Cassie Angelucci 9/21/14 Crazy Eddie Fraud Case Eddie Antar came from a low rent neighborhood in Brooklyn from a family of merchants. Growing up poor he had dreams and aspirations of becoming a household name. At the age of 20 years old‚ Antar opened up his very first store‚ Crazy Eddie. Crazy Eddie was an electronics store that specialized in low prices and a party atmosphere. The business did very well in its startup years and began to grow. Not long after Antar opened up his first store‚ he
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SUMMARY Eddie Antar (Crazy Eddie) dominated the retail consumer electronics market in the New York City metropolitan area. By 1987‚Antar’s firm‚ Crazy Eddie ‚ Inc.‚ had 43 retail outlets‚ sales exceeding $350 million‚ and outstanding stock with a collective market value of $600 million. During his term as the company’s chief executive. Antar had personal gain of more than $70 million. The first step Crazy Eddie done in order to gain success was to expand his little store into many big consumer
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Eddie Antar‚ the CEO of the Crazy Eddie Discount Electronics Chain. In 1993 Eddie was convicted for an $80 million stock fraud and after that his business collapse. Before the company went public in 1984 Eddie and two brothers were accused of putting together a scheme and inflated the value of the company. In 1990 Mr. Antar was on the run because the government charged‚ off millions and they found him in June 1992 in Israel then they extradited back to the United States. When Antar was 45 years old
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Case 1.8 Crazy Eddie‚ Inc. Case Summary: At age of 16‚ in 1978‚ Eddie Antar opened Crazy Eddie Inc in New York City. This was an electronics store where leadership positions were assumed by family and relatives. Their excellent advertising techniques through radio and their cut rate prices allowed the company to become “transhipper”‚ selling goods to other electronic retailers in NYC area. Crazy Eddie Inc went public in 1986 in order to finance expansion program and in that year‚ it was
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1) The following table provides key financial ratios for Crazy Eddie during the period 1984-1987: | |1987 |1986 |1985 |1984 | |Current Ratio |2.41 |1.4 |1.56 |0.93 | |Quick Ratio |1.4 |0.6 |0.77 |0.15 | |Debt Ratio |0.68 |0.66 |0.64 |0.83 | |Debt-to-Equity |2.16
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Eddie Blinkov Lean On Me In the movie called Lean On Me‚ Joe Clark the principal uses methods to establish authority in the school and these are the ways he did that. Firstly‚ he comes off as a very strict and disrespectful man to establish dominance in the school with the teachers and students. An example of this is when he first came into the school and yelled at all the teachers for doing a bad job to educate the students. This shows that Joe really cares for these children and wants the teachers
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The red flags in Crazy Eddie’s financial statements that suggested the firm posed a higher-than- normal audit risk include cash balance‚ inventories‚ and accounts payable. There was a drastic increase in the cash balance in 1985 from the cash balance in 1984 and it dropped in 1986 and 1987. This suggest that company did not leave much cash to operate. Inventories on hand increased from 1984-1987. Inventory turnover ratio dropped from 4.50 in 1986 to 3.22 in 1987. Days to sell inventory increased
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Eddie Rose Analysis Paper The Independence of Eddie Rose starts in a house on Indian reservation. The very first things we get see is the destructive house hold that Eddie Rose‚ his mother Katherine Rose‚ and little sister Theia live in. It is early in the morning and Katherine has just finished yelling and kicking out her boyfriend Lenny Sharb. After which Eddie is left alone with his mother where they get into a bit of an argument and Katherine tries to kiss Eddie. Katherine upset that Eddie
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Eddie Bauer Analyzes High Value Customer Segments Marketing Plan Executive Summary In 1999 Eddie Bauer was a $2 billion apparel retailer‚ generating 25% of its revenue from its catalog operation and the remainder through its 600 stores. Eddie Bauer operated in the textile clothing industry in the United States‚ Canada‚ Japan‚ UK and Germany. The company sold causal and office wear clothing to men and women‚ which is what we will be focusing on. Moreover‚ they also had eyewear
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response to Leslie Morgan Steiner’s presentation‚ Leslie does not originally leave for the sake of love but this delusional love takes a sharp turn into isolation‚ intimidation‚ physical‚ emotional‚ and financial abuse. I have been fortunate enough to have read Leslie Morgan Steiner’s book “Crazy Love” and it provided me with a refined understanding of why victims of domestic violence stay. Not having experienced a domestic violent relationship myself‚ I was initially critically opinionated against
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