...Case 4-5 Westport Electric Corporation Case 4-5 Westport Electric Corporation James King, the supervisor of the administrative staff budget for Westport Electric Company, one of the giant US corporations that manufactures and sells electric and electronic products had a meeting with Peter Ensign, the controller of Westport Electric, along with Michael Kelly, the manager of the budget department. King reported to Kelly and Kelly reported to Ensign. The purpose of the meeting was to discuss King’s concerns about the increases in expenditures that were being proposed in the 1988 budgets of the various administrative offices. His overall concern was about the process in which Westport Electric reviewed and approved the administrative budgets each year (Anthony & Govindariajan, 2007). The company has six staff offices that are tasked with providing direction and advice to top management as well as advising the operating divisions and other staff. They also have responsibilities of coordination among the divisions. King felt that the evaluation process didn’t work and that the president and executive vice president didn’t have enough information to make informed decisions on whether to approve or challenge a department’s budget. As a member of the Westport executive team, I would change the process. One option to consider would be to move to a business unit organization. This would move the administrative functions under each of the four operating divisions...
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...Issues in Accounting” SEC Charges Terex Corporation with Accounting Fraud Table of Contents Introduction ----------------------------------------------------- 3 Discussion ---------------------------------------------------- 4 Conclusion ------------------------------------------------------ 5 References ------------------------------------------------------ 6 Introduction Terex Corporation (Terex) is a global manufacturer of a broad range of machinery equipment for use in various industries including the construction, infrastructure, quarrying, surface mining, shipping, transportation, refining and utility industries. The company has operations throughout the Americas, Europe and the Asia Pacific. It is headquartered in Westport, Connecticut and employs 15,900 people. The company recorded revenues of $4,043.1 million in the financial year ended December 2009 (FY2009), a decrease of 51.8% compared to FY2008. The decline was primarily due to the reduced purchase of customer as a result of uncertainty in the global economy. The operating loss of the company was $459.9 million in FY2009, compared to an operating profit of $174.5 million in FY2008. The net loss was $398.4 million in FY2009, compared to a net profit of $71.9 million in FY2008. The study involves Terex wherein being charged with helping United Rentals to inflate year-end results in order to mislead investors during a period of industry recession. According to Clements and two other former Terex executives...
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...Westport Electric Corporation: Case Context In a meeting, James King, the supervisor of administrative staff budget section of Westport Electric Company, a large manufacturer and seller of electric and electronic products, was discussing his displeasure with the proposed increase in budget of the offices. According to him, these are not justified and are clear indications of faults in the company’s budgeting system. The company currently has six staff offices like those mentioned and they are tasked with providing advice to top management and operating divisions as well as other staff offices. They also coordinated among the divisions depending on their areas of activity. These staff offices are budgeted using the company’s budget approval procedure, which according to some of its officers like King, needs a lot of improvement. Q) What should Westport do about the evaluation problem raised in the case? PROBLEM STATEMENT The budgeting system of Westport should be assessed as to its efficiency and effectiveness and identify changes that will develop the current system. ANALYSIS AND RECOMMENDATION We recommends that top management actually pay considerable attention to the efficiency and effectiveness of each business division. Currently, it appears that focus is given simply on bottom line numbers; that is, each unit’s financial success is assessed solely on the basis of how handsome the profits brought in for the company, without being given much performance...
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...(Source: http://humanresources.about.com/od/glossaryh/f/hr_management.htm) As per the definition and also the explanation given above with regards to the Human Resource Management, there are many fundamentals in a given section as Human resource Management. The fundamentals consists would consist of Compensation & benefits, Human Resource Planning, Training & Development and also Performance appraisal. In this assignment, the topic of discussion will be based solely on the performance appraisal. The study done will be base on the fairness of the performance appraisal in the company. The company which the case study will be conducted will be on Westports Malaysia Sdn Bhd. In the following topic of discussion, the background of the company will be further elaborate to under the fundamentals of the company’s organization. Westports Malaysia Sdn Bhd was chosen due to many factors but the most significant factor is that the companies back bone is run by the number of manpower it has in the organization. Needless to say...
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...potential as he established his own consulting firm and the firm being appointed to be responsible in handling commercial operations of RTM. He had done the impossible as he increases the revenue from RM 55 million to RM 350 in a period of 10 years. Currently, he is the Executive Chairman of Westport, one of the biggest port operator in Malaysia. Based from his past achievement, we can conclude exactly what is his most active quadrants in the Ned Hermann Brain Quadrants Theory. From the observation, his tendency is much more to quadrant C and quadrant D. His emotions towards the death of his father almost caused him to drop out from his university . It can be seen that his reaction to the situation is drastic and the placement of being emotional would be in the quadrant C. Being labelled as one of the most influential marketing guru in Malaysia, he has the effective interpersonal skill in reaching people from the success stories when he was being the Marketing consultant for RTM. Collecting an amount that is considered impossible to others, his thinking skills of reaching millions with his soft skills represents the activeness of his quadrant C. His intentions for the future of the Westport would be the appointment of his own...
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...The American and French Revolutions had a common goal. Compare and contrast the causes and practices of the American and French Revolution. Throughout human history, few have always controlled the lives of many. This case still exists today, as governments consisting of a few hundred people attempt to do what is best for millions of others. However, the public through an electoral process most commonly selects these decision-makers. These decision-making individuals were not always selected by the public, and in some such instances, the few that ruled over others were overthrown after their actions earned the discontent of the people. Both the American Revolution and the French Revolution can be grouped as these events. In both the American and French Revolution, the ruler was regarded as a tyrant and overthrown for the benefit of the public. Although the aims of the two revolutions were quite similar, there were many differences between them. The American Revolution and the French Revolution can be categorized as events where rulers were overthrown due to their actions; however, no matter how similar the causes, there are many differences between the events of the two revolutions. The French-Indian War of 1754 was a war between the British and the French to gain control over North American colonies. The British eventually defeated the French but owed a great debt and expected the colonies to help pay for the cost of the war. The British wished to cut down on costs in its North...
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...Kennedy Nabors Mrs. Dale AP English IV 24 November 2012 The Odyssey of Realism All throughout literature and script has been used as a means to describe or make a point to an audience. In American literature, the focus of these devices has become the use of language, aesthesis, truth, expression, fiction, and affectiveness. In Death of a Salesman, Arthur Miller’s stylistic devices convey not only bitter deception and bleak despair, but also hopeless despondency and forlorn anguish to display the realism and iniquity of the common man. As a representative form of American realism, Death of a Salesman portrays the use of language to convey a feeling of acrimony that demonstrates the relationship between the ideas of Willy Loman and the American common man. Willy Loman as the protagonist and the antagonist of his own story creates the sense of language that develops the idea of being “liked and you never will want” stating the façade of the Willy’s society (Miller 21). While communicated to the audience through a form of realism, his language functions as the crevice between the real and non-real. As development of language continues sometimes Willy Loman’s clichés “rise to the level of pure poetry” (Roudane 369). The use of language constructs poetic symbolism and closes the gap between non-realism and realism. Throughout the Adventures of Huckleberry Finn, Mark Twain utilizes a poignant sense of diction reciprocating the slang the common man used in the Antebellum South...
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...World War II: The Internment of Japanese Americans Josh White Sothern New Hampshire University WORLD WAR II: THE INTERNMENT OF JAPANESE AMERICANS The topic of Japanese American Internment during the Second World War is a very important part of American history.It happened during the Second World War when nations were against each other and after the Japanese attack on the Pearl Harbor in Hawaii, Japan automatically became an enemy to the United States thus leading to the government of the day led by President Franklin D. Roosevelt in 1942 to take several measures against Japan and its origins mainly living in the United states. What followed was an executive order by the president to allow forceful removal of Americans of Japanese origin from their homes and incarcerated into camps.The government had feared another attack by the Japanese would be imminent and so they had to come up with some measures to get rid of Japanese spies that were living in the west coast. This led to one of the lowest moments in American history as these camps were an absolute human rights violation to these Japanese Americans. Most of these Japanese Americans who had been taken to these camps were actually legal American citizens thus showing that this move was based on racial stereotypes and propaganda that was being peddled during that time referring to the Japanese as less of human beings. This incarceration seriously affected these Japanese Americans...
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...GLOBALIZATION AND THE AMERICAN ECONOMY Name Course Institution Professor Date of submission One of the most debated economic issues in our time is the effect of globalization on the U.S. economy. Globalization is a very general term but in this context it is used in reference to the changes that lead to the free movement of goods, services and the factors of production between different countries. Economists argue that globalization is very important in the aspect of the benefits that arise from free trade. On the other hand, these economists also look at the negative effects such as job losses, unemployment and reduced wages. Despite these downfalls, I believe that America will continue to prosper in this globalizing economy. On the brighter side, the US will gain more jobs and boost its economic activity through globalization. In terms of the office work for example, the U.S. insources far more than it outsources. This means that foreign companies make far greater use of the U.S. residents’ services. In 2003, America bought around $77 billion worth of foreign services and sold $130 of these services (Bertho, 2008). Another reason is that between 1991 and 2001 America based multinationals went ahead and created around 3 million jobs overseas but also created over 5 million jobs in the U.S. This is a clear indication that creating more jobs overseas translates into hiring more workers in America as well (Bertho, 2008). The U.S. also gains jobs as foreign companies invest...
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...Hurricane Insurance and Related Accounting Matters The Company maintains an aggregate of $400 million of property insurance, including business interruption coverage. This insurance is comprised of multiple layers of coverage underwritten by 11 separate carriers or syndicates, all of which are currently rated A- or better by a major rating agency. The insurance provides $400 million of coverage per occurrence for a “Weather Catastrophe Occurrence” and at least $100 million on an annual basis for flood coverage. As previously disclosed, the Company was preliminarily advised by one of its carriers (Westport Insurance Corporation) that it believes that Hurricane Katrina was a flood occurrence. The Company intends to vigorously oppose any effort by any of its insurance carriers to limit their obligations under the policies by improperly characterizing the losses sustained by the Company. Westport has since paid the Company the entire $25 million of coverage under the policy underwritten by that carrier and agreed that such payment does not diminish the Company’s flood coverage under that carrier’s policy. The Company has reserved all rights to sue that or any other carrier for “bad faith” or any other reason in asserting its full rights under law and under its insurance policies. At this time, the Company intends to file both a property damage and business interruption insurance claim related to its Casino Magic Biloxi property. In accordance with GAAP, the Company wrote down by $57...
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...Advertising Consumer Midterm Paper Revised Fall 2014 Name: Zeina El Zein Professor: Marilyn Cohen Advertising is not merely a way of selling goods, it is a true part of the culture of a confused society. - Raymond Williams Advertisements have shifted drastically from the 1920’s up until now; this change is heavily influenced by psychological advertising and the technological changes that took part during that time. Due to current events happening in the 1920’s advertising began to be geared to consumer fears, needs and desires in order to promote brands and products. In 1921 Listerine the company came up with what was called an American epidemic known as “chronic halitosis;” the goal of this creation was to convince Americans that it was a medical condition and the best solution to it was their newly created product. The company’s marketing campaign was a great success and brought high revenue to them; this was made possible through their advertising team who knew exactly what to tackle: the insecurities of Americans. The advertisements often included images in sexual or romantic settings in order to emphasize the importance of the need of the product in order to be socially acceptable. In this essay I will be looking at two different Listerine advertisements one dated from the 1920’s and another one from 2010, while evaluating the technical as well as psychological changes that occurred. By the time of the 1920’s the field of advertising experienced a...
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...Francis Parkman was born on September 16, 1823, and died on November 8, 1893. He has written many other books besides the Oregon trail. He was a Horticulturist and taught it as a proffer for some time to. He was born in Boston, Massachusetts and his dad was a minister. Francis had poor health and was sent to live with his grandfather. In 1846 Francis Parkman and Quincy Shaw traveled to St.louis and then to Kansas up to the Missouri River. Their main goal was to get to the Rocky Mountains that was 500 miles from the river. People usually didn’t want to go to the Rocky Mountains because most people who went in the Rocky Mountains died or couldn’t be found. Francis and Quincy traveled on a wagon till they got to Westport. Once they arrived at...
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...Annotated Bibliography Name Institution Hert, J. (2009). Sports medicine In the United States. Westport: Greenwood Press. Hert (2009) provides imperative evidence on the inadequacy of nutritional facilities through a study that was done on some students from the sports units of Hacettepe, Ankara and Gazi Universities in Ankara. From this study, it was noted that many students in the sports department including their coaches were not aware of their nutrition value even as they pursued their sport courses. This piece of study is important as it gives facts concerning availability of nutritionists in the universities and knowledge of students concerning their diet. In the paper, this source gives a general picture of the situation and can hence be used as a starting point. Baechle, T.R. (2008). Essentials of strength training and conditioning. Champaign: Human Kinetics. This source also provides important information concerning the major topic. The author of the book highlights the importance of healthy feeding in football and how lack of nutritional facilities in a sports college negatively affects the success of the footballers and athletes. Baechle (2008) also insists that most of the universities in America lack nutritional facilities thus affecting success of many American footballers. Biols, N. (2010). Sports, body and health. California: California University Press. This book also forms important source information for the paper. The writer tries...
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...Correction System The correction system is one of the umbrella sections of criminal justice that is mandated to deal with lawbreakers and offenders. Primarily, the correction system serves three main functions of punishing, protecting and correcting the criminal offender. In America, the government agencies work together with correction systems to ensure that these responsibilities are met. Also referred to as the penal system, the correctional system is charged with the duty of administering jurisdictions, especially to community based programs, parole and probation victims. This paper is a description of the history of correctional systems in America and discusses two needs that require to be fixed so that correction systems run more safely and efficiently. History of correction systems in America The history of the correctional system in the United States dates back to the 17th century during which imprisonment as a form of punishment had begun to become popular (Roth, 2006). The American Revolution largely contributed to the efforts of initializing a system that would deal with law offenders. During this period, prisons in the form of detention facilities and dungeons were commonly used in different parts of America. The efforts of building prisons in and around America began in three major waves were the first wave began during the infamous Jacksonian Era (Stanko et al, 2004). This era led to extensive use of imprisonment and heavy labor as a way of punishing penalty...
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...Culture Attitude towards Abortion Shekemia Figueroa November 6, 2009 Developmental Psychology PSYC 331 Fall Semester 2009 Attitudes toward Abortion in different cultures Abortion is one of the most divisive issues in today society. Abortion is the termination of unwanted pregnancy by destruction of the fetus. It is one of the oldest methods of fertility control and one of the most widely used. It has been and is practiced in all regions of the world. In preliterate societies a woman whose pregnancy is unacceptable to the community, a woman who has broken its rule about appropriate sexual partners or the number of children, a pregnant widow, an unmarried girl or a girl too young, a woman who has had sexual intercourse with outsider or whose pregnancy is the result of an adulterous relationship is expected to have an abortion (Simon, 1). Abortion rights advocates argue that since the fetus develops inside of the woman’s body and since the outcome of the pregnancy will profoundly affect the woman’s life; abortion must remain a woman’s choice in some cultures (Cozic p. 52). In other cultures they believe that abortion should not be a woman’s personnel choice. People have different opinions on whether or not a fetus is consider a human being. Some culture attitudes toward abortion are different than others and they expect the decision to be made by their views on abortion. In 1992 the overall (national) abortion rate was 26 per 1,000 women ( Francome, p. 22). African...
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