of their time on these areas. On June 28, 2002, WorldCom announced it would lay
ID: 363294 • Letter: O
Question
of their time on these areas. On June 28, 2002, WorldCom announced it would lay off 17,000 employees to reduce costs. On July 1, 2002, an internal review concluded that the fraud may have started in 1999 instead of 2001. On July 21, 2002, WorldCom declared bankruptcy. It was the largest bankruptcy in the history of American Commerce. WorldCom had assets of $107 b On August 1, 2002, CFO Scott Sullivan and Controller David Myer were charged with fraud. The estimated level of fraud had escalated to $7.6 billion. By November 2002, the fraud estimate had increased to $9 billion. In February 2003, WorldCom announced it would lay off another 5,000 employees. In March 2004, Ebbers was indicted on fraud charges and Scott Sullivan pled guilty Under Chapter 11 protection, WorldCom changed its name to MCI and emerged from bankruptcy on April 20, 2004. On May 10, 2004, MCI announced thatt would lay off 7,500 additional employees. On March 15, 2005, a jury found Ebbers guilty of conspiracy, fraud and making false financial statements. Bernie Ebbers was sentenced to 25 years in prison. Scott Sullivan was sentenced to 5 years in prison and former Controller, David Myers, was sentenced to one year plus one day in prison. Major Players in the WorldCom Scandal are shown in Table 2 of the case ase uestions: 1. Why do you suppose Bernie Ebbers was treated more like a leader of a cult than as a CEO? Explain. 2. Evaluate the recommendations in the Breeden report. Wi these accomplish the objectives they are supposed to achieve? 3. Do you view Cynthia Cooper as an ethics exemplar in this case Explain Case 5-McWane: A Dangerous Business (30 points Read "McWane: A Dangerous Business," pages 328-336 in Understanding Business Ethics Thoroughly answer the questions that follow the Case Summary below Case Summary The origin of this case comes from an award winning documentary of the same name on PBS's program Frontline. McWane: A Dangerous Business was a joint investigation from The New York Times, Frontline and the Canadian Broadcasting Corporation (CBC). The program was first broadcasted in 2003 and highlights the horrendous working conditions within the plants of the pipe manufacturer, McWane. A privately held company headquartered in Birmingham Alabama, McWane not only kept private information pertaining to their financial performance, but they also attempted to use their privately held status to not disclose numerous labor violations within their plants. The violations were so egregious that McWane held the dubious title of having more work related injuries from its employees than al its major competitors combined. The injuries 607-30-Explanation / Answer
Answer 1:
Discipline Management reinstates the well define code of conduct, difference between the ethical and non ethical standards. It specifies certain code of conduct to be followed by the manager & also various methods for managing resources efficiently.
McWane dont have standards of working. mcwanr implemented non ethical practices. Therefore it can be clearly said that Disciplined Management was implemented in McWane.
Answer 2:
Ethical Issues associated with McWane Corporation:
1. McWane deliberately did not disclose iits financial performance.
2. Poor work conditions
3. Deliberately did not disclose the labour violations in the plant.
4. Intentional delay of visit of OSHA inspectors to their plant.
Answer 3:
Refer below the good things done by McWane Corporations and in resposne it was honored and it received the prestigious award.
McWane received 2015 Corporate Contribution Award (which is in its inaugural year) in recognition of the extensive in-kind contributions we have made to the metal casting industry through AFS. This includes active participation by McWane team members in AFS technical committees, local AFS chapters, and presenting and teaching at AFS conferences and Cast Metals Institute courses.
The Cahaba River Society awarded McWane with the 2015 Watershed Conservation Development Award for the Stormwater Management Area at Birmingham's Greenwood Park. The park collects stormwater and treats it before it evaporates or flows on to nearby streams.
Note: I would like yo have your opinion and if you need any additional information. I will be glad to help you.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.