Good Girl Gone Bad and Date Chris Brown Essay Example for Free

Good Girl Gone Bad and Date Chris Brown Essay Rihanna used to be one of my favourite singers back in the days. She started to change not only her image, but her music. I did some research and looked up what made her change this much. Her songs used to be what made her change this much. Her songs used to be much more sex-free. My research shows that Rihanna could have had experiences, or just wanted a change in her. I asked myself, How has Rihanna changed throughout her career?, and I could come up with many assumptions, but I want to make sure my assumptions are correct. I want to talk about her relationship with Chris Brown, her album A Girl Like Me and her album Good Girl Gone Bad. Rihanna started to date Chris Brown, an American entertainer. On February 8, 2009, Rihanna and her boyfriend Chris Brown had an argument that twisted into physical abuse. Rihanna was injured severely with facial injuries. Chris Brown turned himself in to the Los Angeles Police Department in Wilshire. On March 5, 2009, Chris Brown was charged with felony assault and because of making criminal threats. On June 22, 2009, he pleaded guilty and accepted to do community labor, five years probation and domestic violence counselling. He released a video online to apologize for what he had caused and is deeply saddened by it. He repeatedly apologized to Rihanna and accepts full responsibility for his actions. Right after this commotion, Rihanna had her fourth album, Rated R, which was released in November 2009 and was expressed as a very dark and mature impression due to earlier events. Her debut single, Russian Roulette, was a success. It is a mid-tempo pop song that contains famous RB ballad characteristics. According to the lyrics, the song is about a violent romantic relationship that ended unexpectedly. That song received positive reviews about her vocal performance and the song lyrics. Her third global single, Rude Boy, was released and recognized as the biggest worldwide success from the whole album. The song is about a girl who is getting attention from the guys, and they want her. They are probably just teasing her and cat-calling her, but Rihanna is much more like show me what you got. Its about a womans sexual freedom. Rihannas second album, A Girl Like Me, which was released in April 2006. It sold 115,000 copies in its first week and was certified Platinum. It alternates between the sunny dancehall/pop, hip-hop, club, adult music. The songs in this album were hardly about getting back at a guy or having an intercourse. Her songs were simply songs just to dance to, about someone losing her trust, love and compassion. Her lead single in that album, SOS, was number one on the Billboard Hot 100. It was her first single to top the charts of United States. Her second single, Unfaithful, was a major worldwide hit. Songs like these were what everyone used to listen to, and not only people who have had an abusive relationship, or had their heart broken. Rihannas third studio album Good Girl Gone Bad was released in 2007. She wanted to start in a fresh track with the help of some music producers. She changed her image then to a more rebellious image. She dyed her hair black and cut it short. We figured Good Girl Gone Bad was the perfect title because it showed people Im my own person now. Not doing what anyone wants me to do. Im not the innocent Rihanna anymore. Im taking a lot more risks and chances. I felt when I cut my hair, it shows people I\m not trying to look or be anybody else, Rihanna tells MTV News. During an interview on UK radio station, Capital FM, Rihanna explained the meaning and reasoning behind the album title: Bad is not sleazy. Bad has its own term to every individual and in my case it just means Ive gotten a little rebellious on the album, broken out of my shell and Im taking risks Michael Jackson Bad kind of way.

Collegiate Athletes Have A Different College Experience Essay -- Athle

Collegiate Athletes Have A Different College Experience Everyone has his or her own ideas of what the ‘college experience’ should include and be like. Some thoughts on the subject include going out a lot, meeting lots of new people, and dating many different people. Other people consider it the education, and finding someone to settle down with. â€Å"The college experience means your academic and social experiences you have during your time in college. They are the friends you meet, and hang out with. The classmates you meet and work with, and also the professors you deal with in your years at school,† said Tyler Grogan, a senior football player. Are athletes in college getting the same experience as the non-athlete students, or do practices and other sport related events take up too much time? Do all of the practices, games, weight lifting, and time spent in the training room interfere with their learning, or more with their social life? For the majority of the varsity athletes at Northeastern, their commitment to their team leaves little time to be involved in much else. The transition from high school to college can be a difficult one. Young people must deal with making new friends, learning how to manage time and their newfound freedom, and getting used to being away from home. In coming to college there is more responsibility put on oneself. Students no longer have teachers taking attendance every day, and reminding them about all of their assignments. If the student does not go to class in high school, their parents are notified; in college there are no checkups. If students choose to not go to class, then they usually end up failing. Because of the involvement with athletics, is it easier for athletes coming in to c... ...et by, and to get a degree, and not worry about their GPA. For most female athletes the chance to play their sport professionally is very slim, so they tend to put more stock into their class work and school. The two teams with the highest GPA here at Northeastern University are the women’s volleyball team and the women’s hockey team. The five-year program here at Northeastern offers the student-athlete to simply be a student for a year. Tyler Grogan found that once his eligibility for football was over, he had a lot more time. With his extra time he has been able to meet a few more people, and has more time to spend with them because he no longer has football to take up the majority of his time. In general student-athletes just have less time to spend doing anything besides their sport. The college experience is different for them, but not necessarily better. Collegiate Athletes Have A Different College Experience Essay -- Athle Collegiate Athletes Have A Different College Experience Everyone has his or her own ideas of what the ‘college experience’ should include and be like. Some thoughts on the subject include going out a lot, meeting lots of new people, and dating many different people. Other people consider it the education, and finding someone to settle down with. â€Å"The college experience means your academic and social experiences you have during your time in college. They are the friends you meet, and hang out with. The classmates you meet and work with, and also the professors you deal with in your years at school,† said Tyler Grogan, a senior football player. Are athletes in college getting the same experience as the non-athlete students, or do practices and other sport related events take up too much time? Do all of the practices, games, weight lifting, and time spent in the training room interfere with their learning, or more with their social life? For the majority of the varsity athletes at Northeastern, their commitment to their team leaves little time to be involved in much else. The transition from high school to college can be a difficult one. Young people must deal with making new friends, learning how to manage time and their newfound freedom, and getting used to being away from home. In coming to college there is more responsibility put on oneself. Students no longer have teachers taking attendance every day, and reminding them about all of their assignments. If the student does not go to class in high school, their parents are notified; in college there are no checkups. If students choose to not go to class, then they usually end up failing. Because of the involvement with athletics, is it easier for athletes coming in to c... ...et by, and to get a degree, and not worry about their GPA. For most female athletes the chance to play their sport professionally is very slim, so they tend to put more stock into their class work and school. The two teams with the highest GPA here at Northeastern University are the women’s volleyball team and the women’s hockey team. The five-year program here at Northeastern offers the student-athlete to simply be a student for a year. Tyler Grogan found that once his eligibility for football was over, he had a lot more time. With his extra time he has been able to meet a few more people, and has more time to spend with them because he no longer has football to take up the majority of his time. In general student-athletes just have less time to spend doing anything besides their sport. The college experience is different for them, but not necessarily better.

Judas at the Jockey Club

As an American in the late 1800's, owning a farm was not too uncommon, especially if that farm was located in Mexico. At this time, though, Mexico was in the Porfirian Era (1876-1911). In this certain era, Mexico was being encountered by two very different cultures at the same time: the industrial, and the traditional. These distinctively separate cultures impacting Mexico made it as what can be described as â€Å"backwards† in a sense, as Mexico was practically regressing as the world around it was moving on to bigger and better things.Mexico was so behind that â€Å"many had concluded that Mexico had yet to advance beyond chipped rocks as utensils. † (p. 67). Mexico at this time had locked itself in a stagnancy of its own traditions. The people were simply too anxious towards newer technology to move ahead and replace what they had known for so long. In Mexico at this time, stones were used for nearly every operation executed by the natives. Women that would hand-grin d the meal for tortillas still used a stone roller and slab for the job.They would then take the tortillas and place them upon a hot rock, as stoves were unheard-of at this time. The houses that they lived in also represented the backwardness of the era, as they seemed to replicate that of an Aztec or early Spanish hut with its flat top and adobe construction. In these houses, the Mexicans lacked all types of furniture, even a bed. For sleep, they used what were called petates, which were simple mats to sleep on. They also did not possess any means of heating or cooling, so all resources that they had were to be utilized in many ways.As far as the implementation of new technology goes, Mexico was very stubborn to say the least. As written in the book, â€Å"In near disbelief, a New York Times reporter wrote that Mexicans scarcely understood the use of the wheel. † (p. 72), so it is not entirely difficult to believe that Mexico was still in an ancient lifestyle. Because of thi s lack of transportation technology, many Mexicans at the time would use mules as well as men to transport freight across distances.This was a huge representation of the stunted technological growth that Porfirian Mexico possessed. Another great vision of Mexico's poorly adaptive society was the plow. This plow was described as being â€Å"a long tree branch, with a crook, sometimes faced with an iron, serving as the plowshare. † (p. 72). It also is told to be ox-powered, hooked up to its horns, making it unreliable and at most times inefficient. It was also awfully bad for the ox, as it made the creature push and strain on its neck muscles.On the ranches that did however import plows from the United States, one handle would be removed to replicate the traditional tool that was still used, rather than learning to use the newer and better improved one. Other Agricultural tools were not used in Mexico either, further representing the stubbornness Mexicans possessed toward chang e. Wheat was still harvested by a sickle, rather than a smooth blade. The wheat was not caught by a cradle either, virtually creating more work for the Mexicans overall. No tools were used to thresh the wheat either.Instead, â€Å"the grain was threshed by spreading it in a corral and allowing the animals to trample it for two or three days. † (p. 73). By the time the process was complete, dirt and animal filth was mixed in with the product, making it very much unsanitary. Not only were these Mexicans stubborn to adapting the new technologies, they were hostile as well. After one hacendado had learned that the thresher machine was much more effective and practical, the village priest had declared that it was â€Å"possessed by the devil and forbade the peons to work with it.† (p. 73); the American owner of this machine had to have it exported out of the area to prevent it from being destroyed. Despite the unholy declarations of priests, many villagers naturally opposed using the machines because they left the straw â€Å"whole†. On top of this resistibility to change, the farmers who grew such crops were ignorant to the fact of rotating and resting the fields. They just did not understand the scientific ways that were upon them.One of the next biggest appearances of the ignorance and stubborn acts of Mexican workers at this time was the views they held on the basic tools of the Yankees. As the new technologies of shovels and wheelbarrows were being brought into Mexico, they were being completely disregarded. When Mexicans needed to transfer or transport the earth, they would use what was called a horn scoop, and dump their collected dirt into a leather bag for transportation rather than throwing shovelfuls into a wheelbarrow.An example of wheelbarrow use is told as the following: â€Å"one laborer working on the church loaded his wheelbarrow with bricks, lifted it onto his head, and trudged over to the masons. After emptying it, he replac ed the wheelbarrow on his head and returned to the brick pile for another load. † (p. 74). All means of irrigation were done by transferring the water by means of a pot or bucket. Sometimes other ways were implemented as well, but nonetheless, these was were too known to be dated back to ancient times.The simplicity of it was so neanderthal in style that its told that these methods of irrigation were derived from those used on the Nile hundreds of years before, and not improved on since. Mining as well was un-influenced by the evolving technologies, as the mines hardly differed from what they had been over past years. The workers would dig into the hillside, and use long poles, generally 8-10 feet in length, to escape in and out of the mine. The tools the actual miners utilized was a steel-tipped iron rod, rather than the contemporary pick of the modern age.These drillers, or barrateros, were known as the elite society of the underground, also being paid much better than other s. As far as the ore-transferring process went, it was very dangerous, in the fact of ascending up these wooden poles to the surface. Its said that the workers would rest the bag filled with ore, usually around 150-200 pounds, on his back and begin the ascent. It's also said that the carrier would often have to hold the bag steady with one hand to prevent it from falling, climbing and retaining balance with the other.The process Mexicans used for processing the ore was also deemed very inefficient and mediocre, as â€Å"one engineer estimated that using these techniques Mexican miners took away about 60 percent of the metal contained in the raw ore. † (p. 76). Mexicans also sported yet another downfall, as they relied on rawhide as a crutch for and any all repairs. â€Å"Thongs yoked the plow to the ox, bound cargoes on the backs of mules, stitched together everything that could be laced, tied rails to fence posts, and held rafters in place.† (p. 76).That previous sent ence pretty much sums it up- the idea that â€Å"what a Mexican could not do with rawhide was not worth doing. † (p. 76). Mexicans had virtually eliminated the need for any sort of pins or nails in their society. However, though this rawhide-repairing technique was useful on many things, it would not be accepted let alone effective on machinery. Their means of repair through rawhide put them at a handicap had a repair been needed for any sort of machine, especially one made from cast iron.When a problem like this would emerge, the Mexicans would simply toss that machine aside and no longer worry about it. This furthermore reinforced the ignorance to technology that Mexicans sported. Mexico in this period of time was very much behind technologically. They did not induce change, nor did they embrace it if it was placed in front of them. They faced many disadvantages in the Porfirian Era because of this, but yet, they were not stagnant in their duties. The Mexicans, still using the ancient practices that have been long used by their ancestors, would get the job done.Their work ethic was definitely an admirable one, but the shame of it overall is to think that they could've gotten so much more done had they not been so single-minded toward new technologies. This obvious stubbornness sent them into the regression, or â€Å"backwardness† that they were known for at the time, strongly reinforced by the idea that â€Å"if it's not broken, don't fix it. † Eventually, though, Mexico at this time would be attacked by the Porfirian Liberals, who posted restrictions upon the church and seized lands in attempt to â€Å"modernize† the so very far-behind Mexicans.In response to the attacks, â€Å"these Mexicans under siege confronted modern life in the countryside and the city, and fought to preserve their customs†¦Ã¢â‚¬  (p. 88). Mexicans of this time were just not going to cave in to any foreign force, whether it be a change in technologie s, or a change in customs. They were very stubborn and strong-willed with their beliefs, regardless of who or what was threatening them. That clearly demonstrates why Mexico is not necessarily a place to implant new technologies, especially ones that attempt to improve on their own previous traditions.

Analysing the IPO valuation of Eaton - Free Essay Example

Sample details Pages: 5 Words: 1399 Downloads: 1 Date added: 2017/06/26 Category Uncategorized Essay Type Analytical essay Did you like this example? Eatons IPO valuation is determinant on a number of factors that will discussed in this report. Raising $175M in the current equity bull market is easier than a bear market, but many of Eatons firm specific risks have the potential to reduce the offering. The purpose of this report is to discuss the timing of the IPO and address firm specific challenges in valuation, apply three valuation methods to Eatons and finally to recommend a share price range. Timing Factors and IPO Risks Eatons premium brand is its strongest marketable factor. Timothy Eaton founded the firm in 1869 only two years after Canadas inception. Because of the firms longevity and premium locations, which are recognizable as Canadian historical icons, the firms brand will remain strong through the restructuring. However, the complication for investors is determining how Eatons can capitalize its brand into stronger sales revenue. There is concern that the company will not be able to make enough restructuring changes to overcome the issues which placed them in bankruptcy to begin with. Even though the plan is to reposition the company to become a high end department store targeting moderate-better consumers, there is no guarantee that the store will be able to obtain the projected sales or that consumers will buy in to the changes at Eatons. Conversely, the move to increase the depth and expertise of management and the board of directors should offset this uneasiness somewhat. Addition ally, the department store industry is facing tightened margins and increased competition. The specific challenge in valuing Eatons IPO is the difficulty in accurately projecting sales revenue. As an investor, uncertainty will discount the amount investors are willing to pay for the IPO. If Eatons were to accomplish a few years of stable revenue and earnings growth under the restructuring plan, this factor would be diminished and the stock would be sold at a premium. The timing of the IPO coincides with the bull market run on the TSX and TSX Department Store Index in 1997 between March and October. Generally, during bull markets, IPOs fare much better than during bear markets. However, there is also concern that if the IPO fails and the price drops, Eatons will be in a much more difficult position to raise additional capital. The success of the IPO depends on Eatons being able to convince investors that its restructuring plan will be able to convert its premium brand into increas ed revenue and margins. Don’t waste time! Our writers will create an original "Analysing the IPO valuation of Eaton" essay for you Create order Valuation Methods Due to the above considerations, it is beneficial to use a number of different valuation techniques to arrive at an appropriate equity valuation. Typically, a discounted cash flow model (DCF) is used, but the complication here is that a WACC is required to discount the cash flows in order to find the equity valuation. However, the value of equity is required to obtain the correct WACC. To overcome the circular reasoning, the adjusted present value (APV) method will be utilized which relies on the return on assets. The other rejected method is the enterprise value to revenue because the numbers it produced were unsubstantiated by any other method. Also, EV/Revenue is essentially a measure of the amount it would cost to buy a companys sales. Considering that some of the comparables are companies such as Bay, whose expected sales of $8 billion is many times the size of Eatons expected sales of $1.8 billion, it is likely that EV/Revenue would overstate Eatons value. Therefore, to compl ement the APV method the following multiples ratios will be used: price to earnings (P/E) and enterprise value to earnings before income tax, depreciation and amortization (EV/EBITDA). The forecasting period used for the APV is from 1999-2004 and includes a number of assumptions (Exhibit 1). First of all, the growth rate is assumed to continue at 8.0% for the next five years in accordance with the pro forma income statement, and then flatten out to Canadian GDP growth for the terminal value at 3.4%. The gross margin and SGA are the percentages of sales given in 1999 and are expected to remain constant. The figures for the net working capital and industry beta require a more detailed explanation. For NWC, the figures are obtained through an average of 1997-98 NWC as a percentage of sales. The 1998 balance sheet indicates a substantial increase over 1997, due to accounts payable being converted to notes payable. While it is unlikely that accounts payable would remain at such low le vels, suppliers are likely to be hesitant to extend credit to the firm after bankruptcy. The industry beta is an average of the Bay and Sears unlevered beta. The primary reason for using these two companies is that they fit the profile of what Eatons projects to be going forward, and are benchmarked against the TSX Composite rather than their American counterparts. As for debt, the level will remain constant as will depreciation and capital expenditure after the first two years of increased capital infusion. By using the CAPM, the firms return on asset is 11.10%. By using the value of debt expected after the IPO (Exhibit 2), the APV arrives at an equity valuation of $328M (Exhibit 3). Because of the tax loss carry forwards, Eatons is not expected to pay any taxes for the first six years which will reduce this asset significantly. Accordingly, interest tax shields are only applied to the terminal value and forecasted based on permanent debt. The ranges for stock prices are based o n a sensitivity analysis of the new equity value for old shareholders provided by the APV valuation (exhibit 4) divided by old shares outstanding. The highlight region gives an average share price of $15.50. Paramount to any comparables analysis is ensuring that the comparable companies used will provide an accurate picture of expected stock behavior. The following U.S. and Canadian firms are available for the comparison: The Bay, Sears, Dillards, Nordstroms, and Profitts. These companies best fit the profile of the type of business lines Eatons is pursuing upon restructuring. Because the P/E method is sensitive to capital structure, the comparables should be closely aligned to Eatons proposed structure which fits the following: The Bay, Sears and Dillards. The net income requires adjustment to normalize the figure (Exhibit 5). When tax loss carry forwards and income from discontinued operations are removed the net income figure is $18M. The equity value recommended is between $2 34M and $321M and based on a low estimate to average comparable because of the investor risks and timing issues aforementioned in this report. While the P/E ratio was constrained by capital structure, EV/EBITDA does not take this into consideration and it is appropriate to use the entire list of comparables mentioned above (Exhibit 6). The recommended equity value range based on this method is between $468M and $663M. Since Enterprise Value multiples can be sensitive to size, it is likely that the equity value might be overestimated since Eatons EBITDA is many times smaller than the comparables. This is between the average and the low estimate on the spectrum due to expected investor concerns over timing and the probability of a successful restructuring process. Recommendations It is our recommendation that the $175M required capital be raised offering 11,666,667 shares at $15/share. This is based on the recommended range the three valuation methods provide (Exhibit 7). Eatons proposed IPO price coincides with the low estimate of EV/EBITDA, slightly above average P/E ratio, and varies with APV calculation due to high degrees of change revealed in the sensitivity analysis. Investors will be drawn to the Eatons brand because of its historical significance, but be cautious due to timing and restructuring concerns. The book building process will further narrow down the price and offering based on supply and demand for Eatons equity. Exhibit 1 APV Assumptions Forecast Period 1999 2003 Revenue Growth 8.0% Gross Margin 34% SGA (as % of sales) 30% NWC (as % of sales) 7.0% Terminal Growth Rate 3.4% CapEx (1999-2000) $75M + $100M CapEx (2001-) $31M Depreciation $31M Risk Free Rate 5.6% Market Risk Premium 7.0% Industry Beta 0.79 Exhibit 2 Debt Calculation Debt Calculations  Values (In Thousands) Debt 80,400 Operating Line 194,000 Total Debt as of 25 April, 1998 274,400 Proceeds from IPO used to pay down debt 91,000 Proceeds from sale of credit operations to Norwest 126,000 Total Post-IPO Net Debt 57,400 Additional Average Borrowing on Operating Line for 1998 95,000 Net Debt for 1998 152,400 Exhibit 3 APV Calculation Exhibit 4 APV Sensitivity Analysis Exhibit 5 P/E and Adjusted Net Income Exhibit 6 EV/EBITDA Exhibit 7 Valuing the Offering