2.2 Annotated Bibliography

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Name SCLM 476 2.2 Annotated Bibliography Wilkins, G. (2021). 6 Basic Financial Ratios and What They Reveal. Retrieved on January 12, 2022, https://www.investopedia.com/financial-edge/0910/6-basic-financial-ratios-and-what-they-tell- you.aspx In this article written by Wilkins, a journalist with 30+ years of journalism experience, and fact checked by Andy Smith who has 35+ years of financial management experience, Wilkins discusses what the basic financial ratios are. Wilkins states that extracting data from a company’s financial statements is part of a fundamental analysis which typically involves 6 ratios. Wilkins goes on to list the ratios as working capital, quick ratio, EPS or Earnings Per Share, P/E or Price-Earnings, Debt-Equity, and ROE or Return on Equity. Wilkins starts strong by mentioning working capital and how vital this ratio is as it is a vital measure of financial health for the company. Working Capital is the difference between the company’s assets and liabilities and can measure the ability to pay off debt. To calculate the working capital ratio, divide current assets by the company’s current liabilities. Combining ratios instead of using just one is the best way to properly evaluate a company. Combining ratios during the analysis will create a better picture for understanding the financial health of the business. Corporate Finance Institute. (No Date). Financial Ratios. Retrieved on January 12, 2022, https://corporatefinanceinstitute.com/resources/knowledge/finance/financial-ratios/ This article written by CFI groups financial ratios into categories: Liquidity ratios, leverage ratios, efficiency ratios, profitability ratios, and market value ratios. The article explains that financial ratios help analysists track company performance and can show indicators of success or failure. Financial ratios also enable the company to compare with competitors to determine if the competition is doing better or worse. This is a great article to review when learning the different financial ratios because it groups the ratios into categories and then breaks them down and lists the formulas for figuring each one. Most ratios are basic and require one metric divided by another to figure the ratio. This article clearly explains each ratio so that an individual can figure and then interpret the results.

History Matson. (2022). History. Retrieved on January 10, 2022, https://www.matson.com/corporate/about_us/history.html The history of Matson Navigation company begins in 1882 when Captain William Matson went on a voyage across the pacific coast from California to Hawaii carrying 300 tons of goods. Five years later, Matson upgraded his vessel, selling Emma Claudina the original ship used for the very first voyage, to acquiring the Brigantine Lurline . This acquisition doubled Matson’s capacity and was the beginning of the expansion of the Matson fleet. The first maritime innovation that introduced cold storage and electric lighting was with the Rhoderick Dhu . The first ship to burn oil rather than coal was the Enterprise and was Matson’s first steamship. In 1958, Matson’s S.S. Hawaiian Merchant left San Francisco on a historic voyage introducing the container freight system transporting twenty 24-foot containers revolutionizing ocean shipping around the world. This voyage began the containerization program that tremendously increased efficiencies and productivity adopted world-wide rather than using the previous break-bulk cargo handling methods. After many years of investments, success and growth across the maritime shipping industry, Matson began to expand by forming an intermodal company utilizing rail and truck transportation across North America in 1987. In 2011, the widely recognized leading intermodal company rebranded as Matson Logistics, separating from it’s parent company, Alexander & Baldwin. Matson Inc. acquired it’s main U.S. domestic competitor, Horizon Lines, for $469million in 2015. Today, Matson’s fleet contains over 20 vessels with largest being almost 900 feet in length. Matson. (2022). About Us. Retrieved on January 10, 2022, https://www.matson.com/corporate/about_us/index.html Matson, Inc. is a leading pacific shipping and transportation services company in the U.S. founded 140 years ago in 1882. Matson headquarters is in Honolulu, Hawaii. Matson Navigation is a subsidiary of Matson Inc and provides ocean container shipping across the Pacific ocean to Alaska, Hawaii, Micronesia, Guam, south pacific, Japan, and China. Matson, Inc. is a publicly traded company traded as MATX and is in the shipping and navigation industry with a total of 4,149 employees and holding $2.38 billion in revenue. Matson Logistics, Inc. is another Matson subsidiary that offers North America customers domestic and international rail intermodal services, long haul and regional highway brokerage, supply chain services and less-than-truck load (LTL) transportation services. Main competitors Craft Co. (2022). Matson Competitors. Retrieved on January 10, 2022, https://craft.co/matson/competitors Matson’s acquired their main competitor, Horizon Lines, in 2015. Today some of Matson’s competitors are Eagle Bulk Shipping, Roadrunner Freight, Maersk, and Milaha. Eagle Bulk

shipping was founded in 2005 and specializes in dry bulk ocean transportation shipping worldwide with a valuation of $609 million compared to Matson’s $3.7B. Roadrunner Freight, founded in 1984, is an asset transportation shipping company. Roadrunner’s valuation is $85.3M compared to Matson’s $3.7B. Next competitor is Maersk, an integrated container shipping logistics company founded in 1904, exceeding Matson’s valution at $72.4B with $39.9Billion in revenue. Milaha is a ocean-shipping and logistics company founded in 1957 with headquarters in Doha, QA. Public Image – research on understanding the company’s reputation both internally and externally Indeed. (2022). Matson Reviews. Retrieved on January 10, 2022, https://www.indeed.com/cmp/Matson/reviews In an attempt to understand the company’s reputation from the perspective of its previous and current employees, I studied the 135 company reviews from employees on indeed. 38% of the reviews gave the company a 5 star review. 38% gave the company a 3 star rating or less. The highest ratings rave that Matson is a great company to work for with great salary and excellent benefits. The average salary reported on Indeed between the administrative and operations positions was over $50,000 per year. Employees stated that Matson has a good vacation policy and raises occur on a yearly basis. Matson’s overall company rating is a 3.7 stars. Glassdoor. (2022). Matson Reviews. Retrieved on January 10, 2022, https://www.glassdoor.com/Reviews/Matson-Reviews-E25406.htm Comparing the Indeed company review to the company review on Glassdoor, with Glassdoor having 114 reviews and Indeed having 135 reviews. Glassdoor has an overall rating of 3.2 stars. 65% stated they would recommend the company to a friend and 91% approve of CEO Matt Cox. Glassdoor states the pros of working for Matson is they have great benefits and great company culture. The Cons on Glassdoor states that permanent positions are difficult to obtain because the competition with other individuals due to “everyone knows Matson is the best”. Better Business Bureaus, Inc. (2022). Matson Business Profile. Retrieved on January 10, 2022, https://www.bbb.org/us/hi/honolulu/profile/steamship-agencies/matson-navigation-co-inc-1296-3898 After understanding what it was like working for the company, I wanted to understand the customer’s perspective since that is also extremely vital to the success of a company. According to the BBB, Matson has a 2 out of 5 star customer review but that is only based on ONE customer review. There have been 6 customer complaints closed with the BBB in the last 12 months with 14 over the last 3 years. The most recent customer complaint stated they had Matson ship their tesla. The driver took note of all exterior damages or minor dings prior to the shipment of the vehicle. The customer claimed that the interior seat belts and buttons were

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broken and damaged. Matson responded to this customer complaint stating that they do not take responsibility for any interior damages as an interior inspection was not completed when the vehicle was received and deny any liability to these claims. The next several customer complaints are regarding customers shipping their vehicles. Matson’s overall response continues to deny liability for damages or fees but there are a few responses where they accepted the fault and took accountability where they offered refunds in full to the customer as requested. Matson. (2022). Mission, Vision and Values. Retrieved on January 10, 2022, https://www.matson.com/corporate/about_us/mission_vision_values.html Matson’s mission is to “move freight better than anyone”. The company’s vision is “to be the customer’s first choice, being a greater place to work, to improve the communities in which they work and live, to be an environmental leader in the industry and to leverage core strengths to drive growth and increase profitability”. Matson. (2022). Sustainability. Retrieved on January 10, 2022, https://www.matson.com/sustainability.html Part of Matson’s values include environmentally friendly principles in order to achieve their goal of moving freight better than anyone while delivering value to all stakeholders. Matson is moving toward a low-carbon future in an attempt to safeguard the ocean environment. Matson acknowledges that their vessels operate in some of the purest and environmentally sensitive waters in the Pacific. Matson is committed to protecting these areas by reducing GHG emissions and climate change with short to long term goals. Matson recycled the last of their steamships in 2021. Matson plans to reduce GHG emissions by 40% from their fleet by 2030 and achieve a net zero total emissions by 2050. Matson strives to have zero significant spills by utilizing their combination of written procedures, training and maintenance. Matson has an oil spill response plan in the event the prevention efforts fail. Matson Logistics is part of a partnership with the EPA in an effort to increase energy efficiency while also reducing air pollution and greenhouse gas emissions. Supply Chain Role Matson. (2021). Company Profile. Retrieved on January 10, 2022, https://www.matson.com/logistics_new/matson_logistics_2021_company_profile.pdf Matson Navigation provides ocean transportation services across the Pacific. Matson also provides premium container shipping services from China to Los Angeles. Matson has subsidiaries such as Matson Logistics Inc. which provides international supply chain services throughout Asia, Europe, and Africa, with multimodal transportation with rail and road in addition to warehousing and distribution.

Organizational structure Matson. (2022). Management. Retrieved on January 10, 2022, https://investor.matson.com/corporate-governance/management Matson’s CEO is Matthew J. Cox. He has been CEO since June 2012. Cox is responsible for overseeing the entire Matson organization, including it’s subsidiaries. Ronald Forest is President of Matson and was appointed in 2017. Forest is responsible for the operations of the company. Peter Heilman is the Executive VP and the Chief Administrative Officer. Heilmann is responsible for the company’s legal and HR activities. John Lauer is the Executive VP and Chief Commercial officer responsible for sales, marketing, pricing and customer service. Rusty K. Rolfe is President of Matson Logistics. Joel Wine is the Executive VP and Chief financial Officer. Vic Angoco oversees activities in the Pacific division of Matson as the Senior VP. Bal Dreyfus is the Senior VP in Alaska and Qiang Gao is the Senior VP in Asia. The customer experience senior VP is Laura Rascon and the Senior VP for Network Operations is Rich S. Kinney.

2.2 Annotated Bibliography

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