Grand Metropolitan

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  • Diageo Case Study

    1. What do you think about the capital structure policies Diageo has pursued in the past. Do they make sense? How does it compare to Diageo’s competitors’ policies? Which competitors would make for the best comparison? (40%) Diageo was formed from the merger of Grand Metropolitan plc and Guinness plc. Before the merge, both companies used little debt (based on the book D/E ratio and net debt to total capital in the table below) to finance themselves which helped them gain and maintain high credit rating (A and AA respectively). After the merge, Diageo wanted to take the same path by maintaining the interest coverage between 5 and 8 (through actions such as new debt issuance, share repurchase programs shown in figure 1) and having EBITDA/Total Debt between 30 and 35 % to avoid potential downgrade. Its market gearing is 25%. Furthermore, its debt's pay-back period (Debt/EBITDA) shows its ability to pay off its incurred debt in a relatively short period of time. Coupled with the high multiple of cash available for interest payments over the years (EBITDA/Interest expense), the probability of a financial distress is low. We know market gearing is equal to debt over enterprise value. Using data from exhibit 4, we find debt level equal to $6.7 billion. Diageo can take on more debt if needed and benefit from the advantages of a high credit rating. This conservative financial policy allows Diageo to get a rating of A+ with the possibility to raise debt readily with lower promise…

    Words: 1113 - Pages: 5
  • Analysis: The Great Temple Of Aten

    Amarna is a city that is separated. The separation occurs within the title of nobility or one of a commoner. This was the urban plan, or the central idea of the design of the city. Since this was a capital city in the Egyptian empire, the nobles cannot be living at the same level or area as the people they rule over. That would be a disgrace! The city designers too this ideal and made all their designs for the city around that image. When any large metropolitan area is created, the organization…

    Words: 1455 - Pages: 6
  • Conflicts In Harper Lee's Twelve Angry Men And To Kill A Mockingbird

    In most cases, people have the freedom of choice in their lives. and there are bountiful different obstacles that people have to overcome. In both Reginald Rose’s, Twelve Angry Men and Harper Lee’s, To Kill A Mockingbird, there were man vs society conflicts that brought many people to their breaking points. Both books had a strong emphasis on discrimination and prejudice. In Twelve Angry Men the jury was against the defendant for racist reasons just like the town was against Tom Robinson in the…

    Words: 1195 - Pages: 5
  • My Observation Of School

    Part I - The Community and School Culture My school of choice to do my observation is Lorenzo de Zavala Elementary Science Environmental Academy located in Grand Prairie south of Interstate 20. Zavala sets on a land adjusted to Jackson Middle School. The school is directly impacted by residential houses and an open field. In the back of Zavala there is a garden and a greenhouse. Next to the garden there is a gated play area that has a basketball court for the public and remains open daily…

    Words: 1883 - Pages: 8
  • Sports Car The Vietnam Case Study Of Maserati Ghibli Vietnam

    Maserati Ghibli Vietnam (Review) Highlights: Maserati has been serving worldwide through the cars it produces in various segments like sports, luxury, SUV (Grand Tourer, Saloon and Sports Car) etc. The mission of this brand has always been to build ultra-luxury cars with a chunk of Italian style. Ghibli debuted for the first time in the year 1966 and was tagged on the 9th position on the list of Top Sports Cars of the 1960s, by American magazine 'Sports Car International '. With a glorious…

    Words: 916 - Pages: 4
  • The Awakening Critical Analysis

    Kate Chopin, in her short story The Awakening, vividly describes the timeline of Edna from her immediate arrival in New Orleans, to the beginnings of her culture shock and awakening, to her tragic suicide. Upon her arrival to Grand Isle Resort in New Orleans she meets Robert and Madame Ratignolle, both of whom take her breath away, or as the book puts it “left her stunned in amazement”. Compared to her life growing up in the slower small towns of Kentucky, the upbeat large city of New Orleans…

    Words: 809 - Pages: 4
  • Personal Narrative: The Sacrificial Love Of Jesus Christ

    writing. I thrived in Art, Art History, Ceramics, and all the required English literature courses. Algebra was the antithesis of these courses for me. I struggled in both Algebra courses, having to take one twice in order to pass. My favorite teacher and mentor was my Assistant JROTC Instructor, SMSgt Henley. He was an honorable man, an encourager, and a great example of everything I hoped to be as an educator. My desire to become a teacher stemmed from my love of literature and my desire…

    Words: 822 - Pages: 4
  • Technology And Police Brutality

    With the recent decisions to refrain from bringing charges, many have begun to question the whole grand jury system. This situation has caused certain “leaders in New York [to call] for special prosecutors, or the attorney general, to investigate all fatal encounters” (McKinley & Baker, n.d.). Legal experts have said that because the prosecutors select a “special grand jury to investigate police-related deaths, they insulate themselves from the final decision, while appearing to fulfill the…

    Words: 1297 - Pages: 5
  • Personal Essay: Why Tennis Is The Best Sport

    Playing a sport can be one of the most entertaining pastimes for people. Sports can also get you scholarships in college if you play your cards right. Tennis can be a fun past time for anyone who wants to try a new sport. Tennis is the best sport that I have ever played. Tennis has so many reasons for being such an exhilarating, fun and social sport. These reasons are exercising, creating friends, playing on a marvelous and warm day, being competitive while having fun, and being able to play…

    Words: 1076 - Pages: 5
  • Origin Of Tennis

    Her career has spanned two and a half decades and she first gained the number one ranking in the world in 2002 and later regained the same ranking on six other occasions. She holds more than thirty-two major titles. Of these titles, seventeen are in singles tournaments, thirteen are in women’s doubles tournaments and two are in mixed doubles tournaments. In 2002-2003, she was victorious over all the four coveted Grand Slam tournaments, a rare and exceptional feat which as later tagged by the…

    Words: 1054 - Pages: 5
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