Arthur Andersen

Ethics and Social Responsibility Companies constantly face the struggle between ethical and unethical behaviors. The line differentiating ethical and unethical actions is not always clear. An ethical company also strives to exude social responsibility. A well-developed strategic plan will help protect a company against the pitfalls of unethical behavior and increase their level of social responsibility. In 2000, the unethical behaviors at Enron became public knowledge. A strategic plan with…

Phar-Mor Inc. was a discount drugstore chain that was founded in 1982 by Michael J. “Mickey” Monus. Within ten years of their first store opening, Phar-Mor had 310 stores, and over 20,000 employees in 34 states. Mickey Monus also owned Tamco warehouse, which was the distributer for Phar-Mor. Mickey Monus also owned 60% of each of the ten teams in the World Basketball Leage (WBL). While everything seemed to be growing, and succeeding rapidly, in reality the company was losing money. Between…

Enron Corporation is one of the American companies; it was formally called the New York Stock Exchange. It was an American energy, services and Commodity Company. In 2001, before its bankruptcy, it had employed more than 20,000 employees. At that point it was the major electricity, communication, natural gas, pulp and Paper Company in the world. It was clamming revenue of $111 billion especially in 2000. After some time Enron scandal was heard. This scandal was that, their financial condition…

Pride Goeth Before Destruction Enron, the quintessential company of the 1990’s, is infamous for its rise and more so for its fall. It’s bankruptcy and dissolution in 2001 was the largest in US corporate history to date when it occurred (Ferrell, Fraedrich, & Ferrell 487). The downfall of the company was brought about by shady accounting practices, a cutthroat company culture, a do-what-it-takes mantra. Ultimately, the prideful and greedy natures of the executives at the helm lead to the…

examined the market reactions to SOX and cited (Li et al., 2004) findings of significant positive response around stock returns, (Rezaee and Jai, 2003) results show positive stock price reaction before SOX passed, (Ptacek & Salazar, 1997; Weeks & Nantel, 1992) studies shows customers believe it’s important and companies have a more positive image and public perceptions remains high, while (Oversight Systems Inc., 2004) survey results reveals 37% of increased in shareholder value as investor…

The documentary “Enron: The Smartest Guys in the Room” deals with “one of the most America's largest corporate bankruptcy”, as it reports the documentary itself. In fact, few years before the bankrupt, Enron was the 7th largest corporation in the USA that took 16 years to go from 10 billion assets to approximately 65 billion, but in only 24 days it went bankrupt. The movie describes and analyses how the company grew and then collapsed quickly and surrounded by a gigantic scandal that can be seen…

1 INTRODUCTION John Morrison(JM) is a cosmetics company that is established in the UNK since 1984. Couple years ago it was bought by Estelle Lorean (EL). Currently, JM is running through a big change in the company. New management team is being introduced. 1.1 IMMEDIATE CAUSE The new management team of John Morrison is executing changes throughout the whole company; stressing out on the introduction of an integrated system that supports manufacturing activities, logistics, retail and etc.…

Sumitomo Copper Scandal (1995) Impacts on the Sumitomo Corporation The Sumitomo Copper estimated that the copper scandal, the financial scandal, gave rise to losses of $1.8 billion in June 1995. According to the company, the case would not affect their activeness and they would swallow the entire loss in the current fiscal year, which was about nine months after it took place. In order to cover the $1.8 billion losses, they would set aside a fund from the original executive bonuses and canceled…

The trade turnover for the Newport creamery in 1918 was reported at a substantial sum of £34,765. At the Nenagh Quarter Session of the County Court in October, in efforts to recoup the endured losses a claim was lodged by the society for £20,000. The magistrate awarded £12,339 in damages, which also included interest at six percent for the duration of one and a half years on the value of the stock destroyed. Furthermore, an additional fifteen percent was awarded for the increase in the price of…

Richard Dickey Scruggs is a famed Mississippi tort lawyer, who was born on May 17, 1946, grew up in Pascagoula, Mississippi. He was raised by his mother, because his father left the family when Scruggs was five years old. His mother worked as a legal secretary at the Ingalls shipyard. Dickie is known for tobacco and asbestos case and amassed more than 1 billion in judgments against various companies. According Joseph B. Treaster, Scruggs became one of the richest America lawyers, by forcing…