Enron scandal

Phar-Mor Inc. was one of the largest super discount drugstores in the early 1980’S.The Company was a complete success with over 300 discount super stores across the United States and employing thousands of workers. The company’s first signs of financial difficulty became obvious in 1988 as speculation increased about Phar-Mor’s decreasing profit margins. The fraud team consisted of several former auditors, including auditors who had worked for Coopers & Lybrand on prior Phar-Mor audits. The…

JPMorgan Chase & Co. is a financial services firm and banking institution headquartered in New York City. Under the Chase brand, the company offers credit card services, retail banking, and commercial banking. Under the J. P. Morgan brand, the company offers treasury services, private banking, private wealth management, asset management, and investment banking. Over 12,000 companies have been absorbed over the years into what is now JPMorgan Chase & Co., the oldest being The Bank of The…

I deeply feel that if people, in general, moved their emphasis on the casualties that were most in requiring it would most certainly influence the scandals result. In my opinion, organizations that are corrupted by scandal experience the stigma effects of shame a similar way people do. The Stigmatized associations may be disparaged in the media, have their magnanimous endowments rejected, and encounter a mass movement of capacity. The Securities and Exchange Commission said the trick went into…

Chrysler’s observable artifacts are under new constructions. The Chief Executive Officer (CEO) Mr. Sergio Marchionne is changing the atmosphere of the company. No longer will the company be identified with huge discounts and methods which assisted the company into bankruptcy. He is reorganizing the culture of the company. The past practice working environment that caused the company to go into bankruptcy is being replace with new ideas. Mr. Marchionne has removed several veteran executives…

Company Background HealthSouth Corporation, based in Birmingham, Alabama, is the United States’ largest owner and operator of inpatient rehabilitation hospitals. It is founded by Richard M. Scrushy and incorporated in Delaware on February 22, 1984 as Amcare, Inc. (Saux, 2014) HealthSouth Corporation hired more than 60,000 employees at 2,000 facilities which operating in 33 states across the U.S. along with its facilities in Puerto Rico, Canada, UK and Saudi Arabia. (Saux, 2014) It provides a…

A better documented scandal is the Teapot Dome scandal. In this scandal, hundreds of thousands of unsecured loans were given. During the presidency of Warren Hardin in 1920, congress gave the secretary of the Navy the power of leasing government owned oil reserves to private companies. In 1921, this power was taken from the Secretary of the Navy and given to the Department of the Interior. This department was led by a close friend of Harding. The head of the Department of the Interior was Albert…

In light of recent events, no high end corporation is above regulations and laws of the nation. Wells Fargo, a bank with the highest market valuation in America, has been charged with fraud. This company is worth of $250 million dollars, with customers across 35 countries, totaling 70 million people as global customers (CNN Money). Keeping people accountable for their actions is something that the government has been put in place for, and this is one of the times that they have not promptly…

On August 4, 2009, the Securities and Exchange Commission (SEC) fined General Electric Company (GE), $50M for reporting false and misleading financial statements. The transactions occur were not in compliance with Generally Accepted Accounting Principles (GAAP). Furthermore, the four accounting violations occur in 2002 and continued through 2003. The SEC identified risks that uncovered four separate accounting violations, and GE corrected the last of the violations in 2008. The violations are as…

referring to it as the hole generated by Baninter. High executives of this bank were laundering money and setting an important part of the income that it perceived in deposits into an external system or a parallel bank that they had created. The scandal was huge and the damage to the economy was even bigger, this was all that could be seen or heard in the media all over the island. This was the biggest event since Dominican dictator Rafael Leonidas Trujillo "paid" the external debt in 1940,…

Watergate For the next year, the Nixon Administration had kept their illegal tactics to themselves as they continued to taunt Ellsberg and everyone one the enemy list. (until they got caught...) On June 17th, 1972, five members of Nixon 's Administration were arrested as they were found to have broke in the Democratic National Convention headquarters at The Watergate Hotel. They had broke in numerous times. The first to set up wiretapping materials in the Democratic office and eventually in…