Male Serial Killer Essay Example for Free

Male Serial Killer Essay Serial killing definition has posed some difficult fundamental complications because it encompasses varied forms and it results from many different mental states. Serial murder is defined as the â€Å"unlawful† repetitive killing of many victims over a long period of time by an individual or, (rarely) by a group of individuals. The relationship between the offender and the victim is that of slight acquaintance or of a stranger typology. It also involves the motivation and motive to kill but apparent motives usually are shrouded and not really lacking as has been misconceived in some instances. It is very rare to find these kinds of killers doing it for money. It is mainly for sexual satisfaction, dominance to achieve their ‘world’, and for pure thrill (Koscis, 2007, p. 16). There has been much research is aimed at asserting the most concise psychological profile of serial murderers. Many theories have been brought about but from the varied declarations of different serial murderers, much effort is needed to come up with a consensus as to what is the driving force behind serial murder. Early murderers like Gilles Blithely for example, declared that he tortured his victims entirely for his personal pleasure, physical delight, and that he didn’t do it for any other end or intention. On his part, he was quite bold in getting his victims in the sense that he would even send his servants to haul his victims to his castle as though it was his right to harvest the peasant population as he wished. Gilles was a renowned military hero and a monstrous aristocrat. He gave a precociously modern excuse to his behavior- he directed the blame on his parents, who though they didn’t abuse him physically, their amoral attitudes made him a hapless victim to the crime (Odell, 2006, p. 22). Apsche has postulated a more specific serial killer profile white states that most serial killers are white males who are usually in their twenties or thirties. They often target strangers around their homes and/or their places of work. According to Eric Hickey, the criminologist who has collected an extensive serial murder demography database, states that males comprise 88% of the serial murderers, Caucasians 85% and that the average age of the first victim claim is approximately 28. 5 years. 62% of the killers exclusively target strangers while another 22% will kill at least one stranger. Furthermore, Apsche indicates that 71% of all the killers will carry out their operations within a specific area/location and will not frequently travel widely to find their victims (Godwin, Rosen, 2005, p. 13). The F. B. I has also come up with a definition of serial killers. The opinion given is that one needs to have committed at least three different murders spaced by a period of time that can be some few days or even several years. This murder spacing duration is what has been referred to as the ‘cooling off’ period. However, the fact that every serial killer applies a trade mark method of killing the victim should also be put into consideration for an individual to qualify as a serial killer. Wayne Gacy for example would always gaggle his victims using their own underpants to make sure they died of their own vomit. The past of every serial killer is very important in order to discover what makes them function as they do. Substantial evidence from varied and many cases prove that almost all serial killers had dysfunctional backgrounds in one way or another. This could have involved: alcoholism and drugs along with their related problems, physical or sexual abuse among others. There are other more universal traits even though they are usually varied in magnitude. Some of these are bipolar mode disorders, disorganized, or disoriented thinking, personal failure feelings resented to the society and social structures, poor socialization, sexual frustrations, and over possessive parents. Others may also be as a result of wild imaginations which that sometimes drag the serial killer to a fantasy mental world. The major and most frequent among the childhood behavioral development characteristics are isolation, very compulsive masturbation, and day dreaming (Godwin, 2008, p. 35). General fantasy is usually brought about by a day dreaming imagination which is over productive. This makes the serial killer attempt to live in this world as a protection from the real world isolation that he has encountered. If children are left alone for long periods with little or no attention at all being given to them, they tend to convert their minds into objects that will serve as the only company. The day dreaming factor then comes in handy especially when they develop inadequacy feelings due to the isolation they have experienced. Additionally, the feelings are often masked a myriad of apparent successes although they are more deep seated than the artificial expressions of neurotic goodness. These early childhood life attachments are referred to as â€Å"bonding†. They are the ones which are attributed to how the affected individual will react to others in later life. Proper interaction with others in society therefore is not learned by the child who sees others as mirror images that reflect their isolators (Godwin, 2008, p. 39). There is much recent research which has been done concerning the antisocial personality disorder’s (ASPD) etiology and which has primarily been focused on environmental risk factors identification. Many other recent studies have considered biological and genetic influences as they interact with the environment. It has however, been proved a little bit difficult to distinguish between the factors as either environmental or biological mainly because it is not possible to eliminate their interaction. Nevertheless, there have been admirable advances in these studies particularly in the identification of the environmental and biological ASPD indicators. Moreover, there is much limitation in distinguishing between psychopathy from ASPD and research will usually find consistent and similar risk factors that are common in both psychopathy and ASPD. On the same note, examination of the personality, behavioral and historical characteristics’ heterogeneity has greatly failed as they have been represented by serial killer populations. Identification of risk factors that could lead to violent and antisocial behavior is necessary and of paramount importance as it help in predicting individuals who are highly susceptible to committing these violent and antisocial crimes. This is particularly important in that it would aid the creation of effective treatment and intervention programs for these persons, even though violent offenders’ treatment programs often do not yield the desired results. In profiling the serial killers, mothers continually get a lion’s share of the blame as concerns the causes of serial killing. In studying early childhood behaviors of serial killers, it is found that they had usually been described as â€Å"a little off child† by their parents or were abandoned, or worse still were compelled to loneliness due to a myriad of reasons. As children, fledgling serial killers had common characteristics such as; they would often wet their beds, set fires, and torture animals. These are red flag characteristics or behaviors which are referred to as the triad of symptoms. Additionally, there are other historical factors of serial killers which include; trauma, head injury, abuse, antisocial behavior, insecure attachments, low or minimal arousal degrees, and abandonment or loss of a caretaker or a parent (Kamir, 2001, p. 51). Prime examples of these serial killers are Ed Gein, Gary Ridgeway, and john Wayne Gacy all of whom had been verbally and physically abused by parents. They also had endured forms of trauma and head injuries. In his early childhood, Ted Bundy thought that his mother was his older sister as he grew up and that his parents were his real parents. Jeffrey Dahma’s mother was mentally ill and ingested a lot of drugs while carrying Jeffrey’s pregnancy. Many other differentiated cases are recorded. In many serial killers’ history, the most disturbing, and common factor is their unnatural and unusual relationships they had with their mothers. These often include sadistic and sexual elements which could be inappropriate or exposure as children to their mothers’ sexuality and sexual activities. Others were significantly dressed as girls or were subjected by their mothers to sadistic sexual behaviors. These factors later made them develop some maternal uncanny characteristics such that some killed women and regarded them as â€Å"sluts and wholes†, from the impact of their mothers relationships. It is also very crucial to study the victimology or the overall victim’s history in making psychological profiles of serial killers. This is from the perspective that when the reasons for a person becoming the victim of serial killing are identified, then it follows that the motive behind the killing will be unearthed. The victim’s risk, personality, history, and physical characteristics all form a fundamental basis for homicide investigations as well as crime scene evaluation. Cumulative research has shown that victims will mostly consist of vulnerable persons such as adolescents, children, females, the elderly, runaways, and prostitutes. Victimology can thus assist in linking separate violent crimes that were committed by a single offender and therefore become one among the most important solving and classification tools of violent crimes (Kamir, 2001, p. 58). Victimology has particularly served a valuable tool in an attempt to identify and capture serial killers because the victim is usually a stranger to the crime perpetrator. For example, Gary’s victims were mostly prostitutes, and John Wayne Gacy’s victims were mainly adolescent boys whom he lured to his home with the promise that he would pay them. Ted Bundy on his part would fake injury to attract college-aged, kind-hearted women to his car, and almost all of them had long hair. Jeffrey Dahmer would promise to pay his victims if they allowed him to photograph them. It is however, difficult to apply victimology, both in identifying the serial killer or the next possible victim, particularly when victim characteristics considerably vary. This is the reason why investigators will rely on other crime aspects at the scene of crime in their attempt to profile and apprehend the serial killers. Modus Operandi (MO) refers to the actions that the offender undertook while perpetrating the crime. It must be a learned behavior which is developed over time from use and past success. This will continually evolve as it keeps on being modified depending on previous experiences with victims. For example, Wayne and Dahmer were previously arrested after being convicted for teenage boys’ assault and served sometime in prison. From then onwards, they made sure that they always killed their victims to eliminate any possible witnesses in future. Another example of how modus operandi evolves for serial killers was during the time serial killer Dennis Rader encountered victim Kathryn and her brother Kevin after waiting for her in her house without expecting her to have company. He hadn’t carried his â€Å"tool kit† with him and this cost him some embarrassment which he swore to have let happen again. He promised himself he would never again leave it behind as he went on his ‘hunting’ sprees (Odell, 2006, p. 26). Another aspect that is used in profiling serial killers is the signature factor which is also called the calling card. This is the unique, ritual, or personal expression that is demonstrated by the offender during crime commission. This is always based on the fantasies of the offender and an offender’s personality will always be left behind every time a signature is left. It is different from modus operandi since it represents a conduct that is far much beyond the necessary criminal commission behaviors. By leaving a signature, the serial killer aspires to gain satisfaction from the crime he has committed as driven by his fantasies. Another difference between modus operandi and the signature or the calling card is that the signature is a constant aspect but the MO may keep on evolving. It is possible, however, that a signature aspect may increase in intensity. Gary numerously revisited his victims’ bodies after dumping them to increasingly reengage in necrophilia sexual activities with them and hence reliving his crimes. Dennis Rader on his part would perennially taunt the police by writing them sexually explicit letters that described his crimes as well as where the bodies of his most recent victims could be found. These letters were all signed BTK as an authenticating certificate of his crimes. Along with the signature aspect, MO, and victimology, the organized/disorganized serial killers’ classification is an extremely important tool in serial killers profiling. The hypothesis is that organized serial killers will commit the crime after they have been subjected to stressful and precipitating events. They are also expected to be persons of average intelligence and who are usually socially competent. In most instances, these serial killers plan their offenses and apply restraints on their victims. Furthermore, they take from their victims some souvenirs or trophies which are mainly little extrinsic value items which they use to for later fantasy stimulation. They precisely go to the crime scene with a weapon which is intended to be used in committing the crime and which they carry with them after crime commission (Koscis, 2007, p. 40). Disorganized serial killers on the other hand are those who are hypothesized as opportunistic killers. They minimally restrain their victims and they may leave such things as semen, blood, murder weapon, blood and other items on the scene of crime. They will also openly display their victim’s bodies and their intelligence is always below average. They are also thought as socially incompetent persons. There is also a third category which is called mixed offender typology and which consists of both the disorganized and organized characteristics. This happens during situations where more than one offender is involved or when there is involvement of alcoholism and drugs. A crime may also be referred as mixed if the offender inexperienced or very young as well as if the crime had been planned but in the process of committing it some unexpected occurrences interfered (Godwin, Rosen, 2005, p. 20). Serial profiling however, encounters many similarities as well as differences and it therefore calls for concerted efforts to be able to pin the offender. This is more so because most of the evidence provided usually relies on the serial killers confessions which may disoriented or far fetched than is the real truth. Furthermore, it is paramount to address the issue of the exact relationship between psychopathy and serial murderers for more scientific conclusions to be deducted. Reference Godwin Grove (2008) Hunting Serial Predators: A Multivariate Classification Approach to Profiling Violent Behavior. London: Jones and Bartlett Publishers, pp. 35, 39 Godwin Grover Rosen Fred (2005) Tracker: Hunting Down Serial Killers. New York: Thunder’s Mouth Press, pp. 13, 20 Kamir Orit (2001) Every Breath You Take: Stalking Narratives and the Law. Michigan: University of Michigan Press, pp. 51, 58 Koscis Richard (2007). Serial Murder and the Psychology of Violent Crimes: An International Perspective. New York: Humana Press, pp. 16, 40 Odell Robin (2006) Ripperology: A Study of the World’s First Serial Killer and a Literary Phenomenon. New York: Kent State University, pp. 22, 26

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The story begins in the year 1984 in the nation of Oceania. Winston Smith is a low ranking Outer Party member working for a government system called the Party. The Party and it’s omniscient leader known as Big Brother, control everything including language, history, and it’s citizens. Everywhere Winston goes, he is being monitored by the Party through telescreens and by the Thought Police. The most recent implementation of the Party’s control over the nation has been the creation of Newspeak, an attempt to prevent political rebellion by eliminating all words that relate to it. Rebellion is the ultimate crime a citizen can commit, and even thoughts about rebellion are illegal. While working in the Ministry of Truth, a branch of the Party that controls and alters history, Winston begins to question the validity of the Party and it’s doctrines. He wishes for privacy and freedom but cannot express these feelings without fear of the Thought Police, who patrol thoughts and punish people who think poorly of the Party or it’s leader. In order to escape the Party’s tyranny, at least in his...

Nordstrom Financial Statement Analysis

NORDSTROM (JWN) I. Nordstrom’s overview Nordstrom is classified as an Upscale Independent Department Store Chain and is noted as one of the largest department stores of its type. Nordstrom is founded in 1901 by two partners, John W. Nordstrom and Carl F. Wallin. It’s headquarter is in Seattle, Washington area. Nordstrom carries a wide variety of merchandise and specialty goods, which includes apparel, shoes, jewelry, cosmetics, fragrances, handbags, accessories, and in some locations, home furnishings. Nordstrom is dealing with competition on many different levels.It is competing with higher end stores such as Neiman Marcus and Saks Fifth Avenue. In addition, it is also competing with second tier stores such as Macy’s, Dillard’s, and Bloomingdale’s. Dealing with diverse competition, upscale retailer Nordstrom has been famous for superior customer service for over 100 years and has been recognized on every 100 Best Companies To Work For list publishe d in Fortune magazine since 1998. Nordstrom operates over 200 retail locations across the country with worldwide revenue $10. 9 billion in 2011.It has two reportable segments: Retail and Credit. The Retail segment includes 115 ‘Nordstrom’ full-line stores, 89 off-price ‘Nordstrom Rack’ stores, two ‘Jeffrey’ boutiques, and one clearance store that operate under the name ‘Last Chance. ’ Nordstrom full-line stores and online store are substantially integrated to provide customers with a seamless shopping experience across channels. The Nordstrom Rack stores purchase high-quality name brand merchandise directly from vendors and also serve as outlets for clearance merchandise from Nordstrom stores.The Credit segment includes wholly owned federal savings bank, Nordstrom FSB, through which Nordstrom provides a private label credit card, two Nordstrom VISA credit cards and a debit card for Nordstrom purchases. The credit and debit cards fe ature a shopping-based loyalty program designed to increase customer visits and spending. Although the primary purpose of our Credit business is to foster greater customer loyalty and drive more sales, Nordstrom also generate revenues through finance charges and other fees on these cards.In retail department stores, consumer’s purchases are made within each department because each department is treated separately to achieve economies in promotion, buying, service, and control. Instead of categorizing departments by merchandise, Nordstrom created fashion departments that fit individual lifestyles. The retailer's best customers benefit from Nordstrom's â€Å"Perpetual Inventory† initiative, which provides the â€Å"right product, at the right place, at the right time. Nordstrom’s customer service is superior in that they put maintaining a customer relationship their top priority. It‘s main goal is to provide outstanding service every day, one customer at a time, and support the employees who deliver service to those customers. Each Nordstrom employee has a business card, which he or she gives to customers, to encourage them to reach back directly if they need anything. In addition, Nordstrom spends much less on traditional advertising than its competitors do, and to Nordstrom, â€Å"satisfied customers are much more persuasive than an ad†.Its legendary customer service is a competitive advantage that can't be easily duplicated, and the company spends a lot of time, money, and effort training employees to maintain that distinction. Even in times of economic distress, Nordstrom still maintains an unwavering commitment to making choices that are in the best interest of the customer. Therefore, Nordstrom keeps growing and maintains a great financial result in comparison with other department stores. Nordstrom business strategies are: 1. Maintaining good relationship with vendors and consumers 2.Maintaining good relationship with em ployees and providing effective training to them to develop future leaders 3. Expanding into new markets, technological investments, acquisitions and the timely completion of construction associated with newly planned stores, relocations and remodels. 4. Having effective inventory management; efficient and proper allocation of capital resources; successful execution of information technology strategy; and effective cost control in advertising, marketing, and promotion campaigns. 5.Managing debt levels to maintain an investment grade credit rating as well as operate with an efficient capital structure for its growth plans and industry II. Company financial ratio analysis: 1. Liquidity: Liquidity:| 2011| 2010| 2009| 2008| 2007| Current Ratio| 2. 16| 2. 57| 2. 01| 2. 01| 2. 06| Cash Ratio | 0. 73| 0. 80| 0. 39| 0. 04| 0. 22| Cash Flow from Operations Ratio| 0. 46| 0. 63| 0. 62| 0. 53| 0. 19| Overall regards to liquidity ratios, the higher the number the better; however, a too high also indicates that the firms were not using their resources to their full potential. Current ratio of 1. or greater shows that a company can pay its current liabilities with its current assets. JWN’s ratio increased from 2. 06 in 2007 to 2. 57 in 2010, and slightly decreased to 2. 16 in 2011. JWN’s cash ratio increased significantly from 22% in 2007 to 80% in 2010. JWN has a cash ratio of 73% in 2011, which is useful to creditors when deciding how much debt they would be willing to extend to JWN. In addition, JWN also has moderate CFO ratio of 46%, indicating the companies’ ability to pay off their short term liabilities with their operating cash flow. There was a great improvement in JWN’s liquidity ratios over the past 5 years.In general, JWN has efficient liquidity ratios which allow the company to cover its seasonal cash needs and to maintain appropriate levels of short term borrowings. 2. Activity: Activity| 2011| 2010| 2009| 2008| 2007| Inventory Turno ver| 6. 20| 6. 29| 5. 93| 5. 84| 5. 66| Avg. # of Days Inventory| 58. 83| 58. 03| 61. 59| 62. 53| 64. 50| Receivables Turnover| 5. 06| 4. 51| 4. 16| 4. 60| 7. 35| Working Capital Turnover| 3. 67| 3. 89| 4. 52| 5. 13| 5. 98| Fixed Assets Turnover| 4. 54| 4. 25| 3. 70| 4. 08| 4. 86| Total Assets Turnover | 1. 36| 1. 38| 1. 35| 1. 52| 1. 74| Length of Operating Cycle| 130. 9| 138. 87| 149. 38| 141. 93| 114. 18| I Inventory turnover shows how efficient a firm can keep its inventory turning at a steady flow from the manufacturer to the store and out to the consumer. Therefore, the higher the better because this means the firm is getting its inventory out to consumers at a more efficient pace. JWN’s inventory turnover is approximately the same in 2011 than in 2010, 6. 20 and 6. 29 respectively, which has slightly higher the number of days inventory from 58 days to 59 days. Same as inventory turnover ratio, AR turnover show how efficient a firm is at collecting its receivable.The fa ster a firm can collect its receivables, the better. JWN’s AR turnover has increased from 4. 78 in 2010 to 5. 36 in 2011. An increase in both inventory and AR turnover reduces the Length of Operating Cycle from 139 days to 131 days. In addition, there is also a good sign when JWN’s fixed asset turnover and total asset turnover increase. In general, JWN has ability to predict or respond to changes in fashion trends, consumer preferences and spending patterns, and to match its merchandise levels, mix and shopping experience to sales trends and consumer tastes, significantly impacts its sales and operating results. . Profitability: Profit| 2011| 2010| 2009| 2008| 2007| Gross Margin | 0. 39| 0. 39| 0. 36| 0. 37| 0. 39| Return on Sales| 0. 06| 0. 06| 0. 05| 0. 05| 0. 08| ROA | 0. 09| 0. 09| 0. 07| 0. 07| 0. 14| ROE | 0. 34| 0. 34| 0. 32| 0. 34| 0. 44| Upon evaluation of the operating efficiency, Gross profit margin, Return on sale, ROA, and ROE, JWN did a pretty good job du ring the fiscal year ended Jan 28th 2012. Gross profit margin, the net profit margin, ROA, and ROE have the same rate for 2011 and 2010, which are 39%, 6%, 9%, and 34% respectively. By evaluating JWN’s profitability ratio, JWN once again is upward looking.ROA is a comprehensive measure of profitability, taking into account how a firm’s assets and profits are used to create future profit. ROE is a profitability measure and is influenced by the affiliation between a firm’s debt and its owner’s equity. JWN has done an extraordinary job at maintaining moderate ROA and ROE ratio over 5 years period. Analyzing JWN’s profitability ratio shows that JWN should continue being profitably in the future. 4. Leverage: Leverage| 2011| 2010| 2009| 2008| 2007| Total Liabilities / Total Equity| 3. 34| 2. 69| 3. 19| 3. 68| 4. 02| Total Liabilities (BV) / Equity at Market| 0. 7| 0. 48| 0. 44| 0. 39| 0. 39| Times Interest Earned| 9. 61| 8. 80| 6. 04| 5. 95| 16. 85| As firm’s debt grows larger, debt to equity ratio in turn increases. Debt to equity ratio is an important factor in considering a firm’s credit risk. JWN’s debt to equity ratio increases 25% from 2. 69 in 2010 to 3. 34 in 2011. If this ratio decreases, there is less leverage within the firm. The increase in debt to equity ratio is due to the increase in long term debts and the decrease in total stockholder equity. Times interest earned ratio is a coverage measure; an increase has a positive impact on the firm.There was a significant decrease in Time interest earned ratio from 16. 85 in 2007 to 5. 95 in 2008. However, this ratio increased slightly over years. JWN’s Times interest earned has increased from 8. 80 in 2010 to 9. 61 in 2011. Ultimately, JWN generate more than enough income before interest and tax to cover for its interest expense. 5. Market related statistics: Like many luxury stores, Nordstrom has seen its sales rebound since late 2009 as well-he eled shoppers have become more comfortable with spending, despite volatility in the stock market.Nordstrom also has worked hard to make it easier to shop by adding Wi-Fi access for shoppers at all of its full-line department stores, offering free shipping on most items without any minimum purchase in September 2010, and fusing its online and in-store inventory systems so shoppers can find out online what's in stock at any given store in the chain. Nordstrom said it expects revenue at its stores open at least a year to rise 4 percent to 6 percent in the current full fiscal year, and it expects to earn $3. 30 to $3. 45 per share.JWN analyzes its dividend payout ratio and dividend yield, while taking into consideration its operating performance and capital resources, and plans to target a 25% to 30% dividend payout ratio in 2011. JWN has increased its dividend payout ratio and its dividend yield in 2011, 29% and 1. 9 % respectively. JWN paid dividends of $0. 92 per share in 2011, $0. 7 6 per share in 2010, and $. 64 per share in each of 2009 and 2008. 6. Quality of financial information Nordstrom uses a more moderate strategy when it comes to its accounting policies.It basically uses similar basic standards as other firms in the industry. Management and select employees of Nordstrom receive stock options and bonuses based on how profitable and how much growth the company is, which may lead to intentional accounting distortion to increase these benefits. Although distortion would be beneficial to management, the standards used by Nordstrom to account for stock issued to employees seem well disclosed and straight forward. Compared to the accounting policies and estimates used in the past five years, Nordstrom has not significantly changed any of its accounting standards.Estimates such as returns are based on past returns and performance and have not altered much in recent years. Nordstrom’s uses its historical data to estimate future performance for the use o f the inventory account. Nordstrom’s accounting policies and estimates seem to have no significant distortions. The changes in policies are well recorded and explained in the footnotes, leaving no concern about their accounting policies. The changes in policies accounting standards and estimates all seem to be legitimate. The manner in which Nordstrom discloses their financial information to the public is of extremely high quality.Nordstrom exceeds their expectation of providing customers and shareholders with an adequate explanation for nearly every element of their finances. After the presentation of each financial statement, Nordstrom provides a detailed clarification concerning each component listed in a manner that could be easily interpreted by the common inquirer. In general, Nordstrom effectively communicates their activities with their investors and are relatively free of unpredictable or unexplainable transactions. III. Comparison to the industry average and another store (Dillards)Liquidity:| JWN| DDS| Industry| Rating-JWN| Current Ratio | 2. 16| 1. 83| 1. 15| 8| Cash Ratio | 0. 73| 0. 26| 0. 12| 8| Cash Flow from Operations Ratio | 0. 46| 0. 58| -| -| Leverage|   | Total Liabilities / Total Equity| 3. 34| 1. 10| 1. 33| 4| Total Liabilities (BV) / Equity at Market| 0. 57| 0. 72| 0. 17| 4| Times Interest Earned| 9. 61| 5. 83| 7. 41| 7| Activity|   | Inventory Turnover | 6. 20| 3. 12| 6. 14| 6| Avg. # of Days Inventory | 58. 83| 117. 12| 59. 45| 6| Receivables Turnover | 5. 06| 232. 73| 22. 91| 3| Working Capital Turnover| 3. 67| 8. 88| 40. 9| 3| Fixed Assets Turnover| 4. 54| 2. 54| 6. 06| 4| Total Assets Turnover | 1. 36| 1. 47| 1. 91| 4| Length of Operating Cycle | 130. 98| 118. 69| 75. 38| 3| Profit|   | Gross Margin| 0. 39| 0. 37| 0. 29| 6| Return on Sales| 0. 06| 0. 07| 0. 06| 5| ROA| 0. 09| 0. 11| 0. 11| 5| ROE | 0. 34| 0. 22| 0. 25| 6| Both JWN and DDS maintained an efficient liquidity ratio which allowed them to cover their season al cash needs and to maintain appropriate levels of short term borrowings. DDS do not generate as much profit as JWN but it also has much lower leverage ratio than JWN.JWN has much higher debt to equity ratio than the industry average. However, its Time Interest Earned ratio is better than the industry. JWN’s activity ratio seems to be better than DDS, but below the industry average. JWN’s Beta is 1. 57 which theoretically indicates 57% more volatile than the market. DDS’s Beta is 2. 53 which is . 96 higher than JWN’s Beta and also means more volatile than the market. A beta of greater than  1 offers the possibility of a higher rate of return, but  also poses  more risk. In addition, JWN also has much higher dividend payout ratio and dividend yield than DDS.In general, JWN has higher rate of return and less volatile than DDS. JWN has higher dividend yield and lower dividend payout ratio than industry average. The growth and income pick pays an indus try-leading dividend yield of 1. 90%. Its ROE and Net profit margin are also higher than the industry average. Nordstrom clearly has a higher return than its competitor and is likely to be more profitable than its competitor and industry. In comparison with DDS and the industry average, it is apparent that there are no concerns with the accounting for the components of JWN ratios.JWN was consistently somewhat outperformed its competitor and the industry average. In its industry, JWN is apparently a leader in utilizing its capital to create value for the firm, creating profits, and increasing shareholder value IV. Growth in revenue and income Year| Revenue| Net income| 2011| $10,877| $683| 2010| $9,700| $613| 2009| $8,267| $441| 2008| $8,573| $401| 2007| $9,080| $715| 2006| $8,666| $678| Statistics|   | JWN| YoY growth in revenues | 2011| 12. 13%| YoY growth in net income| 2011| 11. 42%| YoY growth in revenues| 2010| 17. 33%| YoY growth in net income| 2010| 39. 00%|YoY growth in re venues| 2009| -3. 57%| YoY growth in net income| 2009| 9. 98%| YoY growth in revenues| 2008| -5. 58%| YoY growth in net income| 2008| -43. 92%| YoY growth in revenues| 2007| 4. 78%| YoY growth in net income| 2007| 5. 46%| YoY growth in revenues| (Average)| 12. 13%| YoY growth in net income| (Average)| 11. 42%| Nordstrom generates revenues from its credit segment, which consists of a wholly-owned federal savings bank that offers Nordstrom VISA credit and debit cards, and a private label card. Nordstrom also profits from its Faconnable boutiques located in France, Portugal, Belgium and the U.S. The remaining revenues are brought in by the retail store segment; the stores specialize in high quality apparel, shoes, cosmetics, and accessories. Nordstrom also sells direct via the internet at www. nordstrom. com. JWN’s revenue for 2011 increased 12. 7% compared with 2010 driven by the strength of Nordstrom full-line stores, rapid growth in its online business and improving results a t Nordstrom Rack. JWN opened three Nordstrom full-line stores, eighteen Nordstrom Rack stores and one Treasure & bond store, relocated two Nordstrom Rack stores, and acquired HauteLook during the year 2011.These additions represented 4. 0% of its total revenue for 2011. Same-store sales increased 7. 2%, with increases of 8. 2% at Nordstrom and 3. 7% at Nordstrom Rack. Nordstrom’s revenue was in a range of $8 billion to 11 billion from 2007 to 2011. There was a slightly decrease or increase in revenue over 5 years period. Nordstrom’s net income was in a range of $401 mil to $715 mil. There is a significant decrease in 2007 net income. It went from $715 mil to $401 mil, which is approximately 44% decrease in net income.However, its net income increased dramatically in 2010, from $441 mil in 2009 to $613 mil in 2010, which is nearly 40% increase in net income. In order to predict an accurate forecast for Nordstrom’s Income Statement, Statement of Cash Flows, and Ba lance sheet, a sustainable growth rate is needed. After examining Nordstrom’s past performance and computing past growth rates on Nordstrom’s financial, Nordstrom has an average growth in revenue and net income 12. 13% and 11. 42% respectively. V. â€Å"G† Growth rate Risk free rate |   | 3. 10%| Market rate|   | 10. 00%| Beta|   | 1. 58|Rate of return| Rf + B(Rm-Rf)| 14. 00%| # of share outstanding|   | 208| EPS|   | 3. 15| P/E ratio|   | 17. 48| Book value per share|   | 9. 42| Equity| Book value/share x # of share| 1959| Forecasted Net Income| EPS x # of share | 655. 2| Required Income| Equity x rate of return| 274| Residual Income| Forecasted NI – Required income| 381| Market price per share| P/E ratio x EPS| 55| Market capital| market price x # of share| 11453| Unrecognized intangible value (UIV)| market capital – equity| 9494| Growth rate| [(UIV *rate of return)-residual income]/UIV| 10%| With a risk free rate of 3. 0%, market r ate of 10%, and JWN’s Beta 1. 58, Nordstrom has a rate of return of 14% and growth rate of 10%. The growth rate 10% is slightly lower than the forecasted growth rate 11. 42% in net income and 12. 13% in revenue, based on the its past 5 years financial information. With the growth rate of 10%, the discount rate 14% from CAPM model is high enough for Nordstrom. Without the growth rate, discount rate 14% is too low because the capital market and market price per share will be $4679 million and $22. JWN’s market capital and market price per share are actually $11,453 million and $55/ respectively.With growth rate of 10%, JWN will have 14% in rate of return. VI. Recommendation about stock After evaluating Nordstrom’s past performance and forecasted its future growth, there should be a â€Å"BUY† in Nordstrom stock. Nordstrom has established itself as a high-end apparel retailing company. Nordstrom has founded itself upon excellent customer service and an unmat ched reputation. Its main competitors are Saks, Dillard’s, and Neiman Marcus. Nordstrom’s accounting policies are moderate and very well disclosed; they leave no room for any potential red flags to be raised. Nordstrom’s transparent accounting olicies show that the managers have confidence in the firm and its ability to perform. No distortion is used in their statements proving the firms high integrity standards. Upon completion of Nordstrom’s ratio analysis it is apparent that there should be no concerns as to how Nordstrom compares to its competition. In most cases Nordstrom was either average or stood above the competition. There were very few cases where Nordstrom fell behind in its market. Nordstrom would grow at an average 10% percent per year. This is shown through increasing sales and expansion of new stores.Nordstrom has $10,877 million net revenue, $683 million net income, EPS $3. 15, and dividend $. 90/share in fiscal 2012. Nordstrom is expecte d to have $11,705 Million net revenue, $735 million net income, EPS $3. 48 and dividend $. 90 per share during fiscal year 2013. JWN recently acquired online private sale leader HauteLook Inc, which will help the company in building its multi-channel retail format. The acquisition will facilitate Nordstrom to increase its direct business capabilities, implement an enterprise-wide inventory management system, direct sales to online customers and enhance customer service.JWN’s operations are based on a variable cost business model and about 40% to 45% of selling, general and administrative expenses are variable in nature. This flexible cost structure not only helps the company to mitigate the impact of sluggish sales trends on margins, but also enables it to quickly capitalize on the emerging opportunities when market conditions recover. Consequently, Nordstrom can expect a steady improvement in profitability moving forward. Nordstrom has 8. 6% increase in same-store sales for the five week period ended March 31st 2012 compared with the five week period ended April 2nd 2012.Total retail sales of $1. 03 billion for March 2012 increased 14. 7% compared with total retail sales of $897 million for the same period in fiscal year 2011. In addition, Nordstrom has a 7. 1% increase in same-store sales for the four-week period ended April 28th, 2012 compared with the four-week period ended April 30th, 2011. Preliminary total retail sales of $802 million for April 2012 increased 10. 5% compared with total retail sales of $726 million for the same period in fiscal 2011. First quarter same-store sales increased 8. 5% compared with the same period in fiscal 2011.First quarter total retail sales of $2. 53 billion increased 13. 7% compared with total retail sales of $2. 23 billion for the same period in fiscal 2011. In addition, JWN also invests 16. 4 million USD in Bonobos, an exclusive brand of men? s clothes that sells pants and other clothes online. Nordstrom will al so sell Bonobos products through its online store and through more than 100 brick and mortar stores. This move is one of Nordstrom? s efforts to capitalize on the growth opportunities and innovation potential that the web provides, which reflects a smart decision from a dynamic management team.

Inspirational Quotes from Mother Teresa

These quotes from Mother Teresa would be great additions to graduation or other classroom speeches. Use these in conjunction with themes and speech writing techniques. Yesterday is gone. Tomorrow has not yet come. We have only today. Let us begin.Give yourself fully to God. He will use you to accomplish great things on the condition that you believe much more in His love than in your own weakness.Little things are indeed little, but to be faithful in little things is a great thing.We cannot do great things on this Earth, only small things with great love.Let no one ever come to you without leaving better and happier.If you judge people, you have no time to love them.Kind words can be short and easy to speak, but their echoes are truly endless.God doesnt require us to succeed, he only requires that you try.We know only too well that what we are doing is nothing more than a drop in the ocean. But if the drop were not there, the ocean would be missing something.Reach high, for stars lie hidden in your soul. Dream deep, for every dream precedes the goal.I can do things you cannot, you can do things I cannot; together we can do great things.Do not wait for leaders; do it alone, person to person. More Information: Inspirational Quotes for Speeches