in the army, decided to join “La Croix-Rouge Française” which was looking for volunteers. But before going in Nigeria, they had to signed a contract which said that when they'll came back in France they had no right to testify. Back in Paris, Bernard Kouchner one of the French doctor, decided to broke the contract, and explained everything in a French Magazine “le Nouvel Observateur” in January 1970 with the motto “Back from Biafra, a doctor accuse” : “With almost nothing, we were able to help
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WorldCom 1. a. Estimated Future Line Costs (L) XXX Line Cost Expense (E) XXX b. Line Cost Expense (E) XXX Estimated Future Line Costs (L) XXX Cash (A) XXX c. The fundamental
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Over time, many unethical accounting scandals existed. The WorldCom scandal is one of the most known unethical scandals. WorldCom submitted the largest bankruptcy filing in United States’ history after admitting improperly accounting for more than $3.8 billion dollars in expenses (Moberg, 2012). The company used acquisitions to spurt large growth. Two of WorldCom’s acquisitions included MCI Communications and MFS Communications (UUNet). This caused WorldCom to appear more favorable on Wall Street
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Tay-Sachs Disease Tay-Sachs Disease is a neurological disorder that is passed on from parent to child in the same way that other genetic traits are passed on. The first section of this paper, on pathophysiology, will go into this subject further. It will explain not only how the trait for this disease is passed from generation to generation, but also the specific mutations that cause it. This section will explore the trait that is expressed when the gene is turned on, how it effects cell metabolism
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Corporation in 1999 becoming a $129 billion merge, but before the two companies finalized the US department of Justice and the European Union stepped in and didn’t want this to happen, for this merge had the possibility of creating a monopoly. Bernard Ebbers was the CEO of WorldCom at the time, he became very wealth with WorldCom common stock. Without the merge of Sprint, WorldCom Stock started to decrease over time, and the banks were pressuring Ebbers and he had to cover margin calls on his WorldCom
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Imagine working for a company that provides everything you need financially from an employer, good benefits, decent salary and stock options that make other companies within the industry jealous. How many other middle managers in the industry can claim a net worth of over one million dollars? During WorldCom’s highest point, some of the middle managers could honestly make such a claim because they had so much stock and the price seemed to just keep going up and up. The stock splits, and because of
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Kane’s unnatural focus on his public life directly leads to his lonely retirement. Kane’s focus is always on his public life and what the public saw of him. This is shown through when he hurts Susan Alexander by continuing to publish Leland’s review, due to stubbornness, and fear of being judged by Leland. Another example of Kane keeping his concentration on his public life, is when he refuses to stand down when he is caught out with Susan Alexander, this shows he does not want to withdraw his previous
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WorldCom Case Study Update 20061 by Edward J. Romar, University of Massachusetts-Boston, and Martin Calkins, University of Massachusetts-Boston In December 2005, two years after this case was written, the telecommunications industry consolidated further. Verizon Communications acquired MCI/WorldCom and SBC Communications acquired AT&T Corporation, which had been in business since the 19th Century. The acquisition of MCI/WorldCom was the direct result of the behavior of WorldCom's senior managers
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Effects of Auditing Standards Business auditors are a valuable and much needed method of making sure that business and corporations operate within the law. Auditing businesses is the best method to determine if a business is keeping their methods legitimate and that they are not doing anything illegal such as falsifying profit reports. Standards for all manner of businesses from the small store to the international multi-million dollar industry are getting higher and frankly, this is a change that
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Between 1999 to 2002, WorldCom overstated its pretax income by at least $7 billion. The largest deliberate miscalculation in the history. Write down 82 billion of its reports assets. Stock value from $180 to nearly worthless Employees lost job, and worthless retirement account The bankruptcy influence 20 million retail customer. On government contracts, affect 80 million social security beneficiaries. Background Line-cost expenses are a significant cost for all long-distance
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