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Whether you're walking a tightrope or scribbling in your checkbook, balance is a good thing. And, one of the best ways to evaluate a company is to glance at its balance sheet to see what it owns with what it owes.
The balance sheet is a paragon of simplicity and is made up of three components: assets (the stuff it owns), liabilities (the money it owes), and shareholders' equity (the company's value to its shareholders).
Assets take two forms: short-term (or current) assets and long-term assets. Under short-term, there¿s good ol' hard cash. Then, there¿s something called "cash equivalents," which are assets like short-term bonds that can be sold so quickly, they might as well be cash. There you factor in inventory, which (if you're a reasonably competent business owner) you can sell to customers in return for--you guessed it--cash. (The raw materials a company owns to make that inventory also falls under this category.)
Long-term assets are things that are harder to convert into cash. (Think real estate and equipment.) Long-term assets depreciate, meaning they lose some value over time. Also under the long-term category are what's called intangible assets: things like patents and brands, that are important, but hard to quantify. Accountants earn their stripes figuring out the real overall value of these assets.
Once you know your assets, it's time for liabilities. As with assets, liabilities are separated into short-term or current, and long-term. Current liabilities are what a company owes in that year: Things like payments to employees or accounts payable to suppliers. Long-term liabilities are debts paid over several years.
Shareholders' equity is determined by subtracting the liabilities from the assets. That number represents the value of the company after all its bills are paid.
Obviously, investors should pay close attention to balance sheets. Spikes in the amount of debt carried, or a reduction in shareholders' equity, are usually red flags.
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Tuesday, May 27, 2008
Justice Department Settles Disability Discrimination Case With Connecticut Landlord for $115,000
Comtex
WASHINGTON, May 27, 2008 /PRNewswire-USNewswire via COMTEX/ ----The Justice Department today announced a $115,000 consent decree settlement to resolve a lawsuit alleging that a Windsor Locks, Conn., landlord violated the Fair Housing Act by refusing to grant a tenant's requests for a reasonable accommodation.
The lawsuit, filed on Aug. 1, 2007, in the U.S. District Court for the District of Connecticut, alleges that Mahmoud M. Hussein refused to grant a reasonable accommodation from his no-pets policy so that his tenant's minor daughter could work with an assistance dog to help with her cerebral palsy, seizure disorder, and depression. The lawsuit further alleges that Hussein retaliated against the mother and daughter after they attempted to exercise their rights under the Fair Housing Act by refusing to renew their annual lease and beginning eviction proceedings. The tenant and her daughter filed a separate lawsuit that also will be resolved by the consent decree.
Under the consent decree, which is pending approval by the court, the defendant will pay $115,000 in monetary relief, including $102,000 to compensate the tenant and her daughter and $13,000 in attorneys fees. Additionally, the defendant will attend fair housing training; implement a reasonable accommodation policy; and comply with notice, monitoring and reporting requirements.
"In this case, a child with severe disabilities was denied an assistance animal," said Grace Chung Becker, Acting Assistant Attorney General for the Civil Rights Division. "We are pleased that this settlement will compensate the child's family and protect their housing rights."
The lawsuit arose as a result of a complaint filed by the tenant on behalf of herself and her daughter with the U.S. Department of Housing and Urban Development (HUD). After an investigation of the complaint, HUD issued a charge of discrimination, and the complainant elected to have the case heard in federal court.
The federal Fair Housing Act prohibits discrimination in housing based on race, color, religion, national origin, sex, disability and familial status. Since Jan. 1, 2001, the Justice Department's Civil Rights Division has filed 247 cases to enforce the Fair Housing Act, 117 of which have alleged discrimination based on disability. More information about the Civil Rights Division and the laws it enforces is available at http://www.usdoj.gov/crt. Individuals who believe that they may have been victims of housing discrimination can call the Housing Discrimination Tip Line (1-800-896-7743), email the Justice Department at fairhousing@usdoj.gov, or contact the U.S. Department of Housing and Urban Development at 1-800-669-9777.
SOURCE U.S. Department of Justice
http://www.USDOJ.gov
Copyright (C) 2008 PR Newswire. All rights reserved
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