Donald Trump vs Bally and the World’s Wealthiest Shareholders
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can you add one more table for corporate governance and explaination , the instruction is in the sample case calers vs whirlpool. the example like this. just add it in my recent upload file.
Calendar Year 88 92
Event Year -1 3
Insider Directors 3 2
Independent Outside Directors 9 9
Affiliated Outside Directors - -
Times new roman 12 double space.
The section on the background of investor must be at least 3 pages long and no more than 5 pages
Course Description and ObjectivesIn this coursc we will conduct in-depth investigations of the activities of the world’s wealthiest shareholders such as Warren Buffett, Carl Icahn and Donald Trump with the goal of getting a better understanding of exactly what they do to amass such considerable amounts of wealth. Specifically, we will uncover material related to the following topics:
• Characteristics of the investment programs of the world’s wealthiest investors, including attributes such as the duration of their investment programs and the tactics used for engendering changes at investment companies.
• Analysis of the changes in investment companies evoked by the activities of the world’s wealthiest investors using accounting, finance and other approaches to the examination of changes.
• Rewards from pursuing the activities of the world’s wealthiest investors, arising primarily from shared benefits wherein the large shareholder gains, as do the small shareholders of the firm.
• Risks from pursuing the activities of the world’s wealthiest investors, arising from a variety of factors including private benefits for the large shareholder when block ownerships are used by large shareholders to secure a variety of benefits to the exclusion of small shareholders.
Throughout the course, our understanding of the material covered will be complemented by the cases-in-point in class handouts.
Do not include any exhibit usde to caculate buy-and hold or culmulative abnormal returns in your final reports as this could run into numerous pages. It is okay to include a small portion(no more than half a page)of this exhibt in your written reports
Course Requirements
I will assign each student several of the world’s largest shareholders and the companies targeted by these shareholders. Each student, using a variety of analytical techniques that I will discuss in class, will conduct an independent inquiry of these shareholders. Subsequently, each student will prepare a written reports containing information on the background of the assigned shareholders, and a detailed analysis of each assigned company targeted by the large shareholder.
The background secdon of the large shareholder should discuss issues such as the relevant experience and expertise of the investor, the tactics used by the investor to pursue their investment program, sources of funds to pursue the active investment program, motivation for the pursuit of the investment program, personal loss if the value of the investment declines, evidence on past performance in pursuit of investment program, opportunities for self-dealing and evidence on these opportunities.
The analysis section should describe the effect of the large shareholder on the firm for each targeted firm that the student has been assigned. The analysis must be descriptive and evaluative. Each analysis should contain a discussion of the events in the investment program, an examination of the changes in the stock-prices, accounting performance, and other structures of the targeted firm, and a short conclusion.
P/ease plan on spending at least the same amount of time as you would on another three-credit class. Also note that the class requires a considerable amount of individual work; so please make sure there is a goodfit between what you are looking out for and what the class offers.
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Course Materials
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How Buffett Does It by James Pardoe (McGraw Hill, ISBN 0-07-144912-4) is the optional text I recommend for the class. Also, I will provide you with extensive handouts in class to assist you with
Case-In-Point: Donald Trump vs Bally
Name
University of Delaware
FINC 854: Seminar on World’s Wealthiest Shareholders
Date
1 Background of the Active Investor
Relevant experience
Before New York based real estate developer Donald J. Trump became the 45th president of the United States he had invested in various companies even as his business is associated with real-estate properties as a shareholder activist. Trump tried to influence the management decisions of the companies where he held large stakes. Real estate investors have a monetary stake in the deals that they make, but they also need effective real estate investing partnerships to make profits. Trump has been aligned with fellow developers and lawyers who are knowledgeable on real estate allowing them to negotiate favorable deals. Having total control over almost all the aspects of a project besides the financial arrangements and sale of the real estate projects allowed him to expand the real estate empire. Trump concentrated his investment in few firms in hotels, casinos and resort market, which firms that enable him to closely watch changes in the market and real-estate.
The terms partnership were often favorable to Trump and partnership with Holiday Corporation allowed him to invest more in casinos and hotels. Trump is a master dealmaker and the deal with Harrah’s at Trump Plaza in the early 1980s, allowed him to get a share of the company’s income and he was reimbursed cost during constructions. From Trump’s involvement in the real estate management he sought entry into the Atlantic City casino business, but there was fallout with the Holiday partners, who were also competitors with Golden Nugget. In an attempt to gain an upper hand in negotiations, Trump tried to force out Holiday to have more control on investment decisions. Trump became an aggressive shareholder activist in the 1980s and launched corporate governance battles to expand his investments in Atlantic City. While investments in such firms were short-term, there were opportunities for Mr. Trump to make contracts with other investors whom he worked with as partners in his real estate business.
Active management
Activist investors during the 1980s US economic boom benefited from investing in their targeted companies and threatening to takeover firms. A handful of targets as companies sought to protect themselves from the corporate raiders. The high-risk and high-reward takeover environment was rewarding to those who were able to make deal-making strategies as is the case with Trump and he was associated with greenmail, but he denies that his investments were meant to threaten hostile takeovers and influence the rise of shares where he would then sell at a profit company’s management However, unlike, other activist investors who suggested that the companies they invested in, sell their non-core businesses and divest, Trump rarely outlined his strategies to improve financial performance.
Trump chose viable companies to invest in projects that are financeable since there is proof that such businesses are less likely to experience cash flow problems when compared to the competitors. Businesses that leverage their competitiveness are attractive...
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