1. I believe that Charles Tollison was not qualified for the partnership position even with his knowledge and ethics. Tollison had many things going for him, in the case it states that people would turn to him if they were threatened with a difficult situation. Along with being the “go-to” person, Tollison has put in the hours for the firm while making sacrifices in his personal life. The main reason that he probably got passed over for the promotion because at the end of the day his client list could not compare to those of his colleagues.
Enron had many legitimate sources of income like natural gas, etc. But as they started to lose money in various areas, some of the stock was later made up and billions of dollars were non-existent! I believe that reasons for Enron on keeping the fraud going for an extensive time is that because there were no strict rules and because of deregulation of buying and selling of the company’s wealth. Ken Lay created multiple non-existing companies of partnership and hid the truth of where the money was. People thought these very companies were worth a fortune but because they were completely made up, they didn't have any value!
How did the top leadership at Enron undermine the foundational values of the Enron Code of Ethics? Key players among the top leadership were Andrew Fastow, Jeff Skilling, and Ken Lay. Each of these individuals contributed to undermining Enron’s foundational values. Enron numerous executives such as former CEO, former chief financial officer and treasurer who forced company to the bankruptcy were found guilty after the bankruptcy. They were engaged in money laundering, fraud and conspiracy.
Ethics play a role in everyday business. Company executives attempt to build a profitable organization but unethical decisions lead to the demise of organizations because of greed and power. Penn Square Bank and Dow Corning both made decisions in their business that started out making millions of dollars but in the end cost the companies more than possibly imagined. Because of the unethical decisions made by both companies they acquired large losses of money by one filing bankruptcy, and the other closing down. Not only were there large losses of money for both companies, but the loss of reputation as well.
Both these companies have gone through the ups and downs like everyone with the way the world turns and have done wild and crazy changes in their history but the one thing they have not done a lot of is change the CEO of the company. Yes there have been bumps in the road for one more than the other but for the most part they have tried not to rock the boat, or reinvent the wheel they just tried to grow and change with the consumer and its wants and needs at that moment. The assets for both stores even with the bumps is not great but it’s holding its own, I have presented a copy of each to give an example of where they are in this case analysis against each other. It will show the assets of both companies from the last two years. In this you can see how things can change for one when to many changes happen within one year to the next, people get scared and CEO’s who are not from the retail world can change the climate of one store almost overnight.
Most of us looks at LBO transactions from outside and have completely different viewpoint how these transactions are done. Barbarians at the Gate presents an insider's perspective. We somehow have these believe that when there is billions of dollars involved in transactions, CEO’s, investors, investment bankers make their decisions based on numbers, trying to be objective to make rational decisions and very seldom let their subjectivity such as their ego to drive their decisions . However after reading the book, I realize how wrong we all are. This paper focuses on what the management team did wrong that cause them to fail and who are the real winners from this transaction.
Pessimistic historians, such as Steve Wright , believe that movements ignored by the Tsar had already ensured his fall from power, that the war was merely a catalyst or even, some argue, delayed Tsarism’s inevitable collapse. On the optimist’s side, there were signs that Russia was slowly becoming more stable before the war ruined all the progress made. The economy was one of the fastest growing in Europe, with an annual growth rate of 6%; Russia would have looked forward to a robust industrial economy in less than a decade. Consequently, employment and living standards would have improved. This would have placated political opposition, reduced the number of strikes and strengthened the security of the monarchy.
“Every technology company had been affected by September 11, 2001; the slowing economy; and the potential threat of war with Iraq.” (Managing Organizational Change, Chipping Away at Intel pg 84.) And the fact that a rival company developed the Athlon processor chip, which turned out to be faster than Intel’s Pentium III chip did not help matters. Internally Intel had production delays and setbacks to name a few. Intel
Road to Righteousness The power of accounting is accumulated through every little wrinkle in a company, but the ethics of accounting depends on each worker. Every single player in the business world has priorities; for many, it is to become wealthy, for others, it may be different. However, the role of morals and ethics steps in before one tries to accomplish any goals. If just one, let alone a few, falters along the lines of moral integrity, the effects of such happening is spread like the expanding waves of water after a stone has been dropped into water. However, no one is born with a sense of moral righteousness already instilled in them; it is what surrounds them in life and the things they go through that influence their perception of morals and ability to distinguish the differences between right and wrong.
What a Tangled Web: The Case of Olympus Angel PinaHardin ACCU 620 November 8, 2013 Brandman University What a Tangled Web: The Case of Olympus Introduction Organizations are rocked by scandals almost every day. From Enron to WorldCom, in the past 20 years, financial and accounting scandals have become the “norm”. Unfortunately, for Olympus, the story is no different. Rocked by an accounting scandal the public and investment community has lost trust in Olympus. Additionally, Olympus lost major shares in the market and was almost delisted from the Japanese and New York Stock Exchanges.