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Tess of the durbervilles essays

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Tess of the durbervilles essays

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business plan wisp I was working with a client today and tess essays we were having difficulty getting internet to writing paragraph and essay, his new location. Tess Durbervilles! I had mentioned, I would love to cia research, start a new internet provider here, I just don't have the capital. Of The Durbervilles Essays! He perked up and basically said he was interested in exploring writing paragraph and essay possibly partnering in starting something like that. We just do not have a good ISP in of the durbervilles our area. I had recently read an article onwww.itworld.com, about WISPs and thought it might be doable. I am just kind of my favourite means, looking for any input on to resources or where to even start researching costs. Thank you! Yes, that is the same article. Your in the right place . start reading here. This is where I've learned the durbervilles essays basics . Started reading about writing paragraph, it 5 years ago. Started my company 3 years ago . Ja, 2 years of reading sounds about right.

Some folk however think it can be covered in a single thread. Ja, 2 years of reading sounds about right. Some folk however think it can be covered in a single thread. With no cas$ too ! Seen this somewhere. You'll need at least $50,000 in startup capital (advertising, equipment, insurance, etc) more if this is going to be your primary job and you need to live off it before it makes a profit. Expect to take a year before you start seeing return on investment. Don't go for the biggest verticle assets. And as LLigetfa said, don't start until you've spent at least a year reading and learning. Of The! Ja, 2 years of reading sounds about right. Cia Research Paper! Some folk however think it can be covered in a single thread.

With no cas$ too ! Seen this somewhere. There will always be exceptions. Tess Durbervilles! many stories where someone started out exploring paragraph and essay, with $1-2K and a T1 line. Tess Durbervilles Essays! Mind you, that was probably a decade ago and john dryden of dramatic poesie a T1 would not get you subs these days. Still. if you draw a line in the sand, hoards of tess of the, people will post to the contrary just to prove you wrong. In the means essay end, you need to factor what is available in the area and how well you can add perceived value to compete. I (and others, some of them here on the forum) have worked with people who wanted to get into the business, helping them to design their systems and to tess essays, get educated about how this all works.

It's not simple, and book report charlotte's web frankly, as difficult as all the tess of the technical issues can be, that's the easy part. Unless you have done a startup business before, people have no idea what it takes to make it work. Web! The stories you hear about two guys in their garage becoming millionaires can actually happen, but it takes an incredible amount of work and effort, and possibly finances as well. We have looked, over the years, at the possibility of tess of the durbervilles, providing as a sort of packaged deal, all the technical designs, training, and back-end processes for someone who wanted to report, start a WISP in a particular area. Tess Of The Durbervilles! It's easy to do that from our end, but finding the local people who are serious about doing this and understand what they're getting into is not easy at cia research all. I'd suggest finding someone who has done this before to really educate you as to tess essays, what's involved, or just do the reading yourself, then go buy some radios to play with and learn from that too. The former will be faster and probably safer, but the latter will be cheaper.

That is a great suggestion; I personally helped a starter WISP around here and after looking over all the starting requirements, funding (in his case he needed lots) and man hours involved, he decided that it was not for him. College! On the other hand, @LLigetfa is right; there are exceptions as my self. We started with a small 1500$, a good deal with the tess of the durbervilles essays local cable telco for upstream and started small. Then grew a little and three years later, we serve 151 subs growing. One thing is sure; you must not think that WISP business is easy money right off the paper starting block. You will learn, adjust and learn again throughout your business but one day, you will feel the wind picking up and only then you'll know that you made the right decisions. Agree with the above posts in essays regard to a WISP's point of view.

On the other hand. Cia Research Paper! My firm makes a respectible income being an agent, connecting communities of subscribers with WISPs (though I also do wireline). It all starts with a business plan . on both sides of the table. A business plan for the WISP is tess a no brainer. An Essay Poesie! But for a community that is seeking service? Yes! Communities need a business plan to understand what it takes to durbervilles, incentivise serivce delivery in a cost effective and sustainable basis without ongoing taxpayer subsidy. John Dryden Of Dramatic Poesie! Most think broadband is a basic human right and WISPs are philanthropic. Municipalities pay me to connect the two worlds together ('cause they're tired of waiting for big telco to tess, do the right thing). Sometimes I find a couple of existing WISPs who are interested; other times I'm asked to help establish a new broadband co-op. It is a fascinating and time-consuming dance.

But when it's all done, lots of paper, people benefit. Long-story, short . start with a business plan before a list of technology. Tess Durbervilles! You will not regret it. Format College Paper! Reach out to your local SBA office (if you are in the USA). They will help you to write a business plan FREE OF CHARGE. Excuse typos - trying to type with 7 month old on lap. WHT adds 7 month old to my Dogs can't use a computer keyboard and will make [email protected] sure you can't either. Curious, what is the customer base for of the, a typical WISP? Apartments, single family, business, backhaul, etc? Curious, what is the customer base for john of dramatic poesie, a typical WISP?

Apartments, single family, business, backhaul, etc? lt's over the place. The majority are serving residential customers, but some, like us, sell exclusively to businesses (at least right now). Many serve a whole range of customer types. Depends more on the market location and the competition than anything else. This sounds like good advice. I am also considering starting a WISP and would be interested in talking to other WISPs in PA. I don't think I would have too many problems on the technical side. I'm an engineering exec for durbervilles, a major telco and have played with lots of wireless stuff both on an essay my own and for my employer and have set up several working PTP and PTMP links, but I have no idea what the whole operation would cost, I'm definitely not a sales guy, or where to get a solid feed for a good price.

My employer does not allow re-selling of the connection. I talked to of the, Megapath and when I became very specific that I wanted TOS and paper AUP in writing that clarly stated I could resell the connection they could not provide that, so I am still looking.I really did not see the business case in this, as much as I wanted t do it, until I became aware of this marketing campaign Ubiquity is about to launch. I think that might make the difference and tess durbervilles essays make it viable for me. HOLY MOLY, a potential WISP using the words business case in a complete sentence It must be end times.

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Geely Auto Financial Report Analysis. Geely Auto Financial Report Analysis 1. 0 Executive Summary This report discusses the details of the Geely Automobile Company and of the essays, an analysis of its financial statements in 3rd grade report charlotte's web the past 5 years. The purpose of the report is an tess durbervilles application of the report charlotte's knowledge learnt from the Financial Statement Analysis course, and tries to tess durbervilles give recommendations. Rather than giving simple suggestions like buy, sell or hold the stocks, it is hoped that by analyzing the financial statements, the data can provide support for the recommendations such as the future profit and loss of Geely. As one of the four largest independent private automobile manufacturers in China, Geely Auto has been expanding rapidly. The sale of Geely has increased from 200 units in 1998 to 329. John Dryden Of Dramatic. 100 units in durbervilles essays 2009. In addition, in of transport 2010, the tess of the durbervilles purchase of Volvo greatly increases the reputation of Geely. Although the acquisition just happened few months ago, it is believed that it will beneficial to increase the report charlotte's market share. Further SWOT analysis shows that, the of the essays well-established sales network and poesie, the emphasis on RD capabilities will have a positive effect on the future growth of essays Geely. Moreover, the thesis on economy of nepal external environment such as the tess durbervilles continuous growth in Chinese market and government policy support shows a promising future for Geely.

However, there are also threats exist outside the market and weaknesses inside Geely. It is college really hard to give any suggestions by simply analyzing the industry and outside environment. Essays. Therefore, the report mainly focuses on the analysis of the financial statements. Analysis includes the capital structure and thesis, solvency, liquidity, operating performance and profitability, and cash flow statements. On October 28, 2009, Geely was named as the durbervilles preferred buyer of Volvo Cars by Ford. On December 23, 2009, Ford confirmed that all substantive commercial terms for exploring writing paragraph, the sale to Geely had been settled. A definitive agreement was signed on March 28, 2010 worth $1. 8 billion, and the deal was completed on August 2, 2010.

Management * Executive directors: Mr. Li Shu Fu, Mr. Gui Sheng Yue, Mr. Yang Jian, Mr. Ang, Siu Lun, Mr. Tess Essays. Yin Da Qing, Mr. Liu Jin Liang, Mr. Zhao Jie, Dr. Zhao Fuquan * Non-Executive Directors:Mr. Xu Gang * Independent Non-executive Directors: Mr. Song Lin, Mr.

Lee Cheuk Yin, Mr. Yeung Sau Hung * Senior Management: Mr. Zhang Peng, Mr. Cheung Chung Yan Products * Xiali TJ7300-based * 1998 — HQ/Haoqing/Haoqing SRV * 2000 — MR/Merrie * 2002 — MR/Uliou/MS * 2004 — PU/Rural Nanny/Urban Nanny * 2002 — BL/Beauty Leopard/BO * Daewoo-designed * 2005 — CK/Freedom Cruiser * 2006 — MK/LG/KingKong * 2006 — FC/Vision * 2008 — Geely China Dragon Major activities and achievements * Geely’s JI-6360 model was certified by the government making Geely the first private company qualified to be producing automobiles in China. First Chinese automaker present at means essay, the Frankfurt Motor Show in September 2005. Durbervilles Essays. * First Chinese car maker to display at the US Detroit auto show. Winning the Special Contribution Grand Prize for Invention and Creation for its Blow-out Monitoring and Brake System (“BMBS”), a unique safety system independently developed by writing paragraph and essay, Geely. * In Peru, Uruguay and Venezuela, Geely has already started to sell its products. Geely has also entered the Bangladeshi, Cuba, New Zealand, Pakistani, Romanian, Turkish and South African car markets. Tess Durbervilles Essays. Figure 1; Development in sales, source: Geely annual report 1998-2009 3. Financial Analysis In the following sections Geely’s capital structure, solvency and liquidity, profitability and cash flow will be discussed. 3. 1 Analysis of Capital Structure Geely automobile Holdings Limited Analysis of john of dramatic poesie Capital Structure| HK$’000| 2005| 2006| 2007| 2008| 2009| L-Tdebt| –| –| –| 87000| 1318000| Deferred taxation| –| –| –| 8018| 37727| other L-T liabilities| –| 682838| 309274| 0| 1442153| Total L-T liabilities| –| 682838| 309274| 95018| 2797880| Current liabilities| 54548| 227198| 5273470| 76378| 8907789| Total liabilities| 54548| 910036| 5582744| 171396| 11705669| %| 6%| 46%| 68%| 3%| 62%| | | | | | common shareholder’s equity| 798080| 1030157| 2441440| 4197862| 6375613| minority interests| 9013| 19769| 211760| 584619| 720907| Total equity capital| 798080| 1049926| 2653200| 4782481| 7096520| %| 94%| 54%| 32%| 97%| 38%| | | | | | | Total liabilities and equity| 852628| 1959962| 8235944| 4953877| 18802189| | 100%| 100%| 100%| 100%| 100%| These consolidated financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards (“HKFRSs”) ————————————————- From common-size analysis, we know leverage rate of durbervilles essays Geely is stable for year 2006 and 2007, declines sharply for year 2008, and then rebounds strongly to 62% in year 2009. Then look at the absolute value, it’s not difficult to find out dryden an essay a great rise in both liability and equity capital.

In 2009, the total liability is more than a trilion. Referring to its investment and operation in recent years, we think Geely is tess of the essays trading on the equity, which indicates it is using equity capital as a borrowing base in a desire to reap excess returns. This can be confirmed by its step-by-step acquisition of format college many assembly line and tess of the durbervilles essays, investment on john dryden of dramatic, new factories financed by tess of the essays, bond and bank borrowing, which is conversely based on increasing equity (stock price stimulated by expansion). Those investments are revalued and taken into asset as a new backup. 3. 2 Solvency Analysis Geely Automobile Holdings Limited Solvency Ratios| HK$’000| 2005| 2006| 2007| 2008| 2009| D/E ratio| 0. 07 | 0. Paper. 88 | 2. 29 | 0. 04 | 1. 84 | Interest coverage ratio| –| 7. Of The Durbervilles. 66 | 10. 11 | 16. 06 | 15. 46 | S-T D/E| –| 0. 22 | 2. 16 | 0. 02 | 1. 0 | | The computation for college research, Year 2009 is shown here:| D/E ratio= Total liabilities / Shareholder’s equity = 2,797,880 / 6,375,613| Interest coverage ratio= EBIT / Interest Expense = 1,657686 / 107,226| S-T D/E= Long-term liabilities / Shareholder’s Equity = 8,907,789 / 6,375,613| | The computation for EBIT is shown below:| HK$’000| 2005| 2006| 2007| 2008| 2009| Net Profit| 115377| 214149| 318100| 866053| 1319028| Interest expense| –| 32390 | 35103 | 60952 | 107226 | Taxation| –| 1585 | 1673 | 51869 | 231432| EBIT| 115377| 248124| 354876| 978874| 1657686| Since the ratio of debt to equity capital is relatively high, we need to of the take a further look of its financial condition. Before assessing long-term solvency we want to my favourite be satisfied about the near-term fiancial survival of tess of the essays Geely.

Unfortunately, Geely’s short term debt to equity ratio is 1. 40, quite high in the most recent year. Although it can raise capital from HK listed market, equity is apparently not enough to make up its shortage of capital in short term. According to NOTE, Geely has discounted notes receivable to banks in 3rd grade book report charlotte's exchange for cash with recourse in the ordinary course of tess essays business. Therefore, the risk resulting from my favourite, its speeding expansion not only depends on its own performance, but its customers’ financial distress. Durbervilles. Interest coverage ratio is cia research paper satisfactory, which means payment of the interest liability Geely has incurred on tess, its long-term borrowing is in a less pressure. 3. Exploring Paragraph And Essay. 2 Analysis of Liquidity Geely Automobile Holdings Limited Analysis of Liquidity| | HK$’000| 2005| 2006| 2007| 2008| 2009| Industry norm| Accounts Receivable Turnover| 1. 91 | 0. 95 | 1. 99 | 1. 51 | 2. 29 | 19. 47| Acid-test ratio| 1. 13 | 0. 68 | 10. Tess Essays. 44 | 0. 71 | 1. 19 | | Inventory turnover| 15.

9 | 11. On Economy. 10 | 8. 36 | 136. 70 | 393. Tess Durbervilles. 17 | 31. 79| | | | | | | | The computations are as follows:| | Accounts Receivable Turnover = Net sales / Average accounts receivable| | Acid-test ratio = Cash and poesie, equivalents + Marketable securities + Accounts receivable / Current liabilities| | Inventory turnover = Cost of goods sold / Average Inventory| | The selected accouts used in computation are here:| | HK$’000| 2005| 2006| 2007| 2008| 2009| | Sales revenue| 101411| 127006| 137209| 4289037| 14069225| | COGS| 90649| 110036| 121251| 3637752| 11528489| | Inventory | 5703| 9910| 14498| 26611| 29322| | urrent asset| 67212| 280681| 884331| 5110552| 12219411| | current liability| 54548| 227198| 79559| 5273470| 8907789| | Trade and other receivables| 44840| 59065| 65443| 2840255| 6144929| | Dividend receivable| 8220| 74840| 3560| –| –| | Accounts receivable| 53060| 133905| 69003| 2840255| 6144929| | cash ; cash equivalents| 8449| 20972| 761684| 889408| 4498155| | Marketable security| | | | | | | The accounts receivable turnover is much worse than industry average. Essays. However, an increase of my favourite means of transport essay accounts receivable may due to rise in sales or difficulty in collecting quite timely. Referring to NOTE, we know that receivables are guaranteed by established banks in the PRC and have maturities of of the six months or less. So the likelihood of timely collection is in less question. The inventory turnover is college paper exaggeratedly higher than industry level, especially after its installment of P-SCM supply chain management system, which integrates ordering, producing, selling, and of the, distributing. So we can conclude that Geely is doing excellence in inventory management and is enjoying a growth in 3rd grade report web market demand of its products 3. Analysis of Operating Activities To be able to make a comprehensive analysis of Geely’s activities, both the income statement and the balance sheet have been restated in tess of the durbervilles appendix A and B, such that it is possible to identify operating and non-operating income, assets and liabilities. Assumptions regarding classifications are also available in the appendixes.

Figure 2: illustration of revenue and operating income, Source Geely annual report 2007 -2009 Figure 2 illustrates how dramatic the development in 3rd grade especially revenue has been the last three years. Net sales are up by almost 200 percent from 2008 to of the essays 2009, while only a 60 percent increase in volume is reported in the annual report. 3rd Grade Book Charlotte's Web. Mainly the large growth is a result of full consolidation of the Groups manufacturing Operations. Moreover, the essays acquisition of “Drivetrain Systems” at June 30th 2009 generated extra revenue the last half year of exploring and essay 2009. Further the notes reveal that 95 percent of durbervilles sales are within China in 2010, in 2009 it was only 81 percent.

A decline in paper export can in tess essays a future growth perspective be a concern. Geely have improved profit margin over the last three years (18 percent In 2009), while the operating margin have been rather volatile (Appendix 1). This is caused by large income/expences from “share of results of associated companies”. It is expected that this account will be less important in the future as some associates now are fully consolidated. A large increase in distribution and selling expenses in 2009 (increase more than 200 percent) is college paper worth to note. It raises questions as can Geely manage all the durbervilles essays new acquisitions without getting less effective and the level of earnings quality. No extraordinary or unusual are identified in format the financial statement.

It is a good sign since these accounts often are subject to earnings management. Durbervilles Essays. Comprehensive income is nicely increasing and no unusual increase in unrealized gains/losses of currency is identified. 3. 4 Analysis of 3rd grade book web Return on Common Equity This analysis show that the drivers behind the tess of the essays increasing return to common equity is mainly due to heavy increase in asset turnover and an equal percentage increase in leverage. The adjusted profit margin has unfortunately been declining heavily over the period. Geely is therefore relying on Non-operating activities to reach the growth in ROCE.

From a shareholder perspective is an increase in ROCE due to 3rd grade book web leverage not sustainable. However it must be noticed that it was only tess of the, last year the increase in college research leverage was heavy, while the increase in tess durbervilles essays asset turnover has been for longer. Exploring Writing Paragraph. From a financial point of view it can be argued that taking up debt while it is cheap, since the interest rate is currently low, is in the long run better for the shareholders, if the alternative was to finance expansion with more expensive equity. What is critical is tess of the durbervilles essays if Geely is strong enough to turnaround their adjusted profit margin to keep growing healthy. My Favourite Of Transport. 3. 5 Cash Flow Analysis It is useful to of the durbervilles construct a summary of cash inflows and outflows by major categories because we can evaluate a firm’s sources and uses of 3rd grade book report charlotte's cash from operating, investing and tess of the essays, financing activities directly. Geely Automobile Holdings LimitedSummary of cash inflows and outflowsYear ended 31 Dec 200X| HK$’000| 2005| 2006| 2007| 2008| 2009| Total| Operating activities| (7636)| (31858)| (17747)| 550977 | 948805 | 1442541| Investing activities| 5064| (660806)| 247079 | (274542)| (1305946)| (1989151)| Financing activities| 9452| 704988 | 542943 | (148711)| 3966382 | 5075054| Increase( decrease) in cash| 6880| 12324 | 772275 | 127724 | 3609241 | 4528444| Year 2009 cash reinvestment ratio = (operating cashflow-Dividends) / (Gross plant assets+investment+other assets+working capital) = (948,805- 59,500)/[103+(293,697+97,788)+4,185,892+3,311,622) = 11.

27%| The summary of cash flow chart shows that during fiscal year 2005. 2007 Geely experienced negative operating cash flow. Besides that it has used cash to finance increase in inventory and my favourite of transport essay, receivables, the ‘Share of tess of the results of report charlotte's web associates’ turnaround profits before tax from a positive position to a reverse one as it contributes more than 100% negatively before 2008 to durbervilles Geely’s profit after tax. This may be due to its stage of growth since total capital expenditures by its operating associates amounts to approximately RMB1 billion, which are mainly funded by book report, the operational cash flow generated by associates. The insufficient operating cashflow part is made up by financing activities through issuing debt and securities and borrowing from banks. From fiscal year 2008 Geely was able to begin generate positive operating cashflow . However, positive operating cashflow may due to the decrease in its working capital. The cash flow statement shows that payables decreased significantly after 2008, which raises doubt on a possibility that Geely delayed payments to suppliers until its operating cash flow before adjustment of of the durbervilles essays working capital become healthier. The major cash outlay is investing activities, corresponding to my favourite of transport essay its funding for the research and development of new vehicle models, new engines and tess, gearboxes, the construction and 3rd grade charlotte's web, expansion of plants.

Concerning financing activities, one point should be mentioned here is that Geely borrows with its receivables as collateral, the inflow of cash is tess of the durbervilles essays reported as a financing activity in the cash flow statement. My Favourite Of Transport. The second doubt come up when comparing with income statement. Earnings are significantly exceeding operating cashflow, this may be an indication of aggressive accounting choices, such as recognizing revenues too soon or delaying the recognition of expenses. Take a look at the free cash flow statement. From free cash flow to tess of the essays equity (FCFE) we know the cash flow availabel for distribution to common shareholders is sufficient. Along with its satisfactory reinvestment ratio, Geely proves that it is book report charlotte's web taking care of investors. Of The Essays. Geely automobile Holdings LimitedFree cash flow statementYear ended 31 Dec 200X| | HK$’000| 2006| 2007| 2008| 2009| Net income| 214149| 305767| 866053| 1319028| Depreciation| 1403| 2282| 141053| 364598| intereset expense| 32390| 35103| 60952| 107226| net capital expenditure| 99304. 87| 93000| 113990| 113443| working capital investment| 53483| 804772| -162918| 3311622| FCFF| 95154.

13| -554620| 1116986| -1634213| Net borrowing| 716000| 330000| 1061000| 4300000| FCFE| 584837 | 219253 | 1497987 | 5135362 | net capital expenditure = approximate expenditure in RMB* rate of exchange prevailing at the balance sheet date| 4. 0 SWOT analysis of Geely Automobile Strengths 1. Continuously Increasing Revenue Geely’s gross profit margin has continued to grow over the past few years due to successful company expansion and increasing market shares. The total sales for various kinds of Geely vehicles has accumulated to over 800,000 since 2001, and the Geely trademark has been recognized as a well-known mark in China. Format College. It has established over 200 sales service bases overseas, and durbervilles essays, performed SKD/CKD assembly production and sales in Ukraine, Russia and Indonesia and other countries. 2. Cia Research. Emphasis on tess of the, Research ; Development Capabilities. By the end of 2009, Geely owns a total of 1,600 technology patents. Geely has a professional research and exploring and essay, development team, the staff number of which exceeds 1,400, representing 12% of the total staff of the Group With its extensive investment in tess of the durbervilles essays research and development, the group’s R;D team is essay capable of tess durbervilles essays launching four to five new models every year, reflecting its leading position in R;D and technology innovation capabilities in China’s automobile sector. 3. Acquisition of format college research paper Volvo and durbervilles essays, Enhanced Green Technology.

New energy-powered vehicle is the latest trend and it will be the future of the world’s auto industry. Ford and Volvo have already invested millions of dollars over the past decade in terms of new energy technology. Acquiring Volvo may enhance Geely’s technology in new energy-powered vehicle area, help Geely take a step forward in competing with other homegrown brands, and pave the report way for Geely to tess of the durbervilles essays enter the global auto market. Weaknesses 1. Accounts Receivables Worse than Industry average Geely’s average turnover ratio of john dryden an essay accounts receivables from 2005 to 2009 is 1. 3, which is substantially lower than the industry average, 19. 47. Although the previous analysis has shown less possibilities of payment collection problem, a low accounts receivable turnover ratio still indicates that there is an opportunity cost of holding receivables for a longer period of time. 2. Image of of the Lower-end Brand Although Geely has a well-established sales network and growing competence in thesis on economy core technology, it is hard for tess of the, Geely to alter its lower-end brand image, since its original target market is low cost vehicle. But branding is about value and perceived quality, so price alone can never facilitate a victory.

Enhancing quality and ensuring that its cars are on my favourite of transport, par with the global leading brands are still a major challenge for of the, Geely. 3. Less Advanced Technology Despite the vast amount of investment in research and development, capital and talents for automobile core technology are limited, and exploring paragraph and essay, it is hard for Geely to compete with the advanced technology of foreign automobile manufacturers. 4. Unsatisfactory Sales in Export Markets Motor vehicles sales in tess durbervilles most parts of the writing paragraph and essay world market remains fragile. As a result, Geely exports business could continue to face major challenges given the fierce competition and the short history of operation in its major export markets. Of The. Opportunities 1. Continuous Growth of China Sedan Market China’s passenger vehicle market ended last year with a 59 percent year-on-year sales increase to 3rd grade web surpass the United States as the world’s largest auto market for the first year. According to tess estimate of Goldman Sachs Global ECS research report, growth in China car market will be remained for of nepal, the next 10 years and the industry GDP growth will be 11. % in 2010 and 10% in 2011. Goldman Sachs Global ECS research teams forecasts that China will further boost its No. 1 position in of the durbervilles the car market with sales reaching 30 million units per year by 2020. 2. Government Policy Support In the past few years, the focus of Chinese government policies for automobile industry is to boost sustainable growth in the economy with auto industry as one of its pillars and to support domestic participants and industry consolidation. And Essay. Threats 1.

Fierce Competition from both Domestic and durbervilles, Foreign Brand The huge profit potential of China car market brings about fierce competition among both local and foreign automobile manufacturers. Thesis On Economy. In the luxury automobile market, foreign manufacturers are in leader position due to their sophisticated technology and tess of the durbervilles essays, high brand recognition. While in lower end automobile market, local brands are strong competitors. 2. Possibility of Overcapacity in China Auto Market Some industrial experts concern that China’s market may one day face vercapacity problems. Exploring Writing And Essay. A report from the official news portal of China’s eastern Zhejiang province showed that, based on the production plan of tess of the durbervilles essays China’s 12 major auto manufacturers for the next five years, China’s auto production would reach 32. 5 million units in 2015, far exceeding the forecast of 22 million units in the blue book of China’s automobile industry. If Overcapacity problems occur, serious overproduction capacity will lead to negative market competitiveness a loss in enterprise efficiency, factory stoppages and other problems. . 3rd Grade Book Report Charlotte's Web. 0 Analyses of management discussion and tess, analyst’s opinion Appendix C summarizes some Analysts view of Geely.

However, not all Analysts agree upon whether you should sell, hold or buy the stock. Cia Research Paper. Several reasons are discussed in the respective reports; though all analysts agree that Geely is a healthy company with a stable revenue base, increasing volume and satisfactory margins. What analysts do not agree upon is whether Geely can maintain their growth potential and gain market share in both the domestic and of the durbervilles, export market. The penetration in paper the Chinese passenger car market is extremely low compared to USA and Europe (JP Morgan, 2010) and tess of the essays, as the Chinese people are getting wealthier the market potential will increase the 3rd grade book charlotte's web upcoming years. Loads of tess durbervilles Automobile manufacturer will compete to of nepal gain market share and earn extraordinary profit. Credit Suisse and durbervilles, CIMB are representing the negative analysts who believe that domestic market competition will increase as the nearest competitors have invested heavily in of transport essay the industry and developing of new brands (CIMB, 2010). Geely Management has not commented upon this in their report, but instead they emphasize they have sufficient funds to cover investments and RD expenses to facilitate their own growth. Additionally, Credit Suisse (2010) emphasize that every auto manufacturer in the Chinese market are currently investing in of the essays production facilities. Credit Suisse is therefore worried it will result in means essay an oversupply and consequently make inventories to rice. To bring inventories down a price war on vehicles can arise. This will affect margins negatively.

JP Morgan represents a positive analyst that strongly believe that the current acquisition of Volvo will result in synergy effects and a technology platform that no one else can imitate in the near future. Further JP Morgan is confident that the low penetration of vehicles in the domestic market will ensure future growth, and therefore recommends buying the stock. Tess Essays. DBS, Deutche Bank and Yuanta are recommending holding the stock, since they believe there are too many uncertainties connected to Geely and format research paper, the future. Especially they all emphasize the tess of the lack of a clear growth catalyst to outperform the market. Further, the acquisition of Volvo seems to have longer prospects before profiting than expected at first hand (CIMP, 2010). On Economy. As expected Geely’s management discussion is very positive towards the future and leaves the shareholders with the impression of a highly growing company with a healthy economy and tess durbervilles, a clear defined strategy, although it is noticed that very little space is used to comment upon the current competition in the market. Exploring And Essay. Instead Geely Management has chosen to focus at their new strategic platform and how they can develop brands and product lines into a competitive advantage (Geely, 2010). It can be interpreted as an indirectly method to essays cope with the market competition without discussing the book charlotte's situation in detail. Shareholders, however, must be aware of this matter when evaluating the business. Even though current revenue is increasing heavily one must consider how sustainable this growth rate is in durbervilles essays the future.

It can be concluded that Geely Management are slightly taking a too positive approach towards the current market conditions, since these are not discussed in depth and analysts report emphasize different issues than Geely. This analysis facilitate that there are no universal answer to report charlotte's web trading with stocks. We all wants to buy the stocks that are undervalued and sell the ones that are overvalued, and the answer you get depends on the method, forecast and strategic mindset of the analyst. Geely is without doubt a healthy company so the buy, held, sell decision lies within how you value the durbervilles essays growth opportunities, how Geely can facilitate RD and implement acquisitions and thereby benefit from synergies. 6. Paragraph And Essay. 0 Recommendation. Geely have the tess recent years had an expansion strategy, and as a consequence a high level of my favourite means of transport essay investment.

This has resulted in a higher leverage and that earnings significantly are exceeding cash flows. However this is also a natural picture of of the essays a company in an expansion phase. It is found that Geely has satisfactory interest rate coverage even though leverage is thesis on economy of nepal increasing. Furthermore, accounts receivables is found worse than industry average, but good bank agreements make it easy for Geely to meet liquidity issues. Inventory turnover is also good, as the focus on of the durbervilles, SCM systems have proven its worth. This is moreover expressed in writing the increased asset turnover which partly is the driver behind the increasing ROCE. However it is of the durbervilles essays important to note that the adjusted profit margin is declining.

The overall performance shows increased revenue/earnings, but it is very difficult to determine the earnings quality since most of the rise is due to consolidation and acquisitions. The positive free cash flow and satisfactory reinvestment ratio shows that Geely are taking care of investors. Cia Research Paper. SWOT analysis identifies possible business catalyst as RD and the new acquisition of Volvo that could create synergy effect. It is our opinion that these business drivers are rather uncertain but is tess essays very likely to succeed and combined with Geelys current healthy financial situation; we are taking a positive approach towards Geely and recommends to cia research buy the stock. Tess Of The. 7. 0 Bibliography Geely Automile Holdings Annual report 2005-2009 Investment Reports: DBS (8. June2010) Hong Kong/ China Company Focus; Geely Automobiles Holding; DBS Vickers Securities; Analyst: Miu, Rachel Credit Suisse (12. July 2010) Asian Daily – Geely Auto; Credit Suisse Analysis; Analyst: HungBin Toh CIMB (28. Sep. 010) Geely Automiles Holding LTD; CIMB Reasearch; Analyst: Cheam, The Shen JP Morgan (26. Sep.

2010 ) Geely Automiles Holding LTD – Initiating Coverage, JP Morgan Asia Pacific Equity Research; Analyst: by Li, Frank Deutche Bank (26. Aug. 2010) Geely Automiles Holding LTD; Deutche Securities Asia LTD; Analyst: Ha, Vincent Yuanta (26. Aug. Of Transport Essay. 2010) Geely Automiles Holding LTD; Yuata Research; Analyst: Wong, Johnny Websites: Reuters (http://www. Durbervilles. reuters. com/finance/stocks/analyst? symbol=0175. Cia Research Paper. HK) Appendix A: Restated income statement Appendix B: Restated Balance Sheet. Appendix C: Overview of Analysts opinion Source: Reuters (http://www. reuters. com/finance/stocks/analyst? symbol=0175. HK) ——————————————– [ 2 ]. Industry average figure reference: http:// www. stats. gov. cn [ 3 ]. Property, plant and equipment are depreciated on a straight-line basis at the following rates per [ 4 ]. Tess Of The. Goldman Sachs, China: Automobiles, May 19, 2010 [ 5 ]. Report Charlotte's. Business Monitor International, BMI China Auto’s Report 2010, November 2009 [ 6 ]. Global Times, China’s Expanding Auto Production Triggers Overcapacity Concerns, July 19 2010. Haven’t found what you want? 12-22 Newhall St, Birmingham B3 3AS, UK [emailprotected]

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A Brief Essay on Anatomical Drawing. Tess? Traditional portrait-bust of Hippocrates Lint, p. 19. #8220;Anatomy is the foundation of medicine,#8221; the classical Greek physician Hippocrates declared, #8220;and should be based on the form of the human body.#8221;(Persaud, p. 33) Certainly no faculty member of a modern medical school would contradict the ancient master on this point, yet for many centuries – indeed for millennia – anatomical study had a distinctly uneasy relationship with medical education and practice. Aristotle, the famous natural philosopher two generations younger than Hippocrates, also considered anatomical study critical to medical knowledge and practice, but he developed theories of human anatomy based only on exterior physical examination and the dissection of animals. In this important work lay the foundations for comparative anatomy, still it proved inadequate to explain the particularities of the human body. Among Aristotle#8217;s many students was the young Alexander, son of Philip of thesis of nepal Macedon, and tess durbervilles essays when Alexander earned the epithet #8220;the Great#8221; by conquering a vast territory in the third century B.C. An Essay Of Dramatic Poesie? he made Greek intellectual achievements a dominant force in the civilized world. The Greek project found perhaps its greatest expression in the Library of Alexandria, in the city Alexander established on the Nile delta. Scholars and students of many disciplines congregated there and tess durbervilles essays examined both Aristotle#8217;s comparative anatomical studies and the works of Hippocrates. The Hippocratic Corpus catalogued in cia research, Alexandria#8217;s renowned library was a collection of works by tess of the durbervilles Hippocrates himself and successor physicians practicing at his school on the eastern Aegean island of Kos.

Galen dissecting a pig. In the research paper, fifteenth and sixteenth centuries a revival of interest in tess of the durbervilles essays, Galen#8217;s work resulted in Latin translations illustrated by imaginary scenes. Shown here is the dissection of a swine with more animals being bundled in on the right. Lint, p. 22. Hellenistic Greece and Human Dissection.

The availability of the Corpus in the stimulating intellectual environment of Hellenistic Alexandria likely inspired medical scholars finally to take up the knife and my favourite means undertake systematic human anatomical studies for of the, the first time in classical history. One of these physician-scholars was Herophilus, who produced the treatise On Anatomy , synthesizing the results of many hundred human dissections. It seems probable that such thorough examinations must have been accompanied by drawings, though none have survived, and none of the classical works existing in transcription mention Hellenistic anatomical drawings. With the conquest of Alexandria by Rome, a significant detriment to the advance of john poesie medicine occurred in tess of the durbervilles, the reversal of the cultural climate favorable to human dissections . Although the great Roman physician Celsus, of the first century AD, and Galen, of the second, both refer to Alexandrian scholarship, the resurgent taboo on human dissection coupled with the loss of the text On Anatomy allowed descriptions of human anatomy presented as fact to slip back into format college research, the untested – and largely incorrect – domain of theory. Of The Durbervilles Essays? This anatomical demonstration shows the professor in full robes overseeing a dissection and an assistant poised to make his incision. Lint, p. My Favourite Means? 34. The Islamic Golden Age and Anatomy. The West owes a great debt to of the essays the Arab civilization which conquered the Byzantine successors of Ancient Rome.

While much of the western world lost touch with the classical past, Islamic scholars collected and translated the an essay of dramatic poesie, works of Hippocrates and Galen – among many others – and absorbed and synthesized the ancient theories with new discoveries of their own. Despite advances in medical scholarship, Quranic injunctions against human dissection and human representation in drawing placed severe limitations on the critical and of the essays accurate analysis of human anatomy. Later in the Medieval period, the resurgence of Europe led to paper the establishment of universities and the retranslation of classical works into Greek and Latin. In the fourteenth century, some rare human dissections were carried out at tess of the essays European medical schools, ordinarily with the anatomist seated on a dais at the head of a large room, reading from a manuscript of Galen, while a demonstrator opened the body, surrounded by students and other scholars. Modern Anatomy in exploring writing paragraph, the Renaissance. It is with the Renaissance, however, that the tess of the durbervilles essays, era of modern anatomical studies begins. A number of developments united at this time to form a genuinely new cultural system that produced revolutions in many disciplines. The invention of the printing press in the mid-fifteenth century supplanted the laborious process of hand copying and illumination, and made possible the comparatively rapid and widespread dissemination of dryden of dramatic knowledge in the form of identical books with wood-cut prints. The development of perspective in art led to much greater accuracy in the depiction of tess of the durbervilles individuals and thesis scenes, and prompted artists to make careful studies of human anatomy – including dissections – to educate themselves in the precise structure and musculature of the body.

Finally, intellectual attitudes began to break away both from the rigid structures imposed by tess essays religious doctrine and by uncritical acceptance of ancient authorities – not everywhere, of web course – but the empirical testing of theories by observation and experimentation lay the foundations for the scientific advances and documentation of knowledge that characterized the eighteenth-century enlightenment and our own modern scientific method. Studies of the shoulder and neck by da Vinci. Lind, p. 39. In terms of Renaissance anatomy, the two names most closely associated with the progression toward critical analysis and accuracy are Leonardo da Vinci and Andreas Vesalius. Da Vinci approached anatomy from the point of view of the artist, but his meticulous and inquisitive mind quickly propelled him into an anatomical project for its own sake, unfortunately never published. His more than 750 anatomical drawings – most made from observations of dissections he performed – carried the genre of anatomical illustration to extraordinary refinement. Vesalius#8217;s Fabrica is a masterpiece of accuracy and a work of extraordinary beauty as well. Vesalius, p. 210.

Vesalius, born in 1514, five years before the death of da Vinci, studied medicine in Paris, Louvain (Belgium) and Padua (Italy), where the faculty named the 23-year-old a Professor of Surgery and anatomy at the completion of his doctorate. Vesalius made a name for himself among his students by descending from the chair to tess durbervilles essays conduct dissections without an intermediary, and earned renown among the faculty and profession by successfully challenging the authority of Galen. He put the cia research paper, ancient master to the critical test and revealed errors in his anatomical theory. A series of six anatomical drawings produced by Vesalius proved so popular with his students that he published them in 1538, and here likely germinated the idea for his masterpiece, De Humani Corporis Fabrica , first published in 1543. This volume paired detailed descriptive text with carefully worked anatomical drawings, both of details and entire bodies, all rendered with extreme accuracy, not the least emphasized by the external supports given the sequence of standing figures who successively lose the essays, capacity to #8220;stand#8221; on their own as the layers of musculature are removed. In the perspective distance behind most of these figures is a continuous cityscape of Padua, a further subtle statement of 3rd grade charlotte's web accuracy or truthfulness in the illustrations, as well as an indication of the of the durbervilles, important scholarly environment within which Vesalius worked.

The frontispiece of the Fabrica likewise shows Vesalius himself at the dissecting table, reinforcing his position as a scholar not hidebound by conventional thinking. Albinus and artist-engraver Jan Wandelaer took over 3rd grade 8 years to complete this remarkable anatomy atlas with its aesthetic style, scientific accuracy, and fanciful backgrounds. Durbervilles? Albinus, table 4. From this point forward, many, many new anatomical titles appeared, some overtly plagiarized from college research Vesalius, others new studies, but human dissections and essays the goal of thesis accurate anatomical illustration never again fell away from the medical curriculum. Progress in of the, Printing Impacts Anatomy. By the eighteenth century, advances in printing technology enabled the production of larger, folio volumes with copper plate engravings of even greater clarity of detail over the earlier wood cut blocks.

The most exceptional author of this era is Bernhard Siegfried Albinus, whose copper plate engravings derived not from freehand drawings wholly dependent on the eye of the artist but from an elaborate surveying mechanism used by architects that regulated artistic talent to make accurate, verifiable measurements and on economy produce precisely proportioned details. The nineteenth century brought further technological advances in printing, particularly chromolithography, a method for accurate color printing, and changes in tess, paper production methods that lowered costs. These permitted an even greater diffusion of images and texts, making single books and prints available not simply at the level of the school or the professor, but also that of the my favourite of transport, classroom, student, and tess of the durbervilles essays practitioner. One type of publication in use at the end of the century was the on economy, anatomical chart which brings us to the inspiration for this exhibit: to highlight the anatomical charts in the Claude Moore Health Sciences Library at the University of tess Virginia.

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