summary – Enron Corporation’s Weather Derivatives Steve Haik‚ Dan Sleker and Bas van Bellegem – March 2003 Background In October Mary Watts‚ CFO of Pacific Northwest Electric (PNW) reviewed the forward plan for PNW’s 200-2001 season. PNW’s has been experiencing nearly no EPS growth since 1995 due to deregulation and warmer-than-average winter climate. The stock price had suffered accordingly‚ but there maybe a way to hedge the weather risk via a new “weather derivative” being proposed by Enron’s Mike
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Accounting for Derivatives FAS 133 (Financial Accounting Standards Board Statement No. 133‚ Accounting for Derivative Instruments and Hedging Activities) -------------------------------------------------------------------------------- Summary This Statement establishes accounting and reporting standards for derivative instruments‚ including certain derivative instruments embedded in other contracts‚ (collectively referred to as derivatives) and for hedging activities. It requires
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For Internal Use Only Team 8 Executive Summary Six Flags has had great success over a number of years through providing a one-stop entertainment destination complete with thrilling roller coaster rides and an exciting atmosphere. In recent years‚ however‚ Six Flags has been struggling and is now in dire need of a boost to help regain its success in the Theme park industry. We focused our secondary research on past and current articles on Six Flags as well as the theme park industry as a whole
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results of an exploratory study of six-sigma‚ suggest that the development of knowledge and learning communities is instrumental to sustaining six-sigma initiatives. Case studies highlight particular aspects of implementation and deployment efforts. The work presented in this report is to capture the current state of Six Sigma as well as to document the current practices of Six Sigma. Six key findings have been established. These include the interpretation of Six Sigma‚ tools and techniques‚ its development
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Six Flags Analysis of Goodwill ACCT 6610 Six Flags‚ Inc. is the largest regional theme park operator in the world. Currently Six Flags operates 18 parks in the US‚ one in Canada and one in Mexico. In the aggregate‚ Six Flags’ theme parks offer over 800 rides‚ including more than 120 roller coasters. The following questions pertain to Six Flags’ goodwill. To begin‚ obtain a copy of Six Flags‚ Inc. December 31‚ 2008 10-K‚ which was filed with the SEC March 11‚ 2009. A link to the report
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INTRODUCTION Six Sigma was developed at Motorola in mid 1980’s when Motorola Company declared 10X reduction in product-failure. Six Sigma was originally used to compute the defects during manufacturing processes‚ and to trim down the faults at every level in the processes. Motorola declared millions of savings by using this method. GE also used Six Sigma and declared that it save up around US $ 300 million to operating income. From the last decade there has been a major initiatives by various industries
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Six Sigma Six Sigma is a methodological approach by which errors in a company’s current processes and plans are identified and strategies to fix the same are formulated. It is fact-based technique‚ involving a lot of data handling‚ which provides scientific results for cost cutting and reduction in waste of resources. It is also a fat–based‚ data–driven philosophy of quality improvement that values defect deterrence over defect exposure. It drives customer satisfaction and bottom-line results
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INTRODUCTION Financial derivatives have crept into the nation ’s popular economic vocabulary on a wave of recent publicity about serious financial losses suffered by municipal governments‚ well-known corporations‚ banks and mutual funds that had invested in these products. Congress has held hearings on derivatives and financial commentators have spoken at length on the topic. Derivatives‚ however remain a type of financial instrument that few of us understand and fewer still fully appreciate‚ although
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Six Sigma‚ An improvement Strategy……. Causes of Variation ● Random‚ chance‚ constant‚ common‚ unknown causes the “rhythm” of the process ● Variation inherent in a process ● Can be eliminated only through improvements in the system Assignable‚ special causes ● something has changed ● Variation due to identifiable factors ● Can be modified through operator or management action ● What are the sources of variation in a process? ● ● ● ● ● ● Machine variation Raw Material variation Different
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FBE 459 – Financial Derivatives Spring 2013 Scott Joslin University of Southern California Marshall School of Business Course Description This course intends to be an introduction to financial derivatives‚ namely options‚ futures and swaps. Our main goal will be to focus on the uses of derivatives for hedging and speculation and to understand risk neutral pricing of derivatives. The emphasis of the course will be on conceptual issues as opposed to the institutional aspects (although the basic
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