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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.
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