By Steven Pressfield

WARS switch, WARRIORS DON'T we're all warriors. every one people struggles on a daily basis to outline and shield our experience of goal and integrity, to justify our lifestyles on the earth and to appreciate, if in basic terms inside our personal hearts, who we're and what we think in. can we struggle by way of a code? if that is so, what's it? what's the Warrior Ethos? the place did it come from? What shape does it take this day? How can we (and how do we) use it and be actual to it in our inner and exterior lives? The Warrior Ethos is meant not just for women and men in uniform, yet artists, marketers and different warriors in different walks of lifestyles. The e-book examines the evolution of the warrior code of honor and "mental toughness." It is going again to the traditional Spartans and Athenians, to Caesar's Romans, Alexander's Macedonians and the Persians of Cyrus the good (not except for the backyard of Eden and the primitive searching band). assets comprise Herodotus, Thucydides, Plutarch, Xenophon, Vegetius, Arrian and Curtius--and on all the way down to Gen. George Patton, box Marshal Erwin Rommel, and Israeli Minister of safeguard, Moshe Dayan.

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Miller, “The Cost of Capital, Corporation Finance and the Theory of Investment,” American Economic Review 48, no. 3 (1958): 261–297; F. Modigliani and M. Miller, “Corporate Income Taxes and the Cost of Capital: A Correction,” American Economic Review 53, no. 3 (1963): 433–443; Ross, Westerfield, and Jaffe, Corporate Finance, 494–525, addresses this subject in detail. ” Page 499: “Modigliani and Miller (MM or M&M) have a convincing argument that a firm cannot change the total value of its outstanding securities before changing the proportions of its capital structure.

Page 500: “MM Proposition 1 (no taxes): The value of the levered firm is the same as the value of the unlevered firm. This is one of the most important results in all of corporate finance. ” Page 511: “Value is maximized for the capital structure paying the least in taxes. In other words, the manager should choose the capital structure that the IRS hates the most. S. tax law, the proportions of the pie allocated to taxes is less for the levered firm than it is for the unlevered firm. ” Chapter 17, Page 526: “Capital Structure Limits to the Use of Debt”: “Should managers really set their firm’s debt to value ratios near 100 percent?

Multiple goals of a corporation clearly exist, such as survive; avoid financial distress and bankruptcy; beat the competition; maximize sales of market share; minimize costs; maximize profits; maintain steady earnings growth. The text also explains that the goals fall into two primary classes: profitability and controlling risk/avoiding bankruptcy. Even nonprofit organizations have a goal of not losing money. It is outside of the scope of this book to go into detail on nonprofit objectives and their use of debt, but we can safely say that many nonprofits have CFOs and many use debt strategies similar to the ideas expressed in this book.

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The Warrior Ethos by Steven Pressfield


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