he is told or she willHow does Dickens successfully link Magwitchs appearance in Chapter one with his return in Chapter Thirty-nine in Great Expectations? Great Expectations is set in the 1800s, for gentlemen of that time, life was rich and full of beautiful houses and places. Because they didnt have to work they spent their days chatting, going to dinners and just having fun. But for the working class, they had to always be thinking of ways to make money and always working to secure their next meal. This novel was serialised, which meant that the story was published part by part and so, many groups of people would gather together to read the story. They could then tell each other what they thought was going to happen in the next couple of chapters. To make the audience want to read the next couple of chapters, Dickens had to end each chapter with a cliff hanger. The central protagonist in this novel is Pip. In the first chapter we learn that Pips parents are dead and so he lives with his sister and her husband. We also learn that he had 5 other brothers and sisters who have also died as their five mini gravestones or rocks are beside Pips parents grave. He frequently visits his parents grave even though he has no memory of ever seeing them. He paints a picture in his mind of his mum and dad. In this chapter we get to meet Abel Magwitch who will become a central figure in Pips life. Dickens successfully uses pathetic fallacy in both Chapter One and Chapter Thirty-nine to create a negative tension. In Chapter One, he describes the weather with negative adjectives such as sting, torn, and growled. These all give negative connotations to the reader to create the bad tension in the weather. He also uses the onomatopoeia like shivers and shuddering to show how the weather is affecting people. He also uses the word shuddering again in Chapter Thirty-nine providing an obvious link in the weather. Dickens uses the adjective angry more then once to show that whatever is going to happen wont be good. In Chapter Thirty-nine, Dickens hints at negative events by using the simile, like discharges of a cannon which also ties into Chapter One because it is signalling that an escaped convict could be entering the story again because a cannon would sound whenever a convict had escaped. Dickens describes the weather as stormy and wet, stormy and wet which uses repetition to push across how bad the weather is. He also says, mud, mud, mud which is a list of three, which is a very convincing technique to help set the scene for Magwitchs return.

Interrupt and a Trap in an Operating System Essay Example for Free

Interrupt and a Trap in an Operating System Essay What are the differences between an interrupt and a trap? What are their importance? According to Stallings (2012) an interrupt is â€Å"a suspension of a process, such as the execution of a computer program, caused by an event external to that process and performed in such a way that the process can be resumed† (p. 716). Stallings (2012) goes on to say that â€Å"interrupts are provided primarily as a way to improve processor utilization. For example, most I/O devices are much slower than the processor† (p. 14). â€Å"A trap is an unprogrammed conditional jump to a specified address that is automatically activated by hardware; the location from which the jump was made is recorded† (Stallings, 2012, p. 721). A trap is actually a software generated interrupt caused either by an error (for example division by zero, invalid memory access etc.), or by a specific request by an operating system service generated by a user program. Trap is sometimes called Exception. The hardware or software can generate these interrupts. When the interrupt or trap occurs, the hardware transfers control to the operating system which first preserves the current state of the system by saving the current CPU registers content and program counters value. Then the focus shifts to the determination of which type of interrupt has occurred. For each type of interrupt, separate segments of code in the operating system determine what action should be taken and thus the system keeps on functioning by executing computational instruction, I/O instruction, storage instruction etc. Provide an example of each. Example of an Interrupt retrieved from http://www.scriptoriumdesigns.com/embedded/show_codefile.php?fname=interrupts/AVR_ISR_1.c // AVR_ISR_1 #include avr/io.h #include avr/interrupt.h typedef uint8_t u8; // convenient unsigned variable designations typedef uint16_t u16; #define INPORT PIND #define OUTPORT PORTC #define OUTDDR DDRC volatile u8 Int_flag = 0; ISR( INT0_vect ) { OUTPORT ^= 0x01; // toggle LED } void int0_init( void ) { MCUCR = (1ISC01); // enable negative edge on INT0 GICR = (1INT0); // enable INT0 } int main( void ) { OUTDDR = 0x01; // set bit 0 to output OUTPORT = 0x01; // set LED off (active low) int0_init(); // configure INT0 sei(); // enable global interrupts while (1) // loop forever, all work happens in ISR ; return(0); Example of a trap retrieved from http://www.ibm.com/developerworks/aix/library/au-usingtraps/index.html #!/bin/bash # proj_dir=/opt/pcake/bin # check file is present if [ ! -f $proj_dir/run_pj ] then echo $proj_dir/run_pj not presentexiting exit 1 fi # make a backup copy cp -p $proj_dir/run_pj $proj_dir/run_pj.24042011 if [ $? != 0 ] then echo $proj_dir/run_pj no backup madeexiting exit 1 fi # copy over updated file if [ ! -f /opt/dump/rollout/run_pj ] then echo /opt/dump/rollout/run_pj not presentexiting exit 1 fi cp -p /opt/dump/rollout/run_pj $proj_dir/run_pj if [ $? != 0 ] then echo $proj_dir/run_pj was not copied..exiting exit 1 fi References: Stallings, W. (2012). Operating systems: Internals and design principles (7th ed.). Boston, MA: Prentice Hall.