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Topic: List of corporate scandals

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	Corporate scandal - Wikipedia, the free encyclopedia
		A corporate scandal is a scandal involving allegations of unethical behavior on the part of a company.
		A corporate scandal sometimes involves accounting fraud of some sort.
		A wave of such scandals swept United States companies in 2002 (accounting scandals of 2002).
	en.wikipedia.org /wiki/Corporate_scandal (200 words)

	Accounting scandals - Wikipedia, the free encyclopedia
		Accounting scandals, or corporate accounting scandals are political and business scandals which arise with the disclosure of misdeeds by trusted executives of large public corporations.
		The Enron scandal resulted in the indictment and criminal conviction of the Big Five auditor Arthur Andersen on June 15, 2002.
		In 2005, after a scandal on insurance and mutual funds the year before, AIG is under investigation for accounting fraud.
	en.wikipedia.org /wiki/Accounting_scandals_of_2002 (692 words)

	TCS Daily - Incentives and Business Ethics
		In many of the recent corporate scandals, the misconduct was committed by a small group of senior managers who took considerable pains to conceal their actions from outside advisors such as auditors or legal counsel.
		We have seen corporate lawyers sometimes forget who their client is. What happens is their day-to-day conduct is with the CEO or the chief financial officer because those are the individuals responsible for hiring them.
		When they go to lunch with their client, the corporation, they are usually going to lunch with the CEO or the chief financial officer.
	www.tcsdaily.com /article.aspx?id=031104I (1995 words)

	Corporate crime wave
		Corporate America’s defenders claim that Kozlowski is a "bad apple" who taints "responsible" CEOs.
		That’s why the list of corporate scandals is growing by the day.
		That’s because most corporate crimes--like laying off workers or slashing benefits or paying executives astronomical salaries--are perfectly legal.
	www.socialistworker.org /2002-2/411/411_01_CorpCrimeWave.shtml (411 words)

	Wikinfo \| Scandal
		Some scandals are broken by a Whistleblower revealing wrongdoing within an organization or a group.
		The scandal during Grant's presidency was not his fault.
		Images, some of which are used under the doctrine of Fair use or used with permission, may not be available.
	www.wikinfo.org /wiki.php?title=Scandal (231 words)

	Law.com - Scandals Spur New Kind of Corporate Exec
		There are companies that hire a CGO to offset the bad publicity generated by a scandal, such as Tyco and software firm Computer Associates, both of which are under federal scrutiny for questionable governance practices, and Disney, whose board has been faulted for cronyism and lack of independence.
		The current focus on corporate governance has put Pfizer in the spotlight, and Foran said a large part of her job is "missionary work," or talking to other companies about good governance practices.
		Corporate governance lawyers counter that the formation of such practice groups makes sense because the issues that arise under the governance umbrella are typically interrelated.
	www.law.com /jsp/article.jsp?id=1051121819676 (1299 words)

	Democracy Matters - Money on my Mind - Corporate Scandals / Congressional Complicity (Site not responding. Last check: 2007-10-23)
		Even as it refuses to pass legislation to correct corporate abuses, Congress is poised to pass a bankruptcy reform bill that feeds corporate greed at the expense of consumers.
		The Wall Street Journal minces no words: the bill's passage "shows the political clout that well-connected corporations and their lobbyists continue to wield...." This political clout, The New York Times reports, is the result of the $700 million contributed by credit card and bank interests to politicians since 1996.
		Members of Congress obviously believe that responding to the demands of their corporate contributors is more important than serving the needs of the overwhelming majority of citizens.
	www.democracymatters.org /ResearchCenter/Money/CorporateScandals.php (1120 words)

	Many Fear More Accounting Scandals Looming
		A number of companies guilty of financial shenanigans are "just waiting and hoping that the SEC has such a full plate that it won't notice them," said Carr Conway, a former investigator with the Securities and Exchange Commission who is now senior forensic accountant with Denver-based Dickerson Financial Investigation Group.
		The SEC's discovery of additional "Enrons" may be slowed by its limited resources, as well as the recent upheaval at the agency, including the resignation of its chairman, Harvey Pitt.
		But revelations of corporate malfeasance may come by other means, particularly with companies facing much greater scrutiny from directors, employees and investors.
	www.nysscpa.org /home/2002/1202/1week/article48.htm (208 words)

	Columns: Corporate contributions tarnish the best of them
		Corporate lobbyists are being swamped with money requests from members of Congress and their staffs.
		Both parties say a few rotten apples in Corporate America don't mean that all corporations are off limits as a source of campaign money.
		They refused to release the list of corporate contributors or allow reporters to cover the event.
	www.sptimes.com /2002/07/28/news_pf/Columns/Corporate_contributio.shtml (922 words)

	CNN.com - Transcripts
		Is the wave of corporate scandals hurting the NBA president or is that a figment of the media's imagination?
		With all the corporate scandals now all around us - Enron, Global Crossing, Tyco, Martha Stewart, now WorldCom, some in the media are saying, well, this is because of industry contributions to the Bush campaign resulting in lax federal regulations.
		The corporate scandals are causing a big problem in the stock market, which is reverberating through the economy and that in turn affects jobs.
	transcripts.cnn.com /TRANSCRIPTS/0207/06/rs.00.html (3727 words)

	Corporate Financial Scandals - Johnson's Russia List 7-30-02
		Year after year we were told that the financial crises in Asia and Russia were the result of strictly local factors and that nothing of the sort could happen in the United States.
		Even the Finns and the Germans were lectured on the superiority of U.S. corporate culture, based on transparency and accountability.
		The problem is that the United States became a symbol for those in Western Europe, Asia and Russia who were transforming their own countries in accordance with free-market ideology.
	www.cdi.org /russia/johnson/6376-7.cfm (781 words)

	Business Ethics' Names 100 Best Corporate Citizens (Site not responding. Last check: 2007-10-23)
		The aim of this listing is to identify firms that excel at serving a variety of stakeholders well.
		Initially, the list was drawn from 650 firms used in the socially screened Domini Index: the SandP 500, plus 150 other firms selected for industry balance and social performance.
		Statistical analysis for the list was done by Sandra Waddock and Samuel Graves of the Carroll School of Management at Boston College in Chestnut Hill, Mass.
	www.business-ethics.com /100best.htm (3066 words)

	People's Tribune 08-02 Corporate corruption: Symptom of a dying system (Site not responding. Last check: 2007-10-23)
		What the scandals really mean is that the existing system -- the system where people work for a capitalist, get paid wages and use their wages to buy the necessities of life -- is starting to come apart at the seams.
		That means the corporations sell less, and as their income falls, they begin to go bankrupt.
		The corporate corruption now being exposed is just the nasty icing on a rotten cake.
	www.lrna.org /league/PT/PT.2002.08/PT.2002.08.2.html (841 words)

	2002's Hottest Business Stories, Scandals Top The List - CBS News
		Stories centering on scandals at Enron and Arthur Andersen also were near the top of the list, even though both began to unfold more than a year ago.
		SCANDALS MOUNT: Some of the nation's premier companies were roiled by charges their executives lied to investors and abused their power.
		It was the linchpin for a lengthy public debate on the risks of 401(k) plans, touched off criticism about excessive executive pay and inadequate corporate governance, and has fueled investigations of those who did business with Enron, including major banks accused of helping it mislead investors.
	www.cbsnews.com /stories/2002/12/20/2002/main533853.shtml (1070 words)

	Portfolio at NYU
		The diverse crowd of teenage anarchists, aging hippies, trade-union activists and downtown workers on their lunch break were treated to amusing pieces of absurd political theatre between speeches.
		Other protestors insisted that the infamous corporate scandals of the past year, such as Enron, Global Crossing and WorldCom, are not just aberrations in an otherwise sound system.
		Now more than ever, the protestors say, the corporate agenda has entered the inner halls of government, where a Presidential Administration with strong ties to the energy and defense industries has shown it will go to great lengths to protect corporate privilege.
	journalism.nyu.edu /portfolio/woodsworth/nader_street.html (801 words)

	ITEP Corporate Study Press Release 2000
		Many of the country's biggest corporations are once again paying little or nothing in federal income taxes, according to a study released today by the Institute on Taxation and Economic Policy, which collaborated on a number of widely-publicized analyses of corporate taxes in the 1980s.
		Although big corporations ostensibly are supposed to pay 35 percent of their profits in taxes, the 250 companies in ITEP's survey paid only 20.1 percent in 1998.
		When stock options are exercised, corporations can take a tax deduction for the difference between what employees pay for the stock and what it's worth--even though in reporting profits to shareholders, companies don't treat stock-option transactions as business expenses.
	www.ctj.org /itep/corp00pr.htm (1162 words)

	Crony capitalism American style
		Nearly every known check on corporate behavior--moral, regulatory, you name it--fell by the wayside, replaced by the stupendous greed that marked the end of the bubble.
		Leading Democrats are hoping to focus on corporate scandals as the best way to challenge Bush without criticizing the "war on terrorism." But the deregulation and tax cuts for the rich carried out during the last decade largely happened on Bill Clinton’s watch--and with his blessings.
		Throughout the "miracle economy" of the 1990s, corporate executives seeking to pump up stock prices--so that they could cash in their stock options for even more--laid off thousands of workers.
	www.socialistworker.org /2002-2/413/413_05_CronyCapitalism.shtml (1219 words)

	SignOnSanDiego.com > News > Nation -- The Fraud Squad (Site not responding. Last check: 2007-10-23)
		Slocum, who noted that most of the major corporate scandals in recent years occurred in deregulated industries, added that the task force also failed to break the case of mutual funds giving large investors special privileges, including trading after markets had closed.
		"The mutual fund scandal was skimming money from every small investor in order to reward large investors, and the fact is that the investigation into that scam was led by state prosecutors," he said.
		John Coffee, a professor of law at Columbia University and expert in corporate governance, said that by one measure, the rise of corporate fraud may at last have been checked.
	www.signonsandiego.com /news/nation/20040808-9999-lz1b8fraud.html (2048 words)

	Mutual fund scandal has investors bailing out - The Clarion-Ledger (Site not responding. Last check: 2007-10-23)
		Snowballing scandals in the $7 trillion mutual fund industry are prompting disgusted investors to dump funds.
		After years of corporate corruption, brokerage scams and accounting shenanigans, the mutual fund trading scandals have been especially hard felt.
		As vocal as some investors are about the scandal, financial planners say that most clients have been quiet.
	www.clarionledger.com /news/0311/19/b10.html (631 words)

	U.S. Senate Committee on Banking, Housing, and Urban Affairs
		It does not seem so long ago that we would find ourselves back in the days of a seemingly endless list of corporate scandals.
		Almost every day we heard story after story of big corporations that had serious and severe financial problems and accounting staffs that had failed to live up to their responsibilities.
		We also have witnessed the placement of independent directors and effective auditors who are now an integral component of corporate oversight.
	banking.senate.gov /index.cfm?Fuseaction=Hearings.Testimony&TestimonyID=309&HearingID=58 (267 words)

	The Carpetbagger Report » Blog Archive » Scandal after scandal after scandal
		I remember "scandal fatigue" was a conservative buzz phrase in the late 90s.
		I'm not talking about scandals that ought to be investigated; I mean Republicans and their scandals that have actually been the subject of formal investigation.
		The scandal cost Korsmo his career; he was forced to resign from his position last week.
	www.thecarpetbaggerreport.com /archives/001421.html (1063 words)

	Anger Management Course: A 2002 list worth reading
		But the long, long list of other corporate scandals this year almost never made past the business section.
		And the systemic reasons why such "scandals" are the norm, or slight variations on the norm, were almost never discussed.
		Neither, after 20 years of deregulation and privatizing, was the complicity of most major figures in both political parties, or the total cost to consumers and taxpayers.
	www.weblog.nohair.net /archives/000187.html (388 words)

	NOW with Bill Moyers. For Educators. Corporate Governance \| PBS
		In preparing for the lesson, select a political cartoon on recent corporate scandals that is appropriate for your students' background knowledge and abilities.
		Explain that corporate boards of directors, Congress, auditors, the courts, and others also play watchdog roles, but that students are going to be focusing on the role of the SEC for this lesson.
		Have each group list their ideas on large sheets of paper and post their ideas on the wall of the classroom when they are finished.
	www.pbs.org /now/classroom/business.html (1582 words)

	Enzi: corporate governance system on the right track
		As we now move into the next phase of the Sarbanes-Oxley Act, I urge the SEC to be vigilant in ensuring that small auditors and small publicly traded companies do not incur a disproportionate regulatory effect of the law.
		Just as important as it was to improve the corporate governance structure in the public markets, it now appears that we need to improve the corporate governance structure of the regulators of our securities markets.
		I am very interested in the Exchange's response and would greatly appreciate if you would share it with me. I strongly believe that the regulators of our securities markets should not permit themselves to be held at a much different standard than we require of the companies that they regulate.
	www.senate.gov /~enzi/sarox3.htm (706 words)

	T. Michael Kennedy: Corporate Scandals That Have Caused Investors To Lose Millions, Stock Investment Fraud (Site not responding. Last check: 2007-10-23)
		The corporation had been plagued by exorbitant debt but had allegedly doctored its accounting and financial records to fool investors and to keep their business.
		One of the most talked-about corporation collapses in recent history, the Enron scandal cost employees their jobs and investors billions in savings.
		Several Adelphia officials, all of whom are members of the Rigas family, have subsequently been charged with a number of criminal and civil offenses, though none have admitted guilt in regards to securities fraud accusations.
	www.stockfraudusa.com /html/stocks.html (697 words)

	Enzi celebrates corporate accountability bill anniversary
		Almost every day the media seemed to report a story about big corporations that had serious and severe financial problems and accounting staffs that had failed to live up to their responsibilities and now had to be held accountable for their work in corporate America.
		As the only accountant serving in the Senate, I was very concerned about my profession and the very large fl eye some had caused from activities pursued over the years that suggested a conflict of interest or had the clear appearance of impropriety.
		Last year, as the Committee began its work, not only had corporate wrongdoers been taking control of the system away from those who invested and believed in the integrity of our public markets, but the very nature of our accounting policies and auditing standards had also been called into question.
	www.senate.gov /~enzi/sarox2.htm (679 words)

	The bleeding of Wall Street
		Investing in the stock market has always been somewhat of a gamble and trained money managers are always telling small investors (which is to say, most of us) to be wise and prudent with their investments.
		The Enron scandal, as bad as it was and still is, turns out to be not an aberration.
		But the experts missed all these scandals and the business world well knows that mistrust and consumer anxiety can spread quickly and have a negative impact on the economy.
	www.recordonline.com /archive/2002/07/02/02edit.htm (776 words)

	The 10 Worst Corporations of 2002
		This is perhaps the greatest exercise in corporate mendacity the world has ever known and one of the most serious corporate crimes of the twentieth century.
		BAT defended, and continues to defend, the shredding on the grounds that the company was not obligated to hold on to documents that may be useful to an opposing party in some future litigation.
		But the judge stated that while corporations are not obligated to store documents indefinitely, they are not free to destroy them in anticipation of future litigation.
	multinationalmonitor.org /mm2002/02december/dec02corp1.html (8179 words)

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