The chain was officially named Rite Aid Corporation in 1968 and made its debut on the American Stock Exchange. It moved to the New York Stock Exchange in 1970. In 2011, Rite Aid was ranked #100 on Fortune 500 Largest U.S. Corporations The Scandal: The Securities and Exchange Commission filed accounting fraud charges against several former senior executives of Rite Aid Corp. in June, 2002. The U. S. Attorney for the Middle District of Pennsylvania
Chic Paints Plan Introduction to business (Section 4)Which accounting function will you be reviewing?Accounts Receivable/Credit ControlOverview of the business (PC 1.3)How big is the business – staff, offices, turnover?Chic Paints Ltd manufactures and supplies specialist paint products such as those used on boats, cars and industrial machines. It operates business to business. The company was formerly part of Ashstead Plc, but was the subject of a management buyout (MBO) from its previous owners in 2008 by five of its directors, whom had managed the company for many years. Prior to the MBO the Ashstead Plc operated a conglomerate manufacturing a wide range of products but this was considered to be no longer viable and as a result Chic Paints Ltd was sold off. Following the MBO the company moved away from the household paints market and towards the niche market of specialised paints as there is less competition and profit margins are higher.
They structured their bid and they won two parts of the East Side Access Project which totaled more than $1.2 billion dollars. Dragados USA had 70% stake in the project and Judlau held 30% stake. The joint venture went smooth for a while until Dragados USA discovered through internal integrity processes and procedures the DBE’s were not awarded the amount they were reporting to the MTA. The DBE program is set up to ensure that minority and women base businesses get a fair shot at government contracts. The joint venture claimed that they had paid more than $17 million of the $22 million for DBE contracts.
Stakeholder signifies an individual or individuals who take concern or interest in anything, majorly commerce. (Grimsley) CEO is accountable for the failure or the success of the organization. Both the organizations John Deere and the Caterpillar requires the tasks to be carried out efficiently such as marketing tactics, operations financing, firing, human resources, formation of the culture of the organization, hiring, sales, compliance with the protection directives, PR, etc. The entire of these activities are tackled from the CEO. Stakeholders can decide a plan for the commerce.
Riordan Manufacturing Corporate Compliance Plan Justin Perri Law 531 February 6, 2012 Corporate Compliance Plan for Riordan Manufacturing Riordan Manufacturing is plastic manufacturing company concentrating on parts for plastic containers, auto parts, beverage containers and fans. Annual revenues often exceed forty million dollars. The organization has locations around the world, mainly in the US and China. After conducting a survey of departments, processes and documentation, Riordan Manufacturing’s officers might consider some improvement and changes. Following are several issues that could expand into larger problems if the company does not implement and supervise appropriate activities.
Nike’s Corporate Social Responsibility MGMT 6213 – Ethics in the Workplace Wendy Bailey / Thomas Sullivan October 30, 2011 Nike’s Corporate Social Responsibility Nike, Inc., a Fortune 500® company, is a leading producer of sporting equipment, athletic shoes, and athletic apparel. The company employs over 30,000 people worldwide with an additional 500,000 through a complex series of subcontracting agreements. Throughout its history, Nike has undergone a transformation from a competitive business seeking the lowest cost manufacturers, to one that focuses on its corporate social responsibility in every aspect of their operations. This paper will outline unethical claims against Nike, provide a defense of those claims, demonstrate Nike’s evolution, and outline a triple threat recommendation for future success. Allegations of Ethical and Corporate Social Responsibility Lapses Throughout the paper, the author outlines how Nike is sourcing its products in factories and countries where low wages, poor working conditions, and human rights problems are rampant.
Failure of Tyco International Ltd. Tyco International Ltd. is a diversified manufacturing and service company, which is involved in electronic security services, fire protection and safety systems, electrical and electronic components, engineered products and services, and medical products (SEC, 2006, p. 3). Tyco’s company grew from 1996 through the early 2000s with the purchase of more than 1,000 companies. In 2001 revenues increased to $34.04 billion. In 2002, L. Dennis Kozlowski, chief executive officer, and Mark Swartz (former Tyco CFO) were indicted on numerous accounts of grand larceny, securities fraud, and enterprise corruption (Funding Universe, 2012, para. 5).
d. Your firm has audited LVD for the last four years. e. There has been high turnover of key accounting personnel during the last two years. f. The internal audit function reports to the audit committee. g. LVD signed an exclusive distribution contract with another pharmaceutical company to distribute its latest blockbuster drug---Xarmdon. h. During the current year, LVD began leasing a manufacturing facility that is owned by Forge Limited Partners.
According to court documents, between January 2006 and November 2011, Medistat certified, “more than 11,000 Medicare beneficiaries for home health services and had more patients than any other medical practice in the United States”. Over $350 million of unnecessary services were billed to Medicare during this time. In addition to these certifications one of Dr. Roy’s associates is accused of accepting kickbacks in exchange for Dr. Roy’s fraudulent approval of several Medicare beneficiaries. Six other individuals were indicted in connection with Dr. Roy and charges include: one count of conspiracy to commit healthcare fraud, eight counts of healthcare fraud, and two counts of false statements for use in determining rights for benefits and payment by Medicare. If convicted of the largest healthcare fraud case in recent history Dr. Roy could face life in
It allowed its long-term suppliers to have its own routine testing, with additional quarterly spot testing by Mattel. However it failed to specify and ensure testing methods were compliant to Mattel standards. In addition, Mattel’s 200 employees who were responsible for vendor inspection were located in Hong Kong, rather than co-located with Chinese vendors. * Cost-sensitive business environment: Suppliers in China were experience tremendous cost pressure. On the one hand, a concentrated customer base left the manufactures little