Tragedy Strikes: Riggs International Banking

A good business will know to understand that their employees need understanding in a time like this and not to put too much pressure which will only make things worse.

Because leadership is a key force in determining an organization’s success or lack thereof, the Gordons should consider putting a succession plan in place as soon as possible and should start grooming the would-be successor(s).

The objective of this case is to understand the importance of crisis management. This case is intended to make the reader consider not only financial implications at the time of the event but the effects on the long term strategies of the organization. Also, the case urges participants to think about the consequences not only on the customer but on those within the organization as well.

Terry Dubose, Frank Baker, and Woody West were all bank directors and shareholders of the Costal Community Bank (CCB) with location in Panama City, Florida and Port St. Joe, Florida. Terry Dubose was chairman and Chief Executive Officer of Coastal Community Bank while holding the second largest shareholder. Frank Banker was the acting Attorney while having the largest shares of the community bank. Woody West was the CCB Chief Financial Officer.

Every company succession plan carries the three bases that are will, trust and estate. The will, trust and estate provided a financial security and help plan the future. The purpose of the succession planning is it helps in organizing wealth that is transferred from one generation to the other. With assist from experts regarding disputes of lands that is in wills and estates helps manages and settling down any disputes.

documents. Bank of America and four other banks reached a $25 billion landmark settlement with

In this paper examples of two different types of organisations were presented and their response to a natural disaster illustrates how sometimes Risk Management processes are not enough to save an organisation from unforeseen adversities. The disaster at Fukushima Daiichi is the second worst nuclear accident in history (Qiang, Xi, Xu, Chong 2013). Even though arguably it could have been avoided, it led to a near universal loss of faith in nuclear energy.

During the times leading up to the power struggle, the power dynamic within Lehman was steadily shifting as trading profits became increasingly more important to Lehman versus traditional investment banking profits. Thus, Glucksman was able to step into the spot light and Peterson became more expendable. Peter Peterson’s core

Suicides were abundant as fortunes were lost overnight, companies’ stocks were deemed worthless, and grand companies of manufacture, were split over the course of the day, a stock that was a great investment was now for all its merits worthless. Thousands, millions were lost, not only affecting the rich of the Americas, but the workers, and employees of the then near-default and defunct companies of this

As it turns out, interviewing people who have lost their jobs over the years has yielded information stating that most people do see their job loss as a serious problem when it first occurs. However, as time goes on and they get over the initial shock, they begin to realize that there are many opportunities they can consider (Taylor, 2004). That can turn their tragedy into a blessing. People start their own businesses, and they focus on

On the contrary, Epperson took extreme measures to reassure its concealment to the point of institutionalizing their version of the Iron Curtain. Tactically distributing certain financial information across several key players effectually eliminated any individual exploring the larger picture. The reason for such an extreme veil of secrecy undoubtedly originated from the enterprise operating as a Schedule C organization, thereby integral to the owner’s federal income taxes. And although management competence appeared marginal at best, they displayed remarkable ability to control employee interaction with Christine utilizing an originative mix of fear, coercion, and intimidation. Douglas McGregor would label this supervision style as Theory X decades earlier, yet its effectiveness in private industry had long ago proven inefficient and flat-out counterproductive. Mutual assurances allowed executive bonuses to continue flowing in spite of dwindling financial performance over the years. Notwithstanding other anomalies exceeding the scope of this writing, the author’s reverence for the founder, Uriah Spray Epperson, could have been greater as highly innovative and sheer genius of his day. Indeed, the company operated as his proxy in the management of the reciprocal insurance association known as Lumberman’s Underwriting Alliance

“I believe the power of making money is a gift of God… I believe it is my duty to go on making money and still more money, and to dispose of the money I make for the good of my fellow man according to the dictates of my conscience.”-John D. Rockefeller. Three examples that will be listed in this paper are John’s early life before his business, how he built the company and how it affected him entirely, and the after effect on how he became successful in his industry. (Segall, 2001).

In the first ten years of his career on Wall Street, Dunne held a wide variety of positions that he had no idea would lead him to where he is today. He is currently Senior Managing Principal of Sandler O’Neill and head of the firm’s Executive Committee. Jimmy Dunne is responsible for the company’s long-term strategy and growth. Under his leadership, Sandler O’Neill has improved in fixed income, capital market, investment banking, research, equity sales, trading, and mortgage finance. “I learned later that Jimmy Dunne was more committed to his work than anyone I’d ever known. Thrust into a role he had never expected and had never prepared for — not just to lead Sandler O’Neill, but to save it — he embraced his task with an unnerving intensity,” says Joe Nocera. His first year on Wall street, 1978, Dunne started out working for L.F. Rothschild’s Bank Service Group and then soon went on to work at Lehman Brothers in 1982. Years later in 1986, Dunne became a part of Bear Stearns’ Financial Services Group where he acted as an advisor. In 1988, Dunne joined the Sandler O’Neill team which he has now been with for 28 years and

investment bank. He was assigned to a team that followed retail companies. His first task was to

Mark Landstad was due to present in front of the CliffBank’s senior management team for the first time. He had recently moved from the research division, in to the investment banking division. Wanting to impress the senior management team, he had been working on a presentation for their meeting, and was keen to make a good impression. He was seeking some more up-to-date information, and was unsure on where to look for it. As part of the Millhouse project, he thought that perhaps Nicole, his new co-worker, and teammate could help. Unfortunately, she was in the middle of a flight over China, but she did however recommended that Mark should look through the files or a previous employee at the company, Patrick, as he was a member who was very good with the numbers and a “master of M & A,” as well as knowing the retail sector inside-out. However, Patrick was somewhat disorganized, so finding the files that Mark required for the presentation was going to be an uphill battle.