Marks & Spencer Essay Example | Topics and Well Written Essays - 3000 words

Marks & Spencer - Essay Example The company's preferred method of returning cash is by using the B shares scheme. Since it does not want to use the traditional share repurchase, it has created a conversion of shares – for every 21 current ordinary shares, investors will receive 17 new ordinary shares along with 1 B share for every current ordinary share (Marks & Spencer Plc 20020). The purpose of the conversion is to decrease the company's shareholding without using the traditional repurchase approach, while the use of B shares intends to give back the cash by redeeming it under two choices (Vandermewe 2003).  This B share scheme has offered both the company and the investors with regard to payout policy. The scheme addresses both the concerns of investors when cash is distributed by using the traditional shares repurchase, as well as their concerns when funds are distributed by increasing the amount dividend payout – that is, the high amount of income taxes that investors incur when they receive di vidends (Hakanson 1982). From the point of view of the company, it also uses this scheme in order to leverage certain payout policy theories.  For one, the B share scheme addresses the issues of payout policy such as information asymmetry, residual theory, and expectations theory (Keown 2002). When the company has decided to return the  £2 billion to its shareholders, it aims to reorganize its capital structure in line with the strategic changes that aims to implement (Marks & Spencer 2002). However, if the company chooses to repurchase its stock, investors will be skeptical about the company's moves and would have a more risky perception of the company, thus affecting the company's price/earnings ratio and the value of the stock (Brealey & Myers 2003). As with residual theory, the level of the cash that should be given back to the investors should be its residual earnings, after additional profitable investments have been made (Keown 2002).

Nursing degree (care study) Essay Example | Topics and Well Written Essays - 5000 words

Nursing degree (care study) - Essay Example " i am almost finished with the research. Today when i opened the message column, the customer's message explaining the misunderstanding between the customer, ADMIN and this writer as follows and i quote " 61 From: Customer to Writer Date: 2006-08-08 01:47 Subject: Re: i saw the error made by the previous writer causing you to fail. Status: New There has been a clear misunderstanding with reagrds to this assignment the problem is 1) I was assigned a wriiter many months ago and this failed. I had to pay 140 for this!!! 2) I contacted admin but was told that because I had a complaint and it was over 2 weeks old I could not get another writter for free therefore I trusted the service and asked for a writter to complete. 3) The wriiter assigned was terrible and just plagarised lots of work and didn't stick to what I requested. 4) I was assigned a new writter, however I stressed to both the writter and admin that this work had to be completed by 2nd August as the work had to be submitted by 3rd August. 5) The new writter contacted me on the 2nd August after having the work for 5 days and stated that they have not done anything to the work as they could not find the relevant information. 6) I contacted admin to complain and they said I could have a new writter, howver I turned down a new writter as they would of only had about 10 hours to work on this assignemnt until the deadline of 3rd August 9am. So sorry admin had misinformed you, but I had to complete the work myself I stayed up all night. " therefore, please remove this from my current folder because it is unfair to fine me fothe LAZINESS of the RAMESH and the second writer. to be frank i could finish this on time if the customer had me as...i am working on it now. will you rather give your research on the history of the patient you did or do i have get a patient for myself please respond so i can finish this on time. i am almost finished with the research. Today when i opened the message column, the customer's message explaining the misunderstanding between the customer, ADMIN and this writer as follows and i quote " 61 From: Customer to Writer Date: 2006-08-08 01:47 2) I contacted admin but was told that because I had a complaint and it was over 2 weeks old I could not get another writter for free therefore I trusted the service and asked for a writter to complete. 6) I contacted admin to complain and they said I could have a new writter, howver I turned down a new writter as they would of only had about 10 hours to work on this assignemnt until the deadline of 3rd August 9am. therefore, please remove this from my current folder because it is unfair to fine me fothe LAZINESS of the RAMESH and the second writer. to be frank i could finish this on time if the customer had me as the writer in the first place instead of the other 2 writers. by the way, are they premium writers