United States. The former CEO Bernard Ebbers was sentenced to twenty five years in prison due to increasing revenue the wrong way to increase earnings. This company had the largest bankruptcy filing in the United States. Today‚ the Worldcom accounting scandal is known as one of the worst corporate white collar crimes in history. What were some psychological factors that led to this crime? Financial Pressures from competitors and absolute greed are usually the main causes of white collar crime
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considered to be one of the foremost natural gas conglomerate companies‚ the mention of the name ENRON in current times is commonly associated with a financial scandal involving the company. This scandal‚ also known as the ‘ENRON Scandal’ gained a vast amount of media coverage on both domestic and international levels; in addition‚ the ENRON scandal resulted in the bankruptcy of the company‚ the criminal prosecution of a number of executives‚ and an loss of upwards of $2 billion with regard to investors
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Enron investors to predict a companys future economic success. In conclusion‚ Enron‚ WorldCom and other financial scandals have brought more awareness to investors... Premium The Unethical Business In The Telecommunication Industry The overcharging behaviour of AT&T Recommendations for telecommunication industry Conclusion Findings WorldCom WorldCom‚ The Americas second-biggest long... Premium Miss of technology and business markets/trends. The conclusion of the need for preventative measures
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Case analysis on Lucent Technologies: Global Supply Chain Management By‚ ROOPANVI DANDU Lucent Technologies: Global Supply Chain Management Lucent technologies are a manufacturing company that was a part of American Telephone and Telegraph Corporation (AT&T) until 1996. Lucent’s main product was the 5ESS switch. The switch was worlds most reliable and widely used switching system. Prior to 1996 the Asian supply chain has not been a high priority. The demand for Asian joint ventures
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In 2003‚ Martha Stewart was facing prison time and her empire in domestic art was at risk because of “nine-count federal indictment” which she was charge will “perjury and conspiracy” because of a “high profile stock trading scandal” (Hurtado‚ N. P. (n.d.). James Comey‚ a U.S. Attorney‚ said that “she brought trouble on herself and her company by lying to her shareholders and investors in an attempt to cover her tracks and keep her stock from plummeting” (Hurtado‚ N. P. (n.d.). Comey believe that
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higher management however got no response. Instead of alerting the public or taking legal actions she simply accepted defeat and switched divisions in the company‚ ultimately allowing her to become Vice President. Had Watkins taken action early on the scandal would have not been able to develop in to what it had by 2000. 2. Sharron Watkins only voiced her concerns internally within Enron. Instead of alerting the public or legal authority‚ Sharron Watkins wrote an anonymous memo to C.E.O Kenneth
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After the expansion the company had doubled the revenues and had $100 million in assets. 17 years later the company had more the $4 million in revenue and had helped 100‚000 patients per day around the world. There were a total of about 60‚000 The scandal started about March of 2003 when the Securities and Exchange Commission filed a civil fraud charges against HealthSouth for lying about the companies earning targets. About a week later William Owens the Chief Financial Officer of HealthSouth pleads
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directly impacted—people in Los Angles are not interested in learning about a robbery in New York City. White-collar crimes‚ on the other hand‚ have the potential to cause a huge financial impact which can ripple throughout the world (Nobel‚ 2). Scandals like those caused by Bernie Madoff‚ Enron‚ Lehman Brothers and AIG are great examples. It is an unfortunate truth that the world of business has attached itself with a variety of negative connotations‚ one being white-collar crimes. The term white-collar
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expenses) In 1990‚ Don subjected accounting adjustment of decreasing of 2 mio doller‚ CEO denied In 1991 profit forecast has to be adjusted due to false profit projection 1. Was Don Russell a good controller for Cook and Spector‚ Inc.? Why or why not? Strengths Weaknesses tried to raise concern about the problem with the CEO Modernized the accounting system cost reductions were realized Allowed the possibility for accounting fraud by modernizing the accounting system Did’nt inform top-management
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In 1982‚ Phar-Mor chain of discount drug stores founded by Michael “mickey” Monus and David shapira in the United States. Phar-Mor business was to sell large quantity of merchandise with a very small profits margin. Instead‚ they had it set up were the products can get send direct delivery or shipped though Tamco Warehouse. Sam Walton was feared of Monus because he didn’t know how the Phar-Mor grew in short time. In 1992‚ the company expanded‚ it was 300 stores and they hire 25‚000 employees. Monus
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