netrashetty
Netra Shetty
Midway Games, Inc. (formerly Midway Manufacturing) is an American corporation. Following a bankruptcy filing in 2009, it is currently liquidating all of its assets. Founded in 1958 as an amusement game manufacturer, it became a video game publisher and developer in 1973. Midway published and developed titles such as Mortal Kombat, Ms.Pac-Man, Spy Hunter, Tron, Rampage and NBA Jam. Midway also acquired the rights to video games that were originally developed by Williams Electronics and Atari Games, such as Defender, Joust, Robotron 2084, Gauntlet and the Rush series.
Midway was purchased and re-incorporated in 1988 by WMS Industries Inc. In 1998, it became an independent public company. The company began in the arcade game business, scoring its first hit with the U.S. distribution of Space Invaders in 1978. After many years as a leader in the arcade segment, Midway moved into the growing home video game market beginning in 1996, the same year that it made its initial public offering of stock. Midway was listed as the #19 video game publisher in September 2005 and the #20 in September 2006 by the magazine Game Developer.[2]
After 2000, although Midway continued to develop and publish video games for each new generation of home and handheld video game machines, Midway experienced annual net losses. In response, the company engaged in a series of stock and debt offerings and other financings and borrowings. Sumner Redstone, the head of Viacom/CBS Corporation, was a large investor in the company since the 1990s. He increased his stake in Midway from about 15%, in 1998, to about 87% of Midway by the end of 2007.[3] In December 2008, Redstone sold all his stock to Mark Thomas, a private investor, for $100,000, and Midway extended $70 million of new loans to Thomas.[4]
Marshall & Ilsley (MI) is the country’s 19th largest bank in terms of assets, with over $56 billion in assets, and 20th in terms of market capitalization. M&I still operates primarily as a regional bank, with over more than half of its 300+ branches operating in Wisconsin (giving it the largest presence in the state of any bank). The bank has recently been expanding into other areas with high growth rates, like St. Louis, Minneapolis, and Phoenix. As a smaller bank, M&I has traditionally relied on its customer service and small-town-bank feel in cases where it cannot compete with the Interest Rates of larger banks. To this end, the company’s management has suggested it will attempt to broaden its exposure in the high-growth areas instead of trying to expand beyond the nine states in which it currently operates branches. While some banks were hard hit during the July '07 credit crunch, Marshall & Ilsley emerged relatively unscathed. Although the increased their provisions for loan and lease foreclosures to just over 1 % of total loans (about double from the previous year), M&I's net interest income was still up 2 % in the third quarter of '07 compared to the same quarter of the year before. Additionally, more than 60% of M&I's outstanding loans are commercial, meaning that the plight of individuals with overstretched credit forced to foreclose would not affect M&I as drastically as other regional banks that cater more towards individuals. A final factor affecting the performance of M%I in the near future is the result of spinning off Metavante, the segment of the bank (comprising approximately 20% of total revenue) in charge of data processing services. Despite the previous success of the Metavante segment, M&I could use the cash from the transaction to increase its other acquisitions and offset the lost revenue. [1]
Contents
* 1 Business Financials
* 2 Key Trends and Forces
* 3 Competition
* 4 Notes
Business Financials
M&I's net annual income has continued to rise at a fairly steady rate over the past five years (14.4% in 2006) as the company expands its branch operations to other states.
image:MI_1.jpg
image:MI_2.jpg
Key Trends and Forces
* M&I's performance is sensitive to a small economy:
Although M&I is taking further steps to expand beyond its Wisconsin roots, the bank still operates approximately 60% of its branch offices in its home state. As a big supplier of small business loans, any event or long-term trend that would adversely affect the economy of Wisconsin would have an overly large effect on M&I compared to its competitors.
* Credit Market risk is inherent with any bank stock:
The stock market as a whole has suffered some drastic shocks due to an overdrawn credit market and increased rate of mortgage foreclosures. While M&I has traditionally been known for a relatively risk-averse credit team and balanced credit portfolio, another stretch of market uncertainty like the one seen at the end of summer 2007 would hurt their earnings, along with those of the industry as a whole.
* Interest Rate fluctuations can drastically affect a bank's revenue:
The federal funds rate is the interest rate at which banks lend money to each other. It is set by the Federal Reserve Bank in response to various economic factors. A higher federal funds rate would correspond to a higher saving/lending rate for a bank, meaning that more people would be willing to save but fewer willing to borrow, whereas a lower rate would lead to more borrowing but less money being deposited for savings. The Fed has not changed the federal funds rate as often lately, but changes have big effects on banks.
image:FedFundsRate.jpg
* Online banking may supplant the small-town banks:
As online-only banks like Capital One gain greater prominence in an increasingly-digital world, banks that rely on customer service and friendly bank tellers at local branches will have a harder time competing with the larger banks because of higher capital costs.
Competition
Marshall & Ilsley ranked in the top 20 in income ($808 million) in 2006 among "regional" banks in the United States.
The top 5 regional banks, by income:
* Wachovia (WB) (Headquartered in North Carolina, annual income of $7.4 billion)
* PNC Bank (PNC) (Headquartered in Pennsylvania, annual income of $2.6 billion)
* National City (NCC) (Headquartered in Ohio, annual income of $2.3 billion)
* SunTrust Banks (STI) (Headquartered in Georgia, annual income of $2.1 billion)
* BB&T (BBT) (Headquartered in North Carolina, annual income of $1.5 billion)
Other competitors:
* BOK Financial (BOKF) (Headquartered in Oklahoma, annual income of $217.6 million)
Midway was purchased and re-incorporated in 1988 by WMS Industries Inc. In 1998, it became an independent public company. The company began in the arcade game business, scoring its first hit with the U.S. distribution of Space Invaders in 1978. After many years as a leader in the arcade segment, Midway moved into the growing home video game market beginning in 1996, the same year that it made its initial public offering of stock. Midway was listed as the #19 video game publisher in September 2005 and the #20 in September 2006 by the magazine Game Developer.[2]
After 2000, although Midway continued to develop and publish video games for each new generation of home and handheld video game machines, Midway experienced annual net losses. In response, the company engaged in a series of stock and debt offerings and other financings and borrowings. Sumner Redstone, the head of Viacom/CBS Corporation, was a large investor in the company since the 1990s. He increased his stake in Midway from about 15%, in 1998, to about 87% of Midway by the end of 2007.[3] In December 2008, Redstone sold all his stock to Mark Thomas, a private investor, for $100,000, and Midway extended $70 million of new loans to Thomas.[4]
Marshall & Ilsley (MI) is the country’s 19th largest bank in terms of assets, with over $56 billion in assets, and 20th in terms of market capitalization. M&I still operates primarily as a regional bank, with over more than half of its 300+ branches operating in Wisconsin (giving it the largest presence in the state of any bank). The bank has recently been expanding into other areas with high growth rates, like St. Louis, Minneapolis, and Phoenix. As a smaller bank, M&I has traditionally relied on its customer service and small-town-bank feel in cases where it cannot compete with the Interest Rates of larger banks. To this end, the company’s management has suggested it will attempt to broaden its exposure in the high-growth areas instead of trying to expand beyond the nine states in which it currently operates branches. While some banks were hard hit during the July '07 credit crunch, Marshall & Ilsley emerged relatively unscathed. Although the increased their provisions for loan and lease foreclosures to just over 1 % of total loans (about double from the previous year), M&I's net interest income was still up 2 % in the third quarter of '07 compared to the same quarter of the year before. Additionally, more than 60% of M&I's outstanding loans are commercial, meaning that the plight of individuals with overstretched credit forced to foreclose would not affect M&I as drastically as other regional banks that cater more towards individuals. A final factor affecting the performance of M%I in the near future is the result of spinning off Metavante, the segment of the bank (comprising approximately 20% of total revenue) in charge of data processing services. Despite the previous success of the Metavante segment, M&I could use the cash from the transaction to increase its other acquisitions and offset the lost revenue. [1]
Contents
* 1 Business Financials
* 2 Key Trends and Forces
* 3 Competition
* 4 Notes
Business Financials
M&I's net annual income has continued to rise at a fairly steady rate over the past five years (14.4% in 2006) as the company expands its branch operations to other states.
image:MI_1.jpg
image:MI_2.jpg
Key Trends and Forces
* M&I's performance is sensitive to a small economy:
Although M&I is taking further steps to expand beyond its Wisconsin roots, the bank still operates approximately 60% of its branch offices in its home state. As a big supplier of small business loans, any event or long-term trend that would adversely affect the economy of Wisconsin would have an overly large effect on M&I compared to its competitors.
* Credit Market risk is inherent with any bank stock:
The stock market as a whole has suffered some drastic shocks due to an overdrawn credit market and increased rate of mortgage foreclosures. While M&I has traditionally been known for a relatively risk-averse credit team and balanced credit portfolio, another stretch of market uncertainty like the one seen at the end of summer 2007 would hurt their earnings, along with those of the industry as a whole.
* Interest Rate fluctuations can drastically affect a bank's revenue:
The federal funds rate is the interest rate at which banks lend money to each other. It is set by the Federal Reserve Bank in response to various economic factors. A higher federal funds rate would correspond to a higher saving/lending rate for a bank, meaning that more people would be willing to save but fewer willing to borrow, whereas a lower rate would lead to more borrowing but less money being deposited for savings. The Fed has not changed the federal funds rate as often lately, but changes have big effects on banks.
image:FedFundsRate.jpg
* Online banking may supplant the small-town banks:
As online-only banks like Capital One gain greater prominence in an increasingly-digital world, banks that rely on customer service and friendly bank tellers at local branches will have a harder time competing with the larger banks because of higher capital costs.
Competition
Marshall & Ilsley ranked in the top 20 in income ($808 million) in 2006 among "regional" banks in the United States.
The top 5 regional banks, by income:
* Wachovia (WB) (Headquartered in North Carolina, annual income of $7.4 billion)
* PNC Bank (PNC) (Headquartered in Pennsylvania, annual income of $2.6 billion)
* National City (NCC) (Headquartered in Ohio, annual income of $2.3 billion)
* SunTrust Banks (STI) (Headquartered in Georgia, annual income of $2.1 billion)
* BB&T (BBT) (Headquartered in North Carolina, annual income of $1.5 billion)
Other competitors:
* BOK Financial (BOKF) (Headquartered in Oklahoma, annual income of $217.6 million)
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