the nation’s largest healthcare providers specializing in rehabilitation. HealthSouth was founded by Richard M. Scrushy in 1984 and went public in 1986. Scrushy served as its Chairman of the Board from 1994 to 2002. The company was incorporated in January 1984 as Amcare Inc. before its name was changed to HealthSouth Rehabilitation Corporation in May 1985. In January of 2003, Mr. Scrushy reassumed the position of CEO. HealthSouth grew rapidly during the 1980’s and 1990’s. This growth was
Introduction Richard Scrushy of HealthSouth Medicare could face years in prison, allegedly for changing the account figures and inflating the company’s to make him rich. Richard Scrushy was CEO of HealthSouth, the Fortune 500 healthcare company that he founded in his hometown of Birmingham. The SEC and the Justice Department allege that HealthSouth Company falsely inflated its profits by almost $3.1 billion -to push up the price of its stock. One of his chief financial officers blew the whistle by
HEALTHSOUTH: THE RISE AND FALL HealthSouth: The Rise And Fall Abstract Richard Scrushy (Scrushy) had a vision and was driven by his leadership and entrepreneurial abilities. Scrushy was the mastermind and major creator of HealthSouth Corporation (HealthSouth). Scrushy served as chairman and Chief Executive Officer (CEO) of the corporation for more than 20 years. A Biographical Sketch: Richard Scrushy and HealthSouth. Retrieved March 22, 2005, from the World Wide Web: http://www.richardscrushy
the biggest cases in history where the hunger to have a profitable business drove the executives of a well-known chain of orthopedic hospitals to engage in numerous unethical and illegal accounting behaviors is the case of HealthSouth. In 1984 Richard Scrushy started AmCare, which later changed its name to HealthSouth,
There are families being pushed out of their homes, out of the city and the communities that they want to stay in. (Haney), Suzanne. "Street Wise" This is major impact on the city, from this comes segregation and the economy fails. Mayor Richard Daley and his administration promised people in Chicago affordable housing and now Daley has gone back on his word. Where has all that money gone that Mayor Daley has promised to millions of people who continue to struggle everyday? If you take
Richard Joseph Daley, the grandson of Irish immigrants, was born in the Bridgeport area of Chicago on May 15, 1902. He was graduated from De La Salle Institute in 1918 and worked in the stockyards for several years before studying law. While studying, he worked as a clerk in the Cook County Controller's office. In 1936 Daley married Eleanor Guilfoyle, and the couple had three daughters and four sons. One son, Richard M. Daley, served in the Illinois Senate and as Cook County state's attorney before
ethical collapse similar to Enron and WorldCom. The company, Healthsouth, was one of the largest healthcare provider led by CEO, Richard Scrushy, one of the most mesmeric and authoritative leaders of all times. During its heyday, HealthSouth employed about 50,000 employees and had 1700 locations nationwide (McCord & Magasin, 2010). Nevertheless, both Healthsouth and Scrushy received much attention for ethical and criminal issues for overstating th... ... middle of paper ... ....edu/docview/194912771
Introduction This report will attempt to clarify the culture at HealthSouth with Richard Scrushy as the CEO; how his management style contributed to the company’s ethical and financial damages and his own downfall. There will also be an analytical comparison of other companies and CEO’s who had similar company cultures. The adverse impact on HealthSouth stakeholders will be discussed along with an analysis of the judicial outcome and fairness of punishments, with a conclusion on how ethics played
their financial position as better than it was. The founder, Richard M. Scrushy, the executive team, and many employees were involved in this process, all
Leadership is defined as a process whereby an individual influences a group of individuals to achieve a common goal (Northouse, 2007). Theoretically, there are three basic ways to explain how people become leaders: the trait leadership theory, the great event theory and the process leadership theory (Bass, 1990). Trait theory is a situation where some personality traits may lead people naturally into leadership roles. A crisis or important event may cause a person to rise to the occasion, which brings