Credit cards can be a financial tool if used properly. Here, Alan Akina shares how an “expense” credit card can be beneficial. Stay tuned for more Financial Fitness tips on KHON 2 morning news and watch the episodes on Youtube! Visit www.101financial.com

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Who’s Watching the Watchmen? Oversight of the Consumer Financial Protection Bureau (Part 2 of 2) – House Oversight Committee – 2011-05-24 – House Committee on Oversight and Government Reform. Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs. Witnesses: Panel I: Elizabeth Warren, Assistant to the President, and Special Advisor to the Secretary of the Treasury. Panel II: Todd Zywicki, Foundation Professor of Law, George Mason University; Adam Levitin, Associate Professor of Law, Georgetown University Law Center; Andrew Pincus, Partner, Mayer Brown Rowe and Maw LLP; David Evans, Chairman, Global Economics Group, and Lecturer, University of Chicago Law School. Video provided by US House of Representatives.

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23 November 2011 Our intention today is for the financial systems of the world. We intend that money is honoured as a useful energy and only used in honest and mutually beneficial exchanges. We see the entire system working for the greatest and highest good of all.

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Panera Bread has an opportunity for growth within a challenging industry in two key areas – increased sales of specialty drinks and opening international locations – that will enable the company to spread its mission of fresh bread for everyone while increasing the bottom line for shareholders. By utilizing many frameworks for thought and projecting the estimated financials of the company, we are able to empirically show that these two strategies will be beneficial to the customer.

Utilize Historically High Margins on Specialty Drinks to Drive Bottom Line Growth

While Panera’s core business revolves around fresh bread, the style of the locations suggests that there is substantial revenue in selling coffee and related drinks, similar to Starbucks. Looking at the coffee market, estimated real growth is 2.7% or roughly 5.7% given a 3% inflation rate while the number of establishments, the actual coffee shops, is expected to grow only 1.6%, meaning that each shop on average will see increased revenue, due in part to a 3.5% growth in domestic demand (See Appendix A). Further, profit in specialty drinks is estimated at 19.8%, much higher than Panera’s 6.4% profit margin. This means that increasing the sales of specialty drinks will have a positive impact on Panera’s bottom line – clearly the industry is growing and is a good industry to be in for Panera. According to Buffalo Wild Wings’ franchise disclosure document, more than 40% of revenue is generated via alcohol and specialty drinks sales. If Panera were able to generate this level of sales with a 19.3% profit margin, its bottom line would increase by nearly 7.8% to 14.2%, abnormally high for the restaurant industry (which averages 4-5% margins). Though this profit margin level is likely not sustainable, the short-term boost in profit margin will help Panera expand its operations internationally to capture economies of scale with its suppliers.

Look to Industry Incumbents for Knowledge and Re-arrange Menu Locations

Visually, the layout of a Starbuck’s, Dunkin’ Doughnuts, or Caribou Coffee are much more fluid than Panera Bread with respect to the coffee ordering location. This analysis draws heavily on the Eden Prairie Mall and Downtown Minneapolis Nicollet Mall locations. The customer flow for Eden Prairie and Downtown is awkward; the customer must enter the store, walk past the bakery and coffee areas, and then order at the registers. The issue is that the coffee menus are located above the bakery items, not in clear view of the customer at the time of ordering. By the time the customer is ready to order, he or she has forgotten what drink to order; furthermore, the drinks are creatively named which is positive for brand identity, but awkward for the average male customer to order. At the very least, the coffee and specialty drinks need to undergo the following changes:

· Move the menus to the same wall face as the meal menus to ensure customers know what coffee is offered when ordering

· Arrange the bakery display cases nearer to the registers to entice more impulse purchases

· Remove queue line markers during non-rush times, especially in front of the bakery display cases

· Increase the offerings of specialty drinks, including researching alcoholic beverages, to attract coffee shop regulars into Panera

By focusing on combining the café design with a coffee shop atmosphere, Panera can become a “chill out” spot as well as a premier location for both lunch and dinner. Furthermore, this change can be carried to the international markets where café atmospheres, such as those in France, are more prevalent.

Expand Internationally to Build Brand Image and Diversify Economic Risks

Given that Panera is pursuing Canadian locations, it is safe to assume that the international market for fresh bread is growing. Indeed, the international market breakdown of industry revenues can be found in Appendix B. Clearly, the European market is a large market for fresh bread. However, IBIS World estimates that 135,000 bakeries operate in Europe, meaning the market is fragmented. A brand with a large marketing budget behind it could quickly enter the market and take a key position (See Appendix C). Given that the culture and preferences of European customers may differ from Americans, it would be best to test new products in Canada prior to the overseas launch of the Panera brand. An interesting facet of the European market is the strong relationship between the industrial agricultural and milling companies and the industrial bakeries. The largest bakeries are owned by the largest milling and agricultural firms in the U.K., Sweden, and Austria. This may cause supply chain issues in these countries, though Panera could pursue a partnership or joint venture approach to these markets.

Leverage on Existing Assets to Increase Shareholder Return and Expand

According to Panera’s 2009 10-K, the company had an interest coverage ratio of 200.9x, with EBIT of $140m and interest payments of $700k. Additionally, distance-to-default, a key metric for risk of debt, is quite large (larger is better) as the cash on hand of Panera is $77.1m and the debt/equity ratio is 0.0%. Retained earnings and total equity are $346m and $495m, respectively. This suggests a large cushion prior to debt default in an extreme situation. In Appendix D, the large difference between Panera and its rivals in terms of debt load is clearly seen. Given that Panera has $153.2m in FCF, it is safe to assume that Panera could issue at the very least 1.0x FCF, though a safe debt load for a company can be as low as 2x EBITDA, or $400m in debt. With the average café costing $1.6m, Panera would be able to finance the expansion of its brand across approximately 250 corporate-owned locations internationally. As seen in Appendix E, Panera would be in the top three of its main competition with these new locations.

As with all public companies, Panera must return value to its shareholders while not ignoring the broader array of stakeholders with whom it interacts. FactSet estimates Panera’s 2010 sales growth at 10.4% with EPS of $3.41 per share, a 20.6% increase over 2009. Our proposed strategy would benefit the company both in the short term and long term. In the short term, sales would be increased and profit margin would increase by 500 bps to 770 bps based on specialty drink sales. If the international expansion plan is pursued, Panera would see sales growth in 2011 beyond the estimated 10.3% and EPS well beyond the projected $3.98. Though the increase in debt may force management to pay more attention to the cash flow of the company, the increased leverage will allow Panera to increase its ROE substantially. If Panera wishes to remain competitive, it must utilize its economies of scale to grow faster than competition and continually innovate, becoming the “fast follower” by utilizing adjacent industry innovations in its café atmosphere.

Appendicies can be found at Liekos Group’s website.

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Alex talks with Nigel Farage, British politician and the leader of the UK Independence Party. He is a current Member of the European Parliament for South East England and co-chairs the Eurosceptic Europe of Freedom and Democracy group. Alex also talks about the ongoing nuclear crisis in Japan and the Libyan invasion by the globalists. He also takes your calls. nigelforleader.co.uk www.infowars.com www.prisonplanet.tv www.infowars.net www.prisonplanet.com

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water4yourbestlife.com?site=CAYM http The Federal Reserve is Really a private banking cartel. The name federal was chosen to deceive the public. It’s as Federal as Federal Express! Beneficial knowledge is suppressed today by the powers to be. There is a conspiracy against your money. See how to profit from this knowledge

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The U Recycle plan is a unique plan to solve the under-utilized recycling system in American Campus complexes. Plan and video created by Devin Patel Team Members: Devin Patel Major:Finance,management( concentration in entrepreneurship) Grade: Sophomore This plan is a great opportunity to solve a large problem for the City of Harrisonburg and foster sustainability with college students Nicolas Acton Major: Engineering Grade: Freshman Class of 2014 As an Engineering student at JMU, one of my major focuses is the development of a sustainable lifestyle. Of course, one of the major components of a sustainable lifestyle is to maximize the reuse of items before they become waste. Through the use of the Urecycle program, I believe that we can help reduce waste in our community be promoting the reuse of many items that students are simply tossing in the trash. Katie Drzewiecki Major:Biology with a concentration in Ecology and Environmental Grade: Freshman I wanted to be a part of this project because I am interested in getting involved in ways to help sustain the JMU and surrounding community. The U Recycle campaign is a great way to spread the word about recycling and I’m glad I get to participate in it. Jessica Barger Marjor:Justice Studies Grade: Freshman This project interests me because recycling is a simple, easy way to help the environment. If JMU students had more convenient ways to go about their recycling who live in the surrounding apartment complexes involved, we as a …

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Answers to Journalists’ Questions Following the Meeting of the Eurasian Economic Community (EurAsEC) Interstate Council.Part 1 October 10, 2008 Bishkek Ответы на вопросы журналистов по завершении заседания Межгосударственного совета Евразийского экономического сообщества (ЕврАзЭС). 10 октября 2008 года Бишкек QUESTION: Dmitry Anatolyevich, today the Prime Minister of Japan talked about the possibility of convening an emergency G8 meeting on the crisis. Is he consulting with you about whether Russia would take part? And how effective do you think the efforts of the G8 can be? Thank you. PRESIDENT OF RUSSIA DMITRY MEDVEDEV: The idea really does exist. I spoke about this subject in Evian when I talked with Nicolas Sarkozy. I think that holding this kind of G8 emergency meeting would be beneficial. Unfortunately, over the summer we were not able to discuss the measures that should have been taken in more detail, though almost all states knew where everything was going. I personally spoke at the St Petersburg forum and then told our colleagues in Japan that we need a new system of economic security. Nevertheless, no such decision was made. And if they were not made then, we have to try and do everything possible to make them today. Therefore I certainly endorse the idea of an emergency G8 summit. We are holding consultations on this subject. While it is difficult to say when and where it will take place, it seems to me that it would be valuable. But if we do gather together …

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Your Partner Through the Seasons of Life! Our relationship with members like you is a true partnership. We work together to improve your financial well-being through education as well as beneficial products and services. No matter what stage of life you are experiencing, we have the appropriate tools and resources available for you. Whether you’re planning a vacation in paradise or cashing in your savings for an unexpected rainy day, we are your partner through the seasons of life!

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24/09/2011 Many people ask for what is “beyond’ or “above” or “more than” Islam; as if they have finished with Islam already; or, as if they have more than what Islam offers! Asteghfirullah! In tonight’s Sohbat, Mawlana clearly states, “What Lies Beyond Islam”. Mawlana also explains the factors that, due to the Muslims’ heedlessness, effectively worked to bring down the Muslim world to the state it suffers from now! Pekçok insan, sanki İslam’ı bitirmişler, veya sanki İslamın vereceğinden daha fazlasına sahipmişler gibi, “İslam’ın ötesinde” veya “üstünde” veya “İslam’dan daha fazla” ne olduğunu soruyorlar… Estağfirullah! Bu geceki Sohbette, Şeyh Efendi Hz “İslamın Ötesinde Ne Olabileceğini” açıkça belirtiyor. Şeyh Efendi Hz ayrıca, Müslümanların gafleti nedeniyle, Müslüman alemini şu anki perişan haline getirmek için etkin bir şekilde çalışan faktörleri açıklıyor.

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