The 1998 Repeal of Glass Steagall ( 1933) Essay Example | Topics and Well Written Essays - 750 words

The 1998 Repeal of Glass Steagall ( 1933) - Essay Example The reasoning behind the enactment of this act was to provide the customers with a one stop financial mart, where they could undertake all their financial activities with one institution, including both saving and investment (Bartiromo, 2008). Before the legislation, individuals could make their savings with the financial banks but turn to other financial institutions for investment. The legislation allowed the commercial banks to merge with other financial services providing institutions and form Financial Holding Companies (FHC). With such mergers, the combination of these financial service providers allowed them to indulge in all forms of financial activities for their customers (Gramm, 2009). Thus, the FHCs were free to provide such services as granting loans, insurance underwriting and policy offers, brokerage and investment services to their customers, without the necessity of customers seeking such services from different institutions (Benston, 1972). Thus, the enactment was sort after, to ease customer activities of saving and investment. The other importance attached to the legislation is the fact that it would allow the financial institutions to exploit all the opportunities and revenue efficiencies, by increasing the scope of profit making that was previously hindered by the laws that were in place, notably the Glass Steagall Act (White, 1986). Through the consolidation of all the financial services within the jurisdiction of one institution, the institutions could capture the revenues generated through the various financial services such as insurance underwriting, brokerage, deposits and savings and the issuance of commercial loans (Bartiromo, 2008). Since the operational expenses of such institutions would be reduced, through having consolidation of overhead costs as well as having the same staffs handle different customer transactions, the costs for such institutions would be highly reduced, thus creating economies of scale. The costs

Marketing Plan Essay Example | Topics and Well Written Essays - 1750 words - 2

Marketing Plan - Essay Example The Brighter Cleaning Company offers janitorial equipment and cleaning solutions products for furniture and floors. The cleaning products and janitorial equipment help in keeping the work places clean and free from germs. The products can be categorized into three major areas: equipment, paper products and cleaning chemicals. The specific products include brooms, brushes, dustpans, chemicals, dust mops, dusters and cleaning pads. Additional products are floor and furniture care, janitorial carts, paper products, rags and wipes. The Brighter Cleaning Company also offers receptacles, personal care, trash bags, liners, recycling equipments and replacement parts. The aim of the marketing plan is to see that the market of the products increases thus increase in profit margin. An increase in profits will ensure that the shareholders’ returns increase. The marketing plan also aims to improve the return on investment of the company. The marketing plan will aim to minimize the cost that is associated with marketing while the same time ensuring efficiency. The costs to be reduced will include those that are related to lack of customers for the company’s products. United States of America enjoys a stable political condition, thus suitable for business. Being a super power country, it also experiences a great political favor from other different countries. In return, the products manufactured in the United States of America are easy to export to other countries. The policies that control the business in the country favors young businesses and have seen them flourish. The tax laws give the young businesses a grace period to which the business can grow. The business policies in the area also promote the issuance of subsidies to the young businesses thus promoting them. The levied tariffs are also fair; therefore, the business does not struggle to pay the taxes (Kotler & Levy, 1969). The company’s