John Nicole was a real property appraiser who did appraisal work for Eastman Kodak, Inc. Kodak at the request of one of Kodak’s now-former employees, Mark Camarata, who served as Kodak’s director of state and local taxes while employed there. Charles Schwab was the former assessor for the town of Greece, New York, an area that included Kodak headquarters. Kodak is both the largest employer and the largest property owner in the town of Greece. Schwab made reductions completed by Nicolo and Camarata, saved Kodak $31,527,168 in property taxes over a fifteen-year period. But, Schwab did not make those reductions as a matter of assessor policy fond feelings for Kodak, or the goodness of his public servant heart. He made those reductions at the behest of the other two in exchange for payment.
The essence of the arrangement was that the appraiser agreed to split the tax savings fee with the assessor in exchange for the reduction and with the Kodak employee in exchange for hiring him. Camarata entered a guilty plea and agreed to cooperate with federal authorities in their prosecution of the other two of the property tax triumvirate who have been charged with fifty-six counts of fraud, money laundering, and other federal crimes.
When Kodak learned of the schemes, it immediately entered into discussions with the town of Greece for the reappraisal of its properties. Kodak also filed suit against Camarata and others seeking reimbursement from them for the fees that were paid as part of the scheme.
Rabu, 13 Januari 2010
Review of: case 11.2 The Baptist Foundation : Funds of the Faithful.
The Baptist Foundation of Arizona (BFA) was a real estate investment nonprofit that did quite well at its beginning stages. The BFA had a psychology going with its fund and with recruiting investors. Each year,at its annual convention, the BFA distributed its "Book of Reports", a financial compilation given to the convention attendees. However, the "Book of Reports" could be given to others as a means of recruiting new investors. And it is mean they lie the investor. The effect is Arizona economy ant its real estate market were sinking fast.
Because BFA's financial statements looked phenomenal, more investors joined. But by the time the Baptist Foundation of Arizona collapsed, about 11.000 investors would lose $ 590 million. Arthur Andersen, the auditor for BFA,identified "earnings management" as a significant problem at BFA. However, Andersen did not see the earnings management as enough of a problem to halt its certification of BFA's financial statements.
Because BFA's financial statements looked phenomenal, more investors joined. But by the time the Baptist Foundation of Arizona collapsed, about 11.000 investors would lose $ 590 million. Arthur Andersen, the auditor for BFA,identified "earnings management" as a significant problem at BFA. However, Andersen did not see the earnings management as enough of a problem to halt its certification of BFA's financial statements.
Review of: Reading 8.12 Adam Smith : An Excerpt from The Theory of Moral Sentiments
In common life,however,when we judge of any person's conduct,and of the sentiments blame another man that the excesses of love, of grief, of resentment, we not only consider the ruinous effects which they tend to produce, but the little occasion which was given for them.
Usually, one man is the measure by which he judges of the like in another. I judge of your sight by my sight, of your ear by my ear, of your reason by my reason,of your resentment by my resentment, of your love by my love. I neither have nor can have, any other way of judging about them.
Usually, one man is the measure by which he judges of the like in another. I judge of your sight by my sight, of your ear by my ear, of your reason by my reason,of your resentment by my resentment, of your love by my love. I neither have nor can have, any other way of judging about them.
Review of: reading 4.1 The Moving Line
In business area,we usually difficult to hold out in the right ways. For first time and the second time,
maybe we can say "no" to doing unethical,but if its happen again and again,usually,our principle start to be loose. We starting to think,"yeah.. If I doing little bit an unethical or wrong,it is not be a problem. And more often temptation comes, we are be more familiar,more usual,and more often to doing this unethical.
And until we arrive to the point of we are be addiction. We do not just a wait for the chance to doing this unethical,even we are search the chance to doing this unethical
maybe we can say "no" to doing unethical,but if its happen again and again,usually,our principle start to be loose. We starting to think,"yeah.. If I doing little bit an unethical or wrong,it is not be a problem. And more often temptation comes, we are be more familiar,more usual,and more often to doing this unethical.
And until we arrive to the point of we are be addiction. We do not just a wait for the chance to doing this unethical,even we are search the chance to doing this unethical
Senin, 11 Januari 2010
Review: case 9.2 Thinning Diet Industry
Diet programs are sold through celebrity endorsements. The diet industry usually use celebrity to promote their product via advertisement. And in fact,since then,the diet industry has grown 15 percent per year with total annual revenues topping $3 billion.
Some diet companies have overpromised quick weight lose and the promises have grown increasingly excessive.
Sometimes,diet product has indirect disadvantages. And I am very surprised when I read in this case, the CEO one of diet industry revealed that fully 90 percent of those who lose weight rapidly on the quick-loss programs regain the lost weight and often more within two years.
And he testified in their industry,they had no expertise and they just really sales personnel.
The other side,often happen the women who using current diet product had their gallbladder removed after participating in the current diet program. So,they sued the current diet company. Because allegedly,the gallbladder damage caused by the diet program. Even though they had no previous diagnosis of gallbladder disease. And as response to the suits,one of diet company stated that obese people are vulnerable to a variety of disease,including gallbladder disease,and indirectly they stated that it is not their false.
And a marketing consultant has observed about the diet industry,the diet industry has philosophy that even if you lose some customers you'll get new ones. To some extent in this industry,a lot more depends on how good your marketing is than your product. And it means,they use the sell-marketing,and they don't care about the product.
Some diet companies have overpromised quick weight lose and the promises have grown increasingly excessive.
Sometimes,diet product has indirect disadvantages. And I am very surprised when I read in this case, the CEO one of diet industry revealed that fully 90 percent of those who lose weight rapidly on the quick-loss programs regain the lost weight and often more within two years.
And he testified in their industry,they had no expertise and they just really sales personnel.
The other side,often happen the women who using current diet product had their gallbladder removed after participating in the current diet program. So,they sued the current diet company. Because allegedly,the gallbladder damage caused by the diet program. Even though they had no previous diagnosis of gallbladder disease. And as response to the suits,one of diet company stated that obese people are vulnerable to a variety of disease,including gallbladder disease,and indirectly they stated that it is not their false.
And a marketing consultant has observed about the diet industry,the diet industry has philosophy that even if you lose some customers you'll get new ones. To some extent in this industry,a lot more depends on how good your marketing is than your product. And it means,they use the sell-marketing,and they don't care about the product.
Sabtu, 09 Januari 2010
Review : case 7.13 United,GM,and the Pension Obligations
Some companies was relieved its pension liabilities,for example United Airlines. It is so strange,how a company can be permitted to renege this liabilities,whereas so many protection were built to keep the employees right,like Employee Retirement Income Security Act(ERISA). And the answer is,there were loopholes in the accounting processes for pension fund reporting. It permitted United and many others can report pension fund numbers look better than it actually was. The loopholes allowing the pension liabilities looked small and the assets can be very rich. To cover this problem,there are some regulation,like Pension Protection Act of 2006. The purpose is to close loopholes and provide greater assurance for employees and the available fund for their retirement. And the effect of the changes is to require companies to pay their pension liabilities according to the numbers that they have reported in their financial reports.
But other problem come,
because of the extensive benefits employess have at companies,he will choose to give up his $100.000 per year to retire,spend more time with grandchildren,
and he will retire comfortably.
But other problem come,
because of the extensive benefits employess have at companies,he will choose to give up his $100.000 per year to retire,spend more time with grandchildren,
and he will retire comfortably.
Jumat, 01 Januari 2010
Review of reading 3.1 "THE SOCIAL RESPONSIBILITY OF BUSINESS IS TO INCREASE ITS PROFITS"
The basic reason why the doctrine of "social responsibility" involves the acceptance of the socialist view that political mechanisms,not market mechanisms. A corporate use a Corporate Social Responsibility to develop a good image to the consumer. The purpose is their corporate or their brand have place in heart of their consumer. The consumer will think that one corporate cares if the corporate have CSR program. Although many corporate doesn't realization it. Because the consumer imposible to control the CSR program each time. And there is a question here, how the CSR can increase the profit? Little bit difficult to believe it, a good image of one brand can takes a big attention of the consumer. Because,the corporate often use the product to collect the contribution to help the society that have a problem. Like AQUA CSR Program, if the consumer buy a bottle of AQUA,it means he had contribute to help the other society that need a help. So,with this image, the consumer will choose AQUA than the other brands.
Chapter 5.8 Marianne M.Jennings,Corporate Officers with Messy Personal Lives: Is It None of Our Business?
A Look at The Scandals of Officers in the Scandalous Companies
They All Turned On Each Other
frequently if happened a cases in a companies,so it cases will be bigger and its will involve some employees to that case.
For example,
in the Century cases,
we see that now more people that involve to this case. And this case
more wide and creep everywhere..
the scandals could go on,and they do,even when executives retire.
perhaps the message is that everyone turns on everyone else in a corporate scandal in order to save themselver.However,there is a chicken and egg issue here. Did they turn on others because of the business scandal or was the business scandal the result of their characters flaws in the first place?
The "extreme" personal lives
many CEO argue that they are not do the embezzlement trial,but they just do technically in business. They always make themself save with this arguement,although what they do prooved absolutly wrong
why personal conduct matters
we treat to search who are the closest to us and,at least in theory,the most important is telling. If they can be treated with disregard and breaches of trust,it is not a leap in logic to conclude that the same character can see its way clear to be dishonest with those who are not even acquaintances.Such a theory of "morality matters" will hardly be embraced for the sake of morality. However,there are other reasons for invoking a standard of personal moral fiber as a requirement for employment at the executive level. The following subsections make the case for immorality dismissals
They All Turned On Each Other
frequently if happened a cases in a companies,so it cases will be bigger and its will involve some employees to that case.
For example,
in the Century cases,
we see that now more people that involve to this case. And this case
more wide and creep everywhere..
the scandals could go on,and they do,even when executives retire.
perhaps the message is that everyone turns on everyone else in a corporate scandal in order to save themselver.However,there is a chicken and egg issue here. Did they turn on others because of the business scandal or was the business scandal the result of their characters flaws in the first place?
The "extreme" personal lives
many CEO argue that they are not do the embezzlement trial,but they just do technically in business. They always make themself save with this arguement,although what they do prooved absolutly wrong
why personal conduct matters
we treat to search who are the closest to us and,at least in theory,the most important is telling. If they can be treated with disregard and breaches of trust,it is not a leap in logic to conclude that the same character can see its way clear to be dishonest with those who are not even acquaintances.Such a theory of "morality matters" will hardly be embraced for the sake of morality. However,there are other reasons for invoking a standard of personal moral fiber as a requirement for employment at the executive level. The following subsections make the case for immorality dismissals
My opinion about Dana peumakmue gampong..
Dana peumakmu gampong is a program from the goverment of Aceh to give some fund to poor society in each village in Nanggroe Aceh Darussalam province,with purpose to make their life better. This program is a good program,and be a care reflection from the goverment to their society. I think,with this program,there are some new thought that better share the fund to society in the bottom line than this fund flow to the rich society. If this fund flow to the poor society,directly the goverment open a chance to them to develop the microeconomic,and if this fund flow to the big companies,Surely,
only rich man will feel the advantages of this..
This program is good,
but the people that operate this program made a wrong action. I don't know,why this tragedy happened,but in the fact,
this fund didn't accept to poorsociety completely. Moreover,some village still waiting for this fund.
A mistake makes more than one hundren people suffer.
only rich man will feel the advantages of this..
This program is good,
but the people that operate this program made a wrong action. I don't know,why this tragedy happened,but in the fact,
this fund didn't accept to poorsociety completely. Moreover,some village still waiting for this fund.
A mistake makes more than one hundren people suffer.
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