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General Electric Capital, a division of General Electric, uses long-term debt extensively. In early 2002, GE Capital issued $11 billion in long-term debt to investors, then within days filed legal documents to prepare for another $50 billion long-term debt issue. As a result of the $50 billion filing, the price of the initial $11 billion offering declined.
Bill Gross, a manager of a bond investment fund, "denounced a ‘lack in candor' related to GE's recent debt deal. ‘It was the most recent and most egregious example of how bondholders are mistreated.' Gross argued that GE was not forthright when GE Capital recently issued $11 billion in bonds, one of the largest issues ever from a U.S. corporation. What bothered Gross is that three days after the issue the company announced its intention to sell as much as $50 billion in additional debt, warrants, preferred stock, guarantees, letters of credit and promissory notes at some future date."
In your opinion, did GE Capital act unethically by selling $11 billion of long-term debt without telling those investors that a few days later it would be filing documents to prepare for another $50 billion debt offering? "
Assume Jackson’s cash sales remain steady at $25,000 each quarter, credit sales are $600,000 in quarter 1, $520,000 in quarter 2, $480,000 in quarter 3, and $650,000 in quarter 4. What will Jackson’s cash collections from sales be for the quarter 3?
robo-tech inc. manufactures pistons for custom motorcycles within a relevant range of 83200 to 128000 pistons per year.
Which of the following is not a benefit of budgeting?
earnings per share eps is the most featured single financial statistic about modern corporations. daily published
Undertake a literature review to the factors of expectation gap caused and by interviews and questionnaires to find out the concepts and opinions of auditors and accountants on the fraud.
Use the high-low method to estimate Pizzeria Paradise's quarterly cost equation (i.e., use the high-low method to estimate Pizzeria Paradise's quarterly fixed costs and variable cost per pizza?
Vincent Corporation has 100,000 shares of $100 par common stock outstanding. On June 30, Vincent Corporation declared a 5% stock dividend to be issued July 30 to stockholders of record July 15. The market price of the stock was $132 a share on Jun..
Find an article on the use of spreadsheets in Accounting Information Systems.
at december 31 2013 parker petroleums liabilities include the following1. 22 million of 10 notes are due on march
Diane, the tool crib attendant, works eight hours a day, five days a week. Each order is for one small tool and each small tool takes Diane 2 minutes to retrieve from the bins. What is the average waiting time, in minutes?
Discuss any benefits you can think of for a company to (a) cross-list its equity shares on more than one national exchange, and (b) to source new equity capital from foreign investors as well as domestic investors.
describe the Statement of Cash Flows for a public college. Should the direct method be used? OR can the indirect method be used? What are the reconciliation starting and ending points? Is the cash flow statement similar to any that are produced fo..
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