wanted to abolish communism. They hated the Soviet Union even though they were allies in the previous world war. The Soviet Union got involved with Cuba and it started the whole fiasco between Cuba and the US. The US almost went to war with Russia because of this showing how they were willing to start World War III. This Fiasco demonstrates how quickly a problem can arise and lead to a natural disaster and how two super powers who do not want to show weakness will do anything to stay powerful. Before
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Corporate Finance AIG Accounting Scandal Explained December 8th‚ 2012 ________________________________________________________________________________ On February 9th‚ 2006‚ the SEC and the Justice Department settled with AIG for an amount in excess of $1.6B related to alleged improper accounting‚ bid rigging (defined by Investopedia as a scheme in which businesses collude so that a competing business can secure a contract for goods or services at a pre-determined price)‚ and practices involving
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Problem Definition In October of 1992‚ the new computer aided dispatch system of the London Ambulance Service (LASCAD) failed to meet the demands of use and brought their operations to a standstill. Dispatchers could no longer locate ambulances‚ multiple ambulances showed up for the same calls‚ errors built up in the queue slowing the system down further‚ and callers became frustrated as the hours went by with no ambulance showing up (London Ambulance Service Unofficial‚ n.d.). In addition‚ it
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International Group (AIG)” Background American International Group‚ Inc. is a company whose operation began back in 1919. It was established back then by Cornelius Vander Starr as an insurance agency in Shanghai‚ China. AIG left china in 1949 after Starr had established himself as the westerner the sell insurance to the Chinese people. AIG headquarters then shifted from china to New York City‚ which is still the headquarters up to date. It is from here that AIG began its expansion tapping
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International Group‚ Inc. (AIG). This article will investigate how AIG’s current management structure and value system is flawed and the impact of this flawed system on AIG’s long-term financial and productive health. If AIG were to implement a Value Driven Management (VDM) strategy‚ the company will experience developments in consumer trust‚ employee loyalty‚ managerial leadership‚ organizational ethics‚ long-term profitability‚ market share growth‚ and societal confidence that AIG is a valuable member
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Content Introduction 2 Part 1: Overview 2 1.1 Timeline of AIG Accounting Scandal 4 1.2 Relationship Chart of AIG and Its Counterparties 5 Part 2: Accounting Issues 6 2.1 Background on Reinsurance and Relevant GAAP Rules 6 2.2 Manipulation Technique 1 7 2.3 Manipulation Technique 2 7 2.4 Retrospections 8 Part 3: Auditing Issues 9 3.1 Reasons for Auditing Failure 9 3.2 Retrospections 11 Part 4: Corporate Governance 12 4.1 Tone at the Top
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Case 11.1: The direct sales model or a ‘dual system’ model: Dell’s distribution strategy in China. 1. What are Dell’s FSAs? What are the macro-level requirements for the direct sales model to be successful? What are the major advantages of the direct model‚ compared with the tradi tional channel strategy in the computer business? Dell’s main FSA is its well designed and integrated supply chain based on its direct sales model. Dell successfully controls its own distribution‚ bypassing conventional
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(Toyota Production System‚ 2015) This was made to help the company reduce inventory. It helped them not only lower wasted material but improve productivity. The purpose of this paper is to review lean manufacturing and how the core elements relate to AIG. THREE CORE ELEMENTS OF LEAN MANUFACTURING There are so many elements in lean manufacturing that can be used. American International Group‚ Inc. utilizes many of the core elements but I will cover the three major elements. The elimination of waste
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Andrew Sorkin wrote a book titled Too Big To Fail. This book focus on the collapse of the investment bank Lehman Brothers‚ Merrill Lynch was sold by Bank of American‚ Freddie Mac and Fannie Mae was nationalized‚ and the government took 80 percent of AIG that took place on the weekend of September‚ 15‚ 2012. Significantly‚ he examined the financial markets reactions to the bankruptcy of Lehman Brothers. It starts with the failure of Bear Stern‚ one of the biggest banks in American. Bear Stern found
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The most influential trend in the world economy is a major downturn in economic activity‚ including economic recessions in many of the most powerful countries in the world. At the end of 2008‚ the U.S‚ Japan‚ Germany‚ France‚ and the European Union as a whole‚ observed that the economy was moving at a slow space and at that point the declared recession. The financial crisis also known as the subprime crisis became noticeable when the U.S housing bubble sparked a fierce global economy crisis affecting
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