This era's three presidents, Theodore Roosevelt, William Taft, and Essay

This era's three presidents, Theodore Roosevelt, William Taft, and Woodrow Wilson, presided over a federal government beginning to assert its power to regulate - Essay Example In 1902 he cajoled Republican conservatives into creating the Bureau of Corporations with the power to investigate businesses engaged in interstate commerce but without regulatory powers. He also resurrected the nearly defunct Sherman Antitrust Act by bringing a successful suit to break up a huge railroad conglomerate, the Northern Securities Company. Roosevelt pursued this policy of "trust-busting" by initiating suits against 43 other major corporations during the next seven years. Also in 1902 Roosevelt intervened in the anthracite coal strike when it threatened to cut off heating fuel for homes, schools, and hospitals. This was the first time that a president had publicly intervened in a labour dispute at least implicitly on the side of workers. Roosevelt characterized his actions as striving toward a "Square Deal" between capital and labour. Roosevelt's boldest actions came in the area of natural resources. At his urging, Congress created the Forest Service (1905) to manage gover nment-owned forest reserves (Encyclopedia Britannica Online). William Howard Taft became President after Roosevelt. While agreeing with the overall policies of the Roosevelt administration, Taft felt that the power of the Presidency had been extended too far by the previous administration. Taft exerted his power to a much lesser degree. Often that was deemed by the progressive Roosevelt supporters as an abandonment of principles. Thus a major rift developed in the Republican Party. During his long government career, he served as Governor of the Philippines, Secretary of War, President of the United States and Chief Justice of the United States Supreme Court. He is the only man in U.S. history to have been both President and Chief Justice. Taft was committed to lowering tariffs, and when elected, he called Congress into a special session to this end. Congress succeeding in reducing the average tariff from 46 to 41 percent. However, special interest groups managed to raise the tariff on several items. Taft was an avid enforcer of the anti-trust policies of the Roosevelt administration. He repeatedly instituted the number of anti-trust suits brought against monopolist corporations. During his term of office, two of the biggest monopolies were broken - Standard Oil Company and the American Tobacco Company. Under Taft, the federal government for the first time began the regulation of the telephone and telegraph industries. The government also obtained the authority to fix interstate commerce rates. Taft maintained an activist approach to foreign policy. On one hand, he was the initiator of what became known as Dollar Diplomacy, in which the United States used its military might to promote American business interests abroad. Taft defended his Dollar Diplomacy as an extension of the Monroe Doctrine. Taft was a major supporter of arbitration as the most viable method of settling international disputes (History Central). The most visible legacy of Taft's Chief Justiceship is the Supreme Court Building, for which he lobbied. As Chief Justice, Taft's tenure was marked by hard work and by efforts for judicial reform. Taft was concerned about the delay and inefficiency in the federal court system. His first task was to secure the passage of The Judges Act in 1922. The act was the first major reform of the federal judiciary since 1789. It gave the Chief Justice more power over the

Financial Statement Analysis Research Paper Example | Topics and Well Written Essays - 1500 words

Financial Statement Analysis - Research Paper Example It provides awareness to the investors in that guide them in making important investment decisions. The analysis of the firm will reveal its financial background, operating efficiency, liquidity position, and profitability, going concern, and capital structure and gearing position. Industry analysis facilitates the understanding of the operating environment, identification of external threats and opportunities for investment, analysis of trends within the industry and the general performance of the industry. The Yum! Brands Inc. is a fast food restaurant incorporated in 1927. The company establishes, operates, franchises and licenses a global system of restaurants, which make, pack and sell a menu of priced food commodities. The company has three powerful brands, TACO Bell, KFC and Pizza Hut, which has continuously sustained its profitability over the years. Over the years, the company has reported increase in turnover, profits and returns to shareholders. The earnings per share of the company has an upwards trend for the past eight years with the exception of 2013 when the earnings dropped significantly (Morningstar Inc., 2014). The company’s growth is driven by its powerful brands, superior marketing strategies, breakthrough innovations and competing values, and venturing into new markets (Yum! Brands Inc., 2014). The restaurant business in the U.S is highly competitive with major multinational companies such as Yum! Brands, Starbucks, McDonald’s, Wendy’s, and Chipotle. Personal income, demographics and consumer tastes and preferences drive demand in this industry. Individual entities in the industry have varied profitability levels. Whereas the quick-service restaurants rely on high-volume turnover and efficient operations, the full-service restaurants rely on effective marketing and high-margin items. This industry is experiencing an upward growth trend in sales, profitability and shareholders returns over the years