These investments made with this money were supposed to be safe and low risk‚ which would also keep it in compliance with the standards set by JP Morgan Chase. Unfortunately‚ the transactions made in this area of the company were known as the Synthetic Credit Portfolio. This portfolio was a high risk portfolio that would either generate a large amount of profits or create massive losses overall. As a result‚ JP Morgan Chase had to face and handle the situation with massive losses. The losses were
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The Great Recession‚ as some would call it‚ has affected myself and my family greatly. Before the stock market collapse in December on 2007‚ I never paid any attention to the stock market. I saw numbers going up and down on the news‚ but never understood the implications it truly would have. In 2006 my grandfather purchased a tool company in Dayton‚ the company had long term lucrative government contracts‚ all it needed was capital and it would run its self. My grandfather was a person who couldn’t
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The results of coal mining are destroying the environment. Regulators are trying their best to get coal mining companies to put money aside to clean up the devastating mess they have made‚ so that the tax payers do not have an outrageous $1 billion bill to pay. Many companies claim that their cleanup plans are well funded‚ but many believe this to be false because the demand for coal is low and many companies still remain bankrupt. The biggest problem is with the business Alpha Natural Resources
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In 1979‚ between the first and second years of his MBA program‚ O’Leary applied to a number of companies for a summer placement. Softkey products typically consisted of software for home audiences‚ especially compilation discs containing various games packaged in "Jewel-case" CD-ROMs. Due to this success‚ O’Leary abandoned his initial distribution strategy and turned to something more cost-effective; licensing software and marketing it under the SoftKey brand. O’Leary was an aggressive promoter of
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Growing ups Selma Alabama‚ Richard Scrushy like any normal teenager found him self thinking about a better opportunity and life for him and his wife. After graduating from University of Alabama‚ Scrushy started from an entry level position‚ to owning his own company called HeathSouth‚ INC. By 2001 HealthSouth had more then 4.3 billion and 100‚000 patients a day. But all good thing come to end‚ when Scrushy found himself in schooled that put his career to end. In the 1990s‚ Scrushy company
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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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ADM 4342M Accounting Theory Mid-Term Exam February 4‚ 2009 Instructor: B. La Rochelle‚ Ph.D.‚ C.A. Duration: 2 hours Value: 25% of your final grade Note to students: This is a closed-book exam‚ containing 3 questions‚ worth 30 marks in total. Apart from sundry writing materials (pens‚ pencils and the like)‚ no examination aids are permitted NAME: __________________________________________ STUDENT #: ________________________ Statement of Academic Integrity The School
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This story begins with a former back office clerk being promoted to a derivatives trader for Barings Bank’s Singapore Branch and ends with the collapse of a 232-year old banking empire. As we began researching this assignment‚ we all asked the same question‚ "How does a 28 year old trader bring about the collapse of a 232-year old banking empire?" To understand how this debacle came about‚ one must have a basic understanding of the nature of a derivative and what they are designed to do. Initially
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“What is Jonathan doing these days with Rose Dreason? I believe she’s the owner of Tucson enterprises Arizona.” Eva shrugged her shoulders‚ “No clue‚ might be trying to recover something‚ as he’s just got robbed of a million dollars today.” “What do you mean?” “I just claimed my settlement from him.” “O...Ok! So you’re in Philadelphia now is it?” “I work there” “I guess I have forgotten to look at the watch‚ it’s nearing five-thirty and I have a flight home at seven. Nice to meet you Vivian
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The British-Australian mining company Rio Tinto and two of its former executives have been charged for hiding losses and inflating the value of African coal assets. The company bought the Mozambique assets in 2011 for 3.7 billion and sold it later for only 50 million. Despite these charges‚ the company won’t back down and will fight the charges. This comes at a time where coal energy is colliding with new forms of energy and many companies are starting to fight to stay relevant and keep coal as the
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