accept Nestlé’s offer of $61 million for its holdings of Eskimo Pie. The crux of the issue is whether or not the projected income from a proposed Initial Public Offering (“IPO”) by Wheat First Securities (“Wheat First”) is reasonable and will actually result in proceeds between $61 and $68 million to Reynolds‚ the Reynolds family and the Reynolds foundation‚ as projected. To get at this question‚ this paper will seek to value Eskimo Pie as a stand-alone company‚ if the IPO option is selected.
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Finan Eskimo Pie Corporation (dollars in thousands except per share data) |1987 |1988 |1989 |1990 | |Net Sales |$30‚769 |$36‚695 |$46‚709 |$47‚198 | |Cost of Goods Sold |21‚650 |25‚635 |31‚957 |31‚780 | |Advertising and Sales Promotion |4‚742 |4‚241 |5‚030 |5‚130 | |General & Administrative |6‚068 |5‚403 |6‚394 |7‚063 | |Operating Income (Loss) |-1‚691 |1‚416 |3‚328 |3‚225 | |Interest Income |308 |550 |801 |1‚004 | |Interest Expense |-88 |-107 |-88 |-67 | |Other Income (Expense) net
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overstatement figures. The second method we used to analyze the firm’s value was the Comparable Companies Method. As shown in Table 1‚ we used the historical figures as of 1990 and Goldmans Sach’s Projections. With an average of 22.8 times the value‚ Eskimo Pie has a value of $57 million at the fiscal year end of 1990. The Comparable Companies Method is more accurate then the Discounted Cash Flow Method because assumptions are not being used and the company’s value is compared to industry values. The
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In Richard Nelson’s "Understanding Eskimo Science" a man‚ Nelson‚ traveled below the Arctic Circle in the boreal forest of interior Alaska were he lived‚ studied and interacted with a few native Eskimos groups during the mid-1960’s. Throughout the article Nelson provides an abundance of interesting and relevant information about Eskimo survival coming about through the understanding of one’s environment. Nelson’s best argument is the simple fact that these people have managed
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didn’t know what a spreadsheet was‚ etc. So I started at: http://en.wikipedia.org/wiki/Spreadsheet. I read that and got a good base of spreadsheets and the history. First of all‚ Microsoft Excel is the industry standard in spreadsheets (history on spreadsheets can be accessed at the above website address). With Excel‚ you can create a shared workbook and place it on a network location where several people can edit‚ change‚ and work on the contents of a workbook‚ I discovered. Therefore‚ if the people
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Getting Started in Excel Many of the editing tools that you use in Excel are similar to Word and PowerPoint You will need to become familiar with a few new things for Excel: Rows‚ Columns‚ Various Formulas‚ and Charts just to name a few When you see a reference such as A7‚ A is the column and 7 is the row‚ this will give you the particular cell that is being referenced. You will learn that you can click or enter in information when it comes to cells and formulas. Everyone will have their own
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Outline for Informative Speech Title: Eskimos Speaker/Name: John Rendon General Purpose: To inform Specific Purpose: To inform my audience of the Eskimo family‚ hand crafted tools and modernization to date. Thesis Statement: Eskimos are not a lonely group of people hidden from the world‚ they are a dying breed of independent survivalist while we depend on technology every second of every day. Introduction Attention getter: Think of the last time you were in a weather black out. What did you
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Ethnographic Critique of Netsilik Eskimo by Asen Balikci The book did a decent job of explaining the general environment the Netsilik would be in like in the winter they would be typically in a frozen wasteland living igloos or if there was not enough snow they would live in ice houses if there was not enough snow by taking the ice from the sea. During the summer‚ they would live farther south in smaller camps in more temporary tents. The Netsilik’s subsistence was primarily nomadic‚ hunting gathering
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The Eskimo People Eskimos are Indigenous peoples who have traditionally inhabited the circumpolar region from eastern Siberia‚ across Alaska ‚ Canada‚ and Greenland. There are two main groups that are referred to as Eskimo: Yupik and Inuit. A third group‚ the Aleut‚ is related. The Yupik language dialects and cultures in Alaska and eastern Siberia have evolved in place beginning with the original Eskimo culture that developed in Alaska. The earliest known Eskimo cultures were Pre-Dorset Technology
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Most people if they saw the two cultures baka and eskimos you wouldn’t think that they are in any way alike‚ but if you really think about it they are more alike than they are different. First of all they both are hunter gatherers‚ they get there food in the same ways. Second of all they learn in the same ways‚ and thirdly the way that they build their shelters are very similar. Pretty much all the cultures that live outdoors and only live off what other people have told them or what their culture
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