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Report No. : |
352333 |
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Report Date : |
08.12.2015 |
IDENTIFICATION DETAILS
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Name : |
MEIJER DISTRIBUTION, INC. |
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Registered Office : |
2929 Walker Avenue N.W., Grand Rapids, MI 49544 |
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Country : |
United States |
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Date of Incorporation : |
26.10.1999 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject operates as a retailer that distributes pharmaceutical, drug,
wines, clothings and personal care products. |
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No. of Employees : |
500 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a per capita GDP of $54,800. US firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment; however, their advantage has narrowed since the end of World War II. Based on a comparison of GDP measured at Purchasing Power Parity conversion rates, the US economy in 2014, having stood as the largest in the world for more than a century, slipped into second place behind China, which has more than tripled the US growth rate for each year of the past four decades.
In the US, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets.
Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.
The onrush of technology has been a driving factor in the gradual development of a "two-tier" labor market in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.
Imported oil accounts for nearly 55% of US consumption and oil has a major impact on the overall health of the economy. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008.
The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the United States into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009 the US Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012, the federal government reduced the growth of spending and the deficit shrank to 7.6% of GDP.
Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2014, the direct costs of the wars totaled more than $1.5 trillion, according to US Government figures. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.
In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that was designed to extend coverage to an additional 32 million American citizens by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on health care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010.
In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight.
In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short term rates near zero until unemployment dropped below 6.5% or inflation rose above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and reduce them further as conditions warranted; the Fed ended the purchases during the summer of 2014. In 2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by mid-2015, the lowest rate of joblessness since before the global recession began; inflation stood at 1.7%, and public debt as a share of GDP continued to decline, following several years of increase.
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Source
: CIA |
Company name: MEIJER DISTRIBUTION, INC.
Address: 2929 Walker Avenue N.W., Grand
Rapids, MI 49544 - USA
Telephone: +1
616-453-6711
Fax: +1 616-791-2572
Website: www.meijer.com
Corporate ID#: 16867A
State: Michigan
Judicial form: Corporation – Profit
Date incorporated: 10-26-1999
Stock: 10,000
shares common
Value: No
par value
Name of manager: Hendrik
G. MEIJER
Business:
Meijer Distribution, Inc. operates as a retailer that distributes
pharmaceutical, drug, wines, clothings and personal care products.
The company was founded in 1999 and is based in Grand Rapids, Michigan.
Meijer Distribution, Inc. operates as a subsidiary of Meijer, Inc.
Since 11-16-2010, the Company is also doing business as VANTASOURCE.
Office
of the Foreign Assets Control (OFAC):
The company is not listed on the OFAC list.
The Specially Designated Nationals (SDN) List is a publication of OFAC
which lists individuals and organizations with whom United States citizens and
permanent residents are prohibited from doing business.
No name of foreign suppliers available.
EIN: -
Staff: 500
Operations & branches:
At the headquarters, we
find the corporate office.
Shareholders:
MEIJER, INC.
Incorporated in Michigan on January 2, 1947
ID# 060239
Meijer, Inc. operates supercenters and grocery stores in Michigan, Ohio,
Indiana, Illinois, Wisconsin, and Kentucky.
Management:
Hendrik G. MEIJER is the Chairman and CEO
Mr. Hendrik G. Meijer serves as Chief Executive Officer of Meijer, Inc.
Mr. Meijer founded Meijer Inc. in 1934 and served as its Chairman.
He serves as Co-Chairman of Meijer Inc. He has been a Director of Fifth
Third BanCorp and Fifth Third Bank (Cincinnati, OH) since 2001.
He served as a Director of Old Kent Financial Corp. since 1997 and its
subsidiary, Old Kent Bank since 1989. He also served as Director of Meijer Inc.
Mr. J. K. SYMANCYK is the President and Director.
He has been President of Meijer, Inc. since February 2012.
Mr. Symancyk served as Chief Operating Officer of Meijer, Inc. since
2012.
Mr. Symancyk had oversight of retail operations, supply chain,
manufacturing, merchandising and marketing.
He joined Meijer in 2006 as Vice President of perishables and served as
Executive vice president of merchandising and marketing since 2007.
Subsidiaries and partnership:
None
In United States, privately
held corporations are not required to publish any financials.
On a direct call, nobody
was available to answer our questions.
We sent a fax but no answer
received.
However, sales estimate for
year 2014 is in the range of USD 50,000,000=
(USD 15 billion for the
group)
The business is profitable.
Banks: First National Bank of Michigan
JPMorgan Chase Bank
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts
summary (UCC):
Numerous