Emerson

In: Business and Management

Submitted By qianzhiren
Words 596
Pages 3
Emerson Electric Company
Over the past three years, Emerson Electric Co.’s international sales revenue has been satisfyingly increasing. At the same time, the company switched its strategy from exporting to offshore production. To finance the general corporate activities, Bousquette, CFO of the company, is considering raising $65 million by issuing two-year bonds. The three options that management has are 1) an 8.65% domestic bond, 2) a 4.58% Swiss Eurobond, 3) an 18.55% New Zealand Eurobond. In order to determine which debt issue will be the best choice for the company, economic forecasts for the three countries are reviewed. And I believe that the US bond would be the best choice among the three. The rationale behind this decision are illustrated as follows.
The NZ bond with an interest rate as high as 18.55% seems to be a nonstarter choice at first glance. However, it may not be the truth. The negative effect brought by the high coupon rate can be greatly offset by the high inflation rate when coupons are paid out. Thanks to the increasingly high inflation rate which will depreciate the value of NZ dollars, less US dollars will be actually needed to pay back the loan. Taking Purchasing Power Parity and International Interest Rate Parity into consideration, given such a high inflation rate (high depreciation of NZ dollars), it is hard to determine whether NZ is a bad choice or not.
To raise US$65 million, without taking the time value of money into account, Emerson will need to pay out about a total of US$76.25 million in the future two years (the first payment is $5,622,500 and the second payment is $70,622,500). To raise 98,930,000 CHF, the equivalence of US$65 million in Swiss currency, an approximate total of 108 million in CHF will be paid, which consists of the first coupon payment of 4,530,994 CHF and the second payment of 103,460,994 CHF. To raise…...

Similar Documents

Ralph Waldo Emerson

...RALPH WALDO EMERSON “FROM PULPIT TO PULPIT From pulpit to pulpit or does it only appear that way to a few. Ralph Waldo Emerson’s career began in the midst of tragedy and controversy. Emerson first lost his wife Barely a year after marriage in 1831. Emerson then resigned as Pastor of the Second Unitarian Church of Boston in 1832. Both of these events were to be major turning points in Ralph Waldo Emerson’s life. Somewhere around 1833 or 1834 Emerson set sail for the Old World, Italy being the first destination of his journey. Emerson, R. W. (1959) Sherrill, R. A. (Sept 2007) After some thirty plus days at sea, He finally arrived in the Mediterranean and started his whirlwind tour of Italy. He visited most of the same places frequented by tourist Art Galleries, Churches, and other places of natural beauty and historical significance. The next stop on his tour of the Old World was Switzerland after arriving there he spent the month of June. The third destination of his trip was Paris, France where he was to stay for the month of July. The final stop on this tour of the Old World was the United Kingdom namely England and Scotland. Emerson, R. W. (1959). After Emerson’s trip of Mediterranean and European areas he again endured another month at sea, back to Boston. Here he spent most of his time with his brothers, mother, and a few of his closest friends. It was during time of his life and......

Words: 1507 - Pages: 7

Philosophy

...Emerson’s Unifying Philosophy Throughout human existence, scholars have earnestly pursued knowledge and the attainment of truth. Historical figures such as Plato, Descartes, and Emerson sought answers to daunting questions of: ‘What is truth?’; ‘What is reality?’; ‘How is wisdom acquired?’ Many scholars believe these philosophers presented conflicting viewpoints: Plato encouraging skepticism among all previous historical, cultural, and personal perspectives; Descartes questioning definitions of reality and his very existence; Emerson encouraging self-trust and confidence in one’s ideals, opinions, and convictions. Surprisingly, reconciliation can be reached from these three differing hypotheses. Emerson’s thesis merely expounds from Descartes and Plato’s philosophies. He builds from Descartes’ search for self-identity and reconciles Plato’s skepticism with his views of self-trust and unconformity among scholars. Throughout “Mediations I and II”, Descartes disputes definitions of reality and identity, establishing a precursor to Emerson’s philosophy. Initially, Descartes questions all notions of being. In “Mediation I”, Descartes begins his argument explaining the senses which perceive reality can be deceptive and “it is wiser not to trust entirely to any thing by which we have once been deceived” (Descartes 59). But, he then continues to reason; “opinions [are] in some measure doubtful…and at the same time highly probable, so that there is much more reason to believe......

Words: 1008 - Pages: 5

Emerson Electric

...Emerson Electric (Measuring Innovation) Successful Emerson Electric is a global manufacturing and technology company with businesses in the United States, Asia, Europe and Latin America. The company has five business segments that they operate in: process management, network power, industrial automation, appliance and tools, and climate technologies (Marketline, 2010). Emerson Electric sought to improve innovation by implementing a metric system to meet their goals. The company set a goal for all their 60 business units to make a third of sales from products released in the past five years. They are using sales as a measuring metric to see if previous products can still be profitable in today’s world. This can encourage incremental innovation if sales increase more than the goal of one third. In order to track new product sales separate from old products, Emerson Electric has come up with an approach to tracking in a more insightful, revealing, and effective way (Hindo, 2008). The way the system work is that managers divide new product sales into one of four categories: minor improvements, major improvements, products that are new lines for the business, and ones that are completely new to the world (Hindo, 2008). This system is able to help managers develop radical innovations instead of incremental innovations. By categorizing their products, Emerson Electric is able to see how much innovation have occurred in the past year compare to future anticipations. In the......

Words: 361 - Pages: 2

Thoreau and Emerson

...Title: Thoreau and Emerson In today’s society each individual has the ability to thinks for themselves, but the inception of different ideas and thoughts has led to a population that’s dominated by the majority . We live in a society where a media, television and internet are the sources of manipulating a person’s mind. It also creates their mindset to determine how one think about themselves or and different view point on topic. In this particular essay I am going to be talking about two main people who had similar argument about how to be individual and not let government take control over your lives. Ralph Waldo Emerson and Henry David Thoreau were most influential writers of their time. They both had encouraged and practice individualism and nonconformity. In Ralph Waldo Emerson essay “Self Reliance” and Henry David Thoreau essay “Resistance to Civil Government” both spoke about how to become individual and what improvements needed to be made in American society. Emerson’s writings focus more on the self part of humanism and independence from society.  On the other hand, Thoreau focused on writing on matters of the self but tended to have more of a political overtone in his argument. They both wanted to attack the dominant religious, political and cultural values of American society in order to make people aware that the individual is more important than the government and society. Thoreau and Emerson tried to incorporate the idea of relying on others to determine...

Words: 1674 - Pages: 7

Ethics Emerson

...Emerson Process Management is a manufacturing company that is a global leader that engineers innovative products for Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial and Residential Solutions (Emerson). They have a strong ethics program where all employees are required a class once a year. “ Everything we do reflects a commitment to the highest standards of personal and corporate ethics” (Emerson). They stand by these words very closely as well, Emerson is committed to their employees and treats them with respect and honesty. I believe this is all true Emerson also makes it a point as well to maintain good ethics policies with their distributors, customers and suppliers. The work hard to keep up on their CSR (corporate social responsibility) by ensuring there disposing of wastes and recycling is done properly, and wherever they can by recycling any extra metals they have. Also follow correct procedures with disposing of hazardous wastes. They are part of PlantWeb, this means Emerson follows and adheres to preventing such safety or environmental mishaps before they happen. They have a step program that includes things like a plan for a plant emergency and they mostly importantly focus on prevention. They take prevention very seriously in preventing anything that may go wrong and cause an injury or environmental concern. They have qualified employees who jobs it is to go around daily and check, clean and maintain......

Words: 526 - Pages: 3

Emerson Essay Nature

...Emerson prefaced the prose text of the 1836 first edition of Nature with a passage from the Neoplatonic philosopher Plotinus. The 1849 second edition included instead a poem by Emerson himself. Both present themes that are developed in the essay. The passage from Plotinus suggests the primacy of spirit and of human understanding over nature. Emerson's poem emphasizes the unity of all manifestations of nature, nature's symbolism, and the perpetual development of all of nature's forms toward the highest expression as embodied in man. Nature is divided into an introduction and eight chapters. In the Introduction, Emerson laments the current tendency to accept the knowledge and traditions of the past instead of experiencing God and nature directly, in the present. He asserts that all our questions about the order of the universe — about the relationships between God, man, and nature — may be answered by our experience of life and by the world around us. Each individual is a manifestation of creation and as such holds the key to unlocking the mysteries of the universe. Nature, too, is both an expression of the divine and a means of understanding it. The goal of science is to provide a theory of nature, but man has not yet attained a truth nbroad enough to comprehend all of nature's forms and phenomena. Emerson identifies nature and spirit as the components of the universe. He defines nature (the "NOT ME") as everything separate from the inner individual — nature, art,......

Words: 3638 - Pages: 15

Emerson

...private heart is true for all men”(132),trusting yourself and being honest with the person you are inside are what you need to be an individual. This is the massage that Emerson tries to give us through his essay “Self-Reliance” . Emerson’s essay implies that to an independent or individual you have to have trust in yourself, thoughts, opinions, and feelings. You need to accept the person that you are truly are inside because Everybody is born possessing every things he needs to be an individual. Emerson writs” Trust thyself every heart vibrates to that iron string”(133). And you just need to learn how to use and utilize the things that you have. Emerson discusses some points that the reader should think of to be a “Self- Reliant “ . One of the most important point is to know who you are, what do you want to be, what do you love to do, and how do you want people think of you ? He writs” What I must do is all that concerns me, not what the people think” and “the great man is he who in the midst of the crowd keeps with perfect sweetness the independence of solitude”(136). He also talks about the fear of being misunderstood , sometimes we fail to present our ideas and thought or even we may not be able to present our ideas because our fear of misunderstood. But Emerson tells us that our greatness coms with misunderstood as well as it’s our truth. So he writs “‘Ah, so you shall be sure to be misunderstood.’ — Is it so bad,......

Words: 424 - Pages: 2

Emerson

...Emerson’s Self Reliance Just like the title says Emerson’s writing reflects the importance of thinking for ones self. This can be seen right away when Emerson places a poem at the beginning of his writing. The title for this poem is “Ne te quaesiveris extra”, which translates into “Look to no one outside yourself”. Emerson compares a person who has original thought as childlike. He sees conformity as one of the worst things a person can do, but acknowledges that this is hard not to do. “It is easy in the world to live after the world’s opinion; it is easy in solitude to live after our own; but the great man is he who in the midst of the crowd keeps with perfect sweetness the independence of solitude” (1625). Emerson is also very against routine. He sees routine as the killer of originality. If you stay in a routine you never have a chance to experience anything new. “A foolish consistency is the hobgoblin of little minds” (1626). Emerson’s view on American identity is that society represses originality. For one to reach the sublime state one has to have original thought. This can be seen towards the end of his essay. “Where is the master who could have taught Shakespeare? Where is the master who could have instructed Franklin, or Washington, or Bacon, or Newton? Every great man is a unique” (1635). All of these people created their own original thoughts and when people told them something was impossible they didn’t believe this and instead saw it as a......

Words: 262 - Pages: 2

Ralph Waldo Emerson Worldview

...Jonathan Veldhuyzen Professor Matthew Towles English 201-002 11/21/2014 Ralph Waldo Emerson: His own God and Transcendentalist Worldview “The foregoing generations beheld God and nature face to face; we, though their own eyes. Why should not we also enjoy an original relation to the universe? Why should not we have a poetry and philosophy of insights and not of tradition, and a religion by revelation to us,” (940, 941) were the words written by Emerson in the introduction of his renown work “Nature” as he espoused that men should not necessarily believe in a God through ideals seen in the Bible and evidenced in nature, but rather use their own logic through poetry and philosophy to determine their own God. His writings espoused beliefs that do not reflect a Christian worldview, but rather bases man’s salvation on his own intuition. Emerson was a rebel in his time, he had independent views that did not align to any system of values. According to “Anthology of American Literature,” Bronson Alcott declares that “Emerson’s church consists of one member-himself.” These words signify that Emerson’s ideas and values were so radical for the time that very few people shared his beliefs. Yet, he was not alone in espousing thinking that seemed somewhat pantheistic and contradictory to what he had preached many years earlier. During the 1830’s Ralph Waldo Emerson joined with some other literary authors of the day in supporting a set of values that looked beyond a Supreme Being for...

Words: 1121 - Pages: 5

Emerson and Thoreau

...Emerson and Thoreau In Ralph Waldo Emerson’s essay Self Reliance and David Henry Thoreau’s essays Civil Disobedience, Walking, and Life Without Purpose the two writers seem to have about the same message. Both of them talk about why people need to think for themselves and not try to be like everyone else. Emerson shows how famous people like Jesus, Socrates, and Galileo were different and because of it they did great things. He ends by saying “to be great is to be misunderstood.” I agree with this because people who try to be just like everyone else or try to fit in because they care too much about what other people think of them aren’t usually very successful. Emerson also has another quote saying “it is easy in the world to live after the world’s opinion; it is easy in solitude to live after our own; but the great man is he who in the midst of the crowd keeps with perfect sweetness the independence of solitude.” I really like this quote because it shows the importance of sticking to what you believe in and not falling under peer pressure, something I pride myself on. In Walking, Thoreau talks about nature and how people need time to be alone so they can clear their minds. This essay is kind of like Nature by Emerson because both talk about needing to be away from society and alone in nature. Thoreau makes many points about the government in his essay Civil Disobedience. He talks about how the government is “best which governs least” or not at all. Thoreau talks about......

Words: 318 - Pages: 2

American Scholar

...The article “American Scholar” by Emerson calls upon the youth of America to create their own literature, and become individuals in society rather than to simply believe in the things they are expected to think and believe in. Emerson calls on the fraternity of Phi Beta Kappa to become individual thinkers and scholars, Emerson tells them to keep expanding their minds and ideas. The article is used to inspire and address young Americans to create their own ideas, and without the influence of previous works, and British literature, in the hope to revitalize American literature and poetry. Through the use of metaphors, similes, repetition, imagery, as well as metonyms Emerson reinforces his idea that one should be a scholar by nature, rather than by literature. Emersons use of metaphors convey his idea that one should be an individual thinker rather than rely just on the works of others to create his ideas and beliefs. “…when the victim of society, he tends to become a mere thinker, or, still worse the parrot of other mens thinking” (Emerson 470). the use of this quote portrays Emersons idea that men have come to completely relying on the works of others, and that Man is no longer and individual thinker. He encourages these young men of the Phi Beta Kappa fraternity to become individual thinking men, and to base their ideas on nature and the society they live in, since one cannot base present society on a later society. Emersons idea on what a scholar should be is that one......

Words: 1267 - Pages: 6

Emerson Electric Hbr Case

...Heidi Heckel Prof. Boschen International Finance: Emerson Electric Company Case Write up September 14, 2015 Emerson Electric does the majority of its business in the United States, however foreign sales are growing as a direct result of a new strategy that focuses on offshore production rather than export. It increased its offshore plants from 50 in 1981 to 82 1986 and has seven subsidiaries in Switzerland and one in New Zealand. Emerson’s total foreign assets almost doubled since 1984 and net assets have risen 70%. It also has 200 million in Eurodollar notes outstanding, while concurrently, the dollar started to weaken against other world currencies. Emerson did partially hedge against the exposure created by it’s 7.875 Eurodollar note due in 1998 by acquiring other currencies that, grouped together, had an interest rate of 5.86%. This helped to offset their cost of debt. Emerson needs to raise capital and therefore plans on issuing 65 million in new debt in the spring of 1987. Emerson has three potential opportunities to consider and it must choose wisely. The three possibilities are issuing a domestic bond, a Swiss Eurobond or a New Zealand Eurobond. The economies of these three countries are very different. As stated earlier, it is anticipated that the US dollar will loose some of its value compared to other foreign currencies. If we also look at analyzing the US Treasury Bill against the inflation rate, we can see that the difference is hovering in a positive......

Words: 618 - Pages: 3

Managing Organizations and Leading People

...Evangeline Klingbeil 262608 WGU C200 Task 1 Emerson is a global technology and engineering solutions company that has been providing diversified and innovative solutions to customers for the last 125 years , as of 2015, employ more than 111,000 people . They are solution providers for industrial, commercial and consumer markets through its 5 business units. Those business units are: Emerson Process Management Companies are under constant pressure to cut cost, increase output all with fewer and less experienced workers. Emerson Process Management is relied upon by companies across the globe to aid in solving their process problems. Emerson is experienced in taking their customers toughest challenges and bringing predictable success. Emerson Industrial Automation There is a power in optimizing every facet of operations, greater energy efficiency, lower design costs and improved quality, to name a few. Emerson Industrial Automation helps speed your time to market, wherever you are located and whatever your line of business, from automotive to solar and wind, with reliable industrial automation solutions. Emerson Network Power Emerson Network Power is a hardware, software and service solutions technology business unit of Emerson. They are there to help protect and optimize the infrastructure for companies voice, data or multimedia content and applications. Emerson Climate Technologies Emerson Climate Technologies have trusted products in the......

Words: 510 - Pages: 3

Emerson Equity Analysis

...Climate Technologies The Climate Technologies segment supplies compressors, temperature sensors and controls, thermostats, flow controls and remote monitoring technology and services to all areas of the climate control industry, including residential heating and cooling, commercial air conditioning, commercial and industrial refrigeration and marine controls. 2015 vs. 2014 - Sales for Climate Technologies were $4.0 billion in 2015, a decrease of $98 million, or over 2 percent due to unfavorable foreign currency translation ($112 million). Underlying sales were up slightly ($14 million) as an increase in the global refrigeration business was essentially offset by a decrease in air conditioning. The temperature controls and sensors businesses were flat. Air conditioning sales in the U.S., Europe and China decreased while the rest of the world had strong growth. Global refrigeration was up modestly with growth in the U.S. and Asia and weakness in Europe. Overall, underlying sales were flat in the U.S., down 2 percent in Asia (China down 12 percent) and decreased 1 percent in Europe. Latin America was down 4 percent, Middle East/Africa was up 26 percent and Canada increased 13 percent. Earnings of $698 million decreased $39 million and margin declined 0.5 percentage points primarily due to unfavorable mix. Growth investments, and higher rationalization and unfavorable foreign currency transactions of $6 million each, were more than offset by cost reduction savings. Global......

Words: 656 - Pages: 3

Emerson Final

...Emerson is often considered the father of the transcendental philosophical tradition. Transcendentalists believe in three major principles: individualism, idealism and the divinity of nature. The Transcendentalists believed that an individual could “transcend” or go beyond the physical world of the senses into a different world of spiritual experience through free will and intuition. Emerson and the Transcendentalists believed that God was not distant and unreachable, but knowable through our own souls and through a deep connection with nature. The central themes in all of his works were individuality, freedom, human self-realization and relation to nature. In his essay on Nature, Emerson explores the relationship between humans and nature. He asserts that the beauty of nature can be understood by people only when one is in solitude. The true understanding of significance of nature is hindered by the hustle and bustle of daily life. Emerson is of the view that we take nature for granted. For example, we take the stars for granted because we know that they will always be there. However, although they are “accessible” in that they are visible to us, they are also inaccessible due to the distance between us. We can never physically touch them. However, there is an inter-connectedness among the nature, soul and the divine that we miss. “Nature always wears the colors of the spirit.” He feels that we must view nature from the eyes of a child. A child sees things in new an......

Words: 2122 - Pages: 9