25 August 2015

Urban Development

The final assignment for this course is a research paper. This paper will reflect comprehensive understanding of key concepts that have been discussed during this course. This assignment will provide you with the opportunity to apply related urban planning concepts in an academic paper. The Research Paper will contribute 25% to the course grade.
Focus of the Research Paper

The Research Paper will be based on the urban planning topic selected in the Research Paper Proposal assignment from Week Two. Based on your selected urban planning topic, analyze the key issues with the use of exhibits and an appendix. 

You must include (but are not limited to) a discussion of the historical background and contemporary issues related to the paper topic. You must also include an evaluation regarding the plausible political issues that urban planners could potentially encounter and the potential consequences that could result from decision making. Be sure to apply key concepts from this course in your Research Paper.
Writing the Research Paper
The Paper:
1. Must be eight- to ten- double-spaced pages in length (not including the title page, appendix, reference page, and exhibits) and formatted according to APA style as outlined in the Writing Center.
2. Must include a cover page that includes:
o Name of paper
o Student’s name
o Course name and number
o Instructor’s name
o Date submitted
3. Must include an introductory paragraph with a succinct thesis statement.
4. Must address the topic of the paper with critical thought.
5. Must conclude with a restatement of the thesis and a conclusion paragraph.
6. Must use at least 10 scholarly sources, including a minimum of two from the University Library, in addition to the text.
7. Must use APA style as outlined in the Writing Center to document all sources.
8. Must include, on the final page, a Reference List that is completed according to APA style as outlined in the Ashford Writing Center.
Carefully review the Grading Rubric for the criteria that will be used to evaluate your assignment.

25 August 2015,
 0

Urban Development The final assignment for this course is a research paper. This paper will reflect comprehensive understanding of key concepts that have been […]


25 August 2015

When IBM issues $200 million of new common stock, it has traded on the primary market
FIN 432 HW

Chapter 1
Question 1
a. When IBM issues $200 million of new common stock, it has traded on the primary market.
b. A new company issuing $50 million of common stock in an IPO is also trading in the primary market.
c. IBM selling $5million of GM preferred stock out of its marketable securities portfolio is trading in the secondary market.
d. The Magellan Fund buying $100 million of previously issued IBM bonds is said to be trading on the secondary market.
e. Prudential Insurance Company selling $10 million of GM common stock is trading on the secondary market.

Question 2
a.  Banker’s acceptances are money market securities.
b. Commercial papers are money market securities
c. Common stock is capital markets securities.
d. Corporate bonds are capital markets securities.
e. Mortgages are money market securities.
f. Negotiable certificates of deposit are money market securities.
g. Repurchase agreements are money market securities.
h. US treasury bills are money market securities
i. US treasury notes are money market securities.
j. Federal funds are also money market securities.
Question 8.  First we have the commercial banks. They take deposits and make it secure and convenient to access money. They also loan out money to individuals they consider worthy of credit.  Finally, they serve as payment agents inside a country and internationally. They do this by issuing credit cards, enabling wire transfers and underwriting financial transactions.
Investment banks are financial intermediaries. They link up businesses and countries by offering several services. These include underwriting debts and equity offerings, making mergers possible and acting as go-betweens/brokers for clients. They sometimes assist clients in research and by offering financial advice.
Insurance companies pool mitigatable risks by charging premiums from a big group of clients who want to protect themselves from. The risks include car accidents, fires, illnesses or disability.
Brokerage firms are the go-betweens between buyers and sellers during trading on securities. They get their compensation via commissions once the transaction goes through.
Investment companies are firms that pool resources from their different clients and invest the pooled funds. They diversify the investments and put them in portfolios that they manage professionally.
Then there are Unit Investment Trusts, which are, companies established under indentures or agreements of a similar nature. A trustee supervises the management and they sell a fixed amount of shares to unit holders. The unit holders then partake in any net income proportionate to their shares in the trust.

Question 14.

Question 17.

Chapter 2
Question 1. Capital markets are the sections of the financial systems
Where companies seek capital or funds by selling shares bonds and other long-term investments. The bonds market is a part of the capital markets.
Question 2. T-bills, T-notes and T-bonds are all securities sold by the government. However, they differ in two major aspects. T-bills are short term with lower yields, T-note are more long term with a higher yield while T-bonds last as long as 30 years.
Question 3.
Question 4.
Question 7.   A debenture has the highest risk to the bond issuer while the mortgage bond has the lowest risk. A subordinate debenture has the highest yields.
Question 10.
Chapter 3
Question 1. Stock markets are the most watched markets in the economy because any instability in this market affects the whole economy. The biggest companies that hold up the economy trade on the stock market so their performance here affects the whole economy.
Question 2. Dividends paid to common stock are typically higher than those paid to prefer but they are paid last.
Question 5. The difference between participating and non-participating preferred stock is that the owners of participating stocks share in any further proceeds with the owners of common stock even after receipt of their payment in case of liquidation.
Question 8. A market order is an order to buy shares where the buying price is not guaranteed a limit order is enjoys the guarantee of the price requested but not the execution. The limit order is executed when the preferred price is reached while the market order is executed when the share is available
Question 12.

Chapter 4
Question 1. An insurance company’s primary function is to cover clients who have paid premiums against the risks mitigated against while a depository authority clears transactions done on the securities markets.
Question 2. Adverse selection in insurance is a situation where buyers and sellers have access to different information. This situation might affect the profitability of the company since it does not have the accurate data to make decisions.

Question 5. All the life insurance policies are paid out on the death of the client and the client pays premiums up to this point. The difference is that ordinary life policies are sold to individuals, group life policies are sold to groups, and industrial life policies were sold to people who made numerous small payments while credit insurance is done in conjunction with a debt agency. 

Question 6. Annuities can be referred to as the opposite of life insurance products. This is basically because life insurance products are paid out when the client dies while in annuities the client enjoys the money in retirement.

Question 10. State guarantee funds for life insurance companies are governed by local regulations and national and federal authorities govern laws while deposit insurance for depository organizations.
Chapter 5


Question 3. There are different firms in the securities industry, and they all perform different roles. Various types of firms could duplicate some roles but on the whole their functions differ. The types of firms can be broken down using either the size and complexity of the firm or how it specializes is. There are large firms that run through the industry. They serve any client big or small. They are big enough to handle any order, from any client, from anywhere in the country. They sometimes serve international customers. Then there are those firms that are still found nationwide but they have specialized in a narrower clientele. They serve corporate clients, and they are very active in securities. Unlike the first category, they do not take retail clients. Then there are the large investment banks that serve institutions. They maintain a small network of offices, and they are mainly found in major cities. 

Firms in the securities industry can also be classified according to how specialized they are geographically, client wise and professionally. There are investment firms whose operations are concentrated in a specific region. They only serve clients from this region, and they can be large, medium or small. The large ones might cover the whole state while the smaller ones might only serve tiny towns. There are also firms that just perform trades on behalf of their client without offering any investment advice. Some firms only specialize in electronic trading.
They only provide a platform for investment to their customers without them having to grow through brokers. Then there are venture capitalist firms that pool funds from clients and invest this money to fund new businesses. All these firms occupy their own niches in the securities industry.

Question 6. Investment banks are the intermediaries in financial transactions. When a client wishes to trade on the securities markets, they approach investment banks. The banks use their resources to underwrite the deals and make them possible. They link the seller and the buyer and the seller and create a conducive environment for the transaction to take place. The banks also use their wealth of knowledge to advise clients on the best way to invest. Since they do this professionally, they have the capacity to offer sound advice. Using this expertise and the professional networks they have, they can also conduct research for the client. The main difference between investment banks and other firms in the securities industry is that they rarely invest. They just act as a link and enabler for the transaction.

Firms on the securities exchange, on the other hand are involved in the actual investment. From the venture capitalists to the investment companies, these firms invest in the market actively and maintain portfolios. Whether it is by pooling clients’ resources or selling unit trusts, these firms are active on the actual securities market. Unlike the investment banks, which are, just intermediaries, the firms in the industry are active investors. They make or lose money on the actual floor of the exchange. The investment banks get their commission no matter how the stocks or whatever securities they deal with perform. Firms in the securities industry, on the other hand, have their fortunes made by the market. Since they are active investors, their fortunes rise and fall with the market. They are exposed to the same risks as their clients, and their only mitigation is their expertise.
Question 7. Though both private placements and public offerings are ways to grow finances, they have some fundamental differences. In a public offering, there is no discrimination as to the type of investor who can buy shares. The company sets the price and floats the shares in the stock exchange where all investors have a chance to buy into the company. Public offerings are mainly in the form of an IPO; initial public offering. Here the company offers its shares for sale to the public for the first time. Any subsequent offerings are only done when a company needs to sell equity to get an infusion of cash. The public offerings are meant to invite the public to be a part of the company. The public gets to share in the success of a company if they buy its shares. It also allows the public who buy shares a say in the future of the company. When a company offers shares to the public, it gets access to a diverse group of people. It will therefore have shareholders who are a cross section of the community it serves. 

Private placements, on the other hand are done away from the public. The company offers its shares to a select group of investors. The investors tend to be people with a certain track record and accreditation. They will most times be people wit means with a high income and net worth to be able to invest substantially. The offering is done in private, and the pitches are targeted at this people. There is no media blitz or awareness of the impending placement. The pitching is focused on the select group of investors, and it is most times personally delivered. Unlike in the public offering, the investors that invest in private offerings end to be from the same background and the same financial class. They do not represent society as a whole as they are more often the elite.

Question 8. In best efforts underwriting, the underwriter promises to do his best to sell as many shares as possible. He does not guarantee that he will sell all the shares, and he does not take responsibility for any unsold shares thereof. Underwriters undertake this kind of underwriting with securities that are not stable. They might also do this
if the market conditions are not ideal. The situation provides the firm with a kind of indemnity in case the entire stock is not sold. On the downside, the firm does not gain as much financially as the payment is a flat rate. The firm covers it but gains less than it would have. Firm commitment underwriting, however, ties the firm’s fortunes to the performance of the offering. The underwriter buys the whole issue and he then has the responsibility of selling it. The firm’s profits are based on the number of shares it manages to sell. This ensures that the firm has a maximum interest in the success of the offering, and it would do its best to sell the shares. It also covers the company offering the shares from

losses.

If I had a company, I would prefer the firm commitment when raising money from the market through an IPO. The firm commitment is better as it will assure me of funds even before the shares are sold and protect me from potential losses if I don’t sell all of my company’s stocks. It is the best option in this situation. However, if I was to look at the prevailing conditions and realize that the market conditions were not favorable, I would settle for the best offer underwriting. It would probably be the only option at that point. It would also mean I part with less of my capital and funds to make the deal happen.
Question 9. Venture capital is money provided start-ups and small businesses with the potential to grow in the long term. The venture capitalists do their research and observe the businesses with potential. The business owners or creators themselves might also look for these investors and pitch their ideas. Venture capitalists are often seasoned investors who know how to find good deals. They have the expertise and experience to gauge start up business and separate the ones with potential from those dead in the water. They are not always right, but they get it more often than not. Venture capitalists put up substantial amounts so to play in these leagues one must be a person of means. Most of these deals are also long term in nature meaning that those wanting to be venture capitalists must be patient.

When buying into a company, venture capitalists buy equity. This gives them ownership of a piece of the business thereby granting them a say in the running of the company. Some venture capitalists might come in with their managerial expertise and help in the running of the business. Since they are seasoned veterans in business, they might have skills that the founder of the business does not possess. The stature of the venture capitalists also gives the business some credibility. A business I judged by the caliber of investors investing in it so if the venture capitalists have a reputation as savvy businessmen, the reputation will be transferred to the business.

Question 13. When buying shares, most people do not understand the processes that go on behind the scenes. The buying and selling of shares are done through two main means; principal trading and agency trading. In principal trading, the firm buys the shares with its money and holds them. It hopes to make money when the prices of the shares appreciate.
When a customer makes an order for the purchase of shares, the firm fills it from its own inventory. The firm, therefore, owns the shares before selling them to customers. This style enables the brokerage firm to make money over and above the commissions paid by the customers. The profits accrued from selling the shares when their prices appreciate are a boost to the bottom line of the company. The maneuver, on the other hand, exposes the firm to losses if the share prices collapse suddenly. The company will bear the losses and have to recover the money from its own sources.

Agency trading is much more complicated than principal trading. It involves the matching of a buyer from one firm with a seller from another firm. The buyer's firm, on receipt of the order, goes on the market to find a person willing to sell at the price demanded by the buyer. The firm then coordinates with the buyer’s firm and they exchange cash and securities. Once this is done, the transaction has to be cleared by the Depository Trust Clearance Corporation. The clearing involves matching the transactions buys and sells. After the DTCC has done the clearance, it informs the firms of their obligations, and they complete the transactions. 


Chapter 6
Question 1. A mutual fund is gets money from various investors and invests it. The fund puts the money in stocks and other securities.

Question 2. The investors in a mutual fund are able to invest in securities that they would not have been able to afford on their own. They also get their portfolios managed by professionals.

Question 6. The difference between the risks faced when investing in short term bonds and when investing in long-term bonds is the possibility of interest rates rising. There is a bigger risk of this when dealing with long-term bonds.

Question 9. In 1988, the regulatory guidelines on mutual funds changed. They now made it mandatory for mutual fund managers to tell their clients about all the risks associated with the venture during advertising.

Question 10. The three components of return that an investor expects from a mutual fund are the dividends, income and capital gains.


Question 12

25 August 2015,
 0

When IBM issues $200 million of new common stock, it has traded on the primary market FIN 432 HW Chapter 1 Question 1 a. […]


25 August 2015

Forget what the guy down here said

The guy down here doesnt know what he is talking about. Il assume he is an armature. Writing has been there since 2006 upto now. We have had web article in 2008 that said the academic industry was going to die in a year or two. Its now 2014 and stil;l academic writing still flourishes on. Let me tell you why academic writing is no where near turmoil and why everyday writing companies keep coming up. It is because students will always need assistance unless there is no education and writers will always retire. I have many friends who made their share in writing and now they dont want to hear about it because it has passed their time. So like it or not, academic writing is here to stay if you dont believe me you can check this blog and why it is legal http://lukekit.blogspot.com/2014/02/is-academic-writing-illegal.html. So we should make it possible for us to have the best experience yet. Let us not be influenced by the pussies who think that support is there friend. Your time is coming my friend. All I am suggesting is we tackle this with maturity. I know it is immature to post this order but how else would i communicate. So let as just address this issue by not bidding for a day or two so that we can have it good. None of the academic websites have these bullshits happening, comeone let us not divide

25 August 2015,
 0

Forget what the guy down here said The guy down here doesnt know what he is talking about. Il assume he is an armature. […]


25 August 2015

The history of social movements in the United States has involved a number of people we do not traditionally hear aboutPaper instructions:
The history of social movements in the United States has involved a number of people we do not traditionally hear about. Write a profile of an important activist.

Edward Abbey, Environmental Activist


Make sure you include in your summary what kind of influence the person had on society and what were the major contributions the person made. 


25 August 2015,
 0

The history of social movements in the United States has involved a number of people we do not traditionally hear aboutPaper instructions:The history of […]


25 August 2015

Am Going To Give It to You StraightPaper instructions:
Hey. I know as writers we may not be happy with the new system, but it is the high time you know where you are ranked by this food chain called capitalism. The website may decide to blacklist your country as a whole and hire elsewhere and there is nothing you can do about it. When they say jump, you ask how high…copy that? Academic writers are easily dispensable and for that reason, they have no rights to say anything. If you feel dissatisfied, just leave for other companies and dont mess the pie for others who are willing to make the sacrifice. Bottomline is that by the end of two years, academic writing will be flooded, instead of biting the hand that feeds you, why dont you make your cold hard cash and leave the industry before it becomes more messed up? I can assure you things will only get worse, no matter where you run to. Also look at the brighter side, they increased the salary per page, how many of you have complained about that?

25 August 2015,
 0

Am Going To Give It to You StraightPaper instructions:Hey. I know as writers we may not be happy with the new system, but it […]


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