1.- INTRODUCTION
Rumasa (Ruiz Mateos Joint-stock Company) was a Spanish holding company of companies expropriated by the Spanish government of the PSOE (SPANISH SOCIALIST PARTY) on February 23, 1983, by virtue of the Decree - law 2/1983. The group Rumasa, in the moment to the regulation be published, was constituted by 700 companies, with a staff that was reaching 65.000 persons, invoicing approximately 350.000 million pesetas (more than 2.000 million Euros) annual.
2.- ACTIVITIES OF THE COMPANY
The company was growing and diversifying his activities, turning this way into a corporate group that some were resting to others. Rumasa was present, between others, in the following sectors:
It pays: Bank Atlántico, Bank of Sherry, Banking Masavéu, Exbank, AVA, Eurobank, Banfisa...
Hotel and catering business (Hotel management): Chain hotel "Hotasa", whose hotels had name of animals and plants(floors): " The ", greyhounds " The hound ones "...
- Wine production: Warehouses Paternina, Garvey.
- Department store: Galleries Boasted, popularly known as "Galleries".
- Shops of luxury: Loewe.
-Education: College Izarra.
The emblem of the whole corporate group was a bee, symbol of laboriousness, contained in a hexagon. The Holding company was producing a magazine for his personnel: "The Beehive ".
In the moment of the expropriation, in 1983, the group Rumasa 700 companies constituted it, with a global insole (staff) of 65.000 persons and a turnover (invoicing) of 350.000 million pesetas.
3.- EXPROPRIATION FOR THE STATE.
On February 23, 1983, the Ministers' Council of the Government of Spain decrees [1] the necessary expropriation of the holding company under the protection of the forecasts contained in the articles 33.3 and 128.2 of the Spanish Constitution. The reasons adduced in the decree of expropriation are:
* The repeated lack of external audits to the banks of the group as of his more important societies (from the year 1978).
* The permanent obstruction to the activity inspection of the Bank of Spain.
* The disproportionate risks assumed by the banks that were financing internally to the group with respect of the solvency of the group.
* The inattention to the multiple warnings of the monetary authorities to RUMASA, recommending a more prudent politics (policy) of investments and a disregards of risks.
* The risky spiral of acquisitions and investments of the group.
The government used the expropriation, instead of the least traumatic formula of intervention of only the banks, for the complexity of the studding of the group and on not having considered the problems like relating to the moment, but structural.
Instead of the current administration making a swift and decisive action to deal with these insolvent institutions, there were many bureaucratic attempts to delay action so that the problems would not become a polit...
Bernd C Kieseier, and Hans-Peter Hartung. Also used for this paper was the article “The risk of
A beehive is a symbol of a highly organized community that produces something while providing a safe and caring environment for
The new concept focus was on the service side of the industry with pet grooming, pet hotel, and training. The pet hotel concept has continued to allow profits continued to growth. The external competition for the Pet Stores industry is expected to remain constant. Offering more innovative, specialized, and premium products and services, pet stores have been able to cash in on pet owners’ desires to pamper their pets.
6. As Suarez, would you invest in the Sanchez/ Deltex joint venture as proposed in the case? Why or why not? Can you suggest a joint venture arrangement that is more attractive to both PepsiCo and Deltex?
The presence of systemic risk in the current United States financial system is undeniable. Systemic risks exist when the failure of one firm may topple others and destabilize the entire financial system. The firm is then "too big to fail," or perhaps more precisely, "too interconnected to fail.” The Federal Stability Oversight Council is charged with identifying systemic risks and gaps in regulation, making recommendations to regulators to address threats to financial stability, and promoting market discipline by eliminating the expectation that the US federal government will come to the assistance of firms in financial distress. Systemic risks can come through multiple forms, including counterparty risk on other financial ...
It is proper to present a business definition of merger as it found on legal reference with the ultimate goal in the pursuing of an explanation on which this paper intents to present. A merger in accordance with the textbook is legally defined as a contractual and statuary process in which the (surviving corporation) acquires all the assets and liabilities of another corporation (the merged corporation). The definition go even farther to involve and clarify about what happen to shares by explaining the following; “the shareholders of the merged corporation either are paid for their share or receive the shares of the surviving corporation”. But in simple terms is my attempt to define as the product or birth of a corporation on which typically extends its operation by combining with another corporation. So from two on existence corporations in the process it gets absorbed into becomes one entity. The legal definition also implied more than meet the eye. The terms contractual and statuary, it implied a process on which contracts and statuary measures emerge as measures to regulate, standardized, governing or simply at times may complicate whole process. These terms provide an explicit umbrella and it becomes as part of the agreement formulating or promoting a case for contracts to be precedent, enforced or regulated in a now or in the future under a court of law under the Contract Business Law Statue of Practice. As for what happens to the shares of the involved corporations no more explanation is needed as the already actions mentioned clearly stated of the expectations of a merge’s share involvement.
Laraway, D. (2011). The 'Standard'. Borges and Company: The Corporate Body of La Lotera en Babilonia. Bulletin Of Spanish Studies: Hispanic Studies And Research On Spain, Portugal, And Latin America, 88(4), 563-585. doi:10.1080/14753820.2011.583131.
In order to control the situation in Colombia, Chiquita decides to pay paramilitary groups. Due to changes in legislation, the ethical problems change to legal and political and thus become a big business risk. A decision must be made that will solve business and legal issues and will satisfy the situation in the country. Situation During the period between 1997 and 2004 Chiquita Brands International represented by the Colombian subsidiary Banadex S.A. paid a total of US$1.7 million to the paramilitary group AUC in Colombia. The purpose of these payments was the protection of their employees in a country that has become a source of violence and lack of government due to several problems.
Obviously, financial establishments can endure breathtaking misfortunes notwithstanding when their risk management is top notch. They are, all things considered, in the matter of going out on a limb. At the point when risk management fails, be that as it may, it is in one of the many fundamental ways, almost every one of them exemplified in the present emergency. In some cases, the issue lies with the information or measures that risk directors depend on. At times it identifies with how they recognize and impart the risks an organization is presented to. Financial risk management is difficult to get right in the best of times.
It has been a worldwide pioneer in deals and administrations for right around seventy years. This is a component which gives the organization its name and status, which is approached with deference and connected with unwavering quality and continuance. Considering the previously mentioned positive social components,э the organization still needed to endure misfortunes because of unmistakable qualities and disposition of the buyers and procedures GM that forced in a few nations. Reduction was the new pattern of the clients and GM needed to adjust to remain in the market. Consequently, the massive and devouring motors must be supplanted with high innovation fuel productive ones, for example, cross
The Portman hotel is one of the luxury hotels in the hotel industry. The size of the hotel is relatively small; it has only 348 rooms and 21 floors. The objective of this hotel is to bring Asian hospitality to the US. This hotel is different from other hotel because it offers the services of personal valet and also it had “ no rules for the guests”.
The main problem of this enterprise is that it is an American and west European company in an west Indies region. The racial problem is obvious. The man who is wanted to come in the front of this Barracania branch, Rennalls, has a lot of political influence ' by being the son of the minister of finance and economic planning ' and is also the most fit for the job ' studied at London University where he had taken first-class honors in the BSs engineering degree, but has only one defect, he is a local.
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Alternative: It will kill the company if other competitors buy La Indeca (Mabe, Whirlpool, LG, Samsung in Mexico)they would take market shares from Atlas Eléctrica and by the time wipe out the company from Central America where Atlas Eléctrica has the biggest market shares.