Balanced investment choice

Balanced investment choice

Component Two (30 Marks) Due May5th 9.00am 

Mathew and Bettina Watson have come to you for advice about their Superannuation

Mathew is 38 and works for a road construction company. He has an accumulation fund account with an Industry based fund. As part of the Enterprise Bargaining Agreement at his work his employer pays an amount equal to 12 % of his salary into superannuation. When he joined the fund he was automatically placed into the default investment choice, which is a balanced investment choice. Mathew has remained in the balanced investment choice because he has never taken time to work out what is the best investment selection for him

In the past year Mathew’s fund has produced a positive nominal return of 8% before fees and taxes.

In 2014 Mathew earned $73,400. He has a balance in his Superannuation account as at 31st December 2013 of $268,420. Mathew salary sacrifices $5000 per annum of his salary into Superannuation.

Bettina is 43 years old. She is an editor with a publishing company and works 2.5 days per week and does not want to increase her working time as she has ongoing charity work which she is keen to continue. Bettina is in an accumulation scheme. With a retail fund and her employer contributes the standard superannuation guarantee into her account. Bettina is also in a balanced investment choice which produced a return of 11% before fees and charges..

In 2013 Bettina earned $39,400. She has a balance in her Superannuation account as at 31 st December 2013 of $247,612. She does not salary sacrifice

Both Mathew and Bettina intend to keep working until Mathew reaches his preservation age.

They have $140,000 in investments assets outside of Superannuation. It consists of a Holiday home (purchased for $70,000 in 1995) They have a mortgage on their home of $95,000 and have 10 years to go with a current rate of interest at 6.75% pa. They have one child who is independent. They currently generate a surplus of $10,000 per year (the current expenditure included the current P & I loan repayments of $13,863 pa). Their great passion is dinning out. They estimate that they would spend approximately $30,000 pa on restaurants meals and entertainment.

Retirement for them seems a long way off however they have decided to set themselves a target. A friend has suggested that if you can generate a retirement income of 65% of your pre-retirement income then you should have a fairly comfortable retirement. Mathew and Bettina have no idea whether this is an achievable target or not that is why they have come to you for advice.

Other assumptions:

  • Inflation rate 2.5%
  • Nominal increase in income of 6.09% for both Mathew and Bettina.
  • Mathews Industry fund charges a 1.5% fee which is a direct deduction from the nominal return
  • Bettina’s fund charges 3% which is a direct deduction from the nominal return
  • Your interview with them was at the end of 2013 so all modelling would be done in the 2014 calendar year (1/1/14)
  • Funds invested in retirement are expected to generate a nominal return of 7.11% after fees have been deducted.
  • All superannuation contributions are made in December of each year and therefore do not attract earnings in the year in which they are made.

Your requirements: 

Mathew and Bettina would like a report, which models & displays the following information:

A: How much can they expect to accumulate in Superannuation by the time that they retire at age 60 & 65 respectively based on their current superannuation settings. You will need to model Matthew and Bettina’s superannuation separately.

  • PART A for Mathew should display on a maximum of 2 A4 spread sheet pages
  • PART B for Bettina should display on a maximum of 2 A4 spread sheet pages.
  • Therefore a maximum of four pages

B: The retirement income stream, expressed as a percentage of their combined pre-retirement income that they can expect in retirement based on the accumulated amount you determined in part A above. This should be based on Bettina’s life expectancy. [Note: this can be calculating using the Payment PMT function in Excel – we are not asking what type of income stream they should choose]

C:What strategies can you suggest for boosting the couples retirement income?

The client have three strategies / concerns that they would like you to explore however they expect that you have a number of additional strategies that you wish to investigate and report on.

* Mathew is trying to convince Bettina that her Superannuation would be better placed in an industry fund rather than a retail fund. They would like to hear your views on the matter.

* Mathew has been trying to convince Bettina that a $10,000 salary sacrifice into superannuation is a much better idea than a $10,000 after tax contribution into superannuation but he has not had much success. He would like you to explain the Bettina the benefit or otherwise of a $10000 salary sacrifice versus a $10000 after tax contribution

* Bettina believes that they should sell the holiday home and place the proceeds of sale into either Mathew’s or her Superannuation fund.

[Note: You are required to explain and discuss your strategies AND provide some financial modelling of results] 

A separate spreadsheet SHOULD be included for each scenario you might consider in this part. If you have a preferred scenario and /or you want to demonstrate to Mathew or Bettina that thinking behind your strategies you can include one spreadsheet in this part —– it must however print on one A4 page. Other results for Mathew and Bettina must be demonstrated through the use of tables and graphs or charts etc.

 

Note:EFFECTIVE communication is the key. Your written commentary to this part should not exceed 2000 (+/-10%) – not including the spread sheets.

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MGM-Mirage – Mandalay Resorts Casino Merger

MGM Mirage – Mandalay Resorts Casino Merger

Case Study #9

MGM-Mirage – Mandalay Resorts Casino Merger

Prepared by Prof. Frank Cavico

In June of 2004, in an attempt to capture the resurgent popularity and profitability of Las Vegas, billionaire Kirk Kerkorian’s MGM Mirage announced a bid to buy rival Mandalay Resort Group, a deal, if successful, which would turn his casino company into an unprecedented giant. MGM-Mirage’s offer was $68 a share, or $4.85 billion, plus the assumption of $2.8 billion in debt, which would make the merger the largest acquisition in the casino industry.

If the merger passes the scrutiny of government anti-trust regulators, Mr. Kerkorian would dominate the Las Vegas Strip, just as it experiences a revival. He would control more than half of the 72,000 hotel rooms on the famous boulevard and most of the acreage along the west side of the Strip from its southernmost casino, Mandalay Bay, and northward for approximately two miles.

The merged company would own some of the most desirable properties in Las Vegas, including the high-end Mandalay Bay and Bellagio, and it would own more casinos in places such as Atlantic City, Detroit, and Australia.

People familiar with the merger negotiations stated that they expected a deal to be struck shortly. They also said that raising funds for the purchase would not be a problem, since MGM Mirage has a credit line of $1.5 billion and the company is likely to get further credit if necessary. Moreover, the top executives of Mandalay are willing to sell, and thus the only real question is price, these people say.

One industry analyst said the deal makes sense financially and strategically for MGM Mirage. This expert also said that there is room for the price to go higher. He stated, moreover, that he believes the merger would add to MGM Mirage’s earnings up to an offer of as high as $81 a share.

The timing of the deal arrives just as Las Vegas as entering a new phase in its storied history, illustrated by its formerly sinful roots as a home to topless shows, hot night clubs, and naughty behavior. This new, non-family, theme, combined with the resurgent economy, together with a sharp increase in discount airline’s service from the East coast, have all helped make Las Vegas a heavily visited and newly “cool” place to visit. Mandalay’s Mandalay Bay Resort has been at the heart of this new Las Vegas with its after hours clubs, array of trendy restaurants and hotels, and a vast convention center that draws visitors during the week. Moreover, the Mandalay Bay was the first to bring a well-know five star hotel to the Strip, with its Four Seasons hotel. Recently, it opened THE Hotel, a hip design style suite hotel that appeals to 20-30 old visitors who are discovering Las Vegas for the first time.

For MGM Mirage, the addition of Mandalay Bay, the pyramid-shaped Luxor, the Excalibur castle, and RV-oriented Circus-Circus, would provide a broad range of casinos from high to low end. Mandalay Bay, in particular, would allow MGM-Mirage to compete head-for-head for convention business with the Venetian casino and the Sand’s Expo convention center.

The power of cross-marketing among the casinos, especially the ability to offer loyalty “perks” through a company-wide frequent-customer program. This enhanced marketing capability would give the new merged casino giant a huge advantage over smaller competitors, such as Caesar’s Entertainment and the Venetian.

There is one very important legal issue to resolve, however, and that is whether the Federal Trade Commission would allow the two companies to merge. Even if the FTC approved the deal, it definitely is not clear that the agency would allow the combined company to keep all of its casino properties. The FTC has the power to require the sale of directly competing casino properties as a condition of approval to the deal. Yet people familiar with the MGM Mirage insist that the company is confident it can assuage government regulators’ anti-trust concerns, including the sale of a directly competing property or two.

Soon after the merger was announced, Mandalay Resort Group’s stock price rose above MGM Mirage’s $68 a share bid for the company, thereby signaling that investors expect majority owner Kirk Kerkorian to increase his offer. Mandalay’s shares traded up 17% to $70.23 following Kerkorian’s unsolicited $4.85 billion bid to create the largest U.S. casino-resort company. Shares of Ceasars Entertainment and other casino companies also rose. Mandalay may rebuff his first offer, forcing MGM Mirage to pay as much as $75 a share or even higher..

Kerkorian is 87 years of age, and owns about 57% of MGM Mirage.

The acquisition would MGM Mirage a larger piece of the meetings business in Las Vegas, where the number of convention visitors increased 11% last year. MGM Mirage would own a total of 36,000 rooms, or about one-half the total number on the Las Vegas Strip, in 11 casino resorts, as well as Mandalay’s more than one million square foot convention center.

Shares of MGM Mirage fell $1.19 to $44.84 after the announcement of the attempted merger.

Questions:

  1. Is this casino merger a legal one pursuant to anti-trust law? Why or why not?
  2. Is this casino merger a moral one pursuant to Utilitarian ethics? Why or why not?
  3. What should a merged Mirage-Mandalay Casino be doing to be a socially responsible casino resort? Discuss.

Bibliography: Herald, June 8, 2004, p. C1; Sun Sentinel, June 8, 2004, p. 3D; Wall Street Journal, June 7, 2004, pp. B1, B5.

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This paper reflects my first order”This is a reflection paper of the Veterans interview.

Paper details:
YOUR ORAL HISTORY PROJECT REFLECTION ESSAY

The goals of this “bottom-line” history project are:

1) to introduce you to effective communications through the experience of conducting an interview with a person who was an actual participant in a historical period,

2) to familiarize you with the customary array of tools employed by historians to produce a historical work, and

3) to challenge you to identify and address elements of civic and personal responsibility revealed to you by your interviewee’s experiences and insights. Verbal, written, and visual communication are principal tools for this purpose.

You should answer the following questions as you would any college-level academic writing endeavor you produce: with mature, thoughtful prose, correct spelling, and proper punctuation. The required minimum length of your essay is 750 words of 12-point, double-spaced text, with standard margins as set by the MLA style manual.

1). Discuss the impact, change or effect that the interview had on your knowledge or understanding of the historical period experienced by your interviewee. Give specific examples.

2). Prior to conducting your interview, what was your understanding of how scholars create historical studies? Explain how your interview experience altered or influenced that understanding.

3). What have you learned from your interview about how the contributions of one individual can impact the well-being of various communities such as a neighborhood, school, church, town/city, state, and/or nation? How has this project impacted your understanding of the importance of becoming involved in order to make life better for you and those around you?

4). What example(s) can you identify from your interviewee’s experiences that illustrate challenging ethical decisions they faced and their efforts to find a solution? How might you deal with a similar situation and what impact do you think this might have on the fundamental principles that guide you in life?

5). Identify lessons you learned from the interview and its historical content that pertain to your own life and role as a daily participant in today’s ongoing history of the U.S.

6). What most surprised you about the interviewee’s answers to your questions? What unexpected things did you learn?

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Comparative Labour and Employment Law

Comparative Labour and Employment Law

Comparative Labour and Employment Law

Assignment 3 – 10 points

Purpose and Objective of this Assignment:

  • The purpose of this assignment is to give the students the opportunity to demonstrate their knowledge and understanding of anti-discrimination laws in the work place, especially how the can effect women.

 

Expected Learning Outcomes:

  • After reading and reviewing the chapter relating to Discrimination: The Statutes, The handout (also available on Blackboard), and related classroom discussion – the students will be able to analyze, summarize, and give a “client” legal advice based on the scenario presented.

 

Tools and Resources:

  • Labor and Employment Law by Victoria E. Ullman
  • UK Government Handout on Anti-Discrimination Law
  • Microsoft Office
  • Blackboard

Requirements:

  • Submit hard copy in class and soft copy via Blackboard
  • Minimum of 2 pages, Times New Roman or Arial, font size 12
  • Must have cover page with Name, ID Number, LAWB3316
  • Your own work – NO cut and paste!

 

 

Scenario:

You are a lawyer working at WE WIN Law Firm. A possible new client comes to see you seeking your legal advice. She is a young black female who is an associate at a large law firm. The firm has a policy against sexual harassment that indicates employees should report sexual harassment and will be protected if they do so. Your client has experienced harassment in several forms. Partners regularly pressure young female associates to go on “retreats” at one of the partner’s cabins in the woods; these trips clearly have no business purpose. Your client doesn’t actual know what goes on there as she has never accepted an invitation to go. One partner has repeatedly told her she’s the prettiest associate the firm has and she must workout because she looks so good in her clothes. She asked after that not to work for that partner and she was moved. One senior associate constantly made inappropriate comments, including asking when she was going to get married and have babies, until she reported him under the firm’s policy. Although the firm is allegedly attempting to resolve the complaint, other partners criticized her for complaing only because she had handled a case poorly. What legal advice would you give her and why? Does she have a good case? What causes of action does she have?

Assignment Rubric:

Criterion
Substandard
4 pts
Poor
8 pts
Fair
12 pts
Good
16 pts
Exceptional
20 pts
Content & Discussion
20pts
Substandard

– Content is incomplete.
Major required topics are lacking or not all included or poorly discussed.

Poor

– Major points are addressed, but not well supported or discussed.

Fair

– Content is accurate. Content is mostly complete.

Good

– Major points are stated clearly and are well supported.

Exceptional

– Purpose of the writing is clear. All required points are clearly explained.

Organization & Structure
20 pts
Substandard

– Structure detracts from the message of the writer. Introduction and/or conclusion is missing. Paragraphs are disjointed and lack transition of thoughts.

Poor

– Structure of the paper is not easy to follow. Introduction does not preview all major points. Paragraph transition needs improvement. Conclusion is does not flow well.

Fair

– Structure of the paper is clear.

Good

– Introduction previews major points. Paragraph transitions is logical.

Exceptional

– Conclusion flows from the body of paper.

Topic Assessment
20 pts
Substandard

-Paper does not present well documented research for topic discussion, and is well below required length.

Poor

-Paper presents some researched topics for discussion, and is half of required length.

Fair

-Paper presents adequately researched topics for discussion, and is almost required length.

Good

-Paper presents logical researched topics for discussion, and is required length.

Exceptional

-Paper presents well researched and documented topics for discussion. Paper is the required length.

Grammar, Punctuation & Spelling
20 pts
Substandard

– Paper contains numerous grammatical, punctuation, and spelling errors. Language is not clear or precise, and is hard to follow.

Poor

-Paper contains several grammatical, punctuation, and spelling errors.

Fair

– Paper contains few grammatical, and a few punctuation and spelling errors. Language is mostly clear and precise.

Good

-Paper contains 3-5 errors in grammar, punctuation or spelling. Language is clearly stated.

Exceptional

– Paper contains less than 1-2 errors in grammar, punctuation or spelling. Language is clear and precise.

Submitted on time
20 pts
Substandard

Failed to turn in the paper at all or was 4 or more days late.

Poor

Turned in paper 3 days late.

Fair

Turned in paper 2 days late.

Good

Turned in paper 1 day late.

Exceptional

Turned in on time or early.

 

100 points divided by 10 = point value for this assignment

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Developmental trajectory associated with an early age of onset and a stable life of crime

Learning Objectives

1. Be able to identify traits and developmental markers in childhood associated with problem behavior
2. Be able to identify traits and developmental markers in adolescence and adulthood associated with problem behavior
3. Be able to discuss the limits of environmental influences across the life-span

Readings: Wright chapters 9, 10, 11
Beaver chapter 5
Criminals in the making : criminality across the life course by John Paul Wright, Stephen G. Tibbetts, Leah E. Daigle. Sage: Los Angeles, 2008.
Assignment: Discuss the developmental trajectory associated with an early age of onset and a stable life of crime.

 

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