CUC International

CENDANT On December 17th 1997 CUC International a membership-based consumer service company focused on giving people access to discounts on travel, shopping, etc. and HFC Incorporated a large hotel franchiser merged together and became Cendant. CUC International lead by Walter Forbes deliberately and fictitiously made the company more than $500 million fictional revenue, which in effect led to one of the biggest fraud cases of the 1990’s. This is a very interesting fraud case and one that forced

well as Arthur Andersen settled for undisclosed amount (pp.8-10). CENDANT CORP. (1997) Ahmad et al. (2013) indicated that as a result of the merger of HFC with CUC International and formed Cendant Corp but, it was revealed that CUC overstated revenue by $500 million between 1995 and 1997 (pp.8-10). Crumbley et al. (6 edition) specified that CUC "deliberately and fictitiously" inflated operating income by 50% or manufactured about $500 million in fake revenue (p.3081). Ahmad et al. described that

accounting irregularities in its core membership-club operations that will require it to reduce reported 1997 operating income by $10 million or more and that it will hurt this year’s earnings. The primary issue at hand was the method employed by the CUC unit in recognizing revenue in its club-membership sales. It was discovered that too much of the revenue was booked up front, while the recording of the expenses associated with the memberships was deferred until future periods. The following day, Cendant’s

Cendant Corporation, one of the world’s largest hotel and real estate franchises was known as the largest accounting fraud before Enron. Cendant Corporation was created in 1997 when Hospitality Franchise Systems (HFS), Inc. merged with Comp-U-Card international (CUC). Chairman Walter Forbes and Vice-chairman Kirk Shelton were the perpetrators to a decade long accounting and securities fraud. The day after Cendant exposed evidence of accounting irregularities the corporations stock and convertible bonds

Circuit City was first established in 1949 under the name of Wards Company in Richmond, Virginia by Sam Wurtzel. What started out as a little storefront would later flourish into a national chain of superstores retailing electronics and appliances. Interesting enough, this retail giant would eventually close its doors and become known to many as one of American retailing’s great failures (Romero, 2013, p. 31). The thought that this small Richmond-based retailer would soon become a great success only

Riordan’s Competitive Advantages The research will describe which competitive advantages Riordan has in common with McDonald’s and Burger King. This study will estimate, which competitive strategies Riordan could use to improve innovation and sustainability of business operations both in the United States and in the global market. Research will explain why those competitive strategies were chosen and estimate how they may affect sustainability of long-term organizational performance. The examination

1. Marketing is: e) all of the answers listed 2. The presence of price and quality variance in markets means: c) A few suppliers’ productsand services are best buys. Most are not 3. Marketing is about: b) Increasing customer satisfaction, which in turn increases profits 4. Product innovation and the diffusion of innovation create: d) All of the answers listed 5. Marketing is the business discipline responsible for: c) Product innovation and the diffusionof innovation 6. The focus of

to surpass the U.S. China became the second largest economy, last year, overtaking Japan which had held that position since 1968 (Gallup). China could become the world’s largest economy in decades. China’s economical strength comes from its international trades as the economy has grown to a rate of 10.3% in 2010. It has become the world’s largest exporter in the global economy. In the

the United States to export the goods they produce more easily due to them being relatively cheaper in comparison to their past price. Having exports increase, however, would cause America’s imports to decrease. This would make it harder on international firms that have production occurring in China and other places around the world. A lot of Americans would believe this to be a good thing, as it would reduce job migration overseas. On the other hand, I see this as hurting the established American

DBQ: Opium in China While most of the Western Hemisphere was undergoing drastic advancements, such as former colonies gaining their independence and transforming into more modernized nations, a lot of mishaps were occurring in the Eastern Hemisphere—China, specifically—a nation that was notorious for its isolation from foreign influences. European nations began to greedily eye China’s abundance of desirable resources, such as tea, porcelain, and silk. However, China had very little need or desire