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Second, generally accepted accounting principles do not align expenses with benefits, distorting economic reality. As a result, investors who want to compare the cash they can take out of a company with the cash they have invested are hampered.
The authors argue Economic Value Added (EVA) is a true measure of a company's economic performance, in addition to being a strategy for creating shareholder value. Properly implemented, they state, EVA frees the measurement of corporate performance from the vagaries of accounting principles and gives both shareholders and management a clear picture of the value the company creates.
EVA is the profit that remains after deducting the cost of the capital invested to generate that profit or EVA = Net Operating Profit After-Tax minus capital charge. Effectively implemented, the tool becomes the basis for an incentive plan that rewards managers for actions that increase shareholder returns and vice versa.
John S. Shiely, president of Briggs and Stratton and co-author of the book, notes this strategy provided the foundation of his company's turnaround. In 1989, the world's largest producer of air-cooled engines had an EVA of negative $62 million based on $1.3 billion in sales. By re-organizing and focusing its strategy while developing its EVA program, the company staged a dramatic turnaround. By 1999, it reported a record positive EVA of $50.9 million. Shareholders, who bought $100 worth of stock at the beginning of the program, saw it increase in value to $673 in 1999.
The authors claim EVA is ideal for knowledge-based companies making heavy infrastructure investments today for any anticipated return later. EVA treats cash outlays that represent investments as capital rather than expenses. The capital in these knowledge based industries consists of research, development, marketing, advertising and start-up costs. Accounts view these expenditures as expenses, but it is realistic to capitalize them and amortize them over their useful lives.
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The other key ingredient to the success of this book is the neutrality of the authors. They don't have anything invested in what the reader thinks of Eva Peron. They do not want to sway the reader in any particular direction. The authors are neither "pro" nor "anti"-Evita. In the preface to the book they make the promise to try to present Eva as a human being, but concede that this is not as simple a task as it sounds. Evita, they claim, is buried beneath more myth and fantasy than any other historical figure of modern times.
Originally published in 1980 as EVA PERON, this re-issue, made to coincide with the release of the movie starring Madonna, contains a new introduction and epilogue in which Nicholas Fraser comments on the odd re-emergence of Evita as a late 20th Century phenomenon. Astonishingly, the re-emergence was predicted by Evita, who said, "I will return and I will be millions," shortly before she died. Though her story is at last a part of history in her homeland, "In the rest of the world," writes the author, "she has attained the condition of apotheosis." Fraser theorizes that the return may have to do with the fact that we live in a celebrity obsessed era where actors are paid more attention than politicians, making Evita - an actress-turned-politician who was accused by her opponents of turning national political life into show business - the perfect minor deity.
I would recommend EVITA: THE REAL LIFE OF EVA PERON to anyone interested in a somewhat scholarly rendering of Evita's life, as opposed to sensational pop biography (such as EVA PERON by Alicia Dujovne Ortiz).
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Like all good books, the plot seems fairly simple until you explain it. I can't go into detail of who The Boy is (surely you must have guessed anyway!) but I will leave in mystery WHO he has become and WHY he is where he is. It wouldn't be fair to compare this book to A Countess Below Stairs, which is what I incline to do. This one is longer, and sometimes does drag on; the agonizing love of Anna and Rupert is not repeated because A Company of Swans is lighter, and more suited to convention (which you will recognize if you've been a long-time romance reader). There is a villain, but unlike the bloodthirstiness in "modern" historicals (is that an oxymoron?) she does not receive her comeuppance as one is used to. But the threads of the story weave together to form an effortless plot and a sweet, charming tale. Rather Dickens-ish in its range of "coincidences" that bring Harriet, the heroine, and Rom Verney, the hero, together, A Company of Swans is nonetheless beautifully written and an engaging read.
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My rating has got these origins: Empirical research on Compensation,EVA and CFROI-Fade: A+. Discussion of EVA/CFROI: D-. Terminology: D value for 'Hands-on-valuation': F- Structure: F- Style: F-.
This book does contain interesting empirical research on EVA etc, but it does not offer 'A practical Guide to Implementation' because it does not contain a STAGE-Approach. Its terminology differs from any other book I've read, you must often guess, which formulas the authors used, because they did not have the courtesy to express their formulas. Some formulas are wrong nad their discussion of the 'metrics war' betweenn EVA and CFROI lags 5 years behind reality. They attack old methods of CFROI,which Boston Consulting and Holt Value published 5 (!) years ago. They fail to know, that BCG have refined CVA/CFROI and that BAYER. Lufthansa,and VEBA have implemented these refined CFROI-techniques,which are way better, than the old methods, which the book attacks.
Moreover, this book is terrible to read due to a lack of structure, the absence of clear definitions, the lack of formulas, a wordy style,which exhausts your nerves, and many value judgements....
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While I can understand that people might be disappointed that the forms included on the CD use fonts that not everyone has, as a designer, I would strongly recommend that you get those fonts anyway. If you are serious about being a successful graphic designer, you can't rely on the default fonts that come with your computer (besides, Helvetica is a great and well-crafted font).
Overall, I would recommend this book to anyone who is interested in the business side of graphic design, or anyone who is interested in covering their behind (protection from those eventualities such as uncooperative clients).
It's one thing to use copies from this book or any book but more than likely you want to change something, omit something or add something to the forms and thus this is where this book provides convenience.
This book offers forms for graphic and web designers as well. Definitely a good investment.
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As a memoir of life and death during the Nazi Holocaust, as well as a chronicle of spiritual transformation, this ranks among the very best.
Though it has been five years since I read the book, I am still inspired by Etty's courage and love.
However, nothing prepared me for just how truly enlightening this book was to be! Etty lived in the same time period and only blocks from where Anne Frank was hiding, and had the advantage of living as a Jewish housekeeper in a non-Jewish household. Indeed she had many advantages that could have, has she pursued it, possibly spared her ultimate end at Auschwitz. However, Etty had some strong feelings, which she mentions more than a couple of times. One is that she did not see why she should be spared what so many thousands of others were having to bear. However she also dearly hoped to live past the end of this terrible era -- and she felt always certain that this dark era would end -- especially so that she would be able to tell the world something so important, and have the world listen. She would tell the world that "life is beautiful, in spite of everything." Though her life was cut off in Auschwitz in November of 1943, the book perhaps can fulfill that dear hope.
No Pollyanna or ostrich, Etty experienced her ups and downs fully. Yet she had a deep understanding of real fulfillment in and gratitude for life. Most importantly, she looked for her answers within, and while the world with out was often atrocious, clearly what she found within was a source of constant beauty and sustenance.
The only explanation I can find as to why I had not heard of her before -- and why her name is not as well known as that of Anne Frank -- was her very liberal attitudes which were no doubt especially unpopular after the war, including a very liberal attitude toward sexuality and an, albeit constructive, criticism of fellow Jews who responded to the Holocaust only with hatred and bitterness.
Etty Hillesum's life, and her reflections in this book containing her diaries and letters from a Nazi work camp, are rare and sparkling jewels indeed. I recommend this book -- especially those who are late teens through eldest adult!
Bravo, Etty.
Note: I recommend that one not skip even one page of the initial forward and preface. It is a wonderful and immensely helpful introduction into the book.
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But! If you have read about and applied either Compass School or Black Sect FS before, beware! Ms. Wong uses Authentic FS and you'll realize it has very little to do with what you've believed about this ancient art of placement earlier, so it might just either confuse or kind of disappoint you. I'd say that if one of those schools have worked for you, just stick with them.
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With the mystery part of it, she keeps it suspenseful enough to carry it throughout the novel and has some interesting twists to the key behind the mystery.
The romantic part of it is not so graphically detailed. The main character ends up finding romance but it's exciting and the thrill behind it is that the character keeps her guard up trying to resist this man's charms. There is the thrill behind the man that's peristently pursuing her for romantic reasons and the possibility for love. The author always makes the male character a man that might have quite an exciting past but he always manages to respect the main character that he is pursuing.
She has been my favorite writer since my mother made a recommendation on this. You can imagine how some books may be dry and not capture your interest. I can read this book many times more!
I was hoping the book would deal with more of the matamatics associated with defining EVA in relation to various projects and business decisions. This book contailed very little information in this regard.