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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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Thursday, July 24, 2008
Air Canada builds partnership with Continental Airlines to provide expanded network, frequent flyer benefits and lounge access
Comtex
MONTREAL, Jul 24, 2008 (Canada NewsWire via COMTEX) ----Air Canada today announced that it has reached an agreement in principle with Continental Airlines, the fourth largest carrier in the United States, to provide customers an enhanced travel experience through access to a broader network and seamless services provided in cooperation by the two carriers.
"This is an exciting opportunity for Air Canada and Continental Airlines to develop a deeper relationship that will be of great benefit to our customers," said Ben Smith, Executive Vice President and Chief Commercial Officer. "Through cooperation with Continental, including a proposed codesharing arrangement, we will be able to offer customers traveling to the United States a vast array of enhanced travel benefits including more choice of destinations, new routings, expanded frequent flyer benefits and lounge access for eligible customers. At the same time, we will be able to realize greater efficiencies so we can compete more effectively. It is one of the many innovative ways we are responding to the high cost of fuel, by working with alliance partners for the benefit of our customers."
Air Canada and Continental intend, subject to obtaining regulatory approvals, to offer customers coordinated services and enhanced product offerings through codeshare, frequent flyer and lounge access agreements. Through Continental's hubs in Newark and Cleveland, Air Canada will offer more options to the eastern United States, and through Continental's Houston hub, greater access to the southern United States, Mexico and Central America. Air Canada's proposed alliance with Continental will give customers an expanded network that complements Air Canada's existing North American network with its Star Alliance partner, United Airlines. In June, Continental announced that it also plans to join Star Alliance.
In addition, Air Canada has also signed a multi-lateral framework agreement with Continental, United Airlines, and Lufthansa to create a transatlantic joint venture through which the carriers intend to provide customers with more choice and streamlined service to Africa, India, Europe and the Middle East. As a first step, nine Star Alliance carriers, including Air Canada, have filed a joint application with the U.S. Department of Transportation to add Continental Airlines to their existing antitrust immunity.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This disclosure may include forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are based on assumptions, are subject to important risks and uncertainties and cannot be relied upon due to, amongst other things, changing external factors and general uncertainties of the business. Results indicated in forward-looking statements may differ materially from actual results due to a number of factors, including without limitation, energy prices, general industry, market and economic conditions, currency exchange and interest rates, competition, war, terrorist acts, epidemic diseases, insurance issues and costs, changes in demand due to the seasonal nature of the business, the ability to reduce operating costs, employee and labour relations, pension issues, supply issues, changes in laws, regulatory developments or proceedings, pending and future litigation and actions by third parties, as well as the factors (including assumptions) identified in Air Canada's public disclosure file and accessible through SEDAR at www.sedar.com. Any forward-looking statements contained in this disclosure represent Air Canada's expectations as of the date of this disclosure and are subject to change after such date. Air Canada disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
SOURCE: AIR CANADA
SOURCE: AIR CANADA - ROUTE & NETWORK - FLEET
Copyright (C) 2008 CNW Group. All rights reserved. ********************************************************************** As of Sunday, 07-20-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated a DOWNTREND on 02-28-2008 for CAL @ $26.22. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright � 2004-2008 Comtex News Network, Inc. All rights reserved.
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