THE TROUBLE WITH BACKGROUND CHECKS; Employee screening has become a big business, but not always an accurate one. This article presented instances of people who claimed that background screening firms ruined their chances at job opportunities. In each case the applicants, Ted Pendergrass, Theon Carter, John Griffith, and Ingrid Morales, all have claims that background screening firms have inaccurate information. Ted Pendergrass applied and was rejected for the store supervisor job at Walgreens in November of 2006. The reason, a background screening firm called ChoicePoint, which is the largest screening firm in the United States for corporate employers, had reported to Walgreens that Mr. Pendergrass had a record of “cash register fraud and theft of merchandise” totaling over $7,000.
(Still think we are in a Depression not a rescission) Also the CEO of Enron for conspiracy and multiple counts of fraud is one example of dishonesty, fraud, disregarding one professional responsibility by given themselves Astronomical salaries and enormous benefits this reduces profits of the stockholders, who own the company. (Per the book Bus. 309 pages
What is the controversy surrounding Flex Industries? Discuss the chain of events. The controversy surrounding Flex industries is that the company has paid a bribe to government officials for evading the payment of excise duties. Entrepreneur industrialist Ashok Chaturvedi, the owner of Flex group of companies and the chief excise commissioner Someshwar Mishra were arrested by the Central Bureau of Investigation after it recovered $12,500 from Mishra's office and $12,500 from his car in November 2001. In May 2004, the court exonerated both Chaturvedi and Mishra because of lack of evidence.
Who is Bernie Madoff? Bernard Madoff is currently serving a 150 year sentence in federal prison, orchestrated a multi-billion dollar Ponzi scheme that swindled money from thousands of investors. Unlike the promoters of many Ponzi schemes, Madoff did not promise spectacular short-term investment returns. Instead, his investors’ phony account statements showed moderate, but consistently positive returns, even during turbulent market conditions. In December 2008, the SEC charged Bernard Madoff and his investment firm, Bernard Madoff investment Securitirs LLC, with securities fraud for the multi-billion dollar Ponzi scheme he perpetrated on advisory clients of his firm for many years.
In the article, Devin Leonard (2005) describes the fraud of AIG and AIG’s former CEO Greenberg. Joye discloses that AIG has been improperly booking premiums it receives for workers’ compensation insurance and the CEO Greenberg knows it but does not do anything to stop it. Joye reports the fraud in meetings with Greenberg, Tizzo and the president of AIG but receives no attention. Later, Joye resigns and works for other companies. He keeps silent about what he discovers for many years but he keeps his AIG files and shows them in an investigation on AIG’s accounting fraud from Spitzer.
During an investigation there were many questionable accounting transactions that were brought up, such as large executive bonuses as well as many loans for large amounts of money that were later forgiven without repayment. Kozlowski and Swartz were sentenced to 8 – 25 years in prison ("Investopedia", 2014). Then a lawsuit against Tyco cost the company $2.92 billion in repayment to its investors ("Investopedia", 2014). The biggest issue here was allowing for a CEO and CFO to have too much access to funds. A protocol should be in place that when a sale of stocks is made and no one authorized it then a full audit should take place from a third party or if a loan is going to be made then more then just the CEO and CFO’s approval needs to be given.
She altered the taxpayer information for four people and only gained two- thousand dollars. The potential consequences of committing such a fraud entirely outweigh the financial benefit. Griffin did not get her motivation for personal financial gain like the usual fraud perpetrator. Catherine Griffin modified four tax returns. America is currently in a recession and times are rough.
In 2008, the parent company that owns University of Phoenix online, Apollo Group, was found guilty of securities fraud and ordered to pay $270 million to a group of investors. The unethical dilemma stemmed from a report that was very crucial of the enrolling practices of the school that the company refused to disclose. The company believed that the report was
They have one of the best customer services by having stores that you can take your apple product in to and they’ll try to fix it in 10 minutes or they give you a new one. This is what customers want from a business that takes hundreds of pounds off of them. Apple’s bitten apple logo is recognised around the world. Each year they release a product that’s near on the same with just a few added features but still millions of people buy them, this is because of their renowned reputation in the phone market. Apple use relationship marketing when it comes to their customers as they take personal details such as address, phone number, email etc.
Only six months after Hoover took office, the economy collapsed and the Great Depression began. Many factors caused and contributed to the Great Depression of 1929. One factor would be the overproductions of many goods in the 1920s led to worker layoffs Another factor was that easy credit led to people spending more than they had, and it led to a rapid inflation that eventually caused people to stop buying. The Federal Reserve Bank, created in 1913, did a poor job which also led to the great depression. It did not monitor interest rates to help regulate the economy when overproduction and inflation had started to cause unemployment in 1928-29 and the economy seemed likely headed toward collapse.