Walt - Mart Supply Chain - Free Essay Example

Sample details Pages: 4 Words: 1311 Downloads: 2 Date added: 2017/09/19 Category Management Essay Type Argumentative essay Did you like this example? SUPPLY CHAIN MANAGEMENT AT WAL-MART Due Date December 1, 2009 Orlando, FL 32816 INDEX 2. Introduction 3. Supply Chain at Walt-Mart Inc 4. Importance of the supply chain the strategic 5. Identification of the supply chain strategies a. Negotiation with many supplier b. Long Term partnering c. Vertical Integration d. Keiretsu Network e. Suppliers on an as need basis 6. Issues in Wal-Mart supply chain 7. Opportunities in Wal-Mart supply chain 8. Data Analysis 9. Conclusion 10. Recommendations 2. INTRODUCTION Wal-Mart Stores, Inc. (Wal-Mart) was the largest retailer. Wal-Mart was able to achieve a leadership status in the retail industry because of its efficient supply management practices. This supply chain, a key enabler of its growth from its beginnings in rural Arkansas, was long considered by many to be a major source of competitive advantage for the company. Wal-Mart developed a supply chain base on pricing, where they started sourcing products globally. Wal-Mart was thought to have around 90,000 suppliers. Those suppliers have several dozen employees working full-time to support the Wal-Mart business. Wal-Mart always emphases the need to reduce its purchase cost and offers the best price to its costumers. Distribution is another characteristic of the Wal-Mart supply chain developed. The company procured god directly from manufactures, avoiding intermediaries. This negotiation let then to offer lower prices in their product. In addition, Wal-Mart invested in a central database, store-level point-of-sale systems, and a satellite network to support this inventory management effort, supplier analysts worked closely with Wal-Mart’s supply chain personnel to co-ordinate the flow of products from suppliers’ factories and resolved any supply chain issues, receiving and transmitting point-of-sale data, also provided senior management with the ability to broadcast video messages to the stores Centralization was apply by Wal-Mart. They be lieved that it had numerous benefits, such as, lower costs and improved communications between different divisions. Another key to Wal-Mart’s ability to enjoy low operating costs was the fact that it was non-union. Without difficult to handle labor agreements, management could take advantage of technology to drive labor costs down and make operational changes quickly and efficiently. In 2006 Wal-Mart made two supply chain improvement initiatives included â€Å"Remix† , reduce the percentage of out-of-stock merchandise at stores by redesigning its network of distribution centers, and RFID (radio frequency identification tags), increase stock visibility as stock moved in trucks, through the distribution centers and on to the stores. Wal-Mart would be able to track promotion effectiveness within the stores while cutting out-of-stock sales losses and overstock expenses. In 2006, Wal-Mart continued to seek improvements to its supply chain. Although the company publicl y declined to outline its targets for inventory reduction 3. SUPPLY CHAIN AT WAL-MART Sam Walton owned a successful chain of stores under the Ben Franklin Stores banner, a franchisor of variety stores in the United States. He was able to selectively purchase merchandise in bulk from new suppliers and then transport these goods to his stores directly. When Walton realized that a new trend, discount retailing — based on driving high volumes of product through low-cost retail outlets — was sweeping the nation, he decided to open up large, warehouse-style stores in order to compete. To stock his new warehouse-style stores, initially named â€Å"Wal-Mart Discount City,† Walton needed to step up his merchandise procurement efforts. As none of the suppliers were willing to send their trucks to his stores, which were located in rural Arkansas, self-distribution was necessary. Wal-Mart is committed to improving operations, lowering costs and improving customer service . But the key to retailer Wal-Marts success is its ability to drive costs out of its supply chain and manage it efficiently. Wal-Marts company philosophy is to be at the leading edge of logistics, distribution, transportation, and technology. Wal-Mart was the world’s largest retailer with more than 6,500 stores worldwide, including stores in all 50 states as well as international stores. Wal-Mart’s strategy was to provide a broad variety of quality merchandise and services at everyday low prices and was best known for its discount stores, which offered variety merchandise, such as, food, electronics, so on and so forth. Also, the everyday low prices (EDLP) environment, demand was smoothed out to reduce the â€Å"bullwhip effect. † Because of its EDLP policy, Wal-Mart did not need to advertise as frequently as did its competitors and was able to channel the savings back into price reductions. Wal-Mart in the 1980s, it had built up the most efficient logisti cs network of any retailer. Logistics division and its information systems division included the largest private truck fleet employee base of any firm. Shipments were generally cross-docked, or directly transferred, from inbound to outbound trailers without extra storage. Wal-Mart started sourcing products globally, opening the first of these offices in China in the mid-1980s. Wal-Mart’s international purchasing offices worked directly with local factories to source Wal-Mart’s private label merchandise. Wal-Mart wielded enormous power over its suppliers. Stores were located in low-rent, suburban areas, close to major highways. The average distance from distribution centre to stores was approximately 130 miles. Implement and improve upon standard delivery procedures, coordinating and deploying the entire fleet as necessary. As Wal-Mart distribution centers had close to real-time information on each store’s in-stock levels, the merchandise could be pushed to stores automatically. In addition, store-level information systems allowed manufacturers to be notified as soon as an item was purchased. Each Wal-Mart store aimed to be the â€Å"store of the community,† tailoring its product mix to appeal to the distinct tastes of that community. Thus, two Wal-Mart Stores a short distance apart could potentially stock different merchandise In the mid-1980s, Wal-Mart invested in a central database, store-level point-of-sale systems, and a satellite network. Combined with one of the retail industry’s first chain-wide implementation of UPC bar codes, store-level information could now be collected instantaneously and analyzed. By combining sales data with external information such as weather forecasts, Wal-Mart was able to provide additional support to buyers, improving the accuracy of its purchasing forecasts. In the early 1990s, Wal-Mart developed Retail Link Wal-Mart gave its suppliers access to real-time sales data on the product s they supplied, down to individual stock-keeping items at the store level. In 1990, Wal-Mart became one of the early adopters of collaborative planning, forecasting and replenishment (CPRF), an integrated approach to planning and forecasting by sharing critical supply chain information, such data on promotions. In addition to managing short-term inventory and discussing product trends, Wal-Mart worked with suppliers on medium- to long-term supply chain strategy including factory location, co-operation with downstream raw materials suppliers and production volume forecasting. Wal-Mart believed that centralization had numerous benefits, including lower costs and improved communications between different divisions. Another key to Wal-Mart’s ability to enjoy low operating costs was the fact that it was non-union. Without cumbersome labor agreements, management could take advantage of technology to drive labor costs down and make operational changes quickly and efficiently. Wal-Mart operated approximately 3,900 stores in the United States and 2,600 stores in 13 other countries in 2006. At store level, the company stocked more than 100,000 SKUs. Two of Wal-Mart’s key supply chain improvement initiatives included â€Å"Remix† and RFID (radio frequency identification tags). Remix, which was started in the fall of 2005 and targeted for completion in 2007, aimed to reduce the percentage of out-of-stock merchandise at stores by redesigning its network of distribution centers. On the other hand, the objective of RFID is to increase in-stock rates and reduce tracking costs. RFID tags would allow Wal-Mart to increase stock visibility as stock moved in trucks, through the distribution centers and on to the stores. Wal-Mart would be able to track promotion effectiveness within the stores while cutting out-of-stock sales losses and overstock expenses. In the past few years, Wal-Mart’s internal goal had called for cutting its inventory g rowth rate to half of its sales growth rate but they have not met that objective. Competitors such as Target Stores and Costco seemed to be catching up, growing comparable store sales faster than Wal-Mart Don’t waste time! Our writers will create an original "Walt Mart Supply Chain" essay for you Create order

Greek And Roman Comparisons And Contributions - 1698 Words

Greek and Roman Comparisons and Contributions Ancient Greece and Ancient Rome are responsible for many facets in today’s world. In fact, when reviewing history, the Greeks and Romans are sometimes confused with one another. There are many shared traditions, but yet there are many differences between the two. The countries are both Mediterranean, however they had different social class structures, different mythology, and placed different values on life. Ancient Greece was vibrant in the fifth century B.C., but Rome was not in it’s glory days until hundreds of years later. Much of what is utilized in everyday Roman life was replicated from the Greek’s culture. The Roman’s copied the Greeks, because the Romans were fascinated with the Greek culture and the success the Greeks achieved. It is important to understand the similarities and differences in the Greek and Roman culture, to better understand their contributions to today’s society. The Greeks and Romans made important contributions to reli gion, philosophy, and the study of truth. The Greek and Roman religion was polytheistic, worshipping many gods and goddesses. They believed the gods influenced all natural happening. The Greeks developed stories that explained how the gods behaved, including their strengths and weaknesses. The Greeks developed a set of god and goddesses for all twelve major deities. These gods lived on Mount Olympus, lead by Zeus and his wife, Hera. All the citizens were expected to participate toShow MoreRelatedThe Causes Of The Protestant Reformation1270 Words   |  6 PagesWhy? Roman Catholicism and Christianity as a whole expanded throughout the globe over the 16th century. Roman Catholic Churches have a hierarchical organization with the Pope of Rome at the top to facilitate the matters of the Churches around the globe. Their doctrines and teachings came from their interpretations of the Bible. Roman Catholicism was widely accepted in most cases, but some were still unsure about the said religion. Skeptics were wary of the Roman Catholic Church becauseRead MorePlutarchs Life and Legendary Writings Essay759 Words   |  4 PagesPlutarch was a well-known historian, biographer, and essayist. Also, Plutarch was a Greek scholar, and today is considered to be a Middle Protanist. Clyde Curry Smith, a professor at the University of Wisconsin, tells readers â€Å"Plutarch was born sometime around 46 A.D. in Chaeronea, Boeotia†(Smith). Plutarch was born â€Å"around the Roman imperial administration of Claudius I†(Smith). It is also believed that Plu tarch died around the age of 74, â€Å"sometime after 120 c.e.†(Smith). Along with being a historianRead MoreClassical Civilizations of Ancient Greece, Rome, and China Essay897 Words   |  4 Pagesplumbing systems. Greece was the first to create plumbing and now it is almost unheard of for a house anywhere on earth to not have a plumbing system. This innovation falls under the economic category. The most important social feature from ancient Greeks would be philosophy. After the Peloponnesian Wars, many people began questioning themselves and their beliefs. During this time, many philosophers were living in Greece. One of the most important was Socrates. He encouraged people to examine theirRead MoreGoddess, Whores, Wives and Slaves: Classical Women of Antiquity, written by Sarah B. Pomery1327 Words   |  5 Pagesslaves: women in classical antiquity. New York: Schocken Books. Goddess, Whores, Wives and Slaves: Classical Women of Antiquity, written by Sarah B. Pomery, focuses on the main categories of women in the literature and society of ancient Greece and Roman over a time period of fifteen hundred years. Pomery focuses on these roles and how they are significant in the development and structure of these great ancient civilizations. Her goal in writing this book was to expand upon her first book, entitledRead MoreComparing The Great Ancient Figures Of Ancient China And Rome1171 Words   |  5 Pages PowerPoint Script Introduction Good morning/ afternoon fellow Year Ten students, today I am presenting a presentation on why Ancient History is a great riveting subject to do in your senior years of education. This will be done through the comparison of two great ancient figures of ancient China and Rome. You will learn how the history of the great’s impact the modern society we see today, as Theodore Roosevelt once said ‘the more you know about the past, the better prepared you are for the future’Read MoreDid the Ancient Greek Gods Exist?1234 Words   |  5 PagesDid the Ancient Greek Gods exist? The Ancient Greeks regarded their religion and mythology with much respect and loyalty. Although the Ancient Greek Gods are now seen as an explanation created by man, for natural forces and the world around us, there has been much evidence both for and against the debate that these Gods were real. The Greeks believed that the Earth was created with the birth of Gaia, or Mother Earth, from the dark void known as Chaos. It was believed that Gods were all-powerfulRead MoreThe Road That Led African Americans986 Words   |  4 PagesNorth, Blacks still experienced some indifference, though not on the same scale as they had in the South. In Lift Every Voice and Sing, Johnson uses rhyming which of course is standard of most poetry. He also uses simile in line five with his comparison of how the sound of joy should be loud like that of the rolling sea. Lift Every Voice and Sing is both carefully and craftily composed, and uses vivid imagery as well as religious theme, which is also preval ent in a majority of Johnson’s works,Read MoreAncient Greece, Rome, And Persian Essay2093 Words   |  9 PagesCulture Comparison The civilizations that I decided to elaborate on are Greece, Rome, and Persian. The purpose of this essay is to compare and contrast the similarities and differences of these civilizations. These civilizations will be analyzed in the area of their cultural, social, political, economic, diplomatic and military collating. Greece, Rome, and Persian are very distinctive and fascinating civilization. From the information I have learned through the semester will help me sharply juxtaposeRead MoreAncient Greeks, Romans And Modern Western Christianity2444 Words   |  10 PagesThe three cultures; Ancient Greeks, Romans and Modern Western Christianity share a gradual progression through time that has affected these cultures. My research has primarily focussed on these cultures attitudes to death. Starting with the greeks I will show from the fall of the Greeks, to the Romans and from the Romans to Western Christianity how these attitudes were passed on or eradicated to make room for somethin g new. The Greeks The greeks knowledge of the afterlife was limited to the legendsRead MoreThe City Of Sparta And Athens1750 Words   |  7 Pageshistory, equal to their male counterparts. The city of Sparta can easily be seen as giving women the honor and empowerment they deserve as equal contributors and members of society. Throughout the archaic and classical periods, Sparta was an important Greek city state located in the â€Å"Eurotas valley of Laconia in the southeast Peloponnese† (Cartwright). The Eurotas valley was fertile, allowing those who lived there to strive off an abundance of food. As city states began to develop in 750 BCE the high

Why Company Go Public Free Essays

REASON FOR PT. BANK CENTRAL ASIA, Tbk TO GO PUBLIC INITIAL PUBLIC OFFERING William1140004383 BINUS BUSINESS SCHOOL PROGRAM STUDI MAGISTER MANAJEMEN BUSINESS MANAGEMENT BINUS UNIVERSITY JAKARTA 2010 List of Content List of Content2 Definition3 Reasons for listing3 Advantages of an IPO5 Disadvantages of an IPO5 Procedure6 Bank Central Asia History7 Bibliography9 Definition An initial public offering (IPO) or stock market launch is, as it sounds, the first sale of a company’s shares to the public and the listing of the shares on a stock exchange. In the UK, IPOs are often referred to as flotation. We will write a custom essay sample on Why Company Go Public or any similar topic only for you Order Now IPO was originally an American term but is now used across all world markets. The shares offered may be existing ones held privately, or the company may issue new shares to offer to the public. Companies choose to offer shares to the public to raise new capital for the company; to widen the shareholder base of the company; to give the shareholders a liquid market in which to trade their share; achieve the publicity that a public listing brings. Companies might choose to list on the market by a private placing of shares to institutions rather than a public offering. There have been several online flotation sometimes referred to as EPOs (Electronics Public Offerings). Many companies that undertake an IPO also request the assistance of an investment banking firm acting in the capacity of an underwriter to help them correctly assess the value of their shares, that is, the share price. Whoever is raising the funds, the process of flotation is arduous, involves significant time commitments from the company’s management and advisor (investment bankers, stockbrokers and solicitors amongst others), and is not cheap. This effort is expended in order to raise the cash required at a price that keeps both the vendor and the purchaser of the shares happy. Reasons for listing When a company lists its securities on a public exchange, the money paid by investors for the newly issued shares goes directly to the company (in contrast to a later trade of shares on the exchange, where the money passes between investors). An IPO, therefore, allows a company to tap a wide pool of investors to provide itself with capital for future growth, repayment of debt or working capital. A company selling common shares is never required to repay the capital to investors. Once a company is listed, it is able to issue additional common shares via a secondary offering, thereby again providing itself with capital for expansion without incurring any debt. This ability to quickly raise large amounts of capital from the market is a key reason many companies seek to go public. The three main interested parties in an IPO (the vendor, the company, and the investor) have complementary objectives. The Company will want to: * Maximize proceeds * Build broad and stable ownership base Raise its profile * Facilitate future fund raising and possibly future acquisitions * Ensure that there is a good liquidity in secondary market trading * Be seen as launching a successful IPO. The Vendor, or selling shareholder, wants to: * Maximize proceeds * Maximize value of retained interest/share price performance * Be seen as part of a successful transaction Investors will want to: * Maximize sh are price return (short and long-term) * Broaden and diversify portfolio * Accumulate a position not easily found in the secondary market Companies undertake an IPO for one of two reasons: To raise capital for the company’s use (a ‘primary’ offering). * To raise funds for the existing shareholders (including venture capitalist and governments, as in privatizations, etc. ) (a ‘secondary’ offering). The terms primary offering or primary issue and secondary offering or secondary issue are often used to classify the recipient of the proceeds. Proceeds from a primary offering go to the company – it creates and issues new shares for sale to the public. Secondary offering sells existing shares to the public. Many IPOs combine primary and secondary offerings. In general, capital raising IPOs are undertaken in order to: * Raise cash in order to expand the business of the company, or * Reduce the debt levels (leverage or gearing) of the company. The decision to go public for many companies is a strategic decision, not just a fund raising decision. The IPO process can be a catalyst for developing the company’s strategy more fully. It can also be seen as the final step in the financial development of a company. Reasons for secondary sales include: * Sale by entrepreneur * Succession * Tax and other personal reasons * ‘Cashing in’ * Sale by professional investors Venture capitalists and private investors seeking an ‘exit’ * Reverse LBOs * Funds required by parent company/major shareholder * Demutualization and introductions * Privatizations of state-owned enterprises. * Raising funds for the treasury. * Imposing private market disciplines on management and workers – thereby increasing efficiency and serv ice to customers. * Fostering a shareholders democracy. * Winning votes (although this is not explicitly stated). Advantages of an IPO The advantages of going public include: * Liquidity and increased share price * Management and employee motivation Enhanced image/prestige * Access to alternative source of capital * Ancillary benefits Advantages of investing internationally: * More securities and industries to choose from – even large markets don’t have shares in every sector. * Greater returns – many emerging markets provide higher rates of return than do more mature markets and some markets may not be as efficient as others, allowing professional investors an advantage. * Reduction of risk – not all national stock markets advance (or decline) at the same time. Therefore international diversification may reduce risk in an investor’s portfolio. Liquidity – some institutions demand significant liquidity in their portfolios, which can only be met by investing in the largest global companies. * Single European currency – many investors now look at the Eurozone as a single country for portfolio purposes. An investor in France, for example, no longer considers France to be his home market; the entire Eurozone is now treated as the domestic market. Disadvantages of an IPO There are several disadvantages to completing an initial public offering, namely: * Significant legal, accounting and marketing costs Ongoing requirement to disclose financial and business information * Meaningful time, effort and attention required of senior management * Risk that required funding will not be raised * Public dissemination of information which may be useful to competitors, suppliers and customers Disadvantages if selling to and maintaining an international investor base: * Cost and complexity * Increased disclosure requirements * Flow back Procedure The new issue process has five stages: * Corporate issues Some of general issues that company need to take care: The corporate structure and domicile will need to be determined. * Determining the timetable is also important. * Determining membership of the board of directors. * Employee participation. * Shareholder agreements and lockups. * Offering structure The main listing choices of offering structure that face a company are: * Which local exchange should it choose? * Should the company bypass the local market entirely? * Should the issuer consider multiple listings: in its home market and on an international exchange? * Regulation and documentation Marketing, pricing, and allocation In general marketing process consists of: * Pre-marketing * Developing the investment case * Preparing the market * Preparing the management * Initial research published (where permitted) * Marketing * Setting the price range * Filling the preliminary prospectus * Sales briefing * Roadshow and ‘one-on-one’ * Sales/research follow-up * Book building * Pricing and allocat ion * Setting the price There are three approaches to the pricing of an offering: * Book building * Fixed price * Auction/render offer * Allocation * Stabilization * Aftermarket The first question that needs to be answered when a company wants to do IPO is â€Å"is the company ready to go public? † Whether a company ready or not to go public is not determined by age, but determined on the ability to present a compelling investment case, which is made up of many components, chief among them being: * Capability of management * Financial track record * Industry prospects and growth potential * Position within industry/competition * Valuation/comparative value. The offering process for an IPO will be necessarily more complex than that of a secondary offering. Many of the strategic issues that need to be addressed only apply to companies issuing shares to the public for the first time. * Preparing the documentation is easier IPOs generally involve one or more investment banks known as â€Å"underwriters†. The company offering its shares, called the â€Å"issuer†, enters a contract with a lead underwriter to sell its shares to the public. The underwriter then approaches investors with offers to sell these shares. The sale (allocation and pricing) of shares in an IPO may take several forms. Common methods include: * Best efforts contract Firm commitment contract * All-or-none contract * Bought deal * Dutch auction Bank Central Asia History PT. Bank Central Asia was first found on 21 February 1957 as Bank Central Asia NV. A lot of things have happened since then – the most significant of all being perhaps the Asian monetary crisis in 1997. Here are the histories of BCA from 1997 until BCA do the IPO in May 2000: * 14-15 November 1997, BCA’s customer makes a rush of BCA because Soedono Salim alias Liem Sioe Liong, its majority shareholder, rumored dead. The new rush subsides after Liem appear in public. 18 May 1998 until beginning of June 1998 BCA’s customer back to panic after the riots of May, so do the rush. As a result, BCA limiting customer withdrawals, via cashier Rp. 5 million, Rp. 500 thousand v ia ATM Silver, and ATM Gold is Rp. 1 million. * 28 May 1998, BCA officially became â€Å"patient† of Badan Penyehatan Perbankan Nasional (BPPN). Bank of Indonesia inject funds up to 200 percent of BCA’s capital. Badan Penyehatan Perbankan Nasional (BPPN) took over the authority of directors and commissioners of BCA and form a team led by Director of Bank BRI, DE Setiyoso. 25 August 1998, Government announced that the deadline of completion of Bantuan Liquiditas Bank Indonesia (BLBI) by the old owner is 21 September 1999. * 22 September 1998, Head of BPPN, Glenn MS Yusuf, states that Salim Group accept the obligation to pay Rp. 35 trilliun to his side. With this agreement, the shares of the Salim Group transferred to BPPN with its cash and property. The government has 92. 8 percent shares of BCA and the rest is owned by Salim Group and several other parties. * 29 September 1998, Head of BPPN, Glenn MS Yusuf, said the government will inject capital considered sufficient to meet the category of healthy banks. This funding will be converted into shares of government. * 23 April 1999, BPPN said government would sell its share in BCA to the public and after that the shares will be offered to the strategic investors. * 4 February 2000, BCA register its plan for sell the shares to Badan Pengawas Pasar Modal. BCA plans to sell 42 percent of its share. * 22 February 2000, BPPN suddenly delaying the implementation of BCA share offering to the fiscal year 2000 (April – December 2000) with reason that the BCA’s IPO preparation need more time. 3 March 2000, BPPN declared that BPPN unsure to get Rp. 3 trillion from these stock offering. * 10 April 2000, President Director of BCA, DE Setijoso, declared the maximum number of shares of BCA’s share that offered by Badan Penyehatan Perbankan Nasional (BPPN) reached 883. 2 million shares. While the range of BCA’s share on IPO ranges from Rp. 1. 350 – Rp. 1. 750 per sheet. It means, the maximum acquisition target of BPPN r eached Rp. 1. 5456 trillion about half of the target. * 27 April 2000, BPPN officially returns BCA from BPPN to BI. With this return to BI BCA, then BCA became the first bank that came back from recovery state of BPPN. From the history of BCA from 14 November 1997 to 27 April 2000, we can conclude that reason for BCA to go public is because of the crisis that happened in BCA that happen 2 times that caused by: 1. Soedono Salim alias Liem Sioe Liong, its majority shareholder, rumored dead. 2. The riots in May 1998. So that BCA need to go public to get fund injection to recover the financial condition of BCA. Bibliography Geddes, Ross. IPOs and equity offerings. Burlington : Butterworth-Heinemann, 2003. financeglossary† Great Investor Network. 7 January 2011 http://www. finance-glossary. com â€Å"::BCA::† PT. Bank Central Asia. 7 January 2011 http://www. klikbca. com â€Å"Tempointeractive. com – Perjalanan BCA sejak 1997† Tempo Interaktif 26 Februari 2002. 7 January 2011 http://www. tempo. co. id/hg/ekbis/2002/02/26/brk,20020226-17,id. html â€Å"Initial Public Offering † Wikipedia. 7 January 2011 http://en. wikipedia. org/wiki/Initial_public_offering â€Å"Bank Central Asia† Wikipedia. 7 January 2011 http://en. wikipedia. org/wiki/Bank_Central_Asia How to cite Why Company Go Public, Papers

Killer Instinct Essay Example For Students

Killer Instinct Essay by Jim Adams Over 800 people attended the funeral, according to the localnewspapers estimate.. The cloudless day, lit by an early morning sun that cast soft shadowsamong the mourners, was disturbed only by the gentle murmur of thepreachers voice and the distant hum of traffic racing past on Hwy 401. Off-duty Durham Regional Police officers received an unexpected bonus thatmorning, when they were called in to handle parking problems around thecemetery and direct the seemingly endless flow of floral tributes. Black Billy hed called himself. Hed appeared in Pickering oneunremarkable day, just as suddenly as hed departed this life. No fanfareof trumpets, no grandiose announcements, no pre-fight publicity. He simplyshowed up at Mulligans Bar one Sunday afternoon when the regulars werediscussing the merits of the Tyson/Doakes fight, and settled in the farcorner next to the miniscule stage, nursing a half-pint of beer. Mulligansbeing the type of place it is, he wasnt alone too long. Useta call me Black Billy, he growled, lumbering to his feet. Hishead ducked and dodged, body swayed, as he danced on his toes, shootinglefts and rights at an imaginary opponent. His scarred face looked troubledfor a moment. Coulda been the Champ. Didn get a chance. Said I don gotthe killer instinct. I know I got it. Jus need a chance. His audiencenodded appreciatively and exchanged understanding glances. Billy shuffledto a stop and shook his big head as a huge grin split his battered face. No use cryin over spilt milk. That was a long time ago. Yeah man, a longtime ago. He extended a large paw and shook each persons hand solemnly. Jus call me Black Billy, he said, the infectious, innocentgrinencompassing the entire group, like a warming beam of sunlight after arain-storm. It was hard not to like him. Before too long, someone who knew someone who had a friend, hadarranged a job for Billy, in the Marina at the foot of Liverpool Rd. Asmall housetrailer It was just rusting away, sitting up at the cottage,according to the owner was procured and installed in a corner, near theparking lot. Billy spent a few days cleaning it up and airing it out, thenhe moved his meagre belongings from his temporary home in the small motelon Hwy #2. Pillows, blankets, drapes, cutlery and all of the things neededto make a house a home were donated with quiet mutters of, Here, Billy. Maybe you can use this. Wife was gonna throw it out anyway, so yourewelcome to it.He became a fixture in Pickering. If hed lived in some quaint countryvillage, hed have been known as a character. When he wasnt scrapinghulls, or painting the underside of yachts in the marina, he could be seen,trotting around in a jogging suit, surprisingly light on his feet, as mostbig men are, his sneakers gently slap-slap-slapping the sidewalk in asteady, unbroken rythym. Occasionally, hed drop into Mulligans to nurse ahalf- pint of beer, and despite repeated offers, was never seen to drinkmore than one. No, man. Gotta stay in shape, hed grin. Too much o thisstuff slows the reflexes. Thanks anyway. He was a quiet man, keepinghimself very much to himself, unless invited to join a group, which heinvariably was. All attempts to extract information about his past life were met bythe same big grin, and the same stock answer. Long time ago, man. Useta bea fighter, long time ago.. In a moment of weakness, he confided tosomeone that he hailed from Nova Scotia, and that he had no livingrelatives. Initially, the more cautious parents in the neighbourhood instructedtheir offspring not to talk to Billy, but as time progressed he became afamiliar figure. And hed happily interrupt one of his endless joggingtrips to help a flustered young mother trying to cope with two kids andarmfuls of groceries, or lend a hand with a pile of lumber destined tobecome a garden shed. He became accepted by everyone. He had a special affinity with little kids, though. They hung aroundthe marina, peering through the chainlink fence, watching Billy scrapehulls, his huge, muscled body stripped to the waist in the summer sunshine,the sweat beading, glistening and forming rivulets to soak his trackpants. You a boxer, Billy?, some third-grader would squeak, initiatingthe ritual that had been performed hundreds of times before. How High-Stakes Tests Are Hurting Our Children?s F EssayHes stupid, he added, pointing in Mannys direction. Billy, Ive toldhim, Manny groaned.I dont get a lot of call for that stuff, so I onlycarry small quantities. Hes got all I have, but he wont listen. He.I.He hit me with the gun, Mannys voice trembled as he gesturedwith the handkerchief. Enough talking, snapped the gunman. He reachedover towards Janice, and before she could react, he grabbed the little girland pulled her towards him. Billy, the childs voice rose to a terrifiedwail.I want my Mommy. Billy knew her only as Karen. Just two days before,shed passed a bunch of dandelions to him through the marina fence. Itsokay, honey. Mommys gonna be here in a minute. Dont be. Hey!,screamed the ski-mask. Is anybody listening to me? You got five seconds,you hear me? Five seconds to deliver, or the brat gets it. He aimed thepistol at the struggling childs head. Five..four Billy! I want myMommy. Please.. Threetwo.. Billy began his shuffling dance,head bobbing and weaving, the familiar incatation rolling easily from hislips Useta be a fighter. Coulda been the Champ. Didn getta. Hemoved smoothly, on the balls of his feet, throwing jabs and hooks at hisphantom opponent, body swaying, ducking and dodging. He blocked imaginarycounterpunches with his forearms,, his own blows punctuated by sharp hissesof expelled breath as he moved constantly. Circling, always circling. Hey. Whats that freak doing?, yelled the gunman to no-one in particular. Tellhim to quit! ..Coulda been the Champ I said quit it! You want meto off the kid? Huh? Billy circled closer. Ski-mask was like a rabbithypnotised by a snake. He couldnt remove his eyes from the big man. Is hecrazy? I gotta gun! Didn getta chance.Know I got it.Jusneeda. Ski-mask removed the gun from the childs head and aimed atBilly as he moved dangerously close. Too late,the robber realized hiserror.Before he could return the gun to its former position, Billy lunged. Karen fell to one side, unheeded for the moment. There was a flat crack andBilly staggered, but kept coming. His left jab was slightly off-target ashe was off balance, but the looping right hook caught the gunman solidly inthe ribs, just as the gun spat for a second time, before flippingend-over-end to land in the chest freezer. Billy grunted heavily, butanother right to the midsection of the gunman folded him up like anaccordion, and the crushing left, landed flush on the point of his chinwith a sound like a two-by-four slapping wet cement. The robber flewbackwards, his feet lifted from the floor by the force of the blow, andcrashed into a shelving unit before falling motionless. Manny, stunned by the speed of events, gawped at theunconscious gunman for a few seconds. Then seeing Billy clutch at his chestand sink slowly to a sitting position, he scrambled towards the big man. Billy, you crazy son of.are you alright? Janice! Get some surgicaldressings. Hurry! Call an ambulance and the police too!, he added as anafterthought. The front door opened, and in walked a harassed looking youngwoman.Janice, did Robbie and Karen get their.Good God! Whatshappened? Mommy! Mommy!, cried the kids, abandoning Janice and rushingto their mothers outstretched arms. Janice! Get those dressings. Now!Hurry up!, Manny almost shouted. Billy?.. Billy? The big man toppledover onto his side, and Manny scurried around to cradle the fighters headin his lap. Can you hear me, Billy? The eyes opened. Sure, I hear you.His voice was slurred and he frowned slightly, then his eyes lit up. Hey,Manny? Didya see the combination I threw?. Two rights set im up, thenthe left Hurt me bad twice, but I didn quit..Knew I got thekiller instinctYsaw that Manny, huh? Ysaw my killer instinct, didnya? His voice tailed off for a few seconds. Didn getta chanceWasgonna give youchance, today. Armwrestle for vitamins.Wannatry? A faint grin appeared and a huge paw rose slowly, unsteadily, thendropped back to the floor. At 5:31 pm, the police arrived with drawn guns. They found Manny stillcradling Billys head, tears trickling unashamedly down his cheeks as hecrooned softly to the fallen fighter, .You couldve been the Champ,Billy. You wouldve been a great ChampOver eight hundred people attended the funeral, by the localnewspapers estimate.