Just need a 2-3 paragraph analysis on each article discussing accounting-related issue for each for some extra credit please and thank you.

TO DO: 1. Read Articles 2. 2 to 3 paragraphs summarize each and discuss why the issues are relevant and what accounting issue is related to each. (1)Hanjin Shipping Shares Soar After Funding Offers -- South Korea company offered $100 million from main creditor and largest shareholder By In-Soo Nam WSJ Sept. 22, 2016 SEOULSouth Korea's Hanjin Shipping Co. has been offered a combined $100 million from its main creditor and largest shareholder to help get its stalled global supply chain moving, as the government gave further indication it has no plans to bail out the beleaguered firm. State-run Korea Development Bank, which helped push the company into receivership in August after withdrawing its support as lead creditor, said Thursday it decided to open a fresh credit line of up to 50 billion won ($45 million) for Hanjin. This was in case it needed extra funds to help resolve global disruptions to its cargo operations, it said. \"This credit line is just for moving cargo again. We're not resuming our full financial assistance to the company,\" the state bank said in a statement. The KDB and other lenders in late August rejected Hanjin's self-rescue proposal and withdrew their support for the country's largest container operator and the world's seventh largest, forcing it to file for bankruptcy with a Seoul court on Aug. 31. Separately, Korean Air Lines Co. , which holds a third of Hanjin, approved a 60 billion won lending plan at a board meeting late Wednesday, saying it would secure the funds using Hanjin's accounts receivable as collateral. The provision is part of a pledge this month from Hanjin Group to put up at least 100 billion won, including 40 billion won from Group Chairman Cho Yang-ho's personal wealth, to help resolve the cargo situation. Since Hanjin was placed under court receivership on Sept. 1, dozens of its ships carrying an estimated 500,000 containers have been either seized by creditors or blocked from ports amid questions about who would pay docking fees, container-storage bills and dockworkers' wages. The stalemate marooned an estimated $14 billion in cargo at sea, much of it Asian merchandise destined for holiday shoppers in the West. Shares of Hanjin soared by the daily limit of 30% in Seoul following Korean Air's decision. Korean Air's board of directors had opposed the company's earlier plan to offer the funds, using Hanjin's stake in a container terminal in Long Beach, Calif., as collateral, because it required approval from other stakeholders in the terminal. \"We'll try to offer the emergency funds as soon as possible. We hope the money will help Hanjin's cargo operations around the world,\" a Korean Air spokesman said Thursday. However, analysts said the emergency funds could still be short of what is needed to ease disruptions to cargo services globally. South Korean government and court officials have said that Hanjin may need about 270 billion won to resolve the global cargo crisis. South Korea's finance minister on Thursday indicated that the most likely scenario is that Hanjin will eventually be liquidated, marking one of the shipping industry's biggest failures. Yoo Il-ho reiterated that the government won't help out Hanjin with public funds. \"It's heartbreaking to see the trouble the country's No. 1 shipping company faces now. But it's improper to inject further taxpayers' money into it,\" Mr. Yoo said in a National Assembly session. Korea's maritime ministry said Thursday that 31 vessels from Hanjin's container fleet of 97 ships have finished off- loading goods at ports in California, Spain and other parts of the world. Around 32 cargoladen ships remain stranded at sea, while 34 ships are heading back to South Korea to berth at a port in Busanone of a handful of major global ports where Hanjin ships can freely unload cargo without the threat of seizure from creditors. A Seoul bankruptcy court judge handling Hanjin's insolvency proceedings said Wednesday that the chances of the beleaguered shipping company surviving are low if top priority debt such as backlogged charter fees grow out of control. The court has also ordered Hanjin to return the ships it charters back to their owners and to sell as many of its own ships as possible to cut costs. Nearly two-thirds of Hanjin's container fleet of 97 vessels are leased, and the latest cargo crisis is costing the cash- strapped company at least $2 million a day in fees to those owners, according to the judge and brokers. A Hanjin spokeswoman said Thursday the company has already returned or been asked by shipowners to return a total of 19 container ships so far. She didn't provide a breakdown. Hanjin is required to submit a detailed rehabilitation plan by early December. The court will then decide whether to accept it or let the company go under. (2)Hanjin Shipping's Troubles Leave $14 Billion in Cargo Stranded at Sea Owners strive to recover their goods and get them to customers in wake of Hanjin Shipping bankruptcy filings By Costas Paris and Erica E. Phillips Sept. 8, 2016 Page A1 South Korea's biggest shipping line, Hanjin Shipping Co., filed for bankruptcy protection on Wednesday as falling trade volumes claimed another victim. Shipping is one of the sectors in which South Korea is a global leader, so what does this recent collapse tell us about world trade? The financial woes of one of the world's biggest shipping lines have left as much as $14 billion worth of cargo stranded at sea, sending its owners scurrying to try to recover their goods and get them to customers, according to industry executives, brokers and cargo owners. Since Hanjin Shipping Co. of South Korea filed for bankruptcy protection there last week, dozens of ships carrying more than half a million cargo containers have been denied access to ports around the world because of uncertainty about who would pay docking fees, container-storage and unloading bills. Some of those ships have been seized by the company's creditors. Samsung Electronics Co. , which makes the Galaxy smartphone and other devices, said it has cargo valued at about $38 million stranded on Hanjin ships in international waters. \"We're passengers on a bus, and we're being told we can't get off,\" Evan Jones, a lawyer for the company, said Tuesday. Samsung said it is considering chartering 16 cargo planes to fulfill its shipment contracts, mostly to the U.S. About 95% of the world's manufactured goodsfrom dresses to televisionsare transported in shipping containers. Though Hanjin accounts for only about 3.2% of global container capacity, the disruption, which comes as retailers prepare to stock their shelves for the holiday season, is expected to be costly, as companies scramble to book their goods on other carriers. Analysts don't expect the snarl to leave U.S. retailers with inventory shortfalls for the holidays, but the longer the logjam drags on, the greater the risk. \"This is not impacting store shelves now,\" said Nate Herman, a senior vice president for the American Apparel & Footwear Association. \"It will impact store shelves if the situation isn't resolved.\" On Tuesday, the association, which represents manufacturers and retailers, held a conference call with 150 members. \"People are still trying to figure out how to get their boxes off the boat and move them,\" Mr. Herman said. While Hanjin was granted protection by bankruptcy courts in Korea and the U.S., conditions are \"bordering chaos,\" said Lars Jensen, chief executive of SeaIntelligence Consulting in Copenhagen. \"With so many Hanjin ships barred from entering ports, shippers have no idea when their cargo will be unloaded.\" The courts' protection permits Hanjin ships to move in and out of certain terminals in those countries without fear of asset seizures. But shippers and brokers say the rulings don't solve the shipping line's problems in the U.S., as it is unclear whether Hanjin will be able to afford to have the ships unloaded once they dock. Moreover, the courts' rulings don't necessarily apply to ports in Asia and Europe. Mr. Jensen said 43 Hanjin ships are en route to scheduled destinations with no guarantees that they will be allowed to unload. An additional 39 are circling or anchored outside ports. Eight ships have been seized by creditors. As Hanjin ships drift at sea, their crews face increasing uncertainties and diminishing supplies. \"We usually have food and water for about two weeks,\" said the captain of a Hanjin-operated ship speaking by satellite phone from the South China Sea. But, after 12 days at sea, \"everything is getting tightfood, water and fuel,\" he said. The captain added that he is rationing water and cutting back air conditioning to save energy. \"The heat is driving the crew crazy,\" he said. His ship was carrying lubricants and home appliances from South Asia to a Chinese port, but last Thursday, he was told to stop, as the ship could be seized at its destination. Adding to the confusion, shippers and brokers said the Korean government has designated only three socalled base portsLos Angeles, Singapore and Hamburgwhere Hanjin vessels can unload shipments without risk of being seized by creditors. \"Even in those ports, we don't know who is going to be paying unloading and docking fees,\" a broker in Singapore said. \"Korea says it will be Hanjin, but Hanjin is telling us it has no money. It's a total mess.\" The Korean Shippers Council, which represents more than 60,000 trading companies, said Wednesday its members \"have not been able to figure out the whereabouts of their freight.\" Brokers said the problems extend to carriers with vessel-sharing deals with Hanjin. They includeChina's Cosco Group, Japan's Kawasaki Kisen Kaisha Ltd., and Taiwan's Evergreen Marine Corp. and Yang Ming Marine Transport Corp. , which typically move thousands of Hanjin containers daily. Sanne Manders, chief operating officer at California-based freight forwarder Flexport Inc., said rates on Asia-U.S. cargo have risen 40% to 50% since Monday on all sea lanesnot just those operated by Hanjin. \"That amounts to easily $600 to $700 per container,\" Mr. Manders said. \"We think this period of high prices will be 30 to 45 days," through the initial peak for Thanksgiving-season shipping, he said. Freightos, an online marketplace for booking freight shipments, said the average price per container on Asia-U. S. routes rose 56% to $4,423 on Tuesday from $2,835 a week earlier. Executives with freight-booking platform Shippabo warned that companies should expect delays as many cargo containers have been rerouted on different vessels. \"For the top 25 importers, this is a blip,\" said Frank Layo, a retail strategist at consulting firm Kurt Salmon. \"They're diversified, they're not shipping it all on one line.\" But for smaller retailers with less sophistication, \"this could be devastating,\" he said. The Hong Kong Shippers' Council said local terminals are charging shippers a special fee of $1,260 per container to allow them off Hanjin ships. Cargo owners said at least 10 other European and Asian ports are charging similar fees. (3) Judge Allows Hanjin Ships to Dock Safely in U.S. Ports -- It is unclear if the shipping company can afford to pay the workers needed to unload the ships stranded offshore after bankruptcy filing By Tom Corrigan Sept. 7, 2016 Page B3 Container ships operated by South Korea's Hanjin Shipping Co., now stranded at sea, soon should be able to dock in U.S. ports, but it remains unclear if the company can afford to pay the army of workers needed to unload the ships. After a hearing Tuesday, U.S. Bankruptcy Judge John Sherwood agreed to bring Hanjin under the umbrella of U.S. bankruptcy law, temporarily preventing creditors in the U.S. from seizing assets. But the judge's order doesn't guarantee that the ships' cargowhich includes children's toys, tires, clothes and computerswill make it to shore and onto store shelves soon. Since the carrier filed for bankruptcy in Seoul last week, ports, cargo handlers, truckers and railways have refused to touch Hanjin's containers, fearing they won't get paid. \"The logistical issues here are pretty substantial,\" Judge Sherwood said at Hanjin's debut appearance in U.S. Bankruptcy Court. \"There's a lot of manpower, time and expense that goes into bringing a cargo ship into port and unloading it.\" Hanjin, one of the world's largest shipping companies, sought chapter 15 bankruptcy protection Friday in Newark. N.J., just days after filing for the equivalent of chapter 11 in South Korea. Once approved by a judge, chapter 15 gives a foreign company the benefits of U.S. bankruptcy law, including the so-called automatic stay that halts lawsuits and otherwise prevents interference from creditors while the company focuses on restructuring at home. \"This is a very, very key aspect of the company's rehabilitation plan,\" Hanjin's bankruptcy lawyer Ilana Volkov told the judge Tuesday. Hanjin's bankruptcy has caused widespread disruptions in freight shipments, creating a logistics nightmare for many suppliers. The refusal of ports to handle cargo, for fear they won't be paid, has stranded nearly 80 Hanjin ships and at least half a million containers at sea. Many containers that have been unloaded have yet to be handed off to the next link in the supply chain, lawyers for suppliers said Tuesday. Lawyers for Hanjin, terminal operators, suppliers and others on Tuesday said they hoped to arrive at agreements that will address some of these issues in the next few days. Another bankruptcy court hearing on the matter is slated for Friday morning. Hanjin's parent company already has agreed to put up 100 billion won ($90 million) to help resolve the cargo crisis, but that hasn't been enough to fully assuage concerns from both suppliers and cargo handlers. South Korea's maritime ministry said Hanjin Shipping would need more than 600 billion won for unpaid costs, such as fuel, including about 100 billion won for immediate payments to ports and terminal operators. On Tuesday, Ms. Volkov said Hanjin is aware of the problems and \"working feverishly\" to address them. \"All we can do is assure that the company is working around the clock to raise the financing to pay people and to start moving the cargo and to do what's necessary for our customers,\" she said. Upcoming months are critical to retailers preparing for Black Friday and the holiday-shopping season, and many companies appeared in court Tuesday to urge the judge to help get ships into port. HP Inc. hired Hanjin to deliver computers made in China to destinations, including several U.S. ports, and says it has its products in more than 500 containers sitting on Hanjin ships worth \"tens of millions of dollars.\" Robert Feinstein, a lawyer for HP, on Tuesday said that if the issues aren't worked out soon, it would result in a \"cataclysmic event for customers.\" Samsung Electronics Co. says it also has finished products sitting on two Hanjin vessels stranded off the coast of Long Beach, Calif. Samsung says those ships carry 304 containers cargo from its Visual Display Business worth about $24.5 million. The company's appliance arm has another 312 containers holding refrigerators, washing machines, dishwashers and other goods worth about $13.5 million, court papers show. If the cargo isn't unloaded soon, Samsung said, it would have to spend millions of dollars to charter 16 planes to transport its cargo by air to meet obligations to its customers. \"We're passengers on a bus, and we're being told we can't get off,\" said Evan Jones, a lawyer for Samsung. The troubled company is a unit of Hanjin Group, which is South Korea's 10th-largest conglomerate and also controls Korean Air Lines Co. Hanjin is the largest shipping company in Korea, with 140 container or bulk vessels. It is ranked as the world's ninth-largest container shipping company, transporting more than 100 million tons of cargo a year, court papers show. The carrier's debt stood at $5.5 billion at the end of June. The company ultimately plans to file for bankruptcy protection in about 10 countries. Courts in Japan and the U.K. already have granted protections similar to chapter 15, Ms. Volkov said Tuesday. The Seoul central district court has given Hanjin until Nov. 25 to submit a rehabilitation plan that will determine whether it can continue operating. But this is seen as granting the company more time for an orderly liquidation, given that the government has signaled that it sees no future for Hanjin by calling on smaller rival Hyundai Merchant Marine Co. to buy its healthy assets. (4) Stuck on Ship, One Gloomy Hanjin Crew Waits to Learn Its Fate -- Court order has vessel frozen in port as creditors seek to seize property from ill-fated shipper By Saurabh Chaturvedi Sept. 15, 2016 Page A1 ON BOARD THE HANJIN ROMEFor almost three weeks, two dozen men have been whiling away the hours off the coast of Singapore on a rusty old cargo ship loaded with frozen meat and other goods. They had been headed from South Korea to the Persian Gulf. Now they're stuck, not allowed to dock or to leave. The crew spends its days tending to the cargo and googling for news on their phones about their ship's illfated owner, Hanjin Shipping Co. , which filed for receivership in South Korea last month. Mostly \"at ease,\" they surf the Web, chat, play cards, go the gym and watch movies\"legally downloaded,\" according to the captain, Kwon Do- moon. \"Family is worried, but we are in touch,\" said one crewman. Their biggest concern: When will they get off the ship, and will there be any jobs left in the industry for them when they do? Hanjin, one of the world's largest shipping lines, fell victim to a world-wide capacity glut resulting from the slump in global trade. Creditors have already moved to seize some of its assets. A Singapore court on Aug. 29 granted a provisional request to seize the Hanjin Rome filed by Rickmers, a Hamburg-based company, which says Hanjin owes it money. South Korea's biggest shipping line, Hanjin Shipping Co., filed for bankruptcy protection on Wednesday as falling trade volumes claimed another victim. Shipping is one of the sectors in which South Korea is a global leader, so what does this recent collapse tell us about world trade? Photo: Getty Images That means the container ship, with a gross capacity of 65,000 metric tons, is banned from any shipping operations. A security guard has been posted on board to ensure it doesn't leave. The men aren't allowed off, unless there is a medical emergency, because the ship can't dock. Hanjin owes money to the port operator, PSA International Pte. Ltd, as well. Since Hanjin filed for bankruptcy protection, dozens of its ships carrying more than half a million containers have been denied access to ports because of uncertainty about who would pay docking, unloading and storage bills. As much as $14 billion worth of cargo has been stranded at sea at a time when retailers are stocking up for the Christmas season. The company had 89 cargo vessels74 container ships and 15 bulk carriersstranded as of late Wednesday, according to a Hanjin spokeswoman in Seoul. Capt. Kwon had the guard buy local SIM cards for his crew10 other South Koreans and 13 Indonesians so they could call home and keep up with the news. The crew is free to top-up when the cards run out as long as they can pay for it. No one knows how long they are stuck there. The last they heard from Hanjin headquarters was a greeting for the Korean Thanksgiving holiday, which began Wednesday. \"They don't have enough information,\" said Capt. Kwon, a portly, 36-year-old father of twin 8-year-old girls. Food hasn't been a problem; supplies were delivered on Aug. 29 and the captain said he was expecting another shipment this weekend, to be paid for with funds the company gave him at the start of the journey. The Korean crew cherishes kimchi and pork, while the Indonesians, who are Muslim, have beef and lamb. To drink, machines turn seawater into fresh water16 tons to 17 tons every day, he said. \"That's the magic.\" They also have bright-blue cans of Pocari Sweat, a Japanese sports drink. The ship has four generators on board and 200 days-worth of fuel. The captain said he expects there will be an end to the stalemate before that runs out, possibly by the end of November. Slowly Sinking Hanjin Shipping's woes have frozen part of the global supply chain April Having amassed debts in a global shipping market awash in excess capacity, Hanjin Shipping Co. applies for creditor-led debt restructuring to avoid bankruptcy. August Creditors say they will no longer support Hanjin, pushing it close to bankruptcy. Shippers brace for rate increases out of Asia as the carrier stops taking shipments and faces detention of its ships by creditors. The company files for receivership Aug. 31 with Seoul District Court. Sept. 4 Hanjin applies for bankruptcy protection in the U.S. Sept 6 Hanjin's parent company says it will put up 100 billion won ($90 million) to help its affiliate get its supply chain moving. Hanjin's woes have left $14 billion in cargo stranded at sea. Sept. 9 A Hanjin lawyer says the company has funding and permission to unload four ships bound for U.S. ports. Sept. 13 The beginning of a fire sale of the fleet signals that Seoul won't bail out the company. Sept. 14 Hanjin has 74 container ships and 15 bulk carriers stranded at sea, according to a Hanjin spokeswoman. He has been on board since the ship started its journey from Busan, South Korea, on Aug. 19. It stopped in China before reaching Singapore, from where it was scheduled to go to Malaysia, Sri Lanka, the United Arab Emirates, Iran and Oman before returning. He wouldn't give much detail on his cargo, aside from saying it included frozen meat and poultry. The crew has special instructions from the Korean office on handling special cargo, he said, without elaborating. For a reporter's visit to the ship on Wednesday, organized by three trade unions, crew members were reluctant to speak, but had prepared neatly lettered placards in English and Korean appealing for help. Most had gloomy faces. The youngest was a 22-year old apprentice and the oldest was 53. The union members brought two bags of treats fried rice, chicken drumsticks and buttercake from a Singapore bistroand assured the men they were doing everything possible to help them. Two young officers said they worried about finding work again, given the state of the industry. \"I don't know what's next,\" one said. \"Maybe I'll prepare my CV and look for a new job. [We've got] enough time.\" The officers received their monthly pay last week as usual; the next payday for the seamen is Sept. 20. Under Korean law, Hanjin has to pay them for three monthsmeaning through Novemberand three years of retirement benefits, according to the seamen. Hanjin officials weren't immediately available for comment. Meanwhile, the men are stuck on the rusting Hanjin Rome, which was commissioned in 1998 and is nearing the end of its 20-year lifespan. Capt. Kwon joined the company in 2000 and like his men is used to life at sea. \"Mentally it's a tough time,\" he added. Still, he said he worries more about another Hanjin vessel stalled outside Singapore, which hasn't been seized but isn't being allowed into port. \"They can't get any food from the shore,\" he said. \"If someone's sick, nobody can help. It can take half a day or one day to contact with coast guard.\" He said he hasn't been able to talk to anyone on that ship. \"My colleagues only send emails.\