Enron

The reasons of the fraud are results from privileges that both Fannie Mae and Freddie Mac are granted from the U.S. Congress. They are government-sponsored enterprises which are chartered by the Congress, enjoy special privileges from the Federal Government such as exemption from federal and state income state, credit support from the U.S. Treasury; moreover, they are not subject to standard financial disclosures. Lack of effective and sufficient internal control is also another reason for this…

When the American heavy metal band Metallica, unleashed their self-funded movie, the 2013 American IMAX thriller concert film - 'Through The Never,' it stimulated the interest of Metallica's fans, only to leave them perplexed and confused by its plot, which is extremely complex and difficult to follow. The 'Through The Never' film was such a commercial failure that the members of the Metallica band lost millions of their own money. In an interview with the Metallica's fan club magazine, the…

In the case of the American Red Cross as mentioned in both questions, I believe that corporate greed and issues of non-caring presidents, leaders and those in high ranking positions was the primary reason for the lack of confidence we have with ARC then and now (Thorne, 2011). The practice of paying leaders for job done poorly continues to exist in American with many companies and ARC is not exempt. This issue with this case is that it was done not only for Bernadine Healy given 1.9 million in…

The act of submitting fraudulent claims is nothing new; many third-party payers are often the victim of these crimes. As a working individual that pays taxes through payroll deductions, like many Americans that have a contribution towards the Medicare program. I have a right to know where funds go and how they are disbursed. The reason I chose this particular regulation because there was a similar case of an Optometrist submitted fraudulent claims to Medicare. Dr. Sponseller was sentenced to…

Disaster capitalism, as coined by Naomi Klein in her book The Shock Doctrine, is the exploitation of a community suffering from a state of shock as a result of a natural, political, or biological disaster in order to make a monetary profit. The collective people sharing in this catastrophe are in a state of shock rendering them into a position of heightened vulnerability. This heightened vulnerability opened the door for major worldwide corporations to come in under the guise of providing aid…

ORGANIZATIONAL BEHAVIOR (HRM-601) Name – Sandeep Shivkote Mallaiah UCID – ss3677 NJIT ID – 31433749 Thought Exercise 6 NAME:- GORDON BETHUNE BIRTH:- AUG 29TH, 1941 TEXAS OCCUPATION :- Chief Executive Officer Continental Airlines(1994-2004) Gordon Bethune is a transformational leader who made dramatic changes to Continental Airlines when he worked as the Chief Executive Officer from 1994 to 2004.Before Gordon took over this responsibility, the company had several black eyes and was on the verge…

Throughout my accounting studies so far, whistleblowers have been praised for their heroic actions that lead to the collapse of a giant corporation. However, the heroic actions and collapse are the seldom times that whistleblower protection laws work. In C. Fred Alford’s book: Whistleblowers: Broken Lives and Organizational Power, Mr. Alford explores the corporation and systems irrational behavior that makes whistleblowers lose faith in humanity and the justice system. Throughout the book, Mr.…

Introduction The key tenant of choosing a specific firm for analysis, is one having the history of outsourcing their Information Technology (IT), to a third party, only to regret the decision, and return, or back source, the IT service. An excellent example being the current largest bank in the United States; JP Morgan Chase. In 2004 JP Morgan Chase cancelled the remainder of a seven year, $5 billion IT contract with IBM. When the outsourcing deal was done in 2001, it was heralded as the…

Hizmete Özel / Confidential Hizmete Özel / Confidential MGMT 512: Corporate Governance Sultan Orman: 0055134 Corporate Failure: Toshiba Accounting Scandal (2015) Summary of the Case: Everything began with the results of an independent report created by a committee of people consisting of independent accountants and lawyers in July 2015. The CEO of one of the leading companies in electronics and technology sector, Toshiba from Japan, announced that he is resigning of his…

Prudential The time when the protagonist Arthur Ryan was brought in as CEO, Prudential was charged with the largest investor fraud in US history. Prudential had defrauded investors of close to $8 billion and eventually had to shell out $371 million as settlements and fines. The most common solution to overcome the economic condition is layoffs. The critical time in highly competitive market leads Arthur Ryan to downsizing environment (p.1). Management decision in downsizing creates gap between…