Bernard Ebbers, then chief executive officer of WorldCom. He was named one of Network World’s 25 most powerful people in the telecommunications industry. Bernard Ebbers undoubtedly demonstrated outstanding leadership during his early years of entrepreneurship. His entrepreneurial story is full of legends. His story about "bartenders" napkin sketched "Communication Rhapsody"was knew by people. And after the acquisition of 70 small and medium-sized telecommunications companies he swiftly revived a small local telecommunications company as the second-largest US long-distance telephone company at that moment . Bernard Ebbers became a "star enterprise" favored by Wall Street.
In 1998, Bernard Ebbers, the then CEO of WorldCom, was named
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Ebbers is very charismatic. His employees described him as a charismatic leader with extraordinary persona. "When he entered a room, he was like a rock star," said a WorldCom employee. “People want to touch him and hold his hand. He created great wealth and people respected him.” Bernie Ebbers’s story was described by author George Gilde as “the most fascinating and incredible in North American operations. One of the inspiring stories." Ebbers Business Development is also very inspired, Murray Waldron, one of Ebbers’ original partners, described him as “the most targeted leader I’ve ever seen”. He hired engineering and accounting expertise to assist him. In his efforts the company reducere company unit costs and achieved rapid expansion successful . Ebbers is also a transformational leader. Ebbers led the company to sell two of the five business jets, cut employee spending accounts, lay off staff, and so on. When he discovered that the company spent $3 million a year buying coffee, he replaced coffee suppliers with vending machines. He announced …show more content…
Brown,p90,2004). Unfortunately, Ebbers did The half-sentence was successful, but it was betrayed by the second half. In the second half of the mad expansion of WorldCom, Ebbers demonstrated severely destructive leadership and took most of the responsibility for WorldCom's failure. The cowboy president’s madman performed a life-threatening tragicomedy. When Ebbers generously borrowed huge bank money to buy stocks of the company, the situation had become very unusual, and he provided personal loans to key senior executives for this purpose. These loans are not documented in the company, and all of these are foreshadowed for the destruction.From January 2001 to March 2002, Berne Ebbers and the chief Finance Officer - Scott Sullivan, converts total operating expenses of billions into capital expenditures, and fabricates 5 quarters of profit of billions big lie. "EBITDA" was a brand new accounting term created by him that means: Profit before interest, tax, depreciation, amortization, which is often referred to as "margin". So-called "amortization" means that the company The intangible assets created by mergers and acquisitions—goodwill—can be digested in batches and internalized, and then converted into tangible assets of “net gains.” Because of the special
Russell Edwards, the owner of a 126-year-old shawl, which was claimed to have been found at one of Jacks murder scenes, states that he has found DNA evidence identifying Jack. The shawl was believed to have been found at Catherine Eddowes’, the fourth victim, murder scene. Edwards claims that he has a letter that proves that the shawl belonged to Sergeant Simpson, who was on duty the night of Eddowes’ murder (Conner). According to record, Simpson never washed the shawl of the blood and put it into storage, where it stayed until being sold to Edwards. With the DNA samples and the descendants, the blood found on the shawl was a match to Eddowes, and upon discovering semen on the shawl, a match was made to the Kosminski family. Jari Louhelainen,
Imagine you are a crew member of a wooden union war ship in the Civil war. Your with a large group of ships and you create a blockade of a Confederate port. After a few weeks you see the other ships getting sunk by an iron fortress of a ship. Your crew runs aground avoiding getting sunk. The next day looks off into the ocean and see a raft with a huge Cheesebox on top with a Union Flag. What would you expect it to do? I bet you wouldn't expect it to save an entire naval blockade.
The events leading up to Edan Bunnymund's birth were anything but extraordinary. The Bunnymund clan was one of humble origins that originally lived in Mount Isa until they relocated to Brisbane in the early 1900's. His mother and father had known each other since they were children and anyone who knew them could predict their future union. They married shortly after Astor's eighteenth birthday and were expecting their first child two months afterwards. Ethan's father and his father before him had worked as a 'wharfie' (stevedore) down in the lower reaches by the Brisbane River, which was were Ethan found himself employed after secondary school, while Astor tended to their lively new baby.
Gregory Mears Sr., my grandfather, was born on October 20, 1945 in Baltimore Maryland. His mother Myrtle Elizabeth Dalton Bailey and father Henry Saile Bailey were also born in Baltimore Maryland. Growing up Gregory had seven brothers and sisters Eddie, Myrtle, Matthew, Del, Mildred, Melvin, and Marie all of which were born in Baltimore Maryland. Although at the moment the occupation for Myrtle is unknown, Henry worked as steel worker for Armco Steel. Gregory left high school under the direction of his mother to get a job. He left the twelfth grade leaving only a few credits short of his diploma to become a steel worker for Bethlehem Steel. Although, my grandfather did not continue his education each of his siblings continued their education
“More than 4 percent of inmates sentenced to death in the United States are probably
Elbridge Gerry was an American political figure and diplomat during the late 1700’s and early 1800’s. Gerry, who was a signer of the Declaration of Independence and eventually the Governor of Massachusetts and vice president, was born into a large wealthy family on July 14, 1744 in Marblehead, Massachusetts. Gerry was born into a family who gained considerable wealth through trade in the West Indies, and Gerry sought to pursuit his father’s business after he finished his secondary education. In 1765, after receiving a Master’s degree from Harvard College, Gerry acquired his reputation in politics through having an active role in the states and government, specifically on British tax reform and colonial policy. In 1787, after serving for years on the Second Continental Congress and receiving more knowledge in politics, Gerry was appointed to represent Massachusetts at the Constitutional Convention, advocating for the division of federal and state powers.
I’m Eddie Deeb a 17 year old Junior attending the best High school in Utah.
efferson Thomas, the youngest of seven children, was born in Little Rock to Mr. and Mrs. Ellis Thomas. His parents named him after Thomas Jefferson, President of the United States. Thomas first attended Horace Mann High School, a segregated all-black school, where he was a track athlete. In 1957, he chose to volunteer to integrate all-white Little Rock Central High School for the 1957–58 school year as a sophomore.
Foner fails to provide any actual numbers regarding how many slaves were set free, or any indication how long this natural disintegration process would have taken. These few very small steps seem redundant in this grand marathon.
John Sevier is a well-known figure still figure still today in Tennessee. He was born in 1745 in the Shenandoah Valley in Virginia. The eldest of all his seven siblings, he workd with his father on their farm, in their tavern, helped trade fur and speculated in the real estate industry. He married at the prime age of 16 to Sarah Hawkins who he proceeded to have ten kids with. Sarah died after giving birth to the tenth baby. He then married to
Tobias Wolff was born on June 19th, 1945 in Birmingham, Alabama. He is the second son of Arthur Samuels Wolff and Rosemary Loftus Wolff. At age five, Tobias faced a family breakup where he and his mother separated from his father and older brother, Geoffrey, due to the instability his father kept in his family life. Wolff and his mother constantly moved. They lived first in Florida, then moved to Utah in 1955, and finally settled in the Pacific Northwest, where his mother remarried a troublesome man, Dwight Hansen. They lived in Newhalem, Washington with Hansen and his three children. Wolff attended Concrete High School until he left for Hill School in Pottstown, Pennsylvania, where he faked his references to be accepted. He attended Hill School for a year but did not graduate and instead ended up joining the military for four years. Wolff’s family also did not reunite until 1961 when he saw his older brother and father after eleven years. From 1964 to 1968, Wolff served in the U.S. Army Special Forces, where he was assigned his post in Vietnam.
On March 15, 2005 former CEO of WorldCom, Bernard Ebbers sat in a federal courtroom waiting for the verdict. As the former CEO of WorldCom, Ebbers was accused of being personally responsible for the financial destruction of the communications giant. An internal investigation had uncovered $11 billion dollars in fraudulent accounting practices. Later a second report in 2003 found that during Ebber’s 2001 tenure as CEO, the company had over-reported earnings and understated expenses by an astonishing $74.5 billion dollars (Martin, 2005, para 3). This report included the mismanagement of funds, unethical lending practices among its top executives, and false bookkeeping which led to loss of tens of thousands of its employees.
WorldCom was the ultimate success story among telecommunications companies. Bernard Ebbers took the reigns as CEO in 1985 and turned the company into a highly profitable one, at least on the outside. In 2002, Ebbers resigned, WorldCom admitted fraud and the company declared bankruptcy (Noe, Hollenbeck, Gerhart, &Wright 2007). The company was at the heart of one of the biggest accounting frauds seen in the United States. The demise of this telecommunications monster can be accredited to many factors including their aggressive-defensive organizational culture based on power and the bullying tactics that they employed. However, this fiasco could have been prevented if WorldCom had designed a system of checks and balances that would have
Edward Jenner and the Discovery of Vaccines Edward Jenner (1749-1823) trained in London, under John Hunter, and was an army surgeon for a period of time. After that, he spent his whole career as a country doctor in his home county, Gloucestershire (West of England). His research was based on careful case studies and clinical observation more than a hundred years before scientists could explain what viruses and diseases actually were. His innovative new method was successful to such an extent that by 1840 the British government had banned alternative preventive treatments against smallpox. [IMAGE]
The stakeholders in this fraudulent case of WorldCom consist of Bernie Ebbers, Scott Sullivan, Buford Yates, David Myers, Cynthia Cooper, and Betty Vinson belong to the company. While the other stakeholders would consist of the creditors, Andersen (accounting firm), investors, and the public. This fraudulent act committed within WorldCom impacted every single stakeholder in a way. Either in a negative or positive way, most of the impact was caused with harm to everyone. The main individuals such as Ebbers, Sullivan, and Vinson all had major consequences as resulting with the fraud. Criminal trials were a major result with their fraudulent acts within WorldCom. Cooper was a lifesaver by most of the community. Aside from these individuals, the rest also got affected by the fraud. Investments conducted by the investors were all lost within the fraud process. The impact towards much of the image for Andersen was ruined. Many of the public lost their trust on the honesty and professionalism of Andersen and other certified public accounting firms. The entire employees from the top management to the smaller group of workers stayed unemployed and some with criminal punishment.