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UNIVERSITY OF PHOENIX
DATE: April 20, 2015
TO: Michael Carrozzo
FROM: Tennile Massey
RE: Meyerhoff, A. (2008). Road kill on the deregulation highway. Los Angeles Times. Retrieved from http://articles.latimes.com/2008/jan/14/opinion/oe-meyerhoff14 Melvin, S. P. (2011). The legal environment of business: A managerial approach: Theory to practice. New York, NY: McGraw-Hill/Irwin.
Changes in regulation often are more of a benefit to corporations than they are to customers and it has been that way for many years. Corporate deregulation has changed over and over because different Presidents in office. Because of this, some laws have been altered or eliminated so that deregulation could override government regulation. Deregulation relaxes laws so that the industry can self-regulate on the principle that it should be allowed to without government support or sanction. The devastation of Enron, WorldCom and the sub-prime market caused the passing of the Sarbanes-Oxley Act by Congress.
The legal issue in this article shows legal business problems due to the deregulation of mistakes that have transpired. These legal business issues include bankruptcy, fraud, lawsuits and ethical issues.
Legal issues such as those listed can and does feasibly damage consumer, employee and shareholder relations with the company. This can also prevent suppliers from providing the company services and goods because the status and perceived character the company will have because of these issues. Proceeds hurt from this type of harm to these delicate associations and causes harm the integrity of the business. The Sarbanes-Oxley Act (SOA) of 2002 places very severe consequences for violating any of its provisions. “For example, officers who certify required financial report filing knowing that the report is...
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