allow management to operate their businesses to further their own personal self-interests instead of increasing the shareholders’ values. The three cases that I believe illustrates the most ineffective corporate governance system include: Nortel‚ Adelphia‚ and Tyco. Nortel Networks’ ineffective corporate governance system stemmed off of the management’s use of earnings management in order to achieve internal targets. Nortel stated that they intended to restate about $900 million of liabilities
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com/PublicBlog/tabid/54/BlogDate/2007-08-31/Default.aspx Commisssion‚ U Dalal‚ S. (2003‚ June 9th). Lobying Against the Big Four. Retrieved June 18th‚ 2008‚ from http://www.financialexpress.com/news/Lobbying-Against-The-Big-Four/80437/0 Deloitte pays $50 million in SEC settlement over Adelphia audit DiLorenzo‚ T. J. (April‚ 2002). The ree Market. Retrieved June 18th‚ 2008‚ from The Mises Institute monthly: http://mises.org/freemarket_detail.aspx?control=395 Ex-consultant pleads guilty in KPMG tax fraud case NEWS‚ F. (2008). FOX News Documentary
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White Collar Crime White collar crime is prevalent and brought to our attention more and more by the media since the mid to late 1990s. With the downfall of companies such as Enron‚ Tyco Toys and WorldCom MCI white collar criminals are facing lengthy prison sentences. Greed and personal vendettas are what have led our country to understand and gain more knowledge about these corporations and the corrupt CEOs that have brought them to their demise. “White collar crime is defined as various crimes
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accurately spell out the terms of an agreement‚ disagreements and frustration can lead to project delays and unsatisfactory outcomes‚ or worse yet‚ law suits can plague a project. We see this all the time in the news. For example: In the small town of Adelphia‚ Ohio‚ a dispute between a sewer contractor and the city erupted when the contractor developing a sewer system for the
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Brief #2: Current Ethical Issues of Greed in Business World Today I. Summation a. The profession of accounting has been given a negative image as a result of unethical decision making in major U.S. companies like Enron‚ Tyco and Adelphia. The Institute of Management Accountants has created “Standards of Ethical Conduct” which demonstrate how ethical behavior should be practiced by professionals. By examining past ethical breaches‚ a strategy can be developed that can help deter unethical
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MGMT E 2720 Mergers and Acquisitions Supplemental Case Questions 1. The New York Times a. Why is there so much family control in the newspaper business? b. How did the Sulzberger family manage to retain control on the NYT after it went public? c. How does the NYT dual class structure differ from the one used by Dow Jones‚ prior to its takeover by Rupert Murdoch? d. What explains the behavior of the NYT institutional shareholders – not just Morgan Stanley but also
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Executive Memo Cox Communications‚ Inc.‚ 1999 Introduction: Mr. Clement‚ congratulations on this opportunity to strengthen Cox’s place in the cable market. The Gannett acquisition will certainly benefit Cox and its shareholders. We at Professional Consulting Group (PCG) realize that you face a difficult decision working this new purchase into your existing plans for the next six months. With the proper funding plan‚ whether it be issuing
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Research Paper – Accountant Responsibility Introduction Accounting by definition is “The bookkeeping methods involved in making a financial record of business transactions and in the preparation of statements concerning the assets‚ liabilities‚ and operating results of a business” (The American Heritage). An accountant’s responsibility is not something that is equally split or separated by category. It is not something that can be defined easily or without a lot of research and thought. An accountant
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their own management style and become better leaders. The idea for this research project came from an increased need to determine what traits and skills were found in successful managers. Obvious case examples are those of Enron‚ Worldcom‚ and Adelphia‚ but there are many other managers and CEO’s that let their companies suffer and fail just from their lack of devotion to their respective companies. Research In today’s business environment‚ there are many types of organizations and leaders
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leading the company into a $9.2 billion bankruptcy. Grant Thornton‚ the auditor at the time of the events‚ was replaced by Deloitte & Touche Tohmatsu‚ claiming to be a victim of deceit in the Parmalat audit scandals. ii. Adelphia (2002) - Deloitte & Touche Tohmatsu Adelphia Communications was under Pennsylvania and New York federal grand jury‚ and SEC investigations for making off-balance-sheet loans‚ amounting to $3.1 billion‚ to the founders and former Chief Executive Officers (CEO) John Rigas
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