RETIRING of an AMERICAN FLAG The flag of the United States of America is an honored symbol of our nation’s unity‚ it’s hopes‚ it’s achievements‚ it’s glory and it’s high resolve. When the flag is in such condition‚ through wear or damage‚ that it is no longer a fitting emblem for display‚ it shall be destroyed in a dignified manner befitting such a symbol. The traditional way is to cut the flag into pieces and burn it in a modest but blazing fire. As we perform this respected duty
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an American flag is something that is deemed disgraceful by many Americans‚ but it should not be outlawed. Many people are offended by the act of publicly burning an American flag and feel it should be outlawed based on the fact that it is offensive to the citizens of this country. Although this may be true‚ people still have the right to protest. This was upheld in a Supreme Court case Texas v. Johnson‚ where the defendant Mr. Johnson was arrested for publicly burning a flag outside the
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RM530 million Transmile accounting fraud – how Liong Sik is to assume responsibility as Chairman? Former MCA President and Cabinet Minister‚ Tun Dr. Ling Liong Sik was quite active in the past month‚ as a search with The Star archives would produce eight news items featuring him‚ including one today at the ceremony at the Universiti Tunku Abdul Rahman (Utar) campus in Kampar yesterday planting a Blue Pine tree. But he has been very reticent on what has been described as the biggest accounting and
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The Enron Scandal One of the most popular business bankruptcies and collapses known to date is that of the Enron Corporation. Enron‚ once known as "America ’s Most Innovative Company" by Fortune Magazine six straight years from 1996 to 2001. Enron seemed to be doing very well until the summer of 2001 generating a lot of cash and new businesses‚ but in October of 2001 Enron was forced to disclose that their accounting practices had been very creative‚ and failed to follow generally accepted accounting
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Enron scandal Enron shocked the world from being “America’s most innovative company” to America’s biggest corporate bankruptcy at its time. At its peak‚ Enron was America’s seventh largest corporation.From the 1990’s until the fall of 2001‚ Enron was famous throughout the business world and was known as an innovator‚ technology powerhouse‚ and a corporation with no fear. The sudden fall of Enron in the end of 2001 shattered not just the business world but also the lives of their employees. Enron
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in this case: how did Enron lose both its economical and ethical status? This question makes the Enron case interesting to us as business ethicists. Enron ethics means that business ethics is a question of organizational "deep" culture rather than of cultural artifacts like ethics codes‚ ethics officers and the like. BackgroundAt the beginning Enron faced a number of financially difficulty years. In 1988‚ the deregulation of the electrical power market took effect and Enron redefined its business
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Accounting Fraud: A White Collar Crime Accounting Fraud: A White Collar Crime The CEO and CFO of a Swiss security systems company named Tyco‚ stole 150 million dollars from their company before being caught in 2002. At the height of the scandal‚ the CEO threw a 2 million dollar birthday party for his wife on a private island with guest performer Jimmy Buffet. After being caught‚ the CEO and CFO were sentenced to 8-25 years in prison and Tyco had to repay its investors 2.92 billion dollars (The
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Business Ethics Movie Summary Enron: The Smartest Guys in the Room The movie starts with a man named Kenneth Lay‚ he founded Enron. The idea of the film is a documentary of how Enron was managed‚ and by who it was managed‚ and what scandals they were up too. The name of the movie “ Smartest guys in the room” was given because it was not only Kenneth Lay behind the desk‚ he had a group of smart people managing Enron‚ one man by himself cannot manage to create a scheme‚ he needs help from a
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Enron and Ethics Failure is the best teacher not only for those who fail‚ but also for those who observe the failure. Thus‚ for many businesses the Enron scandal proved to be the greatest teacher. Since the fall of Enron‚ there have been several theories and examinations about why it failed as it was a corporation that no one imagined would ever crash. Based on research to date there are multiple reasons for Enron’s failure; however‚ one that stands out immensely is corporate disregard for ethics
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ENRON: A FINANCIAL REPORTING FAILURE? Anthony H. Catanach Jr.1 Associate Professor 610-519-4825 anthony.catanach@villanova.edu and Shelley Rhoades-Catanach Associate Professor Both at Villanova University College of Commerce and Finance Department of Accountancy INTRODUCTION The dramatic collapse of Enron Corporation‚ following a series of disclosures of accounting improprieties‚ has led many to question the soundness of current accounting and financial reporting standards. Within Enron’s reported
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