THE MAJOR EVENTS
The graphs below summarise the fluctuations in the share price and
shareholders’ returns of Vodafone group, as a result of two major
events which occurred in mid February, 2004 and mid November of the
same year.
On the 22nd 0f January 2004, AT&T Wireless, the third largest mobile
phone group in the US, put itself up for sale but as shown above in
Fig1, this does not seem to have affected the share price or volume of
trading as there was no significant upward or downward trend in these
two areas. This can lead to an assumption that the market is
inefficient as it did not respond to the information or that investors
were not expecting Vodafone to bid for AT&T Wireless because Mr Sarin
had told investors and analysts that he was "happy" with Vodafone's
joint venture with Verizon, the leading mobile phone operator in the
US.
Had Vodafone succeeded in acquiring AT&T Wireless, it would have had
to sell its profitable stake in Verizon back to its partner, Verizon
Communications - a prospect that did not appeal to its shareholders
and so may be why the new information was not relevant to the
Vodafone.
“9th February 2004, saw the Vodafone Group Plc announcing that it will
continue to monitor developments in the US market and is exploring
whether a potential transaction with AT&T Wireless is in the interests
of its shareholders”. This lead to a decrease in share price as
investors knew that it would mean that Vodafone would have to sell its
profitable stake Verizon to buy AT&T Wireless. The steep drop in Fig 1
suggests that the market was efficient in its reaction to this
announcement.
The formal bidding war began on the 13th when Cingular made an initial
offer of $30bn, and the offer was matched by Vodafone. Cingular then
raised its bid to $35bn which was again matched by the British
company. When Cingular raised its offer to $38bn, Vodafone once more
matched the bid and this suggested to investors that Vodafone would
pay too much for AT&T Wireless, which is why the share price dropped
each day till bidding ended on the 17th. “On 17th February 2004,
Vodafone withdrew from the auction when it concluded that it was no
longer in its shareholder's best interests to continue discussions”.
We can see that there was a 5% increase in the share price when this
was announced, and the volume of trading shows the markets
informational efficiency Since news emerged that Cingular had made an
informal offer in mid-January, Vodafone's shares have underperformed
the rest of the market, cutting the value of the company by more than
Anheuser-Busch Companies, Inc. continually seeks opportunities to maximize shareholder value and increase efficiency. Through their extremely effective marketing
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The stock price is currently 103.31, down from a recent high of 121.50. The P/E ratio is declining at 28 and beta at .67, which is expected to grow closer to 1.0. A recent earnings surprise last December yielded a 15% difference from the lower expectations and the latest earnings reports late last month also surprised investors. Estimates for the 2000 fiscal year are being raised by a large majority of analyst who believe that earnings per share will increase and the stock price will reach close to 150.
Some of the most intriguing stories of today are about people’s adventures at sea and the thrill and treachery of living through its perilous storms and disasters. Two very popular selections about the sea and its terrors are The Perfect Storm by Sebastian Junger and “The Wreck of the Hesperus” by Henry Longfellow. Comparison between the two works determines that “The Wreck of the Hesperus” tells a more powerful sea-disaster story for several different reasons. The poem is more descriptive and suspenseful than The Perfect Storm, and it also plays on a very powerful tool to captivate the reader’s emotion. These key aspects combine to give the reader something tangible that allows them to relate to the story being told and affects them strongly.
As I mentioned earlier shark fishing is a cruel and inhumane practice by humans of cutting the fins off of live sharks. This wasteful technique uses about 1 percent of the sharks total body weight. Shark finning has been going on for thousands of years, but with the demand growing and the black market prices rising we are finding ourselves scrambling to try to help conserve our sharks.
In both “The Fourth of July” and “Black Men and Public Space” the narrators did one very important thing; they expressed how the encounter made the narrator feel. This is crucial because it almost allows the reader to share the feeling of helplessness that was felt. In “The Fourth of July”, Lorde explained how she truly did not understand why the family was treated differently. She tells of her parents’ fruitless effort to shield their children from the harsh realities of Jim Crow by planning out virtually the whole trip. The highlight of the story is when the narrator expresses both anger and confusion at the fact that her family was denied seated service at an ice cream parlor because they were black.
Politics is the art or science of government or governing, especially the governing of a political entity, such as a nation, and the administration and control of its internal and external affairs. The Olympic Games is an event held every 4 years, which includes a variety of sport activities in which different countries compete against one another. “Sport is frequently a tool of diplomacy. By sending delegations of athletes abroad, states can establish a first basis for diplomatic relations or can more effectively maintain such relations” (Espy 3). One might think that politics and the Olympics have nothing to do with each other, but in fact they do have a lot in common. How did politics affect the Olympic Games in 1936, 1968 and 1972?
One reason for the existence of racism is the belief’s about group inferiority. Many belief this is due to the result of flawed genetic traits. Thus claiming African Americans, Latinos, and Native Americans are biologically structured to be inferior to Caucasians. Their different genetic traits explain their differences in social success. However, the National Geographic’s Genographic Project helps to further explain that all of these so called “races” actually came from one single group of people as they stated that “all humans today descend from a group of African ancestors who—about 60,000 years ago—began a remarkable journey”. By way of migration and adaptation, races were eventually and unintentionally formed. (Genographic Project) Over these thousands of year, people have come to live in a world that is defined by the way they look, their skin color, the way they speak, and their learned culture, among many other factors. So in actuality, there is no such thing as biological races, and races are socially defined. A second explanatio...
Race by definition is a group of people identified as distinct from other groups because of supposed physical or genetic traits shared by the group. However, most biologists and anthropologists do not recognize race as a biologically valid classification, in part because there is more genetic variation within groups than between groups (definition of race, n.d). In the United States, both scholars and the general public have been conditioned to viewing human races as natural and separate divisions within the human species based on visible physical differences. However, traditional race concepts give an inaccurate picture of human variations which is indicative that each group has a significant level of uniqueness (Race and Human Variation).
Race, in my opinion, is a man-made idea that was formed by humans understanding of the outside world. A fifth-century Greek philosopher by the name of Protagoras made an important claim that, “man is the measure of all
If race does not differentiate humans from one another genetically, then why does it matter? Several studies document that "race" has been shaped by cultural, political, ideological and legal functions in society. That is, "race" is a social construct; ...
If company is to perform well and earnings show growth consistently, investors see it as a potential stock, market price will rise regardless of good or bad
Desmond and Emirbayer defined race as “a symbolic category, based on phenotype or ancestry and constructed according to specific social and historical contexts, that is misrecognized as a natural category.” Symbolic category in race refers to form to which we identify a certain person. The symbolic categorization of race is based on phenotype or ancestry, which means it is determined by perceived physical characteristics which people believe are inherited and biological. People often simplify the categorization to White, Black, Hispanic, and Asian “races”. (Golash-Boza, 2016). Race is socially and historically constructed. The idea of race was formulated during powerful historical moments and places. It is a label, given by people. In turn,
Introduction Today, the Olympic Games are the world's largest pageant of athletic skill and competitive spirit. They are also displays of nationalism, commerce and politics. Well-known throughout the world the games have been used to promote understanding and friendship among nations, but have also been a hotbed of political disputes and boycotts. The Olympic games started thousands of years ago and lasted over a millennium.. The symbolic power of the Games lived on after their demise, and came to life again as the modern Olympic Games being revived in the last century. Both the modern and Ancient Olympics have close similarities in there purpose and in there problems.
There is big money to be made from the sale of stolen fish and small penalties for those who are caught breaking the rules. The high demand for high-end seafood drives this illegal taking of fish. “Too many boats chasing too few fish make legal fishing an increasingly difficult business”. One Australian poacher’s annual income exceeded $1,000,000 back in 1997. In addition, the fact that it is a worldwide issue, with different countries trying to enforce laws while other countries are paying the fisherman to break the laws, it’s a no win situation. Vidal Armadores is a company in Spain “charged with more than 40 violations, including targeting protected species and using destructive fishing gear”, fined $400,000 for importing stolen fish in Miami, FL. This same company received subsidies of nearly 10 million euros from the European Union and the government of Spain. An example of some of the penalties and fines are described in a table on oceana.org website include: United States, Shifco, Inc. Lacey Act Violations, value of catch up to $1,000,000, penalty $3,500, profit $996,000. Also the United States, Stephen Delaney, Lacey Act Violation, value of catch $203,000, penalty, $5,000, profit 198,000. Also Uruguay, Illegal fishing in Southern Ocean, value