Case Study: Weatherford International LLC

The IRS began probing through Harborside’s taxes to identify any discrepancies. They found that they had come in breach with Tax Code section 280E prohibiting cost deductions by illegal drug traffickers. They are not the first to come into contact with the dreaded tax code. Like many others before them, they are now fighting the back-taxes and the interest accrued handed to them. This case is still under investigation at this point but Steve DeAngelo CEO has until December 22nd to come up with a strong case to bring before the courts.

The allegations by Robin Horvath against the Packo Family and Mrs. Dooley occurred in June of 2010 bringing to the forefront a civil case in which Mr. Horvath sued the Packo Family and Mrs. Dooley. Mr. Horvath sued the company over wrongful termination in relation to the whistleblower act. Mr. Horvath accused the Packo’s and Mrs. Dooley of misappropriations of funds, and defrauding the company of over $300,000. Mr. Horvath then notified the Board of Directors about this issue, and after bringing this issue to the board he was subsequently fired.

Martinrea International Inc. (TSX:MRE) is a Canadian manufacturing company servicing customers around the world, primarily in the automotive sector. Founded in 2001, Martinrea has grown rapidly through both acquisition and organic growth, and currently employs over 14,000 people in 44 plants across North America, South America, Europe and Asia. The Vaughan, Ontario-based company has four sectors in its corporate structure, which include aluminum, fluids, metallics and modules. Martinrea’s four core sectors service mainly the automotive industry, however, the company has also begun to seek a broader cross-section of clientele, investing in lower volume assembly line parts such as buses, recreational vehicles, air conditioning, military and farm appliances.

All parties involved in the accounting scheme except for Former CFO, Todd C. Crow agreed to settle out of court (subject to the approval of the U.S District court of Arizona) without confessing or refuting any fault. The parties involved included:

He transferred funds from WHA to his personal bank account and other accounts he had access and control too. Richard understated the amount of unpaid payroll taxes of WHA and its subsidiaries and by overstating the amount of loans made by him to WHA. As a result the financial statements and records were manipulated. He also directed purchasers of new issued shares to transfer the funds of the shares to accounts under his control. Around $6 million was taken and spent. The market value of WHA and the earnings per share were also inflated and overstated as well. This happened because of Richard falsely giving records to the SEC, WHA shareholders, and perspective new purchasers of stock by understating the real number of outstanding shares in the company’s financial statements. World Health Alternatives lost $41 million in total from all of the fraudulent activity.

Does your organization conduct drills and training? For what kinds of disasters, crises, or critical incidents? Have you found the drills or training useful?

Well, we've already started our company on March 18, 2016 by CEO Nicholas Walker and Vice President Lee Jones. Jones Carter LLC provides civilian, state and federal solutions with a focus in but not limited to Cyber Security and Information Technology. The company is headquarter in Bamberg South Carolina where most of the work the work is done. The vision of Jones Carter LLC is to make the company profitable by serving as bridge between clients looking to find expert business solutions and prospective job seekers in search of employment as subject matter experts and professionals. The company is posed to do business at the local, state, and federal levels. Jones Carter LLC is willing to take that step forward and join the cyber war is today's society by making the world a

Therefore, Market West accepted the corporation stock as partial debt. Hooper and Yoder agreed to add Brian Bradley who worked for Market West as the third director. Hooper colluded with Bradley and violated a fiduciary duty to Yoder by issuing 95 shares of stock to himself, 5 shares to Bradley, and none to Yoder. Furthermore, Hooper got paid $141,000 salary from the business without Yoder knowing. More importantly, Hooper and Bradly voted to force Yoder to leave the corporation. After Yoder found out that Hooper broke their agreement, violated Yoder’s rights and duties, acted dishonestly, and made unethical decisions, Yoder sued Hooper and Beautiful Daydreams in the District Court. Under the common law, with these facts, the court supported Yoder and ordered Hooper to give back one-half of the salary plus one-half of the shares of stock to Yoder.

The Last in first out (LIFO) liquidation Inventory valuation method was changed as Inventory level in1984, 1983 and 1984 was decreased by Harnischfeger. By adopting this process, inventory that was purchased at lower cost in previous years was sold at higher prices.

1. Evaluate the economics of Gulf's exploration and development program in net present value terms. How do Gulf's outlay for exploration and development compare to cash returns Gulf generates from these activities.

This $490 million came from the netting manipulation when they offset their expenses with unrelated gains on the sale of assets. The geography manipulation allowed them to move millions of dollars to different sections of the income statement to “make the financials look the way we want to show them” said James Koenig, one of the primary forces behind the scandal. However, none of the fraudulent activities would have gone unknown for so long without the aid of the auditors, Arthur Anderson LLP, involved with Waste Management.

Companies strive to choose not only the best marketing channels, but also the best profitable channel. A profitable channel can promote and successfully sell out of a product that might not otherwise turn a profit for their producers (New Charter University 2015). “The calculations from the cost accountant for the retail segment accounts were 60 percent of sales, and for the foodservice segment accounts were 40 percent. The cost accountant believes that both channels are profitable. The accountant also believes that the company achieves an overall average gross margin of 60 percent on its sales (Bowersox, D. J., Closs, D. J., Cooper, M. B.,

The situation began to unfold when the Securities and Exchange Commission was probing into a restatement of the company's stock price. Kozlowski's business practices raised some eyebrows. In 1999, the Securities and Exchange Commission (SEC) initiated an inquiry into Tyco's practices that resulted in a restatement of the company's earnings. In January, 2002, questionable accounting practices came to light. Tyco had forgiven a $19 million, no-interest loan to Kozlowski in 1998 and had paid the CEO's income taxes on the loan. It was found that he company's stock price had been overrated, and that the CEO and CFO had sold 100 million dollars' worth of shares, and then stated to the public that he was holding them, which was a misrepresentation and misled the investors.

The company our group chose to analyze was Ford Motor Company. They are based out of Michigan with 181,000 employees and 65 plants worldwide. They currently sell on six continents and sold 2,493,918 vehicles in 2013. The Ford Motor Company Brand also includes Lincoln but it is only sold in North America.

Bill Ford, heir and President of Ford Motor Company (NYSE: F), faced a forecasted thirteen billion dollar loss in 2006. In order to save Ford, Bill Ford had to dramatically alter the direction of his organization [1]. After several unsuccessful attempts at attracting top executives away from his competitors, Bill Ford decided to pursue a route that Ford Motor Company hadn’t in over 60 years by not only hiring a top executive from outside its’ ranks but also the automotive industry entirely [2]. On September 5, 2006, Alan Mulally decided to leave the wildly successful aircraft market leader, Boeing, to be appointed the new President and Chief Executive Officer of America’s historic Ford Motor Company.