Jeffrey Skilling

Watkins under oath gave her testimony to the House that it was her believe that a confrontation, bringing the recent discovery and concerns to light, with Jeffery Skilling undoubtedly would lead to job termination. Therefore, Ms. Watkins was under pressure that as long as Mr. Skilling was at the helm of the company she had no choice to but remain quiet regarding her findings of inappropriateness of the Raptor assets. In spite of this Watkins had the option to resign and…

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…

Sir Isaac Newton, the famous English physicist and mathematician, was undoubtedly one of the smartest people in the history. Back in the spring of 1720, Sir Newton owned shares of the South Sea Company, the hottest stock in England at that time. At first, he sensed the market was going rogue, and as O’Farrell recorded in his book in 2007, he described himself as a man who “could calculate the motions of the heavenly bodies, but not the madness of the people.” He sold his South Sea shares,…

Phaneesh Murthy-An Introduction A business magnate, Mr. Murthy served as the Director of Infosys Ltd. In 2000 where he was fired from the company 2 years later. In 2003, Mr. Murthy became the Chief Executive Officer of iGate Corporation where he became the President in 2006 & later got re-elected in 2010. The board of iGate removed Mr. Murthy as President in May 2013 in view of an ongoing investigation against Phaneesh. An alum of prestigious institution such as the Indian Institute of…

In the case scenario, Mr. Wu is a 55 years old accountant. He had sudden onset of left sided weakness and drooling. So he was admitted to the Accident & Emergency Department. After CT brain scan, Mr. Wu was found suffering from right middle cerebral artery ischaemic infarct. He was then transferred to the stroke unit for further management. Several health needs are identified after conducting health assessment to Mr. Wu. Left-side weakness and urinary incontinence are selected for…

Allen Stanford was born in Mexia, Texas in 1950. He always had an eye for an opportunity. When he was 13, he made himself $400 by offering to clear a piece of land for a real estate developer on the condition that he could keep the felled trees to sell as firewood. He enrolled at Baylor University, the oldest college in Texas, in 1970. He studied finance, and according to James Davis, one of his classmates during college, while the rest of them were beating their brains out, Stanford was busy…

Following is a summary of the article: “Who by Lying, Who by Cheating, Who by Stealing, and Whom Shall I Say Is Calling?” by Alan Briskinn, posted on 09/28/2015 in the Huffington Post. His article was written post the VW debacle, wherein software was created to mask the large amounts of toxins released from cars sold to public as clean diesel. Results were obvious, devaluation of the share price of VW, forthcoming fines, VW on the top of case studies on Corporate Ethical Breaches. The author…

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…