This episode shines above all the others of season 13 so far. Some of the funniest moments of the show involve Leslie and Ben agreeing to get married at a Gala where everything seems to be going poorly.
| Wednesday, November 21, 2012
IMPORTANCE OF MENTAL HEALTH
TRAINING
Law
Enforcement Effectively Taking Health Training
Subjects
The subjects include anyone from the Massachusetts
area who attended one of the two in service seminars helping to train law
enforcement to better deal with the mentally ill. The first seminar, “Reducing
Risk of Death in Custody,” (Vermette,
Pinals, & Appelbaum, 2005, p.43) was a training exercise which took
up almost a whole day. “Mental Health Issues for Law Enforcement Officers,” the
second training service, was three hours long and took place between October
2001 and May 2002. The purpose was to analyze how important mental health
training was to police officers, especially in the Massachusetts area. The survey will also
show how important different aspects of mental health are to officials.
Hypothesis
The hypothesis
regarding this particular research specifically addressed which aspects of
mental health law enforcement officers took most seriously. An educated guess
would be to assume that police officers will be found to have similar
backgrounds in education and find similar aspects of their job important. From
living in a big city, in an area where high drug use is found, the mental
health problems and ultimately crime that rise with addiction would be of an
increased importance to law enforcement than a smaller city.
Analyses
“Repeated measures ANOVA was used to determine if
there were significant differences (p _ .05) between mental health
topics and lecture formats. Repeated-measures ANOVA was also used to determine
the effect of education and experience on the ratings.” (Vermette, Pinals, & Appelbaum,
2005, p.43) Also, besides the
ANOVA, a t-test was run to see if there was substantial difference between
those who volunteered for the seminars and those who did not.
Results
Of the 150 tests given out, 126 were filled out and
returned, giving the test an 84 percent response rate. This rate should have
been much higher if the police offers want to potentially treat every single
individual with safety and proper justice.“Dangerousness” and “Suicide by Cop”
were the top two most important mental health issues to the officials, with
drug/alcohol problems coming in seventh. In addition to the survey, there were
12 comments for additional information about training as well. About 90% of the
law enforcement participants reported mental health being important or fairly
important (Vermette, Pinals, &
Appelbaum, 2005, p.44). The diversity of this importance arises because
everyone is affected by mental health issues. Ultimately, if police officers do
not efficiently deal with these issues everyone who lives under the enforcement
of these officials is at an increased risk of danger because they do not know
enough about how to handle these situations.
Discussion
Although only roughly half of those being surveyed
volunteered, the importance of mental health training seemed to reach those who
did not want to be there. Over 70% of
the officers also reported taking prior mental health care training, something
that also shows their belief that mental illness treatment is important. The
experiment could have been bias “Because
of the small sample size and potential bias of the study
population, it is not clear whether the findings from this survey can be generalized
to all police officers” (Vermette,
Pinals, & Appelbaum, 2005,
p.44) which shows a potential validity error in their work. Hopefully the
importance of proper law official training will result in every citizen to be
able to live a safer life.
Personal Opinion
I believe these
findings were very biased. The crime in Massachusetts is much different than
the crime in different areas of the world. Someone who is mentally disabled or
handicapped should not be treated with more aggression/ or “incorrectly” by law
enforcement because of a lack of understanding of the importance of the justice
which every individual under these officers jurisdiction has agreed to. I feel
that law officials need to be doing everything they can to better understand
people with mental illnesses from different areas, and this small sample size
does not do justice to figuring out what officials need to be doing country
wide to help.
References
Vermette, H., & Pinals D.,
& Appelbaum, P. (2005). Mental
health training for law enforcement
professionals. J Am Acad Psychiatry Law,
33:1, 42-46. Retrieved from http://jaapl.org/cgi/reprint/33/1/42
| Wednesday, November 21, 2012
Walt Whitman’s
“Song of Myself” was received with mixed reviews. His poetic genius was never
denied, but the greats such as Emerson found him too immoral. Whitman’s style
revolutionized his art and changed the way people read and write poetry. Whitman
as a person, the beauty of nature, and the good in humanity must be appreciated
before his poetry can take effect. In Walt Whitman’s “Song of Myself,”
specifically passage 21, Whitman’s connection with nature and mankind, his
vivid images, and his questioning of authority are all classic examples of who
Whitman is. All of these aspects create the iconic image of one of the greatest
American poets, Walt Whitman.
Whitman constantly
references to life in the first person in “Song of Myself”. But who is Whitman
really talking about when he uses “I”? At first glance it could be assumed
Whitman is only talking about himself and is simply writing down his inner most
thoughts. However, in the beginning of “Song of Myself,” Whitman shows what
exactly he means by “I” by recognizing “And what I assume you shall assume”
(2). He is using “I” to represent humanity as one or as a whole. Scientifically, there is less than a one
percent difference genetically amongst humans and Whitman, though he would not
of the scientific reason, feels a pull or a connection between himself and
others.
Whitman constantly
questions authority. Pure freedom and rebelliousness are idealized in his
writing. First and foremost, he ignored the traditional rules and regulations of
poetry. The rules had been set down centuries ago back when lyrical poetry was
the only means of song. Whitman has this rebellious energy festering inside him;
he blatantly and sarcastically asks “Have you outstript the rest? are you the
President?” (431). He is calling into question the president’s ability, but he
is also making the reader question what is important in life. Whitman, writing
in the 1850’s, was probably one of the first people to take the freedom of
speech amendment and make people start questioning why it was a law, especially
when he begins depicting what was seen as immoral or even unspeakable back
then- the naked human body, homosexuality, pan sexuality, and over-indulgence.
The rebelliousness
with which Whitman writes is refreshing and unique because no author at that
time had ever broken down the traditional style and made something completely
original. However, this sense of freedom which Whitman wrote with got him into
trouble. The lines “Twenty-eight young men bathe by the shore, / Twenty-eight
young men and all so friendly; / Twenty-eight years of womanly life and all so
lonesome (199-201) is particularly descriptive and sexual. Whitman felt free to
“cross the line” and give graphic descriptions. These fantastic descriptions of
nature and her beauty seen in “Song of Myself” were well received, but his
depictions of nakedness and what love could be were considered offensive and
immoral by most.
Instantly, from
reading “Song of Myself” one can tell that this poem is very different from
that of traditional poetry. First, it is broken up into 52 sections, commonly
believed to represent each day of the week in a year. Whitman’s style is so
enjoyable because it is so easy to follow and is also full of emotion. Unlike
traditional poetry, which required meter and a rhyme scheme, Whitman writes in
what could be compared to free-style today. His sentences and ideas run
together and there is a simplistic way of following from thought to thought;
however, this is not to say the ideas and morals presented were simple by any
means.
Whitman undeniably
shares a deep connection with mankind. Whitman, though his writing and ideas
separate him entirely from “the common people,” feels an innate bond with
humanity and this can be seen in is writing. His views on equality were
incredibly advanced for his time he writes “I am the poet of the woman the same
as the man, /And I say it is as great to be a woman as to be a man, /And I say
there is nothing greater than the mother of men” (425-427). Instead of focusing
on what separates humanity, Whitman is finding ways to bring it closer.
Whitman is in
touch with nature. With all of the modern technology and quick fixes out today
it is so important for mankind to get back in touch with what has sustained our
lives for millions of years, nature. Whitman, much like transcendentalist of
his time such as Emerson and Thoreau, wrote about this connection with nature.
Whitman’s writes “Smile O voluptuous cool-breath’d earth! (338) which is such a
loving and sexy way to describe the Earth, which many perceive as just dirt and
rocks. But Whitman on the other hand, is fired up and excited to be
acknowledging the earth.
Earth of the
slumbering and liquid trees!
Earth
of departed sunset—earth of the mountains misty-topt!
Earth
of the vitreous pour of the full moon just tinged with blue!
Earth
of shine and dark mottling the tide of the river!
Earth
of the limpid gray of clouds brighter and clearer for my sake!
Far-swooping
elbow’d earth—rich apple-blossom’d earth! (438-443)
Every sentence ends with an
explanation mark, which was Whitman’s way of making sure the reader each of
these lines with emphasis and passion! Whitman was overzealous for nature and
was excited to be able to simply experience something as beautiful as the grass
and trees. This is the zeal Whitman wants everyone to have for nature and
ultimately each other. Whitman’s excitement for the earth doesn’t stop there
and takes an almost sexual stance by writing “Prodigal, you have given me
love—therefore I to you give love! /O unspeakable passionate love” (446-447). Love is something Whitman emphasized because
it was another powerful emotion shared throughout humanity.
The
references to grass throughout “Song of Myself” show that although the poem
looks disorganized and clustered at a glance, there was a structure to
Whitman’s work. The poem constantly refers back to a blade of grass. No artist,
no matter how long he worked, could ever create something so complicated,
detailed, and functional as a blade of grass and this is something Whitman
appreciates and is seen in many of his other works.
However,
even though Whitman does not follow most of the traditional poetic guidelines,
he still uses literary devices such as alliteration. He writes “I chant the
chant dilation or pride, / We have had ducking and deprecating about that
enough, / I show that size is only development” (428-420). Not only does this
show that Whitman was not an ignorant poet just going about trying to be
offensive or break all the “poetic rules,” but this passage also gives an
excellent example of the passionate and action filled words Whitman loved to
incorporate. Not only was Whitman a lover of the unseen connections amongst
humanity, he was a lover of the physical connections too. He passionately
writes “Press close bare-bosom’d night—press close magnetic nourishing night!”
(435) which is a great example of Whitman connecting nature with a sexual
physical connections. These were not regular connections between people either,
but a “magnetic” pull which is difficult to pull away from, yet so many people
at that time were by ignoring their urges.
Whitman
draws inspiration from nature and held a rare insight into mankind’s true and
deepest thoughts, feelings, and urges. Despite those who felt Whitman was an
offensive lunatic, his works stay known as some of the best American poetry. In
Whitman’s “Song of Myself,” there are distinct examples of everything that made
Whitman unique- from nature, to “graphic” and vivid descriptions of the human
body, as well as Whitman’s questioning of authority. Whitman’s free spirit and
incredible insight are seen in “Song of Myself” and although sharing some
similarities with transcendentalist, Whitman is in a wonderfully unique league
of his own.
Works
Cited
Walt, Whitman. “Song of Myself.” The Norton Anthology of American
Literature.
Ed. Nina
Baym. New York : Norton, 2003. 1011-1055.
James Nader
ENGL-212-007
Dr. John Edward Martin
| Wednesday, November 21, 2012
Appeals
are how a writer/speaker tries to convince his or her intended audience.
Three of the “biggies” are logos, ethos and pathos.
Logos =
an appeal to reason. There are two types of appeal to reason, deductive and
inductive.
*Think-does the logic follow? Are the statistics skewed or unrepresentative?*
Deductive
argument-begins with a generalization and moves toward a specific
conclusion.
A famous example used by Aristotle himself:
All
men are mortal. (Generalization)
Socrates was a man. (Specific case) Socrates is mortal. (Conclusion about the specific case)
Inductive
argument-begins with pieces of specific evidence and draws a general
conclusion from this.
ex. Senator Kennedy argued, “in Georgia, blacks who killed whites received the death penalty 16.7 percent of the time, while whites who killed blacks received the death penalty only 4.2 percent of the time.”
(A
warning about statistics. You may have heard reference to a politician
“stacking the cards.” This means they use statistics to sway an audience, but
are not entirely truthful in using these statistics. There is even a book by
Darrell Huff called How to Lie with Statistics. For instance, a writer
may commit the ‘sin of omission’ in reporting a statistic: “Ninety percent of
Americans agree with President Clinton.” What they’ve omitted is, “that
take-out pizza is a wonderful thing.” This is an extreme example, but you get
my drift. While statistics seem to report a concrete truth, they can be
angled to one’s advantage. Your should be skeptical in reading
statistics and cautious in reporting them.)
 *Think: is the source credible?* ex. Jerry McCready, an American independent gubernatorial candidate said, “As a self-employed businessman, I have learned firsthand what it is like to try to make ends meet in an unstable economy being manipulated by out-of-touch politicians.”
Pathos =
an appeal to emotion.
*Think- is the writer simply “playing” me?* 
LA Tech 9-27-2009
|
| Wednesday, November 21, 2012
CF(ASSETS) = Operating CF – Capital spending – Additions
to NWC = $90
CF(BONDS) = Interest + debt retirement – proceeds from
debt sales
CF(STOCK) = Dividends + stock repurchase – new stock
issues
CF(ASSETS) = CF(BONDS) + CF(STOCK)
SHORT-TERM SOLVENCY RATIOS
Current ratio = Current assets ÷ Current liabilities
Quick ratio = (Current assets – Inventory) ÷ Current
liabilities
ACTIVITY RATIOS
Total asset turnover = Total operating revenues ÷ Average
total assets
Receivables turnover = Total operating revenues ÷ Average
receivables
Average collection period = Days in period ÷ Receivables
turnover
Inventory turnover = Cost of goods sold ÷ Average inventory
Days in inventory = Days in period ÷ Inventory turnover
FINANCIAL LEVERAGE RATIOS
Debt ratio = Total debt ÷ Total assets
Debt-equity ratio = Total debt ÷ Total equity
Equity multiplier = Total assets ÷ Total equity
Interest coverage = Earnings before interest and taxes ÷
Interest
PROFITABILITY RATIOS
Net profit margin = Net income ÷ Total operating revenue
Gross profit margin = Earnings before interest and taxes ÷
Total operating revenues
Net return on assets = Net Income ÷ Average Total Assets
Gross return on assets = Earnings before interest and taxes
÷ Average total assets
Net[Gross] Return on assets (ROA) = Net[Gross] Profit margin
× Asset Turnover
Return on equity (ROE) =
Net income ÷ Average stockholders' equity
Payout ratio = Cash dividends ÷ Net Income
Retention ratio =
Retained earnings ÷ Net Income = 1 – Payout ratio
MARKET VALUE RATIOS
Price-to-earnings (P/E) ratio = Market price per share ÷
Earnings per share
Dividend yield = Dividend per share ÷ Market price per share
Market-to-book (M/V) ratio = Market price per share ÷ Book
value per share
Tobin's Q ratio = (Market value of debt + equity) ÷
Replacement value of total assets
The ingredients of the financial planning model are:
1. economic assumptions,
2. sales forecast,
3. pro-forma financial statements,
4. asset requirements,
5. financial requirements, and
6. the plug (the
amount of additional capital needed to sustain growth).
External Funds Needed = (Assets/Sales)× DSales
– (Debt/Sales) × DSales
– (p × projected sales) × (1 – d)
where p is the
net profit margin (NI/Sales) and d is
the dividend payout ratio.
Economic assumptions (expected level and change in
interest rates, GNP growth, industry growth, etc.) necessarily underlie any
financial planning model. Given the estimated economic environment, the most
important variable in the financial model is the forecast of expected future
sales. This is the critical element of the analysis because many other
financial variables (e.g. cost of
goods sold, taxes, fixed assets, working capital, and profitability) are
usually expressed as a percentage of sales. The financial planning model will
be only as good as the sales forecasts. If a financial variable is assumed to
be independent of sales (e.g. Common
Stock Paid-in Capital), the most recent value is often used as the estimate in
the model.
Sustainable Growth
The plug variable in the financial planning model leads
our discussion directly into the issue of sustainable
growth. The assumptions of the sustainable growth model are:
1. Assets grow in proportion to sales: %DTA = %DS
2. Net income
is a constant proportion of sales: %DNI = %DS
3. Dividend payout (d) and debt‑equity (D/E) ratios are fixed
4. Number of shares outstanding is fixed
The sales growth that can be sustained without requiring
external funds is:
where
T = TA/S =
ratio of total assets to sales
P = NI/S =
ratio of net income to sales (net profit margin on sales)
d =
Dividend/NI = dividend payout ratio
L = D/E =
debt-equity ratio
Assumptions 1 and 2 hold investment policy, operations,
and returns on investment constant. Assumptions 3 and 4 hold dividend and
financing policies constant. The firm's sustainable growth rate depends on its
profit margin, its asset turnover, its dividend policy, and its capital
structure policy. The firm cannot grow at a rate faster than DS/S0
unless one of these factors changes or the firm seeks new outside debt or
equity financing.
1. Financial-planning models are too simple. The
model introduced in this chapter is a good beginning for the blueprint of
financial models. In practice, companies use more sophisticated approaches to
develop pro-forma financial statements. However, sales forecast often remains
the most important variable. A good financial model should recognize the
interaction between investment and financing policies. For example, if external
funds are needed, the issuing costs and additional tax benefits should be
incorporated in the capital budgeting analysis of the proposed projects. This
is another simultaneity problem because the amount of external funds needed
depends on the number of positive NPV projects.
2. Financial-planning models do not indicate
which financial policies are the best. If the capital structure of the firm is
assumed fixed, then the APV approach can be used to estimate the PV of the
financing effects. If the firm wants to change its capital structure, then we
face the dilemma of capital structure policy.
Read More:
Higgins, R.C.
"How Much Growth Can A Firm Afford," Financial Management, Fall 1977, pp. 7‑16.
Higgins, R.C.
"Sustainable Growth Under Inflation," Financial Management, Autumn 1981, pp. 36‑40.
Kester, C.W.
"A Note on Solving the Balancing Problem," Financial Management, Spring 1987, pp. 52‑54.
This chapter explains the algebra of the time value of
$$$ and net present value. NPV depends upon the size, timing, and riskiness of expected cash flows. In order to
focus on the time value of money, ignore the relationship between risk and
discount rate in this chapter. Asset pricing is introduced in Part III.
There are three ways to compute time-value-of-money
problems: with a financial calculator, with formulas, and with time value
factor tables (the real retro types will of course prefer those on the original
clay tablets). I derive the formulas in my lectures but require students invest
in a financial calculator. I allow students to use financial calculators during
examinations. A good understanding of the formulas is necessary to value more
complex cash flow streams in later chapters. You may wish to consider deriving
the formulas to give students a feel for this (I do). If you do so, have the
students put down any soft drinks that they may have brought to lecture, since
no one should drink and derive. After that, when doing problems in class, I use
the “calculator key” notation (e.g.
slide 4-31).
Time-Value-of-$ Relationship
We begin this session by introducing the
time-value-of-money (TVM) relationship:
FV = C0×(1 + r)T
where
·
r is
the interest rate per period
·
T is
the duration of the investment, stated in the compounding time unit
·
C0
(also called PV) is the value at period 0 (beginning of the investment)
·
FV
(also called Ct+T) is the value at period t+T (end of
the investment)
·
Compounding frequency: how often is interest
calculated
Compounding solves for the value at the end of the
investment duration (FV) and discounting solves for the value at the beginning
of the investment duration (PV).
Alternative forms of the TVM relationship:
Solving for future value: Ct+T = Ct × (1 + r)T
Solving for present value: Ct = Ct+T ÷ (1 + r)T
Solving for the discount rate: r = (Ct+T ÷ Ct) 1/T
– 1
Solving for the time period: T = ln(Ct
÷ Ct+T )÷ ln(1 + r)
In an introductory course, derive the alternative forms of
the TVM relationship in class. For more advanced courses, introduce the basic
TVM relationship and assign problems that require students to solve for
interest rate and time period
| Wednesday, November 21, 2012
The growing number of stimulant prescriptions for minors is unethical and harmful to society.
I. The harmful physical and mental side effects of stimulants make unnecessarily prescribing them to children unethical.
A. Mental health problems often develop in youth medicated with amphetamines.
1. The potential for cocaine addiction doubles and children treated with stimulants are subject to increased risk of addiction, depression, and suicide, as well as psychosis and permanent biochemical imbalances.
2. John Murray in his 1998 article “Psychophysiological Aspects of Amphetamine-Methamphetamine Abuse,” discusses the addiction to stimulants which develops quickly, especially in children and those struggling with depression. (Murray, 1998)
3. According to Adriana Bobinchock and Laura Neves, authors of “Early Ritalin Exposure May Cause Long-Term Effects on the Brain” published December 2004, animals treated with stimulants show more evidence of a dysfunctional brain reward systems in adulthood. (Bobinchock and Neves, 2004)
B. Physical health complications such as cardiovascular disease, seizures, tics, headaches, and stomachaches are results of the prevalent prescriptions for stimulants.
1. According to doctors Harvey Simon and David Zieve authors of “Risk of ADHD Medications” last updated January 2009, stimulant medication has been associated with sudden death in children. (Simon and Zieve, 2009)
2. The risks to health associated with amphetamine use at a young age cannot be understood by a child, nor can they understand alternatives.
II. Stimulant alternatives to treating attention problems are healthier and offer long-term treatment.
A. According to an October 2000 journal by Alexander Morton and Gwendolyn Stockton, in “Methylphenidate Abuse and Psychiatric Side Effects” despite the health risks the number of children diagnosed with ADHD has increased 2.5-fold in five years, 3-5% of kids are now believed to suffer from ADD or ADHD. (Morton and Stockton, 2000)
B. Alternatives to powerful stimulants include exercise, diet, sleep, and therapy which improve the quality of life in the short term and long term.
1. According to David Kaminester, in “Attention Deficit Hyperactivity Disorder and Methylphenidate: When Society Misunderstands Medicine” published in 1997, treatments have a short half-life of 2-3 hours and thus require multiple daily dosing which leads to tolerance. (Kaminester, 1997)
2. Long term use also greatly increases the potential for negative side effects such as amphetamine addiction, stroke, and cognitive problems. (Murray, 1998)
III. Economic problems and environmental issues cannot be solved by prescribing stimulants.
A. The quick-fix of prescribing students amphetamines only encourages a weaker and less effective educational system.
B. Poverty in urban areas and the diminishing role of family values decreases motivation regardless of mental enhancement and spikes in prescriptions covered by Medicaid puts a strain on the tax payer.
Murray, John. “Psychophysiological Aspects of Amphetamine-Methamphetamine Abuse.” Psychology Department St. John's University.1998 Web. 28 Oct 2012.
Bobinchock, Adriana, and Neves, Laura. “Early Ritalin Exposure May Cause Long-Term Effects on the Brain.”McLean Hospital. 12 Dec 2004. Web. Oct 28 2012.
Simon, Harvey, and Zieve, David. “Attention deficit hyperactivity disorder – Medications- Risks.” University of Maryland Medical System. 22 Jan 2009. Web. 28 Oct 2012.
Morton, Alexander, and Stockton, Gwendolyn. “Methylphenidate Abuse and Psychiatric Side Effects.” Primary Care Companion to The Journal of Clinical Psychiatry. Oct 2000; 2(5): 159–164.
David D. Kaminester. “Attention Deficit Hyperactivity Disorder and Methylphenidate: When Society Misunderstands Medicine.” McGill Journal of Medicine 3: 105-114(1997).
| Tuesday, November 20, 2012
We
look to provide a fresh and entertaining atmosphere for the local nightlife
specifically the college and adult demographic. Through better performances of
local bands, good drinks and well cooked food, all at reasonable prices,
Lucky’s Den will earn credibility with its customers. We are a unique fine
dining/bar and our flexible hours separate us from competitors who only offer
dining or a bar. By focusing on well populated areas, as we expand, we will
rely on customer satisfaction to keep our business rolling. We will have loans
paid off over a period of about 5 years. We hope to have a good team of
managers and supervisors working as well to keep our business running
efficiently and smoothly. By offering multiple afternoon services, we appeal to
a larger demographic. Opening locally in such a small area, with multiple bars/
dining places already established, we will open in a more densely populated
area, and will become a well known name.
We
will distribute our product (food/drinks/entertainment) the best. We will have
trained and skilled bartenders, waiters, security, and chefs. The dining
experience will be one of a kind and the food will be cooked to order with the
best ingredients. We will look to be an entrepreneurial firm, and have no
problems establishing our chain of services nationally, after our profit from
sales from our southern areas are enough. We will operate functionally, with
each team in Lucky’s Den working on a common goal. Those working specifically
with food will be grouped accordingly- chefs, cooks, waiters, bus boys etc. and
will have their own supervisor. The DJ and floor hostess will also be
coordinating with each other and human relations to make sure the people paying
to be at our club are having a good time.
Our
ownership is in the form of a co-owner/ partnership. Both Mr. Groce and Mr.
Nader will be executive owners to the business and will have ultimately the
last say on most matters. We would both attend our club during its initial
start up, however, after chains have been established, we will need to look for
new members of our bureau to keep us organized and efficient.
Our
mission statement realizes that the customer is our only way of staying in the
dining/club business. We need the customer to be relaxed and able to enjoy
themselves. We are an ethical business and will accept only the finest looking
resumes regardless of cultural of functional barriers. We hope to be well
established quickly and that our two main demographics: young nightlife adults
and older fine dining adults will both be able to enjoy themselves.
Our
strategic plan is to have a big time Opening Night. We want to jump head first into
this industry.
We
will work hard and provide the customer with what they want, at the price they
want it for, when the customers wants it. We will focus on customer’s
satisfaction and will work to separate ourselves from the competition, because
there are not many businesses looking to accomplish what we are. In conclusion
of this executive summary, our restaurant/club will be found enjoyable by all
who arrive- either to eat dinner or to party.
The
business we plan to open provides entertainment and is also going to be a restaurant.
This business attracts a certain demographic- young adults and older adults.
These young adults are looking for a good time in the nightlife, while our
older demographic would be interested in our dining services. The building we
are looking at is two stories. The first would be fully furnished for a dining
experience. The second floor would be more nightlife friendly. It will have
large televisions, a bar, pool tables, and dart boards. Financially, we will
acquire a small loan from the bank. Both Mr. Groce and Mr. Nader will be partners
as co-presidents and owners of the nightclub known as “Lucky’s Den.” The
presidents will conduct interviews to establish management and financing.
Liquor
laws, while affecting nightclubs, has not stopped 45,000 nightclubs in the
United States to open. There were multiple websites online offering information
on the risks associated with opening a nightclub. Clubs in the United States collect
an annual revenue of 18 billion dollars. The industry is also very fragmented. The
largest nightclubs, in heavily populated areas such as Law Vegas or Miami, only
account for 5% of the 18 billion annual revenue. This gives our club a window
for great success. Since 2009, recreational and entertainment activities such
as bars and nightclubs rose 1.9% in 2010.
Knowing
who would come to our establishment would be very important. We have access to
connections who know about the music and social trends within the age groups we
are aiming for. The head of operations would acquire our alcohol selling
license as well as any other government documents needed to open our restaurant
and club. With the economy as bad as it is, our club is going to provide
affordable prices, especially for college students, and many specials to appeal
to consumer trends. Specials such as Lady’s Night, Blackout, Greek Night, and
quarter pitcher night are going to make our business profitable. An interior
designer would design the inside of the club and make it appealing to our specific
demographic. We would create a cool atmosphere with good DJ’s, attractive
waitresses, and a stylish interior. The security would be tight as to keep
underage drinking to a minimum, and make sure only a good crowd would come in.
After
spotting a prime area for our nightclub, we would establish a financial
statement with inventory, rent deposits, loans, down payments, and
managerial/employee training. We want our management to be well educated and
efficient. We will also hire accountants to explain how our business loan will
be paid off over a period of about 10 years. This area will be easy to access
and convenient for our customers. Our main demographic needs to be able to
locate and get to our restaurant/bar/club.
Opening
a bar/club in a well populated area lowers our risk of being ignored because of
already established local competition. We will out-perform our competitors.
Working as a restaurant, then a more casual bar/club, opens up our demographic
to anyone looking for a well cooked dinner as well as those looking for nightlife.
We have the marketing research needed to be successful. High population areas
will be of key interest to us, because that is the environment which our
business prospers in.
We
will open at 430 pm for those looking for fine dining. Drinks and food will be
made to order. After 10 pm, once a different crowd gets in, we will have less
people working in the kitchen and the focus will be on the upstairs. We will
stay open until 5 am. As co-presidents we will monitor our business functions
closely for the beginning of our start up.
Our
short term goals, within the first year, are to establish a good reputation
through a successful opening night. We will want to have people talking about
it. Also we will begin to pay off debt, by setting aside a portion of our
profit. This will be the main responsibility of our financial advisor. We want
customers to have a unique and fun experience. Whenever someone is bored and
looking to have a good time, we want them to think of our club.
Our
medium goals, for the second through fifth year of our business, as our
reputation and profits increase, we can afford to have celebrity guests and
also more popular live converts. While still trying to appeal to an ever
changing marker, financially, we will continue to pay off all loan debts and
aim to be paid off towards the end of our fifth year of operation. We could
also pass out surveys to see where we stand with competition and what our
customers want. We will keep the nightclub clean, up-to-date, and also will
also appeal to new demographics, as college students graduate and move on. We are
looking to expand throughout the south. As we expand, we will continue to work
at lowering prices, despite a poor economy. We will continue to prosper as
external factors: economy, government, consumer trends, and corporate
citizenship.
We
will run our business ethically and will make sure that not only are our
customers happy but also our employees. Our employees will receive benefits and
compensations the longer they work and establish themselves as key factors to
our businesses success.
Our long-term goals, which are five years in the future,
are to develop chains throughout the south. Our reputation will have grown and
our business will have a set way of getting things done most efficiently and
effectively. Our establishment will be a more recognized name and we will have
paid off all loans. In a matter of a short time we will have gained the
experience needed to handle any situation that may come up in our business. We
will have well documented reports on the functioning and operations of our
business.
Even though the economy is not thriving, and laws
restrict some demographics from a full experience at our restaurant/bar/club,
our business will prevail. A restaurant and a nightclub will be new to the
southern market. We hope that multiple atmospheres and a well managed/trained
staff will make for an easy transition into the market which will eventually
result in income.
Marketing wise, our prospective audience is going to be
anyone locally looking for nightlife in Shreveport. The market is thriving
especially because of our opening areas high population. We will enter the
market with an elaborate opening night and continue to establish credibility.
Our company will be advantageous because a better atmosphere will result in
happy customers and more profit. Our product will be better (food, atmosphere,
drinks, overall quality), our price will be cheaper because we will have our
funds closely watched and will gain popularity. Our place will be nicer and
more convenient. It will be in a well known location and far enough from
schools to not violate any state alcohol laws. Our promo will be to establish
credibility with our consumers. We will advertise frequently and work to the
standards our customers expect.
Financially,
we will take out a loan of 180,000$. In addition to the loan, we will have
stakeholders contribute $50,000. This will cover the mortgage, managerial fees,
and restaurant related fees such as cooks, food, cooking appliances, etc. This
money will also have enough to pay for a DJ, security, an alcohol/restaurant
license, furnishing, and the grand opening of our bar and grill. 50,000$ will
go towards re-decorating and re-modeling the newly owned building. This will
include the latest televisions, pool tables, dart boards, sound systems, and
any leftover money will be put towards lowering our business loan. We need our
staff to be knowledgeable, experienced, and motivated. If our business
continues to grow in success, we hope to have our name talked about a lot. We
will use primary and secondary data to factor in additional costs or
interruptions. Our contingent workers
will work on Fridays and Saturday nights. We will hope to pay off our business
loan quickly, and also hope to have many investors invest money into our
company.
Job
specification will be at least a college degree for managers. We are looking to
establish a higher end experience, not a ratty looking restaurant/club. The
lighting will be perfect and the sounds will be clear. We will always remain
polite and courteous.
We
will also have our establishment inspected by local and federal regulatory
agencies such as fire and health inspections. The risks associated with opening
this business include an already established local competition. For the first
2-5 years we hope to pay the bank loan off and begin a successful establishment.
Advertising will be expensive but will ultimately result in profit for the
establishment. Local businesses such as Suddenlink will help our new business
in the local area on television. We will also have radio ads and billboards
advertising our bar and grill. We will have a website and also a FaceBook page.
Our income will come from food, drinks, and entertainment. We will also be available for potential
investors. We will look to add better local bands as our club progresses.
We
will outweigh competition by being above the standards and also by having
multiple menus and multiple functions going on at different times during the
night. This will attract a larger crowd and result in higher income. We will
have a Dinner and Late Night Menu which will include the foods we continue to
serve after our main kitchen shuts down at 1130 p.m. These meals are easy to
cook and are not messy The menu is:
|
Dinner and Late Night Menu
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Buffalo Wings
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Hamburgers
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French Fries
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Chips and Dip
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Chicken Sandwhich
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*Ask your server about beverages
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For
the first month, we will pay for cooks, managers, and floor workers a salary of
35,000$ total (not including tips). Food and liquor for our grill will equal
about 7,000$ monthly. Electricity and Insurance will be an additional 8,000$.
Because it is our first month, our Opening Night will add approximately $1,000
dollars onto our first monthly debt. Lighting and additional costs have been
added in as well. We will make a profit of about 15,000$ a piece at the end of
our first month, through revenue on food, drinks, performances, celebrity
appearances, and any other operations which result in a profit.
We
will be online if anyone wants to order shirts, rent the club out for a night,
or get contact information. Our focus is on customer satisfaction and that they
feel as confident about our start-up as we do. We will have strict online
privacy, and customers will not have to worry about phishing or us sharing
their email. We will have a firewall and also encrypted data to ensure customer
privacy.
Future advertisements will include celebrity endorsements
and Superbowl commercials. We want our customers to have a fine dining
experience and also to have fun and let loose after hours. We will have Happy
Hour Specials on drinks and will keep food prices fair, but they will be such
fine meals that lowering a price too much may drive away those looking for
exactly what we provide- a well cooked meal with the best ingredients. We will
be well managed and a properly functioning establishment. This will come
through employee training and the reputations which our interviewing managers
have established with us. The middle line managers are known to be very
knowledgeable and efficient.
Lucky’s Den primary ownership will be in the form of a
partnership. Local investors can also look to own some of the establishment. We
will have middle management that fulfill many important financial and customer
relations needs. Bottom line management is also very important and will
supervise our employees closely. Should any disputes arise over executive
decisions, a third party could always help through mediation or arbitration.
| Tuesday, November 20, 2012
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