1.
It seems that since the issuance of Word 97 the hi-tech gurus at Microsoft had expanded their interest beyond chips, gigabytes, and teraflops to massage the vocabulary of those who use Microsoft Word
2.
The Department of Energy has contributed to the problems by their issuance of rules and regulations concerning the construction of nuclear plants and refineries
3.
reversed course and denied the issuance of a critical permit for the site
4.
the issuance of ALL subcontracts and purchase orders which I would
5.
The issuance of violation notices by Coast Guard boarding officers to vessel owners involved the levy of proportional fines, pending the option of boater-requested hearings (“Coast Guard…Ticketing…,”
6.
The first issuance is for two years
7.
With the country in Europe fighting the war, he opposed the issuance of war bonds since they would force the workingmen and -women to pay for the conflict
8.
Higher stock prices encourage the issuance of equity
9.
One parking ticket here in the city of Myrtle Beach that was paid in full the day of issuance in cash two years ago
10.
A mind sworn to the preservation and protection—and propagation, if possible—of logical thinking, has to take serious issue with the issue of our own issuance
11.
Since, in this case, there is no basis for the issuance of recipes
12.
• Issuance of guarantees and opening of L/Cs on behalf of the bank’s
13.
All the charges for issuance of Letter of Credit, negotiation of documents,
14.
is made before the issuance of the credit, thus consideration in these
15.
another investor rather than the issuer, subsequent to the original issuance in the
16.
They ruled that no one could get a letter our of the post office without taking the of “Dixie” or “Bonnie Blue Flag” became an offense only a little less serious than Iron Clad oath and, in some instances, they even prohibited the issuance of marriage licenses unless the couples had taken the hated oath
17.
” The American International Group (AIG) insurance company was in danger of bankruptcy because of losses incurred on its issuance of credit default derivatives
18.
I list the most popular types of gold coins, by country of issuance, here:
19.
150 on accompanying CD) This was paralleled exactly by the market-adjusted debt (MAD) ratios popularized by Michael Milken when he pioneered the issuance of high yield bonds at Drexel Burnham Lambert in the 1970s and 1980s
20.
The principal is usually repayable in 15 equal annual installments, beginning one year from issuance, so that the amount of the debt is reduced more rapidly than ordinary depreciation would require
21.
It is true also that the general practice of guaranteeing mortgages due only three to five years after their issuance contained the possibility, later realized, of a flood of maturing obligations at a most inconvenient time
22.
Although in the past it was an exceptional arrangement, we now find that many reorganization plans, providing for issuance of income bonds, give voting powers to these securities, generally calling for control of the board of directors until all or most of the issue is retired or if interest is not paid in full
23.
Railroad bonds of the blanket-mortgage type more commonly restrict the issuance of additional bonds through a provision that the total funded indebtedness shall not exceed a certain ratio to the capital stock outstanding, and by a limitation upon the emission of new bonds to a certain percentage of the cost or fair value of newly acquired property
24.
These bonds could have been purchased at the time of issuance and for several months thereafter at prices only slightly above their parity value as compared with the market value of the equivalent stock
25.
Eliminating the estimated “earnings” mentioned in the preceding paragraph the exhibit at the time of issuance and thereafter was as follows:
26.
The strong possibility that this privilege would be of value made the bond almost uniquely attractive at the time of issuance
27.
As a result of peculiar provisions surrounding their issuance in 1922, each $1,000 note was convertible into 100 shares of stock and also carried the right to purchase 400 additional shares at 10
28.
In the case of the Reliable Stores 6s, the speculative interest was very small, but it showed an actual profit at the time of issuance, since the stock was selling above the subscription price
29.
The subscription privilege was to run to November 1, 1938, and was protected by a provision for the issuance of a detached warrant evidencing the same privilege per share in case the preferred stock was redeemed prior to November 1, 1938
30.
Dilution may arise through split-ups, stock dividends, offers of subscription rights at a low price, and issuance of stock for property or services at a low valuation per share
31.
, issuance of 1 no-par share in place of, say, 5 old shares), and exchanges of the old stock for fewer new shares through consolidation with another company
32.
These prices were later reduced through the issuance of additional stock at $100, in accordance with the standard antidilution provision
33.
The privilege of converting is sometimes not operative immediately upon issuance of the obligation
34.
The first stage is that of original issuance, when investors are persuaded to buy the offering at a full investment price not justified by its intrinsic merit
35.
The entire capital surplus created in this manner has been absorbed by the issuance of Common Stock at par for an equal amount and accordingly is not a part of the existing surplus of the Company
36.
Coincident with the issuance of seven shares of stock for one and the tripling of the cash-dividend rate in 1922, this policy of understating earnings was terminated
37.
In such cases the earnings available for the common during the earlier period must be increased by whatever gain would have followed from the issuance of the additional shares
38.
Nevertheless, they did possess a keen understanding of how option and warrant issuance can affect the future value of the issuing company’s common stock
39.
The issuance of subscription rights sometimes gives the stock market an opportunity to indulge in that peculiar circular reasoning which is the joy of the manipulator and the despair of the analyst
40.
The quotation of the common was aided by the issuance of rights, as explained above
41.
, one maturing not more than, say, ten years after issuance
42.
Some of the other companies managed to remain solvent by affecting a kind of composition with bondholders, involving the issuance of new bonds carrying a guarantee of interest at rather low rates, though not of principal
43.
In the typical case bonds were callable fairly soon after issuance, and at modest premiums—say 5%—above the issue price
44.
” At long last, the bond-buying institutions refused to accept this unfair arrangement; in recent years most long-term high-coupon issues have been protected against redemption for ten years or more after issuance
45.
They quickly find buyers; their prices are often bid up enthusiastically right after issuance to levels in relation to assets and earnings that would put IBM, Xerox, and Polaroid to shame
46.
” Christopher Davis of the Davis Funds favors firms that limit issuance of stock options to roughly 3% of shares outstanding
47.
Perhaps the most striking example of this financial operation was the issuance by the NVF Corp
48.
In the mid-1990s, according to Merrill Lynch, roughly $15 billion in convertibles were issued annually; by 1999, issuance had more than doubled to $39 billion
49.
A measure of the impairment of the company’s financial position by this step is found in the fact that the new 5% bonds did not sell higher than 42 cents on the dollar during the year of issuance
50.
Nonetheless, the price of the stock doubled soon after original issuance, and any one of the brokerage-house clients could have gotten out at a handsome profit
51.
6 million shares of common stock for future issuance to its management
52.
At the high price soon after issuance the heedless public was paying much more per dollar of earnings and assets than for most of our large and strong companies
53.
The accounting treatment was designed to accomplish three things: (a) To treat the issuance of the bonds as equivalent to a “sale” thereof at 43, giving the company an annual deduction from income for amortization of the huge bond discount of $54 million
54.
* After investors lost billions of dollars on the shares of recklessly assembled utility companies in 1929–1932, Congress authorized the SEC to regulate the issuance of utility stocks under the Public Utility Holding Company Act of 1935
55.
As an aside, modern capital theorists seem to measure attractive finance solely by interest rates, deeming, say, a 6 percent margin borrowing by an OPMI stockholder as more attractive in a substantive consolidation context than a corporate issuance of 12 percent subordinated debentures
56.
From a creditor’s point of view, cash payments by a company are very different from the issuance of stock options
57.
With minor exceptions, the issuance of stock options has no effect whatsoever on the creditworthiness of a company
58.
The issuance of options results in present, or potential, dilution of common stockholders’ interests
59.
The company is committed to having the amount of common stock outstanding relatively fixed, and therefore, acquires for cash, or property, enough outstanding common stock to cover the new issuance of common stock through the exercise of stock options
60.
In the real world, there are myriad reasons justifying the issuance of and the existence of preferred stocks; here are a few:
61.
Many—if not most—corporations have layer-cake capitalizations, and the issuance of preferred stock enables such corporations to issue considerably more senior debt than would otherwise be the case
62.
In other words, the issuance of $10 million of preferred stock would allow the company to increase its senior borrowing by $80 million
63.
They also give a company opportunities to issue new equity in public underwritings for cash, or to acquire other companies either for cash or by the direct issuance of common stock or other equity securities
64.
5 percent via the issuance of new shares at 5
65.
Schenley Industries’ cash was worth a substantial premium over stated value to Glen Alden in 1968 and again in 1971 when Glen Alden acquired Schenley securities mostly by the issuance of subordinated debentures
66.
Even if an original bond indenture prohibits the issuance of senior debt, that provision can be abrogated by the consent of the requisite amount of bonds: in the case of Home Products International, “the written consent of the Holders of at least a majority in principal amount of the Securities” (Section 9
67.
Under Section 382, the issuance of a significant amount of new stock by a troubled company could result in a change of ownership, which could dramatically reduce the ability of the issuing company to use its tax loss carryforwards
68.
The financing scheme outlined above called for the issuance of $85 million worth of debt by Corporation
69.
The conventional public issue of senior securities with equity privileges has only very small amortization, or sinking fund, provisions that operate in the early years after issuance
70.
Accordingly, the mandatory redemption provisions governing the 4 percent notes were similar to those for a typical public issue: The sinking fund was not to become operative until January 15, 1979, about 10 years after issuance; thereafter, annual redemptions at par would amount to $500,000, or 2
71.
25 percent of the debt outstanding, beginning January 15, 1974, five years or less after issuance
72.
The issue is callable in whole or in part anytime after issuance at par
73.
Although some companies had dabbled in the issuance of digital currencies to their customers prior to Bitcoin (sometimes even currencies that exist only in a computer game), these actions didn’t attract the attention of governments or large financial institutions, except for some law enforcement actions
74.
One debate is whether to use dividend yields or broader payout yields that include stock buybacks and issuance
75.
The list could be extended, given growing evidence of cross-sectional return predictability, using indicators like return reversals (both short term and very long term), volatility, liquidity, distress, earnings momentum, quality factors such as accruals, and corporate actions such as asset growth and net issuance
76.
Only adding share buybacks but not share issuance, as is sometimes done, would overstate effective carry
77.
3 shows that net buyback-adjusted dividend yield (the sum of dividend yields and buybacks, less issuance) has the highest correlation with next quarter equity market returns (0
78.
The strong results may partly reflect corporate managers successfully market timing their equity issuance to coincide with expensive market levels
79.
Announcement effects provide interesting evidence: the plan to discontinue 30-year Treasury issuance in October 2001 had a large market impact within minutes of announcement—the expected scarcity was instantly priced
80.
• The maturity structure of government debt influences expected excess bond returns, perhaps because long-duration issuance inflicts more interest rate risk on the marketplace
81.
The impact of rising debt and deficits on bond yields is greater when expected inflation is higher and initial fiscal conditions are poor; if the level of indebtedness is already high, the expectation of more debt issuance raises investor concern about debt sustainability and eventual debt monetization
82.
• Supply–demand effects have been especially important during and after 2009 as sharply rising public bond issuance (and the prospect of persistent fiscal deficits) battle with public purchases of financial assets (and other types of liquidity support)
83.
Many documented new anomaly variables (indicators that are able to predict cross-sectional differences in average stock returns beyond the FF three-factor model of beta, value, and size), such as net share issuance, asset growth, accruals, profitability, and momentum, may proxy for expected cash flows
84.
If economic growth requires capital expenditure, this reduces current dividends or requires new issuance; higher future earnings from these higher investments are of no benefit to current shareholders
85.
3, of the 3% compound average aggregate real earnings growth in the past 60 to 80 years, existing investors have enjoyed only about 1% (real EPS growth), while 2% has been diluted by new equity issuance
86.
Remaining market cap growth was diluted by new and secondary issuance boosting the number of shares
87.
Total return for investors equals the rate of market cap growth only if shareholders can maintain their ownership position in all companies simply by reinvesting their total returns into share issuance (Dilution = Dividends)
88.
I will not try to track world wealth over time, but I remind the reader that any time series of market capitalization evolves over time both due to asset returns and to net issuance
89.
For example, the fast growth of securitized assets or the Chinese stock market capitalization in the past 20 years reflects more new issuance than high returns
90.
” You determine how much a company is using external financing (through debt or the issuance of shares) compared to internally generated cash flow from business operations by dividing cash flow from financing by average assets
91.
As Select Comfort reported on August 27, 2009, its shareholders did not approve the transactions contemplated by the Securities Purchase Agreement (the “Sterling Stock Purchase Agreement”), dated May 22, 2009, between Select Comfort and Sterling SC Investor, LLC (“Sterling”), which would have included the issuance and sale to Sterling of 50 million shares of the Company’s common stock at a price of $0
92.
Coin sales and the issuance of new silver-linked ETFs have been doing a brisk business based on investors reasoning that, with increasing demand and a price ratio between gold and silver that’s way out of whack from historical norms, silver prices could be ready to move solidly higher
93.
Although there are certain common causes (earnings announcements, takeovers, issuance of securities, and so on) each case is unique
94.
A total of 2 million shares were reserved for issuance in the 1987 annual
