was founded in 1955, as company Materiales de Fierro Monterrey. It was not until 1970 when Villacero was consolidated and expanded its activities in steel processing services. In November 2006 Villacero and C & F acquired a significant share of Adelphia Metals, the third largest distributor in North America rods. In 2007 Villacero formed a strategic alliance with ArcelorMittal to form a joint trading company to serve the domestic and US markets. With over 55 years of experience, Villacero is a
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Time Warner Cable 200 8 A N N U A L R E PO R T Time Warner Cable is the second-largest cable operator in the U.S. and a major provider of communications and entertainment services to homes and businesses. Our technologically advanced, well-clustered operations serve about 14.6 million customers in 28 states, with our largest operations located primarily in five geographic areas: New York State (including New York City), Texas, Ohio, the Carolinas and Southern California (including Los Angeles)
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The NYSE, also known as the New York Stock Exchange, was formed by twenty- four New York City stockbrokers, in 1792. (Money-Zine, (2012). For a company to be listed in the NYSE, it must have in excess of 2,200 shareholders, and have an average daily trading volume of at least 100,000 shares. In other words, the company has to be big, very profitable, in order to be listed. NASDAQ is another well known stock exchange. It was developed in 1971, and is the first electronic stock exchanged in the world
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Corrective Action……………………………………………………………………..4 V. Summary..………………………………………………………………...4 VI. References………………………………………………………………...5 II. Why Transparency? Due to many of the scandals that have arisen in recent years; Enron, AOL Time Warner, Adelphia Communications and other corporations according to Forbes (2002, Patsuris). Due to these scandals, the United States government stepped in and started making regulatory changes such as disclosure requirements and better detailed reporting of off-balance
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Enron: The Smartest Guys in the Room Summary After a two and half hour checking dictionary and writing notes, I finally understood this movie. Indeed, it’s a great movie with a tragic and thought-provoking ending. As the movie, it is complicated to say that whose responsibility is the most. Inside Enron The U.S. Senate’s Permanent Subcommittee on Investigations listed high risk accounting, inappropriate conflicts of interest, extensive undisclosed off-the-books activity, and excessive
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compiled of eleven titles and a set number of non-negotiable deadlines for companies to adhere to. SOX was created to protect investors from the large amount of scandals and bankruptcies in 2000. Companies like Enron, Tyco International, World Com and Adelphia collapsed which cost investors billions of dollars. With SOX the investors would have not lost as much but they still would have lost some. Sox just insure that the financial records are accurate and reliable for investors to see how the companies
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Stock Options Stock options are a privilege given to an employee to purchase shares of company stock. They give the employee the right to buy common stock from the company at an agreed upon price, also known as the “strike price.” If the value of the stock increases above the agreed upon price, the employee gains additional profit, other than their compensation, from the sale of the option. The purpose of stock options is to give the holder a certain bind to the company’s success. Stock options
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Summary Unethical behavior in organizations creates many intractable problems which climax in fraudulent acts. When behavior in an organization is not ethical regulations are broken, and the likelihood of legal suits increase. Fraud in Enron and Adelphia in the early 2000s led to big bankruptcy filings resulting in huge losses in investments. Employees also lost jobs as well as significant portions of their retirement savings. Most of the fraud in these companies were committed or influenced by senior
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the accuracy of corporate financial statements, and increased the oversight role of boards of directors The bill was enacted as a reaction to a number of major corporate and accounting scandals including those affecting Enron, Tyco International, Adelphia, Peregrine Systems and WorldCom. These scandals, which cost investors billions of dollars when the share prices of affected companies collapsed, shook public confidence in the nation's securities markets. Children's Internet Protection Act Schools
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Introduction “In market-driven societies, ambitious people are expected to pursue their interests vigorously, and the line between self-interest and greed often blurs” (Sandel, 2009, p. 15). For businesses such as WorldCom, Adelphia and Sunbeam, this greed resulted in fraudulent accounting activities that left shareholders vulnerable and left the public untrusting of company financial reporting. High-profile company scandals such as these beg the question of whether ethical practices were properly
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