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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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Wednesday, July 09, 2008
The Culinary Institute of America and Hormel Foods Create the Culinary Enrichment and Innovation Program
Comtex
AUSTIN, Minn., Jul 09, 2008 (BUSINESS WIRE) ----Hormel Foods Corporation (NYSE: HRL) and the company's Foodservice division have announced a partnership with The Culinary Institute of America (CIA) to provide a unique leadership program to an elite class of commercial and non-commercial chefs from around the country.
"We want to invest in the future of the culinary arts, creating an innovation-focused program to prepare today's best and brightest for leadership in the field," explained Dennis Goettsch, vice president of marketing, Foodservice division, Hormel Foods Corporation.
Goettsch approached leaders at The Culinary Institute of America (CIA), the world's premier culinary college, in the spring of 2007 with the company's vision. No such program existed, according to Dr. Victor Gielisse, Certified Master Chef (C.M.C.), Certified Hospitality Educator (C.H.E.) and associate vice president of the CIA. Gielisse noted the industry void in advanced education that provides perspective on creativity, innovation, leadership and management for chefs at the five-year and above experience level. The Culinary Enrichment and Innovation Program (CEIP) was created by the CIA and Hormel Foods to build tomorrow's culinary leaders and address a growing concern for employee retention by providing creative, competitive staff development.
Sixteen students will attend four highly intense three-day sessions at the CIA's Hyde Park Campus in New York over the course of 18 months. Each educational module will include classroom teaching from a select group of Certified Master Chefs based at the CIA (there are only 60 such chefs in the world), one-on-one interaction with leading industry culinarians, and hands-on time in the kitchen. CEIP curriculum has been created by the CIA in coordination with Hormel Foods. Graduates of the program will receive advanced certification from the CIA and become members of the Hormel Circle of Innovation.
Hormel Foods and the CIA will accept applications for the program through Aug. 1, 2008. Notification of acceptance will occur by Aug. 29, 2008, and the inaugural class will be held in October of this year. Interested parties will find the application and additional information on the program at www.ceipinfo.com.
"The values of innovation, leadership and entrepreneurship are at the heart of Hormel Foods' long-standing heritage," Goettsch said. "We are honored to partner with the CIA, the world's premier culinary college, to build this exciting and influential program."
About Hormel Foods
Hormel Foods Corporation, based in Austin, Minn., is a multinational manufacturer and marketer of consumer-branded food and meat products, many of which are among the best known and trusted in the food industry. The company leverages its extensive expertise, innovation and high competencies in pork and turkey processing and marketing to bring quality, value-added brands to the global marketplace. In each of the past nine years, Hormel Foods was named one of "The 400 Best Big Companies in America" by Forbes magazine. The company enjoys a strong reputation among consumers, retail grocers, foodservice and industrial customers for products highly regarded for quality, taste, nutrition, convenience and value. For more information, visit www.hormelfoods.com.
About The Culinary Institute of America
Founded in 1946, The Culinary Institute of America is an independent, not-for-profit college offering bachelor's and associate degrees, as well as certificate programs, in either culinary arts or baking and pastry arts. As the world's premier culinary college, the CIA has a network of more than 37,000 alumni that includes industry leaders such as Grant Achatz, Anthony Bourdain, Cat Cora, Harold Dieterle, Steve Ells, Todd English, Duff Goldman, Sara Moulton, Charlie Palmer, and Roy Yamaguchi. The college has campuses in New York (Hyde Park), California (The CIA at Greystone, St. Helena), and Texas (San Antonio), as well as an additional location in New York City (Astor Center, Manhattan). In addition to its degree programs, the CIA also offers courses for professionals and food enthusiasts, as well as wine education. For more information, and a complete listing of program offerings at each site, visit the CIA online at www.ciachef.edu.
SOURCE: Hormel Foods
Hormel Foods Sue Sorensen Lee, 952-926-2140 Foodservice Division Public Relations sue@leepublicrelations.com
Copyright Business Wire 2008 ********************************************************************** As of Saturday, 07-05-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated a DOWNTREND on 05-23-2008 for HRL @ $38.77. 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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