Health care takes a checkup
The Canadian Comprehensive Auditing Foundation (CCAF) conducted a research to create an effectiveness reporting approach that would enable managers to report information that can be audited and substantiated meaningfully. In view of the growing demands for better accountability in resource use and better service, the Queen Elizabeth Hospital in Toronto decided to adopt the CCAF approach. Through effectiveness reporting, the institution hoped to provide its trustees with information that could aid them in performing their duties and in making decisions.
Publication Name: CA Magazine
Kmart takes the high road
Kmart increased its issue of trust preferred securities to $1 billion to meet investor demand. As a result, Kmart stock rose by 24%. The company also obtained a bank refinancing program, thereby solving potential liquidity problems. The concept of offering trust preferred securities was conceived by Kmart CFO Martin Welch to effect a turnaround to the ailing retail firm. Welch had also helped Federal-Mogul return to investment-grade status.
Publication Name: Treasury & Risk Management
Tiny unmanned submarine takes on the Gulf Stream, and wins
A tiny six-foot length craft, called Spray, which is starting in September 2005, took on a voyage associated with expensive yachts, sailing from a point near Nantucket Island, Mass, to Bermuda. The way in which it managed to keep a pace between the racing yachts is described.
Publication Name: Defense Today
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