Explain the typical philosophy of unionism embraced by U.S. labor unions.
What will be an ideal response?
U.S. labor unions have traditionally embraced a business unionism philosophy which sees collective bargaining as the key to achieving efficiency, equity and voice in the workplace. Collective bargaining allows unions to win gains in wages, benefits, grievance procedures, and protective work rules. The business unionism model does not question the legitimacy of capitalism and the employer's need to make a profit and instead seeks to secure labor's "fair share" of these profits.
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Indicate whether the statement is true or false
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Answer the following statement true (T) or false (F)
The CFO of Lenox Industries hired you as a consultant to help estimate its cost of capital. You have obtained the following data: (1) rd = yield on the firm's bonds = 7.00% and the risk premium over its own debt cost = 4.00%. (2) rRF = 5.00%, RPM = 6.00%, and b = 1.50. (3) D1 = $1.20, P0 = $35.00, and g = 8.00% (constant). You were asked to estimate the cost of equity based on the three most commonly used methods and then to indicate the difference between the highest and lowest of these estimates. What is that difference?
A. 3.00% B. 3.54% C. 2.61% D. 3.72% E. 2.67%