CURRENT BUSINESS NEWS” Assignment

This is an extremely important exercise. The transference of knowledge/understanding from the classroom to real life is an expected outcome of this course. Researching relative information, summarizing it in your own words, and recording your thoughts/comments enhances learning transference.

PROCESSFOR NEWS REPORTS

At the end of each Chapter, there is a section labeled “Key Terms.” Choose one of the Key Terms at the end of the chapter section, from the section called, “Key Terms,” and research online or in written publications; find a current news article that contains your chosen Key Term. Summarize it in two or three paragraphs. Include two or three paragraphs with your personal Comments. Note: Each summary/ comment paragraphs must contain only 2-5 sentences. Watch out for plagiarism. This IS NOT a TERM PAPER!!! Only “1” page in length!!!

Article: (Title of article)

Article Date: (Date of article)

Reference: (Source of article)

Chapter:(Chapter #)

Key Term: (End of chapter key-term)

The Lean Startup (Links to an external site.) by Eric Ries

In The Lean Startup, investor Eric Ries (Links to an external site.) discusses scientific, systematic lean manufacturing (Links to an external site.) strategies so startups, entrepreneurs, and business managers can make fast decisions in a constantly changing world. The author uses real-life examples to illustrate the concepts he talks about–although mostly from his own entrepreneurial experiences at IMVU, the social media gaming company he co-founded.

Instead of elaborate business plans, The Lean Startup recommends the build-measure-learn feedback loop (Links to an external site.) for businesses to continuously test their vision, change direction before it’s too late, and thrive in an age when innovation and agility are extremely vital to success.

from the Northcentral University website.we don’t have exactly reference.

On April 5, Handy contracted to purchase land with the intent of forming a limited liability company (LLC) with Ginsburg and McKinley for the purpose of building a residential community on the property. On April 21, they learned from Coastal, an environmental consulting firm they had hired, that the property contained federally protected wetlands. The presence of wetlands adversely affected the property’s value and development potential. Handy, Ginsburg, and McKinley abandoned construction plans and instead decided to sell the property. To advertise and promote that sale, they placed on the property a sign that stated the property had “Excellent Development Potential.” Unaware of the existence of wetlands, Pepsi acquired an option to purchase the property from Handy on August 5. At that time, Willow Creek had not yet been formed and Handy had not yet purchased the property. On August 18, Handy, Ginsburg, and McKinley formed Willow Creek Estates, LLC. During the option period, Pepsi hired a soil-engineering consultant to conduct an environmental investigation of the property. In Handy’s written answers to specific questions from the consultant about the property, Handy did not disclose that the property contained wetlands or that Coastal had already performed a written preliminary wetlands determination the month before. On September 4, Willow Creek, LLC took title to the property. Four months later Willow Creek, LLC sold the property to Pepsi for more than twice the amount of its purchase price and did not disclose the existence of wetlands on the property. After Pepsi learned that the property contained wetlands, it brought an action for fraud against Willow Creek, Handy, Ginsburg, and McKinley.

a. What are the arguments that Handy, Ginsburg, and McKinley are not individually liable to Pepsi for fraud?

b. What are the arguments that Handy, Ginsburg, and McKinley are individually liable to Pepsi for fraud?

c. Explain who should prevail.