UVA-F-1339 Version 2.6 CORNING‚ INC.: ZERO COUPON CONVERTIBLE DEBENTURES DUE NOVEMBER 8‚ 2015 (A) On November 8‚ 2000‚ Corning announced that it would issue $2.7 billion in zero-coupon convertible debentures priced at $741.923 per $1‚000 principal amount. The initial public offering (IPO) price yielded 2% per annum to maturity‚ compounded semiannually. A summary of terms is given in Exhibit 1. Concurrent with the offering‚ Corning also conducted a separate public offering of 30 million shares of
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Case Studies Corning Glass Background Corning Glass is a large‚ multinational organization involved in glass and related products with an increasing emphasis on high-value‚ technologically-specialized products‚ many of which are now part of joint-venture programmes and developments. Innovation ‘Claim to Fame’ This firm is another of the ‘100 club’‚ having been founded back in the mid-nineteenth century. It was a pioneer in process innovation enabling high-volume manufacture of glass‚
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Corning Incorporated: A Network of Alliances Background Corning Incorporated has established a strong reputation in the specialty glass market. Corning Incorporated helped pioneer the initiative for businesses to incorporated research laboratories in their business operations; and has been a leader in technology-based research for some year. Corning’s initial focus was on the U.S. market but it consistently makes strides to becoming a more international company. One of the major strides Corning
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How has innovation been used for driving growth at Corning? What is the role of Houghton family? What are the financial results? Right from the days when Corning developed the bulbs for the electric lights designed by Thomas Edison‚ the firms had maintained a strong dedication to technology and innovation. About 4-6 percent of the annual revenue was set aside for research‚ development and engineering. In the 1990s‚ this figure became 10 percent. There was constant emphasis on R&D efforts. Even during
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Bankruptcy Fraud What is Bankruptcy? Bankruptcy is a way for individuals or businesses to satisfy debts. There are four types of bankruptcy. There is Chapter 7 which is a complete liquidation for individuals. Chapter 7 bankruptcy liquidates assets that are not exempt and uses the proceeds to pay creditors. In this bankruptcy creditors may be paid in full or a percentage based on the assets that were available. There is Chapter 11 which is for a business. Chapter 11 allows a business to reorganize
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Faculty of Business Administration Academic Year 2014-2015 MBA 6503 Organizational Studies Case Report: DOW CHEMICAL: INNOVATING FOR SUSTAINABILITY By Vi Nguyen Student # 3503832 Instructor: Prof. Doug Flint October‚ 2014 Background on Dow Chemical Company (Dow) Dow‚ a multinational corporation based in Midland of Michigan in the United State‚ was R&D-intensive and diversified-industry leader in chemistries‚ advanced materials‚ and agro-sciences with technology-based products and
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Discuss two ethical challenges faced by the construction industry. In your discussion state why they are ethical challenges? Unethical challenges present in every industry and root of a project‚ which leads to unsuccessful of a project and delays in a projects completion. It is more common in the construction business to contract a part or entire project through a contracting company. There are several ethical challenges that can arise from the contracting a project through a third party contractor
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Identify and discuss Corning ’s strategic predisposition toward a joint venture with Vitro. Because of long histories of successful joint ventures and had been an innovative leader in foreign alliances for over 73 years‚ Corning ’s strategy of establishing the joint venture relationship with Vitro seems to be a ideal combination and will lead to success. However‚ the joint venture became subject to a series of cultural and other conflicts that began to undermine this vision. According to company
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Preparing For Ethical Challenges A survey by the Josephson Institute of Ethics polled more than 20‚000 middle and high school students about moral standards. Almost half of these students reported stealing something from a store in the previous 12 months. In the same period‚ seven out of 10 cheated on an exam. There is more and more evidence of antisocial behavior than ever among our youth. Even our most academically talented students tend to let personal interest triumph over the common good
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The Challenge of Ethical Behavior in Other Countries The requirements of day-to-day organizational performance are so compelling that there is little time or inclination to divert attention to the moral content of organizational decision-making. Morality appears to be so obscure in nature that it lacks substantive relation to performance. An effective organizational culture should encourage ethical behavior and discourage unethical behavior. Unfortunately‚ ethical behavior may end up costing
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