Bristol Blenheim in World War II

The Bristol Blenheim was a light bomber used by the Royal Air Force during the opening years of World War II. One of the first modern bombers in the RAFs inventory, it conducted the first British air attacks of the conflict, but soon proved highly vulnerable to German fighters. Outclassed as a bomber, the Blenheim found new life as a radar-equipped night fighter, maritime patrol aircraft, and a trainer. The type was largely withdrawn from frontline service by 1943 as more advanced aircraft became available. Origins In 1933, the chief designer at the Bristol Aircraft Company, Frank Barnwell, began preliminary designs for a new aircraft capable of carrying a crew of two and six passengers while maintaining a cruising speed of 250 mph. This was a bold step as the Royal Air Forces fastest fighter of the day, the Hawker Fury II, could only achieve 223 mph. Creating an all-metal monocoque monoplane, Barnwells design was powered by two engines mounted in a low wing. Though dubbed the Type 135 by Bristol, no efforts were made to build a prototype. This changed the next year when noted newspaper owner Lord Rothermere took an interest. Aware of advances overseas, Rothermere was an outspoken critic of the British aviation industry which he believed was falling behind its foreign competitors. Seeking to make a political point, he approached Bristol on March 26, 1934, regarding purchasing a single Type 135 in order to have a personal aircraft superior to any flown by the RAF. After consulting with the Air Ministry, which encouraged the project, Bristol agreed and offered Rothermere a Type 135 for  £18,500. Construction of two prototypes soon began with Rothermeres aircraft dubbed the Type 142 and powered by two Bristol Mercury 650 hp engines. Bristol Blenhiem Mk. IV GeneralLength: 42 ft. 7 in.Wingspan: 56 ft. 4 in.Height: 9 ft. 10 in.Wing Area: 469 sq. ft.Empty Weight: 9,790 lbs.Loaded Weight: 14,000 lbs.Crew: 3PerformancePower Plant: 2 Ãâ€" Bristol Mercury XV radial engine, 920 hpRange: 1,460 milesMax Speed: 266 mphCeiling: 27,260 ft.ArmamentGuns: 1 Ãâ€" .303 in. Browning machine gun in port wing, 1 or 2 Ãâ€" .303 in. Browning guns in rear-firing under-nose blister or Nash Thomson FN.54 turret, 2 Ãâ€" .303 in. Browning guns in dorsal turretBombs/Rockets: 1,200 lbs. of bombs From Civil to Military A second prototype, the Type 143, was also built. Slightly shorter and powered by twin 500 hp Aquila engines, this design was ultimately scrapped in favor of the Type 142. As development moved forward, interest in the aircraft grew and the Finnish government inquired regarding a militarized version of the Type 142. This led to Bristol beginning a study to assess adapting the aircraft for military use. The result was the creation of the Type 142F which incorporated guns and interchangeable fuselage sections which would allow it to be used as transport, light bomber, or ambulance. Bristol Blenhiem prototype. Public Domain   As Barnwell explored these options, the Air Ministry expressed interest in a bomber variant of the aircraft. Rothermeres aircraft, which he dubbed Britain First was completed and first took to sky from Filton on April 12, 1935. Delighted with the performance, he donated it to the Air Ministry to help push the project forward. As a result, the aircraft was transferred to the Aeroplane and Armament Experimental Establishment (AAEE) at Martlesham Heath for acceptance trials. Impressing the test pilots, it achieved speeds reaching 307 mph. Due to its performance, civil applications were discarded in favor military. Working to adapt the aircraft as a light bomber, Barnwell raised the wing to create space for a bomb bay and added a dorsal turret featuring a .30 cal. Lewis gun. A second .30 cal machine gun was added in the port wing. Designated the Type 142M, the bomber required a crew of three: pilot, bombardier/navigator, and radioman/gunner. Desperate to have a modern bomber in service, the Air Ministry ordered 150 Type 142Ms in August 1935 before the prototype flew. Dubbed the Blenheim, the named commemorated the Duke of Marlboroughs 1704 victory at Blenheim. Bristol Blenhiems of No. 62 Squadron at Singapore, February 1941.   Public Domain Variants Entering RAF service in March 1937, the Blenheim Mk I was also built under license in Finland (where it served during the Winter War) and Yugoslavia. As the political situation in Europe deteriorated, production of the Blenheim continued as the RAF sought to re-equip with modern aircraft. One early modification was the addition of a gun pack mounted on the aircrafts belly which featured four .30 cal. machine guns. While this negated the use of the bomb bay, it allowed the Blenheim to be used a long range fighter (Mk IF). While the Blenheim Mk I series filled a void in the RAFs inventory, problems quickly arose. Most notable of these was a dramatic loss of speed due to the increased weight of the military equipment. As a result, the Mk I could only reach around 260 mph while the Mk IF topped out at 282 mph. To address the problems of the Mk I, work began on what was eventually dubbed the Mk IV. This aircraft featured a revised and elongated nose, heavier defensive armament, additional fuel capacity, as well as more powerful Mercury XV engines. First flying in 1937, the Mk IV became the most produced variant of the aircraft with 3,307 built. As with the earlier model, the Mk VI could mount a gun pack for use as the Mk IVF. Operational History With the outbreak of World War II, the Blenheim flew the RAFs first wartime sortie on September 3, 1939 when a single aircraft made a reconnaissance of the German fleet at Wilhelmshaven. The type also flew the RAFs first bombing mission when 15 Mk IVs attacked German ships in Schilling Roads. During the wars early months, the Blenheim was the mainstay of the RAFs light bombers forces despite taking increasingly heavy losses. Due to its slow speed and light armament, it proved particularly vulnerable to German fighters such as the Messerschmitt Bf 109. Blenheims continued to operate after the Fall of France and raided German airfields during the Battle of Britain. On August 21, 1941 a flight of 54 Blenheims conducted an audacious raid against the power station at Cologne though lost 12 aircraft in the process. As losses continued to mount, crews developed several ad hoc methods for improving the aircrafts defenses. A final variant, the Mk V was developed as a ground attack aircraft and light bomber but proved unpopular with crews and saw only brief service. A New Role By mid-1942, it was clear that the aircraft were too vulnerable for use in Europe and the type flew its last bombing mission on the night of August 18, 1942. Use in North Africa and the Far East continued through the end of the year, but in both cases the Blenheim faced similar challenges. With the arrival of the De Havilland Mosquito, the Blenheim was largely withdrawn from service. The Blenheim Mk IF and IVFs faired better as night fighters. Achieving some success in this role, several were fitted with the Airborne Intercept Mk III radar in July 1940. Operating in this configuration, and later with the Mk IV radar, Blenheims proved capable night fighters and were invaluable in this role until the arrival of the Bristol Beaufighter in large numbers. Blenheims also saw service as long-range reconnaissance aircraft, thought they proved as vulnerable in this mission as when serving as bombers. Other aircraft were assigned to Coastal Command where they operated in a maritime patrol role and aided in protecting Allied convoys. Outclassed in all roles by newer and more modern aircraft, the Blenheim was effectively removed from frontline service in 1943 and used in a training role. British production of the aircraft during the war was supported by factories in Canada where the Blenheim was built as the Bristol Fairchild Bolingbroke light bomber/maritime patrol aircraft.

HM Analysis - 1227 Words

Introduction In this report, an inside look will be taken on Hennes Mauritz AB (HM). We will analyse on it using PESTEL, Porter’s Five Forces and SWOT to get a clear concept of what HM is today and where it can go. This positioning will be helpful in strategy designing. Company activities HM was established in Và ¤sterà ¥s, Sweden in 1947 by Erling Persson. We now sell clothes and cosmetics in around 2.200 stores around the world. * HM offers fashion and quality at the best price * HM offers fashion for women, men,teenagers and children. * HM also sells own-brand cosmetics, accessories and footwear * HM doesnt own any factories, but instead buys its goods from around 700 independent suppliers, primarily in†¦show more content†¦2. Innovation HM sells the latest trend. It adapts to every age and also to the tastes and needs of its customers. 3. Market share leadership HM adopts and implements better technologies immediately, whenever they become available, regardless of whether or not any other organizations are currently using them. 4. Strong financial position Due to the entry into new markets around the world, H M has achieved a better economic position. - Weaknesses 1. Large volumes of buying They buy large volume of garments direct from the manufacturer; they have very few middle man and efficient logistics. 2. No real focus on a target customer HM sells in department stores, offering clothes for men, women and children of different ages, so it does not focus on a single market segment. - Opportunity 1. Trend of E-Purchasing More and more people have experienced shopping online and there are a increasing number of people who prefer E-Purchasing. 2. Fashion trend of more environment-concerned People are taking more and more consideration on environmental stuff. HM has done quite well in sustainable improvements. (Activities about this are shown in the appendix.) 3. Trend of crossover There is a trend of crossover in fashion field. In HM, there are existing collaborations with designers, such as with Karl Lagerfeld, Stella McCartney, Viktor Rolf, Roberto Cavalli, Comme des Garcons, Mathew Williamson, Jimmy Choo and Sonia Rykiel. - Threats 1. Exchange rateShow MoreRelatedHM Analysis4725 Words   |  19 PagesContents____________________________________________________ Executive summury Company analysis 1.1 Company Description 1.2 Key Financial Data 1.3 Ethical Position and Recent News 2.1 S.W.O.T Analysis 3.1 Peer Benchmarking 3.2 Porter’s Generic Strategies 4.1 Conclusion 4.2 Recommendation Appendix: Team Reflection References Additional Appendices 1.1 Company Description___________________________________________ Hamp;M is a leading brand in producing frontline affordable fashionRead MoreHM SWOT Analysis3898 Words   |  16 PagesHM Analysis Summary HM is a Swedish company founded in 1947. It is a family owned company controlled by Stefan Persson and family. HM act in the fashion industry and are one of the really big global players with 2078 stores in more than 30 countries. In 2009 they launched HM Home which sells interior textiles through internet. Recently HM have launched several new store concepts. Other than the HM stores there are now also Weekday, Monki, COS and Cheap Monday stores. HM’s new concept storesRead MoreHM company analysis4098 Words   |  17 Pages1-2 1.0 Company Background 1.1 HM History 1.2 Products, Strategy, Vision and Mission Statement 2-3 2.0 Strategy Planning 2.1 Establishment Effectiveness of Vision, Mission and Goals 2.2 External Analysis 2.2.1 Opportunities 2.2.2 Threats 2.3 Internal Analysis 2.3.1 Strengths 2.3.2 Weaknesses 2.4 SWOT Analysis 2.5 Benchmarking 2.6 Hierarchy of strategy 2.7 BCG Matrix 4-9 3.0 Conclusion 3.1 Advice 3.2 Future Plan Reference History of HM HM were established in VasterasRead MoreHM Company Analysis Essay7159 Words   |  29 PagesCOMPANY ANALYSIS amp; PROBLEM IDENTIFICATION MARKETING MANAGEMENT BMKT601 TABLE OF CONTENTS Contents 1. EXECUTIVE SUMMARY 3 2. FAST FASHION 4 3. ENVIRONMENT ANALYSIS 4 3.1. Political Factors 4 3.2. Economical Factor 5 3.3. Social Factors 6 3.4. Technology Factors 6 4. INDUSTRY ANALYSIS 6 5. Hamp;M 8 6. STRATEGY 10 7. SEGMENTATION 11 8. TARGETING 13 9. POSITIONING 14 10. CONSUMER BEHAVIOUR 15 11. MARKETING 17 12. SUPPLY CHAIN 22 13. CONCLUSIONRead MoreHM Accounting Analysis Report2940 Words   |  12 Pages Business Analysis Overview The Swedish company Hennes Mauritz AB is the second largest clothing retailer in the world, just behind Spain-based Inditex (parent company of ZARA). The HM Group’s business consists mainly of sales of clothing, accessories, footwear, cosmetics and home textiles to consumers. In addition to HM Home, the group also owns several brands, as shown here, which make the company well-knownRead MoreHM- Brand and Distribution Strategy2245 Words   |  9 PagesBrand Analysis and Distribution Strategy by DIANA CAMPOS 1 Table of Contents 1. Intro: The HM Hennes and Mauritz AB Group 2. HM The Brand 2.1. Company Profile 2.2. Environment of the brand 2.3. Target consumer 2.4. Geographical extension 2.5. Turnover 3. Distribution Strategy 4. Conclusion Bibliography 3 3 3 4 6 6 7 8 10 11 2 1. Intro: The HM Hennes and Mauritz AB Group The HM Hennes and Mauritz AB Group is a Swedish multinational retail company, considered the second retailer in theRead MoreH M s Mission4131 Words   |  17 PagesProject- HM Part 1 HM’s Mission/Vision Hennes and Mauritz AB is a Swedish retail-clothing company, which has expanded enormously in the past years. HM has grown from one single store in a small town in Sweden to a multinational ranked as the second largest global fashion retailer with its 3,600 stores in over 58 countries and $22 billion in annual sales (The World’s). This incredible story of success makes us wonder about their strategies and how they managed to get where they are today. HM’s visionRead MoreHM Report2508 Words   |  11 PagesTable of contents 1. Introduction 2. Macro environmental analysis (PESTLE- political, economic, social, technology, legal, ecological) 3. Customer analysis 4. Market description 5. SWOT analysis (Strengths, weaknesses, opportunity, threats) 6. Conclusion and Recommendations 7. References P.1 D002 Read MoreZara vs H M - Competitor Analysis1655 Words   |  7 Pagesglobally to a standing of 1,671 stores. Zara Company has become an icon for Spanish fashion. BRAND IDENTITY : Hamp;M offering fashionable clothing for the best price. They mean that all people who want to be fashionable should have the right to be it. The price should not be a holdback. Hamp;M have a mission that it should be possible for everybody to find their personal style in Hamp;M ´s collection. The target group is everyone who is interesting in fashion. They offer a couple of different conceptRead MoreAbercrombie Fitch vs. HM: Financial Analysis848 Words   |  3 Pagesfollowing line items for its shareholder equity: common stock, paid-in capital, retained earnings, accumulated other comprehensive income and treasury stock. HM lists the following line items under its shareholder equity: share capital, reserves, retained earnings and profit for the year. There are some distinct differences. For example, on the HM statement, profit for the year and retained earnings (presumably from prior years) are listed separately, even though they are both forms of retained earnings

The Dividend Policy Test Free Essays

Q1. There are following assumptions to be used for Modigliani and Miller’s dividend irrelevancy theory. Which are the correct assumptions? (MRQ) There are no tax preferences Transaction cost is insignificant Directors convey all information to shareholders No inflation (2 marks) Q2. We will write a custom essay sample on The Dividend Policy Test or any similar topic only for you Order Now Select the appropriate option for the given statements relevant to irrelevancy theory. (HA) All shareholders want their wealth to increase TRUE FALSE As dividends are paid share price increases TRUE FALSE (2 marks) Q3. The process of manufacturing dividends in the dividend irrelevance theory refers to? (MCQ) Dividends received from a manufacturing company Sale of shares by the investors to earn dividends Plans set to earn a continuous return Creative accounting to pay a dividend (2 marks) Q4. The ‘dividends as residuals’ view of dividend policy are best described as (MCQ) Dividends are paid if the company generates profits greater than the prior year (The difference is residual) The profits made by the division of the company in a particular city should be paid to shareholders of the same city Dividends should amount to the entire annual profit less the amount paid in manager incentive schemes Dividends should only be paid out of cash flow after the company has financed all its positive NPV project (2 marks) Q5. In which situation does a residual dividend policy is likely to be applicable? (MCQ) A public listed company In a market norm where taxes on dividends are lower A small listed company seeking maximum capital growth for shareholders An unlisted family business where earnings are based on dividend income (2 marks) Q6. The companies have following payment history: 2015 2016 2017 Tuna Co (Dividend) 400 410 421 Tuna Co (Earnings) 800 800 801 Sauna Co (Dividend) 20 80 10 Sauna Co (Earnings) 40 160 20 Mona Co (Dividend) 0 100 0 Mona Co (Earnings) 200 150 300 The dividend policy for each company is? (HA) Tuna Co CONSTANT GROWTH CONSTANT PAY-OUT RESIDUAL Sauna Co CONSTANT GROWTH CONSTANT PAY-OUT RESIDUAL Mona Co CONSTANT GROWTH CONSTANT PAY-OUT RESIDUAL (2 marks) Q7. Juju Co. director has given the following statement at the annual general meeting â€Å"In my childhood, I got a rise in my half-yearly allowance from my father and I expected it to continue in the future. The shareholders expect the same to have a rise in their dividends†. Which of the following supports the statement of the director? (MCQ) Dividend irrelevancy theory Dividend dependency theory Director is concerned about the company liquidity Director indicates a signaling effect on dividends (2 marks) Q8. Which of the following given below relate to Dividend relevance theory keeping in mind having an imperfect capital market? (MRQ) Taxes applicable on dividends ; capital gains are different Shareholders have not disclosed all information received to the directors No transaction cost is applicable Shareholders would like a stable or growing dividend policy (2 marks) Q9. Which of the following factor affect the shareholder in setting its dividend policy? (MCQ) The local laws ; regulations given by the government The repayment of new debt finance in 10 years The deflation effect The demand for customers products (2 marks) Q10. A scrip dividend is a: A dividend paid at a fixed rate on the face value of the shares A dividend paid at a fixed percentage rate on the market value of the shares on the date that the dividend is announced A dividend payment that converts in a form of new shares instead of cash A cash dividend that is variable and is decided upon by the directors and approved by the shareholders (2 marks) Q11. Select appropriate option in relation to scrip dividends. (HA) It can save the company’s cash if a number share options are taken up by the shareholders ADVANTAGE DISADVANTAGE Scrip dividends may trigger a negative signaling effect ADVANTAGE DISADVANTAGE (2 marks) Q12. Which of the following is a drawback of a share repurchase scheme? (MCQ) Increase in earnings per share Increase in gearing The possibility of a takeover is reduced Some shareholders may suffer tax on capital gain after the purchase of shares (2 marks) DIVIDEND POLICY (ANSWERS) Q1. There are no tax preferences (Assumption) Transaction cost is insignificant (Assumption) Directors convey all information to shareholders (Assumption) No inflation, MM theory does not state anything about the existence or otherwise of inflation Q2. All shareholders want their wealth to increase TRUE As dividends are paid share price increases FALSE All the shareholders are concerned about their wealth increment whether by capital gains or by the dividend. The share price decreases as dividends are paid because if there will be no retain earnings left by the company new equity will have to be raised resulting decrease in share prices. Q3. B Q4. D The residual theory states that if a company can identify positive NPV projects it should invest in them. Only when these investment opportunities are exhausted should dividends be paid Q5. C Residual income will not give a reliable income is geared to financing investments that provide capital gains. Q6. Tuna Co CONSTANT GROWTH Sauna Co CONSTANT PAY-OUT Mona Co RESIDUAL Tuna Co dividends grow at 10% per annum. Sauna Co pays a 50% of its earnings as dividends Mona Co dividends are not connected with earnings so their policy is residual Q7. D Q8. All others are correct except for No transaction cost Taxes applicable on dividends capital gains are different Shareholders have not disclosed all information received to the directors No transaction cost is applicable (Applicable only if there is a perfect capital market) Shareholders would like a stable or growing dividend policy Q9. A The local laws regulations given by the government The repayment of new debt finance in 10 years. The repayment of previous debt should be considered rather than the new debt finance. The deflation effect. The consideration should be of inflation effect rather than deflation as deflation is a benefit The demand for customer products. Dividends are given to shareholders rather than to customers. Q10. C A dividend paid at a fixed rate on the face value of the shares would most commonly be a preference dividend. A cash dividend that is variable and is decided by the directors and approved by the shareholders is a definition of a normal dividend. Q11. It can save the company’s cash if a number share options are taken up by the shareholders ADVANTAGE Scrip dividends may trigger a negative signaling effect DISADVANTAGE Q12. D Increase in earnings per share, through a reduction in the number of shares in issue.(Advantage) Increase in gearing, Repurchase of a company’s own shares allows debt to be substituted for equity, so raising gearing. (Advantage) The possibility of a takeover reduced, Share repurchase might prevent take over as this can enable the company to withdraw from the market. (Advantage)   Some shareholders may suffer tax on capital gain after the purchase of shares (Disadvantage) How to cite The Dividend Policy Test, Papers