Scenario:
With several coronavirus COVID-19 outbreaks on cruise ships around the world, such as Hong Kong, Japan, Egypt and USA, the confident level took a further hit as the US Department of State issued advice on 8 March for U.S. citizens to stay away from cruise ship. While the international cruise industry will be expecting a bitter winter in the coming months, the Hong Kong cruise industry is even on a complete halt. Cruise Line International Association suggested its member cruise lines to ban all passengers who are travelling from Hong Kong. All together these made Hong Kong’s still developing cruise industry suffers yet another blow.
Your tasks:
In view of these challenges, you are required to critically evaluate the current impact to the Hong Kong cruise industry, and suggest a revival plan once the bans are lifted. In your essay, you should include:
In: Operations Management
History
Describe American foreign policy through the end of World War I. In what ways might World War I be considered part of the US's imperial development in the early 20th century? How did WWI affect American foreign policy? Confine your answer between Reconstruction and the 1920s.
In: Economics
Asian cities except Japan, South Sahara African cities, and Latin American cities.
a. Find the cities which have more than 10% of nation's total population in above?
b. Find the unemployment rate in those cities?
In: Economics
CASE BRIEF 7.2 Tiffany and Company v. Andrew 2012 WL 5451259 (S.D.N.Y.) FACTS: Tiffany (plaintiffs) allege that Andrew and others (defendants) sold counterfeit Tiffany products through several websites hosted in the United States. Andrew accepted payment in U.S. dollars, used PayPal, Inc. to process customers' credit card transactions, then transferred the sales proceeds to accounts held by the Bank of China (“BOC”), Industrial and Commercial Bank of China (“ICBC”), and China Merchants Bank (“CMB”) (“Banks”). Andrew defaulted on the suit, and Tiffany sought discovery from the Banks by serving subpoenas seeking the identities of the holders of the accounts into which the proceeds of the counterfeit sales were transferred and the subsequent disposition of those proceeds. The Banks involved all maintained branch offices in the Southern District of New York, and the subpoenas were served on those branch offices. The Banks responded to the subpoenas by explaining that the information sought was all maintained in China and that the New York branches of the Banks lacked the ability to access the requested information. China's internal laws prohibited the disclosure of the information except under certain conditions. The Banks proposed that the plaintiffs pursue the requested discovery pursuant to the Hague Convention. The court concluded that Tiffany should pursue discovery through the Hague Convention. Tiffany submitted its Hague Convention application to China's Central Authority in November 2010, and on August 7, 2011, the Ministry of Justice of the People's Republic of China (“MOJ”) responded by producing some of the documents requested. For each of the Banks, the MOJ produced account opening documents (including the government identification card of the account holder), written confirmation of certain transfers into the accounts and a list of transfers out of the accounts. With respect to CMB, the records indicate that all funds in the account were withdrawn through cash transactions at either an ATM or through a teller. BOC and CMB each produced documents concerning a single account; ICBC produced documents for three accounts. In its cover letter, the MOJ noted that it was not producing all documents requested. Specifically, the letter stated, “Concerning your request for taking of evidence for the Tiffany case, the Chinese competent authority holds that some evidence required lacks direct and close connections with the litigation. As the Chinese government has declared at its accession to the Hague Evidence Convention that for the request issued for the purpose of the pre-trial discovery of documents only the request for obtaining discovery of the documents clearly enumerated in the Letters of Request and of direct and close connection with the subject matter of the litigation will be executed, the Chinese competent authority has partly executed the requests which it deems conform to the provisions of the Convention.” On the grounds that the MOJ's production is deficient, Tiffany moved to enforce the subpoenas previously served on the New York branches of the Banks. The deficiencies Tiffany claims are (1) whether any of the defendants have any additional accounts at the Banks; (2) detailed wire transfer records concerning the deposits into and withdrawals from the CMB and ICBC accounts. ISSUE: Could the court issue subpoenas in order to obtain more information about the bank accounts to help Tiffany identify the perpetrators of the counterfeit goods? DECISION: No, the court will not issue the subpoenas. The Banks, through the MOJ, have unquestionably produced relevant, responsive documents. Second, the scope of the Banks' production has not been so narrow that resort to the Convention can fairly be described as futile. The account holders' identities and addresses have been identified as well as transaction histories. Plaintiffs' argument that additional documents concerning transfers into and out of the accounts will lead to a fuller understanding of the trademark counterfeiting operation is extremely speculative. Finally, the fact that the MOJ China takes a narrower view concerning the appropriate scope of pretrial discovery does not render the Hague Convention process futile. The high cost of discovery in federal litigation is well known, and the fact that another sovereign chooses to take a more restrictive view of the appropriate scope of pretrial discovery is not unreasonable. In addition, as noted above, China is not unique in reserving its right to limit production in response to a Hague Convention request to documents that it considers to bear a direct and close connection with the litigation; many other countries have made the same reservation.
Questions: 1. What information was provided by the Chinese government?
2. What did Tiffany hope for?
3. Why will the court not issue subpoenas to the Chinese government?
In: Economics
In: Computer Science
The following selected transactions were completed by Capers Company during October of the current year:
Oct. | 1 | Purchased merchandise from UK Imports Co., $14,448, terms FOB destination, n/30. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3 | Purchased merchandise from Hoagie Co., $9,950, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $220 was added to the invoice. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4 | Purchased merchandise from Taco Co., $13,650, terms FOB destination, 2/10, n/30. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
6 | Issued debit memo to Taco Co. for $4,550 of merchandise returned from purchase on October 4. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
13 | Paid Hoagie Co. for invoice of October 3. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
14 | Paid Taco Co. for invoice of October 4, less debit memo of October 6. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
19 | Purchased merchandise from Veggie Co., $27,300, terms FOB shipping point, n/eom. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
19 | Paid freight of $400 on October 19 purchase from Veggie Co. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
20 | Purchased merchandise from Caesar Salad Co., $22,000, terms FOB destination, 1/10, n/30. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
30 | Paid Caesar Salad Co. for invoice of October 20. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
31 | Paid UK Imports Co. for invoice of October 1. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
31 | Paid Veggie Co. for invoice of October 19. Journalize the entries to record the transactions of Capers Company for October. Refer to the Chart of Accounts for exact wording of account titles. How does grading work? PAGE 10 JOURNAL ACCOUNTING EQUATION Score: 143/301
Points: 28.5 / 60 Feedback Check My WorkJournalize these transactions from the buyer's perspective. Discounts are taken on the amount owed to the seller, except for any freight costs. Oct. 1, 3, 4, 19 & 20: Using the perpetual inventory system, purchases of inventory on account are recorded by debiting the merchandise inventory account and crediting the accounts payable account. Under FOB shipping point, freight is paid by the buyer, while FOB destination freight is the seller's expense. Often freight must be prepaid for the carrier to deliver. Oct. 6: Any discounts or returns are recorded directly by the buyer who debits Accounts Payable and credits Merchandise Inventory, basically reversing what was done in recording the purchase. Oct. 13: Since the invoice is paid within the discount period, the cash paid on account is the difference between the invoice and the discount. Oct. 14: Returns are not eligible for discounts. Since the invoice is paid within the discount period, Accounts Payable is debited for the balance in the account. The cash paid on account is the difference between the invoice and the discount, less the returns. Oct. 19: Freight expense increases the cost of the merchandise. However, freight is typically prepaid in cash. Oct. 30: Since the invoice is paid within the discount period, the cash paid on account is the difference between the invoice and the discount. Oct. 31 (UK Imports & Veggie): Since no discounts are allowed, no discounts are recorded. The cash paid on account in each case is equal to the invoice. |
In: Accounting
For the Disney Company, provide a brief detail of the lawsuit. Because the Beef lawsuit is included in the footnote, what does this tell you about the company belief regarding the merit of the lawsuit?
14 Commitments and Contingencies
Commitments
The Company has various contractual commitments for broadcast rights for sports, feature films and other programming, totaling approximately $51.0 billion, including approximately $0.4 billion for available programming as of October 1, 2016, and approximately $48.7 billion related to sports programming rights, primarily college football (including bowl games and the College Football Playoff) and basketball, NBA, NFL, MLB, US Open Tennis, various soccer rights, the Wimbledon Championships and the Masters golf tournament.
The Company has entered into operating leases for various real estate and equipment needs, including retail outlets and distribution centers for consumer products, broadcast equipment and office space for general and administrative purposes. Rental expense for operating leases during fiscal years 2016, 2015 and 2014, including common-area maintenance and contingent rentals, was $847 million, $859 million and $883 million, respectively.
The Company also has contractual commitments for two new cruise ships, creative talent and employment agreements and unrecognized tax benefits. Creative talent and employment agreements include obligations to actors, producers, sports, television and radio personalities and executives.
Contractual commitments for broadcast programming rights, future minimum lease payments under non-cancelable operating leases, cruise ships, creative talent and other commitments totaled $60.8 billion at October 1, 2016, payable as follows:
Broadcast Programming |
Operating Leases |
Other |
Total |
||||||||||||
2017 |
$ |
6,119 |
$ |
477 |
$ |
1,880 |
$ |
8,476 |
|||||||
2018 |
6,015 |
376 |
1,006 |
7,397 |
|||||||||||
2019 |
6,221 |
329 |
502 |
7,052 |
|||||||||||
2020 |
6,416 |
278 |
486 |
7,180 |
|||||||||||
2021 |
6,314 |
227 |
206 |
6,747 |
|||||||||||
Thereafter |
19,925 |
1,419 |
2,567 |
23,911 |
|||||||||||
$ |
51,010 |
$ |
3,106 |
$ |
6,647 |
$ |
60,763 |
Certain contractual commitments, principally broadcast programming rights and operating leases, have payments that are variable based primarily on revenues and are not included in the table above.
The Company has non-cancelable capital leases, primarily for land and broadcast equipment, which had gross carrying values of $464 million and $469 million at October 1, 2016 and October 3, 2015, respectively. Accumulated amortization related to these capital leases totaled $216 million and $196 million at October 1, 2016 and October 3, 2015, respectively. Future payments under these leases as of October 1, 2016 are as follows:
2017 |
$ |
35 |
|
2018 |
24 |
||
2019 |
17 |
||
2020 |
15 |
||
2021 |
15 |
||
Thereafter |
495 |
||
Total minimum obligations |
601 |
||
Less amount representing interest |
(407 |
) |
|
Present value of net minimum obligations |
194 |
||
Less current portion |
(20 |
) |
|
Long-term portion |
$ |
174 |
Contractual Guarantees
The Company has guaranteed bond issuances by the Anaheim Public Authority that were used by the City of Anaheim to finance construction of infrastructure and a public parking facility adjacent to the Disneyland Resort. Revenues from sales, occupancy and property taxes from the Disneyland Resort and non-Disney hotels are used by the City of Anaheim to repay the bonds. In the event of a debt service shortfall, the Company will be responsible to fund the shortfall. As of October 1, 2016, the remaining debt service obligation guaranteed by the Company was $316 million, of which $51 million was principal. To the extent that tax revenues exceed the debt service payments in subsequent periods, the Company would be reimbursed for any previously funded shortfalls. To date, tax revenues have exceeded the debt service payments for the Anaheim bonds.
Legal Matters
Beef Products, Inc. v. American Broadcasting Companies, Inc. On September 13, 2012, plaintiffs filed an action in South Dakota state court against certain subsidiaries and employees of the Company and others, asserting claims for defamation arising from alleged false statements and implications, statutory and common law product disparagement, and tortious interference with existing and prospective business relationships. The claims arise out of ABC News reports published in March and April 2012 about a product, Lean Finely Textured Beef, that was included in ground beef and hamburger meat. Plaintiffs’ complaint sought actual and consequential damages in excess of $400 million (which in March 2016 they asserted could be as much as $1.9 billion), statutory damages (including treble damages) pursuant to South Dakota’s Agricultural Food Products Disparagement Act, and punitive damages. Trial is set for June 2017. At this time, the Company is not able to predict the ultimate outcome of this matter, nor can it estimate the range of possible loss.
The Company, together with, in some instances, certain of its directors and officers, is a defendant or codefendant in various other legal actions involving copyright, breach of contract and various other claims incident to the conduct of its businesses.
Management does not believe that the Company has incurred a probable material loss by reason of any of the above actions.
Long-Term Receivables and the Allowance for Credit Losses
The Company has accounts receivable with original maturities greater than one year related to the sale of television program rights and vacation ownership units. Allowances for credit losses are established against these receivables as necessary.
The Company estimates the allowance for credit losses related to receivables from the sale of television programs based upon a number of factors, including historical experience and the financial condition of individual companies with which we do business. The balance of television program sales receivables recorded in other non-current assets, net of an immaterial allowance for credit losses, was $0.9 billion as of October 1, 2016. Fiscal 2016 activity related to the allowance for credit losses was not material.
The Company estimates the allowance for credit losses related to receivables from sales of its vacation ownership units based primarily on historical collection experience. Estimates of uncollectible amounts also consider the economic environment and the age of receivables. The balance of mortgage receivables recorded in other non-current assets, net of a related allowance for credit losses of approximately 4%, was $0.7 billion as of October 1, 2016. Fiscal 2016 activity related to the allowance for credit losses was not material.
In: Accounting
Sturdy little donkeys are used to carry corpulent
tourists up the Santorini caldera to the town of Fira. One cruise
line that routinely docks at the port is considering a plan to
maintain their own donkey herd, which will cost them $15,000 per
thousand tourists. The number of tourists needing this service is
normally distributed, with a mean of 10,000. Usually, this is
enough donkey capacity, but occasionally the cruise line rotates a
bigger ship through this route and the excursion director must
purchase donkey capacity on the spot market, where it costs $20 per
tourist.
I. How many donkeys should the cruise line have in its
herd?
II. Once a local donkey herder learns of the cruise
line's plan, he raises his donkey rental price to $25 per tourist.
How many donkeys should be in the cruise line's herd?
III. Once a local donkey herder learns of the cruise
line's plan, he lowers his donkey rental price to $17.50 per
tourist. How many donkeys should be in the cruise line's
herd?
IV. The cruise line's insurance policy limits the
number of donkeys in their herd to 5,000. What bulk price should
the cruise line negotiate to make the 5,000 donkey herd size
optimal?
In: Operations Management
Quinine is a natural product extracted from the bark of the cinchona tree, which is native to South America. Quinine is used as an antimalarial agent. When 3.10 g of quinine is dissolved in 25.0 g of cyclohexane, the freezing point of the solution is lowered by 7.95 °C. The freezing point and Kf constant for cyclohexane can be found here. Calculate the molar mass of quinine.
https://sites.google.com/site/chempendix/colligative
In: Chemistry
In June 1995 Clyde Prestowitz (Trading Places) of the Economic Strategy Institute made the following statement to a Senate subcommittee: “Trade deficits of the size America is presently running with Japan and the rest of the world matter decisively to American prosperity. By limiting the exports of highly competitive American companies, the foreign barriers in large measure responsible for these deficits hold down investment in the export industry.” Use the long run model of a small open economy. Comment on what you find accurate and inaccurate about this statement.
In: Economics