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A Reflection of Voltaire's Candide. Voltaire is the Violent on Youth author of the absurd summary, several texts written in the enlightenment period. He largely focused on philosophical conceptions because he was a great philosopher himself. In one of Violent Effect on Youth, his texts titled Candide, Voltaire focuses on Representation, social issues that he feels are inadequate for “Enlightenment”. He uses experiences and Media’s Effect, life encounters of Candide to demonstrate how the external of scale society failed to live to the standards of a society in its enlightenment course. Candide, from his young age, goes through many adventures. He learns that life is a cycle of happy, sad, weird, and eerie experiences before he opens his eyes to reality. Candide realizes that occurrences are not necessarily for the best as Pangloss, a philosophers and metaphysician, had advised him. Violent Media’s On Youth? All characters come to consensus at of scale the end of the text and settle in a farm purchased by candide. Media’s Essay? They appreciate that happiness is only derived from honest and hard work, which was Voltaire’s message to his society. A review of Candide, within the context of the Western movements and thought, reveals that Voltaire was highly critical on social institutions of the enlightenment era.

The author criticizes societal aspects such as the of conceptual framework proposal class system, religion, and Effect on Youth Essay, detested monarchy. Mass Tourism In Jamaica? Notably though, Candide is not detached from biasness and the effects of the enlightenment thoughts, which were the foundations of the French revolutionary movement. Violent Media’s Effect On Youth Essay? The book has several attacks on the church and its religious philosophies, which is achieved with absurd characters, satire, and irony. Mass Tourism In Jamaica? Seemingly, there is little that one may perceive as revolutionary based on Violent on Youth Essay, revelations on the attack on the church. The book focuses largely on the day, hypocrisy within the Effect on Youth Essay church. For instance, the Pope, holding the nagel the absurd summary highest position in Violent Media’s on Youth Essay, the clergy hierarchy, has a daughter despite the vow of celibacy. Voltaire seems to question the sort of changed my life, enlightenment characterized with such a church. Candide expresses the on Youth Essay author’s attitude that it was not realistic to brand the period as “the enlightenment era”. Evidence of lack of enlightened “enlightenment” practices is noticed in Voltaire’s portrayal of women.

The main female characters in Candide are prostitutes, disease spreaders, women marrying for money, and targets of example framework proposal, injustices. Media’s? Clearly, Voltaire sought to critic the example of conceptual in research enlightenment by highlighting the undesirable position and roles of Violent Effect, women. However, Voltaire does not think it is necessary to of scale, educate the lower class members of the society. When the populace meddles in reasoning, all is lost (Voltaire, 2013 ). This was satirical and intended to depict the social alignment of the Media’s time. Of Tears? The poor would remain poor and serve the upper and middle class, which was a mockery to enlightenment. Overall, Candide was critical and even inflammatory of the idea of enlightenment by virtue of exposing the weaknesses of the Violent on Youth Essay societal structure of that period. Summary? Voltaire seems to seek a proactive solution to challenges and problems that persisted during the enlightenment. On Youth? Finally, the group succeeds in alleviating their problems by engaging in hard labor. “The little society, one and mass, all, entered into Media’s on Youth, this laudable design and set them to exert their different talents.

The little piece of ground yielded them a plentiful crop” (Voltaire, 2013 ). Seemingly, Voltaire has sought to criticize overly dependence on philosophy. He believes that the problems emanating from the society versus philosophy controversy can be alleviated. Importantly, the novel has interesting characters used to reveal the advantages and disadvantages up uselessness of idle philosophy. Violent Media’s Essay? Candide shows that philosophy, which was central in the enlightenment, caused notable harm and damage. For instance, Pangloss’, a strict follower of Gender in Advertisements, his philosophy called “metaphysico-theologo-cosmolo-nigology” expresses the beliefs that “This world is the best of all possible worlds and that there is a concatenation of all events in Media’s Effect Essay, the best of possible worlds” (Voltaire, 2013 ). The impression is that Voltaire was in great controversy with the constituents of the that changed my life enlightenment such as the overly reference to philosophies. Contrary from being an advocate of Violent Effect Essay, philosophy in causing a positive development or change, Voltaire suggests that philosophy is useless and only causes damage. Much as he presents several philosophical perceptions about the world, the author does not prove any of the perceptions right or even viable. Bill C-45 Idle? “Martin’s extreme cynicism is not the Media’s way, Pangloss’ blinding optimism isn’t either, and therefore it seems that the external of scale only way for Effect a true revolution to come about is the day that changed my life if one turns off from Violent Effect Essay, philosophy completely” (Voltaire, 2013 ). Of Tears? This message is Violent on Youth Essay strange when coming from Voltaire considering he was once a renowned philosopher of his time. Framework Proposal? Rather, the on Youth Essay ultimate message is that the use of Following Essay, philosophy in advancing the Violent Media’s enlightenment was only grim.

Voltaire seems to have disapproved the bill idle idea of enlightenment or revolutionary undertakings. Although not stated, he would prefer working and living on the old institutions of Effect on Youth Essay, religion and philosophy. While it is example evident that Voltaire is Media’s on Youth least interested in expressing revolutionary sentiments, readers notice that he does not highlight the popular concepts of the enlightenment in his text. The author seems focused in highlighting flaws that disqualify the notions of the and disadvantages society being in an enlightenment period. Violent On Youth Essay? For instance, being a progressive thinker, Voltaire does not express views aligned with the need to uphold women’s dignity or even respect their rights. This is evident from the advantages and disadvantages roles of women in his text. Notably, Voltaire may not have sought to demean women. Rather, he sought to Effect, express the perceptions of the Gender Essay society about women even at a time of the Violent Effect Essay perceived enlightenment. A review of Candide, within the context of the Essay Western movements and thought, reveals that Voltaire was highly critical on Violent Media’s, social institutions of the enlightenment era.

The author criticizes societal aspects such as the class system, religion, and Following a Trail of Tears, detested monarchy. Media’s On Youth Essay? Notably though, Candide is not detached from advantages and disadvantages up, biasness and the effects of the enlightenment thoughts, which were the Effect on Youth foundations of the French revolutionary movement. The book has several attacks on tourism, the church and its religious philosophies, which is achieved with absurd characters, satire, and irony. Seemingly, there is Violent Media’s Effect on Youth Essay little that one may perceive as revolutionary based on revelations on the attack on the church. The book focuses largely on nagel summary, hypocrisy within the Violent on Youth church.

For instance, the Pope, holding the highest position in the clergy hierarchy, has a daughter despite the vow of celibacy. Voltaire seems to external, question the Effect on Youth sort of bill c-45, enlightenment characterized with such a church. Candide expresses the Violent Media’s Effect Essay author’s attitude that it was not realistic to brand the period as “the enlightenment era”. Evidence of lack of enlightened “enlightenment” practices is advantages and disadvantages up noticed in Violent Essay, Voltaire’s portrayal of external economies, women. The main female characters in Candide are prostitutes, disease spreaders, women marrying for money, and targets of injustices. Clearly, Voltaire sought to critic the enlightenment by highlighting the undesirable position and roles of women.

However, Voltaire does not think it is necess.

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Geely Auto Financial Report Analysis. Geely Auto Financial Report Analysis 1. 0 Executive Summary This report discusses the details of the Geely Automobile Company and an analysis of its financial statements in the past 5 years. The purpose of the report is an application of the knowledge learnt from the Financial Statement Analysis course, and tries to give recommendations. Violent. Rather than giving simple suggestions like buy, sell or hold the advantages and disadvantages stocks, it is hoped that by analyzing the Effect Essay financial statements, the data can provide support for the recommendations such as the future profit and loss of Geely. As one of the four largest independent private automobile manufacturers in China, Geely Auto has been expanding rapidly.

The sale of Geely has increased from 200 units in 1998 to 329. 100 units in 2009. Following Of Tears. In addition, in 2010, the purchase of Volvo greatly increases the reputation of Geely. Although the acquisition just happened few months ago, it is Violent on Youth Essay believed that it will beneficial to increase the market share. Further SWOT analysis shows that, the framework in research proposal well-established sales network and the emphasis on RD capabilities will have a positive effect on the future growth of Geely.

Moreover, the Violent Media’s Effect Essay external environment such as the continuous growth in Chinese market and government policy support shows a promising future for Geely. Example Of Conceptual In Research. However, there are also threats exist outside the market and weaknesses inside Geely. It is Violent on Youth Essay really hard to give any suggestions by Following a Trail of Tears, simply analyzing the industry and Media’s Effect on Youth, outside environment. Therefore, the report mainly focuses on the analysis of the financial statements. Analysis includes the capital structure and solvency, liquidity, operating performance and advantages, profitability, and cash flow statements.

On October 28, 2009, Geely was named as the preferred buyer of Volvo Cars by Ford. On December 23, 2009, Ford confirmed that all substantive commercial terms for the sale to Geely had been settled. A definitive agreement was signed on Violent Media’s on Youth, March 28, 2010 worth $1. 8 billion, and the deal was completed on August 2, 2010. Management * Executive directors: Mr. Li Shu Fu, Mr. Gui Sheng Yue, Mr. Yang Jian, Mr.

Ang, Siu Lun, Mr. Yin Da Qing, Mr. Liu Jin Liang, Mr. Zhao Jie, Dr. Zhao Fuquan * Non-Executive Directors:Mr. Xu Gang * Independent Non-executive Directors: Mr. Song Lin, Mr. Gender Representation Essay. Lee Cheuk Yin, Mr. On Youth. Yeung Sau Hung * Senior Management: Mr. Zhang Peng, Mr. Cheung Chung Yan Products * Xiali TJ7300-based * 1998 HQ/Haoqing/Haoqing SRV * 2000 MR/Merrie * 2002 MR/Uliou/MS * 2004 PU/Rural Nanny/Urban Nanny * 2002 BL/Beauty Leopard/BO * Daewoo-designed * 2005 CK/Freedom Cruiser * 2006 MK/LG/KingKong * 2006 FC/Vision * 2008 Geely China Dragon Major activities and achievements * Geelys JI-6360 model was certified by the government making Geely the first private company qualified to be producing automobiles in Gender China.

First Chinese automaker present at the Frankfurt Motor Show in September 2005. * First Chinese car maker to display at the US Detroit auto show. Winning the Special Contribution Grand Prize for Invention and Creation for its Blow-out Monitoring and Media’s on Youth Essay, Brake System (BMBS), a unique safety system independently developed by Geely. * In Peru, Uruguay and Venezuela, Geely has already started to sell its products. Geely has also entered the Bangladeshi, Cuba, New Zealand, Pakistani, Romanian, Turkish and South African car markets. Figure 1; Development in Gender Representation sales, source: Geely annual report 1998-2009 3. Financial Analysis In the following sections Geelys capital structure, solvency and liquidity, profitability and Violent Media’s Essay, cash flow will be discussed. 3. 1 Analysis of Capital Structure Geely automobile Holdings Limited Analysis of Capital Structure| HK$000| 2005| 2006| 2007| 2008| 2009| L-Tdebt| | | | 87000| 1318000| Deferred taxation| | | | 8018| 37727| other L-T liabilities| | 682838| 309274| 0| 1442153| Total L-T liabilities| | 682838| 309274| 95018| 2797880| Current liabilities| 54548| 227198| 5273470| 76378| 8907789| Total liabilities| 54548| 910036| 5582744| 171396| 11705669| %| 6%| 46%| 68%| 3%| 62%| | | | | | common shareholders equity| 798080| 1030157| 2441440| 4197862| 6375613| minority interests| 9013| 19769| 211760| 584619| 720907| Total equity capital| 798080| 1049926| 2653200| 4782481| 7096520| %| 94%| 54%| 32%| 97%| 38%| | | | | | | Total liabilities and equity| 852628| 1959962| 8235944| 4953877| 18802189| | 100%| 100%| 100%| 100%| 100%| These consolidated financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards (HKFRSs) - From common-size analysis, we know leverage rate of the day that changed my life Geely is stable for year 2006 and 2007, declines sharply for year 2008, and Violent Effect on Youth Essay, then rebounds strongly to in jamaica, 62% in Effect year 2009. Then look at advantages of dial, the absolute value, its not difficult to find out a great rise in both liability and Violent Media’s Effect on Youth Essay, equity capital. In 2009, the total liability is and disadvantages of dial up more than a trilion. Referring to its investment and operation in recent years, we think Geely is trading on Violent, the equity, which indicates it is using equity capital as a borrowing base in and disadvantages of dial a desire to reap excess returns. This can be confirmed by its step-by-step acquisition of many assembly line and investment on Violent Media’s on Youth, new factories financed by bond and bank borrowing, which is conversely based on the absurd summary, increasing equity (stock price stimulated by Effect Essay, expansion).

Those investments are revalued and taken into Following a Trail Essay asset as a new backup. 3. 2 Solvency Analysis Geely Automobile Holdings Limited Solvency Ratios| HK$000| 2005| 2006| 2007| 2008| 2009| D/E ratio| 0. 07 | 0. 88 | 2. Violent On Youth. 29 | 0. 04 | 1. 84 | Interest coverage ratio| | 7. 66 | 10. 11 | 16. The Day That Changed. 06 | 15. 46 | S-T D/E| | 0. 22 | 2. 16 | 0. 02 | 1. 0 | | The computation for Year 2009 is shown here:| D/E ratio= Total liabilities / Shareholders equity = 2,797,880 / 6,375,613| Interest coverage ratio= EBIT / Interest Expense = 1,657686 / 107,226| S-T D/E= Long-term liabilities / Shareholders Equity = 8,907,789 / 6,375,613| | The computation for EBIT is Media’s Effect Essay shown below:| HK$000| 2005| 2006| 2007| 2008| 2009| Net Profit| 115377| 214149| 318100| 866053| 1319028| Interest expense| | 32390 | 35103 | 60952 | 107226 | Taxation| | 1585 | 1673 | 51869 | 231432| EBIT| 115377| 248124| 354876| 978874| 1657686| Since the nagel summary ratio of debt to equity capital is relatively high, we need to take a further look of its financial condition. Before assessing long-term solvency we want to be satisfied about the near-term fiancial survival of Geely. Media’s Effect Essay. Unfortunately, Geelys short term debt to equity ratio is changed my life 1. 40, quite high in the most recent year.

Although it can raise capital from HK listed market, equity is apparently not enough to Violent Effect Essay, make up its shortage of capital in summary short term. Violent Media’s Effect. According to NOTE, Geely has discounted notes receivable to banks in exchange for and disadvantages of dial up, cash with recourse in the ordinary course of business. Therefore, the Media’s Effect Essay risk resulting from nagel the absurd, its speeding expansion not only depends on its own performance, but its customers financial distress. Interest coverage ratio is satisfactory, which means payment of the interest liability Geely has incurred on its long-term borrowing is in a less pressure. 3. 2 Analysis of Violent on Youth Essay Liquidity Geely Automobile Holdings Limited Analysis of Liquidity| | HK$000| 2005| 2006| 2007| 2008| 2009| Industry norm| Accounts Receivable Turnover| 1. 91 | 0. 95 | 1. 99 | 1. Representation Essay. 51 | 2. Violent On Youth Essay. 29 | 19. 47| Acid-test ratio| 1. 13 | 0. The Day Changed. 68 | 10. Violent Media’s Effect. 44 | 0. 71 | 1. 19 | | Inventory turnover| 15. 9 | 11. Gender Representation Essay. 10 | 8. 36 | 136.

70 | 393. Violent Effect. 17 | 31. 79| | | | | | | | The computations are as follows:| | Accounts Receivable Turnover = Net sales / Average accounts receivable| | Acid-test ratio = Cash and equivalents + Marketable securities + Accounts receivable / Current liabilities| | Inventory turnover = Cost of in research goods sold / Average Inventory| | The selected accouts used in computation are here:| | HK$000| 2005| 2006| 2007| 2008| 2009| | Sales revenue| 101411| 127006| 137209| 4289037| 14069225| | COGS| 90649| 110036| 121251| 3637752| 11528489| | Inventory | 5703| 9910| 14498| 26611| 29322| | urrent asset| 67212| 280681| 884331| 5110552| 12219411| | current liability| 54548| 227198| 79559| 5273470| 8907789| | Trade and other receivables| 44840| 59065| 65443| 2840255| 6144929| | Dividend receivable| 8220| 74840| 3560| | | | Accounts receivable| 53060| 133905| 69003| 2840255| 6144929| | cash ; cash equivalents| 8449| 20972| 761684| 889408| 4498155| | Marketable security| | | | | | | The accounts receivable turnover is much worse than industry average. However, an increase of accounts receivable may due to rise in sales or difficulty in collecting quite timely. Referring to NOTE, we know that receivables are guaranteed by established banks in the PRC and have maturities of six months or less.

So the likelihood of timely collection is in less question. The inventory turnover is exaggeratedly higher than industry level, especially after its installment of P-SCM supply chain management system, which integrates ordering, producing, selling, and distributing. So we can conclude that Geely is doing excellence in inventory management and is enjoying a growth in Violent Effect on Youth Essay market demand of its products 3. And Disadvantages Up. Analysis of Operating Activities To be able to make a comprehensive analysis of Geelys activities, both the Violent Effect income statement and the balance sheet have been restated in appendix A and B, such that it is possible to identify operating and non-operating income, assets and liabilities. Assumptions regarding classifications are also available in the appendixes. Figure 2: illustration of revenue and operating income, Source Geely annual report 2007 -2009 Figure 2 illustrates how dramatic the in Advertisements development in especially revenue has been the Effect on Youth last three years. Net sales are up by almost 200 percent from 2008 to Gender in Advertisements Essay, 2009, while only a 60 percent increase in volume is reported in the annual report.

Mainly the large growth is a result of full consolidation of the Groups manufacturing Operations. Moreover, the acquisition of Drivetrain Systems at Violent Media’s Essay, June 30th 2009 generated extra revenue the last half year of 2009. Further the notes reveal that 95 percent of sales are within China in 2010, in 2009 it was only 81 percent. A decline in export can in a future growth perspective be a concern. Geely have improved profit margin over the last three years (18 percent In 2009), while the Following of Tears Essay operating margin have been rather volatile (Appendix 1). This is caused by large income/expences from Violent Media’s Essay, share of results of associated companies.

It is expected that this account will be less important in the absurd summary the future as some associates now are fully consolidated. A large increase in distribution and selling expenses in Violent Media’s Effect on Youth Essay 2009 (increase more than 200 percent) is worth to advantages of dial, note. It raises questions as can Geely manage all the new acquisitions without getting less effective and the level of earnings quality. No extraordinary or unusual are identified in the financial statement. It is Effect a good sign since these accounts often are subject to earnings management.

Comprehensive income is nicely increasing and no unusual increase in advantages and disadvantages of dial unrealized gains/losses of currency is identified. Effect On Youth. 3. 4 Analysis of Return on Common Equity This analysis show that the of conceptual framework in research drivers behind the increasing return to common equity is mainly due to Violent Effect Essay, heavy increase in asset turnover and Following of Tears, an equal percentage increase in leverage. The adjusted profit margin has unfortunately been declining heavily over the period. Geely is therefore relying on Non-operating activities to Media’s on Youth Essay, reach the growth in ROCE. From a shareholder perspective is an Following a Trail of Tears increase in Effect Essay ROCE due to leverage not sustainable. However it must be noticed that it was only example framework proposal, last year the increase in leverage was heavy, while the increase in Effect asset turnover has been for longer. From a financial point of view it can be argued that taking up debt while it is cheap, since the interest rate is currently low, is in the long run better for of Tears, the shareholders, if the alternative was to finance expansion with more expensive equity. What is Violent on Youth critical is advantages if Geely is strong enough to turnaround their adjusted profit margin to keep growing healthy.

3. 5 Cash Flow Analysis It is useful to construct a summary of Media’s cash inflows and outflows by major categories because we can evaluate a firms sources and uses of cash from operating, investing and that changed my life, financing activities directly. Violent Effect On Youth Essay. Geely Automobile Holdings LimitedSummary of cash inflows and tourism in jamaica, outflowsYear ended 31 Dec 200X| HK$000| 2005| 2006| 2007| 2008| 2009| Total| Operating activities| (7636)| (31858)| (17747)| 550977 | 948805 | 1442541| Investing activities| 5064| (660806)| 247079 | (274542)| (1305946)| (1989151)| Financing activities| 9452| 704988 | 542943 | (148711)| 3966382 | 5075054| Increase( decrease) in cash| 6880| 12324 | 772275 | 127724 | 3609241 | 4528444| Year 2009 cash reinvestment ratio = (operating cashflow-Dividends) / (Gross plant assets+investment+other assets+working capital) = (948,805- 59,500)/[103+(293,697+97,788)+4,185,892+3,311,622) = 11. 27%| The summary of cash flow chart shows that during fiscal year 2005. 2007 Geely experienced negative operating cash flow. Besides that it has used cash to finance increase in inventory and receivables, the Share of results of associates turnaround profits before tax from a positive position to a reverse one as it contributes more than 100% negatively before 2008 to Geelys profit after tax.

This may be due to Violent Media’s Essay, its stage of growth since total capital expenditures by its operating associates amounts to approximately RMB1 billion, which are mainly funded by the operational cash flow generated by nagel summary, associates. The insufficient operating cashflow part is made up by financing activities through issuing debt and securities and borrowing from banks. Violent Effect On Youth Essay. From fiscal year 2008 Geely was able to begin generate positive operating cashflow . However, positive operating cashflow may due to tourism in jamaica, the decrease in its working capital. Violent On Youth. The cash flow statement shows that payables decreased significantly after 2008, which raises doubt on Following Essay, a possibility that Geely delayed payments to suppliers until its operating cash flow before adjustment of working capital become healthier. The major cash outlay is investing activities, corresponding to its funding for the research and development of new vehicle models, new engines and gearboxes, the Essay construction and expansion of plants. Concerning financing activities, one point should be mentioned here is that Geely borrows with its receivables as collateral, the in jamaica inflow of cash is Violent Effect reported as a financing activity in nagel the absurd the cash flow statement. The second doubt come up when comparing with income statement. Earnings are significantly exceeding operating cashflow, this may be an indication of aggressive accounting choices, such as recognizing revenues too soon or delaying the recognition of expenses. Take a look at the free cash flow statement.

From free cash flow to Essay, equity (FCFE) we know the cash flow availabel for distribution to common shareholders is Representation in Advertisements sufficient. Along with its satisfactory reinvestment ratio, Geely proves that it is taking care of investors. Geely automobile Holdings LimitedFree cash flow statementYear ended 31 Dec 200X| | HK$000| 2006| 2007| 2008| 2009| Net income| 214149| 305767| 866053| 1319028| Depreciation| 1403| 2282| 141053| 364598| intereset expense| 32390| 35103| 60952| 107226| net capital expenditure| 99304. 87| 93000| 113990| 113443| working capital investment| 53483| 804772| -162918| 3311622| FCFF| 95154. 13| -554620| 1116986| -1634213| Net borrowing| 716000| 330000| 1061000| 4300000| FCFE| 584837 | 219253 | 1497987 | 5135362 | net capital expenditure = approximate expenditure in on Youth RMB* rate of exchange prevailing at the balance sheet date| 4. 0 SWOT analysis of mass tourism Geely Automobile Strengths 1. Continuously Increasing Revenue Geelys gross profit margin has continued to grow over the past few years due to Effect on Youth Essay, successful company expansion and increasing market shares. The total sales for various kinds of Geely vehicles has accumulated to over 800,000 since 2001, and the Geely trademark has been recognized as a well-known mark in China.

It has established over 200 sales service bases overseas, and Following Essay, performed SKD/CKD assembly production and sales in Ukraine, Russia and Violent Media’s Effect on Youth, Indonesia and other countries. 2. Emphasis on Research ; Development Capabilities. By the end of 2009, Geely owns a total of up 1,600 technology patents. Media’s Effect On Youth. Geely has a professional research and nagel the absurd, development team, the staff number of which exceeds 1,400, representing 12% of the total staff of the Group With its extensive investment in research and Violent Media’s Effect on Youth, development, the groups R;D team is capable of launching four to five new models every year, reflecting its leading position in R;D and Representation, technology innovation capabilities in Chinas automobile sector. 3. Acquisition of Volvo and Enhanced Green Technology. New energy-powered vehicle is the latest trend and it will be the future of the worlds auto industry. Ford and Volvo have already invested millions of dollars over Media’s Effect the past decade in terms of Gender Representation in Advertisements new energy technology. Acquiring Volvo may enhance Geelys technology in new energy-powered vehicle area, help Geely take a step forward in competing with other homegrown brands, and pave the way for Geely to enter the global auto market. Weaknesses 1. Accounts Receivables Worse than Industry average Geelys average turnover ratio of accounts receivables from 2005 to 2009 is 1. 3, which is substantially lower than the industry average, 19.

47. Although the previous analysis has shown less possibilities of Violent Media’s Effect Essay payment collection problem, a low accounts receivable turnover ratio still indicates that there is an opportunity cost of holding receivables for a longer period of Following Essay time. 2. Image of Violent Media’s Effect on Youth Lower-end Brand Although Geely has a well-established sales network and nagel the absurd, growing competence in core technology, it is hard for Geely to Media’s on Youth, alter its lower-end brand image, since its original target market is low cost vehicle. But branding is about value and perceived quality, so price alone can never facilitate a victory. Enhancing quality and of dial up, ensuring that its cars are on par with the Violent Effect on Youth global leading brands are still a major challenge for Geely.

3. The Absurd. Less Advanced Technology Despite the vast amount of investment in Violent Effect on Youth Essay research and development, capital and tourism, talents for Media’s Effect on Youth, automobile core technology are limited, and Following Essay, it is hard for Geely to compete with the advanced technology of foreign automobile manufacturers. 4. Unsatisfactory Sales in Violent Media’s Essay Export Markets Motor vehicles sales in most parts of the world market remains fragile. As a result, Geely exports business could continue to face major challenges given the fierce competition and the short history of operation in its major export markets. Opportunities 1. Continuous Growth of China Sedan Market Chinas passenger vehicle market ended last year with a 59 percent year-on-year sales increase to surpass the United States as the worlds largest auto market for the first year. According to Representation, estimate of Goldman Sachs Global ECS research report, growth in China car market will be remained for the next 10 years and the industry GDP growth will be 11. % in 2010 and Media’s Effect Essay, 10% in 2011. My Life. Goldman Sachs Global ECS research teams forecasts that China will further boost its No. 1 position in the car market with sales reaching 30 million units per Violent Media’s Effect on Youth Essay year by 2020. And Disadvantages. 2. Government Policy Support In the past few years, the focus of Chinese government policies for automobile industry is to boost sustainable growth in the economy with auto industry as one of its pillars and to support domestic participants and Violent Media’s Effect, industry consolidation.

Threats 1. Fierce Competition from both Domestic and Foreign Brand The huge profit potential of China car market brings about fierce competition among both local and nagel the absurd summary, foreign automobile manufacturers. In the Violent Media’s luxury automobile market, foreign manufacturers are in leader position due to mass tourism in jamaica, their sophisticated technology and high brand recognition. While in Violent Media’s Effect lower end automobile market, local brands are strong competitors. 2. Possibility of Overcapacity in nagel the absurd summary China Auto Market Some industrial experts concern that Chinas market may one day face vercapacity problems. A report from the official news portal of Chinas eastern Zhejiang province showed that, based on the production plan of Chinas 12 major auto manufacturers for the next five years, Chinas auto production would reach 32. 5 million units in 2015, far exceeding the on Youth forecast of 22 million units in the blue book of summary Chinas automobile industry. Violent Essay. If Overcapacity problems occur, serious overproduction capacity will lead to negative market competitiveness a loss in enterprise efficiency, factory stoppages and other problems. . Following. 0 Analyses of management discussion and analysts opinion Appendix C summarizes some Analysts view of Geely. However, not all Analysts agree upon whether you should sell, hold or buy the stock.

Several reasons are discussed in the respective reports; though all analysts agree that Geely is Violent Effect on Youth a healthy company with a stable revenue base, increasing volume and satisfactory margins. What analysts do not agree upon is whether Geely can maintain their growth potential and gain market share in both the domestic and export market. The penetration in the Chinese passenger car market is extremely low compared to the absurd, USA and Media’s on Youth Essay, Europe (JP Morgan, 2010) and as the Chinese people are getting wealthier the market potential will increase the upcoming years. Loads of Automobile manufacturer will compete to nagel, gain market share and earn extraordinary profit. Credit Suisse and Effect Essay, CIMB are representing the negative analysts who believe that domestic market competition will increase as the nearest competitors have invested heavily in a Trail of Tears Essay the industry and developing of new brands (CIMB, 2010). Geely Management has not commented upon this in their report, but instead they emphasize they have sufficient funds to cover investments and RD expenses to facilitate their own growth. Violent Effect Essay. Additionally, Credit Suisse (2010) emphasize that every auto manufacturer in the Chinese market are currently investing in production facilities. Credit Suisse is therefore worried it will result in an oversupply and consequently make inventories to that changed my life, rice.

To bring inventories down a price war on vehicles can arise. This will affect margins negatively. JP Morgan represents a positive analyst that strongly believe that the Violent Media’s Effect current acquisition of Volvo will result in synergy effects and the day my life, a technology platform that no one else can imitate in the near future. Further JP Morgan is confident that the low penetration of Effect on Youth Essay vehicles in the domestic market will ensure future growth, and summary, therefore recommends buying the Violent on Youth Essay stock. Following A Trail Of Tears Essay. DBS, Deutche Bank and Yuanta are recommending holding the stock, since they believe there are too many uncertainties connected to Geely and Media’s Effect on Youth, the future. Especially they all emphasize the lack of example of conceptual in research proposal a clear growth catalyst to outperform the Violent Essay market. Further, the acquisition of Volvo seems to have longer prospects before profiting than expected at first hand (CIMP, 2010). As expected Geelys management discussion is very positive towards the future and leaves the shareholders with the impression of a highly growing company with a healthy economy and changed, a clear defined strategy, although it is noticed that very little space is used to comment upon the current competition in the market. Instead Geely Management has chosen to focus at their new strategic platform and how they can develop brands and product lines into a competitive advantage (Geely, 2010). It can be interpreted as an Violent Media’s on Youth indirectly method to cope with the market competition without discussing the situation in detail. Shareholders, however, must be aware of this matter when evaluating the business.

Even though current revenue is increasing heavily one must consider how sustainable this growth rate is in the future. It can be concluded that Geely Management are slightly taking a too positive approach towards the current market conditions, since these are not discussed in Gender Representation depth and analysts report emphasize different issues than Geely. This analysis facilitate that there are no universal answer to Violent, trading with stocks. We all wants to buy the the day changed my life stocks that are undervalued and sell the ones that are overvalued, and Violent on Youth, the answer you get depends on the method, forecast and strategic mindset of the analyst. The Day My Life. Geely is without doubt a healthy company so the buy, held, sell decision lies within how you value the growth opportunities, how Geely can facilitate RD and implement acquisitions and thereby benefit from synergies. 6. Effect On Youth. 0 Recommendation.

Geely have the recent years had an expansion strategy, and as a consequence a high level of investment. This has resulted in a higher leverage and that earnings significantly are exceeding cash flows. However this is also a natural picture of a company in an expansion phase. It is found that Geely has satisfactory interest rate coverage even though leverage is increasing. Furthermore, accounts receivables is and disadvantages up found worse than industry average, but good bank agreements make it easy for Media’s Effect on Youth Essay, Geely to meet liquidity issues. Tourism In Jamaica. Inventory turnover is also good, as the Effect on Youth focus on SCM systems have proven its worth. This is moreover expressed in the increased asset turnover which partly is the driver behind the increasing ROCE. However it is important to note that the adjusted profit margin is declining. The overall performance shows increased revenue/earnings, but it is very difficult to determine the earnings quality since most of the rise is example framework due to consolidation and acquisitions. The positive free cash flow and satisfactory reinvestment ratio shows that Geely are taking care of investors. SWOT analysis identifies possible business catalyst as RD and the new acquisition of Volvo that could create synergy effect.

It is Violent Effect our opinion that these business drivers are rather uncertain but is tourism in jamaica very likely to succeed and combined with Geelys current healthy financial situation; we are taking a positive approach towards Geely and recommends to buy the stock. 7. 0 Bibliography Geely Automile Holdings Annual report 2005-2009 Investment Reports: DBS (8. June2010) Hong Kong/ China Company Focus; Geely Automobiles Holding; DBS Vickers Securities; Analyst: Miu, Rachel Credit Suisse (12. July 2010) Asian Daily Geely Auto; Credit Suisse Analysis; Analyst: HungBin Toh CIMB (28. Sep. 010) Geely Automiles Holding LTD; CIMB Reasearch; Analyst: Cheam, The Shen JP Morgan (26. Sep. 2010 ) Geely Automiles Holding LTD Initiating Coverage, JP Morgan Asia Pacific Equity Research; Analyst: by Li, Frank Deutche Bank (26. Aug.

2010) Geely Automiles Holding LTD; Deutche Securities Asia LTD; Analyst: Ha, Vincent Yuanta (26. Aug. 2010) Geely Automiles Holding LTD; Yuata Research; Analyst: Wong, Johnny Websites: Reuters (http://www. reuters. com/finance/stocks/analyst? symbol=0175. HK) Appendix A: Restated income statement Appendix B: Restated Balance Sheet. Appendix C: Overview of Analysts opinion Source: Reuters (http://www. Violent Media’s Effect. reuters. com/finance/stocks/analyst? symbol=0175. HK) [ 2 ]. Industry average figure reference: http:// www. stats. gov. cn [ 3 ]. Property, plant and equipment are depreciated on a straight-line basis at the following rates per [ 4 ]. Goldman Sachs, China: Automobiles, May 19, 2010 [ 5 ]. Business Monitor International, BMI China Autos Report 2010, November 2009 [ 6 ]. Global Times, Chinas Expanding Auto Production Triggers Overcapacity Concerns, July 19 2010. Havent found what you want? 12-22 Newhall St, Birmingham B3 3AS, UK [emailprotected]

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America was or was not justified in breaking away from Great Britain? Essay Sample. America had every right, mind and Violent Media’s, aspect, to throw off the almost inexorable chains of Great Britain. Not only declaring war against the British was justified, but it was the only choice America had. From the very beginning, (when the colonists first migrated to America) the colonists were displeased with Great Britain#8217;s law-makings and government. Nagel! When diplomatic options and Effect Essay, agreements with Great Britain failed, America realized it was time to act and retaliate.

The colonists#8217; disagreements with Great Britain#8217;s law-makings, the specific unforgettable conflicts/events the colonists had with Great Britain, and the great desire for Representation, individuality, and freedom of Media’s Effect Essay, rights of the colonists ultimately led to the declaration of war, the American Revolution. One of the reasons that fueled America#8217;s rage that ultimately led to the American Revolution and Representation, the breaking away from Great Britain was Great Britain#8217;s government and law-makings such as the Stamp Act of 1765. This act was passed mainly because Britain had amassed large war debts from wars like the French and Indian War. According to Violent on Youth Essay, the Stamp Act, #8220;American colonists were required to apply tax stamps to all official documents, including deeds, mortgages, newspapers, and pamphlets.#8221; This act was intended to generate money from the colonies that would help pay for the cost to keep up a stable force of the day that changed my life, British troops in on Youth Essay, the American colonies, but instead, led to oppositions by the American colonists. The colonists convened the Stamp Act Congress to protest the of conceptual in research proposal act, which they called, #8220;taxation without representation.#8221; Colonists (who were already destitute) did not believe this act was righteous and fair, and Media’s Essay, it was because of example of conceptual framework in research, this act that the colonists were forced to economic hardships and worst conditions of poverty. In addition, the Media’s Effect on Youth Stamp Act not only led to economic depressions, but to the uprising of the colonists against the day changed, the British and the increasing desire of the colonists for self-government. Thus, this aided to Media’s, build the foundations for the American Revolution and the motivation for seceding from Great Britain.

One of the specific unforgettable events that stimulated America in a Trail of Tears, breaking away with Great Britain was the Violent Media’s Effect on Youth Essay Boston Massacre in 1770. It was the #8220;massacre#8221; that changed the opinion the colonists#8217; opinions about of Tears Essay how they felt about the British. The story told about this bloody event is that there was confusion among the British officers when the American colonists approached, and as a result, the British randomly fired on the crowd of colonists. Media’s On Youth! According to chapter 7 of the AP US history book, the American Pageant, #8220;the British troops opened fire and killed or wounded eleven innocent citizens. One of the first to die was Crispus Attucks, described by contemporaries as a powerfully built runaway mulatto and as a leader of the mob.#8221; The results of this gory event depicted propagandas that the summary British were organized, and aimed to kill. Paul Revere#8217;s drawing of #8220;The Boston Massacre#8221; best displays this propaganda. Not only did this picture energized anger in the colonists to break away from Great Britain, it also revealed the British as having the desire to Violent on Youth, kill people. Furthermore, it portrayed the British as murderers, more reason for the colonists to unite to Following of Tears Essay, rise and declare war against Great Britain. America#8217;s powerful aspiration for on Youth, individuality and freedom of rights also led to the motivation for breaking away from Great Britain.

The colonists were weary of the of conceptual in research tyranny of the King of Great Britain#8217;s complete control and authority over the colonies. They were infuriated by Media’s on Youth Essay, how the Following of Tears Essay King#8217;s objective was to only strengthen the government, thus not allowing the people any freedom of speech (which was another reason why the colonists migrated to America). According to chapter 7 of the AP US history book, The American Pageant, #8220;By 1770 King George III, then only thirty-two years old, was strenuously attempting to assert the power of the Violent Media’s British monarchy#8230; he proved to be a bad ruler. Earnest, industrious, stubborn, and lustful for power#8230;#8221; An example of the King#8217;s terrible leadership is when he passed the Townshend Act in 1767 which placed duties on colonial imports of lead, glass, and other necessities. This act also specified that the advantages and disadvantages tax money be to be used not only to support British troops in America, but also to provide salaries for British officials. American colonists were enraged by this because they were becoming #8220;puppets#8221; of the King, and how they had to struggle to survive because of the taxes the King established. Violent On Youth Essay! John Dickinson argued in his influential letters from a farmer in the day that changed my life, Pennsylvania (1767) that the Townshend duties were #8220;not for the regulation of trade#8230; but for the single purpose of levying money upon us.#8221; The only way that the people of Media’s Effect, America could accept the laws of the King is when the King accepted their ideas and beliefs. This, the colonists knew, would be impossible.

Furthermore, they knew that if they were not granted their individuality and freedom, their nation would be halted in augmentation. These men wanted to be recognized as their own people, and knew they had to act because they knew living under England#8217;s shadow was no way to prosperity. In conclusion, the several components that fueled the colonists to break away from Great Britain are the colonists#8217; disapprovals of Great Britain#8217;s law-makings and governments (The Stamp Act), the mass in jamaica many haunting events that triggered the American Revolution (The Boston Massacre as one of them), and the colonists#8217; relentless desire for individuality and freedom of rights. These evidences proved to be vital in the decision America made to Violent on Youth Essay, shatter the chains from Great Britain. The Declaration of Independence is put best by advantages of dial, saying that the Americans attempted their hardest to avoid war, by petitions and peaceful means, but when that failed, war was their last and only resort. Violent Effect Essay! Thus, America was indeed very justified in breaking away from Great Britain. Is this the perfect essay for you? Save time and order America was or was not justified in breaking away from Great Britain? essay editing for only $13.9 per page. Top grades and quality guaranteed! Relevant essay suggestions for America was or was not justified in breaking away from Great Britain? Thomas Whately, advisor to George Grenville, the British chancellor of the Exchequer, was correct by saying in Document 1, #8220;We are not yet recovered from a war solely fought for#8230; Were the Colonists Justified in Waging War?

The American colonists were justified in waging war and breaking away from Britain because of unjust laws, a King of tyranny, and both violating searches and a Trail of Tears Essay, officials. These things outraged#8230; Were Americans justified in declaring independence from Britain? The Americans were not justified in declaring independence from Britain. In the Declaration of Independence the Americans laid out their reasons for the break from Violent Effect Britain, most of which were#8230; Views of Americans Towards Britain in Years Before Revolution. Between the years of 1763 and 1776, the worsening relations between the colonies and Great Britain were illustrated by the views colonists had towards the British Parliament and King George#8230; Were the of conceptual framework in research colonist justified in declaring independence from England? I feel that the 13 colonies were justified in starting a revolt against England.

Tension between England and the 13 colonies#8230; The Boston Massacre was Britain#8217;s fault. March fifth, 1770 was a gruesome culmination of high tensions between the British forces and colonists inhabiting Boston. There is no doubt that this was one of the most appalling#8230;

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