3M Essay -- essays research papers

12 Basic Immutable TenetsAs we all know Warren Buffett may be the most successful investor in the world. Some people try to dismiss Buffetts prowess of picking successful securities on the basis of a certain class of luck or inside information that the regular small investor could never hope to have. However what many people do not understand is that, match to Robert G. Hagstrom, Buffett does not invest in stocks but in companies and their underlying businesses. and instead of luck Buffett uses his twelve immutable tenets. These twelve tenets argon broken into four sections of the companies 1) Business, 2) instruction 3) Financial and 4) Market. By analyzing 3Ms annual report, its financial statements, and by examining all aspects of the company and its industry we can come to a conclusion of whether or not 3M would ask an mesmeric investment to Buffett.The first group of Buffetts tenets is the Business tenets. The business tenets are broken into three areas of concentration. T he first business tenet is the business must be simple and understandable. 3M has thousands of different products, a few of which are simple (and thus interesting to Buffett) such as Post-It Notes, Scotch Tape, adhesives, and cleaning agents. But some of 3Ms another(prenominal) products are not as simple such as flexible circuits, and electronic and liquid crystal displays. These tallly technical products would be out of Buffetts destiny of confidence, products that Buffett does not know very much about and therefore Buffett would not be able to interpret and react to developments with as much confidence. The split second business tenet is that the business must have a consistent operating history. Companies with a consistent operating history are firms that are in a stable industry, have spent years producing the same product, and that are not currently involved in changing directions. 3M could easily be reason as having a consistent operating history as shown by its strong co re products (Post-It notes, Scotch tape, Scotch guard etc) which have dominated their commercialize for years. Also 3Ms consistency can be measured by its longevity in the fact that 3M was established over 100 years ago in 1902. The last of the business tenets is favorable long term prospects. Favorable long term prospects ca... ...he last group of tenets, the grocery store tenets, helps the investor decide if the price of the shares is acceptable. The first market tenet is deciding the quantify of the business. To value a business Buffett estimates a companies total future cash earnings and discounts the owners earnings by a riskiness free rate (30 year T-bond). 3M had total owner earnings of $2,690,000,000 in 2003. If we assume that owners earnings will grow by 12% per year for the abutting ten years (which is what analysts predict as the industry as a whole is expected to grow 11% per year) we can calculate that 3Ms intrinsic value in 2003 would be $35,085,216,000. Even if 3M grows at 5% per year the company would still be worth $25,780,818,000. The final market tenet, buying at attractive prices, is buying at a sensible price that will give your investment a margin of safety, and also buying at prices that are below their indicated value. 3Ms value is calculated at $63,480,000,000. This value is almost double our calculated intrinsic value, which would indicate to us that the stock price is too high and that 3M would not represent a good investment until the price falls to a level that would give a margin of safety.

Essay --

Jason Obertin-AndersenImpact of theft on consumers and businessesI think that shoplift is a growing problem in todays society. I believe that the temptation of non paying for something is very big factor in why people steal. Shoplifters perceive shoplifting as a form of self nourishment or as a way to relieve fear or pain in their life. In truth, shoplifting is self-destructive not self-nourishing, but shoplifters often roll in the hayt see the paradox (slp). A persons addiction to shoplifting can develop quickly when the excitement generated from getting away with it produces a chemical reaction adrenaline resulting in what shoplifters describe as an incredible rush or high feeling, which many shoplifters will tell you is the true reward, rather than the merchandise itself (slp). The perpetrator of shoplifting thinks he his getting a product for free and doesnt realize its impact on his future or the community. Shoplifting has a wide direct of affects on more than just the per petrator and his future. It negatively affects the merchant, consumers, prices, legality enforcement and the economy. How does shoplifting affect consumers? According to the National Association for Shoplifting Prevention, Shoplifting has become sensation of the intimately prevalent crimes in the U.S., averaging about 550,000 incidents per day resulting in more than $13 billion worth of goods being stolen from retailers each year. That is more than 35 jillion dollars in losses per day. Current estimates are as high as 1 in 11 Americans shoplift in our nation today. Even with each(prenominal) the advances in security measures, shoplifters are only caught once in 49 times they steal and when caught, turned over to the police only 50% of the time. What most people dont real... ...ation, said that the overriding concern is not endangering employees or customers around them when trying to confront shoplifting. The policy at most major retailers is to simply let the thief go if he or she does not comply with more passive anti-theft maneuvers, such as friendly inquiries as to whether the suspect shoplifter can be helped while in the store. This means that by and large, low-level criminals are simply left undisturbed, in order to avoid escalating cost and liability. Police officers and the court system are concerned with all sorts of different crimes, and the focus is mainly on the crimes that most severely impact their communities. While shoplifting may seem a minor offense in comparison to other crimes, it is still important to realize the impact that shoplifting has on the law enforcement agencies, the community and even on the shoplifter.

Asian American Stereotypes Essay -- essays research papers

Pertaining to Tracy Lais article titled, Asian American Women, Laidiscusses how stereotypes dehumanize people while turning them into objects to bemanipulated. Lai touches on the topic of how Asian people and cultures argonstereotyped as being inferior and exotic. The problem that Lai brings to ourattention is that it is a struggle to be an Asian in America due to the fact that Asians seduce been denied political, economic and social equality in America. Lai alsobrings to our attention the die hard myth that Asians have made it in America, whichis far from the truth.I sense that Lais argument is extremely effective due to the fact thatstereotypes are not only seen among Asians, they are also seen in many othercultures and genders. For instance, women for years were battling for womansequality to be able to vote, and today women are still battling for equality in politicaland economic areas. In addition, African Americans are still trying to be acceptedinto certain political roles th roughout our society. Since Tracy Lai is a Asian inAmerica I feel that her argument holds great validity due to the fact that Lai sharedher own personal experiences. By class period Lais personal feelings, it allowed me tounderstand her beliefs to a greater extent because I was able to see where she wascoming from.Certainly I agree with Lais views because I have noticed that Asians aredepicted as being inferior. For example, if you have ever seen a movie or atelevision show that...

Commentary on Hope Essay -- Papers

Commentary on Hope Aimed at the older teenagers with sophisticated lexis, Hope has been opened by presenting literary devices such as personification, phonological features and repetition, thus setting the scene whilst subtly stressing the conveyed mood and theme. The usage of the present tense rather than the past removes the linear dictation by time and restricts knowledge to situation rather than chronology. By applying a present tense to this text, I have removed the idea that the darkness has limits as it seems to be immovable, and because of this, the reader has to accept its presence and uplift how to benefit from the lighter areas. Within Hope, a musical lexis is applied to the text, creating more intensity and dynamic description to the text. The reader is instinctively drawn towards the phonological position of the scene rather than the visual as they are able to hear that horrific scream crescendo dynamically. Furthermore, this centres th e readers thoughts on the unanswered questions they may have a...

Satellite Radio and Howard Stern Essay examples -- essays research pap

broadcast Radio Will Howard Sterns move make us change the way we think about radio?Howard Sterns plan to move to satellite radio in January 2006 marks a major turning signalise for the radio industry. Not only has Stern brought the possibility of subscribing to satellite radio into the minds of the millions in his audience, he has also gotten more people to start thinking and public lecture about what really distinguishes satellite radio from traditional radio.Satellite radio was first authorized by the Federal Communication Commission (FCC) in 1997, 7 years after initial applications. The delay in approval was in part the result of protests by the National Association of Broadcasters which charged that the service threaten "traditional American values of community cohesion and local identity." Ironically, as these charges were being made, traditional radio was becoming subjectized through use of more national programming and industry consolidation under Clear Channel Communications and Infinity Broadcasting. The FCC dealt with these issues by restricting satellite radio to only national programming. fundamentally this rule minimizes competition with traditional radio stations that only reach local markets and get the majority of their revenue from local advertisers. Despite there presently being very few small, independent, local broadcasters to protect, this re principal(prenominal)s the most significant regulation on satellite radio.1Today there are two main players in the satellite radio business Sirius and XM. Though Sirius signed Stern, XM is currently the leader in terms of subscribers. Both companies have neared bankruptcy at different points in their short history, and both have yet to make a profit. By signing Stern for $500 million over five years, Sirius mustiness gain at least one million subscribers to pay this commitment.2 Clearly satellite radio has a long way to go, exactly with steady reaping and high-profile contracts (no t only with radio personalities, but with car companies who now install satellite radio equipment in all new cars), the future remains wide open.Satellite radio is subscription-based, commercial-free, and largely unregulated. This last point appears to be the main draw for Stern. Since the infamous Super Bowl incident this year, there have been calls for significantly expanding FCC improperness re... ...quot due to his success with radio, books, television, and movies, but whether his kingdom leave alone extend to satellite radio is yet to be seen. Free speech is one of the key rights Americans have, but this right has always been in some degree of conflict with decency laws. The progressively stringent restrictions on the content of traditional radio have gotten so positive in the past few years that, perhaps, finally they have gone too far. Listeners will soon wake up to the reality that what they want to project in the morning has moved and in order to maintain their rights they must move too. If this is the case and audiences truly value "free listening," satellite radio will mark the end of traditional radio as we know it.1 http//slate.msn.com/id/2097247/2 http//money.cnn.com/2004/10/06/news/newsmakers/stern sirius/3 see 24 http//www.forbes.com/feeds/ap/2004/10/06/ap1578735.html5 http//www.forbes.com/business/2004/10/06/cx sw 1006stern.html?partner=rss6 Telecommunications Act of 1996 5077 Being commercial-free and having a wider selection of programming in many areas are also deemed to be significant advantages of satellite radio.

Satellite Radio and Howard Stern Essay examples -- essays research pap

Satellite Radio Will Howard Sterns fire make us change the way we think about piano tuner?Howard Sterns plan to move to artificial orbiter radio receiver in January 2006 marks a major turning point for the radio industry. Not only has Stern brought the possibility of subscribing to satellite radio into the minds of the millions in his audience, he has also gotten more people to start thinking and talking about what really distinguishes satellite radio from traditional radio.Satellite radio was first authorized by the Federal Communication Commission (FCC) in 1997, seven years after initial applications. The delay in approval was in part the result of protests by the National Association of Broadcasters which charged that the service threatened "traditional American values of community cohesion and local identity." Ironically, as these charges were being made, traditional radio was becoming nationalized through use of more national programming and industry consolidation u nder Clear Channel communication theory and Infinity Broadcasting. The FCC dealt with these issues by restricting satellite radio to only national programming. Essentially this rule minimizes competition with traditional radio stations that only do local markets and get the majority of their revenue from local advertisers. Despite there soon being very few small, independent, local broadcasters to protect, this remains the most world-shaking regulation on satellite radio.1Today there are two main players in the satellite radio business Sirius and XM. Though Sirius signed Stern, XM is currently the leader in terms of subscribers. Both companies have neared bankruptcy at various points in their short history, and both have yet to make a profit. By signing Stern for $500 million over five years, Sirius moldiness gain at least one million subscribers to pay this commitment.2 clear satellite radio has a long way to go, but with steady growth and high-profile contracts (not only with radio personalities, but with car companies who now install satellite radio equipment in all new cars), the future remains wide open.Satellite radio is subscription-based, commercial-free, and largely unregulated. This last point appears to be the main regurgitate for Stern. Since the infamous Super Bowl incident this year, there have been calls for significantly expanding FCC indecency re... ...quot due to his success with radio, books, television, and movies, but whether his kingdom will extend to satellite radio is yet to be seen. Free speech is one of the key rights Americans have, but this right has always been in some degree of conflict with decency laws. The progressively stringent restrictions on the content of traditional radio have gotten so extreme in the past few years that, perhaps, finally they have gone too far. Listeners will soon wake up to the reality that what they want to hear in the morning has moved and in order to maintain their rights they must move too. If this is the case and audiences truly value "free listening," satellite radio will mark the end of traditional radio as we know it.1 http//slate.msn.com/id/2097247/2 http//money.cnn.com/2004/10/06/news/newsmakers/stern sirius/3 see 24 http//www.forbes.com/feeds/ap/2004/10/06/ap1578735.html5 http//www.forbes.com/business/2004/10/06/cx sw 1006stern.html?partner=rss6 Telecommunications Act of 1996 5077 Being commercial-free and having a wider selection of programming in many areas are also deemed to be significant advantages of satellite radio.