this article is about a man by the name of Lee Kun-hee who was the chairman of Samsung who used $64 million from a corparate slush fund to buy art for his wife Ra Hee Hong Lee. however now the questons is where are the paintings. i find this guy stupid for a couple of reasons. one is he buys $7 million pieces of art. another is, didnt he hear of the tyco scandal. he did basiclly the same thing as Dennis Kozlowski(the tyco guy)
David Li was caught in an insider trading scandal, but it seems unlikely that he will be hurt by it all. Li is the Bank of East Asia Chairman and CEO. The US Securities and Exchange Commission’s decided to fine him heavily last week for insider trading. He had tipped off friends and family about the impending bid by Rupert Murdoch of DOW Jones.
I don't know why people do this in stock markets. Its basically cheating. Stocks are a risky business, and if you can't play fairly like everyone else, you shouldn't be in the business.
In 2002, Cooper, the former vice president of Internal Audit at WorldCom, made a decision that would reveal one of the greatest corporate scandals in U.S. history. Cooper discovered that WorldCom's crafty accounting methods turned a $662 million loss into a $2.4 billion profit. And rather than bury her findings and look the other way, Cooper made the decision to file her report, which unleashed a firestorm of investigations, media coverage, and accusations. I think that its a good thing that Cooper revealed this scandal. I also think that it is pretty insane how a compan can go from a 662 million dollar loss to a 2.4 billion dollar profit. I'm sure they new that someone would eventually find out.
Shortly after taking oath, President George W. Bush became a target a in the Enron Engeries Corporate scandal. The scandal occured when Enron made one of the largest debt cover-ups in history. The corporation rose to seventh on the Fortune 500 list when in reality, there was only a massive debt. The people who were hurt most by this were the employees though. They were encouraged by leaders to invest their life and retirement funds into a "locked" stock purchase. Once the stock crumbled and the corporation folded, they were left with nothing. President Bush was blamed for buying into the corporation when serving as the Governor of Texas.
I believe that this scandal was unbelievably low. The corporation's leaders completely threw their employees under the bus in order to gain a huge profit. In turn, they not only faced a double law suit, but also the shame of knowing that they ruined so many people's lives. President Bush really cannot be blamed though, he most likely was only buying into a very succesful corporation and had no idea there was such a scandal taking place.
Summary: Merck and Company has agreed to pay $671 million to settle claims that it overcharged Medicaid programs for four drugs, including Vioxx and Zocor, and to resolve allegations of improper marketing to doctors, U.S. prosecutors and company officials announced Thursday.
In a case in Philadelphia, Merck agreed to pay $399 million plus interest for improper calculation of Medicaid rebates and its marketing practices. In a Louisiana case, it agreed to pay $250 million plus interest for its rebate practices.
Opinion: I don't know why people try to get away with this kind of stuff. It's stupid. Someone's going to find out so you may as well not do it.
This is about a lawyer who was sentenced to two years of probation. He was sentenced for creating a kickback scheme. He offered kickbacks to people who were involved in lawsuits with big corporations. He made an estimated $250 million dollars doing this for over two decades. He offered money to people to be professional plaintiffs in lawsuits against big corporations.
I believe this is so wrong to offer people kickbacks. It's not right to bribe people with money. To be a plaintiff against a company that didn't do anything wrong isn't right at all. I believe this lawyer should of been punished more than he was. I can't believe he got away with it for two decades.
http://www.msnbc.msn.com/id/22844772/ The secrets of former WallPoint CFO David Colby are now becoming known. The former Wall Street darling, went around the world romancing women, proposing to them, and made extravagenat never-fulfllled promises. In some cases, Colby even transmitted STD's to the women. The women thus sued the corporate executive. Colby was fired by WallPoint last spring for unknown reasons. I thimk this article is just another example of people getting messed up in the head after becoming wealthy. Surely he should have known what he was doing would eventually catch up to him. I guess maybe he thought his powerful status would shield him from the lawsuits.
Former CEO to serve 21 months for backdating Case reveals the severity of punishment of breaking securities laws:
Former chief executive of Brocade Communications Systems Inc., Gregory Reyes, was sentenced on Wednesday to 21 months in prison for tampering with financial records of stock options the company offered. Reyes is also being ordered to pay a fine of 15 million dollars. He was convicted in August of 10 counts of securities fraud.
I think it is good that Reyes got caught doing what he did. I dont understand how people can be so stupid when it comes to stealling money esspecially from big companys.
15 girls claimed they were sexually molested by a dorm matron while atendin a school in South Africa. The school is named the Oprah Winfrey Leadership Academy. This school was set up by Oprah. She begane apologizing almost immideiatly after she was informed of the situation she also says that she is upset that the other teachers at the school were unaware of the situation.
Of course Oprah is allowed to get questions fired at her, but there is no reason she deserves all or even any of the blame. I think is is ironic because Oprah was raped as a child. I think she most likely did everything possible to protect these children in her school.
My artciale was on the Teapot Dome Scandal. The U.S. Secertary is giving no-bid contracts on iol, coal, and timber to land the public campaign.
I didnt no if this was actually a corparate scandal but i thought it was caus it had to do with the like president campiagn witch is like a corparate. But i dont no.. All i no that what they are doing is not right and it is messing with the people. Just to win a campaign i guess they will do anything.
This article was about the founder of Adlphia and his two sons facing criminal charges for hiding $2.3 billion in debts and treated the company as their very own personal piggy bank by buying stock and perks ranging from a private jet to a golf course.
I think this is another classic example of people not being able to be trusted and abusing their power.
A high official in a Hong Kong bank is being hit with heavy fines for tipping off a friend with insder trading information. David Li tipped off a friend about details of Rupert Murdoch's bid on the Dow Jones. Charges are not being pressed but Li and the friends he tipped off are paying back a portion of what they made by selling stocks before they dropped.
I think this guy should have to face a tougher penalty for giving inside information. Martha served some time for selling her stocks from an inside tip. This scandal made more money for these people than martha made. However, it is a foreign country and there rules are different so there isn't much the US can do about it.
http://www.foxnews.com/story/0,2933,184495,00.html This article is about the Compass Scandal that happend with the UN. They used illegal information to win biddings on food support.
This is a horrible thing to do to people who are starving. All these people wanted were food, and all Compass wanted was money.
L. Dennis Kozloski, Tyco international (former) chief executive was indicted on charges of tax evasion and tampering with the company's finances. This was discovered after finding him using company loans and bonuses to buy an extensive list of luxury items. These loans totalled to $600 billion. Kozlowski is currently under trial and could get up to 30 years in prison if convicted.
I think that people should be honest with the company that they are working with, when it comes to spending only the money that they make. I think that Kozlowski should actually get a longer amount of jail time because $600 billion is a very large sum of money.
The telecommunications company (worldcom)said it had fired Chief Financial Officer Scott Sullivan, and accepted the resignation of senior vice president and controller David Myers, after an internal audit found improper accounting of more than $3.8 billion in expenses over five quarters.
I don't think its right for the all of these top people in a lot of company's like this commit fraud. I believe that if your going to take on a career like this, then you should learn to be an honest person. If you have the intensions of committing a crime like this then its going to come back to get you, and you shouldn't be in this industry.
15 comments:
http://www.luxist.com/2008/01/05/corporate-art-or-corporate-scandal-for-samsung/
Corporate Art or Corporate Scandal for Samsung
this article is about a man by the name of Lee Kun-hee who was the chairman of Samsung who used $64 million from a corparate slush fund to buy art for his wife Ra Hee Hong Lee. however now the questons is where are the paintings.
i find this guy stupid for a couple of reasons. one is he buys $7 million pieces of art. another is, didnt he hear of the tyco scandal. he did basiclly the same thing as Dennis Kozlowski(the tyco guy)
http://www.asiasentinel.com/index.php?option=com_content&task=view&id=1039&Itemid=32
David Li was caught in an insider trading scandal, but it seems unlikely that he will be hurt by it all. Li is the Bank of East Asia Chairman and CEO. The US Securities and Exchange Commission’s decided to fine him heavily last week for insider trading. He had tipped off friends and family about the impending bid by Rupert Murdoch of DOW Jones.
I don't know why people do this in stock markets. Its basically cheating. Stocks are a risky business, and if you can't play fairly like everyone else, you shouldn't be in the business.
http://www.arkansasbusiness.com/article.aspx?aid=102696.54928.114825
In 2002, Cooper, the former vice president of Internal Audit at WorldCom, made a decision that would reveal one of the greatest corporate scandals in U.S. history. Cooper discovered that WorldCom's crafty accounting methods turned a $662 million loss into a $2.4 billion profit. And rather than bury her findings and look the other way, Cooper made the decision to file her report, which unleashed a firestorm of investigations, media coverage, and accusations.
I think that its a good thing that Cooper revealed this scandal. I also think that it is pretty insane how a compan can go from a 662 million dollar loss to a 2.4 billion dollar profit. I'm sure they new that someone would eventually find out.
James Hampson
http://www.guardian.co.uk/enron/story/0,11337,632153,00.html
Shortly after taking oath, President George W. Bush became a target a in the Enron Engeries Corporate scandal. The scandal occured when Enron made one of the largest debt cover-ups in history. The corporation rose to seventh on the Fortune 500 list when in reality, there was only a massive debt. The people who were hurt most by this were the employees though. They were encouraged by leaders to invest their life and retirement funds into a "locked" stock purchase. Once the stock crumbled and the corporation folded, they were left with nothing. President Bush was blamed for buying into the corporation when serving as the Governor of Texas.
I believe that this scandal was unbelievably low. The corporation's leaders completely threw their employees under the bus in order to gain a huge profit. In turn, they not only faced a double law suit, but also the shame of knowing that they ruined so many people's lives. President Bush really cannot be blamed though, he most likely was only buying into a very succesful corporation and had no idea there was such a scandal taking place.
http://www.msnbc.msn.com/id/23051867/#storyContinued
Summary: Merck and Company has agreed to pay $671 million to settle claims that it overcharged Medicaid programs for four drugs, including Vioxx and Zocor, and to resolve allegations of improper marketing to doctors, U.S. prosecutors and company officials announced Thursday.
In a case in Philadelphia, Merck agreed to pay $399 million plus interest for improper calculation of Medicaid rebates and its marketing practices. In a Louisiana case, it agreed to pay $250 million plus interest for its rebate practices.
Opinion: I don't know why people try to get away with this kind of stuff. It's stupid. Someone's going to find out so you may as well not do it.
http://www.msnbc.msn.com/id/23114753/
This is about a lawyer who was sentenced to two years of probation. He was sentenced for creating a kickback scheme. He offered kickbacks to people who were involved in lawsuits with big corporations. He made an estimated $250 million dollars doing this for over two decades. He offered money to people to be professional plaintiffs in lawsuits against big corporations.
I believe this is so wrong to offer people kickbacks. It's not right to bribe people with money. To be a plaintiff against a company that didn't do anything wrong isn't right at all. I believe this lawyer should of been punished more than he was. I can't believe he got away with it for two decades.
http://www.msnbc.msn.com/id/22844772/
The secrets of former WallPoint CFO David Colby are now becoming known. The former Wall Street darling, went around the world romancing women, proposing to them, and made extravagenat never-fulfllled promises. In some cases, Colby even transmitted STD's to the women. The women thus sued the corporate executive. Colby was fired by WallPoint last spring for unknown reasons.
I thimk this article is just another example of people getting messed up in the head after becoming wealthy. Surely he should have known what he was doing would eventually catch up to him. I guess maybe he thought his powerful status would shield him from the lawsuits.
http://www.msnbc.msn.com/id/22685773/
Former CEO to serve 21 months for backdating
Case reveals the severity of punishment of breaking securities laws:
Former chief executive of Brocade Communications Systems Inc., Gregory Reyes, was sentenced on Wednesday to 21 months in prison for tampering with financial records of stock options the company offered. Reyes is also being ordered to pay a fine of 15 million dollars. He was convicted in August of 10 counts of securities fraud.
I think it is good that Reyes got caught doing what he did. I dont understand how people can be so stupid when it comes to stealling money esspecially from big companys.
http://www.msnbc.msn.com/id/21711142/
15 girls claimed they were sexually molested by a dorm matron while atendin a school in South Africa. The school is named the Oprah Winfrey Leadership Academy. This school was set up by Oprah. She begane apologizing almost immideiatly after she was informed of the situation she also says that she is upset that the other teachers at the school were unaware of the situation.
Of course Oprah is allowed to get questions fired at her, but there is no reason she deserves all or even any of the blame. I think is is ironic because Oprah was raped as a child. I think she most likely did everything possible to protect these children in her school.
http://www.calendarlive.com/books/bookreview/cl-bk-lutz10feb10,0,1436126.story
My artciale was on the Teapot Dome Scandal. The U.S. Secertary is giving no-bid contracts on iol, coal, and timber to land the public campaign.
I didnt no if this was actually a corparate scandal but i thought it was caus it had to do with the like president campiagn witch is like a corparate. But i dont no.. All i no that what they are doing is not right and it is messing with the people. Just to win a campaign i guess they will do anything.
http://www.mywire.com/pubs/USATODAY/2004/02/23/381016?extID=10051
This article was about the founder of Adlphia and his two sons facing criminal charges for hiding $2.3 billion in debts and treated the company as their very own personal piggy bank by buying stock and perks ranging from a private jet to a golf course.
I think this is another classic example of people not being able to be trusted and abusing their power.
http://www.asiasentinel.com/index.php?option=com_content&task=view&id=1039&Itemid=32
A high official in a Hong Kong bank is being hit with heavy fines for tipping off a friend with insder trading information. David Li tipped off a friend about details of Rupert Murdoch's bid on the Dow Jones. Charges are not being pressed but Li and the friends he tipped off are paying back a portion of what they made by selling stocks before they dropped.
I think this guy should have to face a tougher penalty for giving inside information. Martha served some time for selling her stocks from an inside tip. This scandal made more money for these people than martha made. However, it is a foreign country and there rules are different so there isn't much the US can do about it.
http://www.foxnews.com/story/0,2933,184495,00.html
This article is about the Compass Scandal that happend with the UN. They used illegal information to win biddings on food support.
This is a horrible thing to do to people who are starving. All these people wanted were food, and all Compass wanted was money.
http://www.washingtonpost.com/wp-srv/business/scandals/primer/index.html
L. Dennis Kozloski, Tyco international (former) chief executive was indicted on charges of tax evasion and tampering with the company's finances. This was discovered after finding him using company loans and bonuses to buy an extensive list of luxury items. These loans totalled to $600 billion. Kozlowski is currently under trial and could get up to 30 years in prison if convicted.
I think that people should be honest with the company that they are working with, when it comes to spending only the money that they make. I think that Kozlowski should actually get a longer amount of jail time because $600 billion is a very large sum of money.
http://www.cbsnews.com/stories/2002/06/26/national/main513473.shtml
The telecommunications company (worldcom)said it had fired Chief Financial Officer Scott Sullivan, and accepted the resignation of senior vice president and controller David Myers, after an internal audit found improper accounting of more than $3.8 billion in expenses over five quarters.
I don't think its right for the all of these top people in a lot of company's like this commit fraud. I believe that if your going to take on a career like this, then you should learn to be an honest person. If you have the intensions of committing a crime like this then its going to come back to get you, and you shouldn't be in this industry.
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