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Tuesday, September 15, 2009
Tuesday, April 7, 2009
Summary Blog
http://news.yahoo.com/s/ap/20090408/ap_on_bi_ge/earns_alcoa;_ylt=Apmia148YBDx.RwBIH535hmyBhIF
Summary:
This article talks about how this aluminum maker company has suffered its second straight quarterly loss. They reported a loss of $497 million as the economy continues to downfall. Alcoa Inc. is the world's third largest aluminum maker expects that the demand for aluminum will continue to fall for the coming week. They stated that their revenue dropped 44%, from $7.38 billion to $4.15 billion from the past year. They plan to sell stocks and stocks to help cut down the costs by more than $2.8 billion yearly. Analysts have suggested that the demand of aluminum will not be rising anytime soon.
Connection:
This article links to chapter 15, comparing financial data. It also links into the simple concept of supply and demand we had learnt in J.A. The article stated that the company had lost 44% in revenue since last year, which can be calculated by ($4,150,000,000/ $7,380,000,000 x 100%). To try to regain that lost on revenue, Alcoa will be trying to cut down on their expense and cost of goods sold. At the same time, they would try to get more people to invest into their business. But with the current downfall of the economy, not many people would like to invest into a company that is struggling and holds a great inventory of inexpensive aluminum.
Reflection:
I think that the main problem Alcoa is facing is that, the order for aluminum, used to make cars and airplanes, has been dropping ever since last fall when the recession began. I think that investors would not want to invest into this company, because they would know that aluminum is not very valuable right now. The demands have greatly dropped, but the supplies keep piling up. They should try to cut down on production until they get rid of their inventories.
Summary:
This article talks about how this aluminum maker company has suffered its second straight quarterly loss. They reported a loss of $497 million as the economy continues to downfall. Alcoa Inc. is the world's third largest aluminum maker expects that the demand for aluminum will continue to fall for the coming week. They stated that their revenue dropped 44%, from $7.38 billion to $4.15 billion from the past year. They plan to sell stocks and stocks to help cut down the costs by more than $2.8 billion yearly. Analysts have suggested that the demand of aluminum will not be rising anytime soon.
Connection:
This article links to chapter 15, comparing financial data. It also links into the simple concept of supply and demand we had learnt in J.A. The article stated that the company had lost 44% in revenue since last year, which can be calculated by ($4,150,000,000/ $7,380,000,000 x 100%). To try to regain that lost on revenue, Alcoa will be trying to cut down on their expense and cost of goods sold. At the same time, they would try to get more people to invest into their business. But with the current downfall of the economy, not many people would like to invest into a company that is struggling and holds a great inventory of inexpensive aluminum.
Reflection:
I think that the main problem Alcoa is facing is that, the order for aluminum, used to make cars and airplanes, has been dropping ever since last fall when the recession began. I think that investors would not want to invest into this company, because they would know that aluminum is not very valuable right now. The demands have greatly dropped, but the supplies keep piling up. They should try to cut down on production until they get rid of their inventories.
Thursday, March 12, 2009
Chapter 16 Blog
http://www.canada.com/Technology/software+battle+looms+Block+enters/1206095/story.html
Summary:
This article talks about how Canada's QuickTax has encountered a competitor, H&R Block Canada Inc. H&R Block had been focusing on retail tax, preparing two million tax return a year in 1200 retail outlets. H&R also offered an online version of the taxing software, and it allows people do to their taxing filing themselves. Between 2007-2008 Do-It-Yourself fillings went up 5%, while electronic filing was up 9%, and old style filing has gone down 3%. The software can prepare up to 16 tax returns. It also allows the user the users, who thinks their tax return is more complicated than expected can get help from the H&R Block office, where a specialist can help you check over your tax return for $39.95.
Connection:
The connection between this article and the chapter is the tax return/deductions. Employees are hired with the understanding that they will be paid a certain amount per hour, week or year. However, they get deductions off their payrolls before the employee actually gets paid. These deductions are taxes. Income tax is a tax that you deduct based on, the employee's contributions to a registered pension fund or plan, union dues, deduction for living in a prescribed area, and deductions authorized by the district office. Income tax has to be paid every year. There is a specific date each year in which all income tax must be paid. This year the date is April 30th.
Reflection:
I think that making an online software will make everyone much happier. By making an online software to do your tax refunds, it can be done at anytime you want. Although the bad thing about this is that, you don't have someone there to answer the questions you have right away. I think this software will help a lot of people who do not own a car or they were busy and you had to hand in your taxes the next day, the online filing would be more convenient. At this time, I do not have a job yet, so I do not have to pay income tax, but when I do, I think I would do the online filing because of its convenience.
Summary:
This article talks about how Canada's QuickTax has encountered a competitor, H&R Block Canada Inc. H&R Block had been focusing on retail tax, preparing two million tax return a year in 1200 retail outlets. H&R also offered an online version of the taxing software, and it allows people do to their taxing filing themselves. Between 2007-2008 Do-It-Yourself fillings went up 5%, while electronic filing was up 9%, and old style filing has gone down 3%. The software can prepare up to 16 tax returns. It also allows the user the users, who thinks their tax return is more complicated than expected can get help from the H&R Block office, where a specialist can help you check over your tax return for $39.95.
Connection:
The connection between this article and the chapter is the tax return/deductions. Employees are hired with the understanding that they will be paid a certain amount per hour, week or year. However, they get deductions off their payrolls before the employee actually gets paid. These deductions are taxes. Income tax is a tax that you deduct based on, the employee's contributions to a registered pension fund or plan, union dues, deduction for living in a prescribed area, and deductions authorized by the district office. Income tax has to be paid every year. There is a specific date each year in which all income tax must be paid. This year the date is April 30th.
Reflection:
I think that making an online software will make everyone much happier. By making an online software to do your tax refunds, it can be done at anytime you want. Although the bad thing about this is that, you don't have someone there to answer the questions you have right away. I think this software will help a lot of people who do not own a car or they were busy and you had to hand in your taxes the next day, the online filing would be more convenient. At this time, I do not have a job yet, so I do not have to pay income tax, but when I do, I think I would do the online filing because of its convenience.
Thursday, February 26, 2009
Chapter 15 Blog
Summary:
This article talks about RBC's profit continuing to slide, while the largest bank in Canada (RY/TSX) still is able to put up $1-billion of earnings despite having a 15% slide in income. RBC looks for more shareholders to reinvest dividends in their bank. They are hoping to get $200 million in investments from shareholders. CIBC has also been struggling lately. They suffered a $1-billion blow from bad bets, investing in credit instruments that are hard to value and sell. CIBC reported a $147-million net income for the first quarter compared to a net loss of $1.5-billion last year in the same quarter.
Connection:
The connection between this article and the chapter, is the comparison between last year's financial statement and this year's financial statement. The net income for CIBC this year was $147-million while the previous quarter they had a net loss of $1.5-billion. This is an increase of 1.6-billion, or 1120.4%. While the largest bank in Canada (RY/TSX) had $1-billion of earnings versus previous quarter's $1.15-billion, a decrease of 15%.
This article talks about RBC's profit continuing to slide, while the largest bank in Canada (RY/TSX) still is able to put up $1-billion of earnings despite having a 15% slide in income. RBC looks for more shareholders to reinvest dividends in their bank. They are hoping to get $200 million in investments from shareholders. CIBC has also been struggling lately. They suffered a $1-billion blow from bad bets, investing in credit instruments that are hard to value and sell. CIBC reported a $147-million net income for the first quarter compared to a net loss of $1.5-billion last year in the same quarter.
Connection:
The connection between this article and the chapter, is the comparison between last year's financial statement and this year's financial statement. The net income for CIBC this year was $147-million while the previous quarter they had a net loss of $1.5-billion. This is an increase of 1.6-billion, or 1120.4%. While the largest bank in Canada (RY/TSX) had $1-billion of earnings versus previous quarter's $1.15-billion, a decrease of 15%.
Reflection:
I think that the banks are capable to earn what they lost in a quarter. So a lost of $150-million should not be a big problem for the banks. Also, RBC seems to be desperate to get their shareholders to reinvest into their bank by offering them 3% discount for those who wish to use them as stock. I think that the banks should reconsider when they lend out loans because their lost in profit is greatly due to the loan losses. They should think again before lending out loans and thoroughly look through the financial statements of the person, or company they're lending to.
Monday, November 10, 2008
Chapter 14 Blog
http://www.canada.com/nanaimodailynews/news/business/story.html?id=c51386a6-2f5d-426c-9c4b-846e802ef3f6
Summary:
The article talks about how people don't know or don't care about the extra transaction fee they have to pay for using their credit cards. Montreal merchant, Tony Fargnoli, explains that 90% of his sales on thanksgiving were paid on debit or credit cards. People don't realize that everytime they use their debit or credit card, they have to pay a transaction fee to the card company, and lately Visa and Mastercard had been boosting the fees. Derek Nighbor, senior vice-president at the council, says that, the premium cards makes things hard. The fee right now is 2%, but they add .2 - .6% to the fees. Retailers would have to increase their prices to fight the fees.
Connection:
The connection between this article and chapter 14, is the use of credit cards. Many people do not know, but banks charge a series of charges such as, transaction fees or annual fees to card holders and interest rates, annual fee charged to each merchant, and the bank also deducts a percentage of the discounts you get from using credit cards. Credit cards can be useful for merchants who do not have enough money in their bank account, because a credit would offer a credit line for the customer, where he/she can still use money even if they do not have money in their bank account up to a certain point.
Reflection:
I think that credit cards are very useful, and the bank is making money off of us. First, we deposit money into banks, then we have to pay charges for the credit card. Then we get annual fees charged on us. Finally, some banks would charge us transaction fees whenever we use their credit cards. I think that what the banks are doing is just to make some money for themselves. We use their credit cards, but it is our money. We should not be charged with transaction fees when the money we're using is just our own. I think that the banks are just too unfair, they charge us fees on using our own money. But of course, they hold our money, so we can't complain too much.
Summary:
The article talks about how people don't know or don't care about the extra transaction fee they have to pay for using their credit cards. Montreal merchant, Tony Fargnoli, explains that 90% of his sales on thanksgiving were paid on debit or credit cards. People don't realize that everytime they use their debit or credit card, they have to pay a transaction fee to the card company, and lately Visa and Mastercard had been boosting the fees. Derek Nighbor, senior vice-president at the council, says that, the premium cards makes things hard. The fee right now is 2%, but they add .2 - .6% to the fees. Retailers would have to increase their prices to fight the fees.
Connection:
The connection between this article and chapter 14, is the use of credit cards. Many people do not know, but banks charge a series of charges such as, transaction fees or annual fees to card holders and interest rates, annual fee charged to each merchant, and the bank also deducts a percentage of the discounts you get from using credit cards. Credit cards can be useful for merchants who do not have enough money in their bank account, because a credit would offer a credit line for the customer, where he/she can still use money even if they do not have money in their bank account up to a certain point.
Reflection:
I think that credit cards are very useful, and the bank is making money off of us. First, we deposit money into banks, then we have to pay charges for the credit card. Then we get annual fees charged on us. Finally, some banks would charge us transaction fees whenever we use their credit cards. I think that what the banks are doing is just to make some money for themselves. We use their credit cards, but it is our money. We should not be charged with transaction fees when the money we're using is just our own. I think that the banks are just too unfair, they charge us fees on using our own money. But of course, they hold our money, so we can't complain too much.
Wednesday, October 29, 2008
Chapter 12 Blog
http://www.canada.com/harbourcitystar/news/story.html?id=68a5083a-f7f0-49af-a30e-f2aa7750335c
Summary:
This article talks about how BC Hydro is trying to make everyone help in conserving energy. BC Hydro has partnered up with more than 500 retailers within the province to try to convince everyone to help conserve energy. Every October, BC Hydro would have a Power Smart Month. They hope that customers would give energy efficient products a chance. They have offered a special instant in-store discount on specialty compact fluorescent light bulbs and Energy Star lighting fixtures. They're trying to attract more customer to use these energy conserving products. Some of the retailers that are taking part are Costco, London Drugs, Zellers, Home Depot, Illuminations, Save on Foods, Walmart and Thrifty Foods.
Connection:
The connection between the article and chapter 12 is the cash discount. They're trying to use cash discount to attract more customers. BC Hydro uses cash discounts to attract more customers to switch to energy efficient products. This would attract more customers to buy from BC Hydro, because everyone likes discounts. The participating retailers would have benefit the most from this. They can use discounts to attrat more customers. The retailers would have their revenue reducted slightly, but can also increase it greatly due to the high amount of consumers.
Reflection:
I think that conserving enegry is a big thing. Even though I don't help much with conserving energy, I think that it is definitely an important thing to do. Energy conservation will greatly affect our future. We should start conserving energy, if we haven't started. I think that starting to save energy now, will greatly benefit our future generations, and of course we want our kids, and their kids to have a good life to live. If we use too much energy now, we'll just teach our future generations to do the same thing, and this world will run out of power sooner than we'll think.
Summary:
This article talks about how BC Hydro is trying to make everyone help in conserving energy. BC Hydro has partnered up with more than 500 retailers within the province to try to convince everyone to help conserve energy. Every October, BC Hydro would have a Power Smart Month. They hope that customers would give energy efficient products a chance. They have offered a special instant in-store discount on specialty compact fluorescent light bulbs and Energy Star lighting fixtures. They're trying to attract more customer to use these energy conserving products. Some of the retailers that are taking part are Costco, London Drugs, Zellers, Home Depot, Illuminations, Save on Foods, Walmart and Thrifty Foods.
Connection:
The connection between the article and chapter 12 is the cash discount. They're trying to use cash discount to attract more customers. BC Hydro uses cash discounts to attract more customers to switch to energy efficient products. This would attract more customers to buy from BC Hydro, because everyone likes discounts. The participating retailers would have benefit the most from this. They can use discounts to attrat more customers. The retailers would have their revenue reducted slightly, but can also increase it greatly due to the high amount of consumers.
Reflection:
I think that conserving enegry is a big thing. Even though I don't help much with conserving energy, I think that it is definitely an important thing to do. Energy conservation will greatly affect our future. We should start conserving energy, if we haven't started. I think that starting to save energy now, will greatly benefit our future generations, and of course we want our kids, and their kids to have a good life to live. If we use too much energy now, we'll just teach our future generations to do the same thing, and this world will run out of power sooner than we'll think.
Wednesday, October 8, 2008
Accounting 12 - Chapter 11
http://www.canada.com/victoriatimescolonist/story.html?id=728a00b3-77a3-4d66-80c5-703d63118480
Summary:
Studies have shown that 2 out of the many major cities in Canada have house prices that are overpriced by atleast 7% and up to 20%. This article was researched by researched at UBC. It showed how the house pricing in Canada had rose drastically starting from 2001. The house pricing many major cities in Canada, like Vancouver, Calgary, Montreal, Ottawa etc..., have been continuing to raise over time. Now that the prices are so high, there are many houses that are unsold or empty new housing. This is caused by many things, the first is obviously the increase in price, the other thing is that The employment rate, especially in Victoria (3.2% scoring at the lowest rating in all of Canadas major cities.), have been dropping. There are 4200 new jobs created locally so far this year to try to up the employment rate. Studies have shown that, many of these emptied out houses are bought by investors or merchanters, who want to make big money when the market goes up, which in time causes so many unsold or unoccupied houses.
Connection:
The connection here in the article is the supplies they have. They have their sale prices so high that no one is buying them, which in a long run, kills their income. Because the prices are so high, and no one is about to be ready to lose some money, the supplies just keep piling up. Soon they will have a hard time to keep track of them. The studies have shown that, some cities have to lower their prices by as much as 20% to have a balance in house prices and rents. If the price of the houses drop, then they will make less profit or might even lose money, but little amounts of money is better than to pile up supplies that are unused and just sitting there wasting.
Reflection:
I think that everyone in Vancouver knows that buying a house in Vancouver costs a fortune. Because of the employment rate dropping, I think that house prices should drop as well, or else they will no longer be demands. If a house costs so much, I would rather just live with my family instead of going out to buy a house for myself to live. It is just not worth it. I think I would consider to live in Edmonton because the house price there is 8% underpriced. But unless I go there for a job, or for school, i would like to live in Vancouver more.
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