...CHAPTER 1. 1.1 INTRODUCTION HISTORY OF HARSHAD MEHTA. Harshad Shantilal Mehta was an Indian stockbroker, well known for his wealth and for having been charged with numerous financial crimes that took place in 1992. Of the 27 criminal charges brought against him, he was only convicted of one, before his death at age 47 in 2001. It was alleged that Mehta engaged in a massive stock manipulation scheme financed by worthless bank receipts, which his firm brokered in "ready forward" transactions between banks. Mehta was convicted by the Bombay High Court and Supreme Court of India for his part in a financial scandal valued at 50 billion (US$770 million) which took place on the Bombay Stock Exchange (BSE). In reality he actually exposed the loopholes in the Bombay Stock Exchange (BSE) transaction system and SEBI further introduced new rules to cover those loopholes. He was tried for 9 years, until he died in the late 2001. Mehta was born on 29 July 1954, at Paneli Moti, Rajkot district, in a Gujarati Jain family. His early childhood was spent in Kandivali, Mumbai, where his father was a small-time businessman. Later, the family moved to Raipur, Chhattisgarh, where Mehta studied in Kalibadi Higher Secondary School. By profession Mehta was a Chartered accountant. Over a period of ten years, beginning 1980, he served in positions of increasing responsibility at a series of brokerage firms. By 1990, he had risen to a position of prominence in the Indian securities industry. He established...
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... Richard worked until he became successful, wealthy, and powerful. He was able to obtain the American dream of family, security and wealth. In 2003, an accounting scandal threatened to change his career, his wealth, and his freedom. The Securities and Exchange Commission (SEC) filed a civil law suit against HealthSouth Corporation and Richard M. Scrushy. The SEC charged that the company inflated their books by $1.9 billion since 1999 (SEC, 2003). The filing of these charges had a multiple impact on the stakeholders. The ethical dilemmas that caused the rise and fall of Richard M. Scrushy will be reviewed. Scrushy’s Beginnings Scrushy began his humble beginnings in Alabama. Watson (2003), biography of Scrushy reports he dropped out of high school and worked as a gas station attendant and later a bricklayer. He eventually returned back to school and earned his high school diploma. Later Scrushy enrolled at Jefferson State Community College in Birmingham. He did a year at Jefferson State and a year of clinical training at the University of Alabama at Birmingham (UAB). Scrushy graduated in 1974 as a certified respiratory therapist (Watson, 2003, p. 1). Once Scrushy graduated with the certification of a respiratory therapist, he began climbing the ladder. His accomplishments were as follows: * 1974 - Taught at University of Alabama Birmingham. * 1979 -1984 Vice President at LifeMark HealthCare Firm. * 1984-2003 Founded HealthSouth in Little Rock Alabama...
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...țħěỳ'řě ǻbǿųț țǿ đǿ įț ǻģǻįň BỲ MǺȚȚ ȚǺİBBİ | Ǻpřįŀ 5, 2010 Șħǻřě Țẅěěț Șħǻřě Čǿmměňț Ěmǻįŀ ADVERTISEMENT Victor Juhasz The first thing you need to know about Goldman Sachs is that it's everywhere. The world's most powerful investment bank is a great http://www.rollingstone.com/politics/news/thegreatamericanbubblemachine20100405 AROUND THE WEB 1/61 1/15/2015 The Great American Bubble Machine | Rolling Stone vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. In fact, the history of the recent financial crisis, which doubles as a history of the rapid decline and fall of the suddenly swindled dry American empire, reads like a Who's Who of Goldman Sachs graduates. '80ș Șțǻřș Ỳǿų Ẅǿň'ț Řěčǿģňįżě Țǿđǻỳ 5 Mįňǿř 'Șțǻř Ẅǻřș' Ǻčțǿřș Ỳǿų Đįđň'ț Řěǻŀįżě Ẅěřě İň Ěvěřỳțħįňģ Mųșįčįǻňș Ẅħǿ Ǻřěň’ț Ẅħǿ Ỳǿų Țħįňķ Țħěỳ Ǻřě Fǻmǿųș Șǿňģș Țħǻț Ẅěřě Ẅřįțțěň Ǻbǿųț Čěŀěbřįțįěș ȘİĐĚBǺŘ Invasion of the Home Snatchers By now, most of us know the major players. As George Bush's last Treasury secretary, former Goldman CEO Henry Paulson was the architect of the bailout, a suspiciously selfserving plan to funnel trillions of Your Dollars to a handful of his old friends on Wall Street. Robert Rubin, Bill Clinton's former...
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...Corruption Sanchit Avasti Roll no. 03 TYBMM Introduction of corruption What is Corruption? In philosophical, theological, or moral discussions, Corruption is spiritual or moral impurity or deviation from an ideal. In economy, Corruption is payment for services or material which the recipient is not due, under law. Corruption means the state of being bad and dishonest, especially in matters concerning money. It creates a very impact to the country's education, occupation, living style and mostly the humanity. Corruption affects all regions of the world and all levels of society, but the impact is greatest in developing countries. Every year, developing countries lose USD 50 million to 100 million through corrupt acts Corruption undermines political, social and economic stability and damages trust in institutions and authorities. It also fuels transnational crime. Terrorists and organized criminals are aided in their illegal activities by the complicity of corrupt public officials. Types of Corruption Corruption became a sway all over the world now-a-days. It can be categorized in three types. There are three broad classifications of corruption, which are however not mutually exclusive: Petty and Grand corruption: Petty Corruption: • Practiced on a smaller scale. Defined as the use of public office for private benefit in the course of delivering a pubic service. Usually involves relatively small amounts of money, including bribery (grease money or speed...
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...organizations primarily engaged in renting or leasing real estate to others; managing real estate for others; selling, buying, or renting real estate for others; and providing other real estate related services, such as appraisal services. Companies that invest directly or indirectly in real estate through development, investment or ownership. Excludes real estate investment trusts and similar entities, which are classified as Real Estate Investments. Source: www.icbenchmark.com/ICBDocs/Structure_Defs_English.pdf 7|Page 2. Analysis of Potential Changes in the Macro-Environment Industries operate within the Macro-Environment, where most analysis starts. This includes all factors that can influence and organization, but that are out of their direct control. It is continuously changing,...
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...Enablers of Exuberance Jennifer S. Taub Sept. 4, 2009 DISCUSSION DRAFT Enablers of Exuberance: Legal Acts and Omissions that Facilitated the Global Financial Crisis Jennifer S. Taub1 I. Introduction This paper explores certain legal acts and omissions that facilitated the over-leveraging and near collapse of the global financial system. These ―Legal Enablers‖ fostered the boom that enriched a class of financial intermediaries who followed a storied tradition of gambling away ―other people‘s money.‖2 These mechanisms also made the pain of the bust disproportionately felt by the middle class and poor while shielding the middlemen who created the problems. These legal Enablers permitted the growth of a shadow banking system, without investment limits, transparency or government oversight. In the shadows grew a variety of highly leveraged private investment pools, undercapitalized conduits of securitized loans and speculation in complex credit derivatives. The rationale for allowing this unregulated, parallel system was that it helped to create innovation and provide liquidity. The conventional wisdom was that any risks associated with a hands-off approach could be managed by the ―invisible hand‖3 of the market. In other words, instead of public police, it relied upon private gatekeepers. A legal framework including legislation, rules and court decisions supported this system. This legal structure depended upon corporate managers, counterparties, ―sophisticated investors‖ and the...
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...SPECIAL REPORT I N T E R N AT I O N A L B A N K I N G May 19th 2012 Retail renaissance SPECIAL REPORT INTERNATIONAL BANKING Retail renaissance The internet and mobile phones are at long last turning boring old retail banking into an exciting industry, says Jonathan Rosenthal IF YOUR BANK could start over, this is what it would be, trumpeted the marketing campaign for the launch in 1999 of Wingspan, an internet bank. The following year the bank was gone. In September 2000, a few months after the dotcom bubble burst, it was absorbed by its boring American bricks-and-mortar parent, Bank One (now part of JPMorgan). For all the high hopes that the internet would transform banking, most other internet banks launched around that time met with a similar fate. Citi f/i, an online bank started by Citigroup, was folded back into its parent in 2000. NetBank, an American pioneer of internet banking, soldiered on for longer than most but was shut down by banking regulators in 2007. On the other side of the Atlantic, Egg, Britain’s rst stand-alone internet bank, shook the market in 1999-2000 when it gained more than 2m customers within months of starting up. But within a few years it, too, had in e ect disappeared, its customers having been sold rst to Citigroup and then to Barclays and the Yorkshire Building Society. It was an ignominious end to a bold experiment in online banking that had caused palms to sweat in banking centres around the world. The promise of internet banking...
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...Licensed to: iChapters User Licensed to: iChapters User Fraud Examination, Fourth Edition W. Steve Albrecht Chad O. Albrecht Conan C. Albrecht Mark F. Zimbelman VP/Editorial Director: Jack W. Calhoun Editor-in-Chief: Rob Dewey Sr. Acquisitions Editor: Matt Filimonov Associate Developmental Editor: Julie Warwick Editorial Assistant: Ann Mazzaro Marketing Manager: Natalie Livingston Marketing Coordinator: Nicole Parsons Content Project Management: PreMediaGlobal Sr. Manufacturing Buyer: Doug Wilke Production House/Compositor: PreMediaGlobal © 2012, 2009 South-Western, Cengage Learning ALL RIGHTS RESERVED. No part of this work covered by the copyright herein may be reproduced, transmitted, stored, or used in any form or by any means graphic, electronic, or mechanical, including but not limited to photocopying, recording, scanning, digitizing, taping, Web distribution, information networks, or information storage and retrieval systems, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the publisher. For product information and technology assistance, contact us at Cengage Learning Customer & Sales Support, 1-800-354-9706. For permission to use material from this text or product, submit all requests online at www.cengage.com/permissions Further permissions questions can be e-mailed to permissionrequest@cengage.com Library of Congress Control Number: 2010940986 ISBN-13:...
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...SOMETHING for NOTHING The Causes and Cures of All Our Problems and What You Can Do to Save the American Dream BRIAN TRACY Eagle House Publishing Corporation 2004 Eagle House Publishing Corporation 1117 Desert Lane, Suite 1228 Las Vegas, NV 89102 USA www.eaglehouse.biz eaglehousepc@hotmail.com Copyright © 2004 Brian Tracy. All rights reserved. First Eagle House Publishing Corporation electronic edition 2004 ISBN 0-976123-92-4 To my wonderful wife Barbara, who has encouraged me to write this book for twenty-five years. Without her continued inspiration, these ideas may never have been available to mankind. Contents Introduction. A Society in Crisis ..................................................1 Chapter One. Why We Do the Things We Do .............................7 Chapter Two. What We All Want ...............................................29 Chapter Three. Simple as ABC ...................................................45 Chapter Four. Character Reigns .................................................63 Chapter Five. The Current Dilemma ..........................................79 Chapter Six. Government, Politics and Power ............................93 Chapter Seven. The Foundationsof the American Dream .........116 Chapter Eight. Working For a Living .......................................126 Chapter Nine. Law, Order and Crime ......................................138 Chapter Ten. Welfare,Entitlements and Society ........................148 Chapter...
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...This page intentionally left blank Managerial Economics Managerial economics, meaning the application of economic methods in the managerial decision-making process, is a fundamental part of any business or management course. This textbook covers all the main aspects of managerial economics: the theory of the firm; demand theory and estimation; production and cost theory and estimation; market structure and pricing; game theory; investment analysis and government policy. It includes numerous and extensive case studies, as well as review questions and problem-solving sections at the end of each chapter. Nick Wilkinson adopts a user-friendly problem-solving approach which takes the reader in gradual steps from simple problems through increasingly difficult material to complex case studies, providing an understanding of how the relevant principles can be applied to real-life situations involving managerial decision-making. This book will be invaluable to business and economics students at both undergraduate and graduate levels who have a basic training in calculus and quantitative methods. N I C K W I L K I N S O N is Associate Professor in Economics at Richmond, The American International University in London. He has taught business and economics in various international institutions in the UK and USA, as well as working in business management in both countries. Cambridge, New York, Melbourne, Madrid, Cape Town, Singapore, São Paulo Cambridge...
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...CAREERS IN MARKETING ★ ★ ★ ★ ★ INDUSTRY TRENDS AND RANKINGS POSITIONS AND RESPONSIBILITIES WORKPLACE CULTURE AND COMPENSATION THE RECRUITING PROCESS ★ INSIdER SCoop: FRoNT-LINE REpoRTS ★ GuIde Careers in Marketing 2008 EDITION InsIder Careers in Marketing WETFEET, INc. The Folger Building 101 Howard Street Suite 300 San Francisco, CA 94105 Phone: (415) 284-7900 or 1-800-926-4JOB Fax: (415) 284-7910 Website: www.wetfeet.com carEErs IN markETINg 2008 Edition ISBN: 978-1-58207-759-8 PhOTOcOPyINg Is PrOhIbITED Copyright 2008 WetFeet, Inc. All rights reserved. This publication is protected by the copyright laws of the United States of America. No copying in any form is permitted. It may not be reproduced, distributed, stored in a retrieval system, or transmitted in any form or by any means, in part or in whole, without the express written permission of WetFeet, Inc. The publisher, author, and any other party involved in creation, production, delivery, or sale of this WetFeet Insider Guide make no warranty, express or implied, about the accuracy or reliability of the information found herein. To the degree you use this guide or other materials referenced herein, you do so at your own risk. The materials contained herein are general in nature and may not apply to particular factual or legal circumstances. Under no circumstances shall the publisher, author, or any other party involved in creation, production or delivery of this guide be liable to...
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...U.S. Department of Justice Federal Bureau of Investigation 2012 The Strategic Information and Operations Center at FBI Headquarters is the 24/7 command post that monitors FBI operations and law enforcement activities around the globe. An FBI agent examines a potentially contaminated letter during a white powder training exercise. 2012 The FBI Story I A Message from FBI Director Robert S. Mueller, III For the FBI and its partners, 2012 was a year that reminded us once again of the seriousness of the security threats facing our nation. During the year, extremists plotted to attack—unsuccessfully, thanks to the work of our Joint Terrorism Task Forces—the U.S. Capitol, the New York Federal Reserve Bank, and other landmarks on U.S. soil. Tragically, on the 11th anniversary of 9/11, a hateful attack in Benghazi took the lives of the U.S. Ambassador to Libya and three other Americans. In the cyber realm, a rising tide of hackers took electronic aim at global cyber infrastructure, causing untold damages. High-dollar white-collar crimes of all kinds also continued to siphon significant sums from the pocketbooks of consumers. And in Newtown, Connecticut, 20 young children and six adults lost their lives in one of the worst mass shootings in American history, ending a year of violence that saw similar tragedies around the country. Working with its colleagues around the globe, the FBI is committed to taking a leadership role in protecting the nation. As you can see from...
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...* Question 1 0 out of 10 points | | | A Ponzi scheme is characterized by: I. an investment whose growth is financed by high returns on its investment. II. an investment whose growth is financed by new clients who give money. III. an investment that relies on receiving funds from nonprofit institutions. | | | | | Selected Answer: | [None Given] | Answers: | A. I only | | B. II only | | C. III only | | D. I, II, and III | | | | | * Question 2 0 out of 10 points | | | Reasons why indirect finance is so important include: | | | | | Selected Answer: | [None Given] | Answers: | A. the persistent increase in the cost of stocks. | | B. the fact that banks provide liquidity to depositors. | | C. the fact that banks increase transaction costs for savers. | | D. the fact that banks increase transaction costs for investors. | | | | | * Question 3 0 out of 10 points | | | The free-rider problem arises: | | | | | Selected Answer: | [None Given] | Answers: | A. when people benefit from a good without paying for it. | | B. only when markets are perfectly competitive. | | C. if labor unions are strong. | | D. when a country is expanding. | | | | | * Question 4 0 out of 10 points | | | A project pays $125 with a probability of 0.75 or pays $90. What is the expected value of this project? | | | | | Selected Answer: | [None Given] | Answers: | A. $116.25 | | B. $93.75...
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...ETHICS IN INFORMATION TECHNOLOGY Third Edition This page intentionally left blank ETHICS IN INFORMATION TECHNOLOGY Third Edition George W. Reynolds Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States Ethics in Information Technology, Third Edition by George W. Reynolds VP/Editorial Director: Jack Calhoun Publisher: Joe Sabatino Senior Acquisitions Editor: Charles McCormick Jr. Senior Product Manager: Kate Hennessy Mason Development Editor: Mary Pat Shaffer Editorial Assistant: Nora Heink Marketing Manager: Bryant Chrzan Marketing Coordinator: Suellen Ruttkay Content Product Manager: Jennifer Feltri Senior Art Director: Stacy Jenkins Shirley Cover Designer: Itzhack Shelomi Cover Image: iStock Images Technology Project Manager: Chris Valentine Manufacturing Coordinator: Julio Esperas Copyeditor: Green Pen Quality Assurance Proofreader: Suzanne Huizenga Indexer: Alexandra Nickerson Composition: Pre-Press PMG © 2010 Course Technology, Cengage Learning ALL RIGHTS RESERVED. No part of this work covered by the copyright herein may be reproduced, transmitted, stored or used in any form or by any means graphic, electronic, or mechanical, including but not limited to photocopying, recording, scanning, digitizing, taping, Web distribution, information networks, or information storage and retrieval systems, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without the prior written permission...
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...A ∑ E= mc 2 This eBook is provided by www.PlentyofeBooks.net Plenty of eBooks is a blog with an aim of helping people, especially students, who cannot afford to buy some costly books from the market. For more Free eBooks and educational material visit www.PlentyofeBooks.net Uploaded By Bhavesh Pamecha (samsexy98) 1 INFLUENCE The Psychology of Persuasion ROBERT B. CIALDINI PH.D. This book is dedicated to Chris, who glows in his father’s eye Contents Introduction 1 Weapons of Influence 2 Reciprocation: The Old Give and Take…and Take 3 Commitment and Consistency: Hobgoblins of the Mind 4 Social Proof: Truths Are Us 5 Liking: The Friendly Thief 6 Authority: Directed Deference 7 Scarcity: The Rule of the Few Epilogue Instant Influence: Primitive Consent for an Automatic Age Notes Bibliography Index Acknowledgments About the Author Cover Copyright About the Publisher v 1 13 43 87 126 157 178 205 211 225 241 INTRODUCTION I can admit it freely now. All my life I’ve been a patsy. For as long as I can recall, I’ve been an easy mark for the pitches of peddlers, fundraisers, and operators of one sort or another. True, only some of these people have had dishonorable motives. The others—representatives of certain charitable agencies, for instance—have had the best of intentions. No matter. With personally disquieting frequency, I have always found myself in possession of unwanted magazine subscriptions or tickets to the sanitation workers’ ball. Probably...
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