DELUXE CORPORATION Contents Section 1: DELUXE Corporation 1.1. 1.2. 1.3. 1.4. Company Business Overview Macro-Evironment & Industry SWOT Analysis Porter’s Five Forces Section 2: Business & Strategy Risks / Financing Requirements Section 3: Main Objectives of the Financial Policy Section 4: Financial Flexibility – Cost of Capital Section 5: Is Deluxe’s Current Debt Level Appropriate ? Section 6: FRICTO Analysis Section 7: Conclusion - Recommendations 2 Section 1: DELUXE
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[pic] By: Michael Malone Statement of the Problem Rajat Singh‚ a managing director at Hudson Bancorp‚ needs to find a way to rejuvenate the paper check corporation. One main part that needs to be calculated is the appropriate mixture of debt and equity for the firm. The company needs to determine the correct mixture so that they can both minimize the cost of capital and increase the shareholders value. I will analyze the current and future situation of the company‚ trying to find the correct
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Deluxe Corporation Ninth Annual Institutional Investor Forum Sidoti & Company‚ LLC Jeff Johnson‚ Treasurer and Vice President Investor Relations September 24‚ 2010 Presentation Scope ■ Comments are limited to information already publicly released: – 10-K for 2009‚ filed February 19‚ 2010 – 10-Q for Q2 2010‚ filed August 5‚ 2010 ■ All estimates and projections are subject to risks and uncertainties that could cause actual future results to differ materially from those estimated or projected
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lastly any other issues. So‚ firstly look into the target bond rating‚ in our opinion DC needs to position itself to obtain a AAA rating. At AAA grade bond rating shows that AAA bond rating is higher in unused debt capacity so at AAA bonds rating Deluxe company has a lower unused debt capacity. So‚ that means if the shareholders start to sell‚ this company may not rebound since it is in a dying industry. The company will be an acquisition target by growing electronic payment companies because of
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transaction will appear on your credit card bill as “US STUDENT & EV I901 FEE 800-375-5283 VT” Department of Homeland Security U.S. Immigration and Customs Enforcement Notice of Action UNITED STATES OF AMERICA CONFIRMATION NUMBER: BBB1416597630 CASE TYPE: I-901 Fee Remittance Form for F-1‚ F-3‚ M-1‚ M-3 and J-1 NonImmigrants. PAYMENT DATE: Mar 14‚ 2014 APPLICANT: CHOKCHAI CHOMCHUENTANACHOK NAME AND ADDRESS: CHOKCHAI CHOMCHUENTANACHOK 242 CURT SMITH ROAD SOUTHBURY CT USA 06488
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Bancorp¶s estimates of the costs of debt and equity in case Exhibit 8‚which rating category has the lowest overall cost of funds? Do you agree with HudsonBancorp¶s view that equity investors are indifferent to the increases in financial risk acrossthe investment-grade debt categories?There is a general concept that higher rating category willhavethe lowest cost of debt. Butrating categories only give the information about the default risk and loss in case of companydefault. It does not guarantee the lowest
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E US PR EW O PE ON R LY T Y – N OF OT T H FO O M R SO SA N LE LE OR AR CL NIN AS G SR OO M MARK X COMPANY (A) Case 35 Financial Analysis and Forecasting Directed FO R RE VI Mark X Company manufactures farm and specialty trailers of all types. More than 85 percent of the company’s sales come from the western part of the United States‚ particularly California‚ although a growing market for custom horse transport vans designed and produced by Mark X is developing
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Units Unit Cost Total Cost From the Beginning Inventory 1840.00 20.00 36800.00 From the first purchase 600.00 20.25 12150.00 From the second purchase 380.00 21.00 7980.00 2820.00 56930.00 From the Second purchase 420.00 21.00 8820.00 From the third purchase 400.00 21.25 8500.00 From the second purchase 200.00 21.50 4300.00 1020.00 21.20 21620.00 Units Unit Cost Total Cost From the Beginning Inventory 1020.00 21.20 21624.00 From the first purchase 700.00 21.50 15050.00 From the second
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CAMBRIDGE SOFTWARE CORPORATION CASE QUESTION 1: IF CAMBRIDGE SOFTWARE IS OBLIGED TO LAUNCH JUST ONE PRODUCT‚ WHICH ONE SHOULD IT BE‚ AND HOW SHOULD IT BE PRICED? For every single version‚ we have calculated the total contribution for each price that segments are willing to pay‚ and chosen the price that can maximize the total contribution. SELL ONLY "STUDENT" VERSION Price Segments unit cost Unit Contribution Seg. Dev. Costs Demand Total Contribution $200 Consultants $15
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DELUXE Corporation Teaching Note Synopsis and Objectives Suggestions for complementary cases in capital structure choice and financial flexibility: “The Wm. Wrigley‚ Jr. Company: Capital Structure‚ Valuation‚ and Cost of Capital‚” (Case 34); “Rosario Acero S.A.‚” (UVA-F-1211); “Gainesboro Machine Tools Corporation‚” (Case 26) In July 2002‚ an investment banker advising Deluxe Corporation must prepare recommendations for the company’s board of directors regarding the firm’s financial
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