Top-Rated Free Essay
Preview

Case 26

Good Essays
527 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Case 26
CASE 26

1. The ethical pressure and dilemmas of the BP Oil spill stem from the severity of the situation and long term impact of this disaster. From a society aspect to the environmental hazards, everybody has been, and will be affected long term. The ethical issues in this case is the compensation to people who have suffered mental illness problems i.e. PTSD due to this spill. The determination of such claims, bogus or not have to be judged accordingly. The ideology of this being a long term psychological event without physical harm stirs opinions. The pressure of claiming that “you have to draw a line somewhere” becomes the topic of debate thus requiring the ultimate ethical decision making.

2. Stakeholders of the BP Oil spill are BP, Federal and State Government, Environmental agencies and or groups. Even the people who live off the land like fisherman. All impacted in different ways and different scales. Government officials have to determine fines, consequences and future of the impacted population. BP has to determine how to clean up the situation and keep their image and business from plummeting. Fishermen in turn have to deal with the effect economically. Their livelihood lies in limbo with no product, income and some cases sense of purpose. All of these stakeholder variables produce a whole ethical dilemma.

3. I do agree that a line needs to be drawn. The only thing I would use to support that is “we’ll be getting millions of claims from people watching television.” People would undoubtedly take advantage of the opportunity, which would neglect the credible claims. But there has to be a conscious effort to keeping claims consistent and credible.

4. I wholeheartedly disagree with Feinbergs expectation that there be a signature physical injury. I don’t think he’s in the position to make that assessment either. For example, we can do a study with Feinberg as our subject; we can completely destroy and take away all that he knows in his life without laying a finger on him. This in turn could prove our point, that emotional distress and trauma can be more damaging and unable to heal compared to any physical damage. They can be different entities.

5. No I do not believe his assessment of the place of mental health should apply to states and municipalities. They are competent enough and have the resources to provide the necessary depth to make their own assessment. They have to right to hear Feinberg our and respect his assessment.

6. If I were responsible for the validity of claims, physical or emotionally id surround myself with the proper resources. I’d strongly consider bringing in professional psychiatrists. I would also assemble a counseling team that would asses every party affected. Even reaching out to folks who aren’t able to make claims and who need assistance in whatever occurrence. My drive and strength of reason for my actions would be the dignity and fortitude to protect the livelihood and rights of the people, community, and environment affected. I would drive the idea to not only recover from this disaster but learn educate and become better because of it.

You May Also Find These Documents Helpful

  • Good Essays

    case 12

    • 1909 Words
    • 5 Pages

    Shakespeare Inc., a private publishing company issued its F/S on March 20, 2012. There were several accruals and events that the management of Shakespeare is considering to determine if they should be recognized or disclosed in Dec 31, 2011 F/S. In my opinion, the important things to focus on subsequent events are the period they effect and if their influence is material or not, so that in conclusion, the F/S are fairly presented.…

    • 1909 Words
    • 5 Pages
    Good Essays
  • Good Essays

    case 3-30

    • 281 Words
    • 2 Pages

    Shaving 5% off the estimated direct labor hours in the base for the predetermined overhead rate will falsely produce a high overhead rate, which will result in over applied overhead. Thus, inflating the cost of goods sold until year end, and overstating the inventories. The over applied overhead will be recognized at year end by closing it to cost of goods sold. The adjustment for the over applied overhead will result in a big boost in net operating income at year end.…

    • 281 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Case 4

    • 931 Words
    • 4 Pages

    The purpose of the memo is to communicate to you the outcome of the company’s control risk, the test of controls and substantive tests of transactions.…

    • 931 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Case 11-4

    • 1095 Words
    • 5 Pages

    Sparkle Company is a Nigerian diamond mining company. Sparkle is a joint venture, 50 percent owned by Shine and 50 percent owned by Brighten. Both Shine and Brighten are U.S.-based companies with their functional currency being the American dollar. Sparkle Companies functional currency is that of Nigeria, being the Naira. During 2009, Sparkle had several transactions with its joint venture owners and outside parties. The details of Sparkle’s transactions are three loans, three expenditures, and one revenue stream. The loans the company took out were $1 million from Brighten, $1 million from Shine, and 300 million Naira from a local Nigerian bank. The expenditures for 2009 included 850 million Naira on local labor, 75 million Naira on operating expenses, and $15 million on machinery. The revenue streams for the current period for Sparkle are $35 million in sales within the United States, which equals 80 percent of total sales. According to the joint venture agreement, all sales proceeds are retained by Sparkle as long as control is equally divided between Shine and Brighten. Direct sales transactions with Shine and Brighten are considered to be relatively small.…

    • 1095 Words
    • 5 Pages
    Powerful Essays
  • Good Essays

    Case 14 09

    • 1210 Words
    • 5 Pages

    OTT held notes of Beary Beary with an amortized cost of $95 and a fair value of $88 on Dec. 31, 20X1. OTT’s investment committee established a policy requiring the sale of this security when the fair value declines below $90.…

    • 1210 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    case 4

    • 513 Words
    • 3 Pages

    MEDICATIONS: Prednisone 7.5 mg Po daily, estradiol 0.5 mg Po QAM, Mobic 7.5 mg Po daily recently discontinued because of questionable allergic reaction, HCTZ 25 mg Po every other day, and oral calcium supplements, in the past she has been on penicillamine, azathioprine, and hydroxychloroquine but she has not had azulfidine, cyclophosphamide, or chlorambucil.…

    • 513 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Unit37 D1

    • 747 Words
    • 3 Pages

    In this report I will be explain and evaluating the impact of the BP oil spill to their stakeholders.…

    • 747 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Case 4

    • 263 Words
    • 2 Pages

    Case 4: Aaron Jones, CPA, is auditing the current year’s financial statements of Low Company, a publicly traded company. Aaron notices some major fluctuations in Low’s fourth quarter of the previous year’s financial statement balances. He is aware that security holders of publicly traded company stock that does not separately report fourth quarter results often “impute” such results by subtracting data based on third quarter interim balances from the year-end balances. Thus, companies should report such significant events as disposals of segments and other unusual items for that quarter as a note to the annual financial statements. Aaron notices that Low makes such disclosures, but is unsure if his firm should audit these additional, supplementary disclosures.…

    • 263 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Case 1

    • 593 Words
    • 3 Pages

    I felt the case discussion and summary was well done. It included the majority of the essential components of the case and the facts were summarized in a very organized fashion. The one item I did not find in the summary and the discussion is the final results of the case. After reading the summary it would have been helpful to include a summary of findings from the 600 page audit committee report submitted to the SEC . I would have also like to have known more about the BDO circumstances and charges they faced as the blame centered on them initially (Accounting Today, 1993)…

    • 593 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Case 1

    • 961 Words
    • 3 Pages

    1. Arthur Young was criticized for not encouraging Lincoln to invoke the substance-over-form principle when accounting for its large real estate transactions. Briefly describe the substance over form concept and exactly what it requires. What responsibility, if any, do auditors have when a client violates this principle?…

    • 961 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Ethical Study Worksheet

    • 478 Words
    • 2 Pages

    |Identify each claimant (key actor) who has an interest in the outcome of this ethical issue. From the perspective of the moral |…

    • 478 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    There are various ethical issues, which BP needs to consider in its operations. These are as follow…

    • 3247 Words
    • 13 Pages
    Powerful Essays
  • Satisfactory Essays

    Case 1

    • 274 Words
    • 1 Page

    1. Is Parker's speech development appropriate for his age? Explain? His speech is not developmentally appropriate because children that are nearing 2 years of age should be able to speak up to 50 words and be somewhat understandable on all words.…

    • 274 Words
    • 1 Page
    Satisfactory Essays
  • Good Essays

    Case 30

    • 701 Words
    • 3 Pages

    Was the Whirlpool plant closing just another “business decision,” or did it carry with it social and ethical responsibilities and implications? Explain…

    • 701 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    This paper will explain some of the effects of three legal issues and three ethical issues surrounding the London-based British Petroleum Company’s involvement in the explosion of the offshore oil rig Deepwater Horizon and the subsequent oil spill into the Gulf of Mexico. There are many legal issues surrounding this disaster, but the three this paper will focus on are the Oil Pollution Act of 1990, maritime laws, and criminal charges that may be brought against BP executives. The ethical issues explored will be who is responsible for deaths due to the Deepwater Horizon explosion, who is responsible for the oil cleanup, and who is required to compensate the people whose livelihood has been put in jeopardy.…

    • 1526 Words
    • 7 Pages
    Powerful Essays

Related Topics