C31_Midterm_Winter_2009 - Management C31 (Sections L01...

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Management C31 (Sections L01 & L30) Midterm Examination, Winter 2009 February 28, 2009, 1-3 p.m. Professor Hugh Laurence & Jeff Rybak You will have 1 hour and 50 minutes to write this midterm, beginning at 1:10 and ending at 3pm. It will be marked out of 100. There is one question. The exam has 3 pages. Gothic Tower is a notable city landmark with an unfortunate history. The original owner was Big Property Management Inc. (BPM). The building was designed by John Dante, a well-known architect at the head of a successful incorporated firm, John Dante Architects Inc. The building is five stories tall and heavily ornamented with stonework gargoyles and various other stone flourishes. It was constructed by David and Goliath Contracting Inc. (D&G) as the primary construction company. The complex stonework was done by Smith and Sons Masonry, a small but specialized subcontractor. Smith and Sons Masonry is a partnership owed and operated by Mr. Smith and his two sons. The building was completed in 1985. John Dante Architects Inc. moved into the building in 1990, taking the entire top floor. Soon after, Big Property Management sold the building as one of its less successful assets. In 2001, the building was up for sale again. At this point, there were six tenants remaining in the building. John Dante Architects Inc. was still located there. There was also Larry Lawyer (in sole practice), Anne Accountant (also in sole practice), Peggy’s Publishing House Inc., and a convenience store and a dry cleaner in the retail space at street level. All of these tenants knew one another quite well. Larry Lawyer called a meeting of the tenants and suggested they might raise the money themselves to buy the building. The owners of the convenience store and the dry cleaning business weren’t interested, but they indicated they would be very happy to stay on as tenants if the deal came together. Dante, Larry, Anne, and Peggy discussed what each could afford to put towards the
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This note was uploaded on 07/20/2011 for the course MGMT 31 taught by Professor Rayed during the Spring '11 term at University of Toronto- Toronto.

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C31_Midterm_Winter_2009 - Management C31 (Sections L01...

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