Wine Industry Financial Analysis DESCRIPTION OF BUSINESS Canandaigua Brands, Inc. (formerly Canandaigua Wine Company, Inc.) is a producer and supplier of wine and an importer and producer of beer and distilled spirits in the United States. It maintains a portfolio of over 130 national and regional brands of beverage alcohol which are distributed by over 850 wholesalers throughout the United States and selected international markets. Its beverage alcohol brands are marketed in three general categories: wine, beer and distilled spirits. Brands include: Paul Masson, Manischewitz, Monte Alban, Almaden, Barton’s Gin and Corona Beer. MANAGEMENT PERFORMANCE Management performance is good. Canandaigua’s return on assets is better than the industry standard for 1998, and just under the industry standard in 1997. The company’s management has been able to improve the company’s ROA by almost doubling net income from the prior year. Management has in the past done a good job of utilizing its assets, and by the latest results is doing an even better job. Canandaigua’s gross margin(25.62) is less than the industry standard(43.80%). It appears that the company’s production costs are greater than others in the industry. Profit margin(6.78%) is greater than the industry standard(6.64%) in 1998. Canandaigua is very good at controlling selling & general administrative expenses. Higher sales in 1998 resulted primarily from additional beer sales, largely Corona Beer sales, additional table wine sales and additional spirits sales. The company has increased its return on common stockholder’s equity(12.84%), compared to the industry standard of 10.89%. Canandaigua does a fair job of controlling borrowing. Interest expense was reduced by ... ... middle of paper ... ...ompany’s operating cycle is very lengthy. Although, assuming most payables are due net 30, Mondavi appears to pay their bills on an average of 3.8 days early. LONG-TERM LENDORS From a lendor’s perspective, Mondavi appears very strong in its ability to repay long-term debt and interest despite having a debt to asset ratio 35% below the industry average. Mondavi has a very low probability of bankruptcy with or without the market cap being considered. Accordingly, Mondavi would be a good candidate for a general line of credit from lendors. INVESTORS Mondavi’s stock appears to be over valued by approximately 100% compared to 1997 and 1998’s per share market value. According to the EPS ratio, such over valuation appears to be consistent from ’97 to ’98, according to the EPS ratio. Therefore, it seems that investors would be hesitant to purchase Mondavi’s stock.
“Feudalism was a political and economical system in Europe from the 9th to about the 15th century.” Japan also had time periods that can be called feudal age including: Heian, Kamakura and Tokugawa. Medieval Japan shared a lot of similarities with medieval Europe, however, there are also many differences. One of the differences is their warriors who played vital roles fighting for their country in both Europe and Japan. In medieval Europe they had knights, and in medieval Japan they had samurais. European knights and Japanese Samurais were different in training, armor, weaponry, true values and codes.
For instance, a few swords (the sword is a very important weapon during the Elizabethan era) were utilized as a part of a pushing movement, while some different swords were utilized as a part of a striking movement. In any case, swords were not by any means the only weapons of this time. There were bows and bolts, and also the weapons that knights utilized as a part of fight, and even some early guns discovered their roots in the Elizabethan era.
In medieval Europe there were many different weapons and types of fighting. It depended on the time period they fought in. “A soldier's choice of armor depended on the time during which he lived, the type of fighting he did and his economic situation” (Blackwell 1). Some types of fighting were hand-to-hand, which were swords, axes, and many more. Another type would be projectiles, like crossbows, javelins. The last one would be firearms which guns and others. “Many medieval soldiers wore armor to protect themselves from the weapons of their enemies” (Blackwell 2). Siege weapons such as catapults helped armies break into castles and towns. Most soldiers carried some blades in addition to their swords. “A dagger had a hilt like sword and a double-edged blade that was typically between 6 and 12 inches long” (Blackwell 1). Medieval soldiers used many weapons for hand-to-hand combat. All knights carried a sword with them and were expected to be skilled at swordplay. If you could afford swords then there was always something cheaper like the Quarterstaffs, which are long...
Clarkson Lumber is a company experiencing rapid growth but with a constant cash flow crisis. This is not an unusual confluence, but it does require some financial decision-making. Their current state of under financing makes a number of their ratios look poor.
The first method we will review is the accounting method. Through this accounting approach we will analyze specific ratios and their possible impact on the company's performance. The specific ratios we will review include the return on total assets, return on equity, gross profit margin, earnings per share, price earnings ratio, debt to assets, debt to equity, accounts receivable turnover, total asset turnover, fixed asset turnover, and average collection period. I will explain each ratio in greater detail, and why I have included it in this analysis, when I give the results of each specific ratio calculation.
Medieval Weapons were (are) very dangerous. They Can kill, puncture, wound, hurt, or anything else. All weapons From the Middle Ages were looked upon as frightening and crucial Tools to kill. From a small dagger to a large cannon; all weapons Would kill, no doubt about it. A lot, in fact most of the weapons were used for siege and Defense against castles. Castles were the most integral part of the Middle Ages. They held the king, the servants and anyone else Important. If you wanted land or money, a castle was the perfect Place to hit. Movable Towers were just one thing used to lay siege on These castles. Not necessarily a weapon itself, it held Weapons…knights and peasants. Knights and (or) peasants carried many weapons depending On what specialty they had. Some carried bows-and-arrows, others Maces, some swords, some knifes, etc. A mace was a metal ball with metal spikes welded on the Ball. A chain was attached to a wood stick onto the ball. The Mace would not kill only torture. Other siege weapons included the ballista, a HUGE Crossbow- like slingshot that could send a huge tree trunk 3 football fields Long. The ballasta was manly for breaking down castle walls, or for scattering A heavily guarded area. The most commonly used weapon was the sword. It was a long metal Object that was very sharp on both sides. The sword could actually cut the Sheet metal on modern day cars. Imagine this power through your neck! Next to the sword, the "soldiers" held a small dagger in a pouch on Their belt. This was used to finish people off, as a last resort, or sometimes Even suicide missions. Trebuchet, the name strikes fear in people's eyes, a HUMONGOUS Slingshot that could send a big monkeys boulder 2 football fie...
The Osoyoos Indian Nation has prospered over the years through leases and joint ventures. This has allowed them to develop successful businesses, such as NK’MIP Cellars, which is North America’s first Aboriginal owned and operated winery (OIBDC) The Band is currently looking for investment in multiple business projects, including Canyon Desert Golf Villas, Senkulmen Business Park and Spirit Ridge Resort Phase Two (OIBDC). Their land has great potential for opportunities in agriculture, eco-tourism, commercial, industrial and residential developments. They are constantly expanding their economy, which means an increased demand for investments and loans. If TD sets itself up as a reputable bank for the Band, they will look to TD ahead of other banks for their investment or borrowing
Analyze and compare the Old World Wine Industry to the New World Wine Industry (please note: you must show evidence that you conducted two separate industry structure analyses). Which of the two industry environments is more attractive for incumbents (those competing in that industry)? Why?
The Boston Beer Company is able to obtain relatively low-cost funds for their working capital and expenditures. The company is constantly in search of the lowest cost items without suffering the quality of their products. The company has thrived and has been able to expand to become successful due to their ability to achieve this.
...rs, setting a good trend for the corporation. They also have a very low debt-to-equity ratio, indicating that they have enough equity to easily pay off any funds acquired from creditors. As a creditor I would feel safe in lending them funds for any future projects or endeavors.
4. Harry Davis’s common stock is currently selling at $50 per share. Its last dividend (D0) was $4.19, and dividends are expected to grow at a constant rate of 5% in the foreseeable future. Harry Davis’s beta is 1.2, the yield on T-bonds is 7%, and the market risk premium is estimated to be 6%. For the bond yield plus risk premium approach, the firm uses a 4% point risk premium.
Some examples of these weapons have been in an article mentioned and created by Freelance writer and web designer Cory Barclay, posted on the social media company, “The Richest”. All of these weapons were designed between the years 672-1491, weapons that were mentioned included, The Flail, Greek Fire, Fire Lance, The Steel Crossbow, The Mangonel, English Longbow, Pike, Longsword, Counterweight Trebuchet, Cannon, The Organ Gun, and the invention of gunpowder, even though gunpowder was not a weapon that a infantry man could fight with. It was a powder that could make other weapons work.
...be loved and Everbe and Lucius set a perfect example of this love. But, in today’s world many people have forgotten how to show love to their neighbor. Some people have grown too self-centered, while others claim they are too busy, but for certain, everyone needs to make the time to at least show the same care and respect for their fellow man as they would want their fellow man to show them. Such as with Odysseus and Athena, Athena saw the good in Odysseus, his ability to do good even when the men around him weren’t, Odysseus looking up to her for her motherly care, wisdom and guidance (RWM). She became his Everbe while he plays the role of her Lucius. Faulkner spins a web around Lucius and Everbe, intertwining them from their first meeting and tying them closer and closer throughout The Reivers, as they change each other’s lives with their influence on one another.
War was important to make the civilizations expand. Fist of all, the kings needed a good army with the best weapons they can get. To win battles, they used cavalries and a larger army near the borders of cities. In ancient times, the sword is a famous weapon because there were no enough mortars and guns back then. Some swords that were invented are the claymore which is the traditional long sword with a long handle used for more powerful attacks. For instance, the saber was popular because it had a curved single-edged blade and was long. It would be used in a heavy cavalry. There were also bows that can be used like a ballista which has a long, strong arrow with enough force to destroy an army. Reloading was a hassle so it was greater in large numbers. Knights first used chain mail and then moved on to plate armor which was strong enough to resist a sword slash.