Garnett Jackson, the founder, and CEO of Tech Tune-Ups, stared out the window as he finished his customary peanut butter and jelly sandwich, contemplating the dilemma currently facing his firm. Tech Tune-Ups is a start-up firm, offering a wide range of computer services to its clients, including online technical assistance, remote maintenance, and backup of client computers through the Internet, and virus prevention and recovery. The firm has been successful in the 2 years since it was founded; its reputation for fair pricing and good service is spreading, and Mr. Jackson believes the firm is in a good position to expand its customer base rapidly. But he is not sure that the firm has the financing in place to support that rapid growth.

Tech Tune-Ups’ main capital investments are its own powerful computers, and its major operating expense is salary for its consultants. To a reasonably good approximation, both of these factors grow in proportion to the number of clients the firm serves.

Currently, the firm is a privately held corporation. Mr. Jackson and his partners, two classmates from his undergraduate days, have contributed $250,000 in equity capital, largely raised from their parents and other family members. The firm has a line of credit with a bank that allows it to borrow up to $400,000 at an interest rate of 8%. So far, the firm has used $200,000 of its credit line. If and when the firm reaches its borrowing limit, it will need to raise equity capital and will probably seek funding from a venture capital firm. The firm is growing rapidly, requiring continual investment in additional computers, and Mr. Jackson is concerned that it is approaching its borrowing limit faster than anticipated.

Mr. Jackson thumbs through past financial statements and estimates that each of the firm’s computers, costing $10,000, can support revenues of $80,000 per year but that the salary and benefits paid to each consultant using one of the computers is $70,000. Sales revenue in 2014 was $1.2 million, and sales are expected to grow at a 20% annual rate in the next few years. The firm pays taxes at a rate of 35%. Its customers pay their bills with an average delay of 3 months, so accounts receivable at any time are usually around 25% of that year’s sales.

Mr. Jackson and his co-owners receive minimal formal salary from the firm, instead taking 70% of profits as a “dividend,” which accounts for a substantial portion of their personal incomes. The remainder of the profits are reinvested in the firm. If reinvested profits are not sufficient to support new purchases of computers, the firm borrows the required additional funds using its line of credit with the bank.

Mr. Jackson doesn’t think Tech Tune-Ups can raise venture funding until after 2016. He decides to develop a financial plan to determine whether the firm can sustain its growth plans using its line of credit and reinvested earnings until then. If not, he and his partners will have to consider scaling back their hoped-for rate of growth, negotiate with their bankers to increase the line of credit, or consider taking a smaller share of profits out of the firm until further financing can be arranged.

Mr. Jackson wiped the last piece of jelly from the keyboard and settled down to work.

Can you help Mr. Jackson develop a financial plan? Do you think his growth plan is feasible?

Please provide balance sheet, income statements, and cash flow statements for 2013-2018. Please explain

Garnett Jackson, the founder, and CEO of Tech Tune-Ups, stared out the window as he finished his customary peanut butter and jelly sandwich, contemplating the dilemma currently facing his firm. Tech Tune-Ups is a start-up firm, offering a wide range of computer services to its clients, including online technical assistance, remote maintenance, and backup of client computers through the Internet, and virus prevention and recovery. The firm has been successful in the 2 years since it was founded; its reputation for fair pricing and good service is spreading, and Mr. Jackson believes the firm is in a good position to expand its customer base rapidly. But he is not sure that the firm has the financing in place to support that rapid growth.

Tech Tune-Ups’ main capital investments are its own powerful computers, and its major operating expense is salary for its consultants. To a reasonably good approximation, both of these factors grow in proportion to the number of clients the firm serves.

Currently, the firm is a privately held corporation. Mr. Jackson and his partners, two classmates from his undergraduate days, have contributed $250,000 in equity capital, largely raised from their parents and other family members. The firm has a line of credit with a bank that allows it to borrow up to $400,000 at an interest rate of 8%. So far, the firm has used $200,000 of its credit line. If and when the firm reaches its borrowing limit, it will need to raise equity capital and will probably seek funding from a venture capital firm. The firm is growing rapidly, requiring continual investment in additional computers, and Mr. Jackson is concerned that it is approaching its borrowing limit faster than anticipated.

Mr. Jackson thumbs through past financial statements and estimates that each of the firm’s computers, costing $10,000, can support revenues of $80,000 per year but that the salary and benefits paid to each consultant using one of the computers is $70,000. Sales revenue in 2014 was $1.2 million, and sales are expected to grow at a 20% annual rate in the next few years. The firm pays taxes at a rate of 21%. Its customers pay their bills with an average delay of 3 months, so accounts receivable at any time are usually around 25% of that year’s sales.

Mr. Jackson and his co-owners receive minimal formal salary from the firm, instead taking 70% of profits as a “dividend,” which accounts for a substantial portion of their personal incomes. The remainder of the profits are reinvested in the firm. If reinvested profits are not sufficient to support new purchases of computers, the firm borrows the required additional funds using its line of credit with the bank.

Mr. Jackson doesn’t think Tech Tune-Ups can raise venture funding until after 2016. He decides to develop a financial plan to determine whether the firm can sustain its growth plans using its line of credit and reinvested earnings until then. If not, he and his partners will have to consider scaling back their hoped-for rate of growth, negotiate with their bankers to increase the line of credit, or consider taking a smaller share of profits out of the firm until further financing can be arranged.

Mr. Jackson wiped the last piece of jelly from the keyboard and settled down to work.

Can you help Mr. Jackson develop a financial plan? Do you think his growth plan is feasible?

John Rigas (founder and CEO of Adelphia Communications Corporation) was an extraordinary man. Throughout his professional career, he was honored for his entrepreneurial achievements and his humanitarian service. Among other awards, he received three honorable doctorate degrees from distinguished universities, was named Entrepreneur of the Year by Rensselaer Polytechnic Institute (his college alma mater) and was inducted into the Cable Television Hall of Fame by Broadcasting and Cable magazine. He worked hard to acquire wealth and status. But a $2.3 billion financial fraud eventually cost Rigas everything. Rigas and his company, Adelphia Communications, started out small. With $72,000 of borrowed money, he began his business career in 1950 by purchasing a movie theater in Coudersport, Pennsylvania. Two years later, he overdrew his bank account to buy the town cable franchise with $300 of his own money. Through risky debt-financing, Rigas continued to acquire assets until, in 1972, he and his brother created Adelphia Communications Corporation. The company grew quickly, eventually becoming the sixth largest cable company in the world with over 5.6 million subscribers. From its inception, Adelphia had always been a family business, owned and operated by the Rigas clan. During the 1990s, the company was run by John Rigas, his three sons, and his son-in-law. Altogether, members of the Rigas family occupied a majority five of the nine seats on Adelphia’s board of directors and held the following positions: John Rigas, CEO and chairman of the board (father); Tim Rigas, CFO and board member (son); Michael Rigas, executive vice president and board member (son); James Rigas, executive vice president and board member (son); Peter Venetis, board member (son-in-law). This family dominance in the company was maintained through stock voting manipulation. The company issued two types of stock: Class A stock, which held one vote each, and Class B stock, which held 10 votes each. When shares of stock were issued, however, the Rigas family kept all Class B shares to themselves, giving them a majority ruling when company voting occurred. With a majority presence on the board of directors and an effectual influence among voting shareholders, the Rigas family was able to control virtually every financial decision made by the company. However, exclusive power led to corruption and fraud. The family established a cash management system, an enormous account of commingled revenues from Adelphia, other Rigas entities, and loan proceeds. Although funds from this account were used throughout all the separate entities, none of their financial statements were ever consolidated. The family members began to dip into the cash management account, using these funds to finance their extravagant lifestyle and to hide their crimes. The company paid $4 million to buy personal shares of Adelphia stock for the family. It paid for Tim Rigas’s $700,000 membership at the Golf Club at Briar’s Creek in South Carolina. With company funds, the family bought three private jets, maintained several vacation homes (in Cancun, Beaver Creek, Hilton Head, and Manhattan), and began construction of a private world-class golf course. In addition, Adelphia financed, with $3 million, the production of Ellen Rigas’s (John Rigas’s daughter) movie Song Catcher. John Rigas was honored for his large charitable contributions. But these contributions also likely came from company proceeds. In the end, the family had racked up approximately $2.3 billion in fraudulent off-balance-sheet loans. The company manipulated its financial statements to conceal the amount of debt it was accumulating. False transactions and phony companies were created to inflate Adelphia’s earnings and to hide its debt. When the family fraud was eventually caught, it resulted in an SEC investigation, a Chapter 11 bankruptcy filing, and multiple indictments and heavy sentences. The perpetrators (namely, John Rigas and his sons) were charged with the following counts: Violation of the RICO Act Breach of fiduciary duties Waste of corporate assets Abuse of control Breach of contract Unjust enrichment Fraudulent conveyance Conversion of corporate assets Until he was convicted of serious fraud, everybody loved John Rigas. He was trusted and respected in the small town of Coudersport and famous for his charitable contributions and ability to make friends. He had become a role model for others to follow. With a movie theater and a $300 cable tower, he had built one of the biggest empires in the history of cable television. From small beginnings, he became a multimillion-dollar family man who stressed good American values. But his goodness only masked the real John Rigas, and in the end, it was his greed and deceit that ultimately cost him and his family everything.

Questions

4.) Based on the facts of the case, do you think this case has led to civil litigation, criminal prosecution, or both? Explain your answer. 5.) Suppose you were an expert witness in this case. What would be some of the facts to which you would pay special attention?

John Rigas (founder and CEO of Adelphia Communications Corporation) was an extraordinary
man. Throughout his professional career, he was honored for his entrepreneurial achievements
and his humanitarian service. Among other awards, he received three honorable doctorate
degrees from distinguished universities, was named Entrepreneur of the Year by Rensselaer
Polytechnic Institute (his college alma mater) and was inducted into the Cable Television Hall of
Fame by Broadcasting and Cable magazine. He worked hard to acquire wealth and status. But a
$2.3 billion financial fraud eventually cost Rigas everything.

Rigas and his company, Adelphia Communications, started out small. With $72,000 of borrowed
money, he began his business career in 1950 by purchasing a movie theater in Coudersport,
Pennsylvania. Two years later, he overdrew his bank account to buy the town cable franchise
with $300 of his own money. Through risky debt-financing, Rigas continued to acquire assets
until, in 1972, he and his brother created Adelphia Communications Corporation. The company
grew quickly, eventually becoming the sixth largest cable company in the world with over 5.6
million subscribers.

From its inception, Adelphia had always been a family business, owned and operated by the
Rigas clan. During the 1990s, the company was run by John Rigas, his three sons, and his son-in-
law. Altogether, members of the Rigas family occupied a majority five of the nine seats on
Adelphia’s board of directors and held the following positions:
John Rigas, CEO and chairman of the board (father); Tim Rigas, CFO and board member (son);
Michael Rigas, executive vice president and board member (son); James Rigas, executive vice
president and board member (son); Peter Venetis, board member (son-in-law).
This family dominance in the company was maintained through stock voting manipulation. The
company issued two types of stock: Class A stock, which held one vote each, and Class B stock,
which held 10 votes each. When shares of stock were issued, however, the Rigas family kept all
Class B shares to themselves, giving them a majority ruling when company voting occurred.
With a majority presence on the board of directors and an effectual influence among voting
shareholders, the Rigas family was able to control virtually every financial decision made by the
company. However, exclusive power led to corruption and fraud. The family established a cash
management system, an enormous account of commingled revenues from Adelphia, other Rigas
entities, and loan proceeds. Although funds from this account were used throughout all the
separate entities, none of their financial statements were ever consolidated.

The family members began to dip into the cash management account, using these funds to
finance their extravagant lifestyle and to hide their crimes. The company paid $4 million to buy
personal shares of Adelphia stock for the family. It paid for Tim Rigas’s $700,000 membership at
the Golf Club at Briar’s Creek in South Carolina. With company funds, the family bought three
private jets, maintained several vacation homes (in Cancun, Beaver Creek, Hilton Head, and
Manhattan), and began construction of a private world-class golf course. In addition, Adelphia
financed, with $3 million, the production of Ellen Rigas’s (John Rigas’s daughter) movie Song
Catcher. John Rigas was honored for his large charitable contributions. But these contributions
also likely came from company proceeds.

In the end, the family had racked up approximately $2.3 billion in fraudulent off-balance-sheet
loans. The company manipulated its financial statements to conceal the amount of debt it was
accumulating. False transactions and phony companies were created to inflate Adelphia’s
earnings and to hide its debt. When the family fraud was eventually caught, it resulted in an SEC
investigation, a Chapter 11 bankruptcy filing, and multiple indictments and heavy sentences. The
perpetrators (namely, John Rigas and his sons) were charged with the following counts:

Violation of the RICO Act

Breach of fiduciary duties

Waste of corporate assets

Abuse of control

Breach of contract

Unjust enrichment

Fraudulent conveyance

Conversion of corporate assets

Until he was convicted of serious fraud, everybody loved John Rigas. He was trusted and respected in the small town of Coudersport and famous for his charitable contributions and abilityto make friends. He had become a role model for others to follow. With a movie theater and a $300 cable tower, he had built one of the biggest empires in the history of cable television. From small beginnings, he became a multimillion-dollar family man who stressed good American values. But his goodness only masked the real John Rigas, and in the end, it was his greed and deceit that ultimately cost him and his family everything.

Garnett Jackson, the founder, and CEO of Tech Tune-Ups, stared out the window as he finished his customary peanut butter and jelly sandwich, contemplating the dilemma currently facing his firm. Tech Tune-Ups is a start-up firm, offering a wide range of computer services to its clients, including online technical assistance, remote maintenance, and backup of client computers through the Internet, and virus prevention and recovery. The firm has been successful in the 2 years since it was founded; its reputation for fair pricing and good service is spreading, and Mr. Jackson believes the firm is in a good position to expand its customer base rapidly. But he is not sure that the firm has the financing in place to support that rapid growth. Tech Tune-Ups’ main capital investments are its own powerful computers, and its major operating expense is salary for its consultants. To a reasonably good approximation, both of these factors grow in proportion to the number of clients the firm serves. Currently, the firm is a privately held corporation. Mr. Jackson and his partners, two classmates from his undergraduate days, have contributed $250,000 in equity capital, largely raised from their parents and other family members. The firm has a line of credit with a bank that allows it to borrow up to $400,000 at an interest rate of 8%. So far, the firm has used $200,000 of its credit line. If and when the firm reaches its borrowing limit, it will need to raise equity capital and will probably seek funding from a venture capital firm. The firm is growing rapidly, requiring continual investment in additional computers, and Mr. Jackson is concerned that it is approaching its borrowing limit faster than anticipated. Mr. Jackson thumbs through past financial statements and estimates that each of the firm’s computers, costing $10,000, can support revenues of $80,000 per year but that the salary and benefits paid to each consultant using one of the computers is $70,000. Sales revenue in 2014 was $1.2 million, and sales are expected to grow at a 20% annual rate in the next few years. The firm pays taxes at a rate of 35%. Its customers pay their bills with an average delay of 3 months, so accounts receivable at any time are usually around 25% of that year’s sales. Mr. Jackson and his co-owners receive minimal formal salary from the firm, instead taking 70% of profits as a “dividend,” which accounts for a substantial portion of their personal incomes. The remainder of the profits are reinvested in the firm. If reinvested profits are not sufficient to support new purchases of computers, the firm borrows the required additional funds using its line of credit with the bank. Mr. Jackson doesn’t think Tech Tune-Ups can raise venture funding until after 2016. He decides to develop a financial plan to determine whether the firm can sustain its growth plans using its line of credit and reinvested earnings until then. If not, he and his partners will have to consider scaling back their hoped-for rate of growth, negotiate with their bankers to increase the line of credit, or consider taking a smaller share of profits out of the firm until further financing can be arranged. Mr. Jackson wiped the last piece of jelly from the keyboard and settled down to work. Can you help Mr. Jackson develop a financial plan and Do you think his growth plan is feasible? financial statement (income statement & balance sheet)

Hi, my name is Peter Metcalf. I'm the CEO and lead founder of Black Diamond. Very early on in the beginning of the company, the sports of climbing, mountaineering [inaudible] skiing were relatively small at that time. They've grown dramatically. However, if you aggregated the global demand for that product, then you could have a fairly meaningful business. I recognize that to be competitive, to do what we really wanted to do, we had to think globally. It was going to be about finding these global markets through finding other people who shared our passion, who were young, embryonic businesspeople in many cases who wanted to get into the business because they shared that passion, they knew the markets, they knew the space, and could develop a business as a distributer for us. And as time went on, we did begin to recognize that nobody really cares about Black Diamond as much as Black Diamond people do. And for that reason, we would have to take charge ultimately of the businesses that we were, the business we were conducting overseas through independent distributers. And there was also a recognition that, to be the same brand in Europe or in Asia as we were in North America, we would have to be something slightly different because of cultural values, cultural interpretations.

>> My name is Thomas Hodel. I'm from Switzerland. Born in Lausen. Doing outdoor sports were, was always a big part of my life, so a big passion of me, and that's why I'm here working at Black Diamond sharing that passion. And I have two roles at the moment. On a global view, I'm responsible for all the ski categories, so together with team here, we define strategies and directions for all the categories which belong to the ski side. And then, in Europe, I'm the European category director, so the role there is to make sure whatever we do here works also in Europe and the European needs are covered. It takes a long time to really figure out the differences in Europe, and it's, every country has a different culture, mentality. Having that European perspective, I think that that's definitely asset I can bring into this company and help this company to become more global, to address those needs better.

>> My name is Wim de Jager. Actually pronounced as Wim de Jager, but that's difficult. So Wim de Jager. I go with Wim de Jager. I'm the VP of manufacturing here at Black Diamond. Our business is really global. Our customers are global. And our manufacturing is definitely global as well. So, yeah, we own our own factory in Zhuhai. Products that we assemble and produce in the factory in Zhuhai are also part of this protective products that we use that are being used in climbing and in mountaineering, so the quality needs to be good. But also, we want to ensure that's being done in a good way. So we control it from start to finish, which means how we treat the people, how we manufacture, and how we run the organization, that we ensure that everything is done in the right way.

>> But more importantly, we have a certification and compliance process. We have auditors that go into these factories. We have a very strict guideline of ethical sourcing requirements. So we check these factories. We're not at some sweatshop. Factories that we're in, like, I think an apparel factory we're in in Bangladesh, the people get three meals a day. There's health care. There's English language. There's money for additional education. It's well ventilated, well lit. It's clean. It's safe. Because that's very important to us and 
what our values are.

1. When CEO says their manufacturing operations aren’t sweatshops, Black Diamond is exhibiting

A. Uncertainty avoidance

B. Global perspective

C. Social responsibility

D. Globalization

2. Peter Metcalf founded Black Diamond which creates, produces, and sells outdoor equipment. This is an example of

A. Manufacturing Organization

B. Service Organization

C. A tiered workforce

D. Outsourcing

3. Assume you are the CEO of Black Diamond, a global organization. You realize that some of the people in your organization are more comfortable working in a strong hierarchy while others prefer to work more like colleagues with their managers than as leaders. You have a project that requires highly structured reporting relationships with a clear hierarchy because it is a joint venture project. You believe people from some cultures may not feel comfortable with such a strong hierarchical relationship. In this case, you might seek to put people on the project who are from a (BLANK) country.

A. High Assertiveness

B. High Collectivism

C. High Power Distance

D. High uncertainty avoidance

COUNTRY = FINLAND These answers may be harder to find, but do the best you can. Try to find an organization chart of Finlands executive branch agencies. Link or post or paste the chart for an overview of the bureaucracy. In Finland, to whom are civil servants (bureaucrats) accountable? In the U.S., the bureaucracy is the arm of government that implements and regulates policies decided on by elected officials. In theory, the administrative branch in the U.S. is professional (other than top leadership), not political. How does this work in Finland? In other words, are civil service appointments political or based on merit or a combination of both? How are civil servants trained? How are they promoted? How is success of the bureaucracy measured? In Finland, do citizens go to the bureaucracy for individual help or is the bureaucracy “neutral,” carrying out orders in a neutral manner? Do you think this reflects the type of government that you identified?

Use the five-step decision-making process discussed to analyze the following situations and recommend a course of action.
The case:
The daughter of the firm’s CEO is scheduled to participate in a job interview for an entry level position in the IT organization next week. You are a second-year employee in your firm’s IT organization who will participate in the interview process. You will be one of three people who will interview her to form an assessment and make a group decision about whether or not she will be offered the position. How do you handle this situation?
Notes:
The five-step is :
( Problem definition -Identify alternative -Choose alternative-Develop implementation-Evaluate the result)
I want your answer based on the five steps that I put for you in the notes, and for every step, I want an answer
answer by using your own words please ..
the name of course is "Professional Computing Issues"

Hi,

Working on a project in my group for class and I am having some issues

My part is current state of the business. It is a store and the annual sales are $460,000

Other info I have is:

Ownership and Compensation; Percent Ownership Personal Investment

Mitchell George, Founder & CEO 25% $125,000Katie Beauseigneur, COO 15% $75,000

Melissa Dunnells, CFO15% $75,000

Also, a medium coffee price from store is $3.75

Sarah Griffin, Marketing Officer 10% $50,000

Katharina Ferry, HR Director10% $50,000

Valerie Freeman, Board Memberand Angle Investor 10% , $125,000

Options pool 15%

Total 100%

Any info is helpful

2020 Election ~ Bernie Sanders is a popular presidential candidate among university students for the 2020 presidential election. Leading into Michigan’s presidential primary election in 2020, a journalist, Lauren took a random sample of 11,663 university students and found that 8,891 of them support Bernie Sanders.

Using this data, Lauren wants to estimate the actual proportion of university students who support Bernie Sanders.

What is the required sample size to calculate a 95% confidence interval within 3.05 percentage points? Use z*=1.96.z*=1.96.

n=p*(1−p*)(z*ME)2