1. ENRON CORPORATION
Introduction of company:
Enron Corporation was present in Houston, America and was the largest marketer of natural gas transmission network in North America. Its pipelines are present across 36000 miles in North America. A magazine named FORTUNE stated this corporate as “MOST INNOVATIVE”.
Enron Corporation was a merger company. Houston Natural Gas (HNG) and InterNorth merge with each other in May 1985. HNG was formed in 1920s and provide gas to retail customer in Houston. In 1970 they decided to sell their retail business for the sake to concentrate only on gas exploration and production. After 8 years in 1984 the financial statement of company shows the asset of $3.7bilion, sales of $2billion and profit of $123million.
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Enron also introduces itself in the water sector with the company name azurix which later on floats in the NYSE. Azurix failed to become successful in the water sector.
Enron was the second largest company in power sector of U.S. but in Oct, 2001 this company was filed as bankrupt.
Reason for Bankrupt:
Enron Corporation performs well in the U.S and its stock price was also very high as compare to other companies in energy sector.
But due to some frauds this company can be filed as bankrupt in Oct, 2001. After Kenneth lay, the CEO of the company was Jeffrey Skilling. He develops the staff of executives and well known person Andrew Fastow was CFO of the company. Fastow was very competent and skillful person in the gas field industry.
These two people with their staff put many frauds and blunders in the financial statement of the company. Financial statement of the company does not show the actual debt investment of amount. They also pressurized the audit committee (Arthur Anderson) to ignore the issue. They also misled BOD’s of the company.
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Parmalat
Introduction of company:
Parmalat is an Italian milk distributing company. It is multinational company having many branches in different companies. It produces long lasting milk using ultra high temperature process. This company first introduce in 1961. Calisto Tanzi was founder of Parmalat. Lactalis is its parent company. Headquarter of Parmalat is present in Collecchio, Italy.
The main products of Parmalat are Milk, Dairy products, fruit juice and tea. Company has more than 140 production units and number of employees are 36000. This company is listed in the stock exchange of Italy named Borsa Italiana.
In 1961 Calisto opened a small pasteurizing milk plant in Parma which later on converts into multinational company. Two decades after the formation Parmalat acquire many of the companies and also provide variety of food and dairy products. Due to this reason the share price rise and make records. At that time the value of company was €3.7 billion.
Company was first listed in Milan Stock Exchange in 1990. Now company provides its products almost in the entire world.
Company also faces many problems during its age. The years 2001 to 2003 were not good for the Parmalat. In 2003 company was bankrupt by the
Introduction Blake Goodwin is the CEO of Goodwin Wealth Management. He was deciding to hire a consultant to make an assessment of his situation. Three large companies had expressed interest to acquire Goodwin Wealth Management. In the fall 2007, Ice Financial Income Fund, First Canadian Band, and Brawn Financial Corporation were the potential suitors and they had made offers to acquire the company. Blake Goodwin had to decide whether to sell the company and if he sold it, which buyer was the best one.
How Did John D. Rockefeller Affect America? What do you think it would take to make our imprint on America? To end up in the history books, being studied by the the generations after, and then the generations after and so on. Just as John D. Rockefeller had done, because almost everything you do would not have been possible without his big business ways and his discoveries.
Rockefeller had a great idea; he stepped down from his power and gave parts of the company to other people.” Just nine years after the company broke itself into pieces in the face of antitrust legislation, those pieces were again reassembled in a holding company. In 1911, however, the U.S. Supreme Court declared the new entity in violation of the Sherman Antitrust Act and illegal, and it was again forced to dissolve.” Rockefeller attempted to gain control of his business again but the government was one step in front of him this time, and they said that it violated their law which made it
Rockefeller and his business partners at Standard Oil (then called the South Improvement Company) began to buy out all of their competitors at extremely low rates, since they could no longer afford to stay in business (Tarbell, 70-97). Rockefeller and those involved in his monopoly were able to profit from the affair. Oil drillers, small-time traders, and anyone who dared speak against the tyrannical deal were unable to compete (Bryan). Tarbell writes that he was “unhampered… by any ethical consideration” and that he had obtained the companies “by assault” (102-103). This was not where Rockefeller’s reign of terror ended, however; it was just where it began.
Enron Analysis Enron is a great play which presents a dry story about business in a colorful and cartoonish way and impressed me with a variety of elements, including video, music, choreography, and dance. This is a play depicts the spectacular collapse of a Texan energy giant-Enron. As an audience, I witnessed how a business empire was built on shadows, accruing debts of 38 billion dollars and finally going bust in this two hours and thirty minutes play. In the following passage, I will describe, analyze, and interpret this play both about its script, including characters and plots, and its production, such as the videos, stage props and customs.
The AIG Scandal 2005 started when AIG management was issuing a press release describing its third quarter earnings in 2000 to the public. The report showed that the premium of AIG was significantly increasing, while its loss reserves was decreasing by $59 million. However, according to many industry analysts, along with the positive earnings, AIG in fact should show an increase in its loss reserves as well. This caused the investors of AIG suspected that AIG was drawing down its loss reserves to boost its profits. The suspicious of the investors has unfortunately led to the falling of AIG stock price from $99.60 to $93.30 on New York Stock Exchange (NYSE).
This proves that throughout the case, Cendant Corporation wasn’t acting fully ethical nor with the desired fiduciary actions to their investors and the auditing team in this case being Ernst&Young. Aside from the trust being broken apart between both, there was never a sign of an internal control inside Cedant. Therefore, there shows that the corporate governance for Cendant Corporation didn’t have signs of existence as well. Most frauds that were occurring before the implementation of the SOX-2002, had top management such as in Cendant that didn’t have care for the ethical performances as much as in today’s corporate world with more regulations in hand by the government. At the end, Cendant had filings against them concerning their corporate governance
Montreaux Chocolates USA Case Key Questions Discuss the key challenges and marketing issues Andrea Torres must address at this time. Why do you feel these issues and challenges are key to the success of the new product line? The first and most important issue is the name for the new Chocolate. Apollo has a share of 15.4% in the US market in the field of the confectionery product, making it the second highest after the Fischer on the market in year 2011. Such a large share of the market will mean a strengthening of relations of the Apollo with its confectionery products.
In order to appreciate the success of a city you must first know how it was founded. Houston Texas was founded a few months after the Texas War for Independence (where colonists rebelled against the Mexican government to claim the province of Texas) in 1836 (2015, June 20). Two brothers New York City real estate promoters, J. K. and A. C. Allen, bought 6,642 acres of land from a Texas settler known as T.F.L. Parrot (2015, June 20). The Allen brothers decided to name their newly acquired land after the hero of the Texas War, General Sam Houston. Colonists began flocking to the city to be for its busy seaports and railroads, and Houston was advertised as “where 17 railroads meet the sea.”
Eileen Foster was the Executive Vice President of Fraud Risk Management at Countrywide, and later served in the role of Senior Vice President of the Mortgage Fraud Investigation Division at Bank of America after the two companies merged (Foster, n.d.). It was her responsibility to investigate mortgage origination fraud and reporting suspicious activity to regulators and the company’s Board of Directors. After several years of seeing a lot of suspicious activity and blatant acts of fraud she found that the company was playing party to this activity. Any employee who reported fraud and wrongdoing to Employee Relations were being transferred, demoted, harassed or terminated. When Foster reported her concerns to Countrywide’s Internal audit to investigate, the company not only chose to conceal her allegations from Bank of America, but it also directed employee relations to investigate Foster for wrong doing.
NESTLE Nestle is a multinational company which has got its headquarters in Vevey Swiss. By the measure of its revenues it is the largest food and beverage company in the world. The Nestle company began around 1860s. It was started by a person called Henri Nestle when he came up with the first baby formula.
Background WorldCom, once known as one of the most powerful telecommunication organizations of the world, is now studied as a case of a fraudulent company that carried out unethical financial activities to cover its weakening position in the market. After some aggressive investment decisions, the company started to witness huge financial pressure. The management used various forged accounting entries to conceal its weakening position. Cynthia Cooper, Vice President Internal Audit, discovered the unethical activities and raised the issue with the management and relevant departments and received bitter responses. She carried out internal audits in her own capacity with her colleagues and compiled evidence against fraudulent activities.
Nestle is considered one of the largest food and beverage company worldwide. Nestle first opened its factory in 1866 in New Zealand and have successfully grow and recognize all over the world. Today, nestle own branches almost in every country in Europe, South America, Asia and other continents. The products that they produce are coffee, bottled water, milk products, tea, breakfast cereals, biscuits, baby food and many more. Looking at their annual report, their revenues clearly state that they are the most preferred food and beverage.
First an overview of its ethical issues shall be presented, followed by the company’s attitude toward corporate governance and its CSR activities shall be discussed. For a brief introduction of the company, Nestle is a Swiss-based, food and beverage producer that is known worldwide. Nestle has existed for more than 140 years. As to this date, with more than 8,000 brands and global sales of over $100 billion the company is the largest food and beverage manufacturer around the world.
Department of Management Studies Marketing Assignment-1 on Nescafe Submitted by Arpit Gupta MS14A017 Table of contents Contents Table of contents 2 Introduction 3 BRAND 3 About product in WORLD 3 NESCAFE IN INDIA 3 The 4 P’s applied to Nescafe 4 Product 4 Promotion 4 Price 5 Place 5 SURVEY ANALYSIS 5 SEGMENTATION , TARGETING AND POSITION OF NESCAFE 6 Segmentation 6 Targeting 7 Positioning 7 COMPETITORS 8 PRODUCT LIFE CYCLE 8 SWOT ANALYSIS OF NESCAFE 10 BIBLOGRAPHY 10 INTRODUCTION BRAND Nestle is a Swiss based multinational food and beverage company Nestle was founded in the year 1867 by Henri Nestle (German Pharmacist) in Switzerland.