Historic Debate in Mexico
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P&G 2010 Annual Report
Touching & Improving Lives 2010 ANNUAL REPORT Net Sales Contents ($ billions) Letter to Shareholders 1 10 $78.9 Leadership Brands 7 Touching & Improving Lives 11 09 $76.7 More Consumers 12 08 $79.3 More Parts of the World 16 07 $72.4 More Completely 20 06 $64.4 P&G Innovations 24 Making a Difference 26 Financial Contents 27 Global Leadership Council 75 Operating Cash Flow Board of Directors 75 ($ billions) Financial Summary 76 Company and Shareholder Information 78 10 $16.1 09 $14.9 08 $15.0 07 $13.4 06 $11.4 Diluted Net Earnings (per common share) 10 $4.11 09 $4.26 08 $3.64 07 $3.04 06 $2.64 2010 Net Sales By business segment By geographic region By market maturity (% of total business segments) 15% 34% Beauty & Grooming 9% North America 34% Developed Health and Well-Being 42% Western Europe 48% Developing Household Care 13% Central & Eastern Europe, 66% Middle East & Africa 18% These results exclude net sales in Corporate. 21% Latin America Asia Financial Highlights (unaudited) Amounts in millions, except per share amounts 2010 2009 2008 2007 2006 Net Sales $78,938 $76,694 $79,257 $72,441 $64,416 Operating Income 16,021 15,374 15,979 14,485 12,551 Net Earnings 12,736 13,436 12,075 10,340 8,684 Net Earnings Margin from Continuing Operations 13.9% 13.9% 14.2% 13.3% 12.7% Diluted Net Earnings per Common Share from Continuing Operations $ 3.53 $ 3.39 $ 3.40 $ 2.84 $ 2.49 Diluted Net Earnings Per Common Share 4.11 4.26 3.64 3.04 2.64 Dividends Per Common Share 1.80 1.64 1.45 1.28 1.15 Dear Shareholders, P&G’s Purpose–to touch and improve lives, now and for generations to come–is inspiring and pervasive. -
Bloomsburg Investment Group
Bloomsburg Investment Group Equity Analysis The Procter & Gamble Company (PG) Analyst: Gerrick Hardy, Class of 2021 Trevor Luzi, Mackenzie Gross, Class of 2022 Bloomsburg Investment Group Opinion: After our group's thorough analysis, we believe it is in the best interest of the group if our holding in Procter & Gamble (PG) is partially liquidated. Although our group remains bullish about the company, we think taking some profits from PG's recent run-up and allocating funds elsewhere in the sector would be most beneficial. While the company has provided strong organic growth in each of the two previous quarters, a number of headwinds remain in the way which will likely restrict future growth. A stronger U.S. Dollar has essentially offset the organic revenue growth, and the rise in transportation costs and commodity prices has and will likely continue to squeeze the margins of PG. With consumer tastes trending towards less expensive generic brands, customers may not respond favorably to recent price increases of some of Procter & Gamble’s largest brands. Our sector believes PG is currently trading at a premium that will not be satisfied with future growth. Despite all of this, we are still bullish because of the high dividend yield that the company has increased for 62 consecutive years, wide array of brand offerings, and brand loyalty and recognition, among other factors. Considering cross-current risks that exist in the macroeconomic environment and the potential of an upcoming recession or economic downturn, Procter & Gamble will continue to provide stable growth and hedge our portfolio. Corporate Summary: Corporate Details: Name Procter & Gamble Co The Procter & Gamble Company, founded in 1837, is Ticker PG a global manufacturer and distributor of household Domicile United States goods. -
Procter & Gamble Co (Pg)
PROCTER & GAMBLE CO (PG) 10-K Annual report pursuant to section 13 and 15(d) Filed on 08/08/2012 Filed Period 06/30/2012 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark one) [x] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended June 30, 2012 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 1-434 THE PROCTER & GAMBLE COMPANY One Procter & Gamble Plaza, Cincinnati, Ohio 45202 Telephone (513) 983-1100 IRS Employer Identification No. 31-0411980 State of Incorporation: Ohio Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Common Stock, without Par Value New York Stock Exchange, NYSE Euronext-Paris Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes þ No o Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes o No þ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. -
The Politics of Economic Restructuring in Mexico: Actors, Sequencing, and Coalition Change
1 The Politics of Economic Restructuring in Mexico: Actors, Sequencing, and Coalition Change Maria Lorena Cook, Kevin J. Middlebrook, and Juan Molinar Horcasitas The parallel movements toward political democratization and economic liberalization that have swept many countries in Latin America, Central and Eastern Europe, and Africa, since the early 1980s are a challenging subject of scholarly inquiryybifferent analysts have examined the origins and timing of these developments, the combinations of interna tional and domestic factors that produced such historically significant changes, and the interaction between political opening and market reforms (including trade and exchange rate liberalization, deregulation of commercial and investment opportunities, and privatization of state- owned enterprises) in different national contexts. It is certainly the coincidence of shifts toward political democratization and economic liberalization that makes these developments a particularly compelling subject for students of comparative political economy. Wet in many instances, one of these processes clearly antedated the other, often by a substantial period of time. In recognition of this fact, some analysts underscore the potential importance that the sequencing of political and economic opening may have for the timing of regime change and the political profile of newly inaugurated democracies.1 For example, if economic liberalization leads to more rapid growth, an authoritarian regime may bolster its perfor- 1See, for example, Haggard and Kaufman -
The Procter & Gamble Company
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act Of 1934 November 15, 2017 Date of Report (Date of Earliest Event Reported) THE PROCTER & GAMBLE COMPANY (Exact name of registrant as specified in its charter) Ohio 1-434 31-0411980 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification Number) One Procter & Gamble Plaza, Cincinnati, Ohio 45202 (Address of principal executive offices) Zip Code (513) 983-1100 45202 (Registrant’s telephone number, including area code) Zip Code ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ ITEM 7.01 REGULATION FD DISCLOSURE On November 15, 2017, The Procter & Gamble Company (the “Company”) issued a press release announcing the preliminary voting results received from IVS Associates, Inc., the independent inspector of elections, for the Company’s 2017 Annual Meeting of Stockholders held on October 10, 2017. -
2006 Annual Report Financial Highlights
2006 Annual Report Financial Highlights FINANCIAL SUMMARY (UNAUDITED) Amounts in millions, except per share amounts; Years ended June 30 2006 2005 2004 2003 2002 Net Sales $68,222 $56,741 $51,407 $43,377 $40,238 Operating Income 13,249 10,469 9,382 7,312 6,073 Net Earnings 8,684 6,923 6,156 4,788 3,910 Net Earnings Margin 12.7% 12.2% 12.0% 11.0% 9.7% Basic Net Earnings Per Common Share $2.79 $ 2.70 $ 2.34 $ 1.80 $ 1.46 Diluted Net Earnings Per Common Share 2.64 2.53 2.20 1.70 1.39 Dividends Per Common Share 1.15 1.03 0.93 0.82 0.76 NET SALES OPERATING CASH FLOW DILUTED NET EARNINGS (in billions of dollars) (in billions of dollars) (per common share) 68.2 11.4 2.64 4 0 4 0 4 4 40 0 0 04 0 06 0 0 04 0 06 0 0 04 0 06 Contents Letter to Shareholders 2 Capability & Opportunity 7 P&G’s Billion-Dollar Brands 16 Financial Contents 21 Corporate Officers 64 Board of Directors 65 Shareholder Information 66 11-Year Financial Summary 67 P&GataGlance 68 P&G has built a strong foundation for consistent sustainable growth, with clear strategies and room to grow in each strategic focus area, core strengths in the competencies that matter most in our industry, and a unique organizational structure that leverages P&G strengths. We are focused on delivering a full decade of industry-leading top- and bottom-line growth. -
Mexico's Presidential Candidates Hernán Ancona C.*
Voices of Mexico /April • June, 1994 19 Mexico's presidential candidates Hernán Ancona C.* he political scene is set, the lights are on and the entire cast of nine actors have begun to deliver their fines with a vengeance; their supporters and the circumstances demand no less. TThe Mexican electorate can look forward to a wide range of political options including Luis Donaldo Colosio (PRI), Cuauhtémoc Cárdenas (PRD), Diego Fernández de Cevallos (PAN), Pablo Emilio Madero (UNO), Cecilia Soto (PT), Jorge González Torres (PVEM), Marcela Lombardo Otero (PPS), Rafael Aguilar Talamantes (PFCRN) and Alvaro Pérez Treviño (PARM). The candidates' initially lackluster performance was followed by a radical change, largely as a result of the uprising launched by the Zapatista Army of National Liberation (EZLN). Although experts say the EZLN will not guarantee the transition to democracy with acts of violence, it has made the country's leaders aware that democracy has become a necessary pre-requisite for social peace. The terms of the new Federal Code of Electoral Institutions and Procedures have forced minority and so-called satellite ' parties to offer presidential candidates. The forthcoming August 21 elections will be the most hotly contested in the country's modem history. Yet while the number of candidates is the largest in recent years, only ina. t three candidates are thought to be really in the running: la Luis Donaldo Colosio, Cuauhtémoc Cárdenas and Diego en Fernández de Cevallos. / Imag The long list of candidates includes two women, who, Cruz io although little-known in the national political scene and ton virtually outside of the hard-fought contest, also form part An of this smorgasbord of options: Marcela Lombardo Otero Marco and Cecilia Soto González. -
The Cancer and the Cure: Security, State and Power in Mexico De Rosa, F
The Cancer and the Cure: Security, State and Power in Mexico De Rosa, F. & Godeghesi, C1. Abstract This paper aims to understand the role of the Mexican state in a drug war context and the impact of Mexican drug policies to its institutional legitimacy. In this sense, we will discuss how the institution adopted security policies as counter measures concerning the narco-traffic. Such militarized action adopted by the Mexican government, in addition to the support offered by its neighbor United States, echoes how society imagines the use of force within public policies. In this sense, the main question is how the use of violence becomes central in the public policies’ formulation and why it represents an attempt to re-claim power and legitimacy. We will assess how this conception of public policy formulation does not encompass the dynamics in which violence emerges. This effort regards ultimately the final manifestation through which actors conduct violence, focusing in a unilateral conception of monopoly ownership. The paper will offer a critical discussion focused on violence and its role as an instrument of power and as a main part of the monopoly of state control. Our central argument is that the, Mexican government takes for granted other power relations implementing those policies. Such concerns should embody policy formulation in order to understand violence and its manifestations inside Mexican society regarding narco-traffic. “Sé que México enfrenta un gran problema de seguridad. Éste es un cáncer que se ha venido incubando durante años y al que no se le dio la debida atención, pero es un cáncer que vamos a erradicar” Felipe Calderón Hijinosa Introduction From 2006 to 2012, violence in Mexico has skyrocketed. -
Ernesto Zedillo's Economic Proposals
80 Voices of Mexico /October • December, 1994 Ernesto Zedillo's economic proposals n June 6, during his election campaign, investment. It would be financed with resources Ernesto Zedillo —now president-elect- derived from the contingency fund, fed by proceeds presented ten points for economic reactivation from deincorporation of public-sector assets [i.e., O and sustained growth. We present below a privatization], which until now have been used to summary of these points. make payments on the public debt. It would be able to contract long-term resources in international Encouraging investment, the motor of growth markets when favorable conditions exist for doing so, I propose three concrete actions for reactivating public acting prudently, and its resources would be used for investment and encouraging a significant volume of specific projects whose profitability would guarantee private investment: its ability to repay. • In the first year of my administration, increasing direct Foreign investment must continue to provide public investment by one fourth over the current level. complementary support to domestic investment, since it • Promoting a reform allowing for multi-year makes it possible to acquire cutting-edge technology budgeting of public investment. This would and representa a link with international trade and provide certainty for the financing of medium- and production flows. We will promote conditions of long-term projects. juridical security and equality allowing it to play this • Creating a Fund for Encouraging Investment. This complementary role fully. fund would provide investment projects with guarantees for obtaining financing at rates and Investment in education, training and health tempos that would be in line with their performance I make the commitment that during the coming and maturation rates. -
P&G 2016 Annual Report
P&G 2016 Annual Report FINANCIAL HIGHLIGHTS (UNAUDITED) NET SALES ($ BILLIONS) Amounts in billions, except per share amounts 2016 $65.3 2015 $70.7 2016 2015 2014 2013 2012 2014 $74.4 Net sales $65.3 $70.7 $74.4 $73.9 $73.1 2013 $73.9 2012 $73.1 Operating income 11.0 13.9 13.1 12.5 13.4 OPERATING CASH FLOW ($ BILLIONS) 2016 $15.4 Net earnings attributable 7.0 11.6 11.3 10.8 to Procter & Gamble 10.5 2015 $14.6 2014 $14.0 Net earnings margin from 2013 $14.9 % 11.7% 14.3% 14.0% 12.1% continuing operations 15.4 2012 $13.3 Diluted net earnings per common share from $ $2.84 $3.63 $3.50 $2.97 DILUTED NET EARNINGS (PER COMMON SHARE) continuing operations(1) 3.49 2016 $3.69 Diluted net earnings per 2.44 4.01 3.86 3.66 2015 $2.44 common share(1) 3.69 2014 $4.01 2013 $3.86 Dividends per $ $2.59 $2.45 $2.29 $2.14 common share 2.66 2012 $3.66 2016 NET SALES BY BUSINESS SEGMENT(2) 2016 NET SALES BY MARKET MATURITY Grooming 11% Baby, Feminine 28% and Family Care Health Care 11% Developing 35% 65% Developed Markets Markets Fabric and 18% Beauty Home Care 32% 2016 NET SALES BY GEOGRAPHIC REGION Europe 23% North America Greater China 44% 8% Latin America Asia Pacific India, % Middle East % 8 & Africa (IMEA) 9 8% (1) Diluted net earnings per common share are calculated based on net earnings attributable to Procter & Gamble. -
Políticas De Seguridad En México: Análisis De Cuatro Sexenios 73 Eduardo Guerrero Gutiérrez
Sergio Aguayo Quezada. Es profesor e in- El Colectivo de Análisis de la Seguridad con Democracia A. C. (casede) es una asociación Malgorzata Polanska. De nacionalidad vestigador del Centro de Estudios Internaciona- independiente que congrega a prestigiados académicos, integrantes de medios de comunicación polaca. Es consultora de la Oficina de las Naciones les de El Colegio de México y miembro del Sistema y expertos gubernamentales. Nuestro objetivo es intercambiar ideas, realizar investigaciones, Unidas contra la Droga y el Delito para México, Nacional de Investigadores. Es fundador del Colec- analizar y discutir temas nodales de una manera integral: seguridad, democracia, defensa, Centroamérica y el Caribe (unodc). En el gobierno tivo de Análisis de la Seguridad con Democracia, derechos humanos, transparencia, justicia e inteligencia. Nuestro énfasis está en México pero federal de México fue funcionaria de la Dirección A. C. (casede). Ha escrito docenas de libros y estamos atentos a los debates que se producen en América Latina, Estados Unidos y otras partes General de Relaciones Internacionales en la Secretaría artículos académicos. Entre sus obras destacan de Salud. Ha sido profesora del Instituto Tecnológico del mundo. En la agenda temática de casede se incluyen diversos fenómenos que inciden sobre Atlas Almanaques mexicanos; Vuelta en U. Guía para en- y de Estudios Superiores de Monterrey (itesm) y de la seguridad: crimen organizado, inseguridad pública, seguridad de los migrantes e incapacidad tender y reactivar la democracia estancada -
The National Anti-Corruption System
Revista Análisis ISSN: 0120-8454 ISSN: 2145-9169 Universidad Santo Tomás Nieto, Nubia Los usos de las campañas anticorrupción en México * Revista Análisis, vol. 50, núm. 92, 2018, Enero-Junio, pp. 219-237 Universidad Santo Tomás DOI: https://doi.org/10.15332/s0120-8454.2018.0092.10 Disponible en: https://www.redalyc.org/articulo.oa?id=515558288011 Cómo citar el artículo Número completo Sistema de Información Científica Redalyc Más información del artículo Red de Revistas Científicas de América Latina y el Caribe, España y Portugal Página de la revista en redalyc.org Proyecto académico sin fines de lucro, desarrollado bajo la iniciativa de acceso abierto ANÁLISIS ISSN: 0120-8454 Vol. 50 / No. 92 Bogotá, ene. - jun. / 2018 pp 219-237. Los usos de las campañas 1anticorrupción en México* 2Nubia Nieto** Recibido: 24 de julio de 2017 - Aprobado: 19 de octubre de 2017 Resumen México ha firmado y ratificado las iniciativas más importantes de la lucha contra la corrupción en el mundo. En tanto miembro de la Ocde, el G-20, las Naciones Unidas, la Organización de los Estados Americanos, el Fondo Monetario Internacional y el Banco Mundial, México ha acordado luchar contra la corrup- ción. A nivel nacional, cada presidente, como parte de su programa, ha incluido iniciativas anticorrupción en sus agendas políticas. Sin embargo, los niveles de corrupción e impunidad en México continúan siendo altos, lo cual plantea las siguientes preguntas: ¿Por qué, los políticos nacionales prometen frenar la corrupción al principio de sus gobiernos? ¿Porqué los políticos nacionales que prometen reducir la corrupción al finalizar sus gobiernos se ven envueltos en casos de corrupción? ¿Están los políticos mexicanos verdaderamente compro- metidos en luchar contra la corrupción? Este artículo pretende analizar estas cuestiones, y se embarca en una exploración de las campañas de lucha contra la corrupción como uno de los pilares del sistema político mexicano desde el go- bierno de José López Portillo (1976-1982) hasta Enrique Peña Nieto (2012-2018).