The idea was to protect the owners of companies from lawsuits. Actually the rich saw it as a way to lower their taxes, fool the uneducated, and to be irresponsible for their cheating and lies. Wal-Mart, which started out selling all American made products, soon started selling products made in sweatshops in foreign counties and we the people did not care and we scooped up the bargains. Now, these Super Corporations, who answer only to the board members and owners, cut the employees pay, use part timers to avoid benefits and count their billions while families are starving. We the people allowed these corporations to get the upper
Also, when employees are laid off there is less income tax to be collected and to make things even worse, former employees can collect unemployment benefits from the government. These unemployment benefits cost the government money. Massive layoffs of employees are one of the worst setbacks an economy can
And he didn’t have to deal with a 7.2 magnitude earthquake” (Dorish). These are cold hard facts that Dorish is stating, and they make sense. Players really don’t have many options. Not many are going to be able to play overseas, and if they are then they are going to get paid much less than they would playing in the states; even with the pay cut. Anyone reading this would agree that the players seem out of luck, and that the owners are going to win in this battle of millionaires versus billionaires.
There were some WorldCom directors who made entries, but didn’t know what they were for and GAAP support (Mintz & Morris, "Case 2-1 Cynthia Cooper and WorldCom," 2011). An audit committee meeting took place, where the truth was reveled about the “prepaid capacity” and the misleading entries. It was mentioned that there were good business reasons but no accounting rationale for the entries (Cynthia Cooper and WorldCom). According to Mintz, “the due care standard calls for continued improvement in the level of competency and quality of services by performing professional services to the best of one’s abilities” (Mintz and Morris, Ch.1, 2011). Mintz, S. M., & Morris, R. E. (2011).
I work two jobs and maintain my financial responsibility. My big payback is the government’s bad decision indirectly affecting my income. A more fair use of the $700 billion plan would have been to let those who took out loans known to be too much and the institutions that created the loan swim or sink. Then disperse the $700 billion to consumers like me who maintain our responsibility. I could certainly use a portion of the money and would most certainly spend it frivolously.
The Supreme Court ruled that it was unconstitutional because it did not give the presidential administrations the power to remove board members (Younglai et al., 2010). Another major con of SOX is the cost to comply with the audit requirement. Many lawmakers fear that these costs are pushing firms to move their operation oversees (Sarbanes-Oxley Act. (n.d.). Overall, SOX has caused companies to be more forthcoming with their financial data at the same time instilling more confidence from the public.
The stock market was allowing people to buy stocks on margin. Buying stocks on margin is the same as borrowing money to buy stocks; this caused the Dow Jones to rise from 191 in 1982 to an astounding 381 in September of 1929. When the market crashed many people simply could not afford to pay back the loans and subsequently lost everything. Because of investors losing
The teams have less money for promotions, advertising, and field or court maintenance. Caps help keep player from getting too greedy and wanting more money. Most NBA players today are money hungry and overly-confident in their abilities. If you buy the player for what their worth, and sell them for what they think they’re worth, you would make an extremely heavy profit. If a talented player is on a successful team, they’re going to want to stay on that particular team regardless of a few million dollars.
When dead and decomposed, we are still capable of being labeled by our monetary value. The more one’s life insurance is worth, the worthier one will be. Unfortunately, Willy Loman makes the discovery that his death holds more money than does his life. Despite Charley’s efforts at convincing Willy that “nobody’s worth nothin’ dead (98),” the salesman proceeds to end his life for the “$20,000 proposition (103).” While some readers may have frowned upon his actions, they are not far from our own. In an attempt to increase the value of their lifeless bodies, millions of people invest money every month into a life insurance policy.
These cost are result of companies either not paying their workers compensation insurance premium or under paying, by lying about the size of their work force. For example in California a construction company would deliberately misreport wages paid to its workers to avoid paying all of the payroll taxes and state insurance premiums. According to the deputy District attorney Paul Flick, “if an employees salary was $11/hour and worked 40 hours/week, the company would report it as the employee was paid $22/hour and worked 20 hour/week to save more than half of worker compensation insurance cost for that employee.” Across the map on the east NY state alone employer committing worker compensation insurance fraud is costing 1 billion a year. This causes a cycle effect that leads to the honest companies to make up for the lack of premium paid and as a result they end up paying higher premium. Also some injured workers don’t receive the worker compensation benefit that they are entitling to which leads to raise in medical costs.