bankruptcy and April 2004 when it emerged from bankruptcy as MCI, company officials worked feverishly to restate the financials and reorganize the company. The new CEO Michael Capellas (formerly CEO of Compaq Computer) and the newly appointed CFO Robert Blakely faced the daunting task of settling the company's outstanding debt of around $35 billion and performing a rigorous financial audit of the company. This was a monumental task, at one point utilizing an army of over 500 WorldCom employees, over
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A History of Enron Enron is an energy company based in Houston, Texas that deals with the energy trade on an international and domestic basis. It was formed in 1985 when Houston Natural Gas merged with InterNorth. After several years of international and domestic expansion involving complicated deals and contracts, Enron was billions of dollars into debt. All of this debt was concealed from shareholders through partnerships with other companies, fraudulent accounting, and illegal loans. Enron
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“prepaid capacity” and reversing allowances without sufficient justification. The corporate motive for this fraud was to meet Wall Street’s expectations for growth and also to hide real, deteriorating operative results, which were caused by the bursting dot-com and telecom bubbles. Apart from this, there were a lot of problem that arises from the
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Celine Dion. The “one big happy family” festive atmosphere typical of Wal-Mart events had been overshadowed by employee and shareholder disquiet over the Mexican bribery scandal that had erupted in April 2012 concerning payments by Wal-Mart Mexico On May 17, Wal-Mart had reported results for the first quarter of its financial year. Sales were up 8.6% on the previous year, operating income was up 8.3%, and return on equity for the 12-month period was 18.1%. The day before the shareholders’ meeting
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Current Events and U.S. Diplomacy Contemporary International Problems POL 300 March 4, 2012 The Reagan Doctrine was no different. Presupposing a world of evil and good, it operated on the theory that evil, was in the form of the USSR, and was getting the upper hand. To Reagan and his advisers, examples of Soviet treachery, including support for Marxist movements around the globe, were numerous; moreover, Soviet adventurism, from the Horn of Africa in the 1970s to
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Berkshire Hathaway AFIN250 Monday 5pm Christopher Lam 43820832 Savneet Kambo 44677987 Jason Weng 43885772 Table of Contents Executive Summary ............................................................................................................................2 Culture, a catalyst for Berkshire’s success ...........................................................................................2 Heir to Berkshire Hathaway .................................................
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Executive Summary It is said that the contemporary world survives on the information and this is a precious asset for any organization. Any information has to be organized, stored, managed carefully and should be handled perfectly so that it would be available on demand and facilitate easy access. In this case, it is no doubt that Business Intelligence systems (BIS) are excellent for the modern business. There have many reasons that Business Intelligence systems play an essential role in the success
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Licensed to: iChapters User Licensed to: iChapters User Business Ethics: A Stakeholders and Issues Management Approach, Fifth Edition Joseph W. Weiss VP/Editor-in-Chief: Melissa Acuña Acquisitions Editor: Michele Rhoades Developmental Editor: Daniel Noguera Editorial Assistant: Ruth Belanger Sr. MarComm Manager: Jim Overly Marketing Manager: Clinton Kernen © 2009, 2006 South-Western, a part of Cengage Learning ALL RIGHTS RESERVED. No part of this work covered by the copyright herein may be reproduced
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consumers assumed an unprecedented debt load. As part of the housing and credit booms, the amount of financial agreements called mortgage-backed securities (MBS), which derive their value from mortgage payments and housing prices, greatly increased. Such financial innovation enabled institutions and investors around the world to invest in the U.S. housing market. As housing prices declined, major global financial institutions that had borrowed and invested heavily in subprime MBS reported significant losses
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International News on the Internet: Why more is less Chris Paterson This study examines the intersection of news agency political economy and cyberspace information exchange between 2001 and 2006 in an effort to determine if online news has corrected – or replicated – the inequities and limitations of the international journalism provided by ‘traditional media’. Through comparisons of content at major online news sites and the output of major news wholesalers, this research is the first to
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