California Pizza Kitchen Chris Schroeder FI 602: Financial Strategy and Valuation Fang Chen September 21‚ 2012 Introduction In July of 2007‚ California Pizza Kitchen (CPK)‚ a casual dining pizzeria started in California by co-owners Rick Rosenfield and Larry Flax‚ was faced with the decision to invest in a stock repurchase program. Led by Chief Financial Officer Susan Collyns‚ the financial team of CPK was reviewing the preliminary results for the second quarter to determine if the stock
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Autism in CaliforniaThere ’s autism in California too? Yep. And if you haven ’t discovered IHSS or SSIit ’s time to check that out. California has an early intervention program for children with disabilities ages birth to 3. Actually‚ in reality‚ it serves ages birth to 2.99. It ’s called Early Start. This program aligns with I.D.E.A. Part C Regulations. It ’s a federal program but individual states can opt out. Fortunately‚ the Golden State hasn ’t opted out‚ but the current economic crisis may
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California DMV In 1987‚ the California Department of Motor Vehicles (DMV) embarked on a major project to revitalize their driver’s license and registration application process. DMV’s project was supposed to deliver everything that the department was looking for: ability to track of the state’s 31 million drivers’ licenses and 38 million vehicle registrations. By 1993‚ after $45 million dollars had already been spent‚ the project was canceled. The San Francisco Chronicle described the situation as
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if you didn’t have enough water to do your daily activities. California is in a humongous drought. The egocentric farmers are using water for the food‚ but the people need water for themselves. Like taking showers‚ and water for washing their clothes. There isn’t enough water for the people to use the aquifer for their needs. The citizens go months or weeks without showering. The people even have to use bird baths to shower. California should control the aquifer use. Moreover‚ since the farmers
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Memo To: California Choppers Advisory Board From: Date: Re: Operations Review The California Chopper’s financial position is in fairly good standing. Although‚ there are some concerns in certain areas‚ which will be discussed below. Attached to the memo is an excel spreadsheet that can be used for referencing. Liquidity California Choppers (CC) appears to be acceptable in terms of their liquidity. Their current ratio seems to be right around the industry average for the past
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In California‚ they’re many native grasses as well as invasive grasses. Native and Invasive species play a big role in our ecosystem. Native species make it so we don’t have to use as many fertilizers‚ use less water‚ keep the air around you cleaner‚ provide shelter and food for wildlife etc. Invasive grass species are bad because for one they are obviously not native to the area and can colonize habitats and exclude the native plants. Did you know a Dandelion is an invasive species? Well it is it
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finding solitude in that environment and of the relief that comes from receiving long awaited rain in a drought stricken state The state of California‚ as many readers will know‚ has been shriveling under the effects of years long drought. This past summer‚ it was so bad‚ that rather than hiking in and generally enjoying the famous golden hills of California‚ those hills took on a grayish tint‚ an ever-present reminder of the parched conditions and‚ what looked like‚ the suffering that most living
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Crime in California 2012 Kamala D. Harris‚ attorney General California Department of JustiCe Crime Statistics in California Reflect Incremental Change Year Over Year The number of crimes‚ and rate per 100‚000 population‚ remains at historic lows Crime in California 2012 presents an overview of the criminal justice system in California. Current year statistics are presented for reported crimes‚ arrests‚ dispositions of adult felony arrests‚ adult probation‚ criminal justice personnel‚
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KP Research and innovation center such as the university of California (now Department of Friut studies) at Davis for fighting diseases and introducing new technologies. State run universities‚ like U.C Berkeley‚ UC Riverside‚ Fresno State Distributors like (SWS) because of its consolidation Supermarkets like Walmart because of its consolidation KA 1. 2. VP Grape growing winemaking luxury‚ ultra premium‚ super premium‚ popular premium
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Preparatory Questions for California Pizza Kitchen 1. In what ways can Susan Collins facilitate the cusses of CPK? 2. Using the scenarios in case Exhibit 9‚ what roles does leverage play in affecting the return on equity (ROE) for CPK? What about the cost of capital? a. Leverage increases Beta for the firm since debt to equity ratio increases from unlevered beta. We use 10 year Treasury bond as our risk free rate and for market risk premium we use current prime lending rate for June 2007
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