How Do Government Deficits And Debt Affect U.s. Economic...

Annotated Bibliography The research question evaluated in this annotated bibliography is â€Å"How do government deficits and debt affect U.S. economic welfare?† The research question addressed by this article is how do deficit and debt effect interest rates? The article begins by showing the complexity of measuring these elements do to the business cycle and its effects on the variables. The author proposes the best way to measure deficit and debts effect on interest rates is to take future values for interest rates and the projected amounts of debt and deficit. This allows for the variables to be measured outside of the business cycle and this providing a cleaner measurement of the different variables. By using debt and deficit projections†¦show more content†¦This theoretical success of the Ponzi gamble makes it feasible for the United States to continually rollover debt with any determent to welfare of future generations. The research question addressed by this article is â€Å"do large deficits produce high interest rates?† The hypothesis of the author is that large deficits do not increase interest rates. The author examines four major time periods in United States history and measures exogenous influences such as government spending, tax revenue, and nominal money stock. Regression analysis is applied to these factors. The author concludes that high deficits do not have the impact on interest rates as had previously been assumed The research question addressed by this article is â€Å"what is the relationship between public and private debt?† First, the article explains the unique negative covariation which occurred between U.S. public and private debt up until the 1980’s. The author then analyses the post 1980 debt-to-income ratio, and find that both public and private debt have increased since 1980. The research question addressed by this article is â€Å"what is the effect of both implicit and explicit debt on long-term interest rates?† The study seeks to find the effects of implicit and explicit debt, and while most studies have focused on explicit debt this study takes an in depth look at the implicit debt and the impact it has on interest rates. Using VAR analyses, the authors find

Aritotles Voluntary and Involuntary Actions Essay

Aristotles Nicomachean Ethics generally focuses on living a virtuous life and having virtuous characteristics. In Book III Chapter II of Nicomachean Ethics, Aristotle focuses on different types of actions. He divides actions into three categories: voluntary, involuntary and nonvoluntary. Aristotle makes this distinction mainly because his evaluation of someones actions depends primarily on whether their actions are voluntary, involuntary, or nonvoluntary. Aristotle describes voluntary actions as those actions driven by an individuals ambition, passions or desires. It is only voluntary feelings and actions for which praise and blame are given (Book.III Ch.I). Praise and blame presuppose that our actions are done voluntarily. The†¦show more content†¦The man did not voluntarily fall on the gardener, which make his actions involuntary. In this case, the man had no control over the outcome and was not fully aware of the circumstances surrounding his actions. Aristotle also expla ins that an act committed because of ignorance or force that is later regretted would be classified as involuntary. Aristotle makes a fine distinction between involuntary and nonvoluntary actions. According to Aristotle, ignorance of the particular facts of a given situation may be excused; however, ignorance of acceptable versus unacceptable behavior is evil and cannot be excused. Also if someone commits an act, then that actions classification is based on the persons response to the consequences of the action. For instance a woman swinging a bat, and unbeknownst to her, a little boy walks directly behind her and is then struck in the head. The woman, overcome with regret, acted involuntarily; however if the woman saw the consequences act without regret, her act would be classified as non voluntary. The situation is not voluntary, but how the woman responded was voluntary. Â…and the man who does not repent may, since he is different, be called a not voluntary agent; for, since he differs from the other, it is better that he should have a name of his own (Book III Ch. I). Aristotle examined voluntary, involuntary, and no voluntary actions, primarily to set the stage for

Case Study Organizational Behavior - 1424 Words

Abstract Why do individuals behave the way they do and perform well or poorly in the workplace? This question has been the Holy Grail of much research in organizational behavior (McShane−Von Glinow, 2004). A large American city was putting on some seminars for managers, and the main topic of the discussion was motivation. During the seminar a problem came to light that a captain of a police station was dealing with some issues with his police officers. When his officers first came to the police station were all very young and inexperienced. Although they really enjoyed going out on the streets, helping people and having contact with the public, one thing they really hated was paperwork. The captain needs he needs to motivate his†¦show more content†¦Employers must take advantage of the motivational element of this model. Additionally, employees must have the required skills. The manager of each company should be sure that the staff is qualified and trained properly. Another im portant function of the factor of capacity is to place employees in positions that would be able to use their talents. The third factor of this model is the role of perception. Employees must have a clear understanding of their place in the company and how to assist to the overall mission. The fourth and last factor is situational factors where the employees must have all tools, equipment and facilities to perform a successful work. The MARS model shows that these four factors have a combined effect on individual performance, if any factor weakens, employee performance will decrease (McShane−Von Glinow, 2004). For example, enthusiastic salespeople (motivation) who understand their job duties (role perceptions) and have sufficient resources (situational factors) will not perform their jobs as well if they lack sufficient knowledge and sales skill (ability) (McShane-Von Glinow, 2004). There are definitely reasons that led the young and probably not experienced officers to perform poorly in this task. One of the main reasons is that they believe and perceive that their role in the police department is to prevent crime, to arrest criminals and be involved in communityShow MoreRelatedOrganizational Behavior Case Study2560 Words   |  11 PagesSANDALIAS FINAS DE CUERNAVACA, S.A. TOTAL QUALITY MANAGEMENT (TQM) A Case Study Student name, school and level, remain confidential March 11th, 2008 Organizational Behavior – Dr. Panayotis Zamaros -1- Table of Content 1. Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦..3 2. Presentation of the Problem†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..4 3. Presentation of the Solution: Total Quality Management (TQM) †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5 4. Analysis of the Solution: Is TQM compatible with Mexican culture?.......................Read MoreA Case Study on Organizational Behavior1870 Words   |  8 PagesA Case Study in Organisational Behaviour A Case Study in Organisational Behaviour Introduction The paper describes a hypothetical, professional situation that professionals in organisational behaviour may face fairly often. I have been hired as a management consultant for A E Yachts, which is run by David Hammond. There are sixty employees and the former head of the company, Arthur Hammond is another person to whom the consultation will extend. These people are my base community and cultureRead MoreOrganizational Behavior Case Study3346 Words   |  14 Pagescause of the problems using two leadership theories, namely path-goal leadership theory and competencies perspectives of leadership. Moreover, we will try to relate this case with other Organizational Behavior theory. We have identified that this problems create a kind of conflict in the organization. So, we decide to approach this case with theory of conflict. Here, we will only use two sources of conflict, namely differentiation and communication. A. Path-Goal Leadership Theory This theory is oneRead MoreOrganizational Behavior Case Study1819 Words   |  7 Pages TABLE OF CONTENT INTRODUCTION.............................................................................................................................3 DESCRIPTION OF CASE...............................................................................................................4 DESCRIPTION OF RESULTS.......................................................................................................7 VALUES..............................................................................Read MoreOrganizational Behavior Case Study873 Words   |  4 Pages1. What factors do you think make some organizations ineffective at managing emotion? According to the case, organizations are always hard to manage emotion effective. From my prospective, there might be three main reasons, emotional individual differences, lack of contact between organizations and their employees, and organization culture, all bringing about this situation. First of all, different people have different personalities. It is hard for an organization to publish a policy or toRead MoreCase Study : Organizational Behavior Management1261 Words   |  6 PagesCase Study: Organizational Behavior Management Case Study: Organizational Behavior Management KeAtis Hayes Ashford University MHA 601: Principles of Healthcare Administration Earl Greenia June 12, 2016 Have you ever been in a situation where you could see a problem in a group, but couldnRead MoreCase Study : Organizational Behavior Management974 Words   |  4 PagesCase Study: Organizational Behavior Management Patient safety is the top priority when it comes to hospitals today. Staff and employees are first ones on hand to help patients remain in the safest condition while at the hospital. In this current case study Improving Responses to Medical Errors with Organizational Behavior Management Frates (2014) analyzed a hospital in southwest Virginia and performed an assessment regarding patient safety and the organizational management techniques that were usedRead MoreOrganizational Behavior Case Studies with Answers6198 Words   |  25 Pagespersonality – often better predictors Personality is often defined by characteristics such as outgoing or charming. However, psychologists define personality as the growth and development of a person’s whole psychological system. We study personality in Organizational Behavior because it impacts a number of important work outcomes. We can attempt to measure personality through a variety of methods. Often these methods are utilized in the hiring process to assist in hiring the right person for the jobRead MoreLeadership and Organizational Behavior Case Study924 Words   |  4 Pagesnow and will be able to be effective in meeting its objectives. 5. Adjourning: When the task/objective is completed, the group will separate and move on. When looking at the case from our course text The Forgotten Group Member, at the end of the case study Christine is putting together the different parts of the case analysis. This would put the group in the performing stage as the objective is being worked on, but isn t just yet completed. As it appears from the text, the group did the initialRead MoreCase Study Questions On Organizational Behavior Essay2596 Words   |  11 Pages University of Waikato Master of Professional Accounting Case study Name: Boren Xiao Student ID: 1260790 Paper code: EXED504 Paper: Organizational Behaviour Stream: 15S Assignment Name: Reframing Organization Lecturer: Ron McDowall Due Date: 2015-2-25 Contents Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦2 Discussion of the assigned question †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦3 Problem due to lost goal†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦3 Problem due to mergers and acquisitions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦3 Problem

Emi Group Case Study free essay sample

While conducting the analysis of MME groups dividend policy, one factor that stood out to us was the clientele effect. The clientele effect shows us who holds most of our outstanding shares. High tax-bracket Individuals would prefer zero-to-low dividend payout to save on taxes. Low tax-bracket individuals would prefer a low-to-medium dividend payout, which gives them additional income while helping them save on taxes.An investing corporation would prefer a higher dividend payout because if they own a significant amount of shares, say 1 million, the income stream from that evident would provide the company with more monetary resources while benefiting from tax exemptions. So before setting a dividend policy for MME group, we must first determine who holds that majority of our shares and how many shares they hold. We found that 83% of MIS investor base is occupied by groups or institutions that own 1,000,000 shares or more.All of the significant shareholders are large corporations, who not only prefer, but demand a high dividend yield or payout. We will write a custom essay sample on Emi Group Case Study or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Only 0. 2% of MIS shareholders are individual investors who own 500 shares or less. The payment of an up per share dividend Is a significant amount for those sees than 500 shares, a dividend of up per share doesnt seem like much. So, not paying the scheduled dividend would significantly affect those larger investors who were expecting to see a high additional income figure from the dividend payment.Therefore, these large investors would begin to unload the MME stock from their portfolios, which would be reflected in the decline of MIS stock price. The clientele effect plays a significantly large role in the process of determining MIS dividend policy, as does the compass future outlook-?depending on the success of transfiguring plan. Although the restructuring plan will reduce costs, there is no sign to show us what affect it will have on future revenues. As we assume future growth in digital sales, MME should be able to cuts its costs and increase its earnings.Over the past few years, digital revenue has grown 59%. MME has also decided to make a Joint announcement with Apple (PAPAL) that It will be the first major music company to offer a free digital catalog and Improve sounds quality. TLS could possibly drive digital sales even higher. This restructuring plan gives us a positive outlook on the future of the company. With that said, keeping the dividend at up per hare would not fool investors into thinking that the company is doing fine when it is not. Management does, in fact, believe that the future of the company is looking up.Another big issue brought to our attention is the hypothesis of dividend signaling. What kind of message are we sending to our Investors through our dividend policy? According to Investigated. Com, deemed signaling suggests company announcements of an increase undivided payouts act as an indicator of the firm possessing strong future prospects. A manager who has good investment opportunities Is more likely to signal than one who doesnt because it is in his or err best interest to do so. In MIS case, decreasing or omitting a dividend would send out a message of defeat to Investors. If investors do not think that MIS management has high confidence about the future, they will begin to sell their signaling hypothesis tell us that cutting the dividend is BAD for the company as it will lose shareholders after doing so. MIS current income is negative, so this poses the question: Where would the money for this dividend come from? Since the company has future near term growth with the projections of the restructuring plan, net income will (if all goes well) go up in the coming years.The best way for MME to continue on with paying the dividend would be to take on more long-term debt in order to make these payments. Although it may not seem like a good idea to increase the companys debt while its income is negative, it is a necessary evil because 83% majority) of MIS shares are owned by corporations who prefer middleman the same scheduled dividend or they take their money and invest it elsewhere. So, with net income projected to increase in the near future through restru cturing, MME will be able to service its debt obligations while satisfying its shareholders.MME GROUP PL caching Note Synopsis This case examines the April 2007 decision of British music company MME to suspend its annual dividend as the company struggled to respond to the effect of digital audio distribution on its core business. The MME case is intended to serve as an engaging introduction to corporate financial policy and themes in managing the right side of the balance sheet. The case contrasts MIS storied success with artists such as the Battles, the Beach Boys, Pink Floyd, and North Jones with its recent inability to succeed in financial markets.In light of takeover threats and restructuring sots, MIS SCOFF Martin Stewart must recommend MIS dividend policy. Objectives The case serves to accomplish the following teaching objectives: ; Introduce the topics of financial policy, such as dividend policy and debt policy. ; Motivate the tension between investment policy and financial policy with respect to the sources and uses of cash. ; Prompt the Modeling-Miller intuition of financial policy irrelevance and homemade dividends. ; Discuss the ways in which Scoffs add value to firms. ; Review the mechanics of corporate dividends. Advance Assignment Questions Students may consider the following study questions: . As SCOFF, how can Martin Stewart contribute to successfully managing MME? 3. What do you learn from the sources-and-uses statement provided in case Exhibit 7? What are the implications for MIS dividend policy? 4. What dividend policy would you recommend for MME? Supplementary Material An Excel spreadsheet (Case_27. XSL) is available for students. Hypothetical Teaching Plan 1 . How is MME doing? What are your concerns? What does MME have going for itself? 2. It seems like this dividend decision is a big deal.Do shareholders generally prefer firms that pay dividends? Do you think MME shareholders would pay more if MME promised a up dividend? 3. Why should the dividend policy matter much at all? Why is this dividend decision so important to MME? 4. What should Stewart do? Case Analysis 1. How is MME doing? What are your concerns? What does MME have going for itself? In April 2007, MME management faces an important challenge as it searches for a new business model in a digital music world. Annual revenue is down 16% for the [ear and 19% since 2003. Investors are reeling from a series of negative-earnings- guidance surprises. Earnings per share for the year will be announced at -36. Up per share, the companys worst profit figures. The industry continues to look for a bottom n the effect of digital audio distribution among the major companies (Warner Music, Sony BMW, and Universal Music). MME is attracting takeover interest from rivals, including the recent IPPP offer from its U. S. Rival, Warner Music. The company is currently involved in a GOBI 25 million to GOBI 50 million (British pounds) restructuring effort that is taxing its financial resources. Still, MME has much to celebrate.It maintains one of the strongest catalogs of music and artists in the industry. MIS music-publishing division is stable and ales are expanding aggressively and now represent 10% of group revenue. The company also made an agreement with Apple to be the first major music company to offer its digital catalog using the new format that maintains better sound quality and fewer rights restrictions. Given that backdrop, MIS SCOFF Martin Stewart must recommend a dividend policy for MME. Maintaining the up-per-share end-of-year annual dividend would require BEBOP million of MIS cash resources.Omitting the dividend may further disappoint Investors and lead to greater softening of MME share values in the market. Students will generally claim that dividends are valuable to shareholders, and that this decision is a big deal for MME. This discussion motivates an introduction to the Modeling-Miller intuition of financial policy irrelevance and homemade dividends. One way to do this is with the following example. Suppose you are walking into the bank and you notice an advertisement for a new concept in retail banking called the Free Money Checking Account. Since you are always interested in advertisements for free money, you inquire further with the bank representative. The representative is delighted with your interest and explains hat the mechanics of the free money account are simple. Each month the bank looks at the average balance in your account and sends you a check for 10% of the balance. Great! you exclaim, you mean the bank will send me free checks in the mail! Well, not exactly, explains the representative, you see the amount of the check will first be deducted from your checking account. Registering your disappointment, the bank representative counters, But the Free Money Checking Account only costs a mere $20 per month! The instructor can ask how many of the students are interested in signing up for a Free Money Checking Account (FMC). The students should express reluctance to sign up for the account (if not, the instructor is provided with an obvious arbitrage opportunity). The instructor can encourage the students to discuss how they could mimic all the features of the FMC by home cooking their own monthly payments Introit paying $20 per month.The instructor can then ask how the story applies to shareholders of MME stock. Quickly, the students will recognize the Modeling-Miller proposition that corporate dividends are wealth-irrelevant. [l] The shareholder of the dividend-paying stock is ongoing nothing more than taking money out of one pocket and putting it in the other. Recognizing this fact, the rational shareholder should not be willing to pay any premium for firms that pay dividends over those that do not because the shareholder students should be somewhat primed for this discussion based on the introduction provided in Fisher Blacks discussion in case Exhibit 8. . Why should the dividend policy matter much at all? Why is this dividend decision so important to MME? One exercise worth spending time on is a detailed review of case Exhibit 7. The students should appreciate that the sources and uses of capital must equal each there. In this regard, investment policy is linked to financial policy. MME must fund the dividend either through additional borrowing or through a reduction in investment spending. The discussion invites a survey of the principles of financial policy relevancy. Points of discussion can include the following: Information signaling: There is some evidence that the market is being overly critical of MME prospects. Dividends can be used as a way of credibly signaling the private information of management of the future profits. [2] There is substantial evidence in the case that information signaling plays an important role in the MME evident. Tax treatment: In many countries, there is a difference between the tax treatment of dividend income and capital gains income. [3] At the time of the case, there was little difference in the two tax rates for individuals in the United Kingdom.Still, capital gains do afford the investor the flexibility to postpone the recognition of taxes and thus gain the time value of the tax recognition. Management monitoring: Dividend payments provide a mechanism for bonding manager performance. By requiring managers to return to the capital markets to fund future investment, managers are required to accept the additional scrutiny of he primary market for capital. [4] More broadly, this question provides an opportunity for the instructor to introduce students to the world of financial policy and the themes in managing the right side of the balance sheet.One fundamental distinction to make from this discussion is that Scoffs are involved in two important activities: investment policy (managing the left side of the balance sheet) and financial policy (managing the right side of the balance sheet). Financial policy includes decisions regarding the appropriate securities to fund firm assets, including how much debt to have in the capital structure, the appropriate level of dividends to pay shareholders, and how to manage firm risk exposure to foreign exchange rates and commodity prices. 4.What should Stewart do? To wrap up the discussion, the instructor may choose to poll the c lass on its and each group may be allowed ample time to summarize its arguments. The instructor may choose to share the case epilogue included in Exhibit TIN . As you will see in the epilogue, MME chose to suspend the dividend; the company Nas subsequently purchased by a private equity firm, and MME senior management Nas dismissed. The discussion of the epilogue can be followed by a discussion about Neither MME management made a mistake to suspend the dividend.Ultimately, the class is likely to conclude that the operating failure of MME management played a larger role than any aspects of the financial policy (including the dividend decision). A closing statement for the case might emphasize the lesson that business value is created primarily by the operations of the business and that financial policy maintains a primary role of supporting rather than superseding the operating decisions. Exhibit TIN MME GROUP PL Epilogue In addition to preliminary results for the 2007 fiscal year, MIS April 18 press lease included the companys decision to suspend dividend payments for a time.Regarding its dividend, MME noted in view of the Companys funding requirements, the Board has decided to suspend dividend payments until the benefits of the restructuring process have been fully realized (the interim dividend of up per share has already been paid [on April 2]). The Board will keep the situation under review. Ninth heavy trading, MME shares actually gained nearly 5% following the announcement. Two weeks later, MME confirmed that a number of parties had contacted management regarding an acquisition of MME. Shortly after, on May 21, MME announced the Board had accepted a IPPP offer from private equity firm, Terra Firma.While acknowledging there were numerous offers, MME Chair John Silversides stated, Terra Firms offer delivers cash now, without regulatory uncertainty and with the minimum of operational risk to the company. Investors clearly expected a bidding war to break out for MME. MIS shares rose to 271 p that same day, surpassing the Terra Firma offer. While other private equity firms were mentioned as possible bidders, most bets were on Warner Music to be the principal dueling bidder. Sole Media Metrics analyst Laura Martin remarked, Its the ginning, not the end