Thursday, December 5, 2019

Netscape Initial Public Offering free essay sample

Netscape Communications Corporation, founded in April 1994, provided a comprehensive line of client, server, and integrated applications software for communications and commerce on the Internet and private Internet Protocols networks1. Also designed with enhanced security code to provide secure financial transactions and transfer confidential information over the Internet and private IP networks. The board faced a pricing dilemma within the context of an extremely unpredictable industry.Their responsibility was to determine the appropriateness of the proposed increase in price after balancing the potential risks and rewards that might accompany such a move1. Netscape has been so successful due to a few factors. For one, Netscape has stellar management making important business decisions. Also, they have proven to be successful in securing a steady flow of capital injections from various private investors.By setting a new business standard between 1994 and 1995, Netscape was able to dominate in overtaking Mosaic, the largest market share holder of that time. We will write a custom essay sample on Netscape Initial Public Offering or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page However, the threat of its competition has become increasingly worrisome and their position is rather risky. Thus, Netscape must consider going public and generate capital in order to maintain a competitive advantage and continue to capture market share. Netscape needs to seriously consider undertaking an IPO because it has reached a point in its development that demands substantial injection of capital.Although going public will result in a decrease in the control the original owners have in Netscape, issuing shares on the open market will allow the organization to generate enormous capital while avoiding an increase in its debt obligations. Although Netscape has been privately held and can attract private through private placements, these investors hold illiquid shares because of the difficulty to find a buyer for their shares. After going public, these shares will then become very liquid and thus carries a major benefit to current shareholders. A major factor in considering this IPO is the way in which it is done. The underwriters that purchase the initial shares of Netscape will carry substantially more risk than Netscape. The underwriters participating will guarantee Netscape the proceeds from each share at the offer price decided upon. At this point, Netscape will have been issued the capital injection and the responsibility of selling these new shares to the public will fall in the hands of the underwriter(s). On the other hand, Netscape carries some risk in deciding to undergo an IPO. Once public, the ownership of Netscape will become diluted and the value of the company will more than ever, be decided upon by market conditions.Netscape must decide on the optimal offer price, because a higher price offers the greatest amount of capital raised, but a price too high will have much difficulty being maintained in the market. Furthermore, as a public company, Netscape will put itself in the spotlight and will remain there for as long as their stock is traded on the public market. A fundamental difference between a private company and a public company is that a private company can legally withhold financial statements from the public, whereas a public company gives up this luxury.Netscape’s offer price was thought to be $14 based on the initial analysis, but the underwriters are currently suggesting an offer price of $28. There are two things to consider when arguing confidence around the offer price suggested by the underwriters. For one, too low of an offer price results in high demand for the shares, thus the institutions involved will have a negative opportunity cost in participating in the deal. Secondly, too high of an offer price results in an inability to sell the shares at the agreed-to offer price, thus the institution will result in a loss when the syndicate is broken.Although the company has yet to post a profit, there is still substantial interest in Netscape’s IPO. Their financial position, coupled with the demand for their IPO, sh ows that the equity market in which Netscape will enter is fueled by speculation as much as it is by analysis. As a new company, Netscape is not expected to post a profit, as few companies do in the first few years of their existence. However, their young, rapid growth, and intense and effectively competitive approach justifies their IPO offer price of $28.A crucial piece of information to consider is that the underwriters are suggesting the price increase, all while knowing they borne the majority of the risk if the IPO is a bust. Underwriters work on IPOs around the clock, and taking into consideration their expertise as well as Netscape’s strong management and dominant market presence, I strongly suggest Netscape goes public at the higher offer price of $28 per share. Moreover, the news of the change in offer price may stir even more positive speculation around Netscape and improve its performance in the equity market.

Thursday, November 28, 2019

Arthur Miller essays

Arthur Miller essays An Analysis of Arthur Miller's Death of a Salesman and The Price When people accept an ideal to live by it can be a glorious and noble thing unless they become so obsessed wi the the ideal that it becomes a yolk and they are unable to realize their dream.. This is especially true for two characters in Arthur Miller's plays Death of a Salesman and The Price. In these two plays Miller portays two lower-middle class men , Willie Loman and Victor Franz, respectivelly, who each live by an ideal that ultimately is self-defeating. Willie lived to pursue the American dream rather than living the American dream and Victor lived to serve and be decent rather than living a noble and decent life. They pursed their ideal rather than living it and thus they are unable to succeed. Willie Loman, in Death of a Salesman,, has lived his life in pursuit of the American dream. Traditionally the American dream meant oppurtunity and freedom for all, and Willie believed that. However, hard work could not ea rn him everything that he wanted or thoght he deserved. Willy judged himsel and those arround him by theit material accumulation, as is demanded by capitalism and the protestant work ethic. The ethic demands accumulation and work as signs of favor in the eyes of god. Thus in order to please god and himself he had to accumulate wealth and objects. The consumer oriented society in which Willy lives will not allow him to live the American Dream. Willy is fascinated by accumulating things. His desire fior goods makes him want objects that he neither needed nor could afford. Willy thinks that he needs to buy his wife a new refrigerator and new stockings even though she is content with what they have. As he tries to live the American dream he venerates those who have been successful at doing so, l ike Thomas Edison, B.F. Goodrich, and Ben, his succesful brother. Furetheremore he punished those who did not work towards that ideal or accomplish it ,such as Biff, ...

Sunday, November 24, 2019

buy custom The Event Management Business essay

buy custom The Event Management Business essay As companies, businesses and corporations continue to grow in size and spread in different locations, the need to hold meetings and conferences regularly has become a growing challenge. This is not just due to lack of time available for such events, but also due to huge geographical distances between participants as well as the cost of bringing the parties together (Jude, 2000). This essay will explore the possible future of large face-to-face meetings in view of existing virtue meeting technologies with the cost factor as the main item. Virtual Meetings Virtue meetings are events that successfully bring participants together without having to be in the same room. Virtue meetings can take many forms, like voice conferencing (call confernces), video conferencing, internet chat rooms (where participants all have access to internet connected computers and sufficient keyboard skills) (Turban, 2008). Software developers have progressively increased applications usable for virtual events, a famous example being the Skype. Others like the Second life, WebEx, and GoToMeeting.com enables low end users to access virtual services. As the costs of physical meetings continue to increase, companies across the globe have found it easier and convenient in adapting to virtue meetings. According to a study done in 2010 by the AEBT (American Express Business Travel), about 76 percent of the organisations now prefer virtual meetings than the physical ones (Jude, 2000). However, virtual meetings are not without their shortcomings, like content may not be delivered as intended in a virtual interface,, or can be misinteerpreted. There is also an evident pensiveness due to lack of control factors, which would be there in a closed location event. In goal oriented, performance driven meetings however, it can be deduced that parties are unlikely to become pensive to avoid reduced productivity. Conclusion As one compares the pros and cons of virtual technology, it seems safe to expect that large face-to-face meetings will progressively be phased out by virtual ones, more notably in the technology endowed markets and large corporations with broadband options than in the low end technology challenged regions (Turban, 2008). Generally, Information Technology will continue to get better, thus making virtual meetings more prevalent as compared to other forms of meetings, such as face-to-face among others. Buy custom The Event Management Business essay

Thursday, November 21, 2019

Feature pegged to election 2012 Essay Example | Topics and Well Written Essays - 750 words

Feature pegged to election 2012 - Essay Example In Florida, early voting is different from absentee balloting since early voting occurs at multiple locations while utilizing similar machines like those applied during Election Day. On the other hand, Florida absentee voters need to move to the administrator of election office, before filling out a mail-in ballot (Coleman, 4). Candidly, absentee votes count as it permits voters, in addition to those who are not able to get to the polling stations due to health issues, as well as the elderly the chance to vote. Furthermore, the existing system offers every support possible, specifically, the system offers a lot of time to register for the ballot online, in addition to sending emails every step of the way for proper verification. Moreover, it has been made much easier for the voter to research the candidates and their issues, with the actual ballot in front of them. Mark Stillwell, who is looking forward to voting in November, believes that the basic absentee voting system is okay, bu t it can be superior if there is an audit trail, which could verify that individual votes are counted. For instance, several Federal laws still guide the department of defense officials, in ascertaining military personnel serving beyond state and overseas when it comes to requesting, acquiring, and casting their absentee ballots. Certainly, this is an obvious disadvantage that suppresses military votes to be decided by only senior civilian officials in Pentagon. Whilst the pros of absentee voting are rather obvious, the cons are fairly ambiguous. The reason being that, absentee ballots, are pegged on decisions from local election officials, who interpret them using their individual state laws (Coleman, 4). Thus, this creates confusion as most of absentee ballots are often discarded due to technicalities. For instance, Erica Stillwell interviewed for this segment, says that â€Å"my ballot came with a "privacy sleeve" that I had to fill out with my personal information so they knew it was my ballot. It's supposed to be separated from my ballot to keep it all confidential, but I think it's a system that could be easily abuse†. Thus, this has caused her to be a little bit unease regarding the privacy of the whole process. Some of the absentee voters do not feel totally secure that their votes will be counted. Erica Stillwell argues in support of this conception by providing her own experience, â€Å"I also received three identical emails telling me that my ballot had been received, which makes me even more nervous about the validity of the system†. Despite of this indecision, she says â€Å"I honestly actually missed all the ceremony built up around Election Day too... I hate standing in line, but I always did feel a certain civic pride going to the polls and coming out with my "I voted" sticker†. Erica Stillwell fears are by no means unreal, since Florida overseas ballot voting statutes gives room for candidates’ campaigners to trove, incoming ballots via mail from the state residing abroad. They are also able to mount legal plus public relations battle to influence canvassing boards within their strongholds, so as to waive Florida election regulations in counting the overseas absentee ballots. There are numerous reasons that cause most people to distrust Florida absentee voting process, especially given that most are complaining that they do not feel absolutely convinced that their votes