...Waste Management, Inc. is the nation's largest waste collector (Feder). In other words, they collect and recycle garbage. They are a known brand and dominate the regions of the country and Canada where they provide services. Grownups and kids alike see their trucks and think, "Garbage". Which could sound awful, but garbage is lucrative. In the early 1990's, Waste Management, instead of just picking up the garbage, provided garbage to their investors in the form of an accounting scandal which cost investors approximately $6 billion (Bloomberg News) and was described by Thomas C. Newkirk, associate director of the SEC's Division of Enforcement as "one of the most egregious accounting frauds we have seen" (SEC). What Mr. Newkirk is describing is a long-standing policy by those at the top of the executive rung at Waste Management to provide their auditors, auditing committee, and the public false and misleading numbers in a variety of ways. First, these highest level executives would set earnings targets without regard to current or recent past results. They would then manipulate the numbers to match the previously set targets. Why? They wished to show tremendous growth in their business which would enrich them personally as they kept their jobs regardless of actual results. They also reaped the benefit of higher bonuses and increased income as they sold off their personal shares of the company at market prices which did not reflect the actual company results. It would be akin...
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...Waste Management Scandal BUS 320 Finance 1/8/16 Waste Management Waste Management Incorporated is considered the nation's largest waste collector (Feder). Waste Management is a well known brand and dominates regions of the United States and Canada where they provide services. Anyone who sees their trucks tends to think, "Garbage". During the early 1990's, instead of just picking up the garbage, Waste Management provided garbage to their investors in the form of an accounting scandal. This scandal would eventually cost investors around 6 billion dollars (Bloomberg News). This event was described by the associate director of the SEC's Division of Enforcement, Thomas C. Newkirk, as "possibly one of the most egregious accounting frauds we have ever seen" (SEC). What Thomas Newkirk was describing was a long-standing policy by those at the top of the executive rung at Waste Management to provide their auditors, auditing committee, and the public false and misleading numbers in a variety of ways. The first step in this scandal involved high level executives setting earnings targets without regard to current or recent results. Those executives would then manipulate the numbers in order to match the previously set targets. By doing this, they were attempting to show tremendous growth. With tremendous growth, they could enrich themselves personally as they kept their jobs regardless of the actual results. Also, they reaped the benefits of higher bonuses and increased income as they...
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...A.2 Case Waste Management Synopsis In February 1998 Waste Management announced that it was restating its financial statements for 1993 through 1996. In its restatement, Waste Management said that it had materially overstated its reported pretax earnings by $1.43 billion. After the announcement, the company’s stock dropped by more than 33 percent, and shareholders lost over $6 billion. The SEC brought charges against the company’s founder, Dean Buntrock, and five other former top officers. The charges alleged that management had made repeated changes to depreciation-related estimates to reduce expenses and had employed several improper accounting practices related to capitalization policies, also designed to reduce expenses.1 In its final judgment, the SEC permanently barred Buntrock and three other executives from acting as officers or directors of public companies and required payment from them of $30.8 million in penalties.2 History In 1956 Dean Buntrock took over Ace Scavenger, a garbage collector owned by his father-in-law, who had recently died. After merging Ace with a number of other waste companies, Buntrock founded Waste Management in 1968.3 Under Buntrock’s reign as its CEO, the company went public in 1971 and then expanded during the 1970s and 1980s through several acquisitions of local waste hauling companies and landfill operators. At one point the company was performing close to 200 acquisitions a year.4 From 1971 to 1991 the company enjoyed 36 percent...
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...What is Recycling? Recycling is a pretty simple concept: take something that isn't useful anymore and make it into something new instead of just throwing it away. It can be anything from recycling old paper into new paper, to making an old hubcap into a decorative birdbath. In reality, recycling can get pretty complex -- how it interacts with our environment, our politics, our economy and even our own human behaviour patterns will play a major role in the future of our planet. What is Recycling? Recycling can take many forms. On a small scale, any time you find a new use for something old, you're recycling. One example is making old cereal boxes into magazine holders Recycling becomes more important on larger scales. At this level, used consumer goods are collected, converted back into raw materials and remade into new consumer products. Aluminum cans, office paper, steel from old buildings and plastic containers are all examples of materials commonly recycled in large quantities, often through municipal programs encouraging bulk household collections. It's rare for a recycled product to be exactly the same as the original material from which it was recycled. Recycled paper, for example, contains ink residue and has shorter fibers than virgin paper (paper made from wood pulp). Because of this, it may be less desirable for some purposes, such as paper used in a copy machine. When a recycled good is cheaper or weaker than the original product, it's known as down-cycling...
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...Waste Management Scandal Janice Whitted Strayer University Professor Steven Brydges October 29, 2012 According to your dictionary (2012), ethics in is the moral standards of determining the behavior of others and assume that “do unto other as you will have them do unto you”. In business, you have to consider the consumers, clients, and shareholders. Because these people has such a significant factor in your business dilemma arises among the different interest it can become extremely tricky. Business ethics become multi-faceted and complex. Many factors affect business ethics, honesty, carefulness, objectivity, integrity, legality, respect of colleagues and others. You have social responsibility, human subject protection, competence, responsible mentoring and publication, as well as non-discrimination, openness, confidentially and respect for intellectual property. The Securities and Exchange Commission (SEC) governs the way stockbrokers and investment bankers do business. Accounts ethics differ from other business ethics, especially public held corporation accountants, they depend upon complete transparency and honesty. Shareholders can be harmed when they act unethical. In this day and time, ethical thought s has gone out the window and greed has become the focus. During the GMC bail out, executives used the monies to meet their needs and not concern about the employees, stakeholders, or the economy. The executives flew to Washington in private jets to ask taxpayers...
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...Historical Research on Waste Management Sean Depkin Jones International University Abstract Waste management is a necessary industry and has been traced back to 3000 B.C. It originally started off garbage dumps or landfills and has progressed to recycling facilities and incinerators that produce both heat and energy from the burned waste. It has been influenced by both motorized transportation and the advances in technology. The most influential person in the waste management industry in the U.S. has been Wayne Huizenga, who saw how to take smaller, independent companies and acquire them into the largest company in the industry. He was able to do that by using stock in his company to make the acquisitions instead of taking out loans from the banks. Waste management and corruption have always been associated with one another because of mafia ownership and even accounting debacles. It is a business that really did not take much to get into other than some capital and transportation. With the decline of available resources and the demand for fewer issues with hazardous waste, an advanced college degree has been necessary to get into management or in the design of the facilities and treatment of waste. Some countries such as Denmark have even advanced as far as to only use their landfills for about 6% of their waste, recycling and incinerating the rest (Buch-Andersen, 2005). Because of booming populations and economies, as well as the planet running out of room for...
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...Waste Management, Inc. Strategic Case Analysis Submitted for Approval to: Dr. Jifu Wang LEADING EDGE CONSULTING Houston, TX The Leaders in Waste Management Group 1 Consultants Jason Cummings Correen Harrell Deanna Lewis Jim Upchurch David Woods Page 3 of 163 Table of Contents 1.0 2.0 2.1. 2.2. Executive Summary..........................................................................8 Background Information on Waste Management ..........................9 Brief History of Company............................................................................... 9 Historical Timeline of Important Events...................................................... 11 3.0 External Analysis ............................................................................13 3.1. General Environmental Analysis ................................................................. 13 3.1.1. Political/Legal Factors.............................................................................. 13 3.1.2. Economic Factors .................................................................................... 16 3.1.3. Sociocultural Factors ............................................................................... 20 3.1.4. Demographic Factors............................................................................... 21 3.1.5. Technological Factors.............................................................................. 25 3.1.6. Global Factors ...............................................
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...The global impact of e-waste Addressing the challenge SECTOR Sectoral Activities Department SafeWork Programme on Safety and Health at Work and the Environment The global impact of e-waste: Addressing the challenge The global impact of e-waste: Addressing the challenge Karin Lundgren SafeWork and SECTOR International Labour Organization Geneva 2012 Copyright © International Labour Organization 2012 First published 2012 Publications of the International Labour Office enjoy copyright under Protocol 2 of the Universal Copyright Convention. Nevertheless, short excerpts from them may be reproduced without authorization, on condition that the source is indicated. For rights of reproduction or translation, application should be made to ILO Publications (Rights and Permissions), International Labour Office, CH-1211 Geneva 22, Switzerland, or by email: pubdroit@ilo.org. The International Labour Office welcomes such applications. Libraries, institutions and other users registered with reproduction rights organizations may make copies in accordance with the licences issued to them for this purpose. Visit www.ifrro.org to find the reproduction rights organization in your country. Lundgren, Karin The global impact of e-waste: addressing the challenge / Karin Lundgren; International Labour Office, Programme on Safety and Health at Work and the Environment (SafeWork), Sectoral Activities Department (SECTOR). – Geneva: ILO, 2012 ISBN 978-92-2-126897-0 (print) ISBN...
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...SMOM5103 – MANAGEMENT SYSTEM ASSIGNMENT OBJECTIVE: The assignment is to test student understanding of the concept of Environment Management System (ISO 14001:2004) and how to apply it at their company. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ INTRODUCTION: NSK Bearings (Malaysia) Sdn. Bhd. is a subsidiary of NSK Ltd. Group of companies headquartered in Tokyo, Japan and has served the needs of Malaysia industry for 20 years. NSK Malaysia supply major to Automotive OEM customers, distributors and heavy industries. At present, we have sixties over employees with three branches operating in Prai, Ipoh, and Johor Bahru. We also have two manufacturing plants in Selangor and one in Perak. At the moment, NSK Bearings is in the midst of achieving the Certification of ISO 14001. Our company decided to get the accreditation due to the recommendations from our customers, especially Toyota. In NSK Bearings, our premise is divided into three main areas: office, distribution warehouse and production. For this assignment purpose, I will focus on the Environmental Management System activities at the production area. Our production line consist of one assembly line for two products. We assembled the steering column system for Toyota and Perodua. [pic] Example of common steering system of a car. Task 1 How to plan and establish an Environment Management system at your own organization The top management of your company...
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...carbonated soft drink containers be returnable and have a minimum refund value. It reduced litter, increased container recycling, and fostered a recycling ethic among Oregonians that helped pave the way for future recycling efforts. After 30 years, it is still one of Oregon’s most effective recycling systems. How the Deposit System Works Every beer or carbonated soft drink container sold in Oregon must have a minimum refund value. Deposits begin with the distributor and are refunded to the customer when the empty container is returned. At the store, empties are sorted and counted, then collected by the distributor for recycling. Containers that are discarded by the consumer rather than returned to the store are often recovered from solid waste and then returned for their refund value by someone else. Specific Provisions of the Law ♦ The deposit/refund applies to all beer and carbonated soft drink containers; ♦ Containers must be labeled with their minimum refund value. Most containers carry a $.05 refund value; ♦ Retailers must provide customers with a full refund for redeemed containers; ♦ Distributors must provide retailers with a refund for redeemed containers; ♦ Retailers may refuse to accept and pay refunds for excessively dirty empty containers or more than 144 containers from one person per day; ♦ Anyone may establish a redemption center to represent one or more retailers; and ♦ There are potential criminal and administrative penalties for violation of the law. Effects of...
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...What is recycling? 3 | Table Of contents | 3 | What is recycling? | 3 | Origins | 3,4 | Supply | 4,5 | Waste recycling in Abu Dhabi | 5 | Sorting waste | 5 | Workplace Recycling Programs | 6 | Public Recycling Venues | 6 | Government Initiatives | 7 | Distribution of Waste Bins for Villas | 7 | Underground Waste System | 7 | Tariff System for Business Establishmentsh | 8 | Conclusion | 8 | References | What is recycling? Recycling is a process using materials (waste) into new products to prevent waste of potentially useful materials, reduce the consumption of fresh raw materials, reduce energy usage, reduce air pollution (from incineration) and water pollution (from land filling) by reducing the need for "conventional" waste disposal, and lower greenhouse gas emissions as compared to plastic production. Recycling is a key component of modern waste reduction and is the third component of the "Reduce, Reuse, Recycle" waste hierarchy. Origins Recycling has been a common practice for most of human history, with recorded advocates as far back as Plato in 400 BC. During periods when resources were scarce, archaeological studies of ancient waste dumps show less household waste (such as ash, broken tools and pottery)—implying more waste was being recycled in the absence of new material. Supply For a recycling program to work, having a large, stable supply of recyclable material is crucial. Three legislative options have been used to create...
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...interrelationships which exist among these, or any of them e.g. waste. Two kinds of definitions are operative for waste. One is conceptual and the other descriptive (Savasi, 1977) and defines waste by listing the kinds of materials comprising it. In the conceptual sense, wastes are defined as useless, unwanted or discarded materials. However, to a modern environmentalist, waste are just materials which are discarded because, they ‘seem’ to have no further economic use ignoring the irrelevant issue of usefulness, value or desirability of the waste. In the descriptive definition, waste consists of discarded materials resulting from domestic, community activities, industrial, commercial and agricultural operations. 1.1 TYPES OF WASTE Agricultural waste, Biomedical waste, Business waste, Chemical waste, Consumable waste, Domestic waste, Industrial waste, Inorganic waste, Medical waste, Organic waste, Recyclable waste Toxic waste, etc. Population explosion, uncontrolled urbanization and rapid industrialization have caused high waste generation quantities and rates in a country, (NEST 1991) waste generation increases not only because people multiply and hence the space available to each person becomes smaller, but also because the demand per person are continually increasing, so that each person throws away more waste year by year. If the world’s population were evenly distributed over the earth surface, most of these wastes could probably remain unnoticed and perhaps harmless...
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...Construction Waste Management: An effective plan for recycling 11/11/2012 Abstract: The construction of both single and multiple family home in the United States on average generates more than two tons of waste. Studies have shown that more than 90% of the waste generated is recyclable. In recent years federal green building programs have been established to award points and give tax credits for those who recycle construction debris. With the current state of today’s housing market, builders can improve their profit margin by reducing the amount of waste sent to landfills. Unfortunately, many builders are puzzled at how to take advantage recycling. In this paper I will focus on cost effective and environmentally friendly methods to dispose of construction waste for those in the home building industry. The program will outline how those in the home building industry implement techniques for managing construction waste on their projects. Introduction When speaking of sustainability those in the construction industry should understand and acknowledge that a critical part includes effective waste management. Napier (2012) suggests the following: “Responsible management of waste is an essential aspect of sustainable building. In this context, managing waste means eliminating waste where possible; minimizing waste where feasible; and reusing materials that might otherwise become waste. Solid waste management practices have identified the reduction, recycling...
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...Waste Recycling National Collection Services Agri can offer customers a complete range of waste management and recycling services designed to meet the needs of the food industry. Catering, retail and food manufacturing sites produce organic wastes, packaging wastes and hazardous wastes that Agri can help you to manage and extract value from. On Site Used Oil Tanks for Catering (Oilsense) A unique complete used cooking oil management solution for the caterer The new used cooking oil management solution has been launched following years of careful research and development. The innovative, user-friendly solution provides a number of significant benefits: Secure handling system Enhanced food quality Enhanced Health & Safety in the kitchen Reduced risk of slips, falls and burns Significantly reduced labour costs Environmentally friendly Huge reduction in the number of collections required Fully automated computerised stock control Factory Collections of Waste Cooking Oil Bulk collection of used cooking oil – A service to meet your revenue and reporting requirements Agri arranges road tanker and articulated trailer services for bulk oil collections. Our food manufacturing or food distribution customers need to maximise their revenues by reducing transport costs, and increasing oil yields in their waste streams. Agri offers specific advice as to how to achieve this. We can fund and install storage systems, telemetry and dewatering technology maximising values. All...
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...so years, the people of earth have wasted and misused the natural recourses of earth. Several plans have been developed to stop the abuse of earth. Some of these plans I will discuss in this essay, many of which can be executed by any one. Environmental problems have become so complex that many individuals feel they can have no effect on them. Problems like oil spills, hazardous waste, loss of rain forests, endangered species, acid rain, the ozone layer, the municipal waste crisis can feel out of our control. At the very least, these problems require group and corporate action or government intervention. However, there are some things the individual can control. Our waste reduction and recycling activities can make a difference. That's why so many communities began voluntary recycling programs. There are some household items that are dangerous if they are just thrown away with the regular garbage these items can damage the environment and injure plant and animal life some of these may include moth balls, spot removers, aerosol cans, fluorescent light tubes and shoe polish. Your local waste management agency has information on how to properly dispose of these items. A compost bin may be set up in your yard. Compost bins return plant and some food materials to the soil through decomposition so it can be used as a natural soil additive, called compost. Compost improves soil texture, increases the ability of soil to absorb oxygen and water. Compost also suppresses weed growth...
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