Background Information This report details the rise and collapse of WorldCom Group: this telecommunication giant employed 60‚000 individuals and had over $104 billion in assets. However‚ most numbers were deliberately misstated in order to maximize income and survive in the global stock market. WorldCom dates back to 1983 when in split up from AT&T to create a separate entity in order to take over the Southern states telecommunication markets. WorldCom focused on providing Long Distance Discount
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in the competitive long-distance telephone industry. It was headquartered in Washington‚ D.C.[1] Founded in 1963‚ it grew to be the second-largest long-distance provider in the U.S. It was purchased by WorldCom in 1998 and became MCI WorldCom‚ with the name afterwards being shortened to WorldCom in 2000. WorldCom’s financial scandals and bankruptcy led that company to change its name in 2003 to MCI Inc.. The MCI name disappeared in January 2006 after the company was bought by Verizon. As of May
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FAR600 CASE STUDY WORLDCOM QUESTION 1 a) Discuss the earnings management technique employed by the management of World Com. WorldCom admitted that the company had classified over $3.8 billion in payments for line costs as capital expenditures rather than current expenses. Line costs are what WorldCom pays other companies for using their communications networks; they consist principally of access fees and transport charges for messages for WorldCom customers. Reportedly‚ $3
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whether or not their past actions and criminal convictions will bar them from even being considered for employment. The sensitive topic that worries so many people is background checks. Should they be used for employment purposes? The Equal Employment Opportunity Commission has been working towards proving that‚ in some instances‚ background checks can create a disparate impact on minorities. Disparate impact can happen in the hiring process when neutral policies affecting hiring can adversely impact
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How Can we Prevent Mass Shootings Columbine‚ Sandy Hook‚ and Virginia Tech‚ all have something in common. When you hear these‚ you probably think “mass shooting.” You may even remember where you were when you heard the news‚ or‚ when you were told the story. Many people claim that guns are not the issue and mental issues are the only reason these tragedies occur. However‚ when you take an unstable person with psychological issues and combine that with a weapon‚ the outcome cannot be anything short
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How can managers promote innovation unwelcome surprises? Control in an Age oj by Robert Simons A fundamental problem facing managers in the 1990s is how to exercise adequate control in organizations that demand flexibility‚ innovation‚ and creativity. Competitive businesses with demanding and informed customers must rely on employee initiative to seek out opportunities and respond to customers’ needs. But pursuing some opportunities can expose businesses to excessive risk or invite behaviors
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INTRODUCTION : • Who invented the computer? • What is computer? • How did the computer evolve? • Where did it start? Charles Babbage‚ a British professor mathematics is the man who invented the first computer in 1837. It was basically an mechanical type of calculator that also had a memory. The computer was powered by steam engine and used punched cards for programming. A computer is a general purpose device that can be programmed to carry out a set of arithmetic or logical
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At times‚ the selection process can be long and tedious. However‚ to ensure the proper selection of candidates it is important the following steps are followed: screening of applications and resumes‚ testing‚ interviews‚ checking references and background‚ and finally making a selection. I am currently employed with Liberty Bank located in Alton‚ Illinois. Liberty Bank is a small community bank with four branches and approximately 80 employees. We have one human resource person‚ Sheree Walker
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and the tactics and behaviors that would ultimately lead to the downfall and closure of the company. One of the most famous was Enron‚ but another well known failure was that of WorldCom. WorldCom was a big player in the telecommunications industry‚ being the largest telecom carrier of Internet traffic. In 2002‚ WorldCom joined the ranks of failed companies mostly because of the tactics that management and its accountants used to show that the company was earning more money than it was. This was
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Management Planning Paper Vernita M. Blacksher Introduction: We will be evaluating the planning function of the upper level management of the Company formerly called WorldCom. We will look at some of the actions taken by upper level management‚ their decision making and what actions were taken to achieve short-term goals. We will be analyzing the influence legal issues‚ corporate social responsibility‚ and ethics had on WorldCom’s management planning
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