Enron scandal

I. Issue- Can Terminix substantiate assignment of error of holder of due course in the appeal case against Triangle Credit Union? II. Rule- Holder in due course is someone who has received a negotiable instrument in good faith and without notice that it is overdue, that there is any prior claim, or that there is a defect in the title of the person who negotiated it. III. Application of Facts- On January 23, 2017, Terminix filed a notice of appeal against Triangle Credit Union from the case…

The Phar Mor situation is something that I feel happens a lot with companies and corporation, but on a much smaller scale. Therefore, I wasn’t surprised that the company was able to pull off such a scam for so long. I was more surprised at the fact that it involved the entire management group and that out of all of the people no one was honest or brave enough to put a stop it or expose it. I feel that more people should have been punished in this case because so many people knew about the…

Bernard Madoff was clever and successful in his efforts to woo some of the wealthiest and most intelligent clients, by gaining the trust of his clients. Successfully, Madoff gained prestige and credibility as he served on charitable boards and held a seat on the government advisory board on stock market regulation. Interestingly, as Madoff’s prestige and credibility continued to grow, he promised a continuous return of 10 to12 percent on investments. As a result, investors were eager to become a…

Neese Trustee in the bankruptcy for the First Trust Company brings suit against the directors for failure to use due diligence and to recover losses as a result of these actions or failures to act. The Neese Trustee for the First Trust Company cite in their suit that the directors were negligent in their actions and that they did not discharge their duties as required as directors, they further state that they did not give the required time and attention required of them, this is a crucial…

wish to elaborate on my personal knowledge, however, I will comment on events in the news. For example, Enron bribed foreign governments in order to win contracts abroad, and Arthur Andersen shredded documents associated with Enron once an inquiry was initiated by the SEC (Securities and Exchange Commission). When those companies were contacted by Forbes regarding their alleged wrongdoings, Enron refused to comment, while Arthur Andersen ignored repeated phones calls. Although a multitude of…

Ben Parker, uncle to our very own Spiderman once said that, “With great power comes great responsibility,” something many corporate leaders of today simply do not understand. They are driven by greed and avarice to satisfy their selfish ambitions. This often comes at a very high price, the burden of which, more often than not, is borne by the society at large. In almost every case, these individuals build up a good public image of themselves, in the end only to betray the ones who trusted them.…

In this paper we provide a general overview of asset misappropriation. We discuss the current state of academic and practical knowledge as it relates to asset misappropriation, including what we currently know about asset misappropriation, what research has been done in this area, what is currently missing from the research, and what additional resources are needed in order to continue to provide high quality research on this topic in terms of the three prongs of the fraud triangle, and then…

Sarbanes-Oxley Act, Section 301: Public Company Audit Committees, is created to address systemic and structural weaknesses that affecting the US capital markets due to failures of audit effectiveness and corporate financial responsibility that could potentially “threatened the reputation of those markets for integrity (Tsacoumis, S, Bess, S, and Sappington, A, 2003).” Section 301 provided appropriate regulatory authority of the audit committee the power to overseeing the accounting and…

Analyzing The Big Short The whole housing market is built like a giant Jenga tower. The AAA mortgages are at the top of the tower while the BBB’s are the lowest base of the tower. The AAA’s and AA mortgages were to make so much money that the extra money was to trickle down to the BBB’s at the base. This information is in the book The Big Short: Inside the Doomsday Machine written by Michael Lewis. He has written many best-selling non-fiction books like Moneyball and The Blind Side both were…

To analyze the development and the legislative history of the Americans with Disabilities Act of 1990 (ADA), it is important to discover the definition of disability as enacted by the United States Congress. “When Senators Weicker and Larkin first introduced the Americans with Disabilities Act (ADA; Public Law No. 101–336 [1990]) in 1988, only 30 percent of people with disabilities in the United States were employed. Title I, the section of the ADA pertaining to employment discrimination, sought…