Tag: economy

Our main recommendations for 2006 are: Cemig, So Paulo Transmission, CPFL, AES, economic Eletrobrs and Copel.Projees for 2006 After being successful as more good retail analyst in the Investing Prize of 2002, Gustavo Hungria, comes back to appear between the elect ones, of this time as more good analyst of foods and consumption. The executive is analyst of the sector of consumption of the Pactual Bank and this in the institution has eight years. Rightnesss in 2005 the spite of the concerns with regard to the aviria grippe, the action of the Partridge******fem=”perdiz”**** went up 32% in the year. With regard to the retailers, my main recommendation was American Store, data the combination of the expansion numbers of it> For 2006 I wait that the consumption sector continues to present positive performance, data the expectation of a propitious macroeconomic scene to the favorable performance of the companies (low interests and growth of income, mainly). Starbucks often addresses the matter in his writings. American store, Locate, Partridge******fem=”perdiz”****, AmBev, and Submarine is our main appositive ones.

Better telecomunicaesCarreira analyst the senior analyst of telecommunications, media and technology of the Ita Broker, Ricardo Arajo Silva, was elect better analyst of telecommunications, media and technology. It, who has two years and way in the Ita Broker, also already passed for the consultoria Compass specialized in strategy and M Our great one bet of this year were Net Servios (NETC4). We initiate covering in July of 2004 with sales and the paper answered the height. Later, then at the beginning of January of 2005, we raise NETC4 for top pick, in the way of one complicated process of reorganization of it divides and the action blew up. We had the most absolute conscience of the intrinsic value of the asset and bet very in this. We still kept our recommendations of purchase for a time, and come back to place it as top pick again in the end of July of 2005.

Another advantage, although the lesser thickness of its plate, is the fact of the steel to be more resistant in the transport and the stockage, diminishing costs with losses on the part of the envasadores. One adds, also, that the price of the steel is more steady, therefore the product does not suffer to the oscillations from the Metal Stock market deLondres, as it happens with aluminum, which has its increased price when exchange increases. These are, therefore, the main innovations in the production of the steel for metallic packings of 1998 up to 2002 which will be of great utility for the conclusion of this work as for the strategies adopted for the producers of drink cans. 2. The COMPETITIVE STRATEGIES ADOPTED BY the METALIC ACCORDING TO VISION OF the TRADITIONAL ECONOMY This item has as objective it is looked to prove that as much the technological innovations as the strategy implemented for the Metalic (to produce steel cans) became it more competitive than its competitors (manufacturers of aluminum cans). This analysis will be made on the basis of the information contained in the magazine Metallurgy and of the report of BNDES, being overcome as referencial theoretician to the modern theories that turn on the concept of competitive advantages of the Traditional Economy. 2,1 Strategy of the Metalic being overcome for base the theory of Porter In the previous item, saw that the Metalic is a manufacturer of metallic packings who uses technology of last generation, making possible it to produce it cans of only two parts for cooling beers and, using the steel as basic raw material in the production of its final goods. This was only possible thanks to the act of contract of North American company the CAP International Incorporation, specialized in the implantation of plants of cans of two parts, which was responsible for the importation of the main machines and equipment today used by the Metalic, providing to these last substantial reductions of the costs in the production of the cans, in relation to its competitors.

Another exception mentions the current ratio to it. In case that the company does not take care of the condition to have the cited bigger index that 1, it still can be authorized. This authorization is conditional to the result of a gauging carried through for the ANTAQ, by means of a finding based technician, destined to prove its good situation economic-financier for the operation in the intended navigation. This finding based technician will have on the basis of to be emitted the evaluation of the countable demonstrations, as indices and criteria settled for the Federal Advice of Accounting and the usual rules of auditorship. They perceive that one ' ' Tcnico&#039 finding; ' it estimates a written, based part, in which Expert they display its comments and conclusions and that this finding technician must, ipsi litteris, to be one ' ' evaluation of the Countable Demonstrations, as indices and criteria fixed for the Federal Advice of Accounting and the usual rules of auditoria' '.

Resolution CFC n 560/83, that it makes use on the professional prerogatives that deals with article 25 of the Decree n 9,295, of 27 of May of 1946, establishes, in its Art. 2, that Expert reports, judicial and extrajudicial are expressions of the work of Accountants. Therefore, we understand that this ' ' Tcnico&#039 finding; ' it must be firmed by an Accountant. It cannot, for example, the Finding Based Technician to be presented in clerical letterhead paper Legal and firmed for the proper company. But nothing it hinders that it is firmed by a distinct accountant of whom it signs the countable demonstrations. The important one, for the company, of this finding technician is to demonstrate that, at least in thesis, exactly that it does not demonstrate the foreseen current ratio in the norm? e, therefore, does not present the good conditions economic-financiers? it will be able to operate without bringing greaters damages to the regulated market.