Enron Case study in OL1150 Unit 4 Accounting methods have changed over the last couple decades. Numerous Fortune 500 companies were concealing debt in an accounting method known as mark-to-market (Ferrell‚ O. C.‚ Hirt‚ G. A.‚ & Ferrell‚ L. 2005). Enron was one of several companies that was hiding their debt‚ while reporting annual earnings of $111 billion. Many Fortune 500 companies went under fire in the early 2000’s for their misleading accounting methods‚ leading investors to believe the company
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Trident University Case 1- The Adelphia Scandal ETH501: Business Ethics Dr. Bonnie Adams 4/13/2014 Introduction Aldelphia Communications Corporation was founded in 1952 by John Rigas and two partners. Rigas began to grow the business and by July 1‚ 1986 Adelphia was ready to go public. The company quickly grew into the sixth largest cable company in the United States. Its annual revenue exceeded $2.9 billion with offices located in 32 states and Puerto Rico (Barlup‚ Hanne & Stuart‚ 2009). With
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Enron Corporation‚ a major billion dollar company‚ was thriving at its highest level back in the year of 2000. Enron employed approximately 22‚000 associates and was named “America’s most innovative company” by Fortune. However‚ under all of the bliss‚ revealed was a substantial amount of corporate fraud and corruption. The Enron scandal involved both illegal and unethical activity. Enron’s executive chose deception of the stakeholders and short-term financial gains for themselves. They were
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SCHOOL OF LAW Year 2013-14 Term 1 LAW001 ETHICS AND SOCIAL RESPONSIBILITY Instructor: David N. Smith Practice Professor‚ School of Law Tel: Email: Office: 6828 0788 davidsmith@smu.edu.sg School of Law‚ Room 4044‚ Level 4 COURSE DESCRIPTION Issues of ethics and social responsibility arise in all professions and all aspects of life. The failure to anticipate‚ recognize and deal effectively with these issues can have serious implications for individuals‚ companies‚ governments
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Introduction The term “ethics”‚ as it is applied to business and organizations‚ is difficult to precisely define. The International Business Ethics Institute defines business ethics as “a form of applied ethics” that “aims at inculcating a sense within a company’s employee population of how to conduct business responsibly” (Business ethics primer‚ 2004). The Institute notes that the term business ethics does not translate well into other (non-English) languages and that it can be hard‚ even within
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Timeline of the Tyco International scandal Key dates and events that led to the convictions of former Tyco CEO L. Dennis Kozlowski and CFO Mark Swartz: March 13‚ 2001: Tyco announces $9.2 billion cash and stock deal to purchase the CIT Group‚ a commercial finance company. Tyco director Frank Walsh helps arrange the deal. Dec. 5‚ 2001: Tyco shares close at a high of $59.76 on the New York Stock Exchange. Jan. 14‚ 2002: Business Week magazine lists Tyco CEO L. Dennis Kozlowski as one of the top
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lWatergate Scandal Timeline A Complicated President There have been many scandals throughout American presidential history‚ but only one has ever brought down a presidency. To understand Watergate‚ it is helpful to have an understanding of the culture of the administration‚ and of the psyche of the man himself. Richard M. Nixon was a secretive man who did not tolerate criticism well‚ who engaged in numerous acts of duplicity‚ who kept lists of enemies‚ and who used the power of the presidency to
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No. 2005–57 ROYAL AHOLD: A FAILURE OF CORPORATE GOVERNANCE AND AN ACCOUNTING SCANDAL By Abe de Jong‚ Douglas V. DeJong‚ Gerard Mertens‚ Peter Roosenboom March 2005 ISSN 0924-7815 Royal Ahold: A Failure of Corporate Governance and an Accounting Scandal Abe de Jong* Department of Financial Management Erasmus University Rotterdam a.jong@fbk.eur.nl Douglas V. DeJong Tippie College of Business University of Iowa douglas-dejong@uiowa.edu Gerard Mertens Department of Financial Management Erasmus
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The latest release of Hillary Clinton’s personal emails shines a new light on an old scandal that has received far to little press coverage over the years. More than 6 years after the January 2010 Earthquake‚ there is little to show for the two Billion Dollars that have been poured into “reconstructing” Haiti‚ most of the money having disappeared into fraud and corruption scams closely associated with the Clinton Foundation. According to the nonpartisan Washington watchdog Judicial Watch‚ the
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by the United States Government The Office of Legal Counsel declares organ failure‚ impairment of bodily function‚ or even death torture punishable by law[4]. President George Bush and his administrators said that the Abu Ghraib torture Scandal was an “isolated incident uncharacteristic of US actions in Iraq[5]”. That was widely controversial‚ especially in Arab countries‚ but by the International Red Cross as well‚ which had been reporting abuse of the prisoners for over a year[6]. An
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