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AUTOMOTIVE AFTERMARKET OUTLOOK and REFLECTIONS from OUR Nd 42 ANNUAL SYMPOSIUM October 29 – October 30, 2018
GAMCO Investors, Inc. November 21, 2018 One Corporate Center Rye, NY 10580-1435 Tel (914) 921-5150 www.gabelli.com AUTOMOTIVE AFTERMARKET OUTLOOK AND REFLECTIONS FROM OUR nd 42 ANNUAL SYMPOSIUM October 29 – October 30, 2018 PRESENTING COMPANIES 10/31/2018 10/31/2017 11/1/2016 Company Exchange Ticker Price (a) Price (a) Price (a) AutoZone, Inc NYSE AZO $ 733.47 $ 589.50 $ 734.45 Boyd Group Income Fund (b) TSX BYD.UN 120.31 96.10 81.17 BYD Company Ltd (c) SHE 002594 46.79 62.79 55.57 Cooper Tire & Rubber Co. NYSE CTB 30.89 32.80 35.10 Dana, Inc. " DAN 15.47 30.49 15.00 Donaldson Company, Inc " DCI 51.28 47.21 35.46 Gentex Corporation NASDAQ GNTX 21.05 19.04 15.96 Genuine Parts Co. NYSE GPC 97.92 88.23 86.43 Lear Corporation " LEA 132.90 175.59 121.30 Monro, Inc. NASDAQ MNRO 74.40 49.35 53.32 Motorcar Parts of America, Inc " MPAA 21.18 28.91 26.19 Navistar International Corp NYSE NAV 33.49 42.31 23.01 O'Reilly Automotive, Inc NASDAQ ORLY 320.75 210.95 264.24 Penske Automotive Group NYSE PAG 44.02 46.62 42.83 Rush Enterprises, Inc. NASDAQ RUSHB 35.95 47.59 24.77 Standard Motor Products, Inc NYSE SMP 53.90 43.67 46.88 Superior Industries International, Inc. " SUP 9.83 15.55 22.95 Tenneco, Inc. " TEN 34.43 58.11 56.06 US Auto Parts Network, Inc. NASDAQ PRTS 1.19 2.56 2.27 Veoneer, Inc. -
Advance Auto Parts 1230 Roosevelt Blvd, Monroe, NC 28110
Not subject property Advance Auto Parts 1230 Roosevelt Blvd, Monroe, NC 28110 Price: $1,768,000 | Rent: $84,000 | Cap: 4.75% • Corporate Advance Auto Parts (AAP) • AAP has been open and operating at this location since 1997 • Recent lease extension • Located on heavily trafficked Roosevelt Blvd (US 74), traffic counts of 55,000+ vpd Phone: 212-972-3947 • Tenants in immediate area include McDonald’s, Wendy’s, Sonic, Captain D’s & Aldi among others [email protected] www.hmx1031.com • Charlotte is approximately 25 miles north west of the property • Below market rent This information has been obtained from sources deemed reliable, however HMX Realty Advisors does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. Advance Auto Parts – Monroe, NC Investment Overview PROPERTY OVERVIEW: HMX Realty Advisors exclusively presents for sale this Advance Auto Parts located in Monroe, NC. Monroe is located approximately 25 miles south east of Charlotte. The property sits in front of a grocery anchored shopping center and AAP INVESTMENT SUMMARY has been open and operating out of this location for nearly 25 years (since 1997). The center is occupied by a mix of mainly national tenants including Office Max and Tractor Supply Co (TSC). Price: $1,768,000 The property sits at a signalized intersection on the heavily trafficked Roosevelt Blvd (US 74), which is the main thoroughfare Cap Rate: 4.75% and receives over 55,000 vehicles per day. US 74 directly connects Monroe to Charlotte. The property is located less than 7 miles from the Charlotte-Monroe Executive Airport. -
HD [email protected] Or by Writing to the Directors at the Following Address
THE HOME DEPOT PROXY STATEMENT AND NOTICE OF 2020 ANNUAL MEETING OF SHAREHOLDERS Thursday, May 21, 2020 at 9:00 a.m., Eastern Time COBB GALLERIA CENTRE, ATLANTA, GA Table of Contents INVESTOR FACTSHEET Strategy Our One Home Depot strategy aims to deliver shareholder value and grow our market share by providing best- in-class customer service through a seamless, interconnected shopping experience for our customers. We are continuously improving our online and in-store experience and providing enhanced training for our associates. In addition, to ensure we are the product authority in home improvement, we strive to provide unique and comprehensive product offerings, continued innovation, and exceptional convenience and value. To execute our strategy, we have committed approximately $11 billion over a multi-year period to investments in our stores, associates, interconnected and digital experience, pro customer experience, services business, supply chain, and product and innovation. Shareholder Return Principles Our first priority for our use of cash is investing in our business, as reflected by our One Home Depot strategy. Our use of the remainder of our cash is guided by our shareholder return principles: • Dividend Principle: Look to increase the dividend every year as we grow earnings • Return on Invested Capital Principle: Maintain a high return on invested capital, benchmarking all uses of excess liquidity against value created for shareholders through share repurchases • Share Repurchase Principle: After meeting the needs of the business, look to return excess cash to shareholders in the form of share repurchases Key Financial Performance Metrics Set forth below are key financial performance metrics for the indicated fiscal years. -
U.S. Corporate Scores 2018
01 DISCLOSURE INSIGHT ACTION U.S. CORPORATE SCORES 2018 02 CORPORATE DISCLOSURE TO INVESTORS IN NORTH AMERICA 124 9 28 510 63 192 CONTENTS 03 04 CDP scoring methodology 2018 06 The A-List: North America 08 Corporate scores 34 Appendix I: CDP Activity classification system (cdp-acs) 40 Appendix II: Investor Members and Signatories 46 Appendix III: CDP Supply Chain Members Important Notice The contents of this report may be used by anyone providing acknowledgment is given to CDP. This does not represent a license to repackage or resell any of the data reported to CDP or the contributing authors and presented in this report. If you intend to repackage or resell any of the contents of this report, you need to obtain express permission from CDP before doing so. CDP has prepared the data and analysis in this report based on responses to the CDP 2018 information request. No representation or warranty (express or implied) is given by CDP as to the accuracy or completeness of the information and opinions contained in this report. You should not act upon the information contained in this publication without obtaining specific professional advice. To the extent permitted by law, CDP does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this report or for any decision based on it. All information and views expressed herein by CDP are based on their judgment at the time of this report and are subject to change without notice due to economic, political, industry and firm-specific factors. -
Printmgr File
THE HOME DEPOT PROXY STATEMENT AND NOTICE OF 2018 ANNUAL MEETING OF SHAREHOLDERS THURSDAY,MAY 17, 2018 AT 9:00 A.M., EASTERN TIME COBB ENERGY PERFORMING ARTS CENTRE, ATLANTA GA DEAR FELLOW SHAREHOLDERS: Your Board and management team are committed to creating long-term value for our shareholders. This commitment is reflected in our core values, which provide the foundation for our business and reflect the culture that was built by our founders nearly 40 years ago. We would like to highlight for you some actions we took in fiscal 2017 to ensure we are optimizing our governance practices to support continued value creation over the long term. The Board engages with management to address both the short-term needs and long-term strategies necessary to meet our customers’ expectations in a rapidly evolving retail landscape. As we and others have noted, there has been more change in retail over the past three years than in the prior 10 to 20 years. Company strategy is discussed regularly at Board meetings, and directors annually participate in an in-depth strategy session with management. Through these strategy sessions we tap into the ideas, viewpoints and experiences of our diverse and highly-skilled board members. The results of our strategy discussions helped shape the long-term strategy of investing in the “One Home Depot” experience outlined at our Investor and Analyst Conference in December 2017. We have continued to focus on Board refreshment to align our Board’s strengths with the evolving retail landscape. We are excited to announce Stephanie Linnartz, Executive Vice President and Global Chief Marketing and Commercial Officer of Marriott International, as a new director nominee. -
Exhibit Iii Individual Employers Benefitting from Reimbursement 291 Nissan $11,356.71 2Nd Wind Heating & Air $6,401.4
EXHIBIT III INDIVIDUAL EMPLOYERS BENEFITTING FROM REIMBURSEMENT 291 NISSAN $11,356.71 2ND WIND HEATING & AIR $6,401.42 3M CORP $60,676.93 3V INC $6,629.92 A AMERICA PLUMBING $3,674.92 A PARKER BARNES $3,636.06 A SHEFTEL & SONS $60,347.85 AAA COOPER TRANSPORTATION $39,698.00 AARON INDUSTRIES $1,324.58 AARON-SOUTHEASTERN RETIRE $422.68 ABBEVILLE CTY SCH DIST $126,422.25 ABBEVILLE RESCUE SQUAD $16,345.43 ABLE IRON WORKS $57,948.31 ACCOR ECONOMY LODGING $3,904.35 ACCUSTAFF $3,101.26 ACCUTREX PRODUCTS $93,949.44 ACE MAINTENANCE & SERVICE $12,924.45 ACHELPOHL ROOFING $17,747.04 ACME MARKETS OF VA $48,139.00 ACOSTA $2,673.25 ACTIVE SERVICE $87,014.09 ADAMS OUTDOOR ADVERTISING $7,491.85 ADECCO EMPLOYMENT SERVICE $98,285.12 ADF INTERNATIONAL $255.36 ADO CORP $35,256.28 ADVANCE AUTO PARTS $348,606.78 ADVANCE PLUMBING SERVICE $406.61 ADVANCED GLASSFIBER YARNS $3,788.79 ADVANTAGE SALES $164,455.65 ADVENTURE SIGHTSEEING $1,966.46 AECOM TECHNOLOGY $12,177.20 AEGON USA $40,895.82 AGRU AMERICA $478.58 AIKEN BROTHER $150.04 AIKEN CTY $275,560.44 AIKEN CTY COMMUNITY CENTE $2,891.55 AIKEN CTY SCH DIST $178,827.39 AIKEN TECHNICAL COLLEGE $4,595.28 AIR CENTRAL H&A $2,987.43 AIR CONTROLLERS $57,098.30 ALBANY INTERNATIONAL CORP $107,476.89 ALBRIGHT & WILSON AMERICA $4,014.88 34 ALEX LEE $60,263.82 ALEXS RESTAURANT $61,155.16 ALICE MFG CO $235,827.18 ALL METALS SERVICE $11,587.06 ALLEGRO $124,863.14 ALLEN YOUNG HOMES II $3,786.48 ALLENDALE CTY HOSP $41,842.78 ALLENDALE CTY SCH DIST $40,196.87 ALLIANCE MGMT $4,384.01 ALLIED CONTAINER CORP $63,981.87 ALLIED SIGNAL -
Citi Pure Estimates Momentum US Long-Short TR Index (CIISEMUT)
Date: 20-Aug-21 Index Weights as of monthly rebalance date 10-Aug-21 Citi Pure Estimates Momentum US Long-Short TR Index (CIISEMUT) Long Exposure Short Exposure Constituent Bloomberg Ticker Constituent Name Weight(%) Constituent Bloomberg Ticker Constituent Name Weight(%) 1 ARNC UN Equity Alcoa Inc 0.22% 1 A UN Equity Agilent Technologies Inc -0.08% 2 AAP UN Equity Advance Auto Parts Inc 0.18% 2 AAL UW Equity American Airlines Group Inc -0.26% 3 ABC UN Equity AmerisourceBergen Corp 0.92% 3 AAPL UW Equity Apple Inc. -0.02% 4 ABT UN Equity Abbott Laboratories 0.55% 4 ABBV UN Equity AbbVie Inc. -0.08% 5 ACN UN Equity Accenture plc 1.91% 5 CB UN Equity ACE Limited -0.61% 6 ADBE UW Equity Adobe Systems Inc 1.96% 6 AGN UN Equity Allergan Plc -0.96% 7 ADSK UW Equity Autodesk Inc 0.69% 7 ADI UW Equity Analog Devices Inc -0.28% 8 AEE UN Equity Ameren Corp 0.06% 8 ADM UN Equity Archer-Daniels-Midland Co -0.92% 9 AEP UN Equity American Electric Power 0.14% 9 ADP UW Equity Automatic Data Processing -0.04% 10 AES UN Equity AES Corp 0.42% 10 ADS UN Equity Alliance Data Systems Corp -0.28% 11 AIG UN Equity American Intl Group Inc 0.92% 11 AET UN Equity Aetna Inc -0.47% 12 AIV UN Equity Apartment Investment & Mgmt 0.78% 12 AFL UN Equity AFLAC Inc -0.13% 13 AIZ UN Equity Assurant Inc 1.64% 13 AKAM UW Equity Akamai Technologies Inc -0.17% 14 AJG UN Equity ARTHUR J GALLAGHER & CO 0.00% 14 ALB UN Equity Albemarle Corp -0.87% 15 ALK UN Equity Alaska Air Group Inc 0.04% 15 ALGN UW Equity Align Technology Inc -0.28% 16 ALXN UW Equity Alexion Pharmaceuticals -
HW&Co. Industry Reader Template
EUROPEAN UPDATE INDUSTRY UPDATE │ SUMMER 2015 www.harriswilliams.com www.harriswilliams.de Harris Williams & Co. Ltd is a private limited company incorporated under English law having its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales under company number 7078852. Directors: Mr. Christopher Williams, Mr. Ned Valentine, Mr. Paul Poggi and Mr. Thierry Monjauze, authorised and regulated by the Financial Conduct Authority. Harris Williams & Co. Ltd Niederlassung Frankfurt (German branch) is registered in the Commercial Register (Handelsregister) of the Local Court (Amtsgericht) of Frankfurt am Main, Germany, under registration number HRB 96687, having its business address at Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany. Permanent Representative (Ständiger Vertreter) of the Branch Niederlassung: Mr. Jeffery H. Perkins. EUROPEAN UPDATE INDUSTRY UPDATE │ SUMMER 2015 HARRIS WILLIAMS & CO. CONTACTS CONTENTS Thierry Monjauze Managing Director QUARTERLY QUICK READ 63 Brook Street London W1K 4HS United Kingdom EUROPEAN ECONOMIC CLIMATE Phone: +44 20 7518 8901 [email protected] EUROPEAN M&A ENVIRONMENT Red Norrie Managing Director EUROPEAN INBOUND M&A ENVIRONMENT 63 Brook Street London W1K 4HS United Kingdom AEROSPACE, DEFENCE & GOVERNMENT SERVICES Phone: +44 20 7518 8906 [email protected] BUSINESS SERVICES Jeffery Perkins Managing Director CONSUMER Bockenheimer Landstr. 33-35 60325 Frankfurt Germany ENERGY & POWER Phone: +49 69 3550638 00 [email protected] HEALTHCARE & LIFE SCIENCES LONDON OFFICE 63 Brook Street INDUSTRIALS London W1K 4HS United Kingdom Phone: +44 20 7518 8900 TECHNOLOGY, MEDIA & TELECOM FRANKFURT OFFICE Bockenheimer Landstrasse TRANSPORTATION & LOGISTICS 33-35 60325 Frankfurt am Main Germany FEATURED THEME Phone: +49 69 3650638 00 FEATURED THEME – MOMENTUM IN ACQUISITIONS BY STRATEGIC BUYERS1 . -
Product Guide Compatibility List Collated Nails
PRODUCT GUIDE COMPATIBILITY LIST COLLATED NAILS WWW.DUCHESNE.CA TABLE OF CONTENTS TABLE OF CONTENTS Presentation of the guide ................................................................................................................................................. 3 Available shanks and finishes ........................................................................................................................................... 4 GENERAL CONSTRUCTION & FRAMING ........................................................................................................................... 5 ■ 34° Paper strip nails ....................................................................................................................................................5-6 ■ 34° Paper strip joist hanger nails .................................................................................................................................. 7 ■ 28° Wire strip nails .......................................................................................................................................................... 8 ■ 21° Plastic strip nails ....................................................................................................................................................... 9 ■ 15° Wire collated coil nails ....................................................................................................................................10-11 ■ 15° Wire collated siding coil nails ............................................................................................................................. -
Advance Auto Parts, Inc. Company Highlights
2017 ADVANCE AUTO PARTS, INC. COMPANY HIGHLIGHTS 2017 $9.37 2016 $9.57 2015 $9.74 2017 $9.37 $9.37 2016 TOTAL NET SALES $9.57 (IN BILLIONS) 2017 $601 2016 $523 2015 $690 2017 $601 $601 2016 $523 OPERATING CASH FLOW (IN MILLIONS) 2017 $411 2016 $264 2015 $455 2017 $411 $411 2016 1 $264 2017 $6.42 FREE CASH FLOW 2016 $6.20 (IN MILLIONS) 2015 $6.40 2017 $6.42 2017 $5.37 $6.422016 $7.15 2016 2015 $7.82 $6.20 DILUTED EARNINGS PER SHARE 2017 $5.37 $5.37 2016 ADJUSTED EARNINGS $7.15 PER SHARE2 (1) Free cash flow is a non-GAAP measure and should be considered in addition to, but not as a substitute for, information contained in our “Consolidated Statements of Cash Flows” that can be found on page F-6 in our 2017 Form 10-K included in this annual report. Free cash flow of $411 million can be reconciled to net cash provided by operating activities on a GAAP basis of $601 million by adding back purchases of property and equipment of $190 million. (2) Diluted earnings per share have been reported on an adjusted basis to exclude certain non-operational and non-cash expenses in 2017 and 2016, including General Parts International, Inc. (“GPI”) integration and store consolidation costs, amortization of GPI acquired intangible assets, transformation expenses and the net impact of the Tax Cuts and Jobs Act. A reconciliation of the adjusted financial results to the most comparable GAAP results for 2017 and 2016 can be found on pages 17 and 21 of “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our 2017 Form 10-K included in this annual report. -
Danaher—The Making of a Conglomerate
UVA-BP-0549 Rev. Dec. 9, 2013 DANAHER—THE MAKING OF A CONGLOMERATE After joining Danaher Corporation (Danaher) in 1990, CEO H. Lawrence Culp helped transform the company from an $845 million industrial goods manufacturer to a $12.6 billion global conglomerate. Danaher’s 25-year history of acquisition-driven expansion had produced healthy stock prices as well as above average growth and profitability for more than 20 years (Exhibits 1 and 2); however, Wall Street had questioned the scalability of the company’s corporate strategy and its reliance on acquisitions since mid-2007. Prudential Equity Group had downgraded Danaher to underweight status, citing concerns over its inadequate organic growth. Company History (1984–91) In 1984, Steven and Mitchell Rales had formed Danaher by investing in undervalued manufacturing companies. The Rales brothers built Danaher by targeting family-owned or privately held companies with established brands, proprietary technology, high market share, and room for improvement in operating performance. Averaging 12 acquisitions per year (Exhibit 3), by 1986, Danaher was listed as a Fortune 500 company and held approximately 600 small and midsize companies. Acquisitions were concentrated in four areas: precision components (Craftsman hand tools), automotive and transportation (mechanics’ tools, tire changers), instrumentation (retail petrol pumps), and extruded products (vinyl siding). As these businesses grew and gained critical mass, Danaher used the term business unit to define any collection of similar businesses. Exhibit 4 provides a brief history of each of the original four businesses. Restructuring George Sherman was brought from Black & Decker as Danaher’s CEO following the crash of the LBO market in 1988. -
Severance Agreement Includes a Release of Claims and Non-Compete Provisions
severance agreement includes a release of claims and non-compete provisions. It is described below under “Payments Upon Termination, Disability or Death.” Comparative Compensation For comparative purposes, we generally focus on a group of publicly traded companies. We believe these comparison companies are representative of the types of firms with which we compete for executive talent, inasmuch as a number of the comparison companies operate one or more lines of business that compete with us. We believe we also compete for talent with private equity and other non-public companies, since the core skills and responsibilities required in our executives are generally not unique to our industries or markets. Other major factors we use to select this peer group include revenues and net income and market capitalization. The peer companies include: The Black & Decker Corporation M.D.C. Holdings, Inc. Danaher Corporation Newell Rubbermaid Inc. Dover Corporation NVR, Inc. D.R. Horton, Inc. PulteGroup, Inc. Emerson Electric Co. The Ryland Group, Inc. Fortune Brands, Inc. The Sherwin-Williams Company The Home Depot, Inc. SPX Corporation Illinois Tool Works Inc. The Stanley Works ITT Corporation Textron Inc. KB Home Toll Brothers, Inc. Lennar Corporation United Technologies Corporation Lowe’s Companies, Inc. 3M Company For each executive officer, we compare the overall competitiveness of total compensation, as well as each major component of compensation and the mix of components, with executives in comparable positions at our peer companies. Generally, when considering the competiveness of our total compensation packages to those of our peers, the Committee gives the most weight to information regarding the median level of base salary, target annual cash compensation, and target total compensation.