Bernard Ebbers Bernard Ebbers is Canadian Businessman who is well known today for his connection in one of the most mentioned frauds in the history of the United States. His beginnings trace back to Mississippi where he emerged as administrator of a hotel chain. Later Ebbers got involved in important mergers and acquisitions. The business grew rapidly, and in few years, he became a tycoon in command of one of the most important telecommunication companies in the world. Years later, however, his involvement
In the public eye, Bernard Ebbers seemed like an ideal pillar of the community in which he worked in. Ebbers volunteered and was engaged religious functions, served meals to the needy, lived in a modest house and invested most of his wealth in company stock (Johnston n.d.). Bernard Ebbers did all of these good acts in the in public eye, but behind the doors of WorldCom Bernard Ebbers ran the company with fear, intimidation, and manipulation in order to get the result he wanted. This can clearly be
WorldCom & Bernie Ebbers Case Study Keith Tewell University of the People The notorious saga surrounding WorldCom and the actions of its CEO, Bernie Ebbers, could be described as poor decision-making, greed, denial, deception or all of the above. In the final analysis, the driving factor behind the deviant behavior that lead the company to ruin was the business strategy of WorldCom's CEO, Bernie Ebbers (DiStafano, 2005). As CEO, Ebbers avoided internal company conflict at all costs,
In 1983, while in a small coffee shop in Hattiesburg Mississippi, Bernard Ebbers developed the business concept that would eventually become the second largest long distance telephone company in the United States, WorldCom (Romar and Calkins). In 2002, the company that Bernard Ebbers grew from the ground up declared the largest bankruptcy in United States history. The unethical and illegal accounting treatments that WorldCom participated in eventually led to the demise of the company and a new
Cameron, 2014, p. 16). Two individuals for comparison are Bill Gates and Bernard Ebbers. These two individuals come from different backgrounds but are both very successful in the leadership of their companies. The one major difference between the two is their life’s outcome. Bill Gates took his company, Microsoft to one of the world’s most profitable companies and retired to lead a life of philanthropy. While Bernard Ebbers also grew his company, WorldCom, to
States behind AT&T, was founded in 1983. The company starts their business under the name “Long Distance Discount Services” (LDDS), providing long distance telecommunication services. The company was profitable from the start. In 1985, Bernie Ebbers became the company’s CEO. The company changes its name to WorldCom in 1995. During the 1990’s, the company starts to grow through series of successful acquisition and merger. However, during the late 1999, the company’s performance begins to decline
Assessing audit risk correctly and completely is important to the beginning of a successful audit. Not only should an auditor have an understanding of the individual risk factors of the company itself, but also how those risk factors are affected by external influences. A crucial external influence affecting audit risk is the state of the economy. When an economy enters a recession or an economy bubble bursts, there is a greater likelihood that inherent risk and control risk will increase. These
Richard Breeden focused heavily on the role governance played in the downfall of WorldCom and his report details several central objectives that he hoped to achieve with his proposal. His initial objective was to change the way the executives were compensated to better protect the shareholders’ interest. He tries to accomplish this by limiting equity share, capping CEO compensation, and limiting severance pay. The fraud that WorldCom engaged in could be traced to the executives, but was ultimately
was acquired by WorldCom. They worked closely together. Mr. Ebbers always relied on Mr. Sullivan’s approval before taking a decision. They accomplished together many successful acquisitions. Overall, they had good relationship based on mutual trust. They were considered one of the best pairings in American business in the late 90s. Later during the investigation process Mr. Sullivan stated that he was significantly pressured by Mr. Ebbers to install suspicious accounting practice. In WorldCom’s fraud
In 1984, Long Distance Discount Service (LDDS) was created by Murray Waldron and William Rector in Hattiesburg, Mississippi and began operations as a long distance reseller. Bernie Ebbers was named CEO the next year. Ebbers was able to grow the company through numerous acquisitions and mergers over the course of 15 years. After expanding around the globe the company changed their name to WorldCom. (Ferrell 1) WorldCom was able to complete 65 acquisitions in this time and became an industry leader
stock prices and dubious practices within the organizations to keep the public unaware. Bernie Ebbers was the founder and CEO of WorldCom. He took a small telecommunications firm and transformed it into an industry giant before it collapsed into bankruptcy in 2002. The stock prices of WorldCom began to fall in 2000 and in order to prevent the price from falling further WorldCom made mass loans to Ebbers to stop him from selling his stock. He initiated the fraud and false reporting. He did not give
Bernard Marx, being a male Alpha, is the type of person who just doesn’t really fit in. While just about all people are very open about their thoughts and personal feelings, Bernard is very secretive about many of his thoughts and actions. For instance, when Lenina tries to talk to him about “having her,” his face goes pale and he insists that they discuss it in private (pg 58). He seems to be very concerned about what people would think if he started talking about that kind of stuff in front of
In the excerpt from King Lear by William Shakespeare, Lear states that there is a relationship between one’s wealth and justice; where the richer are given more leniency when it comes to justice, while those who are not as wealthy receive less grace from the law. Lear argues that the wealthy are virtually above the law when tried for a crime, while the poor are unfairly tried and even receive the harshest of punishments. Though there have been many cases of many celebrities and million-dollar bigwigs
The Importance of Bernard in Death of a Salesman All of the characters in the performance Death of a Salesman have special traits that are indicative of their personality and literary purpose in the piece. Each serves a particular purpose and symbolizes distinct goals, functions, or qualities. The author places every character in a specific location to contrast, or emphasize another character’s shortcomings, mistakes, or areas of strength. For this purpose, Bernard, a character in Death of
Work of Bernard Lonergan ABSTRACT: The theory of agency, it has been claimed, seems to involve two strange notions: on the one hand, that of a self who is not merely an event, but a substance; and that of causation, according to which an agent, who is a substance, can nevertheless be the cause of an event. The understanding of the conscious subject as constituted by the operations of experience, understanding, judgment and decision, proposed by the Canadian philosopher and theologian, Bernard Lonergan
Bernard Bolzano-Pedagogue ABSTRACT: Bernard Bolzano (1781-1848), the famous logician and mathematician, worked from 1805-1819 as a religious professor at the Prague University. His studies focused on three main themes: (1) ethical education, including a rather liberal sexual education as well as the problems of the coexistence of Czechs and Germans in one country (with foresight into some of these matters before the rise of extreme nationalism); (2) social problems, where he formulated for the
Analysis of Bernard MacLaverty's My Dear Palestrina My Dear Palestrina’ is a cleverly written short story by Bernard MacLaverty. It is about this young boy called Danny who discovers his musical talent and goes to this piano teacher called Miss Swartz. Their friendship develops and seem to be a formidable partnership until Danny is torn away from his beloved music lessons because of Miss Schwartz private life. Fitted into the story are some important themes that still continue to exist in today’s
Stereotypes Explored in Judy Mann's The The Difference: Growing Up Female in America and Bernard Lefkowitz's Our Guys Gender stereotypes are common in the United States today, even though many men and women have been working hard to defeat it. The task is made difficult however, when society in general implants the idea of gender roles into the mind of a child. Two authors, Judy Mann of The Difference and Bernard Lefkowitz of Our Guys face the issue of gender roles and stereotypes, and how they
Symbolism in Bernard Malamud's The Natural The role of symbolism in Bernard Malamud's The Natural is important in helping the reader understand the theme and meaning of the novel as well as the time period in which it took place. Malamud¡¦s use of symbolism defines the character of Roy Hobbs and shows how the events occurring around him affected his decisions and, eventually, his career. Symbolism in The Natural takes the form of characters, such as women who strongly influenced Roy; historical
Analysis of Arms and the Man by George Bernard Shaw "Arms and the Man" starts with gunfire on a dark street in a small town. The romantic and willful Raina is about to begin her true-life adventure by sheltering the handsome fugitive Bluntschli, enemy of her equally handsome fiancé Sergius The setting of the play is in war-torn Bulgaria, and focuses not only on the romance between the young people of the play, but the atrocities that go on during war times and the ability of people not so very