Enron

Bernard (Bernie) Douglas Banton was an Australian advocate for people suffering from asbestos associated diseases and social injustice, the campaigner was born in Sydney on the 13th of October in 1946, he had begun his profession at James Hardie & Co Pty Ltd From 1968 to 1974. James Hardie is an industrial building materials corporation headquartered in Dublin, Ireland. The company specializes in the manufacturing and shipping of fibre cement products and develops materials for the production of…

The men in the 19th century discovered the unbelievable properties of an unknown liquid. It turned out that by simple distillation, it could be metamorphosed into a lubricant and lighting oil, superior and much cheaper to those which were known till now. The only known substance which experienced this type of acceleration was gold during the gold rush. Oil was not an exception. The discovery of both of them intrigued the attention of major business tycoons. John D. Rockefeller was one of them.…

On July 21, 2002, WorldCom, one of the nations leading companies in Telecommunications, filed for bankruptcy and exposed an $11-billion-dollar fraud, making it one of the largest in all time. Spearheading the scandal were six employees, Bernard Ebbers the CEO, Scott Sullivan the CFO, David Myers the accounting controller, Buddy Yates the Accounting Director, and Betty Vinson and Troy Norman the accountants. The scandal went to federal trial, and after six days of jury deliberation, all six of…

The first recorded use of the term “Black Friday” was applied not to holiday shopping but to financial crisis: specifically, the crash of the U.S. gold market on September 24, 1869. Two notoriously ruthless Wall Street financiers, Jay Gould and Jim Fisk, worked together to buy up as much as they could of the nation’s gold, hoping to drive the price sky-high and sell it for astonishing profits. On that Friday in September, the conspiracy finally unraveled, sending the stock market into free-fall…

Austin Sweeting Mrs. Jones Sociology 8:00 21 March 2016 Bernie Madoff's $50 Billion Ponzi Scheme: White Collar Crime After overlooking several different types of crimes I decided to look into the damaging effects of what white collar crimes can cause. Thereafter I then decided to choose one of the most infamous white collar crimes “Bernie Madoff’. The man who almost got away with billions of dollars of innocent investors. We will dive into the shocking story of Bernie Madoff the man who…

lot of supporters were looking at was the amount of success both visually and monetarily. "It just became craziness. Good craziness, but craziness," said Barbara Newhouse, president and chief executive of the ALS Association speaking on the flood of financing. Revenues from 2013s fiscal year for the ALS Association's national office and its 38 affiliated chapters around the country were $64 million, far less than the 2014 summer haul pending the ice bucket challenge. Such a large influx of cash…

In the case of United States vs. Walter Liew, Liew is being charged with over 20 criminal counts, with one of them being misappropriation of trade secrets (Levine). Liew had gotten paid millions of dollars by a Chinese company to apprehend trade secrets of the American company Dupont in order to solidify the company in China. Liew, 56, living in California, received 28 million in order to bribe engineers and other employees for confidential paperwork that the Chinese company wanted. What was the…

White-collar crime, according to Merriam-Webster, refers to, “a crime that typically involves stealing money from a company and that is done by the people who have important positions in the company”. In modern society, white-collar crime may not be as obvious as violent crime, but its consequences leave major impacts on the world, particularly financially. Beginning in 2002, Wells Fargo began transforming into one of the largest criminal enterprises in history. Over the past 15 years, this…

Situation Analysis The case begins with Dave Hersh, CEO of Jive Software, addressing a meeting of all employees and he was looking at shell-shocked faces of Jive Software employees after a massive layoff of 20 percent of workforce. After a year of record sales in year 2007, Jive has increased its sales force strength too quickly to match the sales growth and sale force started to miss the sale quota from the 2nd quarter of 2007 and his plane of sale in the in 2008 was even higher than 2007. The…

1. There were several corporate governance issues in this case, including the lack of protection of investors, an ineffective, non-independent board of directors who lacked an inquisitive nature and the creation of CEO duality which enabled Eisner to accumulate unfettered powers. Under Eisner’s direction, revenues grew from $1.5 billion to over $30 billion and ‘share price rose from approximately $57.00 per share to $71.00 per share during Ovitz's tenure’ (Stephen and Haupert, 2011), however…