What went wrong at AIG? Despite US$110 billion in annual sales and assets in excess of US$1 trillion‚ on the 16th of September 2008‚ AIG accepted the Federal Reserve’s US$85 billion rescue package in order to prevent itself from facing a Chapter 11 filing. In exchange‚ AIG had given a 79.9% stake in the company to the government and also the right to suspend dividends previously issued to common stock and preferred equity. In all‚ US$184 billion in shareholder value was wiped out in less than a
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Friedman: The purpose of a business is to maximize profits while adhering to law and ethics. Primarily‚ this argumentation is based on the notion that corporations‚ as legal persons‚ cannot have responsibilities like natural persons. Secondary‚ Friedman’s argumentation is based on the principle of ownership and employment. By not complying with the duty of serving the owners’ interest (maximum profit)‚ a manager would allocate resources artificially and arbitrarily. This spending would be unjust
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The world does not operate in black and white‚ but in shades of gray‚ just like Abraham Lincoln’s presidency. Lincoln was a great president who did what he thought was best during a critical time in the United States. Abraham Lincoln was the 16th president of the United States of America. He was also the president when the very foundation of the United States was in jeopardy. When he became president the nation was on the brink of falling apart. Lincoln had the task of uniting the country and even
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Milton Snavely Hershey created a worldwide phenomenon‚ which started in the heart of Philadelphia. It all started when Milton Hershey was born on September 13‚ 1857 in Derry Township‚ Pennsylvania. Hershey was parented by Veronica “Fanny” Snavely‚ and Henry Hershey. They had other children together‚ but Milton Hershey was the only surviving child. Being the only child‚ Hershey was pushed by his parents‚ who separated in 1867. So he dropped out of school at age 13‚ to apprentice an expert at age
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In The World is Flat by Thomas Friedman‚ he divides globalization into three different eras‚ our current era involves individuals competing globally for jobs and power. Our world is only getting more competitive and making the world “flat” as Friedman describes. Meaning the world is now a level playing field for all countries to compete for the most power and success. As diverse as the Yakima Valley is‚ students should be encouraged to attend vocational/tech schools despite the stigma it comes with
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Milton Friedman’s Goal of the Firm Milton Friedman’s Goal of the Firm BA 540 Abstract This paper is written in order to discuss Milton Friedman’s Goal of the Firm. It will discuss it’s relevancy as it applies to understanding the purpose of a business in society. It will also converse whether or not government and society has a place in expanding the Friedman Discussion. Milton Friedman Goal of the Firm Milton Friedman argued that a business’s only goal is to generate shareholder
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You are carrying your severely injured fiancé while trying to get out of a burning and collapsing building. You know that time is limited and only a few minutes remain before the building will be completely destroyed. All of a sudden‚ you hear cries for help from a room that is blocked by fallen debris. Through a slit of the cracks‚ you see an injured man shielding a baby and a young girl (who you assume is his). When you look at the man’s face you recognize him as the man who you strongly believe
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Lost‚ it is plain to see it is a fine example of epic poetry. For the most part‚ John Milton follows the three main guidelines that construct an epic poem. By beginning in a formal way‚ having supernatural warfare‚ and engaging a character in a dark voyage‚ John Milton clearly uses classical epic characteristics. In traditional epic poetry‚ the poet asks a muse to speak through him. In the very beginning‚ Milton invokes a muse to inspire and instruct him. "I thence invoke thy aid to my adventurous
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Friedman Versus Drucker According to Peter Drucker’s‚ what is "business ethics"? Published in The Public Interest‚ he noted and addressed the moralist by stating. “To the moralist of the Western tradition "business ethics" would make no sense. Indeed‚ the very term would to him be most objectionable‚ and reeking of moral laxity. The authorities on ethics disagreed‚ of course‚ on what constitutes the grounds of morality--whether they are divine‚ human nature‚ or the needs of society”(Drucker‚
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The Bermuda Triangle is where human influence can get you killed‚ is where the worlds most dangerous weather patterns call home and has the history to prove its terrifying reputation makings it natures paranormal killing machine. Human acts is what triumphs the list of ways to die in the Bermuda Triangle. There has been different examples of this throughout history whether it was deliberate or accidental. The accidental errors are loss of communication or over confidence‚ and many other poor
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