Causes The Lack of Internal Control Strategy: As of 1998, WorldCom had been involved in mergers with 60 companies, and there were valued at a little more than $70 billion. WorldCom also merged with MCI Communications Corporation on September 14, 1998, and it was valued at $40 billion (Ashraf, 2011). According to Ashraf (2011), during the 1990s, WorldCom was motivated by the low interest rates and frequently rising stock prices. WorldCom strived to achieve the high-growth strategies
and transoceanic fiber optic networks. This allowed the company to grow financially and increase its customer base. In 1997, WorldCom merged with MCI Communications to become the second largest long distance telephone service behind AT&T. The merger of WorldCom and MCI was the largest corporate merger in US history at that time. Over the next six years, MCI WorldCom successfully acquired 65 other companies in order to expand their services and capabilities even more. Increasing its capacity helped keep
to purchase additional companies. WorldCom mad their biggest acquisition in November, 1997 when they acquired MCI communications for $30 billion in WorldCom stock. In this deal, Bernie Ebbers agreed to assume $5 billion in MCI debt. As a result, the total value of the deal for WorldCom was $35 billion. In contrast, British Telecommunications Corporation made a $19 billion offer for MCI. WorldCom’s offer was 1.8 times the value of the British Telecommunication Corporations’ offer. This made WorldCom
company and a new company, MCI, rising from the rubble of what was WorldCom. There were two main issues that provided pressure for the senior executives at WorldCom to commit fraud. WorldCom became the second largest long distance telephone company because of its execution of a very aggressive acquisition strategy (Moberg and Romar). During the years 1991 through 1997, WorldCom completed 65 acquisitions, the most notable being that of MFS Communications and MCI Communications (Moberg and Romar). At
An oligopoly describes a market situation in which there are limited or few sellers. Each seller knows that the other seller or sellers will react to its changes in prices and also quantities. This can cause a type of chain reaction in a market situation. In the world market there are oligopolies in steel production, automobiles, semi-conductor manufacturing, cigarettes, cereals, and also in telecommunications. Often times oligopolistic industries supply a similar or identical product. These companies
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,
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
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
During the residential weekend, in building the bridge activity we had to build the longest bridge possible. All my teammates were so busy focusing on building a long deck, they forgot about the base that had to be built to support the bridge. I was the only one trying to build a base and I eventually came up with some ideas to try out. Initially it was difficult for me to convince them to focus on the base because they were over-enthusiastic and failed to realize what was important. Later when they
1 Running head: APHASIC PATIENT COMMUNICATION TECHNIQUES 27 APHASIC PATIENT COMMUNICATION TECHNIQUES Aphasic Patient Communication Techniques Graduate Project Dannyel M. Smith Georgia Southern University Communicating with the Aphasic Patient Aphasic patients have something to say, and it?s time they were heard. Imagine one day you are sick and because of your illness and you can no longer express your thoughts. Normal words that you once knew are suddenly out of reach, or you feel
I have chosen this topic to write about for several reasons. Firstly, as a teenager who occasionally uses social media and utilizes things like acronyms and emoticons, I have personally experienced people looking down on me because of this. Secondly, I have a personal interest in this subject. It is easy to say that social media has had a negative effect on language; therefore, I would like to create an essay that provides both sides of the argument as well as the evidence that the claims are based
Face-to-face communication is a form of a direct and personal or social interaction. It occurs in a specific and tangible, real-time space. Face-to-face communication does not require any technology to mediate the said communication phenomenon (Goffman 2012, 83). This particular form of communication allows for people to publicly negotiate and define their identities. Since it is a form of direct communication, it requires at least two individuals to be physically and mentally present in the same
In today’s world, we are surrounded by innovative technology that helps us speed up our day to day lives. We can now communicate, learn, and process information faster than ever. As people’s daily tasks become faster, it seems less time is focused on other important tasks. Many people today are so focused on their busy lives and work schedules, that they are beginning to neglect an important process of the body known as sleep. Sleep is not only a vital process but it also helps the body restore from
Interaction and communication are important skills in school and in the work place. These skills are necessary because they help with self-identity and also can help adolescents prepare for future career choices. As adolescents play games with avatars they may learn how to
Social capital is about the worth of social networks, bonding similar people and bridging between diverse people, with norms of reciprocity. (Jenkins, 2002). The existence of a network or connections is necessary in order to maintain useful relationships that can provide material or symbolic profits. According to Bourdieu, every social class has a Habitus which is a set of unspoken rules, tastes and classifications. (Holt, 1998). Bourdieu considers social capital to come from group memberships and
Intergenerational communication has always been a source of frustration especially in communication where the age gap is largest. Because of the broadness of the topic, there are several different theories and ideas on the ideal intergenerational communication. As all participants are very different, it becomes very difficult to differentiate between the right and wrong strategies for successful communication. People need to associate themselves with the communication that seems most closely
they tend to resist change. As a result, James wants to slow any change that may happen with Melanie attending college by making her stay close to home. Evidently, the family itself is unbalanced. This is largely due to communication problems between family members. With communication, families can “identify and work out their concerns about cohesion – issues of spending time together versus having enough separateness to retain a sense of
Values is a word that have many different definitions. Each individual defines values differently and have different values. Most might have similar values but no two individuals have values that are exactly the same. Values are defined as the importance, worth, and usefulness of something. However, my definition of values is my personal beliefs and morals used to live everyday life. As a social worker, there are six core values that I should abide by. Those six core values are service, social justice
The open communication platform gives people the ability to exchange information quickly. People can collaborate on anything from personal relationships to business and professional topics. You can keep in touch with your family and friends or you can network your professional