Bernie Liu‚ an architect by profession‚ is an entrepreneur at heart with a dream and a vision. In 1986‚ right after the People Power Revolution‚ Bernie together with close friends from college and supported by his family who were then garments manufacturers‚ conceptualized‚ produced and marketed an initial product line of one-sized T-shirts with catchy prints–all targeted at the youth market. And so Penshoppe was born! Today‚ the merchandise mix of Penshoppe‚ the anchor brand of Golden ABC
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MADOFF ANSWERS IN WORD FORMAT Question 1: Research recent developments involving this case? More than1‚000 civil lawsuits have been filed Statute of limitations is running out 15 people have been criminally charged 9 people have plead guilty $9.3 billion has been recovered JP Morgan offers to settle Ultimate sacrifice…family Question 2: Suppose that a large investment firm had approximately 10 percent of its total assets invested in funds managed by Madoff Securities. What audit procedures
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A Review of Bernie Ebbers and His Leadership Bernie Ebbers had an amazing rise to power followed by a catastrophic fall. Early in his rise many saw him as a great leader. TIME magazine described Bernie during that time as “It was Ebbers who gave LDDS its mojo --and a mission to democratize U.S. long-distance service. ” (Padgett & Jackson‚ 2002). His charism and aggressive business made him a leader that many wanted to follow. Eventually he was seen very differently‚ during his trial one writer
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Research Paper Bernie Madoff’s Ponzy Scheme Contemporary Business Ethics Contemporary Business Ethics Contemporary Business Ethics June 16‚ 2012 Table of Contents Ethical issues involved……………………………………………………………..3 Relevant facts……………………………………………………………………….4 Fairness to all concerned……………………………………………………………5 Impact on society……………………………………………………………………5 Impact to related industries………………………………………………………….6 Impact to the stakeholders…………………………………………………………
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Enron: The Smartest Guys in the Room Importance of Accounting Accounting is important because it manages the checkbooks of company which are important to analyses and determine the success of the business by looking through the different account statements and translating the company documents. An accountant or accounting firm starts and maintains auditing of a company. Accounting is also important because it offers a great assistance in planning the future investments as well as being able
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Enron and WorldCom FIN/486 December 22‚ 2014 Enron and WorldCom In 1998‚ Waste Management executives acknowledged earnings misstatements of approximately $1.7 billion. With the help of the Arthur Anderson accounting firm‚ Waste Management shareholders lost more than $6 billion dollars (CNN‚ 2001). The Waste Management corruption ushered in a series of corporate scandals into the new millennium. Enron and WorldCom were only two of many ethical and accounting violations that prompted new legislation
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(170). Madoff was charged with securities fraud‚ investment advisor fraud‚ mail fraud‚ and wire fraud after confessing to stealing more than $50 million dollars from people over the course of decades. After the stock market collapse of 2008 it became apparent to Madoff that he would not be able to repay the money clients believed they had invested and he confessed that he never bought or sold a single stock. He simply deposited the invested money into his own account. Furthermore‚ Bernie Madoff
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Based in Houston‚ Texas an American energy‚ commodities‚ and services company named ENRON CORPORATION was Ranked number 7 on the fortune 500 list in 2000‚ it was one of the most famous and largest integrated natural gas and electricity companies in the world. The company went bankruptcy on December 2‚ 2001. But before that it marketed natural gas liquids around the world and was working as one of the biggest natural gas transmission systems in the world‚ with transmissions over a massive area of
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From the Desk of: Imran Omer Case Study: WorldCom From its beginnings as a long distance call player to handler of Internet data traffic‚ WorldCom was a spectacular firework in the sky before it crashed out as one of the biggest bankruptcies America has witnessed in its corporate history. WorldCom carried more international voice traffic than any other company. It carried a large amount of the world‟s Internet traffic. WorldCom owned and operated a global IP (Internet Protocol) backbone that
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Bernard Madoff Bernard Lawrence Madoff was on April 29‚ 1938‚ in New York City‚ he earned his bachelor’s degree in political science from Hofstra; he started studying law at Brooklyn Law School‚ but quit later to begin his own investment firm. Using the $5‚000 he earned from his summer jobs‚ Madoff and his wife founded Bernard L. Madoff Investment Securities‚ LLC. As the business expanded Madoff’s fame as a successful investor grew‚ Madoff’s Securities began using computer technology to develop
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