3/2/15 Final Paper Evaluate the challenges that for-profit public companies face from recurrent scandals, political attacks and alternative corporate structures such as the B-corp. “Public companies have been the locomotives of capitalism since they were invented in the mid-19th century. They have installed themselves at the heart of the world’s largest economy, the United States.”[Economist, p.1] “Public companies have shown an extraordinary resilience. They have survived the Depression, the fashion for nationalization, and the buy-out revolution of the 1980’s.”[Economist, p.8] Even though they do face some mighty large challenges ahead, they will hold strong in the near future but may eventually continue a downward trend as other …show more content…
The Economists states “Public companies have always had to put up with more regulation than private ones because they encourage ordinary people to risk their capital. But the regulatory burden has become heavier, especially after the 2007-08 financial crisis.” [p. 6] Just as corporations can have the positive influence of the laws and regulations for their core business areas they also inadvertently in a way have a negative influence as well. The things you do, good or bad, are both going to gain attention and be heavily regulated; so you’re influencing both. But only so much regulation can help stem scandals, more attention is needed inside corporations to create the kind of environment where trust and integrity is more pervasive. In an April 14, 2005 speech before the U.S. House of Representatives, Paul stated, "These regulations are damaging American capital markets by providing an incentive for small US firms and foreign firms to deregister from US stock exchanges.” [www.wikipedia.com] We are continuing to see the number of American companies deregistering from public stock exchanges increasing along with the continued decrease of new initial public (IPO’s). “The reluctance of small businesses and foreign firms to register on American stock exchanges is easily understood when one considers the costs Sarbanes–Oxley imposes on businesses. According to a survey by Korn/Ferry International, Sarbanes–Oxley cost Fortune
Topic: Compare and contrast the concepts of determinism, compatibilism, and libertarianism, as outlined in Chapter 4. What are the strengths and weaknesses of each of these positions? Which one do you believe is the most likely to be correct? Why?
A book adds suspense whenever a great alteration comes about that forces a character to change their present situation. "The First Part Last" By Angela Johnson is one book where the situations in both the beginning, and the end vary in level of intensity and emotion from all characters involved. Only, in this book, The main character, Bobby, has to improve himself, so he can help his daughter, Feather, grow up with a parent who was there. To do this Bobby must change, become not just a man, but a good man. I think that for a sixteen year old kid, he did alright. i intend to prove it using a few symbols that i found within the pages of this book. With these ideals, i intend to state my case that Bobby did in fact become a man, and start both himself, and his daughter on the right path.
Along a murky riverbed, long devoid of life; a lone roach scuttles along. It is often said that their kind are the only thing that can survive an apocalypse, apart from the ever changing shell of this rock hurdling through space and time. This creature, as resilient as it is fowl, may ever toil in peace; for it has no sentience or desires, and merely seeks to fulfill the simplest tasks, passed down and hard-coded into it’s DNA. Without want, pride, or a sense of being, it simply locates and consumes sustenance; in an ongoing cycle intermingled with periods of compulsive reproduction. A duty which has been the sole, simple undertaking of every member of it’s species for countless millenia. All around this creature, the land expands outward
"People have said these things are starting to filter down to smaller, non-public companies, Banks are requiring different standards for corporate governance which has increased as a direct result of Sarbanes-Oxley. People have started talking about spending more for internal controls, software, having to hire more auditors and higher D&O [directors and officers] insurance." (Leport 2005)
were paying for a war that they were not actually involved with. This was the start of the separation and thought of true liberty and freedom from the economic control
The goal I achieved was that I applied to Texas A&M-Commerce and got accepted into their school. However, I am still waiting to be accepted into their Nursing program. I have also been finishing all my assignments before the deadline. The only thing that has caused me to not reach my entire goal for that was these journals. I began writing them daily so it was good I made the chance for that, but I realized I should have posted them each day I was writing. The progress that I made towards the goals I set were, I ran a couple of mornings and for the most part I tried to cut down on the unhealthy food choices that I previously had. What helped me succeed on that was finishing my assignments ahead of time, this
Abstract Eugene Flegm has a long history in the field of accounting. He has seen a lot over the years and has come up with four paradoxes which accountants deal with. Of the four paradoxes, two of them have a direct correlation with leadership and management. The paradox of balancing “soft” skills and technical skills is the first paradox. The paradox of the education of accountants is the second paradox that deals with leadership and management. This essay will consist of defending Flegm's paradoxes while bringing in other sources to help the argument.
"A man can only endure so much before his will is broken and he can not push farther... we, sir, are here to test this one's will, and in turn, reveal the length of his abilities". In The First Part Last by Angela Johnson, a 16 year old boy named Bobby, whose surname the book does not reveal, is given the onus of taking care of a child that his girlfriend, Nia, had given birth to before they were separated due to medical issues with her body. The story begins with introducing Bobby, and we soon find out that because of the situation at hand, he must become a man to cope with the stress and the potential regret that comes with having a child at 16. So Bobby was forced to become a man, in order to truly reveal the length of his abilities, and
In Simon Young’s essay “Universities, Governments and Industry: Can the Essential Nature of Universities Survive the Drive to Commercialize?” Young implies many universities increase their focus on commercializing rather than focusing to increase a higher branch of learning for university students. Throughout the essay Young voices his concern for this issue through the use of statistics, concrete facts, research and by acknowledging the issue Young is able to inform his readers about the increase rate of commercialization from universities which he believes is a universities purpose. Young notes 40 years of his life were spent at Universities and this allows the gain of credibility. Young’s audience are members of psychiatry and
The Sarbanes-Oxley Act was passes in 2002 in response to a handful of large corporate scandals that occurred between the years 2000 to 2002, resulting in the losses of billions of dollars by investors. Enron, Worldcom and Tyco are probably the most well known companies that were involved in these scandals, but there were a number of other companies guilty of such things as well. The Sarbanes-Oxley Act was passed as a way to crackdown on corporations by setting new and improved standards that all United States’ public companies and accounting firms were and are required to abide by. It also works to hold top level executives accountable for the company, and if fraudulent behaviors are discovered then the executives could find themselves in hot water. The punishments for such fraudulence could be as serious as 20 years jail time. (Sarbanes-Oxley Act, 2014). The primary motivation for the act was to prevent future scandals from happening, or at least, make it much more difficult for them to happen. The act was also passed largely to protect the people—the shareholders—from corporations, their executives, and their boards of directors. Critics tend to argue that the act is to complicated, and costs to much to abide by, leading to the United States losing its “competitive edge” in the global marketplace (Sarbanes-Oxley Act, 2014). The Sarbanes-Oxley act, like most things, has its pros and cons. It is costly; studies have shown that this act has cost companies millions of
Elders in a family often tell youngsters stories of their past. Moreover, Steven Zeitlin, Amy Kotkin, and Holly Cutting Baker, assert in “Family Stories” that “Family stories are usually based on real incidents which become embellished over the years” (10). These stories tend to change as people age and experience various situations. Canfield’s short story “Sex Education” depicts Aunt Minnie, a woman who faced a traumatic sexual experience as a teenager, telling her story to an audience of younger generations at three different stages of her life; each account is told in a different manner as she experiences various situations that involve sexuality, namely
Just as we were beginning to think they may retreat after two failed attempts to siege our city, the Turks delivered a third and final strike, composed widely of Janissaries of whom were thoroughly trained in the expertise of battle. Despite a swift attempt by our soldiers to again tip the ladders that allowed the Turks to scale the city walls, many enemy forces made headway over the top and eagerly slaughtered their way into the city. While in the last two attempts we had successfully fended off the invasion, the pursuit of their trained Janissaries quickly proved superior as they battled their way through our defenses. Perhaps all hope would not have been lost if one fatal event had not occurred: one of the main entry gates into the city
The development of the Sarbanes-Oxley Act (SOX) was a result of public company scandals. The Enron and Worldcom scandals, for example, helped investor confidence in entities traded on the public markets weaken during 2001 and 2002. Congress was quick to respond to the political crisis and "enacted the Sarbanes-Oxley Act of 2002, which was signed into law by President Bush on July 30" (Edward Jones, 1), to restore investor confidence. In reference to SOX, penalties would be issued to non-ethical or non-law-abiding public companies and their executives, directors, auditors, attorneys, and securities analysts (1). SOX significantly transformed the procedures in which public companies handle internal
The United States is in fourth place in the world for ease of doing business, as reported by the World Bank’s “Doing Business 2010” report. Pro-business, as a rule, is the economic policy of the country and has a very well-developed competitive financial regulatory system with the financial markets. Differential federal tax rates and high tax rates are also the major dampeners for business. After several major corporate accounting scandals, such as Enron, Peregrine Systems and WorldCom, in 2002 US federal law adopted the Sarbanes-Oxley Act. This act is a set of new or improved public accounting standards for all US public company
Extremely concerning is the fact as recent as 2015, several high-level leaders and investors have lost millions of investors’ money and our elected officials still haven 't taken appropriate action, even after the financial crisis in 2008. Several acts of unethical behavior by upper-level Management large organizations have made it very difficult to know who to trust with your money. Especially, when our government officials did not act with normal citizens in mind. Both, the company 's and our government officials are driven by the need for money. However, businesses continue to lose investors and taxpayers’ money. As recently as, 2015, large companies have lost investor 's finances, due to bad decisions or fraud.