Phoenix Publishers has always provided ree child care to all employees with children ages 3 months to 5 years. For its 50 years o operation, the company has taken great pride in being a amily-riendly employer. ough economic times

or the book publishing industry and rising costs o operation or the child-care center, however, now require that the company begin charging parents $100 per month per child or the services o the child-care center. According to the president o the company, it was either that or reeze wages or all employees or lower the already slim dividend paid to the company’s stockholders and risk a loss o investors. Te president o the company directs you to write three letters regarding this important change: one to parents using the child-care center, one to all employees, and one to the stockholders. Note that parents will also receive the letter addressed to employees. Note also that some employees are also stockholders. Te president recognizes the sensitivity o this policy change and thus will also expect rom you a memo justiying the variations you made in the three letters.