In May of 2011 The SEC filed suit alleging massive fraud against Brooke Corporation’s senior management. The SEC suit alleges that during the fiscal year of 2007 and the first and second quarters of 2008 senior management at Brooke Capital misrepresented the health of their business and its subsidiaries. Brooke Corporation’s business growth strategy relied heavily on its finance subsidiary and franchise fees. The average franchise fee was $165,000 which would have been financed through Brooke Credit Corporation; in the first quarter of 2007 a third of Brooke Corp’s operating revenue was from interest and franchise fees (Phillips, 2007). The same store sales for the first quarter of 2007 were down 3% from the previous year and in the fourth quarter of that year the recession officially started.
The Auditor had found only 3 percent of the total donation went to the university and 5 percent were used for administrative. On the other hand the brothers were the owner of Records of Wheels, then in 2004 it changed its name to Entertainment One Income Fund, and the CEO became Darren Throop. After that the Ierullo’s were not there anymore and the vice president of the Company said the brothers do not have a financial stake there. The CRA had found The Latitude appeared inactive since 2007, and reporting less than 5000 dollars in total assets in 2011. The auditor conclude about 90 percent of the donations were used for Life insurance scheme and only 10 percent went for charitable purpose.
A. Resource Weaknesses: During the first 4 years of the simulation, the most significant resource weakness was the amount of available cash on-hand after all required cash outlays. Impala Athletics began year 11 began with only $5 million available in cash. The lack of available cash prevented the company from expanding plant capacity or pay down existing debt. In addition, the company’s B+ credit rating prohibited the company from obtaining loans with low interest rates.
As previously stated, Hartnett sets record annual profits year after year, produces a quality product and service, and addresses the needs of his customers by his nostalgic and quick service. Kristin Anderson, a business consultant with experience in the field, states, “He may be creating a cult of personality where he gains control through the guise of offering personal assistance…” (Balloon, 1998:63-64) Anderson was then quoted after analyzing Rogers business model, “A manager and owner’s job is not to be a parent figure or a psychologist, nor is it to erase that line between work and home.” (Klara, 1996:46) Hartnett performs some strange team building
Continue to look into the “Andy Defresne” marketing program responsible for the variation. e) Per the Inventory Manger, the increase in inventory is due to a combination of happenings throughout the year. $5,000,000 of the increase is attributable to a decrease in sales and a higher turnover rate. $11,000,000 of the increase in inventory is due to the purchase of materials from suppliers to receive a cheaper rate for the long haul. $3,000,000 of the inventory happened secondary to a reversal of a previous write down, which was incurred in 2002.
Hence, the SEC asked Kodiak Energy to perform a restatement under item 4.02 of the 8k disclosure rules. This item covers non-reliance on a previously filed financial statement and the related audit report. In accordance with the SEC’s request, Kodiak Energy put in a notification of late filing for their 2008 fiscal report and corrected for the transaction errors in March 2009. After the error adjustments, the restated financial reports showed an overall increase of 3.5 million dollars in the reported acquisition cost and related issuance of common shares. After the fiasco surrounding the acquisition of the Thunder River assets, shareholders lost faith in Kodiak Energy.
Manzana Insurance mainly operated in the commercial insurance sector, with property insurance contributing to 65% of its revenues, liability insurance contributing to 20%, and the remainder coming from investment income and miscellaneous specialty lines. Fruitvale, one of Manzana’s smaller branches, specialized on property insurance alone as the other policies were causing them losses. 2. KEY PARAMETERS DIFFRENTIATING FROM GOLDEN GATE The key problem challenging the Fruitvale Branch of Manzana Insurance is diminishing market share and revenues, which can be associated with their incompetency in the following parameters: • The backlog of policies has been building up over the last few years, and the number of new policies and endorsements each year has also been reducing, whereas Golden Gate has reported moderate growth rates. • The renewal loss rate has been increasing at an alarming rate.
Which Wall Street did not have in place or this would have never happen. Their virtues are money, how much they can get no matter what it costs others in the long run. Proof of this is the bail out that the taxpayers paid for. And that the government had to step in to or the economy would have been even worst. (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.
The EHC will receive $2,300,000 from managed care companies and Medicare in three months, but the shortfall at the business must be resolved first. To achieve this, we must determine two cost cutting measures. A loan option must be identified as well. The cost cutting options we have at EHC are reducing benefits, reducing agency staff, downsizing staff, reducing length-of-stay, or changing the skill mix (University of Phoenix, 2015). To achieve a cost saving target of $750,000 for the first quarter the first cost cutting measure I selected is reducing a proportion of the agency contracted staff.
Be relentlessly clear. All good writing instruction repeats this refrain: Show, don’t tell. In other words, illustrate your points with specifics. Example: You want to say someone in your company is a bad boss. Rather than making that general statement, say something like, “He got a promotion based on his assistant’s detailed reports, but then—despite the company’s record profits—denied that assistant even routine cost-of-living raises.” 6.