by Robert S. MacDonald Appraisers, lenders and financial analysts have
|
|
- Donna Blankenship
- 6 years ago
- Views:
Transcription
1 by Robert S. MacDonald Appraisers, lenders and financial analysts have been calculating inventory-turnover ratios for the last 100 years. The ratio is calculated by dividing Cost of Goods Sold by the ending inventory then dividing the quotient into the number of days in the period, e.g. 365 days. Today, lenders can use digitally-reported data and calculate inventory turns by categories, classes or even standard stock keeping units. This provides the lender much more detailed and useful analysis of inventory. Base case: Nonseasonal inventory The reader s attention is directed to Exhibits 1, 2 and 3 beginning on page 59. Most inventory appraisers and lenders value more highly inventory that turns rapidly than inventory that turns slowly. The logic behind their thinking is that the market favors inventory with a high turnover and criticizes slow-turning inventory. In Exhibit 1 the appraiser has valued fast-turning inventory at 70 percent and slowmoving inventory at 30 percent. Contrasted against seasonal inventory Exhibit 2 shows the inventory at the start of the new season with new model inventory that shows little or no turnover because there are little or no sales for the new model items. The appraiser, knowing that this slow-turning inventory is brand new, has valued it at 70 percent. Conversely, in Exhibit 3, carry-over inventory from last year s seasonal inventory shows high turnover relative to last year s sales, but in that case the appraiser valued that inventory at a low 10 percent because she knew that this was carry-over inventory. Seasonal carry-over apparel inventory has much risk because of associated style and fashion factors such as color, pattern, texture and tailoring. By comparison, the (Continued on page 58) 56 THE SECURED LENDER MARCH/APRIL 2003 VOLUME 59 NUMBER 2
2 Lenders cannot track seasonal carry-over inventory in a truly effective manner without using digital inventory-reporting. appliance inventory shown in Exhibit 1 has very low seasonal, style and fashion risks. Preseason inventory versus postseason carry-over inventory At first glance, Exhibits 2 and 3 appear to be identical and they are except for the Values. The Item Numbers, Descriptions, Unit Amounts and Costs are, in fact, identical, but Exhibit 2 shows a preseason inventory while Exhibit 3 shows a postseason carry-over inventory. Observe how the point in time affects the value of the same inventory. Exhibit 2 shows many items with no historical sales units and high values while Exhibit 3 shows many items with high-inventory turns, but low values. Lenders need to guard against inventory over-advances by demanding loan paydowns on carry-over inventory. Exhibits 1, 2 and 3 are fictional examples of the principles described here. However, a real-life case study is summarized below and it demonstrates in detail why lenders need to monitor seasonal inventory collateral in a more sophisticated and relevant manner. Robert S. MacDonald is a graduate of Alfred University. He is a marketing representative for Plant & Machinery, Inc. and the owner operator of AVS, Corp., Stamford, Connecticut. A case study of an actual orderly liquidation of seasonal carry-over inventory Recently, a company was requested by a secured lender to foreclose on an inventory of casual men s clothing imported from India and Sri Lanka. It took possession of the goods in a Stamford, CT warehouse from the lender s borrower. After several months of litigation, the lender gave the company the green light to sell this carry-over inventory of men s casual clothing which was labeled, plastic-bagged and out of season. The goods were marketed to all the major discount retailers. None had any interest in purchasing this inventory. These major discount retailers were interested in only purchasing recognizable brand names. Some sales interest was found at a different level of trade. The goods were sold to a company operating a chain of salvage stores in Mississippi for $1.00 per item. The sales prices printed on the plastic-packaged garments ranged from $8.00 to $20.00 each. That means about ten cents on the cost dollar. This is why lenders need to guard against loan advances on carryover seasonal inventory through digital inventory-reporting and line-item turnover analysis. This number-crunching, however, has to be combined with a thorough understanding and/or diligent study of the borrower s industry and the borrower s business strategy in that industry. The need for digital inventory-reporting Lenders cannot track seasonal carry-over inventory in a truly effective manner without using digital inventory reporting. There are several additional advantages of digital reporting over paper inventory reporting but the most significant reason is the increased level of confidence that the lender can gain from the reliability of the digital data. With paper reporting, the lender does not even know if the totals Foot correctly. The lender should request the borrower provide reports with item labels that communicate the month and year purchased and/or manufactured so that report readers can better track and understand the inventory items. The lender should also instruct its field examiners to test check these dates by a random sampling of purchase invoices. In addition, the field examiners should test check historical unit sales for accuracy and reliability. A more subtle, but highly significant advantage, of digital reporting over paper reporting is the ability of the lender s account executives and field examiners to carry this digital data home in their lap-top computers from their offices. By so doing, these lending professionals are able to achieve much higher levels of understanding of their borrowers businesses and collateral. 58 THE SECURED LENDER
3 EXHIBIT 1 NONSEASONAL INVENTORY Item No. Item Units on Hand Cost Extended Unit Sales # Days OLV % OLV $ Description Cost Sales YTD 101 APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , , APPLIANCE , ,000 4,200,000 34% 1,444,000 (Continued on page 60) MARCH/APRIL,
4 EXHIBIT 2 SEASONAL INVENTORY START OF SEASON Item No. Item Units on Hand Cost Extended Cost Unit Sales # Days OLV % OLV $ Description Sales YTD 101 SHIRT A , , SHIRT B , , SHIRT C , , PANTS A , , PANTS B , , PANTS C , , SHORTS AA , , SHORTS BA , , SHORTS CA , , SHIRT AA , , SHIRT BA , , SHIRT CA , , PANTS AA , , PANTS BA , , PANTS CA , , SHORTS AA , , SHORTS BA , , SHORTS CA , , SHIRT AB , , SHIRT BB , , SHIRT CB , , PANTS AB , , PANTS BB , , PANTS CB , , SHORTS AB , , SHORTS BB , , SHORTS CB , , SHIRT AC , , SHIRT BC , , SHIRT CC , , PANTS AC , , PANTS BB , , PANTS CC , , SHORTS AC , , SHORTS BC , , SHORTS CC , ,000 4,200,000 63% 2,664, THE SECURED LENDER
5 EXHIBIT 3 SEASONAL CARRY-OVER INVENTORY END OF SEASON Item No. Item Units on Hand Cost Extended Unit Sales # Days OLV % OLV $ Description Cost Sales YTD 101 SHIRT A , , SHIRT B , , SHIRT C , , PANTS A , , PANTS B , , PANTS C , , SHORTS AA , , SHORTS BA , , SHORTS CA , , SHIRT AA , , SHIRT BA , , SHIRT C A , , PANTS AA , , PANTS BA , , PANTS CA , , SHORTS AA , , SHORTS BA , , SHORTS CA , , SHIRT AB , , SHIRT BB , , SHIRT CB , , PANTS AB , , PANTS BB , , PANTS CB , , SHORTS AB , , SHORTS BB , , SHORTS CB , , SHIRT AC , , SHIRT BC , , SHIRT CC , , PANTS AC , , PANTS BB , , PANTS CC , , SHORTS AC , , SHORTS BC , , SHORTS CC , ,000 4,200,000 17% 696,000 MARCH/APRIL,
Powercell Technologies - Strategic Marketing Direction?
Powercell Technologies - Strategic Marketing Direction? Powercell Technologies is a B2B distributor and value-added retailer of rechargeable and disposable batteries used in institutions, specialty industrial
More informationU.S. Classes 3-8 Used Trucks
Americas Commercial Transportation Research Co., LLC www.actresearch.net COMMERCIAL VEHICLES State of the Industry U.S. Classes 3-8 Used Trucks May 215 Data Published June 24, 215 Contributor to Blue Chip
More informationMONRO MUFFLER BRAKE, INC. PROVIDES FOURTH QUARTER AND FISCAL 2017 FINANCIAL RESULTS
CONTACT: John Van Heel Chief Executive Officer (585) 647-6400 Robert Gross Executive Chairman (585) 647-6400 FOR IMMEDIATE RELEASE Brian D Ambrosia Senior Vice President Finance Chief Financial Officer
More informationHOUSING REPORT NORTHWEST MICHIGAN YEAR END 2018
NORTHWEST MICHIGAN Northwest Michigan 218 Highlights Waterfront Non-Waterfront : dropped 2% from last year to the lowest level in the past 4 years : had a slight decline of 3% from the prior year. Average
More informationPerformance of Batteries in Grid Connected Energy Storage Systems. June 2018
Performance of Batteries in Grid Connected Energy Storage Systems June 2018 PERFORMANCE OF BATTERIES IN GRID CONNECTED ENERGY STORAGE SYSTEMS Authors Laurie Florence, Principal Engineer, UL LLC Northbrook,
More informationGross Domestic Product 2014 Q4
REPUBLIC OF RWANDA NATIONAL INSTITUTE OF STATISTICS OF RWANDA P.O.Box 6139 KIGALI - RWANDA Gross Domestic Product 2014 Q4 March 2015 I. Gross Domestic Product and its structure In the fourth quarter of
More informationFirst Half 2018 Resale Retail Transaction performance was better in Larger and Newer market groups and segments:
For Immediate Release: AMSTAT releases latest Business Jet and Turbo Prop Resale Market Update for the first six months of 218 showing continued strength in Heavy Jet resale transactions and a tightening
More informationFord s E-Business Strategy
Ford s E-Business Strategy May 10, 2000 Ed Davis Brandt Allen 1 Why would anyone buy a car on the web? What sort of person? What sort of car? What are the risks? What s Ford s E-Business Strategy? 2 What
More informationSUCCESS INDICATORS FOR THE PLAN MMBTU ANALYSIS
SUCCESS INDICATORS FOR THE 2019-2021 PLAN MMBTU ANALYSIS EEAC Consultants and PAs March 19, 2018 (draft 3) WHY CONSIDER ADDITIONAL SUCCESS INDICATORS? Count all of the savings associated with the state
More informationExtract from the 4 Corners program transcript from Jonathan Holmes' report into energy efficiency in Australian households, "The Home Front".
Extract from the 4 Corners program transcript from Jonathan Holmes' report into energy efficiency in Australian households, "The Home Front". JONATHAN HOLMES: But thousands of cheap air conditioners are
More informationProduct Training in Cambodia
MAY 2009 South East Asia & South Asia Cummins Filtration International Corp. 8 Tanjong Penjuru, Singapore 609019 Tel : (65) 6266 3833 Fax : (65) 6265 6909 For enquiries please contact : michael.tan@cummins.com
More informationMONRO MUFFLER BRAKE, INC. ANNOUNCES FOURTH QUARTER AND FISCAL 2015 FINANCIAL RESULTS
CONTACT: John Van Heel Chief Executive Officer (585) 647-6400 Robert Gross Executive Chairman (585) 647-6400 Catherine D Amico Executive Vice President Finance Chief Financial Officer (585) 647-6400 Investors:
More informationBASIC REQUIREMENTS TO BE A DEALER. RV Trade Digest, January 1995
BASIC REQUIREMENTS TO BE A DEALER - Bill Gorman - RV Trade Digest, January 1995 The time for fair-weather dealers is back. Fair weather dealers are those who only come out of the closet in good times.
More informationSteering ahead FY2012 Results Briefing 22 nd June 2012
Steering ahead FY2012 Results Briefing 22 nd June 2012 AGENDA FY2012 Highlights Business Overview Financial and Operations Highlights Industry Review Outlook & Growth Strategies FY2012 HIGHLIGHTS Revenue
More informationSchedule GS-2 INTERMEDIATE GENERAL SERVICE
I. APPLICABILITY AND AVAILABILITY A. Except as modified herein, this schedule is applicable only to a non-residential Customer (1) who elects (a) to receive Electricity Supply Service and Electric Delivery
More information"Top Ten" reasons to measure: 10. To Provide Proper Sheet Metal Fit
Important Reasons why your collision shop needs to Measure. This is one of the most important functions of collision repair and it is a Must Do Process for the success of your business. by Tom Brandt Whether
More informationInternational Research Journal of Applied Finance ISSN Audit Practices for Automobile Dealerships
Audit Practices for Automobile Dealerships Paul C. Schauer Abstract One of the most important factors in a successful audit is a well-designed audit plan. The audit plan is a comprehensive process determining
More informationStreet A Division of Masco Steel Industries Ltd. Overhead Cranes. Jib Cranes. Gantry Cranes.
A Division of Masco Steel Industries Ltd. www.mascocranes.com Overhead Cranes. Jib Cranes. Gantry Cranes. Monorail Systems Manufacturing - Service - Inspection Safety Training - Modifications Wetaskiwin
More informationBIMB Holdings Berhad - Strategy, SWOT and Corporate Finance Report
BIMB Holdings Berhad - Strategy, SWOT and Corporate Finance Report BIMB Holdings Berhad - Strategy, SWOT and Corporate Finance Report The Business Research Store is run by Sector Publishing Intelligence
More informationOn track. Investor and Analyst Presentation On the Occasion of the Release of the Preliminary Figures for FY 2011 Hanover, 19 January 2012
On track. Investor and Analyst Presentation On the Occasion of the Release of the Preliminary Figures for FY 2011 Agenda Delticom at a Glance Business Model Profit & Loss Balance Sheet Outlook 2 Agenda
More informationStrategy Implementation of VOLKSWAGEN
2012 Strategy Implementation of VOLKSWAGEN Department Of Business Administration, University Of Lucknow Submitted To: Prof. J.K. Sharma Submitted By: Ankit Kamal Roll No.06 MBA (EB) Sem IV Index Introduction
More informationQuarterly Market Detail - Q Townhouses and Condos Miami-Fort Lauderdale-West Palm Beach MSA
ly Market Detail - Q3 218 Summary Statistics Q3 218 Q3 217 Paid in Cash 11,55 9,91 11.7% 5,712 5,554 2.8% $19, $18, 5.6% Average Sale Price Dollar Volume $281,57 $264,562 6.2% $3.1 Billion $2.6 Billion
More informationRetrofitting unlocks potential
54 ABB REVIEW SERVICE AND RELIABILITY SERVICE AND RELIABILITY Retrofitting unlocks potential A modern approach to life cycle optimization for ABB s drives delivers immediate performance improvement and
More informationEMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, WEDNESDAY, JANUARY 31, 2007 GROSS DOMESTIC PRODUCT: FOURTH QUARTER 2006 (ADVANCE)
NEWS RELEASE EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, WEDNESDAY, JANUARY 31, 2007 Virginia H. Mannering: (202) 606-5304 BEA 07-02 Recorded message: (202) 606-5306 GROSS DOMESTIC PRODUCT: FOURTH QUARTER
More informationAN RPM to TACH Counts Conversion. 1 Preface. 2 Audience. 3 Overview. 4 References
AN 17.4 RPM to TACH Counts Conversion 1 Preface 2 Audience 3 Overview 4 References This application note provides look up tables for the calculation of RPM to TACH Counts for use with the EMC2103, EMC2104,
More informationMotor Tax Classification of Vehicles converted Post Registration. A new process of assessment is required when vehicle conversions have taken place.
Motor Tax Classification of Vehicles converted Post Registration. A new process of assessment is required when vehicle conversions have taken place. Conversion is defined in VRT legislation as follows:-
More informationAMSOIL INC. A commitment to excellence in synthetic lubrication.
AMSOIL INC. A commitment to excellence in synthetic lubrication. HISTORY As a jet fighter squadron commander, Lieutenant Colonel Albert J. Amatuzio had ample opportunity to witness synthetic lubricants
More informationNEW HAVEN HARTFORD SPRINGFIELD RAIL PROGRAM
NEW HAVEN HARTFORD SPRINGFIELD RAIL PROGRAM Hartford Rail Alternatives Analysis www.nhhsrail.com What Is This Study About? The Connecticut Department of Transportation (CTDOT) conducted an Alternatives
More informationFLX. Compressor Series7. Delivering Excellence
FLX Compressor Series7 Delivering Excellence What is a FLX7? The FLX7 is Sanden s flexible compressor series. We started with the SD7H15 compressor known throughout the automotive and mobile HVAC industries
More informationSoybean Farming Pays the BILLS
J. J. Production Soybean Farming Pays the BILLS Farmer Joe is an average Illinois Soybean Farmer. His farm has 36 acres for soybean planting. Soybeans are weighed by the bushel. The crop yield is how many
More informationAGRIBUSINESS (AGB) AGB Courses. Agribusiness (AGB) 1
Agribusiness (AGB) 1 AGRIBUSINESS (AGB) AGB Courses AGB 101. Introduction to Agribusiness. 4 units Prerequisite: AGB major and freshman standing. Orientation to the agribusiness sector of agriculture.
More informationSales, Discounts and Rebates
Sales, Discounts and Rebates Objectives In this lesson you will: find the amount of discount for a sale item find the cost of an item after a rebate calculate sale prices according to the dollar amount,
More informationHonda Accord theft losses an update
Highway Loss Data Institute Bulletin Vol. 34, No. 20 : September 2017 Honda Accord theft losses an update Executive Summary Thefts of tires and rims have become a significant problem for some vehicles.
More informationfy05i06 final results ESPRIT HOLDINGS LIMITED
fy05i06 final results HOLDINGS LIMITED Forward-looking statements This presentation and subsequent discussion may contain certain forward-looking statements with respect to the financial condition, results
More informationRecord CY 2016 EPS-diluted-adjusted of $6.12, an increase of $1.10 Y-O-Y. Q EPS-diluted-adjusted of $1.28, a decrease of $0.11 Y-O-Y.
1 2 3 Q4 2016 global deliveries up 0.1 million units year-over-year (Y-O-Y), a 3.3% increase. Volume gains primarily in North America and China, offset by reductions in International Operations (excluding
More informationBy the Book: How to Offer E15
By the Book: How to Offer E15 In 2012, the U.S. Environmental Protection Agency (EPA) approved the use of E15 fuels in 2001 and later model year vehicles and all flex-fuel vehicles (FFVs). EPA has specifically
More informationFigure 1 Unleaded Gasoline Prices
Policy Issues Just How Costly Is Gas? Summer 26 Introduction. Across the nation, the price at the pump has reached record highs. From unleaded to premium grade, prices have broken three dollars per gallon
More informationMINISTRY OF TRANSPORT REPORT. Possible effects of the Vehicle Exhaust Emissions Rule on vehicle prices
MINISTRY OF TRANSPORT REPORT Subject: Possible effects of the Vehicle Exhaust Emissions Rule on vehicle prices Date: 14 July 2011 OC no.: OC00019 Attention: Hon Steven Joyce (Minister of Transport) Priority:
More informationAxiata Group Berhad (AXIATA) - Financial and Strategic SWOT Analysis Review
Axiata Group Berhad (AXIATA) - Financial and Strategic SWOT Analysis Review Axiata Group Berhad (AXIATA) - Financial and Strategic SWOT Analysis Review Sector Publishing Intelligence Limited (SPi) has
More informationROTARY VANE AIR COMPRESSORS: THE FUTURE IS NOW. Why are rotary vane compressors the leading solution for today s automotive service industry?
ROTARY VANE AIR COMPRESSORS: THE FUTURE IS NOW Why are rotary vane compressors the leading solution for today s automotive service industry? In the automotive service industry, compressed air is an absolute
More informationBiodiesel Analysis Utilizing Mini-Scan - Handheld Analyzer V.C. Gordon PhD, Bonanza Labs
Biodiesel Analysis Utilizing Mini-Scan - Handheld Analyzer V.C. Gordon PhD, Bonanza Labs Overview According to the National Biodiesel Board, biodiesel production in the United States reached 450 million
More informationCB - Chocolaterie de Bourgogne
Particulars About Your Organisation Organisation Name CB - Chocolaterie de Bourgogne Corporate Website Address http://www.chocolateriedebourgogne.com/ Primary Activity or Product Manufacturer Related Company(ies)
More informationFourth Grade. Multiplication Review. Slide 1 / 146 Slide 2 / 146. Slide 3 / 146. Slide 4 / 146. Slide 5 / 146. Slide 6 / 146
Slide 1 / 146 Slide 2 / 146 Fourth Grade Multiplication and Division Relationship 2015-11-23 www.njctl.org Multiplication Review Slide 3 / 146 Table of Contents Properties of Multiplication Factors Prime
More informationHow to Eliminate Trailer Sway
Even if there are no injuries, even a minor trailer accident results in thousands of dollars in damages, a lost vacation, and more lost time getting the trailer towed and repaired. Most new travel trailer
More informationFourth Grade. Slide 1 / 146. Slide 2 / 146. Slide 3 / 146. Multiplication and Division Relationship. Table of Contents. Multiplication Review
Slide 1 / 146 Slide 2 / 146 Fourth Grade Multiplication and Division Relationship 2015-11-23 www.njctl.org Table of Contents Slide 3 / 146 Click on a topic to go to that section. Multiplication Review
More informationBUSINESS AND CONSUMER SURVEY RESULTS
February 2018 BUSINESS AND CONSUMER SURVEY RESULTS 120 Graph 1: Economic sentiment indicator (s.a.) 110 100 90 80 70 long-term av erage (1990-2017) = 100 EA EU 60 1994 1996 1998 2000 2002 2004 2006 2008
More informationSolar powering a green future. Why SUNTECH is the smartest choice in solar
Solar powering a green future Why SUNTECH is the smartest choice in solar Save money. Save energy. Save the planet. Solar energy is a sustainable, renewable and affordable way to power your home and protect
More informationJOB OPENINGS AND LABOR TURNOVER APRIL 2016
For release 10:00 a.m. (EDT) Wednesday, June 8, Technical information: (202) 691-5870 JoltsInfo@bls.gov www.bls.gov/jlt Media contact: (202) 691-5902 PressOffice@bls.gov USDL-16-1149 JOB OPENINGS AND LABOR
More informationJOB OPENINGS AND LABOR TURNOVER DECEMBER 2017
For release 10:00 a.m. (EST) Tuesday, February 6, 2018 Technical information: (202) 691-5870 JoltsInfo@bls.gov www.bls.gov/jlt Media contact: (202) 691-5902 PressOffice@bls.gov USDL-18-0204 JOB OPENINGS
More informationTextile Per Capita Consumption
November 2017 Textile Per Capita Consumption 2005-2022 Part 1: Lower middle income countries CHF300.- Table of Contents Preface... 4 Sources... 5 Definitions... 6 Charts... 7 Executive Summary... 9 Country
More informationThe Continuing Evolution of Food Grade Lubricants
The Continuing Evolution of Food Grade Lubricants By Jim Girard, Vice President and Chief Marketing Officer LUBRIPLATE Lubricants Co. / Fiske Brothers Refining Co. Newark, New Jersey and Toledo, Ohio For
More informationBUSINESS INVESTING THROUGH FRANCHISE
BUSINESS INVESTING THROUGH FRANCHISE INTERNATIONAL BUSINESS THESIS SAMPLE This paper gives an overview of a franchise business, along with basic features, types, and franchise financing. Franchise is the
More informationRVI RISK OUTLOOK RVI G R O U P. Forecast at a Glance. Our Experience is Your Assurance
RVI G R O U P Our Experience is Your Assurance RVI RISK OUTLOOK Quarterly Analysis of Key Issues and Trends in Consumer Leasing December 2017 Forecast at a Glance Key economic indicators signal that the
More informationMattel Inc. BUY on MAT Price Target: $ Thesis Points: Key Statistics as of 11/21/15. Company Description: MAT
Mattel Inc. MAT Analyst: Sector: Kyle Ritchie Consumer Discretionary BUY on MAT Price Target: $30.71 Key Statistics as of 11/21/15 Market Price: Industry: Market Cap: 52-Week Range: 5 Year Beta: $24.54
More informationAMSTAT Global Business Aircraft Resale Market Update NBAA BACE 2017
AMSTAT Global Business Aircraft Resale Market Update NBAA BACE 217 1/4/217 AMSTAT will be exhibiting at NBAA BACE 217 Booth #N171 (US) 877 426 7828 / (Int l) 732 53 64 / sales@amstatcorp.com A Review by
More informationBackground. If It Ain t Broke CASE STUDY
Pratt & Whitney unlocks new capabilities and value by streamlining their infrastructure with an upgrade and consolidation from MCA v7 and SPM v9 to SPM v11 solution Pratt & Whitney When Pratt & Whitney
More informationVehicle Safety Risk Assessment Project Overview and Initial Results James Hurnall, Angus Draheim, Wayne Dale Queensland Transport
Vehicle Safety Risk Assessment Project Overview and Initial Results James Hurnall, Angus Draheim, Wayne Dale Queensland Transport ABSTRACT The goal of Queensland Transport s Vehicle Safety Risk Assessment
More informationExecutive Summary. Light-Duty Automotive Technology and Fuel Economy Trends: 1975 through EPA420-S and Air Quality July 2006
Office of Transportation EPA420-S-06-003 and Air Quality July 2006 Light-Duty Automotive Technology and Fuel Economy Trends: 1975 through 2006 Executive Summary EPA420-S-06-003 July 2006 Light-Duty Automotive
More informationVehicle Speeds in School Zones
Vehicle Speeds in School Zones THE POSTED SPEED LIMIT IN SCHOOL ZONES IS 20 MPH, AND VARIOUS TYPES OF SIGNS THAT INFORM DRIVERS OF THE SCHOOL-ZONE SPEED LIMIT ARE IN USE. THE STUDY DISCUSSED IN THIS FEATURE
More informationTHE ACCELERATION OF LIGHT VEHICLES
THE ACCELERATION OF LIGHT VEHICLES CJ BESTER AND GF GROBLER Department of Civil Engineering, University of Stellenbosch, Private Bag X1, MATIELAND 7602 Tel: 021 808 4377, Fax: 021 808 4440 Email: cjb4@sun.ac.za
More informationRegulatory Treatment Of Recoating Costs
Regulatory Treatment Of Recoating Costs Prepared for the INGAA Foundation, Inc., by: Brown, Williams, Scarbrough & Quinn, Inc. 815 Connecticut Ave., N.W. Suite 750 Washington, DC 20006 F-9302 Copyright
More information1 a) Not complying with the requirements of the Health and Safety at Work Act can have serious consequences.
Qualification title: Level 2 Technical Certificate in Automotive (4292-21) Exam title: Externally set, externally marked Version: Past Paper Base mark: 65 1 a) Not complying with the requirements of the
More informationBUSINESS AND CONSUMER SURVEY RESULTS
December 2018 BUSINESS AND CONSUMER SURVEY RESULTS **** Important notice: Starting with the next flash publication on 23 January 2019, the composition of the consumer confidence indicator will be revised.
More informationRVI RISK OUTLOOK RVI G R O U P. Forecast at a Glance. Our Experience is Your Assurance
RVI G R O U P Our Experience is Your Assurance RVI RISK OUTLOOK Quarterly Analysis of Key Issues and Trends in Consumer Leasing September 2017 Forecast at a Glance Key economic indicators signal that the
More informationCopyright 2016 Used Car University, all rights reserved
Sourcing Winning SF Inventory 5 Keys to Success Shawn Foster 5 Keys to Success 1. Understand your data 2. Determine your needs 3. Know your lenders 4. Develop a strategy 5. Use discipline Copyright 2016
More informationScholastic s Early Childhood Program correlated to the Kentucky Primary English/Language Arts Standards
Primary English/Language Arts Reading (1.2) Arts and Humanities (2.24, 2.25) Students develop abilities to apply appropriate reading strategies to make sense of a variety of print and nonprint texts (literary,
More informationA hosting solution that is flexible and fitted
A hosting solution that is flexible and fitted Case Study Vodafone Cloud and Hosting delivers flexibility and reliability to wholesale company Keller & Kalmbach. The future is exciting. The cloud that
More informationAttached are suggested wording revisions to the proposed NASAA FPR Commentary.
Attached are suggested wording revisions to the proposed NASAA FPR Commentary. 19.7 I urge the NASAA Franchise Project Group to change the answer to Question 19.7 from "No" to "Yes." Even if a franchisor
More informationCriticism of Romney s Campaign Grows; Six in 10 Rate His Efforts Negatively
ABC NEWS/WASHINGTON POST POLL: Favorability #43 EMBARGOED FOR RELEASE AFTER 6 a.m. Wednesday, Sept. 26, 2012 Criticism of Romney s Campaign Grows; Six in 10 Rate His Efforts Negatively Public criticism
More informationLazydays Holdings, Inc. Reports Second Quarter 2018 Financial Results
News Contact: +1 (813) 204-4099 investors@lazydays.com Lazydays Holdings, Inc. Reports Second Quarter 2018 Financial Results Tampa, FL (August 9, 2018) Lazydays Holdings, Inc. ( Lazydays )(NasdaqCM: LAZY)
More informationOn track. Investor and Analyst Presentation On the Occasion of the Release of the Preliminary Figures for 9M 2011 Hanover, 18 October 2011
On track. Investor and Analyst Presentation On the Occasion of the Release of the Preliminary Figures for 9M 2011 Agenda Delticom at a Glance Business Model Profit & Loss Balance Sheet Outlook 2 Agenda
More informationImaginary Economics of water bottling: big is better
Fiji bottled water industry: tiny family company (Fuji Chill) wishes to enter a market dominated by giant Fuji Water (several firms selling bottled water at the momentone just purifying tap water); but
More informationState of the Industry: U.S. Classes 3-8 Used Trucks
Americas Commercial Transportation Research Co., LLC www.actresearch.net State of the Industry: U.S. Classes 3-8 Used Trucks November 212 Data Published December 24, 212 State of the Industry: U.S. Classes
More informationWeston Market Report
Weston ket Report First Quarter 219 219 Connecticut Hamptons New York City New Jersey Hudson Valley 379 POST ROAD EAST, WESTPORT, CT 688 (23) 221-666 HALSTEAD CONNECTICUT, LLC Weston Overview 219 218 %
More informationBendPak 2-Post Car Lift vs. Value Brands
BendPak 2-Post Car Lift vs. Value Brands PRODUCT COMPARISON BendPak XPR-10A* vs. Tuxedo TP9KAC* *Design features and specifications are subject to change. Please consult factories for updates. TUXEDO is
More informationSummary Statistics. Closed Sales. Paid in Cash. Median Sale Price. Average Sale Price. Dollar Volume. Median Percent of Original List Price Received
ly Market Detail - May 218 Summary Statistics May 218 May 217 Paid in Cash 1,667 1,647 1.2% 888 943-5.8% $168, $159, 5.7% Average Sale Price Dollar Volume $231,288 $21,944 9.6% $385.6 Million $347.4 Million
More informationMonthly Market Detail - June 2018 Single Family Homes Miami-Dade County
ly Market Detail - June 218 Summary Statistics June 218 June 217 Paid in Cash 1,335 1,346 -.8% 286 33-5.6% $355, $335, 6.% Average Sale Price Dollar Volume $598,494 $57,82 18.% $799. Million $682.5 Million
More informationMonthly Market Detail - June 2018 Townhouses and Condos Miami-Dade County
ly Market Detail - June 218 Summary Statistics June 218 June 217 Paid in Cash 1,257 1,323-5.% 657 682-3.7% $24, $235, 2.1% Average Sale Price Dollar Volume $439,546 $384,319 14.4% $552.5 Million $58.5
More informationBLUE BOOKJUNE. Market Report. Automotive Insights from Kelley Blue Book. Joanna Pinkham Senior Public Relations Manager
BLUE BOOKJUNE 213 Market Report Automotive Insights from Kelley Blue Book NEW CAR EDITION Kelley Blue Book Public Relations Contacts: Chintan Talati Senior Director, Public Relations 949.267.4855 ctalati@kbb.com
More informationConsumer Attitude Survey
Consumer Attitude Survey Spring 2018 Consumer Attitude Survey Spring 2018 2 Consumer Attitude Survey Spring 2018 Contents Introduction.. 4 Regional breakdown...... 5 Consumer views General perceptions..
More informationEstimating Tax Liability Using Stepped Up Basis
Estimating Tax Liability Using Stepped Up Basis Terry Griffin (twgriffin@ksu.edu) and Tiffany Lashmet (Tiffany.DowellLashmet@ag.tamu.edu) Kansas State University Department of Agricultural Economics November
More informationME101, Final Examination, sample. Closed Book Examination (with the exception of one 3 x5 cards of handwritten notes, both sides, allowed)
, sample Name Closed Book Examination (with the exception of one 3 x5 cards of handwritten notes, both sides, allowed) Only calculators allowed for calculations: Hewlett Packard: The HP 33s and HP 35s
More informationMECHANICS COURSE SUMMARIES
MECHANICS COURSE SUMMARIES INTRODUCTORY MEC1010: MODES & MECHANISMS Students research, design, build and test a model of a transportation vehicle, using a simple power source, common materials and tools.
More informationMargarine Thibault inc.
Particulars About Your Organisation Organisation Name Corporate Website Address nuvel.ca Primary Activity or Product Manufacturer Related Company(ies) Membership Membership Number Membership Category Membership
More informationToro Commercial Dealer 2012 Program Table of Contents
Toro Commercial Dealer 2012 Program Table of Contents Description Page # Commercial Dealer Benefits 2 Qualification Requirements 2 Commercial Fleet Program & Claim Form 3-4 Mini Fleet Program & Claim Form
More informationParticipant Manual DRE Pre School - Session 3 Psychophysical Tests. Notes: Notes: HS 172A R5/13 1 of 17. Session 3. Learning Objectives
Participant Manual DRE Pre School - Session 3 Psychophysical Tests 90 Minutes Learning Objectives Administer the four divided attention tests used in the drug influence evaluation process Document the
More informationPOLARIS INDUSTRIES INC. ANALYST & INVESTOR MEETING. Motorcycles. Steve Menneto, VP Motorcycles July 30, 2013
POLARIS INDUSTRIES INC. ANALYST & INVESTOR MEETING Motorcycles Steve Menneto, VP Motorcycles July 30, 2013 N.A. 1400+cc Industry 2013 Industry Retail Industry Retail History Touring Cruiser Bagger 2009
More informationBUSINESS AND CONSUMER SURVEY RESULTS. Euro Area (EA) February 2014: Economic Sentiment broadly unchanged in the euro area and the EU
February 2014 BUSINESS AND CONSUMER SURVEY RESULTS 120 Graph 1: Economic sentiment indicator (s.a.) 110 100 90 80 Euro Area (EA) 70 60 long-term av erage (1990-2013) = 100 European Union (EU) 1990 1991
More informationPT Bank Bukopin Tbk - Strategy, SWOT and Corporate Finance Report
PT Bank Bukopin Tbk - Strategy, SWOT and Corporate Finance Report PT Bank Bukopin Tbk - Strategy, SWOT and Corporate Finance Report The Business Research Store is run by Sector Publishing Intelligence
More informationBUILDING A ROBUST INDUSTRY INDEX BASED ON LONGITUDINAL DATA
CASE STUDY BUILDING A ROBUST INDUSTRY INDEX BASED ON LONGITUDINAL DATA Hanover built a first of its kind index to diagnose the health, trends, and hidden opportunities for the fastgrowing auto care industry.
More information2010 Motorcycle Risk Study Update
2010 Motorcycle Risk Study Update Introduction This report provides an update to the Motorcycle Risk Study from AI.16 of the 2005 Rate Application. The original study was in response to Public Utilities
More informationEUROPEAN COMMISSION DIRECTORATE-GENERAL FOR ECONOMIC AND FINANCIAL AFFAIRS BUSINESS AND CONSUMER SURVEY RESULTS. August 2011
EUROPEAN COMMISSION DIRECTORATE-GENERAL FOR ECONOMIC AND FINANCIAL AFFAIRS BUSINESS AND CONSUMER SURVEY RESULTS August 2011 Upcoming releases of Business and Consumer Survey results Flash CCI: 22 September,
More informationPresentation Outline
Florida Statewide Survey Renewable Energy Florida TaxWatch November 2 Presentation Outline 1. Methodology 2. Major Findings 3. Opinion of Energy Sources 4. Increasing Renewable Energy Production 5. Importance
More informationARKANSAS DEPARTMENT OF EDUCATION MATHEMATICS ADOPTION. Common Core State Standards Correlation. and
ARKANSAS DEPARTMENT OF EDUCATION MATHEMATICS ADOPTION 2012 s Correlation and s Comparison with Expectations Correlation ARKANSAS DEPARTMENT OF EDUCATION MATHEMATICS ADOPTION Two Number, Data and Space
More informationDRIVER QUALIFICATION FILE CHECKLIST
DRIVER QUALIFICATION FILE CHECKLIST 1. DRIVER APPLICATION FOR EMPLOYMENT 391.21 2. INQUIRY TO PREVIOUS EMPLOYERS (3 YEARS) 391.23(a)(2) & (c) 3. INQUIRY TO STATE AGENCIES 391.23(a)(1) & (b) 4. MEDICAL
More informationBright Ideas for Custom Power Solutions
Bright Ideas for Custom Power Solutions TM Bright Ideas for Custom Power Solutions TM D&P Custom Lights & Wiring Systems, Inc. has been a world leader in the Commercial Lighting and Fixtures industry since
More informationINSERO QUARTERLY, Q4 2014
INSERO QUARTERLY, Q4 20 - Nordic electric vehicle market overview with the latest sales figures, infrastructure overview and the main market tendencies FEBRUARY 2015 INSERO QUARTERLY, Q4 20 3 INTRODUCTION
More informationPARKING OCCUPANCY IN WINDSOR CENTER
PARKING OCCUPANCY IN WINDSOR CENTER TOWN OF WINDSOR, CONNECTICUT REPORT JUNE 2017 CONTENTS Background... 3 Other Relevant Data... 3 Parking Survey Design... 6 Parking Supply Inventory... 6 Parking Demand
More informationHONDA CANADA FINANCE INC. AUTO FINANCE FORUM February 13, 2014 First Canadian Place, 68 th Floor, York Room Honda Fit
HONDA CANADA FINANCE INC. AUTO FINANCE FORUM February 13, 2014 First Canadian Place, 68 th Floor, York Room 2015 Honda Fit 1 Caution with Respect to Forward-Looking Statements: These slides contain forward-looking
More informationFigure 1 Unleaded Gasoline Prices
Policy Issues Just How Costly Is Gas? Summer 24 Introduction. Across the nation, the price at the pump has reached record highs. From unleaded to premium grade, prices have broken the two-dollar-per-gallon
More information