General Motors Essay Example for Free

General Motors Essay General Motors Corp., commonly known as GM, is an iconic American corporation. It was the world’s largest automobile manufacturer from 1931 to 2008. GM was a winner in the automobile market until 2005, when it reported a net loss of more than $10 billion and continued to post annual losses since that time. During 2005 to 2007, the stock price slight increased until it disclosed its huge deferred tax assets. Since then GM’s stock price continued dropping and reached at a low of $1.45 per share on March 6, 2009. On March 4,2009, Deloitte Touche issued an unqualified opinion with a going-on concern paragraph on GM’s 2008 financial statements. GM received $13.4 billion in government loans in December 2008 and has requested another $16.6 billion. In April 2009, a restructuring plan was created to save GM. On June 1, 2009, GM filed for Chapter 11 bankruptcy. A new GM, known as General Motors Co., was created under the terms of bankruptcy plan. General Motors Co. began its operations on July 10,2009. In November 2010, GM went public with an initial public offering that raised $23.1 billion. This time, Deloitte did not make reference to going-on concern on GM’s 2010’s financial reporting. Discussion Questions 1. From Exhibit 1, we can see that since 2005, GM is suffering from losses and it had negative cash flows from operations except for 2007. In 2006, its total assets shrank nearly 60% from $476,078 million to $186,182 million. However, in my opinion, 2005 is not the sign of GM’s impending financial distress. It is in 2007 when it disclosed its huge deferred tax assets, which made the stock price dropped abruptly. And it is also in 2007 when the company’s net losses reached at $38,732 million. The huge deferred tax assets and constant huge losses make me consider that GM may encounter big financial distress in the following years. 2. Auditors should consider the following things in evaluating potential going-on concern uncertainties. (1) Consideration of conditions and events such as negative trends of operating losses, working capital deficiencies, negative cash flows, adverse key financial ratios. (2) Consideration of management’s plan such as plans to dispose assets, plans to borrow money or restructure debt, plans to reduce or delay expenditures and plans to increase ownership equity. (3) Consideration of financial statement effects; whether they are adequate and what are the possible effects. (4) Consideration of the effects on the auditor’s reports. 3. In my opinion, the going-concern uncertainty is not warranted. No one could predict what will happen in the future. Auditors do not have the responsibility to predict future events. Therefore, the going-concern uncertainty is just a substantial doubt based on historical data and past events, some reasonable estimates and management’s plans. From the exhibit 1, we can find that GM suffered losses since 2005. However, I do not think it necessary to issue an audit opinion modified to disclose going-concern opinion prior to 2007 when its losses reached at $38,732 million. A going-concern opinion should be issue when substantial doubt exists. Although it suffered losses since 2005, there was no sign that management would file the chapter 11 bankruptcy protection and it was likely that the US government would provide financial support for the GM. So it is not adequate to add the going-concern paragraph in my point of view. 4. The Great Recession which began in December 2007 and lasted to September 2008 might have accelerated Deloitte’s decision to issue an audit opinion modified to disclose going-concern uncertainties. The financial crisis resulted in collapse of large financial institutions, the bailout of banks by national governments, downturns in stock markets around the world, etc. The financial crisis made GM’s problems more difficult because it could not pay its debt and it became harder for it to refinance. Therefore, at this point, the going-concern uncertainty for GM was substantially increased, which led to an audit opinion with modified going-concern paragraph. 5. The Car Allowance Rebate Program released on July 1, 2009 did help the new GM. The program provided incentives for the automobile industry with more than 690,000 transactions rebated under this program. Although GM’s sale were down 17% from 2008, it got rid of 70% debt, abandoned 4 unprofitable brands and 13 manufacturing plants, cut off 22,500 employees and 2,300 dealers. These measures helped the new GM cut down its costs and got through its tough time. And there was no sign that any going-on concern uncertainty existed. What auditors should consider about the going-concern is pretty much the same as in question 2. 6. GM’s going-concern opinion would somewhat influence my decisions regarding purchasing a car from GM or investing in GM’s stock. And this may be part of the reason why GM’ stock dropped after 2008. In my point of view, going-concern is a self-fulfilling prophecy. However, it is not the going-concern opinion caused the company to file a bankruptcy protection. The company’s problem such as inefficient benefit plan had been existed there for a long time without solving. The going-concern opinion just revealed the problem and accelerated its demise. And this eventually made the self-fulfilling prophecy come true.

Adolf Hitler :: essays research papers

Adolf Hitler was a German political and government leader. And he is one of the 20th century’s most powerful dictators, when he ruled Germany from 1933 to 1945.He turned Germany into a powerful war machine and provoked World War II in 1939,when he invaded Poland. He built the Nazi party into a mass movement. For sometime he dominated most of Europe and North Africa. He caused the slaughter of millions of Jews and others whom he considered inferior. Adolf Hitler was born on April 20,1889 in Branau am Inn, Austria. Adolf’s father, Alois Hitler was a minor customs official. He died in 1903.Adolf’s mother, Klara Hitler was a peasant girl. She died in 1907.Hitler did not do well in school and he dropped out of high school. He was eager to become an artist, so he applied to the Academy of Fine Arts in Vienna in 1907 and 1908 but he was rejected both times. During his spare time he read alot, developing anti-Jewish and antidemocratic views. When World War I started Hitler was rejected by the Austrian Army, but accepted by the German Army. He served as a messenger on the Western Front for most of the war, taking part in some of the bloodiest battles. He was wounded and received the Iron Cross for bravery. But he was never promoted higher than lance corporal. But after the war he found himself unable to find a job. After Germany’s defeat in 1918 he returned to Munich, remaining in the army until 1920.In September 1919 he joined the nationalist German Workers’ Party. In April 1920 he went to work full time for the party, now renamed the National Socialist German Workers’ Party or the Nazi party. In 1921 he was elected party chairman with dictatorial powers. He now became known as Der Fuhrer. The Nazis aim was to organize all Germans into one nation. And to rid the Jews of German citizenship and eliminate them completely. He organized meetings with his personal bodyguard force, the Storm Troopers. In November 1923,at a time of political and economic chaos, he led an uprising or Putsch in Munich against the postwar Weimar Republic, the German government. This was known as the Beer Hall Putsch. However the Putsch collapsed. Hitler was arrested and sentenced to five years in prison. He only spent nine months in prison. During this time he spent writing his autobiography, Mein Kampf which means My Struggle. In it was a plan to conquer Europe and much of the world. The failure of the Beer Hall Putsch taught Hitler that the Nazi Party must use legal means to assume power. Adolf Hitler :: essays research papers Adolf Hitler was a German political and government leader. And he is one of the 20th century’s most powerful dictators, when he ruled Germany from 1933 to 1945.He turned Germany into a powerful war machine and provoked World War II in 1939,when he invaded Poland. He built the Nazi party into a mass movement. For sometime he dominated most of Europe and North Africa. He caused the slaughter of millions of Jews and others whom he considered inferior. Adolf Hitler was born on April 20,1889 in Branau am Inn, Austria. Adolf’s father, Alois Hitler was a minor customs official. He died in 1903.Adolf’s mother, Klara Hitler was a peasant girl. She died in 1907.Hitler did not do well in school and he dropped out of high school. He was eager to become an artist, so he applied to the Academy of Fine Arts in Vienna in 1907 and 1908 but he was rejected both times. During his spare time he read alot, developing anti-Jewish and antidemocratic views. When World War I started Hitler was rejected by the Austrian Army, but accepted by the German Army. He served as a messenger on the Western Front for most of the war, taking part in some of the bloodiest battles. He was wounded and received the Iron Cross for bravery. But he was never promoted higher than lance corporal. But after the war he found himself unable to find a job. After Germany’s defeat in 1918 he returned to Munich, remaining in the army until 1920.In September 1919 he joined the nationalist German Workers’ Party. In April 1920 he went to work full time for the party, now renamed the National Socialist German Workers’ Party or the Nazi party. In 1921 he was elected party chairman with dictatorial powers. He now became known as Der Fuhrer. The Nazis aim was to organize all Germans into one nation. And to rid the Jews of German citizenship and eliminate them completely. He organized meetings with his personal bodyguard force, the Storm Troopers. In November 1923,at a time of political and economic chaos, he led an uprising or Putsch in Munich against the postwar Weimar Republic, the German government. This was known as the Beer Hall Putsch. However the Putsch collapsed. Hitler was arrested and sentenced to five years in prison. He only spent nine months in prison. During this time he spent writing his autobiography, Mein Kampf which means My Struggle. In it was a plan to conquer Europe and much of the world. The failure of the Beer Hall Putsch taught Hitler that the Nazi Party must use legal means to assume power.

Global Trends

Global Trends MGT 460: Leadership Priorities & Practice Instructor William Conaway February 17, 2011 Global Trends Education is arguably one of the biggest industries in the world. People pay to learn and if we are honest, people learn to get paid. Individuals stress to their children the importance of doing well in school. Why? The world has put a prerequisite on success, and it is education. Since we know that education is vital and we understand that the twenty-first century has brought with it a global community; it follows that the Education industry in America, especially public school, must change if this millennial generation is to be successful in the future and as a future public school worker I must be marketable for those changes. General Environment Children are different today then they were 10 years ago. Between the internet, video games, and movies it takes a lot more to hold their attention which means it takes a different type of teacher to get them to learn. Baby boomers who make up the largest population of the experienced teaching community will be retiring over the next 3-5 years. Although these teachers have years of experience this particular generation is very different from anything they have ever faced. Consequently, the students have been turned off by their traditional approach. . Lee Goeke the former head of Human Resources for Vancouver Public â€Å"studied what he calls the millennial generation — those who graduated from high school in 2000 or later. He determined they weren't obsessed with money like Baby Boomers or Generation Xers. Out of all the generations we've had, this is the perfect generation for teaching,† Goeke said. â€Å"The millennial generation is more interested in vision and philosophy. (McLatchey, 2008). Task Environment We live in a global community. The internet and other advanced technologies have brought the world together in an unusual way; resulting in Americans not just competing among ourselves, but with people all over the world. This has always been the case in some industries since the establishment of America, but never to the degree in which we see it today. Consequently, public education is becoming an industry of great importance. Parents are demanding more of the curriculum. Society as a whole recognizes the need for quality public school education if we are to continue to compete with companies around the world in the future whose educational systems will or have surpassed ours. Pulling it all Together In the next three years due to the shrinking size of the world and the competition for jobs in our global community education in America will become more world based, focusing on the total growth of the developing child, touching hearts as well as minds and encompassing social, physical, emotional and cultural needs in addition to academic development (http://www. bo. org/pyp/). Having a degree in both organizational management which prepares me for the global business market and psychology which helps me understand social, emotional, and cultural needs will make me not only extremely marketable in the years to come, but an effective member of the education community. References http://www. ibo. org/pyp/ Rafte ry, I (2 March). With teacher turnover high, Vancouver schools shift recruiting effort to attract idealists. McClatchy – Tribune Business News. Retrieved March 31, 2008, from ABI/INFORM Complete database. (Document ID: 1437867971).

Fast Food Companies Target Children - 1899 Words

Many Fast food companies target children because they are young and are good at persuading their parents to get what they want. â€Å"It’s not just getting kids to whine† (Schlosser 43). Fast food companies target kids based on what they are looking for which is money. â€Å"The decade of the child consumer† (Schlosser 43). Americans need to pay close attention to how their children spend their money. As more kids visit fast food restaurants, companies will come out with more items for kids to purchase as time goes along. More companies in America will keep targeting kids because they see an advantage in it that the reader does not see. â€Å"We see this as a great opportunity† (Scholosser 48). In the meantime, an employee at a fast food restaurant will sell fast food items to kids because they want their money in order to increase the business. 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