Seasongood & MayerCincinnati, OhioSeasongood & Mayer, established in 1887, is an investment securities firm that engages in the following areas of municipal finance:Underwriting new issues of municipal bondsTrading- for example, acting as a market maker for the buying and selling of previously issued bonds.Investment banking- that is, the process of obtaining money from the capital markets at the lowest possible costThe major applications of management science at Seasongood & Mayer are in the investment banking area.Document Preview:Seasongood & MayerCincinnati, OhioSeasongood & Mayer, established in 1887, is an investment securities firm that engages in the following areas of municipal finance:Underwriting new issues of municipal bondsTrading- for example, acting as a market maker for the buying and selling of previously issued bonds.Investment banking- that is, the process of obtaining money from the capital markets at the lowest possible costThe major applications of management science at Seasongood & Mayer are in the investment banking area. One particular application involved the use of PERT/CPM in the introduction of a $31 million hospital revenue bond issue.Scheduling the Introduction of a Bond IssueIn my major building project there are certain common steps:Defining the projectDetermining the cost of the projectFinancing the projectThe investment bankers role in building projects is to develop the method of financing that will result in the owners receiving the necessary funds in a timely manner. In a hospital building project, such as the one we will be discussing the typical method of financing is tax-free hospital revenue bonds. The construction cost for the building project is an important factor in determining the best approach to financing. Normally, the construction cost is based on a bid submitted by a contractor or a construction manager. However, this cost is usually guaranteed only for a specified period of time, such as 60-90 days.The major function of the financing in such a way that the proceeds of the bond issue can be made available within the time limit of the guaranteed-price construction bid. Since most hospitals must have the proceeds of their permanent long-term financing in hand prior to committing to major construction contracts, the investment bankers role is a significant one. To arrange for the financing, the investment banker must coordinate the activities of hospital attorneys, the bond counsel, and so on. The cooperation of all parties and the Attachments: Seasongood.docx
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