liability of the shareholders. However‚ under certain circumstances the corporate entity may be disregarded. This is also known as piercing the corporate veil and is the most frequent method for holding the shareholders liable for the acts of a corporation. Corporate officers‚ directors and controlling shareholders have a general fiduciary duty of loyalty and care which should govern all their corporate conduct. Unless they breach that duty by gross negligence or acts in bad faith‚ they usually will
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Analysis of case 1.4 Sunbeam: The Revenue Recognition Principle 1. Company history ← In April 1996‚ Sunbeam appointed Albert Dunlap as its CEO and chairman. ← Immediately‚ the CEO began replacing nearly all of the upper management team and led the company into aggressive corporate restructuring. ← As at end of March 1997‚ the company arranged special sales contract with the wholesaler provided that the wholesaler could return all of the merchandise‚ with Sunbeam
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As I expressed in my previous letter addressed to you in May 2017‚ Cives Corporation (“Cives”) had significant concerns at that time involving the manner in which Starr Indemnity and Liability Company (“Starr”) has taken a position in the above litigation that is adverse to Cives. As you are aware‚ Cives is one of the insureds afforded coverage and a committed defense under the CCIP policy that Starr issued to Lend Lease for the River Point project. Starr’s prior position as expressed in your April
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Organization‚ Location and Corporate Governance: The company which will be analyzed is TELUS corporation‚ the head office is located at 510 W. Georgia St‚ 23rd Floor‚ Vancouver‚ British Columbia‚ V6B 0M3. The chairman of the board of directors is R.H. (Dick) Auchinleck‚ the chief executive officer/president is Darren Entwistle‚ chief financial officer is Doug French. The corporate directors are Donald Woodley and John S. Lacey. Organizational Structure: TELUS provides a wide range of telecommunications
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To: Dan DiMicco From: McKensie Booth Subject: Strategic Management Date: 11/9/2010 Nucor Corporation Memo Response: Per your request I have analyzed Nucor Corporation and the steel industry. After performing both strategic and financial analysis I offer my recommendations. Executive Summary: Nucor Corporation was the most profitable steel producer in North America in both 2005 and 2006. It is regarded as a low-cost steel producer in the United States‚ and one of the most
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Company: In 1998‚ Lasik Vision Corporation was the first laser vision correction provider in North America to offer “affordable‚ value-pricing” and to promote it with direct-to-consumer advertising. At the time‚ this was a new approach for a medical services company and allowed it to capitalize on a larger mass appeal for the procedure. Dr. Wallerstein was the National Medical Director of LASIK Vision Corporation and oversaw medical standardization
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Case 1.1 - Enron Corporation ------------------------------------------------- Discussion 1 The parties we believe to be most at fault for the crisis in this case are a) the Audit Firm engaged in the Enron audit (Arthur Andersen); b) Enron Management (Kenneth Lay‚ Jeffrey Skilling‚ Andrew Fastow; and c) the SEC. The Public Accounting Firm: Arthur Andersen The auditor has the responsibility to evaluate the risk of material fraud‚ including: * Incentives and motives for fraud : Enron was a fast
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Reaction Essay: The Corporation The documentary The Corporation‚ directed by Jennifer Abbott and Mark Achbar and produced in 2004‚ although bias‚ opens many doors for discussion in regard to capitalism and the role of corporations in our lives. I found the documentary to be presented professionally‚ and filled with legitimate facts more so than extreme opinion. The documentary truly outlines the "all-pervasive" role the corporation has taken as the "world’s dominant institution". The film opens
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Jerred Niemi Did you ever know how many people don’t love and support other people? Then they get an idea that they’re not supposed to be in this world‚ so they commit suicide. 34‚000 people commit suicide per year in the United States according to Meredith Melnick of the Huffington Post. If no one loves you or supports you would feel the same way and maybe get that idea. In The Outsiders‚ it shows that the kids need love and support and if they have love and support then they can also support and
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The high technology level connected to the new tool requires that the company is able to adapt to changes within the process. Takata Corporation has always been a company that has tried to be flexible over time it has developed security tools in step with the times. (Takata‚ 2015) However‚ it is necessary that the process will be able to include a more sophisticated level of technology. It also need a quickly understanding of car databases and also the need to adapt the process to the police system
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