Woolworths Case Study Draft Essay Example for Free

Woolworths Case Study Draft Essay Part 1: Goodwill and Discontinued Operations a) Carrying value of goodwill 24 June 2012 The carrying value of goodwill in Woolworth’s consolidated financial statements was $3221.8 Million (M) at 24 June 2012. This figure is included within ‘intangible assets’ on the consolidated balance sheet and exact amount is disclosed in the Note 11 of Notes to consolidated financial statements (Woolworths 2012, p 126). b) Movements in carrying value of goodwill The carrying value of goodwill at the beginning of the period was $3227.7M (Woolworths 2012, p 126). An additional $42.1M was recognised throughout the year due to additional acquisition of businesses, with less . 5M for disposals and $0.7M for other expenses. Woolworths also recognised an impairment loss of $70.6M for the year. There was also an effect of movements in foreign exchange rates of $24.8M, which resulted in a carrying amount of $3221.8million at the end of the period (Woolworths 2012, p 126). c) Impairment loss on goodwill i) Impairment loss on Goodwill at 24 June 2012 was $70.6M. ii) Woolworth’s accounting policy with respect to impairment testing of goodwill is consistent with AASB 139 Intangible Assets. Note 11 (Woolworths 2012, p 126) specifically states that intangible assets (such as goodwill) with indefinite useful lives are tested for impairment annually and when there is indication that the asset may be impaired, the impairment loss is recognised when the carrying amount exceeds the recoverable amount. Recoverable amount is further defined to be the higher of fair value less cost to sell and value in use. iii) Impairment loss on goodwill was a result of Woolworth’s announcement to restructure and divest the Consumer Electronics Business. The amount is also disclosed as ‘discontinued operations’ in Note 33 (Woolworths 2012, p 96) for $366.2M. AASB 5.32 defined discontinued operations to be a part of an entity that represents a separate line, or part, of business or geographical area or subsidiary acquired exclusively for resale that had been disposed or classified as held for sale. A separate line item from continuing operations is required as a single figure disclosed in statement of comprehensive income or Notes. iv) The fair value less costs to sell figure of $420M (Woolworths 2012, p 174) includes impairment loss, restructuring provisions relating to goodwill, inventory, plant property and equipment, and lease exit costs. Since the impairment loss attributed to goodwill was $70.6M. Hence (420-70.6M) = $349.4M is attributable to fair value losses related to net  assets. Since held for sale assets disclosed in the Balance sheet (Woolworths 2012, p 99) is $376.7M, the net assets prior recognising the loss would have approximately been (349.4+376.7M) $726.1M, assuming that transaction costs and lease exit costs are negligible. v) The Dick Smith Electronics brand and stores were sold for $20M (Janda 2012). As the held for sale assets was recognised to be $376.7M, the net loss Woolworths would recognise is (376.7-20) $356.7M in the 2012-2013 financial period. Part 2: Investments in controlled entities a) Woolworths Limited group structure b) Non-controlling interest The carrying dollar value of the non-controlling interest (NCI) in Woolworths Limited as at 24 June 2012 was $258.1 million (Woolworths 2012, p 103). This NCI is the dollar amount of the combined equity interests in the parent companys subsidiaries not owned by the parent. When interviewed in 2013 Professor Chris Nobes confirmed that the figure also represented the profits made by NCI’s that have not yet been allocated to them. The respective NCI for the Woolworths Limited group applies to the external equity interests held in Woolworths Limiteds subsidiaries of ALH Group Pty Ltd, Australian Independent Retailers Pty Ltd, Bergam Pty Limited, Hydrox Holdings Pty Ltd and Statewide Independent Wholesalers Limited (Woolworths 2012, p 164-167). Woolworths Limiteds annual report is not useful for non-controlling shareholders. The reason for this is the information regarding NCI is aggregated as it combines all the information from separate subsidiaries with NCIs into combined figures which cannot be separated by a shareholder. It may then be argued that information regarding NCI should be more detailed however when interviewed in 2013 Professor Chris Nobes suggested that non-controlling shareholders should only be interested in the reports of their subsidiary as they are more detailed. Fortunately there are separate financial statements available for the subsidiaries with non-controlling interests. The reason for this is that the class action, ASIC Class Order 98/1418, exempting some subsidiaries from reporting requirements only pertains to wholly-owned subsidiaries (Woolworths 2012, p. 168). Therefore separate financial statements are available for subsidiaries of Woolworths Limited that have non-controlling interests. c) AASB 3.19 The Australian Accounting Standards Board (AASB) (2010, para 19) gives controlling entities a choice between measuring the non-controlling interest (NCI) using the 100% method or the proportionate method. The proportionate method does not assign goodwill to the NCI as it relates to the subsidiarys net identifiable assets. In comparison the 100% method requires the non-controlling interest to be measured at its fair value which includes goodwill. One reason an entity may prefer to use the proportionate method is that it does not require a calculation of fair value for the NCI. The calculation of fair value for the NCI may be difficult in circumstances where an active market does not exist. Using Woolworths Limiteds annual report we can gather information relating to which method they chose to use. Their significant accounting policies relating to goodwill state that goodwill represents the difference between the cost of the acquisition and the fair  value of the net identifiable assets acquired (Woolworths Limited 2012, p 108). Therefore this policy describes the same process for identifying goodwill as the process used in the proportionate method and it may be concluded that Woolworths is using the proportionate method. The issues regarding the choice between the two methods are interesting. The choice seems to be more beneficial for the parent entity rather than the NCI as a company such as Woolworths Limited may choose to consistently use the proportionate method. This may misrepresent the value of the NCI to be lower as this method does not have a goodwill component for the NCI which the 100% method often has. Therefore the disclosures under the proportionate method made by Woolworths Limited regarding the NCI values could be undervalued. When interviewed in 2013 Professor Chris Nobes suggested that the choice between the two methods may affect comparability of financial statements. This point is reiterated by the International Accounting Standards Board (2012, para BC210). A further issue according to the International Accounting Standards Board (2012, para BC213) is that the 100% method is more expensive to use which is one key reason for the inclusion of the proportionate method. Using all these arguments one can see that there are many perspectives about which method is better and whether a choice should have been included in the standard. Still we should not be too concerned as Professor Chris Nobes confirms in his 2013 interview that not many business acquisitions have NCI components or they have an insignificant NCI component and therefore the issue of choice under AASB 3.19 is small. Part 3: Segment note a) Reportable segments Woolworths (2012) has identified five reportable segments related to continuing operations according to AASB 8.13. Each reporting segment is managed separately due to the varying products and services they offer, as well as the requirement of ‘different technology and marketing strategies’ (Woolworths 2012, p 119) of each business unit. The reportable segments are split into two categories of Retail Operations and Hotels, with the former comprising of Australian Food Liquor, New Zealand Supermarkets, Petrol and Big W. As at 24 June 2012, the Australian Food Liquor segment comprised of 872 Australian supermarkets, totalling approximately 6.52% of total EBIT, and 160 Dan Murphy Liquor stores (Woolworths 2012). The Woolworths convenience liquor businesses; BWS and Woolworths Liquor are also included within the segment. This segment relies heavily on consumer confidence levels as the bulk of the sales stems from general groceries found at the supermarket as an alternative to fast food outlets that offer more affordable meal options. Similarly, the New Zealand Supermarkets segment specialises in the ‘procurement of Food and Liquor and products for resale to customers in New Zealand’ (Woolworths 2012, p 119). The ‘Countdown’ supermarkets operate in the same way as the Woolworths supermarkets in Australia, with a total of 161 supermarkets opened across the country as at June 24 2012. In the Petrol segment, the ‘procurement of Petroleum products for resale to customers in Australia’ (Woolworths 2012, p 119) is categorised through the Woolworths/Caltex alliance sites. This segment, coupled with the Big W segment, ; the ‘procurement of discount general merchandise products for resale to customers in Australia’ (Woolworths 2012, p 119) round off the reportable retail operations segments as the smallest, bearing not as big influence as the supermarket segments in relation to the group. Furthermore, the hotels segment is heavily affiliated with the liquor stores and supermarkets, as they provide leisure and hospitality services including alcohol and food, as well as gaming and accommodation. There are 294 hotel venues in operation as at June 24 2012, with Dan Murphy’s and BWS stores affiliated with over 500 hotels in total. b) Investment analysis When determining the ‘better’ investment between Woolworths Limited and Wesfarmers Limited amidst volatilities in the New Zealand economy and Australian groceries, liquor and petrol sectors, it is important not to make direct comparisons between the two companies encompassing different segment disclosure methods despite the compliance with AASB 8. Woolworths has identified New Zealand Supermarkets as a reportable segment, presenting comprehensive revenue data including other operating revenue and inter-segment revenue. Contrastingly, Wesfarmers does not comply with AASB 8.23 a) and b) by only disclosing the New Zealand revenue by geographical location. Nevertheless, assuming that the sales to customers was used by both companies, the following revenue calculations were calculated since the previous year: Comparability between the competing companies becomes increasingly difficult when analysing the investment in relation to the volatile groceries, liquor and petrol sectors. Whilst Woolworths identified the Australian Food Liquor and Petrol business units as different reportable segments, Wesfarmers grouped this financial information under ‘Coles’. The information regarding the allocation of revenues between operating units for Wesfarmers is not provided, hampering an ethical investing choice for external users. Despite the reporting issues, a revenue analysis was conducted in order to determine the most profitable company. Since the Coles segment was determined by a sum of undisclosed food, liquor, hotels, convenience and petrol data, the following analysis used Woolworths as a sum of its same divisions: Though abiding by AASB 8, Wesfarmers disclosed as little information as possible. It is clear that Wesfarmers possesses a fear of disclosure, and would rather present aggregated data in order to hide potential information  about risk, losses and debt levels for a particular Company 2012 $A revenue (millions) 2011 $A revenue (millions) $A change (millions) % change Woolworths 4301.8 4110.5 191.3 4.654% Wesfarmers 1283 1174 109 9.2845% Company Segment Revenue 2012 (millions) Segment Revenue 2011 (millions) Segment EBIT 2012 (millions) Segment EBIT 2011 (millions) % change in segment Revenue % change in segment EBIT Woolworths 45,815.6 43,478.4 3140 2980.2 5.34% 5.36% Coles 34,117 32,073 1356 1166 6.373% 16.3% segment. However, when removing segment reporting variability between the two companies, it is clear that greater growth opportunities exists for Wesfarmers, and is therefore the recommended investment. c) AASB 8 non-disclosures i) Despite clear disclosure of revenue for its reportable segments, Woolworths did not disclose its segment assets and segment liabilities. Therefore, it is assumed that the company did not comply with AASB 8.21 b), where information about segment assets and liabilities was not disclosed. However, AASB 8.23 states that ‘an entity shall report a measure of liabilities for each reportable segment if such an amount is regularly provided to the chief operating decision maker’ (AASB 2010, p 15). Similarly, this extends to the non-disclosure of segment assets according to AASB 25: ‘only those assets that are included in the measures of the segment’s assets that are used by the chief operating decision maker shall be reported for that segment’. Here it is agreed that the CODM of Woolworths does not believe the risk and opportunities of these items are important, thus the non-disclosure in the segment reports. ii) Whilst Woolworths was able to disaggregate the diverse aspects of their total business, Wesfarmers aggregated the majority of their core business operation within the ‘Coles’ segment. It is clear that Wesfarmers does not comply with AASB 8.20; by not enabling users to ‘evaluate the nature and financial effects of the business activities in which it engages’ (AASB 2010, p 14). However, AASB 8.22 b) states that an entity shall disclose ‘the types of products and services from which each reportable segment derives its revenues’ (AASB 2010, p 15). It is clear that Wesfarmers abide by this standard by disclosing the components of the Coles segment, instead of the revenue figures generated from each segment. d) ACCC investigation i) Acts of ‘unconscionable conduct’ such as high bargaining strength for Woolworths and Wesfarmers resulting in demands for extra payments, penalties and threat to suppliers that products will be removed from shelves (Rolfe 2013) would be highly financially beneficial to the two groups as they are significantly lowering the costs of supplies, and thus allowing opportunity to increase profit margins. This is further evidenced in Coles’ 15% increase in pre-tax earnings in 6 months (Rolfe 2013) and a 24% increase in pretax earnings for Wesfarmers despite the same level of stock. The two groups also demonstrate significant market power through ‘interesting’ competitive methods (Kidd 2013) of purchasing each  other’s profitable stores as the purchases show the ‘significant financial strength’ (ACCC 2013) of the business. ii) Coles and Woolworths can minimise disclosures as to hide ‘unconscionable conduct’ and ‘misuse of market power’ by not disclosing costs of supplies in their segment notes. AASB 8 requires a ‘management approach’ to be adopted where information used by the ‘chief operating decision maker’ internally for segment evaluation is disclosed (AASB 8.5b). This allows great  flexibility for management to aggregate figures into the disclosed segments which Woolworths had divided into geographical and operational segments. The aggregated figures disclosed are summarised and does not disclose any information about cost of supplies (Woolworths 2012, p 119). In fact, only revenues attributable to each segment is reported. Australian Food and Liquor segment reported $37,681.4M revenue, which depicts a substantially larger segment relative to New Zealand Supermarkets, Petrol, Big W and Hotels, which average at $5000M each. iii) Since Woolworths’ business in Australia is significantly larger than other segments, from the perspective of consumer groups, it would be beneficial to further divide the Australian Food and Liquor segment into State segments, for example. Currently, Australia has 872 stores, New Zealand has 161 stores and that NSW, QLD, VIC all have larger number of stores than New Zealand, it would be beneficial to further dissect the segments into regional groups.

Reflection on Food Waste

Reflection on Food Waste As a part time employee in a grocery store during my early high school days, I witnessed on a regular basis that at the end of each day a large quantity of baked goods and perishable food items which had reached their shelf life were carted to the garbage compactor. At the same time at the stores front entrance there were a couple of aged and homeless people begging for alms in order to buy their daily meal. I wondered at the time as to why the discarded food could not instead be distributed to those in dire need of it waiting just outside. As I continued with my studies in university I realized that the same scenario was and is still being played out on a global scale where food does not reach the people who need it the most; but for different reasons. While in the case of the hungry outside the grocery store, the action may have been necessary to prevent pandemonium and inconvenience for the staff. However globally, human hunger and starvation is caused by food shortages resulting from environmental degradation, rapid population growth, questionable technology and current economic models. Through the Holy Bible, the basis of my faith, I know that God has given all human beings dominion over the earth and all its creatures but for our own selfish purpose we tend to interpret the facility granted to us as permission to unbridled mastery over nature. We ought to remember that being given dominion over the earth merely makes us custodians of His creation. Gerald Barney, a scientist aptly stated that, for the first time in the history of Creation, the life support systems of the planet earth are being destroyed by human activities. Throughout history humans have caused locally significant damage to the environment, but never before have human numbers and actions combined to threaten the integrity of the entire planet.[1] In light of this shocking reality there is an ever increasing need for the implementation of a just and sustainable global food system to prevent humanity from crises, for hunger and malnutrition are responsible for more deaths today than any known disease . Each and every human being must be responsible participants in the reduction of global climate change which has caused major environmental disasters. Floods and droughts are known to be the main causes of worldwide food shortages and famines. Since my childhood I was always taught not to waste food and not to eat as if there was no tomorrow. I realize the wisdom in that teaching as there is not only an environmental cost of getting food on the table but it also leaves a detrimental footprint on nature in the form of global warming, pollution, destruction of the eco system, degradation of arable land and fresh water supply. Unlike the aboriginal peoples of our land who treated the earth and nature as sacred using it strictly for basic living needs, in our society as a whole we conceive of the land in terms of ownership and use. It is a lifeless medium of exchange.[2] How do we cultivate a way of life that does not violate the integrity of creation? Will we use the knowledge, be ready to use every effort and continue in our perseverance to prevent further damage to the environment and replenish the arable lands that now lie wasted? The answer is in the hands of each and every human being. Just as each member of a family is responsible for the maintenance and protection of their home, we as a global family must adopt the same attitude caring for our planetary home, we call Earth. While environmental degradation may be the indirect result of our actions, we humans are directly in control of the size of our families and the global population at large, however controversial the methods employed may be. Can the rate of the worlds staple crop production keep feeding the hungry on this earth? Both my parents came from large families in India and with the modest incomes both sets of grandparents earned; they were able to nourish their children. Basic fruits and vegetables were home grown and staple grain was locally produced or easily available. Hunger and malnutrition, I was told was minimal in those times. Presently, in the land of my ancestors, having large families is still considered a blessing from God in spite of widespread poverty, malnutrition and hunger; a human crises that is rising exponentially. They were fruitful and prolific; they multiplied and grew exceedingly strong, so the land was filled with them.[3] The land is said to be full when the food sup ply is inadequate and the environment is deteriorating. It is also known that a full environment is a dynamic concept depending on the application of human wisdom and knowledge.[4] The same Creator who declares children are a reward is also displeased when overpopulation causes destruction of His handiwork. Do we have the wisdom and the knowledge to offer proper advice for human reproduction? If so, will we be able to ensure the present global population and guarantee future generations an abundance of what creation has to offer? If we fail to find positive answers to the issue of overpopulation, the global food shortage will create chaos in poor nations further causing these failed states to export diseases and refugees. The earth does not contain resources to feed the hungry indefinitely for this will cause global grain shortage which in turn would raise prices and put food out of reach of even more people. In our quest for the growing demand of food worldwide, we must do all within our power to make agriculture as productive as possible. As a student of commerce and economics I am aware that less land is required for farming if production is maximized per acre leaving more land to be left in its wild and natural state. Biotechnology through genetic engineering of seeds has been a boom to agriculture by increasing the yield of crops, using less water and pesticides, creating less stress on our fragile land and producing grain of a higher nutritional value. However the use of biotechnology is a sharply divided issue because it also gives humans the right to claim a patent on life form which is an ethical concern. Are we trying to play God? Needless to say the very success of natural science has bred an attitude which has allowed for the exploitation and domination of the natural world in complete disregard to the social and ecological consequences.[5] Firms try to maximize profits where the marginal cost of production equals the marginal benefit derived from the produce. However, this current economic model, in my opinion, is flawed as it does not include the implicit cost of environmental degradation caused through the use of pesticides or improper crop rotation that is incurred in the production of food. Essentially, companies in the food biotech industry only seem to care about maximizing their profits regardless of how it affects the environment or humans that depend on food for survival. It is very disturbing to hear that food biotech companies purchase some of the crops from third world countries in order to genetically modify the seed only to sell it back at prices that are at a very high premium.A biotech company in the U.S. bought coffee beans from Brazil in order to genetically modify them so that they would be more weather-resistant to climate changes in Brazil that threatened future crops. However, when it came time to selling these genetically modifi ed beans back to Brazil, this same biotech firm marked up the price to the extent that Brazil was unable to afford it. Developing countries should not be subjected to this unethical practice carried out by such firms. Therefore, in my opinion, in order to build a sustainable future for people, a new earth economic model needs to be developed, one that aligns the economy with ethics and the environment. Will future life and production be controlled through biotechnology and selfish economic considerations? To counter any advancement that technology has made to benefit human food security, staple grains are now being grown to produce bio-fuels. According to the teachings of my faith, do not, for the sake of food, destroy the work of God. Everything is indeed clean, but it is wrong for you to make others fall by what you eat.[6] It would prick my conscience to realize that in order to drive my car across Canada it would require an acre of corn if not more; grain that could have been used to feed so many hungry and malnourished people in this world. The need for the development of alternate fuels is no doubt an urgent issue but it should not be at the cost of seeing our very own species placed in dire straits; an ethical irresponsibility. The last third of the twentieth century witnessed an unprecedented shift in the Human-Earth relationship; the Third Mediation as Thomas Berry termed it. Human impact now threatens Earths capacity to regenerate life as we know it and love it. Despite our basic dependence for survival on this planet, we continue to damage it through environmental degradation, overpopulation, massive use of technology and economic greed. If we are to achieve a globally just and sustainable food system, we have to learn to live in a way that does not outstrip natures capacity to regenerate itself on its own time cycles and terms. Further we should avoid forcing changes in natural systems themselves, changes that are at times even difficult for adaptable species to accept. Endnotes Rasmussen, Larry. Toward an Earth Charter. Religion Online. The Christian Century Foundation, 23 Oct. 1991. Web. 14 May 2010. . N. Scott Momaday, A First American Views His Land, National Geographic Magazine (July 1976), 18. Meeks, Wayne A. Exodus. HarperCollins Study Bible: New Revised Standard Version (with the Apocryphal/Deuterocanonical Books). Student ed. SanFrancisco: HarperCollinsPublishers, 1994. 79. Print. Fick, Gary W. Ecology in the Bible. Food, Farming, and Faith (S U N Y Series on Religion and the Environment). Albany, New York: State University Of New York Press, 2008. 37. Print. Gorringe, Timothy. Playing God. Harvest: Food, Farming and the Churches. London: SPCK, 2006. 117. Print. Meeks, Wayne A. Romans. HarperCollins Study Bible: New Revised Standard Version (with the Apocryphal/Deuterocanonical Books). Student ed. SanFrancisco: HarperCollinsPublishers, 1994. 2135. Print.

Impetous Actions And Their Tragic Consequences :: essays research papers

Impetuous actions can dramatically alter the life of anybody in many ways. The lack of thinking things through and acting solely on one particular emotion can lead to unanticipated results. In William Shakespeare's Romeo and Juliet, Shakespeare shows how impetuous actions combined with the need for lust can lead to a tragic end. It wasn't fate but rather Romeo and Juliet's hasty actions that brought their untimely deaths. Love at first sight ultimately led to the premature deaths of the two lovers. At the Capulet party was where Romeo first sees Juliet: O, she doth teach the torches to burn bright! It seems she hangs upon the cheek of night As a rich jewel in an Ethiop's ear- Beauty too rich for use, for earth too dear. So shows a snowy dove trooping with crows As yonder lady o'er her fellows shows. The measure done, I'll watch her place of stand And, touching hers, make blessed my rude hand. Did my heart love till now? Forswear is sight, For I ne'er saw true beauty till this night. (1.5.51-60) At the very first sight of Juliet, Romeo immediately falls in love with her. He doesn't begin to think about her character, age, or even about whether she is married. If Romeo had taken his time and gotten to know Juliet and thought about what might come of this attraction, the tragic ending to their story could have been avoided. Romeo is not all to blame for the tragedy. Juliet felt exactly the same way about Romeo when she first saw him: My only love sprung from my only hate! Too early seen unknown, and known too late! Prodigious birth of love it is to me That I must love a loathed enemy. (1.5.152-155) Like Romeo, if Juliet had just taken some time to think things through, this disaster might have never occurred. After the two lovers had met, they made many hasty decisions and actions that only made their circumstances worse. The night the two sweethearts met the decided to get married: Three words, dear Romeo, and good night indeed. If that thy bent of love be honorable, Thy purpose marriage, send me word tomorrow, By one that I'll procure to come to thee, Where and what tine thou wilt perform the rite, And all my fortunes at they foot I'll lay And follow thee my lord throughout the world. (2.2.149-155) The very next day the Romeo and Juliet were married in secret to prevent another fight erupting between the Capulet and Montague families.

The Rise Of Women In France Essay -- essays research papers

The Rise of Women in French Society During the Middle Ages, French society, along with the rest of Europe, revolved around the warrior class. In order to gain land and power nobles gave their services in the military and lived violent lifestyles. Treatment toward women during this period was harsh. "In a society of landed nobility dispersed fairly loosely across the country in their castles and estates, the likelihood of a preponderance of the man over the woman and thus of a more or less unconcealed male dominance, is very great." (Elias, Page 325.) Men beat their wives and typically had little respect for them. Marriage was based not on love but on increase in influence and wealth. "But often enough we hear of the other side, of a warrior, whether a king or a simple seigneur, beating his wife. It seems almost an established habit for the knight, flying into a rage, to punch his wife of the nose till blood flows." (Page 324.) However, from the fifteenth to the eighteenth centuries dramatic pol itical changes emerged throughout Europe and a high court system developed in France. Power shifted to revolve around the monarch who created palace life. "By and large it can be said that a more peaceable social life formed about the lady of the court†¦" (Page 325.) When feudalism ended, so did the glory of battle. France was in a relatively peaceful state. Thus, in order to gain favo...

The Truth About Platonic Friendships :: Platonic Love and Friendship

The researcher's qualitative research consisted of speaking with platonic friends of the opposite sex in casual random settings. The qualitative research was completely random using friends by chance that had no idea of the experiment. In doing so the researcher realizes that it is unethical, but figured it was the only way to find the real answers to his problem. During the conversation the researcher at one point or another came to ask the same four questions to all of the subjects involved in the experiment. The four questions were as follows: 1) we are strictly platonic friends, right? 2) Why are you my friend? 3) Have you ever wanted to be more than friends? 4) Is it a possibility for us to be more than friends? The "so called" platonic friends names will all remain confidential in order to keep their business private. To this point there have been ten random friends that have partaken in the qualitative study. In most of the studies the answers stayed consistent. To question number one all ten subjects agreed that "Yes we are platonic friends." For question number two, all sorts of answers were recorded. Most stayed along the line of conventional reasons for being a friend. Some mentioned reasons such as cute, funny, easy to talk to and popular. Three of the ten did however mention that they in fact didn't want to be friends when we first met. They stated they were looking for ore from the beginning it just didn't happen. Question number three an astonishing seven out of ten platonic friends noted they at one point of another did want to be ore than friends. One individual went as far as to say that they quit being my friend due to the fact that she found out that I was involved with another girl. In question four again another seven out of ten friends agreed that something more could become of our friendship. Two mentioned that they had hoped that it would have already happened. Most that replied yes to question number four either looked puzzled of asked if I was still involved with my girlfriend.   Ã‚  Ã‚  Ã‚  Ã‚  In one example for the researcher was left stunned. For privacy sake we will call the subject by the fake name of molly. In the platonic informal interview with Molly the researchers exact problem was proven just the way predicted.

John Lewis

Good day, everyone. Since you’ve just heard about the plus side, let us now talk about the weakness. Some may find the first few familiar but I’ll mention them again anyway. * Firstly, in 2008, a scandal over expenses claimed by Members of Parliament revealed that John Lewis prices were being used as a guide to the maximum costs refundable to MPs when equipping London pieds a terre at a public expense. * Secondly, last year, pre-tax profits fell 3. 8%, to ? 354 million. * Thirdly, the very wet summer in 2012 has affected profits of businesses including retail and the hospitality industry. Besides that, there are a number more that we’ve manage to look up such as how * John Lewis performance slipped over the 2010 Christmas period. While all retailers practically underperformed during this time, John Lewis was the most exposed.At the time of writing, the share price was 361p with the 52-week low of 367p and high of 759p, which means that John Lewis M&S had lost more than 50% of its value during the year (Sunday Times, 2011). * Similarly, the price/earnings ratio of 9. is very low as compared to that of its competitor’s i. e. Mark and Spenser. The price/earnings ratio is the key indicator of investor assurance in a company (Arnold, 2002). * Next, John Lewis has recently started cutting prices to match up the ever increasing competition. This may devalue the brand (The Economist, 2012). * Lastly, The company has been recently criticized for fuelling accusations of poor managerial incompetence, corporate governance and lack of transparency infuriating many large investors (Nugent and Hawkes, 2012). * Thank you. John Lewis Good day, everyone. Since you’ve just heard about the plus side, let us now talk about the weakness. Some may find the first few familiar but I’ll mention them again anyway. * Firstly, in 2008, a scandal over expenses claimed by Members of Parliament revealed that John Lewis prices were being used as a guide to the maximum costs refundable to MPs when equipping London pieds a terre at a public expense. * Secondly, last year, pre-tax profits fell 3. 8%, to ? 354 million. * Thirdly, the very wet summer in 2012 has affected profits of businesses including retail and the hospitality industry. Besides that, there are a number more that we’ve manage to look up such as how * John Lewis performance slipped over the 2010 Christmas period. While all retailers practically underperformed during this time, John Lewis was the most exposed.At the time of writing, the share price was 361p with the 52-week low of 367p and high of 759p, which means that John Lewis M&S had lost more than 50% of its value during the year (Sunday Times, 2011). * Similarly, the price/earnings ratio of 9. is very low as compared to that of its competitor’s i. e. Mark and Spenser. The price/earnings ratio is the key indicator of investor assurance in a company (Arnold, 2002). * Next, John Lewis has recently started cutting prices to match up the ever increasing competition. This may devalue the brand (The Economist, 2012). * Lastly, The company has been recently criticized for fuelling accusations of poor managerial incompetence, corporate governance and lack of transparency infuriating many large investors (Nugent and Hawkes, 2012). * Thank you.

Melba Essay

Throughout Mà ªlà ©e's journey to fight segregation, her grandmother and faith n God were her greatest weapons. In 1 957, Melba Poetical was extensionally and preparing for her integration I to Little Rock Central High School, an all white school. She was continuously tormenter d by teachers and students while attending but her grandmother's words and her faith in God I s what keeps her going. An instance in which her grandma's words were very influential, was w hen Melba reminded herself of her grandma's advice when faced with a barrage of nasty words. I squared my shoulders and tried to remember what Grandma had said: ‘God loves you, child; no matter what, he sees you as his precious idea. â€Å"‘ As a result of remembering those woo rd, Melba went rigorously to her next class and ignored the nasty words shouted at her by classmates. Melba writes in her journal, â€Å"There seems to be no space for me at Central Hi ugh. I don't want integration to be like the neuros urgeon. Please, God, make space for m e. Melba was becoming discouraged and was realizing that integration was far more difficult t than she originally thought, yet she still had a strong faith in the Lord and asked for his help, knowing that he will provide for her. Me Lie 2 Another time where her grandma helps her, was when Melba was in gym class s, where her classmates taunted and jeered her. She ignores them, but as it continued, SSH e struggled to ignore it and to escape the cruelty of the nature.Soon the gym teacher tells her to g et inside, so she ran away, she was soon chased by some angry students and was tripped by one o f them. From falling down, she ends up getting scraped up and, more and more students SST rated to taunt her, she gets up and runs inside the school hoping to find the office. After opening g many doors, having no luck in finding the office, she was in tears and ready to give up. But then her grandma's voice comes into her head, â€Å"God never loses one of his flock.