WorldCom Scandal A summary of WorldCom fraud would include having to describe the greed that would eventually destroy one of the largest communications companies in the United States and world. A humble motel owner‚ Bernard Ebbers took a small long distance company in 1983 and turned it into one of the most successful businesses in the country. It was not so much the business operations that caused the company to grow but the aggressive acquisitions that made the company grow. In its day‚ CEO Bernard
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HIH Insurance Company Background HIH was originally found in 1968 by Ray Williams‚ then was acquired by British company CE Health PLC in 1971‚ and renamed as "HIH" in 1995. Before its collapse‚ HIH was the second largest insurance company in Australia‚ and covered several insurance segments‚ including worker’s compensation‚ public and private liability‚ property‚ industrial and commercial insurance. It also expanded globally into the US and UK markets. On March 15‚ 2001‚ HIH insurance was
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Running head: CORPORATE SCANDAL 1 Sheri Bardot Ashford University OMM 640 Business Ethics and Social Responsibility Prof. Tricia Devin Corporate Scandal in America: Week 6 March 17‚ 2012 COROPORATE SCANDAL 2 The unethical business practices of Enron‚ Leman Brothers and
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The Fannie Scandal: The ’Financiopaths ’ Did It Article Analysis Jami L. Harris University of Phoenix ACC 363/ Financial Accounting II Facilitator: Eduard Delacruz November 5‚ 2006 Abstract When most people hear the word "Enron‚" they the first thought that comes to mind is watching the news with the executives being taken by handcuffs to a police car due to the scandal. Though it remains very familiar in the minds of the American people‚ Fannie Mae had also lead a scandalous act to
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Another practice is that they switched from an agent model to a merchant model when recognizing revenue. Doing this gave them a 65% increase when typical industry standards only gain between 2-3%. Once they switched to this accounting method other companies started to follow their lead in order to stay competitive with Enron. In addition‚ Enron understated its liability and overstated its equity. They would do this by creating special purpose entities. These entities were created to show investors
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The Enron scandal‚ revealed in October 2001‚ eventually led to the bankruptcy of the Enron Corporation‚ an American energy company based in Houston‚ Texas‚ and the de facto dissolution of Arthur Andersen‚ which was one of the five largest audit and accountancy partnerships in the world. In addition to being the largest bankruptcy reorganization in American history at that time‚ Enron was attributed as the biggest audit failure.[1] Enron was formed in 1985 by Kenneth Lay after merging Houston Natural
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COS COS‚ Collection Of Style‚ is a brand for men and women who want high end design and good quality at an affordable price. Since their launch in 2007‚ COS has opened stores across Europe‚ Asia and the Middle East‚ each one placed in a carefully considered location with a design concept that preserves buildings’ original features whilst creating a modern gallery space for their collection. COS is a new fashion concept‚ which details the design of the garment extremely concerned with the pragmatic
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Introduction Hallmark is the recent largest banking scam in Bangladesh‚ which occurred due to regulatory inefficiency of commercial banking sectors. It is a pointer to the fact that if you do not tighten the regulatory belt of the banks‚ serious problems could creep in. Source suggests‚ this particular business house is assumed to have resorted to fraudulent loan. A fraudulent loan is one in which the borrower is a business entity controlled by a dishonest bank officer or an accomplice; the “borrower”
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principles. The society depends on ethics from people‚ companies and the government in order for a civilized world. What happens when an unethical behavior is done? What if it is done by a large corporation‚ large enough to hurt the economy? The Enron scandal is an example of a historical exposure of unethical behaviors within a company and it is also one of the largest corporate scandals in America. Enron started as a gas pipeline company. It soon expanded into the world’s largest and dominant
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Marketing Plan: The Boston Beer Company Anthony M. King Embry Riddle Aeronautical University Abstract This marketing plan explores the fundamental goals of the Boston Beer Company for status retention‚ market growth‚ and product expansion. The publications and information researched support thorough analysis of the current market‚ product assessment‚ review of competition and current distribution strategies. The company’s threats‚ opportunities‚ strengths and weaknesses
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