Payday Loans Are They As Bad - 894 Words

Payday Loans - Are They as Bad as Some Make Them Out to Be? Payday Loans - Are They as Bad as Some Make Them Out to Be? Payday loans fulfill real-world needs for families that can t cover emergency expenses from their savings. Even people with stellar credit can t always negotiate loans quickly enough when a financial emergency arises. The premise is simple: Short-term loans are available, even for people with low credit scores, and people can get money into their accounts faster than trying to get approved for a traditional loan. Payday loans are strictly for short-term purposes when the borrowers can afford to repay the amount, interest and fees from their next pay period. Credit.com reports that these loans are justifiable when used as intended. Unfortunately, people don t always do what s best, and some borrowers recycle their debts by renewing their short-term loans or borrowing from multiple lenders. Competitive lenders cite these debt traps as evidence that payday loans are bad choices, but any kind of credit can lead to abuses that trap people in cycles of debt. Payday loans are just tools that people should be able to choose as long as they re legal in the applicable state. Most of the industry s criticism is politically motivated and calls to mind the classic meme of a scout trying to help an old lady across the street when she doesn t want to go. Politicians are filled with good intentions to legislate from ivory towers while down-to-earth people struggleShow MoreRelatedEssay On Pay Day Loans1040 Words   |  5 PagesGreat tips on how to get approved bad credit payday loans Bad credit payday loans have gained popularity over the years. Today, millions of Australians rely on these loans to settle their immediate financial challenges. Unlike other types of loans, payday loans are approved within the shortest time. In less than 24 hours, you are assured of money in your bank. 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Payday loans are one of the most convenient ways of getting a cash advance today with practically no paperwork or other hassles. Defining Payday loans Payday loans are a short-term cash advance, when it is needed the most...usually between paydays! Payday loans are a great way to get some cash to tide you over to your next paycheck. The goal of payday loans is to assist you with finances

The Epidemic Of The Aids Epidemic - 2044 Words

The beginning of the AIDS epidemic started in 1981 when the first case of an unknown disease was publically announced. Since its publication the human immunodeficiency virus and its autoimmune deficiency syndrome have sparked many concerns, medically, ethically, and socially. The following documentary and films expressed awareness to the public, they are: Documentaries: †¢ Common Threads: Stories from the Quilt †¢ The Age of AIDS †¢ On the Downlow †¢ Reporter Zero †¢ End Game: AIDS in Black America †¢ Silver Lake Life: The View from Here †¢ Hope is the Thing with Feathers Feature Films: †¢ Philadelphia †¢ Jeffrey †¢ And the Band Played On Over the course of the semester, the films have been analyzed ethically rating their values on society. The†¦show more content†¦During the time of the AIDS epidemic, the Reagan Era was in full effect. As of 1982, President Ronald Reagan had not used the term AIDS in public, while his press secretary made jokes of the deadly disease. It is not until 1985, that Reagan speaks of AIDS publically to which roughly approximately 6,000 people have died. However, it isn’t until 1987 and 20,000 deaths later that Reagan identifies the disease as â€Å"public enemy number one† (The Henry J. Kaiser Family Foundation, 2003). The political events sparked public controversy since the medical community had made very little advancements pending the increasing death toll. It was with the three documentaries The Age of AIDS, Reporter Zero, and the feature film And the Band Played On the medical struggle was revealed. In The Age of AIDS and The Band Played On that the struggle sc ientists battled to find the culprit of disease. For example, in The Band Played On, the French scientists at the Pasteur Institute raced against the clock to identify the virus that was causing the public havoc. The political issue of international boarders becomes evident when Dr. Robert Gallo’s team is slower in the race. In which Gallomakes a questionable move plagiarizing facts to make it look like his team and the French have identified the same virus, at the same

Business Plan Joes Vinegar Essay Example For Students

Business Plan Joes Vinegar Essay Joe’s Original Seasoned Vinegar MARZ Foods, LLC Executive Summary MARZ Foods, LLC is a manufacturer of 100% all natural seasoned vinegar that is healthy and delicious. The first product we will launch is Joe’s Seasoned Vinegar. The recipe was handed down in the owner’s family for at least four generations, and we are ready to share it with the world. This is the first condiment of its kind and currently it has no competitors. Joe’s has several marketing points. For one, there’s no other product like it. Through the use of a food broker and taste sampling, we are confident our product will be a huge success. Second, the target market is huge. Nearly every person of grocery-purchasing age will have a reason to try Joe’s Seasoned Vinegar. Whether it is a young person that is interested in great tasting zero calorie foods, a parent that would try anything to get their children to eat vegetables, or an elderly person that needs no-salt condiments, Joe’s Seasoned Vinegar is the product of choice! This yields a local target market of over 75,000 and over 110 million nation wide. It is possible that our seasoned vinegar is really good for you! Studies show that apple cider vinegar and garlic, two of Joe’s Seasoned Vinegar’s ingredients, help lower high blood pressure, lower cholesterol, prevent blood clots, prevent cancer, and protect against bacterial and fungal infections. Lastly, the product has an incredible lab-tested shelf life of 24 months. This means there is minimal risk for both the retailer or for MARZ Foods, LLC. The owners/operators of MARZ Foods, LLC are Nicole Martin and Barry Muslow. Barry is in the process of being trained by Johnson Wales as a chef and has owned and operated several successful entrepreneurial ventures. Nicole has over 8 years in project management experience. Nicole and Barry’s dedication and past experience will ensure sustainable growth for MARZ Foods, LLC’s product line. MARZ Foods, LLC believes we will reach profitability by the end of 2008 and forecasts nearly one million dollars in net profit in just two years. The financials within the plan further reinforce the exciting projected business. 1. Objectives MARZ Foods, LLC has several objectives that they will achieve within the first three years. The first is an increase in sales reaching over one million dollars by the end of 2009. MARZ Foods, LLC will strive to get gross margins to be above 50%. MARZ Foods, LLC hopes to be selling mass quantities to grocery and wholesale stores through the use of a food broker by the third quarter of 2008. Sales should reach over one million dollars by the end of 2009. 2. Mission MARZ Foods, LLC’s mission is to provide delicious condiments that are 100% all natural, organic, healthy, and delicious. 3. Keys to Success †¢ Delivering high quality 100% natural products at an affordable price. †¢ Producing products with a long shelf life. Providing service, support, and a better than average margin to our retailers. †¢ Increasing net cash flow to over ten million dollars by the end of 2010. 1. The Company MARZ Foods, LLC’s mission is to provide delicious condiments that are 100% all natural, organic, healthy, and delicious. The launch product is an old family recipe that tastes amazing and may have medicinal side effects such as being able to help lower high blood pressure (this claim has not been substantiated by any medical professional or group). The immediate goals are to produce and sell our product in the local farmers’ markets and specialty stores, then to incorporate selling of the product at in-state festivals, and eventually expanding to grocery chains and wholesale clubs state and nation wide. MARZ Foods, LLC will continue R activities to experiment with new flavors to guarantee the long-term success of the company. 1. Company Ownership MARZ Foods, LLC is a privately held corporation owned in total by its co-founders, Nicole Martin and Barry Muslow. 2. Company History MARZ Foods, LLC has been hindered only by the lack of working capital it had in its initial stages of setup and operation. Sales are growing steadily. In order to make significant headway in this area, additional capital is needed to pay for a food broker to market our product and the initial production run at the manufacturing plant. According to Net Industry, a food broker is a sales agent that negotiates sales for producers and manufacturers of food and food products. Producers and manufacturers often sell through food brokers rather than directly because it saves the cost of paying a sales staff to market their products. Coincidentally, since food brokers represent a large number of producers, the wholesalers and retailers also save time and money by dealing with one broker rather than with many manufacturers representatives. By utilizing a food broker, demand for our products will dramatically increase and we will need to utilize a manufacturing plant to produce our product. The initial production run will be costly; however the cost will significantly decrease after the first run. 3. Past Performance   Past Performance | | | | | |2006 |2007 |2008 | |Sales |$0 |$2,700 |$900 | |Gross Margin |$0 |$1,350 |$450 | |Gross Margin % |0. 00% |200. 00% |200. 0% | |Operating Expenses |$0 |$4,525 |$420 | |Inventory Turnover (per 50 |0 |3 |2 | |cases) | | | | |   |   |   |   | |Balance Sheet |   |   |   | |   |2006 |2007 |2008 | |Current Assets |   |   |   | |Cash |$0 |$0 |$50 | |Accounts Receivable $0 |$0 |$0 | |Inventory |$0 |$0 |$1,725 | |Other Current Assets |$0 |$0 |$0 | |Total Curre nt Assets |$0 |$0 |$1,775 | | | |Long-term Assets |   |   |   | |Long-term Assets |$0 |$0 |$0 | |Accumulated Depreciation |$0 |$0 |$0 | |Total Long-term Assets |$0 |$0 |$0 | |Total Assets |$0 |$0 |$1,775 | | | |Current Liabilities | |Accounts Payable |$0 |$0 |$0 | |Current Borrowing |$0 |$0 |$0 | |Other Current Liabilities |$0 |$0 |$0 | |(interest free) | | | | |Total Current Liabilities |$0 |$0 |$0 | |Long-term Liabilities |$0 |$0 |$0 | |Total Liabilities |$0 |$0 |$0 | |   | |Paid-in Capital |$0 |$0 |$5,000 | |Retained Earnings $0 |$0 |($3,145) | |Earnings |$0 |$0 |$0 | |Total Capital |$0 |$0 |$1,855 | |   | |Total Capital and |$0 |$0 |$1,855 | |Liabilities | | | | |   | |Other Inputs |   |   |   | |Payment Days |0 |0 |0 | |Sales on Credit |$0 |$0 |$0 | |Receivables Turnover |0 |0 |0 | 4. Company Locations and Facilities Currently we have one location in Melbourne, FL. It includes the production area and warehouse area. We currently pay for only the space we need, and can expand to retain much more product. However, once the food broker has marketed our product in markets nation wide, the demand will increase. When we can get those orders in, we are prepared to subcontract a manufacturer who will produce our product for us at a minor increase of cost. The subcontractor will require one week’s notice and in that time we will be able to provide the product’s supplies. Both our production practices and that of the subcontractor provide a high quality, healthy, delicious food product. 2. The Product For many years, the food industry was dominated by fast and easy food, regardless of how unhealthy those foods were. With obesity at an all time high, and heart disease being the number one killer of people in the United States (CDC 2008), people are now taking a closer look at the foods and condiments they intake. People are looking for heart-healthy, salt, and fat free condiments to season their food. 1. What is Joe’s Seasoned Vinegar Joe’s Seasoned Vinegar is a simple blend of apple cider vinegar, garlic, and spices that produces a very complex and interesting flavor. The combination of garlic and spices transforms the taste of the apple cider vinegar in a truly unexplainable way. It’s an old family recipe that has been passed down for at least four generations, and is absolutely delicious. This is a perfect example of the whole product being more than just the sum of its parts. Joe’s Seasoned Vinegar contains no calories or traditional nutritional value. It can be used to marinate meat, fish, poultry, and vegetables. It can be used as a salt-free additive to vegetables, beans, meat, poultry, and fish. A Journey Through Writing EssayMARZ Foods, LLC plans to subcontract the manufacturing of their products once product demand reaches a level beyond their ability. MARZ Foods, LLC does not plan to purchase capital equipment or any real estate. Therefore, there are three different product exit strategies. The first strategy is our most profitable, which is to license the production of our product to another food production company. The second is to sell our trade secrets to another food production company. Lastly, should MARZ Foods, LLC decide to end production, we could sell any left over product at any price necessary to remove it from our subcontractor’s warehouse. 5. Organizational Structure 1. Management Summary MARZ Foods, LLC was founded by Nicole Martin and Barry Muslow and has always operated without the burden of payroll or salary expenses. Barry Muslow, President Barry assists with preparation and production of the seasoned vinegar, maintains inventory of the finished product, is responsible for packing and shipping and/or delivery, and assists with record keeping. Barry is responsible for marketing and promoting Joe’s Seasoned Vinegar locally. Nicole Martin, Vice President Nicole is currently responsible for preparation of the seasoned vinegar including preparing, bottling, labeling the product. She also maintains inventory of and purchases all supplies. Nicole maintains company and financial records. To date, neither owner has collected a paycheck from the company. However, as orders are processed and goals are met, plans are to subcontract the production to a manufacturer to take production out of our hands. Once sales reach a specific point, we plan to pay each owner as full time employees. We are forecasting this to transpire in the second quarter of 2009. 2. Organizational Structure MARZ Foods, LLC’s planned organization calls for product development, finance, and administration, which will continue to be handled by the owners. Production will be subcontracted out to a manufacturer. A food broker will handle sales and marketing. 6. Financial Plan MARZ Foods, LLC is forecasting very rapid growth for Joe’s Seasoned Vinegar this year. Although this may seem ambitious based on historic sales, this rate of growth is due to the employment of a food broker. The food broker we have selected has proven sales, references have been researched in full, in major food stores such as Kroger, Roche Brothers, Shaw’s, and B. J. ’s Wholesale Club. 1. Important Assumptions The financial plan depends on important assumptions, most of which are shown in the following table. The key underlying assumptions are: †¢ We assume a slow-growth economy, without major recession. †¢ We assume, of course, that there are no unforeseen changes in the consumer market to make products immediately obsolete or out of favor (or not increasing in popularity). We assume access to equity capital and financing sufficient to maintain our financial plan as shown in the tables, addendum, and additional documentation |General Assumptions | |   |2008 |2009 |2010 | |Plan Month |1 |2 |3 | |Current Interest Rate |3. 00% |3. 00% |3. 00% | |Long-term Interest Rate |0. 00% |0. 00% |0. 00% | |Tax Rate |0. 00% |0. 00% |0. 00% | 2. Key Financial Indicators The most important financial factor for MARZ Foods, LLC’s Joe’s Seasoned Vinegar product is the ability to procure financing that will allow us to progress to the next level. As demand for our product increases, our production cost will decrease due to purchasing supplies at increased volumes. This will lower our product cost and will enable us to pass our savings on to our customers and through to the consumers. 3. Break Even Analysis The break-even analysis shows that MARZ Foods, LLC has a good balance of fixed costs and sufficient sales to remain successful. Purchasing supplies in larger volumes will allow us to further reduce our break-even point and add to our goal of increasing the margin on our product. 4. Projected Profit and Loss We expect to close out this year with over $160,000 in sales, and to increase our sales to more than $14 Million per year by 2010, with comfortable net profit. Pro Forma Profit and Loss | |   |2008 |2009 |2010 | |Sales |$162,000 |$1,671,769 |$14,905,659 | |Direct Costs of Goods |$70,000 |$557,256 |$4,258,759 | |Other |$0 |$0 |$0 | |   | | | | |Cost of Goods Sold |$70,000 |$557,256 |$4,258,759 | |   |   |   |   | |Gross Margin |$92,000 |$1,114,513 |$10,646,900 | |Gross Margin % |76. 09% |50. 00% |40. 00% | |Expenses | |Payroll $9,600 |$43,500 |$72,800 | |Sales and Marketing and |$6,480 |$50,153 |$298,113 | |Other Expenses | | | | |Utilities |$4,000 |$5,000 |$6,000 | |Insurance |$2,000 |$2,200 |$2,400 | |Rent |$7,680 |$30,720 |$30,720 | |Other |$1,000 |$1,200 |$1,400 | |   | | | | |Total Operating Expenses |$30,760 |$132,773 |$411,433 | |   |   |   |   | |Profit Before Interest and |$61,240 |$981,740 |$10,235,467 | |Taxes | | | | |EBITDA |$61,240 |$981,740 |$10,235,467 | |   |   |   |   | |Net Profit |$61,240 |$981,740 |$10,235,467 | |Net Profit/Sales |37. 0% |58. 72% |68. 67% | 5. Projected Cash Flow We expect to manage cash flow over the next three years with the assistance of a Small Business Administration supported loan of $100,000. This financial assistance is required to provide the working capital to meet the current needs while providing a solid foundation to b uild the growth of the company and its products. This will allow the company to meet and exceed sales projections, gross margin, and return on investment. As shown by the cash flow in the table, we expect a healthy growth in net worth through the end of the plan period. |Pro Forma Cash Flow |   |2008 |2009 |2010 | |Cash Received |   |   |   | |Cash from Operations |   |   |   | |Cash Sales |$162,000 |$1,671,769 |$14,905,659 | |Subtotal Cash from Operations|$162,000 |$1,671,769 |$14,905,659 | |Additional Cash Received |   |   |   | |Sales Tax, VAT, HST/GST |$0 |$0 |$0 | |Received | | | | |New Long-term Liabilities |$100,000 |$0 |$0 | |Sales of Other Current Assets|$0 |$0 |$0 | |New Investment Received |$0 |$0 |$0 | |Subtotal Cash Received |$262,000 |$1,671,769 |$14,905,659 | |   |   |   |   | |Expenditures |2008 |2009 |2010 | |   |   |   |   | |Expenditures from Operations |   |   |   | |Total Operating Expenses; |$70,000 |$557,256 |$4,258,75 9 | |Cash Spending and Bill | | | | |Payments | | | | |Subtotal Spent on Operations |$70,000 |$557,256 |$4,258,759 | |   |   |   |   | |Additional Cash Spent |   |    | |Sales Tax, VAT, HST/GST Paid |$0 |$0 |$0 | |Out | | | | |Principal Repayment of |$3,650 |$5,680 |$6,350 | |Current Borrowing | | | | |Other Liabilities Principal |$0 |$0 |$0 | |Repayment | | | | |Long-term Liabilities |$6,500 |$15,850 |$15,850 | |Principal Repayment | | | | |Purchase Other Current Assets|$0 |$0 |$0 | |Purchase Long-term Assets |$0 |$0 |$0 | |Dividends |$0 |$0 |$0 | |Subtotal Cash Spent |$80,150 |$578,786 |$4,280,959 | |   |   |   |   | |Net Cash Flow |$181,850 |$1,092,983 |$10,624,700 | |Cash Balance |$181,850 |$1,274,833 |$11,899,533 | Works Cited Thaller, M. (2007) Cool cosmos. Retrieved August 27, 2007, from http://coolcosmos. ipac. caltech. edu/ Barton, Joe (2008) Natural Ways to Lower High Blood Pressure 5 Secrets to Naturally Cure Hypertension. Retrieved March 15, 2008, fr om http://ezinearticles. com/? Natural-Ways-to-Lower-High-Blood-Pressure5-Secrets-to-Naturally-Cure-Hypertensionid=1021462 Census Bureau (1996) Current Population Reports. Retrieved March 15, 2008, from http://www. census. gov/prod/1/pop/p25-1129. pdf Center for Disease Control and Prevention (2008) Heart Disease is The Number One Cause of Death. Retrieved