Download A Financial History of Modern U.s. Corporate Scandals: From by Jerry W Markham PDF

By Jerry W Markham

The writer of the award-winning trilogy A monetary background of the U.S. now offers a definitive new reference or the most important disasters of yankee company governance initially of the twenty first century. a vital source for college kids, lecturers and pros in company finance, and securities legislations, this exhaustive paintings presents in-depth insurance of the cave in of the Enron company and different monetary scandals that erupted within the wake of the marketplace downturn of 2000. The authoritative quantity lines the marketplace growth and bust that preceded Enron's cave in, in addition to the aftermath of that failure, together with the Enron financial disaster complaints, the prosecution of Enron officers, and Enron's position within the California power problem. It examines the function of the SEC's complete disclosure process in company governance, and the function of accountants in that procedure, together with Arthur Andersen LLP, the Enron auditor that used to be destroyed after it used to be accused of obstructing justice. the writer chronicles the meltdown within the telecom region that gave upward push to accounting scandals at Nortel, Lucent, Qwest, international Crossing, Adelphia, and WorldCom. He strains different accounting and governance mess ups at ceremony reduction, Xerox, computing device affiliates, AOL Time Warner, Vivendi, HealthSouth, and Hollinger. Markham additionally covers such Wall road scandals because the Martha Stewart trial, the monetary analyst conflicts, and the mutual fund buying and selling abuses. He analyzes the Sarbanes-Oxley laws that was once followed in line with those scandals, the burdens it imposes, and carrying on with flaws in complete disclosure. Markham additionally strains the notable industry restoration that the scandals and addresses the inaccurate efforts of company governance reformers that resulted in the abuses.

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Extra resources for A Financial History of Modern U.s. Corporate Scandals: From Enron to Reform

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Executives at some companies received “reload” options that granted new options each time an option was exercised. “Reset” options were also popular. These options lowered their exercise price when the company’s stock dropped in value, allowing the executives to profit even where they were not increasing the value of the stock. Some companies allowed their executives to rescind their decision to exercise options when the stock price increased after their exercise. The SEC required those companies to disclose such practices to shareholders.

Reset” options were also popular. These options lowered their exercise price when the company’s stock dropped in value, allowing the executives to profit even where they were not increasing the value of the stock. Some companies allowed their executives to rescind their decision to exercise options when the stock price increased after their exercise. The SEC required those companies to disclose such practices to shareholders. Options have special advantage for small start-up companies, like those that fueled the market boom in the 1990s.

Primex priced stocks through an auction market. This system was available for broker-dealers, institutional investors, market makers, and exchange specialists. Primex was used to obtain securities at prices better than those posted prices in other markets. The first stocks to be traded on Primex were those in the Dow, followed by stocks in the Standard & Poor’s 100 Stock Index. By 2000, some 150 electronic communication networks were conducting bond transactions. That number would be cut almost in half over the next two years as interest rates dropped.

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