Enron scandal

As the seventh biggest company in the United States at the time, Enron’s downfall in 2001 sent seismic shocks through corporate America. A week before Enron disclosed charges for bad investments totaling more than $1 billion, Arthur Andersen, Enron’s accounting firm, started shredding documents as well as emails that connected them to Enron’s crime. After Enron’s bankruptcy announcement, Congress turned its attention to the regulatory and legal aspect that enabled Enron’s façade to go on for…

The client, Barae Pharmaceuticals had won a $2 million judgement against Bara Pharmaceuticals for the misuse of Barae’s name. Bara Pharmaceuticals had used Barae’s name inappropriately in the generic-label over-the-counter market. Bara, the defendant in the case, had closed down and filed for Chapter 7 bankruptcy when the judgement was entered. With the judgement entered and debt being incurred, the CEO and CFO of Bara had left the country and returned to South America. Additionally, the 125…

Before the Sarbanes-Oxley Act, in health care frauds, it has been the companies that have paid large settlements and the executives responsible have walked away with their profits. However, with this Act, executives are now personally responsible for any misstatements. The main objective of the Sarbanes-Oxley Act was to “enhance corporate responsibility, enhance financial disclosures, and combat corporate and accounting fraud” (sec.gov/about/laws.shtml). “This Act requires that Chief Executive…

BenQ, a Taiwanese-based company, grabbed the headlines all over the world on June 7, 2005 when it acquired Siemens Mobile, a lose making mobile phone division of Germany’s Siemens and later launched the brand, BenQ-Siemens. Subsequently the acquisition proved to be a strategic mistake, as the two companies could not successfully integrate. In October 2006 BenQ-Siemens filed for bankruptcy in a Munich court, surprising every one. This sparked a debate in Germany over whether BenQ had acquired…

The job I had accepted assumed directorship of a 50-man comprehensive information technology department with a history of perennially poor management, incoherent staff development, technologies, internal policies and procedures. However, no sooner than concluding the first day on the job, the chief operating officer had apparently gone snooping around my office only to discover an inadvertent disregard for one of their key rules - all desks must be clean before leaving. Had I been informed?…

Franklin Clinton Franklin Clinton is one of the three main characters from a video game called, “Grand Theft Auto V”. His height is 6’0”. Franklin is 27 years old. His first job was towing cars. He is sometimes nice, sometimes gets mad, strong, a really good driver, and used to be a gang banger. Even though he’s a criminal and a gang banger, he just do it to protect himself and for money. He live in a poor neighborhood but as soon as he met a guy name Michael, who is also a criminal but more…

The financial indecency performed by Bernard Madoff changed the financial world forever. He is not only former non-executive chairman of the NASDAQ stock market, but the man to operate the largest Ponzi scheme in history. Upon further research relating the awful nature of a Ponzi scheme, many people after the ordeal were hurt and affected closest to him, especially his own children and the individuals following him around the world. This is truly the most deceitful monster like act ever done and…

There are lots of reports, attention, and even movies record this famous financial issue. In the movie “Margin Call”, John Tuld (very similar with Richard Fuld, who was the CEO of the Lehman Brother) said, the toxic aspect of its asset make it dangerous enough to death, and will be transferred easy relatively. 2000 is the 150 anniversary of Lehman Brother. The World Trade Center Office of Lehman Brother destroyed in 2001 “9.11”, and move to Manhattan 2002. During 2002, Lehman Brothers build it…

I: EXECUTIVE SUMMARY Green Rope Incorporated, my new employer, faces lawsuits due to some failures of the wire rope which caused a number of casualties in various construction sites as a result of poor quality wire product. Because of this, GRI is at a brink of closure. Meanwhile, as a former financial analyst of Red Wire Corporation, I had a chance to join a stock-taking team and walked through the plant, and saw the critical process and specially designed machine that was internally developed.…

Eddie Antar started a small electronic business in New York City in the year 1969. Antar dominated the NYC electronic markets around 1987 with 43 retail outlets, sales exceeding $350 million, and stock with a collective market value of $600 million. Antar personally realized more than $70 million from the sale of Crazy Eddie stock during his labor as the company’s CEO. Crazy Eddie collapsed in the 1980s after several allegations of financial wrongdoing from behalf of Antar and his associates.…