All professional sport organizations except Major League Baseball are exempt from antitrust laws.

Which of the following is NOT an advantage of the EV/EBITDA valuation approach over the price-earnings approach?

A) Because the EV/EBITDA approach is more of a cash flow-oriented method, there is less room for accounting discretion. B) Because EBITDA is measured before interest and depreciation expenses are deducted, this method MAXIMIZES potential distortions from capital structure differences C) Because EBITDA is measured before interest and depreciation expenses are deducted, this method minimizes potential distortions from from fixed asset differences across firms when performing comparable analysis. D) All of the above are advantages, not disadvantages for the EV/EBITDA approach.

Which of the following provides an example of a transformational leader?

A) Phil Knight at Nike has energized his corporation and commanded respect. B) Louis Gerstner proposed a new vision for IBM to change its business model from computer hardware to services. C) Microsoft CEO, Steve Ballmer, crawled under tables to plug in PC monitors and diagnosed problems with an operating system. D) Verizon Communications CEO Ivan Seidenberg showed his faith in his people by letting his key managers handle important projects and represent the company in public forums. E) all of the above