arbitragers take in this deal? How would their position change if the board appeared to favor the Qwest offer? 5. Consider the WorldCom-MCI merger and the Qwest-US West merger. Should the boards of MCI and US West have accepted the offers (without the benefit of hindsight)? What is the obligation to shareholders? Was that obligation fulfilled? What about WorldCom and Qwest, did their shareholders benefit? 6. Which offer should MCI accept? What approach should Verizon take to win the takeover
Words: 281 - Pages: 2
The evolution of the culture of our corporations has evolved in many ways and for many reasons. There were many different factors that played an important role in developing the change in the evolution of corporations. Societal and cultural influences played a major role in the early development of the objectives and reason for existence of corporations. Political forces have and will continue to play an influential role in the structure of corporations and the responsibilities corporations have
Words: 3581 - Pages: 15
Andres Garcia Memorandum Date: March 3, 2012 To: President of the United States Fr: Andy Garcia Re: Holding them Accountable Mr. President, Trust and ethics are very important factors in the business world. We have to create a number of different solutions that help play a key role in building proper business ethics from employees, shareholders, board of directors, the CEO and the American people. I feel that all businesses need to promote accountability, transparency, and compliance
Words: 1626 - Pages: 7
of the video is an interview with Walt Pavlo of MCI Worldcom. He explains his case and the steps that lead him to take the actions that landed him in prison. While he is telling his story two gentalmen describe how Walt’s story relates to the world of auditing as a whole and what steps a company and auditors need to take to avoid cases of fraud. 1. What were the three major fraud factors that led Walt Pavlo to commit fraud at MCI Worldcom? * Meeting Analysts’ Expectations * Compensation
Words: 325 - Pages: 2
these documents are usually considered in litigation affairs. Generally, the field of accounting was undergoing a major overhaul; before the recent economic crisis that has devastated some parts of the western world, the accounting scandals regarding WorldCom and Enron pushed the field towards change. Accounting in general was put under scrutiny as a result of increasing white collar crime and the economic crisis pushed that process even faster and further. Ergo, there was an increasing need to have forensic
Words: 1055 - Pages: 5
http://hwsoloutions.com/?product=leg-500-week-3-assignment Visit Our website: http://hwsoloutions.com/ Product Description PRODUCT DESCRIPTION LEG 500 Week 3 Assignment, Although there are many references to famous whistleblowers, such as those at WorldCom and Enron, whistleblowing cases can happen in any company and whistleblowers’ actions can have dire consequences for the company, employees, and stakeholders. There are inherent qualities that typify whistleblowers, such as being altruistically motivated
Words: 367 - Pages: 2
Sarbanes Oxley Act The Sarbanes Oxley Act was enacted in 2002 as a reaction to a number of major corporate and accounting scandals which included Enron, Tyco International, Adelphia, Peregrine Systems, and WorldCom. This Act which is commonly known by the acronym “SOX” was put in place to protect investors from unethical companies practicing questionable accounting standards. The Senate refers to this Act as the “Public Company Accounting Reform and Investor Protection Act” and the House refers
Words: 334 - Pages: 2
Introduction 1/5 Overview of Accounting Environment Chpt 1 E1-1, 6, 7, 8 1/10 Review Accounting Process Adjusting Entries and Financial Statement Preparation Chpt 2 pp. 50-83 E2-1,2,3,4,8, 11; P2-5, 7 Top Dawn Espresso Problem* 1/12 WorldCom Case WorldCom Case 1/17 Accrual vs. Cash Flows; Inferring JE’s; Statement of Cash Flows Chpt 2 pp. 83-93; Chpt 4 pp. 198-207 E2-14, 17; 1/19 Chemalite Case Chemalite Case 1/24 Income Statement Presentation Chpt 4 pp. 168-198 E4-4, 6, 10; P4-1
Words: 308 - Pages: 2
agencies such as the FTC. Unfortunately, when there are high dollars at stake, businesses seem to be more interested in protecting their “bottom line” rather than protecting their employees and consumers. In the late 1990’s major corporations such as WorldCom, demonstrated probably one of the most unethical practices in US
Words: 430 - Pages: 2
Triangle 5 Types of Fraud 11 INSTANCES OF FRAUD 13 Enron Corporation 13 Adelphia Communications Corporation 17 AOL Time Warner, Inc. 20 Bristol-Myers Squibb Company 25 Global Crossing Limited 27 K-Mart 30 Tyco International, Ltd. 34 WorldCom 37 HealthSouth Corporation 41 CONCLUSION 45 Appendix: SOX Titles and Sections List 48 Works Cited 52 INTRODUCTION Between the years 1998 and 2002, the United States suffered a time in which several large companies engaged in
Words: 11749 - Pages: 47
