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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Life of Pizza. What makes pizza so good about that the people of America eat around 350 slices of pizza each second‚ or 100 acres per day? Excessive or just to die for. Pizza is a delicious fatty food that most people like eating. It’s from an Italian origin consisting of a flat round base dough baked with a topping of tomatoes and cheese. Anna Quindlen quotes “Ideas are like pizza dough‚ made to be tossed around.” Pizza has so much calories. 1 slice of a 14” large thin cheese pizza is equivalent
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How to make a pizza If you ask someone what his or her favorite food is‚ you will probably hear the word pizza. It is generally one of everyone’s favorite foods. I think it’s because there are so many types of pizza and so many toppings‚ that people can choose their own taste they like. If there is even a pizza with pineapples‚ what else can you expect? However not everyone knows how to make a pizza. And if you are one of that people than I think this essay is for you. First you star by preparing
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Case #33 California Pizza Kitchen Synopsis and Objectives This case examines the question of financial leverage at California Pizza Kitchen (CPK) in July 2007. With a highly profitable business and an aversion to debt‚ CPK management is considering a debt-financed stock buyback program. The case is intended to provide an introduction to the Modigliani-Miller capital structure irrelevance propositions and the concept of debt tax shields. With the background of a pizza company‚ the case provides
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How to make a pizza before we started ask someone what is their favorite food is it‚s probably pizza. Pizza is everyone favorite food well most people their are so many different toppings ‚ cheeses ‚ sauces ‚ and crust styles but not everyone know how to make a pizza that why this essay will break the recipe down step by step so you can know how to a pizza . First‚ to start out you must start by prepping all of the necessary items for the pizza. Generally you will start by making the dough. The
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Cake Recipe Project Description: In the following project‚ you will work with a recipe‚ modifying the wording‚ checking spelling‚ changing margins‚ and inserting symbols. The recipe was originally created in an earlier version of Word‚ so you will convert it to Word 2013. Instructions: For the purpose of grading the project you are required to perform the following tasks: Step Instructions Points Possible 1 Download and open the file named exploring_w01_grader_h1.doc. 0.000 2 The
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Lena Reed/Period 1 Be Cool to the Pizza Dude Questions 1. What does “the pizza delivery dude” represent to Adams? What in her description of him leads you to your response? Why does she feel it is important to be “cool” to him and his kind? I think Adams is trying to have “the pizza delivery dude” represent those who are less fortunate than us‚ because if you are kind to those who have it harder than you‚ that kindness will come back to you in any way that you may need it. “What goes around comes
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improved customer service‚ reduced mistakes‚ and shorter training times. Since then‚ Pulse has become a staple of all Domino’s franchises. Input: Customer orders that describe the type of pizza crust‚ pizza ingredients and toppings‚ side orders‚ and delivery location data. They described their inputs as TPS‚ Pizza tracker and Pulse etc. Processes: Data updates the system’s database. The older software used a ’thick-client’ model‚ which required all machines using the software to be fully equipped
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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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them that Shakey’s is not just all about food but about fun family and pizza. With its vision to be the leading and preferred pizza restaurant‚ it consistently serves the best tasting‚ high quality food through fast‚ efficient and friendly service in a clean‚ fun and wholesome environment. Shakey’s Pizza was the first important pizza chain restaurant in the United States and in many ways pioneered the concept of the chain pizza parlor. It is noted for its unique features: The chains are decorated
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