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Plastic house looks to the future
What is a plastic and why are the chemists so enthusiastic over them. Syntactic plastics are man –made substances which not only change their shape under great heat and pressure but change their chemical state as well.
They are light and hard, being produced by mixing together a number of gases and liquids. A synthetic or man –made product must be both better and cheaper than the natural material. Since plastics combine all the fine characteristics of a building material together with good insulation properties and are fireproof as well, it is no wonder that the architects and engineers have turned to them to add color and beauty to modern homes and offices.
The greatest advantages which plastics are expected to give the world is that they will make the people no longer dependent upon nature for their materials. A lot of decorative plastics now available has brought a revolution in interior and exterior design. These materials are sufficient rigid to stand on their own without any support. A laminate has been developed which is suitable for both inside and outside use.
Laminates combining politics with paper, wood or cloth have been used for table tops and walls and shatter-proof panels of reinforced plastics in various colors and degrees of translucency for control of light.
Conduits, ducts and piping are constructed of flexible plastics, many of them integrally formed into the wall and floor sections. Plastic strips have been used to seal openings and textured surfaces.
For interior use it is recommended for surfacing – or sometimes as structural material for kitchen, bathroom and lavatory walls, for doors, staircase walls, window sill, etc. Being used for surfacing, laminate gives the tough surface. Plastic hose include panel lighting, recessed lamps, and a built –in “sun”for tanning in the bathroom. A special communication system includes telephone phones, speakers, all of which are push –bottom controlled. The furniture is light and colorful, and is made from plastic, wood, metal.
26)Big law firms in U.S., U.K. are set to merge
Hogan & Hartson LLP, a powerful Washington law firm is on course to merge with Lovells LLP, one of Britain's largest and most prominent firms, according to people familiar with the matter.
If approved, the deal would create one of the world's largest law firms, with about 2,500 attorneys and $2 billion in annual revenue. It also would mark a rare combination of top-tier U.S. and British firms.
Though the merger talks could still fall apart, management committees for both firms will recommend the proposed deal to their respective partnerships, according to people familiar with the matter. Both firms would need their partners' approval for such a deal.
British firms haven't been able to become significant players in the U.S. market, industry experts say, because trans-Atlantic differences in culture and compensation practices have made it hard for them to acquire leading American firms. But the management teams at Hogan & Hartson and Lovells think they have a plan to overcome those obstacles, with Lovells likely shifting to a more-American approach to compensation.
The U.S. is "by far the largest legal market in the world," said law-firm consultant Peter Zeughauser, who is advising Lovells on the proposed combination. "This would enable Lovells to seriously penetrate the market in one fell swoop."
The Hogan-Lovells merger talks notable in that they come amid a severe downturn and at a time of soul searching in the legal world over business strategy. Many firms have been forced to lay off lawyers and scale back on hiring due to slowdowns in demand for corporate and litigation work. As a result, most firms in recent months have been loath to take on the risk inherent in any combination, lawyers say.
Still, the trend in recent years has been toward bigger firms that can offer clients expertise in many areas, from intellectual-property disputes to mergers, and can offer on-the-ground counsel in offices from Shanghai to Munich.
The proposed combination appears to be gathering steam. On Wednesday, Lovells' management committee met to discuss the business rationale behind the merger and the proposed structure of the combined firm. It later announced to Lovells partners that the committee was in favor of the merger. Hogan's management committee also gave it a vote of confidence Wednesday, according to people familiar with the matter.
One reason the firms might make good partners is that both have a strong practice advising clients on government regulations and antitrust law.
The Wall Street Journal October 2009
Raising Finance
When a company is growing rapidly, for example when contemplating investment in capital equipment or an acquisition, its current financial resources may be inadequate. Few growing companies are able to finance their expansion plans from cash flow alone. They will therefore need to consider rising finance from other external sources. In addition managers who are looking to buy-in to a business (management buy-in or MBI) or buy-out (management buy-out or MBO) a business from its owners, may not have the resources to acquire the company. They will need to raise finance to achieve their objectives. There are a number of potential sources of finance to meet the needs of a growing business or to finance an MBI or MBO:
Existing shareholders’ and directors’
Funds
Family and friends
Business angels
Clearing banks (overdraft, short or medium term loans)
invoice discounting
hire purchase and leasing
merchant banks
venture capital
A key consideration in choosing the source of new business is to strike a balance between equity and debt to ensure the funding structure suits the business. The main differences between borrowed money (debt) and equity are that, with debt, bankers request interest payments and capital repayments and the borrowed money is usually secured on business assets or the personal assets of shareholders or directors. A bank also has the power to place a business into administration or bankruptcy if it defaults on debt interest or repayments or its prospects decline. In contrast, equity investors take the risk of failure like others shareholders, whilst they will benefit from participation in increasing levels of profits and on the eventual sale of their equity stake. The overall objective in raising finance for a company is to avoid exposing the business to excessively high borrowings, but without unnecessarily diluting the share capital. This will ensure that the financial of the company is kept at an optimal level. Raising finance is dependanton a good business plan which demonstrates that the management is aware of all the risks involved. Raising finance is often a complex process. Business management needs to assess several alternatives and then negotiate terms which are acceptable to the finance provider. The main negotiating points are often as follows:
Whether equity investors take a seat on the board
Votes ascribed to equity investors
Level of warranties and indemnities provided by directors.