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SEATTLE PACIFIC UNIVERSITY

School of Business and Economics

Problems in Corporate Finance Office: McKenna 215

BUS 4274, CRN 3499 Phone: 281-3523
Dr. Herbert Kierulff Otto Miller Hall 126
hkierulf@spu.edu Hours: TTh; 11:30-12:45
Autumn Quarter, 2014 and by appointment
Tuesday-Thursday 12:50-2:50

Welcome to Autumn Quarter and BUS 4274. This class is one of two
(BUS 4274 and 4275) dealing primarily with financial analysis and
valuation. These two topics, along with Investments taught by Dr. Hess,
represent the most challenging and essential finance areas to learn
about in an academic setting.

To make the learning most practical, Moss Adams (the 11th largest
accounting firm in the U.S.) has given us a company to value—DEF Road
Construction Corp. (the Case). The Case is real in every respect except
that names and some places have been changed for confidentiality
purposes. You will update the case in teams of 5 students in each team
(no more, no less).

We will use, among other sources, free databases from Business

Valuation Resources LLC (BVR): http://www.bvmarketdata.com. These
resources would cost over $5,000 per year if you had to pay for them as
a non-student. BVR is internationally known as the 'go to' data and
information source for appraisers, lawyers, accountants, educators, and
other financial professionals who value public and private companies
and other asset combinations.

Over the last three years, we made a team competition out of the
valuaton. Last year we added a national component and called it the
Private Business Valuation Challenge℠. If you are selected as part of a
team to compete in the national competition, I will work with you
separately to develop your valuation for presentation in the
competition. You will compete with teams from eight other universities
on April 24-25, 2015 at the Columbia Tower Club in Seattle (an
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exclusive business and social club located on the 75th floor of the
Columbia Tower Building). You will get credit for having compeleted
BUS 4275 at that time. Last year's team came in third in an intense
competition. The team did us proud.

Moss Adams valuation experts and others will judge the competition.
For more information, go to our web site. Follow the Valuation
Challenge on our blog in the web site.

If your team is not selected, it will be automatically entered into the

"2015 Valuation Challenge at SPU" in Spring 2015 assuming you
continue on with BUS 4275. The best team presentation and valuation
paper in the Spring class will win the SBE Award for Outstanding
Performance in Valuation.

COURSE OBJECTIVES AND OVERVIEW: The course’s general objectives are

to improve your skills in:

 Doing short and long term financial planning and

budgeting, strategic analysis and decision making under
conditions of rapid change and uncertainty.
 Applying the fundamental and practical principles of
valuation to pricing and to real investment
opportunities.
 Gathering information, separating relevant from
irrelevant factors, selecting and evaluating relevant
options with regard to their consequences, and
selecting and defending a course of action.
 Conceptualizing complex issues and reducing them to
coherent written and oral statements.
 Integrating valuation and investment analysis with the
other functional areas of business administration
including business processes and information
technology.
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 Working effectively within group settings;

demonstrating friendship, civility, respect, servant
leadership, and community.
 Integrating as appropriate the practical lessons of
Christian spirituality including ethics, faith, values, and
personal integrity.

The course builds upon and applies tools, concepts and methodologies
learned in the prerequisites for this class, but we will stick to the
fundamentals of theory. The course is first and foremost a course in
evaluation and application of theory rather than the introduction and
examination of theory.

This case based course requires you work in teams because cases
discussed in teams seem to be among the best vehicles for learning.
Recent research into learning reveals that most people retain:

 10% of what they read

 20% of what they hear
 30% of what they see
 50% of what they both see and hear
 70% of what is discussed with other people
 80% of what they personally experience
 90% of what they teach to someone else

Working in teams on cases places you in the 80-90% category, 90% to the
extent that you learn the material and relate your knowledge to others in your
team.

The specific objectives of the course are for you to develop an understanding
of each of the following five areas and be able to apply the tools and concepts
associated with each to real business situations:

I. Financial Statements and Budgets

A. What they mean and how they interrelate
B. Key business and financial ratios
C. Concepts: required, expected, actual, cost-benefit, risk-reward
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D. Analysis: trends, comparables, and rules of thumb; specific risk

factors, the 5 C’s of credit and fatal flaws; sensitivity analysis,
scenario analysis.

II. Operating and capital budgeting.

III. Methods of valuing

A. Asset: what you can do it for (buy the components or build yourself)
B. Market (comparables): what somebody else is selling / buying it for
C. Income (intrinsic value): expected future net benefits
1. In terms of time: payback period, discounted payback
2. In percentage terms: ROE, ROA, ROSE, ROTC, IRR and MIRR.
3. In currency: present value, net present value

IV. Discounting to present value

A. Certainty equivalents
B. Best estimate free cash flows

V. Doing macroeconomic and industry studies relevant to a company

TEXTS AND READINGS:

You may obtain the Harvard cases and other material for this course at a
50% discount or free by following this course link:

https://cb.hbsp.harvard.edu/cbmp/access/27980507

You must register with Harvard Business School Press to gain access.

All the other assignment materials are free including BVR, Zenwealth, and the
blackboard materials. The value of Zenwealth is that it has helpful practice
problems with answers. You are urged to do as many of these problems as
you need to feel confortable with the subject matter. However, be careful with
the formulas supplied by Zenwealth author. They tend to be involved and
unnecessary for this course. The subject matter of all the materials is then to
be applied to Harvard Business School cases, cases that are real situations,
and to the exams. I will take some exam questions from Zenwealth.
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If you feel you need a corporate finance text, free ones (with advertising) are
available at bookboon.com. Select “Textbooks” from their home page and look
in “Economics and Finance” or "Business" and "Accounting and Finance" in
the search box.

The most popular textbook in finance is Brealey, Myers & Allen Principles of
Corporate Finance. I recommend the 10th Edition because it covers all the
issues we need for this class and is less expensive than later editions. It has
problems at the end of each chapter, and I put the answers on blackboard. I
have included relevant chapters to read each week in the Course Outline
below.

If you need a quick review of accounting principles, get familiar with

www.AccountingCoach.com. The site features some materials we will cover in
class and provides sample quizzes.

PREREQUISITES AND ATTENDANCE:

It is assumed that you have had the appropriate prerequisites for this course
or their authorized equivalents, and retain an understanding of the
fundamentals of finance. However, we will review in some detail the theory
underlying all of the applications in this course. It is important that you
attend all classes.

ASSIGNMENTS:

Harvard Case Analyses. The first day of class, I will ask you to form
study groups of five people. You choose the participants in your team.
Each study group will prepare responses to the case questions in this
syllabus during class (and afterward, if necessary) and will email each
question set to hkierulf@spu.edu and marksabo@financial-horizons.biz
on or before midnight on the following Sunday. That way, I will have an
idea of how well the class understands the case prior to the next time we
meet. My answers to the case questions will be available on blackboard
by midnight on Sunday. I will be available during class as your
consultant while you work on the cases. After class, I can be reached by
phone, e-mail, or special appointment. My reason for assigning the
questions at the end of this syllabus is to give you some guidance and
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organization in approaching each case. Only a few grade points are

assigned to the cases because the reason for the cases is to help prepare
you for the exams that do count heavily.

Two or three paragraphs are generally sufficient to answer each

question. Often a spreadsheet or number will do it, but you should show
your calculations and defend them by enumerating your assumptions.
Your team’s case lowest grade during the quarter will be dropped.
However, you must do and turn in the last case in the class.

Each of you should analyze the differences between my answers to the

case questions and your team’s answers. You should be sure that by
changing your assumptions and fixing any errors, you come up with the
same spreadsheet answers I did. Because there often are no right
answers to many of the issues in a case you are encouraged to submit
your disagreements knowing that I will welcome (and reward) reasoned
arguments based upon your experience and logic. If you don’t go back
and correct your mistakes or misunderstandings you lose a great deal of
learning that can be valuable on the next exam and in later business.

The case analysis questions are graded very leniently. I don’t expect you
to have all the “right” answers, if there are such answers. I do expect a
good effort which clearly indicates that the team members have (1)
studied—not just read—the case; (2) discussed it; (3) recommended
decisions where appropriate; (4) backed up recommendations with
reasoned arguments and (5) made a serious attempt to run the numbers
if appropriate (i.e., applied the quantitative tools of financial analysis and
valuation). This latter point (5) is very important.

Quiz: A quiz on every other Tuesday (with the exception of 10/9) will
cover one or more of the following: previous exam, readings, lectures,
and case(s) from the last exam, and/or current day’s (Tuesday) readings
and case. Since the course builds upon itself, a quiz may relate to
concepts discussed in classes prior to the previous two weeks. A
question about the current case will be designed to determine that you
have read and studied the case before coming to class and are prepared
to discuss it with your team. A current case question will not be
technically difficult since you will not be expected to know the tools and
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concepts to be learned in that case. The quiz will be emailed to you in

class.

You take the quiz during the announced quiz period (approximately 30
minutes) and email it to hkierulf@spu.edu. and marksabo@financial-
horizons.biz. Please be sure to save your exam and put your last name
on the exam icon before you email the exam. The exam idea is to keep
you current in this class because many of these cases and learning
opportunities build on past material. There is no final exam.
Presentations will be made during finals time. If you cannot take an
exam due to illness or family emergency I will need to know beforehand
by phone or email. I will give you the average of your other grades in
that case. I may require a note from a doctor or minister. If you are
away from campus, you can still take the exam since I will email it to the
class. You have one such opportunity.

In studying for the quizzes, it is helpful to prepare reference sheets.

These may be hand written or typed on 8 ½” X 11” paper. These
reference sheets are useful because their preparation helps you learn
and organize the information both visually and tactilely. (You learn by
writing things down). Also, you will not have to memorize as much. For
these reasons, you may bring one hard-copy reference sheet written on
both sides to each quiz.

Your laptop should have enough memory to last through the quiz period.
The only thing showing on your computer should be the quiz unless I
specify otherwise. I will email answers to you. You should review your
exam and analyze the differences between my answers and yours.

Individual participation grade determined by team members. At the

end of the course each of you will have up to 400 points for a five-person
team. Evaluate your team members on the basis of the quality of their
participation in the analysis of cases and company analysis. You may give
more or less than 100 points to another team member, but the total
points you give cannot exceed 400 points. The numbers for each of your
team member’s participation should be included on Exam 8. If you elect
not to put individual participation numbers on that exam, I will assume
that you awarded each of your other team members 100 points.
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The scores for each team member will be averaged and multiplied by the
person's average exam grade to get the individual participation grade.
For example, if a person averages 95 on the exams and averages 100%
on individual participation, the participation grade will be 95. If the
individual points are 110, the participation grade will be 104.5.

The Case Analysis. Each team will prepare an Executive Summary consisting
of a one to three-page analysis of the economy as it applies to the Case, a three
to five page analysis of the industry as it applies to the Case, and a seven to ten
page analysis of the Case company itself along with the update to the year of
valuation of Exhibits 1-7. Use the Valuation Executive Summary
http://www.bvchallenge.org/fundamentals/ (under Course Materials) as a
general guideline with the understanding that you must pick and choose the
most important areas to work with. You may add as many appendixes as you
like to the analysis.

The Executive Summary should include recommendations to management

based upon your evaluation—for example, do the ratios compared with the
past and the RMA averages suggest action to be taken by management? (RMA
refers to the Risk Management Associates Annual Statement Studies that I will
provide.) The economic analysis can, in part, be taken directly from BVR’s
Economic Outlook. Just provide a summary of what they have using quotation
marks where you quote directly. Your analysis of the expected effect on DEF
should be included in the one to three-page economic report and in the
industry analysis. Remember to be careful about using information in
economic reports gathered after the valuation date because those would not
have been available at the time of the valuation and may be challenged.

Double space all written work and use 14 point Cambria (or similar) font
on a Word document. Do not submit a pdf document. Use tables, charts, and
other displays when they will make your point clearer or more concise. Use
The Everyday Writer as your resource. For your references, use the American
Psychological Association guidelines provided in The Everyday Writer or other
APA source. Please follow these instructions fully to optimize your grade on
the paper. Papers not using APA and not following other requirements will
lose points.
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Please turn your papers in as attachments to an email. Do not submit hard

copy documents. I will review your papers, make comments, and email them
back to you.

Presentations of the Case

Each team will have 20 minutes to present its findings followed by 10 minutes
for Q&A. The evaluation form for the presentation may be found at the end of
this syllabus.

GRADES AND GRADING

Each exam, case, and paper will be given a number which corresponds to the
following letter grades: A=94-100; A-=90-93; B+=87-89; B=84-86; B-=80-83;
C+=77-79; and so on. Grades will be weighted as follows:

Case questions (lowest case grade dropped) percent 10 percent

Exams 55
Team participation grade 10
Team economic and industry report 15
Team presentation 10

Extra credit for evaluating the course: two points added to your exam grades.
If everyone evaluates the course and sends me an email with the Registrar's
receipt of the evaluation, I will send out the papers and grades early.

In the past, some students have inadvertently violated SPU standards of

scholarship, particularly the rules on plagiarism. You are encouraged to
review the standards published in the SPU Catalog and The Everyday Writer
for guidance on this subject.

Here are four tips for success in this course: (1) be present and
take excellent notes, (2) study the cases thoroughly before class
time, (3) use the problem sets to enhance your understanding, and
(4) read this syllabus carefully with particular emphasis on the
objectives of the course.

To ensure your privacy, your graded exams will be returned to you by

email.
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PRELIMINARY COURSE OUTLINE

Date Topic Assignment

9-30 Introduction to the Syllabus in blackboard
course
Valuation Factors (Website: Valuation
Fundamentals) http://www.bvchallenge.org

Review of Financial Statement Example (Website)

Financial
Statements and http://www.zenwealth.com/BusinessFinanceOn
Ratio Analysis line/RA/RatioAnalysis.html. Read during class
and after. Do problems in these Zenwealth
Case Analysis presentations as you need, but don’t hand in.

Cartwright Lumber Company (Case Question 1)

Cartwright Spreadsheet (remember that most
of our cases have spreadsheets for your use)
10-2 Case Analysis Cartwright Lumber Company (Case question 1)

Financial http://www.zenwealth.com/BusinessFinanceOnl
Statements ine/FCF/FCFEquations.html. Read prior to
class, do problems, but don’t hand in. Note that
Ratio Analysis working capital should include only operating
working capital.

Risk Management Association (RMA) Annual

Statement Studies. Review in class.

Review the Economic Outlook Update in

www.BVLibrary.com. Use this in your team
industry study.

Financial Statement Analysis (Website) Do in

class

Financial Ratio Analysis (in blackboard). Read

if you believe you need extra information on
ratios.
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BMA (Brealey, Meyers, Allen) Ch. 28

10-7 Case Analysis Cartwright Lumber (Case questions 2-5)

Iteration and Financial Statement Analysis (Cont.)

Solver http://www.zenwealth.com/BusinessFinanceO
nline/FF/FinancialForecasting.html Prior to
Forecasting and class, read Percentage of Sales Method only.
Industry Analysis
Subscribe to BVWire Weekly E-Newsletter. It’s
Taking purchase free. Link: http://www.bvresources.com/
discounts
BMA Ch. 29
The 5 C’s of Credit
10-9 Case Analysis Exam 1

Library Resources Cartwright Lumber (Case questions 2-5)

for Industry
Studies Guest Lecture

HBS Case Note on Bank Loans

BMA Ch. 30
10-14 Case Analysis Radio One (Case questions 1 & 2)

Methods of Valuation Methods (Website). We will discuss

Valuation in class.

BMA Ch. 2, 3.1, 3.5, 3.6

10-16 Case Analysis Radio One (Case questions 1 & 2)

Transaction Market Method basic (Website)

Multiples
Pratts Stats and Public Stats are available from
left-hand column of www.BVMarketData.com.
Do in class. Read FAQs for Pratt’s Stats.

How to Use Transactional Databases for Private

Company Valuations: A Primer (A 2013
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Update), BVR Free Resources and Podcasts

BMA Ch. 4
10-21 Case Analysis Exam 2

Using PitchBook Monmouth, Inc. (Case questions 1 & 2)

Cash Flow, Net Free Cash Flow (Website). Discuss in class

Present Value &
Investment PitchBook (Guideline Public Co. Comps Tool),
Criteria left-hand column: www.BVMarketData.com.
Do in class.

Read PitchBook FAQs in BVR.

BMA Ch. 31
10-23 Case Analysis Monmouth, Inc. (Case questions 1 & 2)

Guest lecture http://www.zenwealth.com/BusinessFinanceOnl

ine/FCF/FinCashFlow.html Note that Zenwealth
uses actual taxes, not tax before interest. Our
approach is slightly different.

BMA Ch. 32
10-28 Case Analysis Free Cash Flow (Website). Discuss in class

Cash Flow, Net Three Problems (in blackboard).

Present Value &
Investment The Replacement Decision: Getting it Right (in
Criteria blackboard). This shows you how to do
Problem Two of the Three Problems
Behavioral Finance
http://www.zenwealth.com/BusinessFinanceOnl
ine/CB/CapitalBudgeting.html

Valuation Methods (Website)

Free Cash Flow (Website)

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Present Value & Terminal Value (Website)

BMA Ch. 5
10-30 Case Analysis Three Problems.

Investment Present Value & Terminal Value (Website)

Strategy
BMA Ch 6
11-4 Case Analysis Exam 3

Stryker Corp.

Investment Analysis and Lockheed Tri Star

Doing NPV Better (Read the Lockheed Case before class, but do
not turn in). Do not do the case questions in the
case itself. We will discuss in class.

NPV: Doing it better (Website)

Course Materials on Cost of Capital (Website):

pp. 1-4
11-6 Case Analysis Stryker Corp.

http://www.zenwealth.com/BusinessFinanceO
nline/BV/BondValuation.html

Component costs WACC-CAPM-APV (Website)

of capital
BMA Ch. 7
11-11 Case Analysis Radio One (Question 3)

http://www.zenwealth.com/BusinessFinanceOnl
ine/SV/StockValuation.html

Beta Course Materials on Cost of Capital (Website):

pp. 5-8

WACC-CAPM-APV (Website)
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BMA Ch. 8
11-13 Case Analysis Monmouth, Inc. (Questions 3 & 4)

http://www.zenwealth.com/BusinessFinanceOnl
ine/RR/RiskAndReturn.html
Note that there are several obvious errors in
Zenwealth Risk and Return. They should not
detract from the learning.

Beta and Levering Course Materials on Cost of Capital (Website):

pp. 8-end

Estate of Gallagher vs. Commissioner.

http://www.bvresources.com/freedownloads/
EstateofGallagher.pdf pp. 1-22

WACC-CAPM-APV (Website)

BMA Ch. 9
11-18 Case Analysis Exam 4

Midland Energy Resources

WACC-CAPM-APV (Website)

Estate of Gallagher vs. Commissioner.

http://www.bvresources.com/freedownloads/
EstateofGallagher.pdf pp. 23-42

BMA Chs. 13, 19-4

11-20 Case Analysis Midland Energy Resources

Valuation Basics (Website)

11-25 Case Analysis Valuation Basics (Website)

Guest Lecture BMA Ch. 14

11-27 THANKSGIVING
HOLIDAY NO
CLASS
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12-2 Guest Lecture Exam 5

12-4 Presentations Presentations: Teams 1-3

12-9 Presentations Presentations: Teams 4-6
10:30 – 12:30
Otto Miller 126
Team Economic, Industry and Business Study
FINAL PAPER DUE due by class time: 10:30—email it to me.

CASE QUESTIONS

CARTWRIGHT LUMBER COMPANY

1. Is this company healthy?

A. Construct common size statements for the years 2001 through
2003 based upon sales for the income statement and balance sheet
and total assets for the balance sheet.
B. Do a ratio analysis using the basic ratios shown in the
Cartwright Spreadsheet available on blackboard.
C. Analyze the income statement and balance sheet from 2001
through 2003 explaining what they tell you, but not making
specific recommendations at this time. (When depreciation is not
shown separately in these cases, you may assume it is included in
the cost of goods sold (cost of sales) and operating expenses.)

2. Do you agree with Mr. Cartwright’s estimate of the company's loan

requirements? How much will he need to borrow to finance his expected
expansion in sales? Assume a 2004 sales volume to be that mentioned in
the case, that there were no purchase discounts for the period January 1
to December 31, 2004 and beyond, and that the relationships between
sales and those income and balance sheet line items that vary with sales
will be the same in 2004 as in 2003. Ignore the data in the case for the
first quarter of 2004 in answering this question.

3. Does it make sense for Mr. Cartwright to take the purchase discounts if
he can? How will this affect his cash requirements for 2004? What
would the income statement and balance sheet look like if he took the
discounts for the entire 2004 year?
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4. Why would Mr. Cartwright have to borrow money to support this

business? After all, he's making a profit and has been doing so for many
years.

5. What would you recommend to Mr. Cartwright? To the banker? Use

the 5 C’s of credit in your recommendation to the banker.

RADIO ONE

1. Why does Radio One want to acquire the 21 stations? What are the
benefits and risks?

2. What price should Radio One offer for the 21 stations based upon a
transaction and trading multiples analysis?

3. What price should Radio One offer for the 21 new stations using the
income method?

You can make the following assumptions:

a. Corporate expenses will be 2% of BCF for the new acquisitions.

b. The tax rate is 34%.
c. You may use Exh. 7to estimate working capital. Assume that the
required cash is 3 % of Net Broadcast Revenue outlined in Exh 6 for 1999.
Apply your working capital ratio to Net Revenue (Potential New Markets
in Exh. 9) to obtain working capital for future years.
d. Depreciate capital expenditures on a straight-line basis over five years.
e. Assume that Net Revenue and EBITDA both grow at a 10 percent rate
after 2004, but slow to 4% after 2015.
f. Assume that the local marketing arrangement fees part of BCF are
negligible.
g. Assume Rm-Rf, the market risk premium, is 5%.

Besides these assumptions, here are some hints:

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1. Be very sure you know how BCF is calculated.

2. Be very careful what you include in working capital. Remember our
definition.
3. Income taxes payable in the balance sheet are very high in 1999
probably because of the rapid growth in 1999. I would replace the $1.532
million with $300,000 to get a better long-term working capital ratio. The
deferred income taxes may have had to do with the acquisitions, so they
may disappear in the future.

MONMOUTH, INC.

1. If you were Mr. Vincent, executive vice president of Monmouth, Inc., would
you try to gain control of Robertson Tool in May 2003?

2. What is the stand-alone value of Robertson Tool based on EBIAT and

Price/Earnings multiples analysis (Exhibit 6) using the market method? What
is Robertson's value combined with Monmouth assuming Monmouth realizes
the COGS and operating cost savings possible with Robertson? Assume taxes
at 40.9%.

3. What is the stand-alone value of Robertson based upon a discounted cash

flow valuation? Assume a debt beta of 0. Then, assume a debt beta of 0.2 and
compare the results with those you got with a debt beta of 0. What is the
value combined with Monmouth assuming the cost savings?

4. Why is Simmons eager to sell its position to Monmouth for $50 per share?
What are the concerns of and alternatives for each of the other groups of
Robertson shareholders?

Assume a future debt to total capital ratio of 29%, and that the Robertson’s
working capital to sales ratio will drop to 40%. Use the Harris-Pringle beta
formulas. Assume debt cost at 5.5% pre-tax. Assume the "Other" current
liabilities in Exhibit 2 are interest bearing.

STRYKER CORP.
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1. Use the projections provided in the case to compute incremental cash

flows for the PCB project, as well as its NPV, IRR, and payback period.
Calculate MIRR assuming a reinvestment rate of 15%. Note that
architectural and engineering fees are tax deductible as expenses.
Assume no capital gains or losses when the assets are valued at the
end of 2009.

2. Based on your analyses, would you recommend that Stryker

Instruments fund this project?

3. Assume that the cash flows came in the middle of the year but the
terminal value came at the end of year 6. How would this affect the
NPV? Nothing else changes.

INVESTMENT ANALYSIS AND LOCKHEED TRI STAR

1. We will discuss in class. Study the Lockheed case before coming to

class but do not prepare a written analysis. We'll analyze the case in class.

MIDLAND COST OF CAPITAL

1. How are Mortensen’s estimates of Midland’s cost of capital used? How, if at

all, should these anticipated uses affect the calculations?

2. Calculate Midland’s corporate WACC. Be prepared to defend your specific

assumptions about the various inputs to the calculations. Is Midland’s
choice of cost of equity (Ke) appropriate? Is the choice of EMRP
appropriate? If not, what recommendations would you make and why?

3. Should Midland use a single corporate hurdle rate for evaluating

investment opportunities in all of its divisions? Why or why not?

4. Compute separate costs of capital for the E&P and Marketing & Refining
divisions. What causes them to differ from one another?

OTHER IMPORTANT INFORMATION

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Disability Statement. In accordance with Section 504 of the

Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990,
students with specific disabilities that qualify for academic accommodations
should contact Disabled Student Services (DSS) in the Center for Learning.
DSS in turn will send a Disability Verification Letter to the course instructor
indicating what accommodations have been approved.

Academic Integrity. The current edition of the SPU Undergraduate

Catalog describes the University’s commitment to academic integrity, which is
breached by academic dishonesty of various kinds. Among these is turning in
another’s work as your own and committing plagiarism, which is the copying
of portions of another’s words from a published or electronic source without
acknowledgement of that source. The penalty for a breach of academic
integrity is a failing grade for the work in question on the first offense and a
failing grade for the course as a whole with repeated offenses.

Emergency procedure: Note the emergency procedures posted in the

classroom and note the emergency exits. In case of an emergency (fire,
earthquake, hazardous material spillage, bomb threat, etc.), the class will
evacuate the building and gather in the Nickerson parking lot next to
McKenna Hall. If conditions make it impossible to meet there, meet at the
Ross parking lot at the corner of 3rd Avenue W. and W. Cremona Street just
north of First Free Methodist Church. Please try to stay together so that we
can check that everyone has made it safely out of the building. Set up a
“buddy” system in this class in case we have a campus emergency. Your
buddies will be the members of your case study team. A reminder that when
we do have a lockdown drill we are expected to lock the room doors, close the
blinds, turn off the lights, get down on the floor and remain quiet.

Inclement Weather: The University maintains an Emergency Closure

Hotline (206-281-2800). In the event of inclement weather or an emergency
that might close the university, please call the Hotline for the most up-to-date
closure information or check the SPU website. Both will be updated before
6:00 a.m. Information on evening classes, events, and athletic games will also
be updated.

PRESENTATION EVALUATION
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Student Name(s) or Team Number (in order of presentation):

_______________________________________________________________

Rating: E – excellent; G – good; A – average (needs improvement); F –

fair; P – poor

CONTENT:
How well does the presentation cover these content areas?

Economic outlook E G A F P
Industry study E G A F P
Company study E G A F P

PRESENTATION:
How effective is the presentation?

Has attention getter in the introduction E G A F P

Demonstrates genuine enthusiasm for the work E G A F P
Establishes rapport with audience E G A F P
Organization is clear, logical and structured E G A F P
Visual aids clarify and emphasize main points E G A F P
Varies voice with volume, pitch, tone E G A F P
Eye contact effective E G A F P
Presents as professional, courteous and authentic E G A F P
Transitions supporting and smooth E G A F P
Conclusion gives sense of closure E G A F P
Presentation stays within time limits. Yes No

Comments: Please use the back of this page if needed. Your

participation is appreciated.

Emergency Response Information

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Report an Emergency or Suspicious Activity

Call the Office of Safety & Security (OSS) at 206-281-2922 to report an
emergency or suspicious activity. SPU Security Officers are trained first
responders and will immediately be dispatched to your location. If needed, the
OSS Dispatcher will contact local fire/police with the exact address of the
location of the emergency.

Lockdown / Shelter in Place – General Guidance

The University will lock down in response to threats of violence such as a
bank robbery or armed intruder on campus. You can assume that all
remaining classes and events will be temporarily suspended until the incident
is over. Lockdown notifications are sent using the SPU-Alert System as text
messages (to people who have provided their cell phone numbers as
described below), emails, announcements by Building Emergency
Coordinators (BECs), announcements over the outdoor public address system,
and electronic reader board messages.

If you are in a building at the time of a lockdown:

 Stay inside unless the building you are in is affected. If it is affected, you
should evacuate.
 Move to a securable area (such as an office or classroom) and lock the
doors.
 Close the window coverings then move away from the windows and get
low on the floor.
 Remain in your secure area until further direction or the all clear is
given (this notification will be sent via the SPU-Alert System).

If you are unable to enter a building because of a lockdown:

 Leave the area and seek safe shelter off campus. Remaining in the area
of the threat may expose you to further danger.
 Return to campus after the all clear is given (this notification will be
sent via the SPU-Alert System)

Evacuation – General Guidance

Students should evacuate a building if the fire alarm sounds or if a faculty
member, a staff member, or the SPU-Alert System instructs building occupants
to evacuate. In the event of an evacuation, gather your personal belongings
quickly and proceed to the nearest exit. Most classrooms contain a wall plaque
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or poster on or next to the classroom door showing the evacuation route and
the assembly site for the building. Do not use the elevator.

Once you have evacuated the building, proceed to the nearest evacuation
location. The “Stop. Think. Act.” booklet attached to each classroom podium
contains a list of evacuation sites for each building. Check in with your
instructor or a BEC (they will be easily recognizable by their bright orange
vests). During emergencies, give the BEC your full cooperation whenever they
issue directions. They will be the first line of contact during an actual
emergency and cooperation with them should be immediate and complete.

The primary evacuation area for Otto Miller is the Alumni Lot. The
secondary area is the Ross Parking Lot.

SPU-Alert System
The SPU-Alert System provides free notification by email and text message
during an emergency. Text messaging has proven to be the quickest way to
receive an alert about a campus emergency. To receive a text message, update
your information through the Banner Information System on the web,
https://www.spu.edu/banweb/. Select the Personal Menu then choose the
Emergency Alert System. Contact the CIS Help Desk if you have questions
concerning entering your personal contact information into the Banner
Information System.

Additional Information
Additional information about emergency preparedness can be found on the
SPU web page at http://www.spu.edu/info/emergency/index.asp or by
calling the Office of Safety & Security at 206-281-2922.