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On the Edge: WorldCom's WhistleblowerIn March 2002. when WorldCom was struggling to coordinate and integrate the complex mess created by the 65 companies it had acquired, WorldCom's then highly respected chief financial officer, Scott Sullivan, moved $400 million from a reserve account and recorded it as "income ~ in the company's public financial reports. Alerted to this, Cynthia Cooper, the perfectionist head of WorldCom's internal audit department, began to secretly examine the company's books at night. She soon discovered that Scott Sullivan (named a "best CFO" by CFO Magazine in 1998) and David Myers, WorldCom's controller, for years had publicly reported billions of dollars as "capital expenditures~ when they were really operating costs, ignored uncollectible receivables, and reported as "income" what were really reserve funds, and did all this with the help of Arthur Andersen, the company's auditor and accounting firm. Though angrily threatened by Sullivan, and risking her job and career, on June 20, 2002, an apprehensive Cooper courageously met with the audit committee of WorldCom's board of directors and told them what had been going on. On June 25, WorldCom's directors announced the company had inflated its profits by over $3.8 billion- an amount later raised to $9 billion- in the 9reatest accounting fraud in history. Sullivan and Myers were arrested; WorldCom shareholders lost $3 billion; 17,000 WorldCom workers lost their jobs; Arthur Andersen was shutdown for shredding evidence of other accounting frauds at other firms. Today, many WorldCom managers and employees do not speak to her and she sometimes cries. Says Cooper: "There Is a price to be paid. [But] it comes back to the values and ethics that you learn .... The fear of losing my job was secondary to the obligation I felt.1. What does WorldCom's experience teach us about corporate wrongdoing?
A large vessel had experienced an internal leak of a coolant. It was Friday and the work crew needed to get the vessel dried out to allow maintenance to be performed on Monday. Using C-clamps, they attached thick steel plates to the two vessel openin..
Many people feel that unions and collective bargaining actually have a heavy downside that is sometimes ignored. Do you think there is a downside or disadvantage to having unions or engaging in collective bargaining?
What examples or suggestions can you provide based on your experiences?
What is the World Heritage? The location of the Galapagos Islands. How is Darwin related to the Galapagos Islands? Many of the plant and animal species that inhabit the Galapagos Islands are endemic. What does this mean?
In your essay, provide an overview of the compliance process, and offer your judgment either supporting or criticizing a particular method. Make suggestions for improvement at the end of your evaluation.
Discuss race in contemporary art. Identify particular artists who look at race in their art and discuss the issues they raise and the nature of their art.
Capitalist societies share three basic ideals. Which of the following is NOT one of these ideals?
What is the most appropriate data model? What are the advantages of using GIS? What are the disadvantages of using GIS?
We will now look at the question of good faith and fair dealing in relation to the performance of a contract. Read the case of Brunswick Hills Racquet Club v. Route 18, found on page 392 of your text
Social responsibility, ethics, environmentally friendly - these are all important social concerns today. The general public sometimes actually makes decisions about who to do business with based on things like environmental efforts.
Attempt to put in order the sequence of events that lead up to your exclamation.
Describe a specific example of life in Ancient Rome that is found in contemporary life in the U.S. Describe one way that you see a particular tenet of Roman philosophy reflected in the modern Western worldview.
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