it and player salaries are no exception. Teams of different sport like basketball‚ baseball‚ soccer and football spend a lot of money on their players which is ridiculous not just for the fact that they paying that amount of money but the fact that millions of money which can be minimize are being paid to a player that if he decide not to play‚ no one will harm player‚ which brings me to saying that reduce the ability of the richest teams to bid up the price of players and‚ salaries are sure to fall
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Introduce the case facts In 22 April 2010‚ News from The Age claimed that the Melbourne Storm rugby league club was involved in a long term salary-cap breach scandal. "They had a long term system of effectively two sets of books and the elaborate lengths they have gone through to cover this up has been extraordinary‚" said NRL chief David Gallop (2003). It was disclosed that the Storm had been paid $1.7 million to their players for the past five years and including roughly about $700‚000 in
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Topic: An analysis of the ethics of the Melbourne Storm NRL Club’s salary cap breaches Section 1 The purpose of this essay is to analyse the ethics of the Melbourne Storm NRL Club’s salary breach with reference to the management literature on business ethics. This essay will look at three separate articles discussing business ethics and then link the information found on ethical decision making towards the Melbourne Storm salary breach scandal. The first article will discuss networking and its link
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with Financial and Ethical Risks at American International Group (AIG). Abstract American International Group‚ Inc. (AIG) reported bogus transactions that hid losses and inflated its net worth. AIG inflated reserve funds that were to be used for paying claims by millions of dollars and that AIG’s CEO Maurice Greenberg repeatedly directed AIG traders late in the day to buy AIG shares to prop up its price. However‚ aside from AIG’s corporate financial reporting errors or outright fraud‚ the
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The Salary Cap Ever since the beginning of baseball‚ the salaries of the players have continued to rise. Some teams are being left further and further behind because they cannot pay the huge amounts that big name players demand. In the past twenty years‚ we have seen the increased need for a salary cap. With a salary cap‚ more teams would be able to compete with the more financially inclined franchises. If more teams can compete for titles‚ then they will be more entertaining and more people
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Coping with Financial and Ethical Risks at American International Group (AIG) 1. Discuss the role that AIG’s corporate culture played in its downfall. The corporate ethical culture at AIG was far from a good one. The corporate culture focused on high risk taking schemes that were only there to focus mostly on short-term financial gain. The AIG Financial Products unit specialized in derivatives and other complex financial contracts that were tied to subprime mortgages or commodities. While its
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Salary caps are used in all pro sports and can impact any team. Caps are imposed limits on the money a team can spend on their players salaries. Salaries in pro sports are becoming out of control and reaching 100 million dollars. Teams are becoming unbalanced and are losing profits. Salary caps should be used in pro sports. Did you know that Michael Vick now makes nearly 100 million dollars a year? He is even making this much after missing over two years of football and being thrown in
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Seattle‚ Washington danryoung@netzero.net Presented the Spring Meeting of the CAS New Orleans‚ Louisiana May 6‚ 2009 The Story of the AIG Accounting Scandal The Companies The Participants Regulatory Scrutiny Intensifies The Prosecution Case The Defense Case Relevant Laws and Regulations The Fate of the Participants The Companies AIG Overview (2007) World’s largest insurance and financial services company 93‚000 employees Business in 130 countries
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The Need For a Cap "Major League Baseball has the least amount of revenues going to player payroll than any other sport‚ which is 52%. Compared to 56.7% in the NHL‚ 57% in the NBA‚ and 59% in the NFL." To some people this is proof that baseball doesn’t need a cap‚ but in reality Major League Baseball is becoming far too dominated by big market teams‚ and a salary cap should be put in place. The lack of a salary cap is simply bad for baseball. The Yankees‚ for example‚ buy all of the big-time
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The NBA is a great league because it offers the fans competition with the best players and teams around the world. It is believed that competition could be limited with the league’s salary cap. Others say it gives small market teams a chance to compete. Most importantly it creates revenue to allow an increase in salary cap and players contracts. The National Basketball Association is a big corporation. It offers the public competition at its best. The National Basketball Association or the NBA consist
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