Barry Birdsong

Barry Birdsong
I recommend that Barry Birdsong should assume a Chapter S corporation structure for the McMRI business. The Chapter S Corporation structure should provide Mr. Birdsong with the means to accomplish his business and personal goals.
Alone
If Mr. Birdsong chooses to continue his business alone, the Chapter S Corporation structure would not require him to suffer extra tax burdens. Additionally, the Chapter S structure would limit Mr. Birdsong''s personal liability in the new business. Lastly, Mr. Birdsong would be able to sell the new company''s stock if he would need additional capital.
Investor or Partners
Mr. Birdsong realizes that additional capital would be required. For the consideration of the additional capital infusion, Mr. Birdsong is considering sharing profits. However, Mr. Birdsong does not wish to share in management. He prefers to maintain an ownership interest and control. The S Corporation structure will help to accomplish Mr. Birdsong''s wishes. After creating McMRI Inc., Mr. Birdsong will elect himself to be on the board of directors. Next, the board will elect Mr. Birdsong as the President of the corporation. As long as Mr. Birdsong holds 51 percent of the company stock, he will have the day-to-day control of the management of the business. The rest of the shareholders will receive their share of the profits without interfering in the operations of the business.
Yum Yum Yummie Candy Company
Introduction
By late Friday afternoon, as I was studying the latest sales reports, I realized that I lost the promotion to upper management at this juncture. I was left with two options: resign from the company or attempt to rectify the situation. I decided to endeavor the latter. Over the next 20 minutes, the following action plan was drafted.
The Plan
The plan focuses on improving controls of the company''s inventory management solution ("solution") and on mending relations with the company''s vendors. The plan recommends improving quality assurance procedures. Furthermore, the plan recommends that the manager of the current quality assurance department should be demoted. The new quality assurance manager should make sure that the solution is fully tested.
Concurrently, the company should contact all the company''s retailers and distributors. The company should apologize for the problem and offer a one-time 30 percent discount on their next order for all existing customers. Moreover, the company should amend its distribution contract with the following: "Any future shipment errors caused by Yum Yum Yummie Candy Company will result in an automatic 20 percent discount off the entire order."
Conclusion
After randomly contacting 50 of the company''s vendors and retailers, I learned that 96 percent of the customers surveyed would continue to do business with the company if the above amends were made. Additionally, ten percent of the above clients stated that they would refer new business to the company due to company''s integrity. Finally, I recommend that I should be given a 20 percent pay cut until the company sales reach the original level.

Help out other users by submitting your definitions to Online Community Dictionary.