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The Controversy over Charles River Bridge essay help online free History online class help

Executed controversy over the Charles River Bridge dated as far back as October 1 5, 1 640 when the Massachusetts legislature, in accordance with common law, assumed control over public ferries. The legislature proceeded to give Harvard College the power to run a ferry on the Charles River between Boston and Charleston. Harvard continued to operate the ferry, and collect its profits until 1785.

That year, a group of men petitioned the state legislature to build a bridge across the river due to the inconvenience of the ferry.As time had passed, the two towns had grown and immunization between them had become more important, and technology was at a point now where a bridge appeared to be a wise economic undertaking. The request was granted and the Charles River Bridge Company was given permission to build a bridge and collect tolls for 40 years, but during those 40 years the company would have to pay 200 pounds (or -?$670) to Harvard College annually in order to make up for the profits the college would lose from the ferry.After 40 years of collecting tolls, the company would turn the bridge over to the state, but the government would still have to pay Harvard annually. The bridge was a giant success. It made large profits and proved to be very convenient. As a result, plans to construct more bridges were set into motion.

In 1792, the Massachusetts legislature gave another company a charter to build a bridge, across the same river, featherbedding and Boston.The second bridge was 275 yards from the first one, but the proprietors of the first bridge still complained. The owners of the Charles River Bridge argued to the legislature that building the second bridge would take away traffic and revenue from the first bridge. The legislature responded by giving the proprietors of the Charles River Bridge another 30 years to collect tolls. [edit]Warren Bridge As more time passed, the population of Boston increased, as did the amount of business the city was doing with the rest of the world.With these increases, the Charles River Bridge collected more and more profits, and the value of Charles River Bridge Company stock started to rise. Shares that had a par value of 5333.

33 sold for $1,650 in 1805, and by 1814, their price had risen to $2,080. 13] By 1823, the value of the company was estimated to be $280,000, a substantial increase from its original value of $50,000. Between 1786 and 827 the Charles River Bridge had collected $824,798 in tolls.Very few of the shares belonged to the company’s original investors at this time, and the stock was now owned by men who had bought it at very high prices. The public started to complain about having to continue to pay tolls after the bridge’s profits had far surpassed the original capital, with interest; but the new investors did not care. In their opinion, they had paid a large sum for the bridge stock, and they were not about to stop collecting tolls until they themselves had turned a profit.These proprietors decided not to meet any of he publics demands, and they refused both to improve services and reduce tolls.

There were multiple attempts to convince the state legislature to give permission to build a new bridge between Boston and Charleston, which would be in direct competition with the Charles River Bridge. Eventually, the legislature agreed to grant a charter for a new bridge between Charleston and Boston. In 1828, a company was given the rights to build the Warren Bridge, which would be extraordinarily close to the Charles River Bridge.The Warren Bridge would be turned over to the state once enough tolls had been elected to pay for the bridge’s construction, or after a maximum of 6 years, after which it would be free to the public. Since it was free, and so close to the Charles River Bridge, the Warren Bridge would obviously take all of the competing bridge’s traffic, and therefore its construction would leave the stock of the Charles River Bridge void of any value. [edit]Arguing the Case After the charter had been granted, the Charles River Bridge Company filed a lawsuit in the Supreme Court of Massachusetts in an effort to stop the erection of the second bridge.The endeavor failed, and the case was taken to he Ignited States Supreme Court.

The case was argued before the Court in 1831, where the plaintiffs argued that it was unconstitutional for the Massachusetts legislature to charter the Warren Bridge, because creating a competing bridge violated the contract clause in Article l, Section 10, which states, “No State shall pass anybody of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts”.It appears as though Chief Justice John Marshall, Justice Joseph Story and Justice Smith Thompson, were all in agreement that the Massachusetts legislature had indeed violated the obligation Of contract clause in the constitution, but because of justice absences, and disagreements between the justices, no final decision was reached. Due to more absences of justices, the case was not argued again for six years.During those six years, three new justices had been appointed by President Andrew Jackson, including the new Chief Justice, Roger Tenet; the Warren Bridge had been constructed, and made back the money it had cost to build, and had become a toll-free bridge. The Charles River Bridge was now closed, since it was no longer getting any traffic due to its toll. Before the Charles River Bridge case was argued before the Supreme Court again, there was a situation in 1833 involving the Camden and Mambo Railroad and the Delaware and Raritan Canal companies.This was not a case that went before the Supreme Court, but many prominent lawyers and justices were asked for their opinion on the situation, and among them was Tenet, who was then the Attorney General of the United States.

Both Of the companies had convinced the New Jersey legislature of 1 832 to add a condition to their charters that no other companies would be able to build a means of remonstration between Philadelphia and New York City for a certain amount of time.

Financial analysis on Dunkin Donuts 2016

Financial analysis on Dunkin Donuts 2016.

I would like this project to be based on Dunkin Donuts 2016. Please include the step by step on how

you computed the values i.e. (equations) as for they are necessary for me to submit.

Corporate governance

*How separate is management from ownership? ? If it is separate, how responsive is management to


*How does the company interact with financial markets? What is the quality of information provided

by the company (esp. in relation to others, especially its peers)?

*How does the company view its overall relation to the society and what is its approach dealing with

that relationship? ?

Shareholder analysis

*Is there one shareholder (or a small group) that exerts significant control?

* Who is the typical investor in this share? (Individual or pension fund, small or large, domestic or


* How liquid is the share?

?Risk and return, cost of capital

*How much total risk is there in the company?

* What is the source of risk: geography, industry, firm, currency, other?

* What is the historical return for this company’s share? Would you have under or out performed the

market? *How much of the performance can be attributed to management?

*How risky is this company’s equity? Why? What is its cost of equity?

*How risky is this company’s debt? What is its cost of debt?

*What is this company’s current cost of capital? Would you expect it to change in the future and


Company projects

* What are the typical projects for this company (long term or short term, investment amount, cash

flow pattern)?

* What is your judgment of the company’s current projects?

* Do you think future business will look like the past? Why or why not?

?Capital structure

*What types of financing has this company used to raise funds?

*How large, in qualitative or quantitative terms, are the advantages to this company from using debt?

*How large, in qualitative or quantitative terms, are the disadvantages to this company from using


*From the qualitative trade off, does this firm look like it has too much or too little debt?

?Optimal capital structure

*Does the company have too much or too little debt ,relative to the sector?, relative to the market?

*Based upon the cost of capital approach, what is the optimal debt ratio for your firm? ?*Considering

potential constraints and desirable flexibility, what would your recommended debt ratio be for this

firm ?

?Dividend policy

*How has this company returned cash to its owners? (dividends, share buybacks from the market,

other, e.g. asset spinoff) ?*How does the dividend policy compare to its peer group and to the


*How much money does the company have, and how much does it need in the foreseeable future?

*How do you recommend the company returns cash to shareholders (if at all)?

*Should the company change its dividend policy (return more or less cash to its owners)? ?

?Valuation ( this part includes excel)

*What type of cash flow (dividends, FCFE or FCFF) would you choose to discount for this firm?

*What growth pattern (constant, 2­stage, 3­stage) would you pick for this firm? How long will high

growth last?

*What is your estimate of the equity value of the company? How does this compare to the market


*What is the “key variable” (risk, growth, leverage, profit margins…) driving this value?

*Imagine you were hired to help enhance value at this company, what would you suggest? ?


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