Next instead of promoting from within, they searched for new blood and hired former Barney’s CEO Allen Questrom. Penney went on to sell one it’s direct marketing unit to raise capital to reduce debt. They restructured the company to focus on its struggling department stores, cutting employees and closing down many stores. By September 29, 2003, the culmination of CalPERS active investment in Penney, JC Penney seemed to right the ship and was able to streamline operations to be more efficient and profitable. Chronology of Events 2/22/00: CalPERS identifies 10 underperforming companies that will serve as their primary focus for corporate governance activism for the 2000 proxy season.
Coleen and five other female employees filed a wrongful termination and sexual harassment lawsuit against BNC when the work environment turned hostile in 2005. According to the lawsuit Coleen was starting to question loans a certain male wholesaler was submitting to her. Upon Coleen evaluating the loan information, she noticed some of the numbers (salaries and value of homes) did not look right. When Coleen mentioned this to the male wholesaler, he in turn told her not to worry about and then began to bribe Coleen so that she would let the loans be accepted. Sylvia Vega Smith, a mother of four children, worked as a wholesaler for BNC and was making commission money hand over fist; $16,000 per month.
Fact: In 1998, Brenda Evans (plaintiff appellant) terminated her employment at Eaton Corporation (defendant appellant) and filed for long-term disability benefits. Eaton Corporation, a multinational manufacturing company that funds and oversees long-term disability benefits plans for its employees, terminated Ms. Evans's benefits in 2004 based on controversial issues pertaining to her medical reports. Ms. Evans sued under Employee Retirement Income Security Act (ERISA) to recover her benefits. The medication that Ms. Evans was prescribed improved her rheumatoid arthritis, yet she still complained of sever back pain from a previous car accident. Her doctors confirmed that these medical problems resulted in her being totally disable.
b. The MD changed Mary’s medication to phenobarbital. In your opinion is this a good change? Why or why not? c. Mary returns to the MDs office in a month and says she doesn’t like the phenobarbital and wants to go back on the phenytoin but it upsets her stomach.
Stewart and Peter decided she would sell her shares for 60 dollars per share. On December 27, 2001 Stewart said, “She did not know whether the phone message Bacanovic left for her was record.” (Martha Watch) Stewart knew, but concealed and covered up the message was recorded in the phone message log. Stewart also stated she talk with Bacanovic. Stewart knew but concealed and covered up she spoke to Douglas Faneuil, not Bacanovic. Stewart also was apart of a conspiracy willing fully and knowingly tried to hamper the SEC investigation on her stock sale by providing misleading information.
It has over 500 stores globally with over 30,000 employees. It was founded in April 1st 1976. Steve jobs and Steve Wozniak first established the Apple1 in 1976, it was hand made by Steve Wozniak. A man called Steve jobs used to be the CEO of Apple but from the screen print below we can see that he resigned from his position in August and a new CEO called Tim Cook has taken over. Since 1976 they have produced many successful and revolutionary electronic products such as the iPod, they have sold
In 2008 the company reached 1 billion in annual sales which made the company really stand out. In 2009, Zappos was listed at #23 on the Forbes list of top 100 best places to work (www.forbes.com). In July on 2009, Zappos was purchased by Amazon.com. The CEO of Zappos had to sell the company because they were concerned that they won’t be able to maintain the same level of customer services that had grown over the year and especially where it was based. The main goal of Zappos is for the customer to have ultimate customer experience each and every time they are in contact with their customer service department whether the service is through phone or email.
The stress that can compel a company to doctor their financial data can override the compromise of ethics within an organization. A look back at the catastrophic financial mistakes of health care organizations in the past illustrates the devastation unethical accounting can cause. HealthSouth provides an excellent glimpse into the horrible consequences when it all comes crashing down. According to Bouchard (2012), "Committing fraud, said the former CFO, had consequences he couldn’t and didn’t foresee. It nearly destroyed him emotionally, which is why he retired to everyone’s surprise in 1997 at the age of 54, just a year after the fraud began.
Once parents, the media and the FTC got involved, this once rising company with a net worth of” $50-$60 million is in financial peril” (Dewer, 2012). Guilting parents into purchasing a $200.00 product, making misleading connections on data and deceiving consumers by misrepresenting themselves with a scientifically proven program has really made parents and watchdog agencies angry. They want their money back and the deceit to
According to rumors on the street, it had long been “about” to be sold. Cadbury had finally made the divestiture official in September 2005. Since then, the Lion-Blackstone consortium had gone through two rounds of bidding as the pool of contenders fell from 40 to seven to three. Orangina had the potential to be a signature deal for both firms: the first consumer deal for Blackstone’s London office and an important win for newly formed Lion, signaling its arrival in the realm of iconic brands with billion-euro price tags. Both firms, however, needed to avoid a third round of bidding.