Bus Building Company Essay Example

Bus Building Company Essay Example Bus Building Company Essay Bus Building Company Essay ? Introduction InnoBus Limited is a bus building company located in Toronto, Canada. The company produces and sells a variety of buses designated for public transport within cities. The main customers are in the United States and Canada. Five years ago (about in 1994), due to the bad financial situation, the company was bought by the Dutch entrepreneur , Mr Jan de Koning. He introduced several new techniques and designs to the production and management process of the company. He also changed the company structure from bureaucracy to more flexible and innovative the way together with job guarantee to employees(no loose job), 200 employees just work half year. The company was better now, but still lack of big orders. However, to be glad, the new technology of low-floor buses are improved. ? Marketing The company service public transport, school bus, company bus and airport bus. It also has city bus, suburban bus, inner-city bus. Besides, the low-floor bus is the new level service. The low-floor bus, the entrance and exit with no steps make it easy for elderly, the young and physically challenged to entry and exist bus. The wide opening doors and the low floor height help passenger get on and off quickly. However, the low-floor bus makes a lot of problem because of lacking technology. Through three Canadian people visited to Holland and the ministry of traffic management to learn how public transport technologies and system works well in Holland and also in Europe, Jans got a new technology, namely doing in European way that to build the bus with frames and pipes so no longer need to use truck chasis with that new concept, then he could build a the successful low-floor bus with integral design technology. Because of new technology, the company got more market shares not only in Canada and USA, also in Mexico,Saudi Arabia and China. The competing is very strong. ? Financial Problem When Mr Jan de Koning bought the company, it almost went bankrupt. Even though the company is better now, it is still not yet completely stable in regard to finance. The company is in serious trouble. As a primary company, the competition is so tough. In addition, the sales still not increase(from 1996 to 1998, production of buses declined by more than 30%. ) so that the market is declining. Therefore, the current financial position is rather weak; last 5 years, share capital and contributed surplus was positive, while current year it run into the red (about 4,500 dollar) . Between 1996 and 1997, the company recovered from the financial problem and had profit, while they lost about 15 million dollar this year. The company need the bank loan to cover the deficit. However, at this moment the bank is asking for immediate payment of all outstanding debts. Thus, it increases the payable, about 10% need to pay soon.

10 Easy Ways for Students to Raise Their FICO Score

10 Easy Ways for Students to Raise Their FICO Score Why Students Need a Good FICO Score A FICO score is a type of credit score that is calculated with software from Fair Isaac Corporation (FICO).  Having a good FICO score is very important if you want to get approved for fair interest rates on private student loans, credit cards, and other sources of credit. FICO scores cant be improved overnight, but there are  10 easy steps that students can take to raise their FICO score Step 1: Establish New Accounts If you want to establish credit or raise your FICO score, you can get a credit card in your name and use it responsibly. This means charging regularly and paying the balances off regularly as well. If possible, get a card with a high limit and always keep the card balance below 25 percent. Step 2: Piggyback on Another Account If a parent or some other responsible individual is willing to add your name to their credit card account, it might help your credit and boost your FICO score. Every time this person charges and makes payments on the account it will look good for you. Read more about the legality of piggybacking. Step 3: Get Secured Debt If you are having difficulty getting approved for a regular credit card, try getting a secured credit card. These cards are perfect for those who have poor credit because they allow you to make charges that can be covered by money you have already applied to an account. There is no way for you to overcharge or miss payments. Eventually, use of the card will increase your FICO score. Step 4: Dont Apply for Too Much Credit If you have a flurry of credit inquiries on your credit history because you applied for 10 different credit cards and 5 different loans in a three-month period, it can lower your FICO score. If you can, try to limit yourself to two inquires each year. Step 5: Increase Your Current Card Limits The lower your balances are on your credit cards in comparison to the limit of your credit cards, the better your credit report will look and the higher your FICO score will be. If getting the balances paid down is proving to be a problem, or even if its not, contact your creditors and ask for a higher limit. Step 6: Pay Off Old Accounts If you have old, unpaid debts on your credit report, it can really drag your FICO score down. One of the best ways to undo the damage that has been done is to pay off old accounts and make arrangements with the creditors to have the judgments removed. Step 7: Dont Close Old Accounts Even if they are unused, old credit  accounts attribute to your length of credit history and affect your score. The longer you have an account, the better it looks. Closing old accounts can lower your FICO score even further. Step 8: Always Pay Bills On Time Not paying your bills on time is a sure-fire way to lower your FICO score. Each late payment can lower your score by as much as 20 points. In contrast, paying your bills on time consistently can raise your FICO score. Step 9: Lower Your Debt Having a significant amount of outstanding debt, such as student loans, cars loans, and other types of installment loans, can lower your debt-to-income ratio and in turn, your FICO score. If you can lower your debt; your FICO score will begin to rise at a fast pace. Step 10: Get Help If you are having a hard time managing your credit and raising your FICO score to an acceptable level, consider getting professional help through a low-cost or no-cost credit counseling service.