K-Mart Chapter 11 an Example of the Topic Business Essays by

K-Mart Chapter 11 by Expert Marvellous | 16 Dec 2016 A Chapter 11 bankruptcy allows a business, Kmart in this case, to attempt to stay in business while a bankruptcy court supervises the reorganization of the companys obligations. With chapter 11, the court can grant either partial or complete relief from the companys current debts and contracts allowing the company to attempt to make a fresh start. What happens often if the companys debts exceed their assets, the companys owners or stockholders will receive nothing. The companys creditors would then end up with ownership of the company once it reorganizes (U.S., 2007). Need essay sample on "K-Mart & Chapter 11" topic? We will write a custom essay sample specifically for you Proceed Kmart had been struggling for awhile with sluggish sales and competition with Wal-Mart and Target. Kmart was hoping the holiday season of 2001 would improve their financial situation and held off filing for Chapter 11 bankruptcy to see how much financial improvement they would see after the holidays. However, they were to have a disappointing end-of-year holiday season which didnt help their situation. Kmart failed to pay its top food provider, Fleming Companies Inc. $78 million (Kmart, 2002). Therefore Fleming Companies only left the perishable items it was delivering to Kmart and didnt unload the rest of K-Marts shipment. Students Frequently Tell EssayLab specialists: I'm not in the mood to write my paper. I want to spend time with my girlfriend Professional writers propose: Original Essays For Sale Buy Written Essays Do My Online Classes For Me Write My Essay Online Reviews Kmart then began closing its weakest stores. Kmart Corporation filed for Chapter 11 bankruptcy on January 22, 2002 in the United States Bankruptcy Court, Northern District of Illinois, Eastern pision, Docket No. 02-02474 (Kmart, 2002). Its stock plunged nearly 60% on this day and their stocks closed at 70 cents. Kmart chose the Chapter 11 bankruptcy route hoping it would buy the company enough time to get the company reorganized and hopefully on the road to visibility by 2003 (Buy, 2002). Kmart listed its assets when filing for bankruptcy to be $16.3 billion, with $10.3 billion in total debts (CNN, 2002). This figure makes Kmart the largest the largest retailer to declare bankruptcy. This filing wasnt at all surprising to analysts at the time who had been predicting Kmart would file for bankruptcy. Kmart has been making almost $40 billion a year in sales. As of the end of 2001 Kmart had approximately 275,000 employees in its 2,105 stores. The restructuring affected over 60,000 employees and about 1,000 management personnel (Iwata, 2002). Kmart had announced that it will fund its turnaround with the $2 billion senior secured debtor-in-possession (DIP) financing it secured in financing from J.P. Morgan Chase Bank, General Electric Capital Corp., Credit Suisse First Boston and Fleet Retail Finance Inc (Kmart, 2002). Although the financing was subject to bankruptcy court approval, it helped Kmarts cash flow while Kmart went through the process of restructuring (Kmart, 2002). By mid-January 2002, ratings agencies downgraded Kmarts credit, Kmarts stock plunged and its stock was removed from Standard s benchmark index of 500 leading stocks. Kmart is the largest retailer in history to seek court protection from creditors (Kmart, 2002). The U.S. Trustee which represents the bankruptcy arm of the Justice Department, appointed committees to represent the interests of Kmarts creditors and stockholders to work with Kmart in developing a reorganization plan that would allow them to get out of debt (World, 2002). They had to create a plan that would be acceptable to Kmarts creditors, bondholders, stockholders while at the same time confirmed by the court. However, the court has the power to disregard the vote of Kmarts creditors and stockholders and confirm Kmarts plan if the court finds that the plan treats creditors and stockholders fairly. Once Kmarts reorganization plan is confirmed, another more detailed report which must contain a summary of the reorganization plan must be filed with the U.S. Securities and Exchange Commission on Form 8-K. Sometimes a company attaches a copy of its complete reorganization plan (U.S., 2007.) Not surprising, stock of companies in Chapter 11 is considered to be extremely risky and can lead to financial loss. In the U.S. Securities and Exchange Commission webpage, it states, although a company may emerge from bankruptcy as a viable entity, generally, the creditors and the bondholders become the new owners of the shares (U.S., 2007). Wall Street analysts felt the Chapter 11 filing was a good move for Kmart since it ended weeks of speculation of the companys future and allowed Kmart to repair its relationships with vendors, making itself more competitive (CNN, 2002). Chapter 11 bankruptcy allows the filer, or in this case Kmart to re-organize its business while attempting to become profitable. Although Kmart continues to run its day-to-day business operations, the bankruptcy court must approve all of the companys significant business decisions. Kmarts securities can continue to be traded even after it files for bankruptcy under Chapter 11. There currently is no federal law that prohibits trading of securities of companies in bankruptcy. Kmart continued to honor all credit cards, gift certificates and store credits. Because Kmarts pension and savings plans are independent of Kmart, the company said they would continue to be administered as usual (CNN, 2002). Kmarts vendors, suppliers and business partners will be paid under normal terms for all goods and services they provide to Kmart during its reorganization. According to Hoovers Handbook of American Business, Kmart has been difficult to turn around (Hoovers 2007). Kmart has since had numerous reorganization efforts, new store concepts, expanded selections of merchandise while adjusting its pricing strategies. However, it is still struggling to remain competitive with Wal-Mart and Target and a rather weak economy. Since finally for bankruptcy, Kmart closed over 283 stores resulting in over 22,000 job losses (Hoovers, 2007). Kmart is currently a wholly owned subsidiary of Sears Holdings Corporation (Nasdaq: SHLD) (K-mart, 2007). Looking at statistics on a Hoovers Business website, Kmarts annual income statements from 2004-2006 reflects a company that isnt seeing any substantial growth or losses. Some of the latest news on Kmart is that they have a agreed to a gift-card fee refund program (Kmart, 2007) as part of its settlement with the Federal Trade Agency. The FTC had earlier charged Kmart with deceptively engaging in deceptive practices in marketing and selling its gift cards. Apparently when customers attempted to use the cards after 24 months, a charge of $50.40 was deducted from the amount on the card (K-Mart, 2007). A report put out on financial performance of Sears holdings stated that their net income and sales for the fourth quarter of 2006 and their fiscal year ending February 3rd, 2007 stated both their net income and sales were up. Sears holdings net income $820 million while their fiscal year net income was $1.5 billion. The company attributes the rise in net income and sales to improvements in the operating incomes of Kmart and Sears domestic. They also reported that slowdown in the housing market and competition in the U.S. market affected sales of both Kmart and Sears. Reviews John: I'm asked to "where can I write my essay for 12 hours" and find the best answer at EssayLab.com References Hoover's Handbook of American Business 2007. Austin, Tex: Hoover's Business Press, 2006 "Kmart files Chapter 11. CNNMoney. 22Jan2002. CNN. 3 Apr 2007. http://money.cnn.com/2002/01/22/companies/kmart>. "K-Mart files Chapter 11." The Daily Texan Online. 23Jan2002. World & Nation. 5 Apr 2007 . Kmart files for Chapter 11 bankruptcy. Michigan Daily. 23 Jan 2002. Kmart to refund gift-card fees. CNNMoney. 15 Mar 2007 "Reorganization Under the Bankruptcy Code." U.S. Courts. 2007. U.S. Courts. 2 Apr 2007 . Russell, Nancy. World Socialist. 26Jan2002. Accessed 4Apr2007 U.S. Securities and Exchange Commission. Security and Exchange Commission. 2007. 3 Apr 2007 http://www.sec.gov/investor/pubs/bankrupt.htm.

Free Essays on The French Revolution

to identify themselves to the king, they obtained arms. If they felt the need to express their dissatisfaction with the king, they marched right up and demanded it. Simply, if they felt they didn’t like what was going on, they changed it. For these reasons the common people of France pulled the revolution together in order to get what they wanted; which was radical reformation of equality. The revolution evolved from France’s national debt. After France fought the American Revolution, Louis XVI had accumulated a national debt. The country was unable to pay this debt, due to a lack of central bank, paper currency, credit, and an out of date tax system. Louis XVI imposed monitorial rights, which gave noble the right to tax peasants for their own profit, as Louis did. This unfair taxing system caused the Estates General to meet for the first time in several years. (Mckay 698) The Estates General consisted of three estates; the clergy, nobles, and commoners (third estate). Ironically, the three bodies were together separately. At first, the three bodies voted separately as Louis had requested. Louis was only interested in divine right, and to achieve that no one could over power him. He told the three orders that they should meet as one body only for common interest, but vote separately. (Belloc 49) The proposals of the Prime Minister Necker, were brought to the attention of the Estates General. These reforms requested the vote be taken by head rather then by state... Free Essays on The French Revolution Free Essays on The French Revolution The French Revolution To a great extent the common people of France were the primary impetus for action during the French Revolution. When Marquis de Lafayette came back with his love of liberty, life in France was never the same. It started the idea of reform. The people who had no rights or land were the commoners, and they really needed and wanted the reform. The commoners needed the reform in order to continue life in France. When they needed more then words to identify themselves to the king, they obtained arms. If they felt the need to express their dissatisfaction with the king, they marched right up and demanded it. Simply, if they felt they didn’t like what was going on, they changed it. For these reasons the common people of France pulled the revolution together in order to get what they wanted; which was radical reformation of equality. The revolution evolved from France’s national debt. After France fought the American Revolution, Louis XVI had accumulated a national debt. The country was unable to pay this debt, due to a lack of central bank, paper currency, credit, and an out of date tax system. Louis XVI imposed monitorial rights, which gave noble the right to tax peasants for their own profit, as Louis did. This unfair taxing system caused the Estates General to meet for the first time in several years. (Mckay 698) The Estates General consisted of three estates; the clergy, nobles, and commoners (third estate). Ironically, the three bodies were together separately. At first, the three bodies voted separately as Louis had requested. Louis was only interested in divine right, and to achieve that no one could over power him. He told the three orders that they should meet as one body only for common interest, but vote separately. (Belloc 49) The proposals of the Prime Minister Necker, were brought to the attention of the Estates General. These reforms requested the vote be taken by head rather then by state...

U of M Dearborn Admissions and Acceptance Rate

U of M Dearborn Admissions and Acceptance Rate Are you interested in attending the University of Michigan-Dearborn? It is a moderately accessible school with an acceptance rate of 65 percent of applicants. Learn more about admissions requirements. Calculate your chances of getting in with this free tool from Cappex. University of Michigan-Dearborn Description The University of Michigan at Dearborn is a highly-ranked regional public university located in Dearborn, Michigan, just west of Detroit. It is one of the 15 public universities in Michigan, and 95 percent of students come from Michigan. UMD was founded in 1959 by a 196-acre gift from the Ford Motor Company, and the campus features a 70-acre natural area and the Henry Ford Estate. The University of Michigan at Dearborn has a 17 to 1 student/faculty ratio, and classes average between 15 and 25 students. The college takes advantage of the business and industrial centers in the area, and professional programs in business and engineering are some of the strongest and most popular among undergraduates. UMD is largely a commuter campus and has no housing facilities. Admissions Data (2016) University of Michigan-Dearborn Acceptance Rate: 65Â  percentGPA, SAT and ACT Graph for UM-Dearborn AdmissionsTest Scores: 25th / 75th PercentileSAT Math: 520 / 670SAT Writing: - / -What these SAT numbers meanCompare top Michigan colleges SAT scoresMichigan public university SAT score comparisonACT Composite: 22Â  / 27ACT English: 22Â  / 28ACT Math: 21 / 27What these ACT numbers meanCompare top Michigan colleges ACT scoresMichigan public university ACT score comparison Enrollment (2016) Total Enrollment: 9,131Â  (7,141 undergraduates)Gender Breakdown: 52 percent Male / 48 percent Female70 percent Full-time Costs (2016-17) Tuition and Fees: $12,032 (in-state); $24,272 (out-of-state)Books: $1,200 (why so much?)Room and Board: $8,064Other Expenses: $3,364Total Cost: $24,760 (in-state); $37,000 (out-of-state) University of Michigan-Dearborn Financial Aid (2015-16) Percentage of New Students Receiving Aid: 92Â  percentPercentage of New Students Receiving Types of AidGrants: 79Â  percentLoans: 65Â  percentAverage Amount of AidGrants: $7,523Loans: $5,459 Academic Programs Most Popular Majors: Accounting, Biology, Business Administration, Communication Studies, Computer Engineering, Electrical Engineering, Finance, Marketing, Mechanical Engineering, PsychologyWhat major is right for you? Sign up to take the free My Careers and Majors Quiz at Cappex. Retention and Graduation Rates First Year Student Retention (full-time students): 74Â  percent4-Year Graduation Rate: 17Â  percent6-Year Graduation Rate: 54Â  percent Intercollegiate Athletic Programs: Mens Sports: Ice Hockey, Lacrosse, Soccer, Basketball, Track and Field, Cross CountryWomens Sports: Basketball, Softball, Track and Field, Cross Country, Volleyball If You Like the University of Michigan Dearborn, You May Also Like These Schools: Michigan State University: Profile | GPA-SAT-ACT GraphOakland University: ProfileWayne State University: ProfileHarvard University: Profile | GPA-SAT-ACT GraphFerris State University: ProfileNew York University: Profile | GPA-SAT-ACT GraphUniversity of Chicago: Profile | GPA-SAT-ACT GraphPurdue University: Profile | GPA-SAT-ACT GraphOhio State University: Profile | GPA-SAT-ACT GraphDuke University: Profile | GPA-SAT-ACT GraphUniversity of Michigan - Ann Arbor: Profile | GPA-SAT-ACT Graph University of Michigan Dearborn Mission Statement: read the complete mission statement at http://umdearborn.edu/about/mission-vision University of Michigan-Dearborn is an inclusive, student-focused institution. We are committed to excellence in teaching, learning, research and scholarship, as well as access, affordability and metropolitan impact. Data Source: National Center for Educational Statistics

I need a topic Essay Example | Topics and Well Written Essays - 2500 words

I need a topic - Essay Example Exposure to women is still not accepted by certain families, in spite of the fact that women’s liberation is growing considerably in almost all parts of the world. Violence to women is another factor meddling with the improvement of women. When we talk of violence, it might be in the form sexual harassment, discrimination in the living circle and working place, restrictions imposed either by the family members, lack of safety in places where people are moderate in numbers etc. This has probably leaded to the growth of Battered Women’s Shelter and Victim Support Groups. Many women struggle to find a definite solution to loose holds with these problems, these Shelter Houses and Victim Support Groups are helping in such a way that they bring them up to face the society with a supporting hand with lots of courage and ambition. This would pave way for many victim women to think that they too have ample chances to prove themselves in the society. To be precise the Shelter Homes and the Victim Support Groups, in which some are aided by the Social Services, provide permanent housing and deals with curing their issues. It gives them a whole some support. Through this a women is first get rid of her domestic violence and gets best suggestions to tackle her subject. Let me narrate an unforgettable event that happened in my life and how did I came out of that problematic event. If had to tell the exact time in what that event took place, I think I need to include the initial incidents which paved the way for the later chronologically. I got married at the age of twenty, in 1997, I though It would be one of the happiest days in my life, my fantasies over my married life became like a mirage, it gave me the expectation that, I will have a sweet life with my husband, but like what we get at the sight of a mirage , nothing but illusion of water, similarly my married life went in the unexpected way. Before

Leadership Styles of of the Royal Bahamas Police Force and its Impact Research Paper

Leadership Styles of of the Royal Bahamas Police Force and its Impact on the employees and the country - Research Paper Example Leadership entails provision of divine directions by an authoritative individual or body, having been mandated by a functional body. Distinct entities have earlier practiced different leadership styles due to organizational or institutional settings in use. The royal Bahamas police force is a relevant example of variation in leadership styles, thereby experiencing different effects at distinct times and seasons. Leadership transitions are also a source of varying impacts among organizational employees as well as the entire leadership. Every country, however, usually has a security-keeping body that is charged with the responsibility of guarding the state as per the law requirements. Security bodies are usually in the leadership of royal commissioners, ordained by the minister for security in a nation, and serving under a president or rather the country’s overall leader, always the commander of the armed forces. The most commonly identified leadership styles within an organizat ion or a state are democratic or autocratic. The democratic leadership is one where decision-making is not entirely for the overall leader, but provides a chance for the employees to demonstrate their participation in every activity of the institution. Mainly, the leadership management within a security body should distinctly differ from the leadership of business organization or any economic boosting corporation. Every form of leadership, however, has its benefits in addition to disadvantages, depending on its realms of practice. Most countries have long faced conflicts emanating from poor leadership as well as leadership misuse in the security institutions (Griffith, 1993). The discussion in this paper addresses leadership styles that have taken preeminence in the earlier years at the royal Bahamas police force, owing to the frequent change of the institutional commissioners. To enhance this understanding, it is ample to investigate into the impact of the styles of leadership at t he royal Bahamas police force. It is also important to look into a comparative analysis of the RBFP with the Bahamas Electicity Corporation (a private corporation) as well as that of the RBFP with the Royal Customs (a public corporation). The Royal Bahamas Police Force The royal Bahamas police force is an entity that is charged with law enforcement in the Bahamas commonwealth. The Ministry of National Security portfolio is the main location of the RBPF in Bahamas. Its inception dates back in the 1840,s, with its initial stages comprising of only sixteen people, who were then under the leadership of General John Pinder. It also comprised of night guards as well as slaves who were willing to provide extra security to their nation. The inception of the force was not aimed at provision of military services, but rather patrolling the New Providence Island for twenty-four hours a day. Its progress was awesome and lasts for several years, which saw some members of the group being transferr ed to other neighboring islands to take patrol charge. The end of the 1840 saw the patrol consist of the Inspector General in addition to thirty Sergeants and Privates, as well as Corporals (Griffith, 1993)

Adult Civic Education :: Education Adults Essays

Adult Civic Education Since democracy is the context and the condition for everything else that is valued—work, family life, religion, politics, recreation, and leisure—preserving its vitality and integrity must be a central objective of adult education. (Boggs 1991b, p. 54). In a democratic society, adults are frequently confronted with situations and events that require them to make decisions, not only about their own lives as citizens but also about their role as a citizen in a larger community. The answers to dilemmas facing adults in today's world are not clear cut and require the ability to struggle with understanding ideas that are subtle and multifaceted, to engage in serious talk with others, and to take action (Colby et al. 2003; C. Seaquist 2003, p. 11). Since September 11, for example, individuals have had to decide what it means when the "government announces 'specific and credible' clues of a possible terrorist attack" within the United States (L. Seaquist 2003, p. 11). Should they cancel plans for a vacation? Should they stay home and cover their windows with plastic using duct tape? Should they carry on as usual? Furthermore, they also have had to decide if the information itself is credible since being able to interpret intelligence is no w a part of being a citizen (ibid.). How can adult education support adults as they struggle with what it means to be a citizen in an increasingly complex world? This Brief examines the role of adult civic education in contemporary society and provides recommendations for its practice. Adult Civic Education: What Adult civic education, sometimes called adult education for democracy or citizenship education, has a number of purposes and helps individuals carry out both vertical (between the individual and the state) and horizontal (between individuals and groups and communities) aspects of citizenship (Keogh 2003). It involves not only learning about the rights and responsibilities of citizenship (e.g., voting), but also about how one participates in building a society by making informed decisions through dialogue, reflection, and deliberation (Boggs 1991a; Democracy and Peace 1999; Nash 1999). It moves beyond helping learners acquire information and knowledge to fostering the development of action designed to seek solutions to situations (Klaassen 2000). Equipped for the Future, a project of the National Institute for Literacy, for example, organizes content standards for the role of citizen/community member around four broad areas of responsibility as follows: "become and stay informed, form and express opinions and ideas, work together, and take action to strengthen communities" (http://novel.

Confucianism, Daoism, Legalism.

A nation that used to be so great crashed both politically and economically. To restore order and stability to this nation, there has to be a complete transformation of the whole government. In order to have that, there will be great sacrifices that will be made. If I have to choose one of Confucianism, Daoism, and Legalism as a governing system. The most effective system would be Legalism, because it's stable, strict and strong. Which would led to a powerful nation. The people of the nation would be fully devastated because of the disorder in their country.In order to have their luxurious lives back, they would make as much effort, to help with the recovery. Legalism would bring stability back to a devastated nation. For example, in the past Legalism brought back stability to China, after the warring states. There would be agricultural surpluses and people working very hard on improving the cultivation. Second, the strict and harsh punishments would result in a decrease of crime rat es. People would be scared to act stupid and commit a crime. The severe punishments would be enough to stop most violence.Also, Legalism is about strengthening the military. A nation with a great army means an undefeatable, respected and a feared one. Other nations would be intimidated by how powerful the military is. It would be a strong nation, both politically and economically. Confucianism wouldn't be a good way of restoring order to a broken nation, but not a GREAT way. Recovering fast is really important. I believe that Confucianism would take some time to do so. The whole system focuses on the improvement of each individuals' morals.It would be hard to focus on each individual. Another reason is, Confucianism doesn't say anything about protecting the state. It says that to create an ideal government you need advanced education and moral integrity. I agree with that, it doesn't mention anything about the military. Which I think is really important for a nation. Daoism would be the worst and least effective system. Daoism is very understandable of nature and the world. The system's motto would be † less government the better†.Disagreeing with that, I would say, without government there would constant violence and chaos. That’s the total opposite of what Daoism represents. There has to be limits for everything. Daoism also states that working hard for something only leads to chaos. Actually, working hard for something is totally worth it. Especially, when there would be good results later on. Hard work always pays off. It would be a waste of time for everyone in the nation to devote their full time, caring about nature and the world. Instead, it would be better to build your nation through hard work.Honestly, other nations wouldn't take this system seriously. The system seems vulnerable and easy to destroy. When you look at these three systems, Confucianism, Daoism, and Legalism, one of them stands out the most. Legalism would be the fas test and most effective system to restore stability to a nation. Compared to Confucianism and Daoism, it would be very different and much stronger. If a nation follows the beliefs of Legalism, It would be strong, stable and strict. Eventually, it would result in a powerful and an undefeatable nation.