Nobel Planet

During his speech, Albornoz stressed the importance of the meeting for Venezuela, Latin America and the Caribbean. This time, when the sword of the liberator Simon Bolivar crosses spaces of Latin America in search of union of peoples, he expressed the parliamentary is key for us. Regardless of the political effects that this Summit can generate, this the significance of facing the serious problem facing planet Earth product of the effects that are being generated by Global warming, which already has originad it serious problems in climate, drought, rain, seriously affecting their agriculture, atmosphere, giving way to diseases, in addition to serious problems in relation to food in many countries. Unanimously on the National Assembly jointly with the Latin American Parliament chapter Venezuela approved ask the UN to declare the environmental emergency on planet Earth, as well as upgrade Latin American legislation on environmental matters, urging indigenous, the payment of ecological debt of industrialized countries to poor Nations and respect for the habitat which will be included in the final Declaration of the first parliamentary International Summit on Global warming and climate change. He stressed that climate change and global warming are irreversible damage, but we as parliamentarians, to minimize the risk by adapting our legislation, in order to contribute to slow down that path of destruction of the planet, from Venezuela we will continue advocating for life, from the perspective of the socialism of the 21st century, because we understand precisely according to the papers – which capitalist models, imperialism and consumerism, are determining factors for the risk of the planet is in the degree in which it is the first agreement points out that: 1. congratulate Jorge Fernando Carrasco by having been awarded the 2007 Nobel prize the peace, thanks to their outstanding activities academic and scientific.

2 Do the Nobel Peace Prize, Jorge Fernando Carrasco Serda, a public recognition for his performance and dedication to the scientific research, Latin American environmental, also express our support for all the initiatives undertaken by those researchers who dedicated his life and work to the pursuit of a sustainable development. The second agreement expresses: 1. congratulate Gino Casasa by having been awarded the 2007 Nobel prize the peace, thanks to their outstanding academic and scientific activities..

Acquisition Flows

The model of the deducted flow of box is come back toward verification of economic wealth and maximizao of the value of the company. This express model the value of company when deducting the present value the estimate of future flows of box. The future flows of box then are deducted to one attractiveness tax that reflects the cost of chance of the capital suppliers (shareholding and deserving). For the determination of the value of market of an organization they exist component basic as the box flows, the minimum tax of attractiveness (discounting tax), the horizon of time of the projections and the risk. The use of these components will become through a practical case on the basis of the Appraisal Economic-Financier of the company Paranapanema s.a., made for BB Banco de Investimento s.a., contracted for Vale s.a. (ofertante) for ends of Offers Voluntary Public of Acquisition of Aes (OPA), published in 30/07/2010, having as A PARANAPANEMA s.a. 3,1 BREVE HISTRICO A Paranapanema s.a., Brazilian company dates reference 31 of March of 2010.

3, with headquarters and domicile in the city of Days D? Avila, state of the Bahia, in the way of copper n 300 is leader in the fine copper production in Brazil. The company is listed and registered in level 1 of corporative governana of the BM& FBovespa. Its assets consist of smelter/copper refinery and three plants for the production of products downstream of copper. It also possesss 99.09% of participation in the capital of the Cibrafrtil (fertilizing fosfatados). Currently it is an operational holding that acts in the division has covered, with focus in the marks Caraba (Branch office Bahia) and Eluma (Branch office So Paulo and Espirito Santo) and in the fertilizer division in the Bahia. Graph 1 – Shareholding structure the organizacional of Paranapanema s.a. Source: Paranapanema s.a. 3,2 FLOWS OF BOX the box flows, in operational terms, are the base for evaluation of a company, where if they exclude the financial expenditures (flows of remuneration of the capital of third).