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Leadership Development at Goldman Sachs: A Case Study and Program Strategy ecommendation
Goldman Sachs is a company that had more than a century of long-standing respect and authority in the financial world up until the recent economic crisis, which ultimately resulted in allegations of fraud being levied against the company and many of its executives. One creative journalist compared the banking and finance institution to a "vampire squid," and the name and image have stuck as the degree to which the Goldman Sachs lied to and profited from its stakeholders while also becoming involved in any number of nefarious schemes. In short, Goldman Sachs has in many ways become the company that people love to hate, and the scapegoat for the financial and banking sector's culpability in the recent global recession.
This image is not entirely fair, however, and the hundred and forty years of Goldman Sachs' operation…
Groysberg, B. & Snook, S. (2007). Leadership Development at Goldman Sachs. Haravard Business School document no. 9-406-002.
HMM. (2011). Leadership Development for A Players. Accessed 28 February 2011. http://www.greatleadershipbydan.com/2008/01/leadership-development-for-players.html
O'Connel, P. (2010). Goldman Sachs: Committed to the Next Generation. Accessed 28 February 2011. http://www.businessweek.com/managing/content/feb2010/ca20100212_220894.htm
There are various investment options for Goldman to consider. It can be land, industries, corporations, educational institutions, healthcare facilities or even a research centre for that purpose. Options are numerous for investment. As of the Bric, if they attempt on improving the law and order situation, corruption, rate of crime and respect for democracy & human rights, a huge number of investors would be interested in investing in their country. This way country will progress even more and development would not remain a distant dream. But if together with these countries, few other countries are also taken into consideration and included in the strategy, it is possible to get far better results. These countries would include Mexico and outh Korea as this would increase the chances of success and will also prove to be a source of benefit in the long run.
It is possible to give incentives and initiatives…
Salva M.S. (2011) what is the Medium-term Impact of the Bric Countries? An Investigation Into the Marco-economic Future Prospects and Evaluation of Trends for the Bric Economies from 2011-2050. Grin Verlag
Gillian Tett. (2010). Man who named the future. Article 38. Financial Times Magazine. January 16, 2010. page.30.
"BRICS AND BEYOND" - Goldman Sachs study of BRIC and N11 nations, November 23,
Since the two companies operate in different target markets and with substantially different product mixes the recommendations must be customized for each firm. Goldman Sachs is considered a top trade recommendation for 2012 by many accounts as the firm is largely financially successful and the institutional client services dominate the businesses revenue stream (Craig, 2013). The most pressing recommendation for Goldman Sachs would be to integrate a more robust enterprise risk management system (ERM).
Risk management is becoming an important consideration for many organizations. There are several aspects to risk management that apply to Goldman Sachs and their current operating model. The 2008 financial crisis revealed many unseen sources of risk in the financial system. Although Goldman Sachs is considered to have one of the industry's best risk management systems, it stands that the company that the organization could further develop their model (Popper, 2012). Risk management is…
Craig, S. (2013, January 16). Bolstered by Investments, Goldman Sachs's Profit Soars. Retrieved from Deal Book: http://dealbook.nytimes.com/2013/01/16/goldman-profit-soars-to-2-89-billion-in-4th-quarter/
Janus. (N.d.). Investor Newsletter. Retrieved from Janus: https://ww4.janus.com/Janus/Retail/StaticPage?jsp=jsp/Common/JanusReportHTML.jsp&assetname=JanusReportDealingMarket
Popper, M. (2012, October 9). Who's the Best on Wall Street: Risk Management Report Card. Retrieved from CNBC: http://www.cnbc.com/id/49328094
Steinberg, J. (2013, March 5). WisdomTree Investments' CEO Presents at Citigroup U.S. Financial Services Conference (Transcript). Retrieved from Seeking Alpha: http://seekingalpha.com/article/1249151-wisdomtree-investments-ceo-presents-at-citigroup-us-financial-services-conference-transcript
Human Resource Strategy
Focusing more on the people and putting their needs and wants first is one of the most essential contributors to success of an organization. Among the toughest challenges being faced by human resources (HR) executives today is the development of effective and efficient yet at the same time powerful business solutions that would focus more on the business by keeping the concerned people in perspective. However, some feel that the role being played by HR executives in the achievement of such objectives is still not very clear (Deloitte).
Companies that have effective HR have the ability to attract and retain employees who are qualified and motivated to perform. Such human resources help the companies to obtain more profits, have lower employee turnover, have lower costs of production, have higher quality of products, and have more rapid implementation and acceptance of corporate strategies (Schuler and MacMillan).
Conway, Stephanie. Whole Foods Market®: An Industry Leader? San Diego, 2007.
Deloitte. "Creating value through HR." 2009.
Goldman Sachs. who we are. 2014. 9 May 2015.
Gupta, P. Siddharth. Whole Foods Market. Hyderabad, 2013.
The recent 1MDB scandal that stretched from the East to the West is a major example of misconduct in the financial industry. It is also indicative of an endemic culture of misconduct within the industry itself. Several banks and higher-ups in government were involved and yet the few have been charged or convicted of any crime. The reason is that while the financial system is meant to prevent scandals such as this the reality is that those tasked with governance are incentivized to look the other way because the ones they are aiding and abetting in allowing these crimes to happen are the ones who also have the power the prosecute. Thus, the corruption extends from the industry to the state. It is very much a situation of scratch-my-back-and-I’ll-scratch-yours.
1MDB was set up as a massive sovereign wealth fund that was used as a slush fund by various well-connected individuals.…
Brown, C. R. (2020). Crime in plain sight—1MDB. Retrieved from https://soundcloud.com/financialcrimematters/clarerewcastlebrown
Burgis, T. (2020). Kleptopia. Harper Collins.
Case, W. (2017). Stress testing leadership in Malaysia: the 1MDB scandal and Najib Tun Razak. The Pacific Review, 30(5), 633-654.
Jones, D. S. (2020). 1MDB corruption scandal in Malaysia: a study of failings in control and accountability. Public Administration and Policy, 23(1), 59-72.
Nemeth, C. P. (2019). Private Security and the Investigative Process, 4th Edition. Florida: CRC Press.
1. What is open systems theory
In essence, open systems theory, in the words of Chance and Chance (2002), posits/suggests “that organizations are dynamic systems involving constant interactions among the various formal and informal systems within the organization as well as exchanges (feedback and input) between the organization and systems outside the organization” (p. 7). It therefore follows that an organization’s structure as well as behavior is impacted upon by the permeating or surrounding environment.
2. How can open systems theory be used to understand an organization?
As per the open systems theory, organizations are not autonomous (Daft, Murphy, and Willmott, 2010). Their operations do not take place outside the world we live in. For this reason, their structure ought to be cognizant of the environment in which they do business. This effectively means that deliberate measures ought to be undertaken to embrace opportunities and concerns unique to the organization…
hat is up with all Street? The Goldman Standard and shaded of Gray
The Goldman Standard and Shades of Gray was a case study which was focused on Goldman Sachs and their impact on the economic system. Goldman has grown large enough in which their operation were capable of affecting the economic structure of our banking system, stock shares, as well as the government to a large extent. The company is obviously profit driven, but to an extent that borders on being ruthless and perpetually greedy for more money and success. Furthermore, Goldman's culture is more "toxic" today than it was in 2005, when they were involved in inflating a housing bubble that would help crash the global economy, or in 2007 and 2008, when they began desperately offloading their housing-related assets to investors who hadn't yet realized the market was going to crash; if there was a…
Antilla, S. (2013, January 8). A case of Wall Street greed gone too far. Retrieved from CNN: http://www.cnn.com/2013/01/08/opinion/antilla-goldman-stock
Hamilton, W. (2012, March 14). Exiting Goldman Sachs exec blasts firm's 'toxic,' greedy culture. Retrieved from LA Times: http://articles.latimes.com/2012/mar/14/business/la-fi-mo-goldman-greedy-20120314
Keltner, D., & Piff, P. (2012, March 16). Greed Prevents Good. Retrieved from The New York Times:
Speculating has become such a common practice in the stock market that it is an essential element of a proper stock market. It is doubtful that the stock market values would be anywhere near its current value if not for speculation.
Goldman Sachs Investigation
The Goldman Sachs investigation inquires into whether traders at a number of hedge funds and trading firms, improperly gained nonpublic information from Goldman Sachs (who gained the information from industry informants) about pending health-care, technology and other merger deals.
In the Goldman Sachs situation, certain traders benefited from privileged information of impending mergers by buying stock on those mergers before the merger was officially announced.
Thus, they were able to acquire a promising stock at a lower price than they would have otherwise. They profit by selling the stock after the merger announcement induces other traders to buy the stock and push the stock price up.…
James B. Stewart, Why Practice Insider Trading? Just Watch Warren Buffet Instead. Wall Street Journal Online. May 5, 2011.
Susan Pulliam, Michael Rothfeld, Jenny Strasburg and Gregory Zuckerman, U.S. In Vast Insider Trading Probe. Wall Street Journal Online. November 20, 2010. http://online.wsj.com/article/SB10001424052748704170404575624831742191288.html?mod=googlenews_wsj
Patricia Werhane, the Ethics of Insider Trading.
Ashby Jones, Galleon Insider Trading Probe Fingers Former McKinsey Head. Wall Street Journal. March 1, 2011. http://blogs.wsj.com/law/2011/03/01/galleon-insider-trading-probe-fingers-former-mckinsey-head/
" To that end, the Treasury Department would limit executive compensation for institutions receiving "exceptional assistance" (Geithner and Summers, 2009).
Troubles continued in the financial sector -- both Citigroup and the Bank of America needed second rounds of capital infusions, and federal guarantees against losses totaling tens of billions more -- while Ben S. Bernanke, the Federal Reserve chairman, warned that more capital injections might be needed to further stabilize the financial system. On Jan. 16, the Senate voted 52-42 to release the second round of funds (Gerth, 2009).
THE GEITHNER PLANS -on Feb. 10, Mr. Geither presented the rough outlines of the Obama administration's plan. A central piece of the proposal would create one or more so-called bad banks that would rely on taxpayer and private money to purchase and hold banks' bad assets. Another centerpiece of the plan would stretch the last $350 billion that the Treasury has…
Through situating women in business roles, Goldman Sachs is empowering individuals, but also entire communities of women who are looking into the workforce like never before seen in their particular culture in previous generations. Goldman Sachs takes a middleman approach, by connecting nonprofit organizations with necessary funding funneled through private and corporate donations. Thus, it is a sponsor of programs aimed at providing business education for women worldwide, but does not often create a program on its own. From this perspective, Goldman Sachs is a third-party participant, connecting funding with programs already in action in regions around the world.
On the other hand, Vagisil takes a very different route for empowering women around the world and fighting oppression based on gender. The company produces feminine hygiene products, and has a number of programs domestically in the United States that help promote sex and gender education in order to help empower…
Half the Sky Movement. "Funders." Turning Oppression into Opportunity for Women Worldwide. 2013. Web. http://www.halftheskymovement.org/pages/funders
This was not the case in the early days of film, however.
Instead, the studios either owned or worked in close collaboration with movie theatres, the vast majority of which had only one screen at the time. Instead of being able to choose which movie one wanted to see upon arriving at the theatre, choosing a movie meant choosing which studio's latest picture seemed most appealing, and going to that theatre. The arner brothers did not have a lot of money to build theatres with; they managed to construct a few in major cities, but that was it until Harry arner talked to independent theatre owners and convinced them to advertise arner's films for a small price (BOS 2).
The boost that arner Brothers Studios got from these advertisements allowed them to grow their business, and even obtain a large loan from Goldman Sachs that was used to build more…
Animation USA. "Warner Bros." Accessed 26 November 2009. http://www.animationusa.com/wbmore2.html
BOS. "Warner Brothers." Box office Spy. Accessed 26 November 2009. http://www.boxofficespy.com/warner-brothers-history-2.html
Warner Bros. "Company History." Accessed 26 November 2009. http://www.warnerbros.com/#/page=company-info/the_studio/company_history/
Business and finance understanding were a foundational part of my formative years, as my father worked for Merryl Lynch for 25 years. He shared with me the desire to understand and incorporate the wisdom of how the market works and how finance is a part of every day life. In doing so he not only made me wise to the sometimes complicated nature of business but he shared his love for the concepts with me and in sharing I developed my own love for business and finance. The challenges of business and finance have become a part of the foundation that drives my decision and desire to achieve and succeed in both my own life and through the success of my abilities working with this foundational part of other's lives.
I have worked hard in my life to achieve things which many people only dream of doing. After high school…
Ethics and IT
Ethics and Information Technology
Doing Ethics Analysis
This case concerns trade secret misappropriation and theft of intellectual property, as well as issues of surveillance and cybercrime. Sergey Aleynikov attempted to steal computer code from Goldman Sachs in order to build competing technology for his new employer. Goldman Sachs prosecuted Aleynikov and won a conviction. The case discusses applicable case laws, including the difficulty of enforcing non-compete and non-disclosure agreements.
Sergey Aleynikov was employed by Goldman Sachs, and as part of his employment, had signed a confidentiality agreement. Aleynikov found new employment with Teza Technologies, where he was hired to build a high-speed trading platform to compete with Goldman Sachs. On his last day of employment for Goldman Sachs, Sergey Aleynikov downloaded proprietary high-speed trading computer code for use in his new employment at Teza Technologies. Aleynikov attempted to cover up evidence of his theft by erasing and…
Australian Computer Society Code of Ethics. University of Western Australia website. Retrieved April 28, 2011 from http://undergraduate.csse.uwa.edu.au/units/CITS3200/ethics/acs-ethics.htm
Mastin, L. (2011). Basics of Philosophy. Retrieved April 28., 2011 from http://www.philosophybasics.com/branch_contractarianism.html
Sevenoaks School Philosophy Department. (2011). Ethics. Retrieved April 28, 2011 from http://www.sevenoaksphilosophy.org/ethics/egoism.html
Simpson, C. (2003). Doing Ethics: A universal technique in an accessibility contest. Retrieved April 29, 2011 from http://dl.acs.org.au/index.php/ajis/article/view/159/141
Economic crash can be viewed from a number of perspectives ranging from causes and effects to the 2008 Crash's resemblance to the Crash of 1929, which began the Great Depression. This paper will consider the 2008 recession from the standpoint of the financial banking industry, which, according to economic journalists like Matt Taibbi (2010), played a major and significant role in the crumbling of the nation's economy -- just like it did in the Lawless Decade also known as the oaring Twenties.
Big Banking Meets Big Government
What has now become known as the Era of De-egulation actually had its beginnings in the 80s decade known just as much for its rampant excess as the early 20s were known for their unbridled lawlessness. Yet, while the latter enjoyed the snubs-to-the-law bootlegging speakeasies, the former enjoyed the merging of the financial sector with the political -- which began during eagan's tenure…
AP/HuffPost. (2011). Charles Ferguson's Oscar Speech Rips Wall Street: 'Inside Job'
Director Levels Criticism During Acceptance. HuffPost Business. Retrieved from http://www.huffingtonpost.com/2011/02/28/charles-ferguson-oscar-speech-inside-job_n_828963.html
Sann, P. (n.d.). The Lawless Decade: A Pictorial History of the Roaring Twenties.
Retrieved from http://lawlessdecade.net/
Cultural Diversity in the Professions
The Goldman Sachs Group, Inc. is global investment banking, securities and investment management firm that provides a wide range of financial services geared towards a substantial and diversified clientele, which comprises of firms, financial organizations, governments as well as high-net-worth people (Forbes, 2015). This paper would focus on the company's cultural diversity that is reflected in its content, design and graphics of the website.
Accessibility of the Diversity-elated Material on the Website
There is a link for "Careers" on the website, in which there is a sub-section for "Equal Employment Opportunity and Affirmative Action" (Goldman Sachs, n.d.). Also, the homepage has a link "Who Are We" in which there is another link leading to "Diversity and Inclusion." By typing the word "diversity" in the search bar of the webpage, the results yield "Our commitment to diversity" and the company's culture that has an in-built inclination…
Forbes. (2015). America's best employers: #352 Goldman Sachs Group. Retrieved from http://www.forbes.com /companies/goldman-sachs-group/
Goldman Sachs. (n.d.). Home. Retrieved from http://www.goldmansachs.com/index.html
Hispanic Association on Corporate Responsibility HACR. (n.d.). About us. Retrieved from http://www.hacr.org/about/
NASSCOM. (n.d.). Introduction. Retrieved from http://www.nasscom.in/diversity-and-inclusion - awards-2016
The job in Structured Finance entails creation of financial vehicles to redirect cash flows to investors. Asset-backed Commercial Paper -- CP, collateralized bond obligations --CBOs and repackaged asset vehicles are the other growth areas. This job calls for a good blend of spreadsheet skills, accounting and legal expertise. Derivatives get their worth from options, swaps and futures which are instances of derivatives. This is a highly profitable business whose demand for skilled practitioners has been extremely high. Here the skills demanded are in mathematics particularly the stochastic differential equations. Advisory services are extended by the investment banks in favor of public and private banks participating in M&A & financing. This job demands evaluation of client's value, options for creation of value or on a client's industry conditions. (Investment Banking: Job Options)
Businesses. etrieved at http://www.lehman.com/business/. Accessed on 30 August, 2005
Corporate Finance: Salaries. etrieved at http://www.careers-in-finance.com/cfsal.htm. Accessed on 31…
Businesses. Retrieved at http://www.lehman.com/business/ . Accessed on 30 August, 2005
Corporate Finance: Salaries. Retrieved at http://www.careers-in-finance.com/cfsal.htm . Accessed on 31 August, 2005
Financial Planning. Retrieved at http://www.morganstanleyindividual.com/planning/financialplanning/ . Accessed on 31 August, 2005
Goldman Sachs JBWere Private Wealth Management. Retrieved at http://www.gsjbwere.com/products/default.cfm?p=AS_WerePrivate . Accessed on 30 August, 2005
On the other hand, the need to promote productivity exerts pressure in favor of incentive schemes that have the foreseen consequence of material inequality (Ibid., 8). Yet, none of these policies exist in a vacuum -- instead, the synthesis of economic tendrils and market fluctuations act in congruence to a larger paradigm of causality -- one that takes on an almost philosophical regimine.
his ideology would be little more than rhetoric for Secretary Paulson and the Bush Administration, who would operate with a much clearer intent to benefit the irresponsibility of bank owners and administrators. his would be initiated during Paulson's tenure with Goldman-Sachs, when he would help to broker the conditions by which America's banks could lend frivolously to high-risk loan candidates. Simultaneously, banks were being allowed to voluntarily abide or resist reasury oversight requiring such firms to demonstrate the reserve funds to back up these loans. (ong, 1)…
This ideology would be little more than rhetoric for Secretary Paulson and the Bush Administration, who would operate with a much clearer intent to benefit the irresponsibility of bank owners and administrators. This would be initiated during Paulson's tenure with Goldman-Sachs, when he would help to broker the conditions by which America's banks could lend frivolously to high-risk loan candidates. Simultaneously, banks were being allowed to voluntarily abide or resist Treasury oversight requiring such firms to demonstrate the reserve funds to back up these loans. (Tong, 1) With the initiation of the sub-prime mortgage crisis, where countless home and business owners found themselves unable to contend with skyrocketing interest rate terms, the banking system collapsed. (Brinsley, 1)
After helping drive these destructive policies, Paulson was appointed to the Secretary of Treasury office, where he adapted a new position in support of massive government interventionism. To some accusers, Paulson may be said to have authored independent of oversight the largest 'bailout' in U.S. history. The Wall Street Journal would report a price tag on the Emergency Economic Stimulation Act as totaling over $700 billion, much of it going through the Troubled Assets Relief Program [TARP] and into the coffers of the banks and financial firms which have created the current turmoil. (Shindelar, 7). Paulson's commitment to the procedure he used to sell all his stocks at Goldman's and his effort to reach some outcomes states the uneasiness about the ethical misconduct which is evident due to the fact that Paulson was a senior member of the government and also his former company was collapsing. Paulson assisted both Bear Sterns and Lehman Brothers - direct the competitors of Goldman Sachs. Indeed, the choice to let Lehman collapse and bail out American International Group trading associates was baffling to members of congress and the market affiliates (Clemmens, 2009). Although Paulson had no financial gain in Goldman Sachs the company had to excel. Paulson was questioned about the part he played in making Goldman Sachs get $13 billion in taxpayer funds as an outcome of bailout of the American International Group (Gretchen, et.al., 2009).
When AIG collapsed, for instance, it would cost billions of dollars to its attendant relationship
As Taibbi shows, it is not easy: "I'm going to say something radical about the Tea Partiers. They're not all crazy. They're not even always wrong. hat they are, and they don't realize it, is an anachronism. They're fighting a 1960s battle in a world run by twenty-first-century crooks" (Griftopia 16-17). Taibbi makes clear that the Tea Party is not even homogenous: it is made up of a broad spectrum of individuals (some of whom do not even want to be called Tea Partiers) who are angry and looking for someway to focus their anger.
In conclusion, recouping the losses is not an easy thing to do. hen a company like Lehman Brothers can be allowed to collapse while their competition (Goldman Sachs) can be bailed out by tax payer dollars, citizens are going to start wondering how their country got to such a point in the first place. Taibbi…
AP/HuffPost. Charles Ferguson's Oscar Speech Rips Wall Street: 'Inside Job' Director
Levels Criticism During Acceptance. HuffPost Business. Web. 8 Apr 2011.
Campbell, Andrea Louise. "Is the Economic Crisis Driving Wedges Between Young and Old? Rich and Poor?" Generations 33.3, Fall 2009: 47-53. Print.
Espo, David. "Deadline nears: Shutdown looms without agreement." Yahoo! News, 8
Big to Fail by Andrew Ross Sorkin
Andrew Ross Sorkin's book Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System -- and Themselves (Viking, 2009) presents a dramatic and informative account of the disastrous collapse of some of the nation's largest, wealthiest, and oldest financial firms on Wall Street. The book details the complex negotiations involving the heads of Lehman Brothers, Goldman Sachs, and officials in the federal government, some of whom had long previous relationships with those firms before assuming public-sector positions of trust. In some respects, that aspect of the story told by Sorkin may be the most significant as well as the least thoroughly investigated.
Specifically, U.S. Treasury Secretary at the time was Henry "Hank" Paulson, previously the CEO at Goldman Sachs was legally obligated to limit any involvement with his old firm after taking office in…
Mr. Taubman had other worries. Maybe they were being used to help Lehman goose its stock price? "If I were their guys, I'd want to put my own spin on this."
In combination, those passages (and other hints throughout the book) leave wide open the question about whether or to what degree the Treasury Secretary honored his legal obligation.
If there is a weakness to Sorkin's work, it might be that it fails to provide a more detailed explanation of the underlying problems throughout the financial derivatives market that gave rise to the problems responsible for Lehman's and Goldman Sach's and AIG's predicaments. By contrast, Michael Lewis's The Big Short: Inside the Doomsday Machine (W.W. Norton, 2010) and Moneyball: The Art of Winning an Unfair Game (W.W. Norton, 2011) both do a better job of explaining how mechanisms devised in those firms (such as so-called "credit default swaps") that were designed very specifically to circumvent regulatory policies prohibiting taking out insurance on certain kinds of investment outcome losses (Lewis, 2010; 2011). It was precisely those decisions that laid the groundwork for the risk environment exploited by Goldman Sachs and AIG that ultimately triggered their collapse and that almost took down the entire American economy when the housing bubble burst, virtually instantaneously obligating the issuers of those non-insurance types of insurance policies against the drop in mortgage derivatives to make good on those agreements (Lewis, 2010; 2011). While Sorkin presents a dramatic look into the interpersonal exchanges and relationships at the center of the circumstances leading up to the infamous Wall Street bailout, works such as those by Lewis do a better of job helping lay readers actually understand how those events actually occurred.
Llyod Blankfein is the current chief executive officer (CEO) of Glodman Sachs and has held that position since 2006. Blankfein is a native of the Bronx (New York City) attended Harvard Law School, graduating in 1979 with a Juris Doctor degree. He worked as a corporate attorney for a couple of years until beginning his Goldman Sachs career as a precious metals salesman in London in 1981.
Moving up through the ranks, he continued working for Goldman until, in 2006, he took over the reins of the company from the outgoing CEO and has run the company since that time. Blankfein is one of the highest paid executives in the financial industry. In 2007, he earned almost $54 million, following 2006 when he earned even more. His base salary during those years was approximately $600,000 so the remainder of his compensation was his bonus that was paid in cash,…
Academy of Achievement (2011) Stephen M. Case, accessed at website: http://www.achievement.org/autodoc/page/cas1bio-1 , on January 30, 2011
Kouzes, J. (2011) Leadership Management, accessed at website: http://www.suite101.com/content/leadership-a42358, on January 30, 2011
Bank of America and Merrill Lynch would have to be separated and Goldman Sachs could no longer be a bank holding company. "Commercial banks would take deposits, manage the nation's payments system, make standard loans and even trade securities for their customers -- just not for themselves. The government, in return, would rescue banks that fail. On the other side of the wall, investment houses would be free to buy and sell securities for their own accounts, borrowing to leverage these trades and thus multiplying the profits, and the risks. Being separated from banks, the investment houses would no longer have access to federally insured deposits to finance this trading. If one failed, the government would supervise an orderly liquidation. None would be too big to fail -- a designation that could arise for a handful of institutions under the administration's proposal" (Uchitelle, "Volcker," 2009).
The Volcker proposal seems sensible,…
Dash, Eric. Post-mortems reveal obvious risk at banks. The New York Times.
November 18, 2009. December 5, 2009.
"Geithner criticizes Wall Street pay." Bloomberg News. December 5, 2009.
John Perkins (2007), likewise, examines how the modern American Empire has affected our economy and our society in his book the Secret History of the American Empire.
Perkins reveals nothing new when he contends that the United States makes up "less than 5% of the world's population…[yet] consumes more than 25% of the world's resources" (p. 5). What he does do with this information is use it as a platform from which to analyze America's position in the global arena. How is America able to consume so much? According to Perkins, "this is accomplished to a large degree through the exploitation of other countries, primarily in the developing world" (p. 5).
As Howard Zinn points out, European powers, beginning in 1897, were pushing their way into China, a potential nation ripe for exploitation. The only problem was that America was not in on the action. What Zinn shows is how…
Borowski, J. (2011). Government to Blame for Rising Gasoline and Food Prices.
FreedomWorks. Retrieved from http://www.freedomworks.org/blog/jborowski/government-to-blame-for-rising-gasoline-and-food-p
Dawson, R. (2011). Why 9/11 Still Matters. Anti-Neocons. Retrieved from http://www.rys2sense.com/anti-neocons/viewtopic.php?f=11&t=26320&hilit=iran+contra
Knightley, P. (2001). Taliban Rise to Power. The Guardian. Retrieved from http://www.rense.com/general14/rise.htm
.....entrepreneur one must endure multiple hardships. These hardships define people as leaders or failures. Women in the last few decades have amidst gender inequality, started businesses. This had led to a major growth in the number of women entrepreneurs in a predominantly male-dominated area. However, while women entrepreneurship has written, the persistent inequalities and continued views of women have led to the assumption that entrepreneurship may still be gendered. Meaning, society views only men as the main bread winners and capable of being effective leaders that entrepreneurs are defined as. This paper supports this assumption and will provide evidence of gendered entrepreneurship as well as literature that goes against such notion, demonstrating the potential for the gender gap to narrow in the future.
To first understand the potential of gendered entrepreneurship, one must first define it. Gendered entrepreneurship is a hypothesis considering entrepreneurship to have gendered patterns. The UK was…
Sorkin's book does a good job of giving the details on what happened among Lehman Brothers, Barclays, JP Morgan, Goldman Sachs, the Fed, and Big Gov following the collapse. Essentially, everyone had egg on his face -- but some of the bigger powers had the muscle to save face -- and sink competitors at the same time: which is exactly what Goldman Sachs did to Lehman. Goldman had been placing its cronies in the hite House for years -- and it would now go through the hite House to see who got bailed out and who did not. AIG got one -- because it owed a large chunk to Goldman (who had figured out the game ahead of time and started betting against itself by buying insurance through AIG). Sorkin's work is a work full of the kind of details that other writer's like Taibbi and Lewis do not take…
Lewis, Michael M. The Big Short: Inside the Doomsday Machine. New York, NY: W.
W. Norton & Company, 2010. Print.
Sorkin, Andrew. Too Big to Fail: the inside story of how Wall Street and Washington
fought save the financial system -- and themselves. New York, NY: Penguin, 2010. Print.
In IBM's case, the Department of Justice found that their efforts were mired in failure. Unfortunately, IBM was so central to the economic operations of Germany and occupied Europe that it was necessary to preserve IBM's role in the economy of Europe so as not to jeopardize the postwar occupation.
Part II-Present Corporatist America and Comparisons with Fascist Italy-
When the Wall Street Journal, the United States' newspaper of record for financial affairs makes an explanatory note, it gives us all pause. Gerald F. Driscoll in "An Economy of Liars" takes aim at both the Obama and George W. Bush administrations when he speaks about the present economic reality and asserts "We call that system not the free-market, but crony capitalism. It owes more to Benito Mussolini than to Adam Smith ("An Economy of Liars" 2010)."
If a communist agitator on the proverbial soapbox spouted this statement, it could be…
Alter, J. 2006, the Defining Moment: FDR's Hundred Days and the Triumph of Hope,
New York, Simon and Schuster.
Black, E. 2001, IBM and the Holocaust, Crown Publishers, New York.
(1965) "The Economy: We Are All Keynesians Now," Time, Available from http://www.time.com/time/magazine/article/0,9171,842353-1,00.html
The world's largest economy has seen much since the financial crisis of 2008 began the role toward the precipice in terms of the all Street corruption. Transparency president Nancy Boswell maintains that it is an "integrity gap "(Graham, 2010).
However, this author will identify a different issue. Indeed, this author's view is very long and will take a historical approach in order to prevent another Great Depression, the Congress under President Franklin Delano Roosevelt separated all Street investment banks and regular depository banks. This took away the potential to make incredible profits from trading mortgage-backed securities whose ratings were artificially high. These encouraged banks to take what otherwise would have been intolerable risks in the form of bad loans that were later termed "toxic debt." Under this regime, people were obtaining home loans too easily (known derisively as "liars loans") and that exacerbated the decline once it started (Krugman).
Gettleman, J. (2010, March 16). Somalia's president assails u.n. report on corruption.
Retrieved from http://www.nytimes.com /2010/03/17/world/africa/17somalia.html.
Graham, D. (2010, October 26). U.s. slips to historic low in global corruption index.
Retrieved from http://www.reuters.com/article/2010/10/26/us-corruption-transparency-idUSTRE69P0X620101026 .
In fact, many of them are more likely to make sure that as much space is provided when it comes to taking over the Internet. For example, these individuals want to make sure that they are likely to get what it is they want by having a Web presence. This means that they are going to do everything possible to have as many contacts as possible from off the Internet in order to get as much revenue as possible that it could lead to a monopoly. In essence, if a monopoly does occur, then they are going to face breaking the law in the process. Furthermore, privacy issues are concern because of how much of a giant they have become since the inception of the organization as of 2004 (Facebook, 2011d).
By studying Porter's Five Forces, one learns that Facebook is an MNE that is as big as Google. They…
Facebook. (2011a). About Facebook. Retrieved June 25, 2011, from Facebook: http://www.facebook.com/press/info.php?factsheet
Facebook. (2011b). Statistics. Retrieved June 25, 2011, from Facebook: http://www.facebook.com/press/info.php?statistics .
Facebook. (2011c). Timeline. Retrieved June 25, 2011, from Facebook: http://www.facebook.com/press/info.php?timeline .
Facebook. (2011d). Executives. Retrieved June 25, 2011, from Facebook: http://www.facebook.com/press/info.php?execbios .
Politics is a lucrative business, as the federal government is constantly handling billions of dollars, and making big decisions that have implications for dozens of industries across the country. It is no wonder, then, that politicians find their expertise and connections in ashington to be an asset when considering a post-political career. This phenomenon is called revolving door politics, and it has negative connotations for the fairness of the American lobbying system, and to what extent the U.S. government is willing to provide oversight to the contracts and laws it passes. (Taibbi, 2012)
The revolving door is a problem because it impedes on the so-called iron triangle, which is the separation of spheres of influence between citizens, corporations, and government. hen corporations and government work together too closely, it leads to corruption, inefficiency, and loss of competitiveness, which is bad for a free market society.
This example was…
Foley, S. (18, November 2011). "Goldman Sachs Conquers Europe." The Independent. London. Retrieved from, http://www.independent.co.uk/news/business/analysis-and-features/what-price-the-new-democracy-goldman-sachs-conquers-europe-6264091.html .
Taibbi, M. (11, January 2012). "Revolving Door." Rolling Stone Magazine. New York. Retrieved from, http://www.rollingstone.com/politics/blogs/taibblog/revolving-door-from-top-futures-regulator-to-top-futures-lobbyist-20120111 .
Tempest, R. (June 2010). "Before Deepwater Horizon Disaster." "Wyoming File. Idaho Falls. Retrieved from, http://wyofile.com/2010/06/before-deepwater-horizon-disaster-wyomingites-had-key-roles-in-mms .
ole of Technology in Corporate and Social esponsibility
Insider trading. The insider trading case that has become most prominent is that against aj ajaratnam who ran the hedgefund Galleon Group, and was charged along with his co-defendant, Danielle Chiesi, a former consultant with New Castle Funds, LLC ("Insider Trading," 2010). ajaratnam was convicted of 14 counts of insider trading, which makes this case the largest scheme concocted by a hedge fund ("Insider Trading," 2010). ajaratnam's sentence was 11 years in prison accompanied by a $10 million fine ("Insider Trading," 2010). ajaratnam was part of a "triangle of trust" that functioned as a deliberately corrupt business model in which inside information is fed through networks of experts to traders within various companies ("Insider Trading," 2010). Along with five others, ajaratnam worked with a network of consultants and insiders to net in excess of $20 million between the years 2006 to 2009…
Angwin, J. (2010, July 30). The new gold mine: Your secrets. The Wall Street Journal. Retrieved http://online.wsj.com/article/SB10001424052748703940904575395073512989404.html A web of insider trading charges. (2010, April 1). The New York Times. Retrieved http://www.nytimes.com /interactive/
Insider Trading, Times Topics, (2011, December 6). The New York Times. Retrieved http://topics.nytimes.com/topics/reference/timestopics/subjects/i/insider_trading/index.html
Representative Stearns introduces consumer privacy protection act. (2011, April 15). Privacy and information Security Law Blog. Hunton & Williams LLP. Retrieved http://www.huntonprivacyblog.com/2011/04/articles/representative-stearns-introduces-consumer-privacy-protection
Financial Analysis of Lehman rother
The history has been full of financial collapses and financial scandals and one of the biggest financial collapses that a company has ever seen was that of Lehman brother. The collapse of a firm as huge as Lehman rother and a firm which has such great experience of over a hundred years lead the world into a shock. It created doubts in the minds of people regarding the condition of other financial institutions. The history of Lehman rother is rich which is further discussed.
The history of Lehman rother dates back to 1844, when a boy named Henry who was a 23-year-old son of a cattle merchant who immigrated to the United States from Germany and he settled in Alabama State of the United States where he opened dry goods store. In 1847, when Henry Lehman's elder brother arrived to Alabama, the firm…
1. Bebchuk, L.A., Cohen, A., & Spamann, H. (2010). The Wages of Failure: Executive Compensation at Bear Stearns and Lehman 2000-2008. Yale Journal on Regulation,27(2), 257+.
2. Blake, D. (2000). Financial Market Analysis. New York: Wiley. Cetorelli, N., Mandel, B.H., & Mollineaux, L. (2012). The Evolution of Banks and Financial Intermediation: Framing the Analysis. Federal Reserve Bank of New York Economic Policy Review, 1+.
3. Dwyer, G.P., & Tkac, P. (2009). The Financial Crisis of 2008 in Fixed Income Markets.Federal Reserve Bank of Atlanta, Working Paper Series, 2009(20), 1+.
4. Fitzpatrick, T.J., & Thomson, J.B. (2011). How Well Does Bankruptcy Work When Large Financial Firms Fail? Some Lessons from Lehman Brothers. Economic Commentary (Cleveland), (2011-23), 1+.
My portfolio was constructed out of six stocks that are all market leaders. I was looking at mutual funds but could not find beta information so I went with all stocks. Each stock has a beta, which reflects the risk that company has, specifically how the stock moves in line with the market. This is not a causal relationship, just corollary -- the asset does not "react" to the market, it moves in line with investor expectations about its future, and the beta simply measures how those moves correspond with moves in the broad market.
In this paper, I outline the portfolio, along with the individual betas for each security, and the weighting of each asset in the portfolio. One of the important steps in portfolio management is the calculation of the portfolio beta. This is simply the weighted-average of the individual betas within the portfolio. A chart is…
Investopedia. (2014). Beta coefficient. Investopedia. Retrieved April 29, 2014 from http://www.investopedia.com/terms/b/beta.asp
Presidency and Congress
Evaluate Dickinson's thesis, in the light of the evidence he provides in his article, and the evidence I provided in lectures. Is Congress now a nationalized legislature? Or is it still a collection of representatives of local and special interests?
Matthew Dickinson's article provides a fascinating take on the state of the U.S. Congress as society knows it- Dickinson states that "all politics are local" and that 'Congress had entered a new, more partisan area of increasingly nationalized politics"; but, though fascination, Dickinson is far from the mark. Congress remains partial and politics is very much apparent at the national level, in addition to the local level.
Foremost, the fundamental underpinning of Congress is that it would be a collection of representative from local districts and states, with each district and state fostering special interests. The reason that individuals elect certain people to Congress is to represent…
Agiest, Jennifer. "Government Shutdown Averted, But Bigger Battles are soon to come." Huffington Post 28 Sept 2011. n. pag. Web. 28 Sep. 2011. .
Feldman, Linda. "The Campaign Contribution Scramble: Will Mitt Romney keep his GOP Lead?" The Christian Science Monitor. 27 Sept 2011. Web. 28 Sept 2011.
Rauhala, Emily. "Goldman Case Splits SEC down party lines." Newser 20 April 2010. n. pag. Web. 28 Sep. 2011. .
Honeywell's organizational culture emphasizes attention to detail as part of the firm's commitment to excellence, growth, and consumer satisfaction. There are four pillars to Honeywell's organizational culture and the first and foremost is the one that focuses squarely on the employee's need to pay close attention to everything that he or she is expected to do. This includes having leaders who are able to adapt across cultures and be responsive to the complex needs of others who live and work outside the immediate circumference in which the director, leader, manager or lower-level employee is used to operating in (Kelley, 2016, p. 213). This paper will describe how Honeywell's culture and commitment to attention to detail has paid off for the company over recent years, as the firm has succeeded in boosting net income to more than $6.5 billion in the most recent fiscal year (Honeywell Annual Report, 2016).
The creation of the state of Israel in Palestine lent Jews in America a degree of legitimacy. And Jewish-Americans were now on the cusp of a new reality.
Unit IV: 1946-1976
In the 1950s the Anti-Defamation League sought to have the immigration laws of decades prior repealed. President Truman was sympathetic to the millions of displaced persons, a good portion of which were Eastern Europeans of Jewish descent. Even though America was largely outraged at news of the Holocaust, many Americans reserved the suspicion that Jews were crooked bankers secretly poised for world domination. The immigration laws were not repealed.
The 1950s also saw a debate concerning the census of 1960: should it contain religious questions? Here was an issue that embraced social, political and religious points all at once. The way Jewish-Americans faced the issue had repercussions for the entire nation. The book Protestant-Catholic-Jew had helped establish the idea…
General Grant's Infamy. (2010). Jewish Virtual Library. Retrieved from http://www.jewishvirtuallibrary.org/jsource/anti-semitism/grant.html
Goodkind, S.B. (1918). Prominent Jews in America. Toledo, OH: American Hebrew
Hollinger, D. (2009). Communalist and Dispersionist Approaches to American Jewish
The limitations of Paulson's role also reflect the social and political contexts of his actions. The role of Treasury Secretary has changed little in decades, and the powers of the office are as such limited. Paulson points out that "innovation precedes regulation," a situation that leaves him in frustration when dealing with Bear Stearns and other impending crises. This reflects another challenge of his job -- at Goldman Sachs he was CEO, with virtually unlimited power. As Treasury Secretary not only does Paulson have a boss, but his powers are constrained because the Treasury is merely one branch of a much larger regulatory machine. The ways in which powers are portioned out and limited have a significant impact on Paulson's ability to manage such crises. Managing with only limited power requires a different skill set than managing as CEO.
Political actors are also expected to be strong communicators. Purdum points…
Purdum, T. (2009) Henry Paulson's long night. Vanity Fair. Retrieved March 8, 2010 from http://www.vanityfair.com/politics/features/2009/10/henry-paulson200910
Krugman, P. (2007). Henry Paulson's priorities. New York Times. Retrieved March 8, 2010 from http://www.nytimes.com /2007/12/10/opinion/10krugman.html
Once the report is analyzed, we have a sense of how the SOT will shape up. However, this must be supplemented with sources that have less bias. For a company analysis, this tends to be the financial news, of which there are dozens of quality sources. Academic research seldom provides sufficient or timely insight into a company's operations, but may have value for broad-based issues. The insurance industry, for example, is the subject of economics-related academic papers. However, the financial markets are driven by access to detailed, accurate and timely information. Money, rather than academic reputation, is at stake, and that makes these sources far more valuable in our ability to understand a company and its operations. Thus, the financial news should be scoured for facts, insight and analysis with regards to Allstate's operations and role within the insurance industry.
The process used to learn about Allstate will need to…
No author. (2008). Commercial Insurance 2008. Insurance Information Institute. Retrieved August 6, 2008 from http://www.iii.org/media/facts/
No author. (no date). Considerations in Writing Success Criteria. University of South Carolina. Retrieved August 6, 2008 at http://hr.sc.edu/profdevp/classes/epms/handouts/epms.handout4.pdf
No author. (2008) Gap Analysis. University of Cambridge. Retrieved August 6, 2008 at http://www.ifm.eng.cam.ac.uk/dstools/choosing/gapana.html
Barr, Stacey. (2008). How to Make Your Performance Measurement Plan Realistic. ArticleBase. Retrieved August 6, 2008 at http://www.articlesbase.com/management-articles/how-to-make-your-performance-measurement-plan-realistic-510016.html
Sociology Politics and Economic Life
Over the last several years, the political and economic system has been experiencing tremendous amounts of turmoil. Part of the reason for this, is because of the implosion in the asset prices related to the housing crisis and deregulation. To fully understand how this contributed to the current situation requires looking at the current state of democracy and equality in the United States. This will be accomplished by looking how the social elite manipulated these areas and the practices that have contributed to the current situation. Once this occurs, is when we will be able to offer the greatest insights as to how these factors are impacting the economic and social balance inside the nation.
Discuss how elites manipulated the political and economic systems to advance their interests and how these practices contributed the current economic crisis.
The way that social elite manipulated the political…
Inside Job. (2011). IMDB. Retrieved from: http://www.imdb.com/title/tt1645089/
Brinkerhoff, D. (2008). Essentials of Sociology. Belmont, CA: Thomson.
Macy's Discussion Questions And Executive Summary
A detailed description of the environment Macy's clothing store will face.
It appears that the department stores of the previous century are dwindling in size and popularity. The environment that was once the department store's territory has been consistently infiltrated by competition from every side. There are the up and coming specialty stores, the Internet, luxury chains, wholesalers and the shopping mall. Back in the early 1980s the number of department stores that spanned the country as national chains were 33. In the 21st century that number has declined to less than 15. The environment that Macy faces today is truly a challenge as the need for personal service has to some degree been replaced by convenience. For example with online stores, why go out to shop amidst a sea of traffic and shoppers to wait for services, when it is easier and much…
Rising Cost of Fuel
The price of light, sweet crude oil on NYMEX has been above $40/barrel since late July 2004. y October the price of crude oil had temporarily surpassed $55/barrel. In the United States (U.S.), the Consumer Price Index rose by 0.6% compared to 0.2% for September. This was driven by a 4.2% increase in energy costs. In this paper, we will examine two arguments: the primary cause, or causes of the rise in the price of fuel and the impact on the U.S. economy.
The cause of the rise in fuel prices is the current demand for petroleum in relation to the supply. High demand is coming from increased industry in emerging third world nations including India and especially China which is developing a large car culture and whose manufacturing bases have grown very rapidly in recent years. Consumption in 2004 compared to 2003 according to DOE…
Attarian, John. (2004, 3 October). Gas Prices Soar as Oil Reserves Near Peak. The DetroitNews.com. Retrieved July 17, 2005 from http://www.detnews.com/2004/editorial/0410/04/a17-291458.htm .
Coile, Zachary. (2005, 27 May). Offshore Drilling Bill Makes Way to Senate Floor. San Francisco Chronicle. Retrieved July 17, 2005 from http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2005/05/27/MNGNECVGJE1.DTL .
Dolbeck, Andrew. (2005, 31 January). Valuation of the Oil and Natural Gas Industry. Weekly Corporate Growth Report. Retrieved July 17, 2005 from http://www.findarticles.com/p/articles/mi_qa3755/is_200501/ai_n9521625 .
Greenspan, Alan. (2005, 5 April). Energy. Before the National Petrochemical and Refiners Association Conference, San Antonio, Texas (via satellite). Retrieved July 17, 2005 from http://www.federalreserve.gov/boarddocs/speeches/2005/20050405/default.htm .
Pacific Coast Banking School
The Premier National Graduate School of Banking™
Credit Risk Management Extension Assignment Grade Sheet
Group a: Due February 23, 2012
FOR GRADER USE ONLY:
Graded by Christine Corso for John Barrickman
CREDIT RISK Management
2011 Session Instructor:
Group A: Due February 23, 2012
Add a brief biographical paragraph about your background
Certificate of Originality
"I certify that this paper represents and contains my own work. I have placed all quotations from other sources in a form to indicate that they did not originate with me and I have cited the work from which the material was taken. I have included footnotes for all information and ideas that I have taken from other sources. I have not shared and will not share my completed work with any other PCBS student nor have I read the completed work of any other…
Altman, E. (2008). MANAGING CREDIT RISK: THE CHALLENGE FOR THE NEW MILLENNIUM. Retrieved from Stern School of Business: http://pages.stern.nyu.edu/~ealtman/2-%20CopManagingCreditRisk.pdf
Bedell. (2009, September). TCM Guide: Holistic Risk Management. Retrieved from Global Finance: http://www.gfmag.com/archives/104-september-2009/2372-tcm-guide-holistic-risk-management.html#axzz1sMx8vpCj
Coen, W. (1999, July). Principles for the Management of Credit Risk - consultative document. Retrieved from Bank for International Settlements: http://www.bis.org/publ/bcbs54.htm
LaCapra, L. (2012, April 17). UPDATE 5-Goldman dials back risk, profit falls. Retrieved from Reuters: http://www.reuters.com/article/2012/04/17/goldman-idUSL2E8FH5XC20120417
BIC Auto Market
Should GM Invest in China?
The world has been moving away from the Western dominance that has held it for the past several centuries for the past few decades. As the world's largest populations grow economies to match, the United States and other G6 nations will dwindle in influence. This means that companies need to invest heavily in the BIC nations if they are to compete globally in the near future. The given question is whether General Motors (GM) should invest heavily in China as that nation's population begins to have more individual economic means, or another of the BIC nations (Brazil, ussia, India, China) due to more rapid growth. This essay will examine the question and determine an answer from the research.
In a report completed for Goldman Sachs investment company, Wilson and Purushothaman (2003) estimated that China would pass all of the G6…
Lang, N.S., Mauerer, S., Aguiar, M., Kreid, E., Bhattachariya, A., & Nettesheim, C. (2010). Winning the BRIC auto markets. Retrieved from https://www.bcgperspectives.com/content/articles/automotive_globalization_winni ng_the_bric_auto_markets/
Wilson, D., & Purushothaman, R. (2003). Dreaming with BRICs: The path to 2050. Goldman Sachs Global Economics Paper, 99, 1-24.
Advice (SOA): Financial Planning
Purpose of this document is to prepare a statement of advice (SOA) on the financial planning for David Smith and Brenda Smith to achieve their financial goals. The advice is to communicate important information to clients in order to make informed decision about their financial portfolios. This document is a Statement of Advice or 'SOA' used to explain my advice, and highlights the important points. Please, be sure to read all sections of the SOA.
Summary of my Advice
I recommend that you sell your shares and reinvest the funds in the managed funds, which will assist you to get a return between $17,000 and $29,000 a year. Moreover, I recommend that you invest 60% of your superannuation in the managed funds. I carefully choose the categories of the managed funds that you could invest your money. Based on my recommendation, you are likely to get…
Australia Government (2010).Investment Management Industry in Australia. Australian Trade Commission.
Garrett, S.(2008). The Benefits of Mutual Fund Investment in an Uncertain Economy. (Second Edition). Wiley Publication.
InvestSmart.(2013).Top performing Managed Funds. InvestSMART Financial Services Pty Ltd.
Investing (2013).Australia - Government Bonds. Fusion Media Ltd.
Netflix Raises Prices, Lowers Investor Confidence
Netflix has reached a new low as it broke its 52-week low, erasing 12 months of considerable growth. This news happening after massive losses of users after Netflix announced in July that it was raising the price of its most popular subscription plan by 60%. A move Netflix officials say is necessary to maintain the entertainment subscription services offered by the company amidst higher costs and changes in the broader state of the economy. Despite being the largest single entity consumer of internet Bandwidth in the world, Netflix has had its ups and downs over the past year. Two financial firms, Barclays Capital and Goldman Sachs, have lowered their expectations of Netflix for the near future. Goldman Sachs has reevaluated the stock to be $270 per share, from earlier estimations of $330 per share. Likewise, Barclays Capital has evaluated Netflix stock to be $260…
HSBC is one of the world's largest banks, and it has the third-largest market share among UK retail banks. This massive global footprint supports a differentiation strategy that is encapsulated by the "the world's local bank" slogan. HSBC plays to its strengths with a presence in many major markets around the world, but its strength in retail and commercial banking belies a relative weakness in investment banking.
The banking industry is highly competitive. In the UK at the retail level it is in an oligopoly state. The company also competes among the global banks of the world, which is a business more in a state of monopolistic competition. It has a differentiated strategy, which is loosely based on a broad geographic scope and customer service. The latter is a difficult area in which to differentiate. There have been some problems with the geographic scope, too, and HSBC has recently left…
Fortune Magazine (2015) Global 500. Fortune. Retrieved December 3, 2015 from http://fortune.com/global500/
Hofford, A. (2015). HSBC restructuring shows universal banks are coming back down to earth. The Conversation. . Retrieved December 3, 2015 from http://theconversation.com/hsbc-restructuring-shows-universal-banks-are-coming-back-down-to-earth-43034
HSBC 2014 Annual Report. Retrieved December 3, 2015 from http://www.hsbc.com/~/media/hsbc-com/investorrelationsassets/annual-results-2014/hsbc-holdings-plc/annual-report-and-accounts-2014
Interbrand (2015).. Top 100 global brands. Interbrand. Retrieved December 3, 2015 from http://interbrand.com/best-brands/best-global-brands/2015/ranking/
The political pressure of the past several years following the dot.com bubble and the collapse of several major companies created a need for new securities legislation, which culminated last year in the Sarbanes-Oxley Investor Protection Act, which establishes new guidelines for the securities industry. Initially a Democratic brainchild, the act became favored by epublicans in the House when it was realized that such adjustments would be of great benefit to shareholder value in that they enhanced general financial stability. This is the most prominent piece of financial legislation since the establishment of the Securities and Exchange Commission in the early 1930's. The most widely recognized feature of the new legislation, which was introduced in 1992, is that board members are held personally and criminally liable for the accounting practices that the company employees. This act also establishes guidelines as to the coverage of securities by sell-side analysts who face…
Resources and Authority
Studies and Reports
Corporate and Criminal Fraud Accountability
White Collar Crime Penalty Enhancements
Corporate Tax Returns
Many H performance issues result underlying motivational problems external work environment finance. Describing a motivational problem hinders goal attainment. Briefly describe problem (,) Use theory motivation explain problem
H performance issues:
Motivational problems in the financial services industry
"Often an employee knows how to perform correctly, the process is good, and all resources are available, but for one reason or another, chooses not to do so, which normally means it is a motivational issue" (Clark 2010). In the past, during the era of scientific management, motivational issues were dealt with by rigorously governing employee movement in a very strict and controlled fashion. However, this can stifle employee creativity and enthusiasm for the task. The obvious motivator for most people to work is money. For example, in the financial services industry, money is a major motivator in terms of how salary and compensation is structured. The expectation of a…
Clark, Don. (2010). Motivation and performance. Big Dog Little Dog. Retrieved from:
Hollon, John. (2011). Weekly wrap: Best Buy and ROWE -- Yes, flex work works, at least for them. TLNT. Retrieved from:
China is predicted to become a global power and in the coming polarization of the world there would be triple set of polarization, of the U.S. And the west, China and India being the three big countries that would matter in the world. (Virmani, 208) Japan finds no place in the scale of the magnitude of the countries operations. The projection of China's GDP is a good indicator of what would come. The projections show that while the GDP was 7.1 as per Goldman Sachs for 2006-2010 the future prediction by the same agency for 2029-30 was 41. That is a great leap that was predicted. (Finn, 42)
However after globalization the Yuan was being paired in Forex. In January 2009 the treasury secretary of U.S., Tim Geithner, made a statement that China has been manipulating its currency, the Yuan -- and this according to him and other…
Alexander, Arthur J. The arc of Japan's economic development.
Chng, M.K; Hirono, Ry-kichi, et. al. ASEAN-Japan industrial co-operation: an overview.
ASEAN Economic Research Unit, Institute of Southeast Asian, 1984.
The following quotation provides an indication of the changes that an emerging China represents. "We are now witnessing an historic change, which though still relatively in its infancy, is destined to transform the word. The developed world...is rapidly being overhauled in economic size by the developing world. (Jacques, 2009, p. 2) This view is also supported by other predications such as the projections by Goldman Sachs that "…the three largest economies in the world by 2050 will be China, followed by a closely matched America and India some way behind…" (Jacques, 2009, p. 3)
In the final analysis, an ideological impetus and the struggle for power were the main reasons for the inception of the Cultural evolution. This revolution brought about many dramatic changes in the society that had mainly negative social and economic consequences. However, it is also possible that the excesses and failures of the Cultural evolution have…
Chen, Jack 1976, Inside the Cultural Revolution, Sheldon, London.
Cohen, M.L. 1993, 'Cultural and Political Inventions in Modern China: The Case of the Chinese Peasant', Daedalus, volume 122, no 2.
Fenby, J 2008, the Penguin History of Modern China: The Fall and Rise of a Great Power, 1850 to 2008, Allen Lane, London
Gao, M 2008, the battle for China's past: Mao and the Cultural Revolution, Pluto Press, London.
ach of these companies has totally different organizational cultures and climates. Some stress teamwork and collaboration. Others allow tremendous independence and flexibility. Some are democratically organized whereas others have a rigid organizational hierarchy. The organization should make their recruitment practices reflect these core organizational ideals, beliefs and practices. No matter what the organizational culture and its underlying values, hiring practices should proudly mirror them. The only way to attract and retain the most valuable employees is to be forthright about what it means to work for the company.
Based on rickson & Gratton's (2007) research, our organization should conscientiously outline our signature experience. To do so, we must first analyze our organizational culture and the values and goals that underlie it. We must identify the specific needs we need our employees to fill, and understand exactly what types of employees will fit the bill. Above all, we need to…
Erickson & Gratton (2007) analyze the recruitment practices of several successful firms including Whole Foods, the Container Store, and Goldman Sach's. Each of these companies has totally different organizational cultures and climates. Some stress teamwork and collaboration. Others allow tremendous independence and flexibility. Some are democratically organized whereas others have a rigid organizational hierarchy. The organization should make their recruitment practices reflect these core organizational ideals, beliefs and practices. No matter what the organizational culture and its underlying values, hiring practices should proudly mirror them. The only way to attract and retain the most valuable employees is to be forthright about what it means to work for the company.
Based on Erickson & Gratton's (2007) research, our organization should conscientiously outline our signature experience. To do so, we must first analyze our organizational culture and the values and goals that underlie it. We must identify the specific needs we need our employees to fill, and understand exactly what types of employees will fit the bill. Above all, we need to remain true to our values as an organization and honest about how we operate.
Goffer made over $300,000 from the illegal deal. As the case expanded, 13 others were also charged. Altogether, they had acquired approximately $40 million or more in profit during the years 2006-2009 (Krantz). And the list could go on and on.
Conclusion - How Does Illegal Insider Trading Affect the Market and Economy?
Unfair advantage. Violation of transparency. Disruptive of a properly functioning market. Investors no longer invest. It begins with the first one and ends with the last. Trading in the market, whether by a professional or an amateur is based on skill and luck. One investor can perform better in the market because he or she learns how to acquire more skill in analyzing equities. But, if one person has an advantage such as inside corporate information no one else has, and he uses it to trade, he now has an unfair advantage (Heakal).
Transparency is now violated…
Heakal, R. "Defining Illegal Insider Trading." n.d. Forbes Investopedia . 18 December 2009 .
Hoffman, D. "Martha Stewart's Insider Trading Case." 1 July 2007. allbusiness.com. 18 December 2009 .
Krantz, M. "On warpath, SEC charges 11 with illegal insider trading." 15 July 2009. usatoday.com. 18 December 2009 .
ProCon.org. "Should Insider Trading by Congress be Allowed?" 11 August 2009. ProCon.org. 18 December 2009 .
But amid the celebration, crucial opportunities have been lost: In September 2009, the "inspector general for the Troubled Asset Relief Program, a k a, the bank bailout fund, released his report on the 2008 rescue of the American International Group, the insurer. The gist of the report is that government officials made no serious attempt to extract concessions from bankers, even though these bankers received huge benefits from the rescue. And more than money was lost. By making what was in effect a multibillion-dollar gift to all Street, policy makers undermined their own credibility -- and put the broader economy at risk" (Krugman 2009). Many banks have given back their TARP funds, in exchange for the ability to once again engage in risky activities, to pay traders the bonuses they desire, and to pay executives what seems to be overinflated compensation. In June ten of the largest recipients of aid,…
Cohan, William. "A tsunami of greed." The New York Times. March 11, 2009.
December 8, 2009.
"Credit Crisis." Special feature. The New York Times. Last September 22, 2009.
There are rumors, the Forbes report goes on, "that the owners are looking to sell the team, which has sizeable debt and has had a hard time attracting season ticket holders" (Forbes).
Another struggling franchise mentioned often in analysis as a financial loser is the Atlanta Thrashers. Forbes reports the team lost 10% of its value in the 2008-09 season and is now worth $143 million. Local revenue per fan is $10 and the Thrashers' debt is 46% of its total value; player salaries were $39 million and gate receipts were $23 last season. "A nasty and continuous legal battle amongst the eight owners…has resulted in the team turning to Goldman Sachs for investors"
(Forbes). Although the Thrashers are not in the so-called Sun Belt, Atlanta is not known for ice, snow, and cold, like the more traditional hockey venues experience.
The financial struggles of some teams today is not…
Badenhausen, Kurt, Ozanian, Michael K., and Settimi, Christina. (2009). "NHL Team Valuations: The Business of Hockey." Forbes Magazine. Retrieved Dec. 1, 2009, from http://www.forbes.com .
Baird, Michael (2005). "NHL Finances: Skating On Thin Ice." Sports Facility Reports. Retrieved Nov. 30, 2009, from http://www.law.marquette.edu/s3/site/images/sports/facilityarticlelled.pdf .
Forbes (2009). "NHL Team Valuations: #18 Tampa Bay Lightning." Retrieved Dec. 2, 2009 from
Edgar Hoover, makes public its continuing investigation into the activities of black nationalist organizations, singling out the Black Panther Party in particular, Hoover viewing the group as a national security threat.
January 05, 1970
Blacks Move Out of Inner Cities: The Bureau of Census statistics show as the quality of life in poverty-stricken urban communities worsens, a continuous stream of middle-class blacks escape to higher-income neighborhoods and suburbs.
February 13, 1970
First Black Member of the New York Stock Exchange: Joseph L. Searles III becomes the first African-American to become a member of the New York Stock Exchange, starting his training as a floor partner with the firm of Newberger, Leob & Company.
June 16, 1970
Gibson Elected Mayor of Newark, New Jersey: Kenneth A. Gibson was elected mayor of Newark, New Jersey on this date. He also became the first Black president of the Conference of U.S. Mayors during…
African-American male unemployment: Robert Carmona. (2007). Congressional Testimony.
Retrieved May 12, 2009 from HighBeam Research: http://www.highbeam.com/doc/1P135839035.html
Algernon Austin. (2008, January 18). What a recession means for black America. EPI Issue Brief
#241. Retrieved May 13, 2009 from http://www.epi.org/publications/entry/ib241/
2.3: Theme I: This study's first theme defines hedge funds and presents a synopsis of their history.
2.: Theme 2: Ways hedge funds compare to mutual funds are noted in this section, this study's second theme.
2.5: Theme 3: segment denotes techniques hedge funds utilise in investing.
2.6: Theme : A number of ways rising and falling markets impact hedge funds, this section's theme links to the thesis statement for this thesis/Capstone.
2.7: Analysis: The analysis section presents a number of pertinent points retrieved from the reviewed literature.
CHAPTER III: DISCUSSION; CONCLUSIONS; RECOMMENDATIONS
3.1: Introduction: This final chapter's introduction reviews the original study aim and objectives presented at the start of this thesis/Capstone, relating to hedge funds techniques. This section also recounts this study's thesis statement.
3.2: Discussion: During this segment, this researcher relates final considerations regarding hedge funds techniques, cross-referencing several points the reviewed literature noted. This researcher also…
4. The Investment Advisers Act.
The Securities Act of 1933, (SEC):
…oversees the mutual fund industry's compliance with specific regulations, including, the Internal Revenue Code which set additional requirements regarding a fund's portfolio diversification and its distribution of earnings, and the National Association of Securities Dealers, Inc. (NASD) oversees most mutual fund advertisements and other sales materials. In addition, mutual funds must have directors who are responsible for extensive oversight of the fund's policies and procedures. For virtually all funds, at least a majority of their directors must be independent from the fund's management.
In summary, we recommend that the IESBA reconsiders the proposals in the Exposure Draft and provides more guidance on safeguards applicable to sole practitioners and small accounting firms to ensure that the benefits of the changes outweigh the costs to SMEs. Under a principle-based approach, there should be safeguards and practical relief for all practitioners rather than rules-based outright prohibitions. The rewrite of this Independence component of the Code is substantially rules-based rather than principles-based. In this regard, we also encourage the IESBA to prioritize the redrafting of the entire Code using a similar drafting convention to that used by the International Auditing and Assurance Standards Board in its Clarity project" (IESBA Exposure Draft of Sections 290 and 291 of the Code of Ethics on Independence - Proposed Additional equirements in relation to Internal Audit Services, elative Size of Fees and Contingent Fees 2007).
There will also be an all-time…
Kreitner, R., and Kinicki, a. (2004). "Organizational behavior," 6e; [Chap. 17]; [Chap. 18]. Accessed December 19, 2007, from MBA520, eResource, week 5, eBook Collection database.
McShane, and Von Glinow. (2005). "Organizational behavior" (3rd ed.). New York: McGraw-Hill.
); Muret, Don. (1999). "Former Disney VP stresses teamwork at cafe." Amusement Business, 111(49), 22. Accessed August 17, 2007, from EBSCOhost database.
Frazee, Bonnie. (2004). "Organizational Behavior and the Learning Process" Accessed December 19, 2007, at http://www.clomedia.com/content/templates/clo_feature.asp?articleid=698&zoneid=29
The novelty element presented by realtor.com is their mixture of the three concepts into a single Integrated Internet Strategy. The IIS "consists of market, policy, and information technology components working in either complimentary, cumulative, or alternative fashion." The combined model offers a better coverage and understanding of the external environment and increased chances of satisfying customers' needs and surpassing the competition.
A f) the mix of clicks and bricks
The mix of clicks and bricks represents "a sales model that utilizes both traditional stores (bricks) and Internet trading (clicks)." The combination is rather conceptual in the case of Realtor's, generally because the www.realtor.comwebsite is used for customers' information and assistance, and the transactions being completed during face-to-face meetings, rather than online. It is however possible for online sales to become a future feature, but this will require increased safety measures.
A g) Competitor analysis / Customer analysis
The National Association…
2007, Realtor.com, http://www.realtor.com/,last accessed on November 20, 2007
2007, comScore Inc., a Global Internet Information Provider, http://www.comscore.com/,last accessed on November 20, 2007
2007, National Association of Realtors, http://www.realtor.org , last accessed on November 20, 2007
2007, Magic Bricks Website, http://www.magicbricks.com/property/faces/jsp/indexc.jsp, last accessed on November 20, 2007
Sorkin, however, posits no argument per se. ather, his book offers insight into how the financial crisis manifested from a far more personal perspective of those involved than anything else. The book is informative in nature, and give insight into some of the thought processes and activities those on the outside may not otherwise be exposed to or privy to. The title of the book sums it up best, and the book outlines how the banks and the primary players and stakeholders have become too big to fail. The book highlights the self-interest of those in charge of some of the biggest financial institutions in the world and their blatant disregard for Main Street.
The book has a place in the larger academic debates raised within public knowledge because it adds to the public's real knowledge of those involved in the nation's financial industry and government offices. Instead of speculating…
Cassidy, J. (2008). Anatomy of a meltdown, New Yorker, 84(39), 1-756.
Cherry, C. (1998). God's new Israel: Religious interpretations of American destiny.
UNC Press Books.
Cohan, W. (2010, Nov. 27). The power of failure. New York Times. Retrieves from www.thenewyorktimes.com.
China as a Developing Country
China's Economic Growth
China as a developing country
The world economy has grown to be very competitive of late; there have emerged new economic trends, new economic alliances as well as new economic powers in the world over. Among the newly emerging economic powers is China which has been observed to be one of the fastest and stable rising economies in the world that no other economies can ignore them. The big question is how the Chinese have been able to set this trend and how they are maintaining it throughout.
Before 1978, China had been experiencing an annual growth of 6% annually; at times it had severe setbacks in the economy and this was due to the control that the government had on almost all assets of China and the significant infrastructure and means of production and trade. However, this came to change in…
Aimin Chen, (2004). Assessing China's economic performance since 1978: Material attainments and beyond. The Journal of Socio-Economics 34. Retrieved May, 30 2011 from http://www.aiecon.org/advanced/suggestedreadings/PDF/sug110.pdf
Bloomberg Bissweek, (2011). Foreign Investment in China Climbs 15% on Consumer Demand.
Retrieved May, 30 2011 from http://www.businessweek.com/news/2011-05-16/foreign-investment-in-china-climbs-15-on-consumer-demand.html
Centennial Group Holdings, (2002). The Development of Private Enterprise
S. responded to the Great Depression by electing FDR, who brought out his Alphabet Programs which were supposed to put the nation back to work with public works projects. When that failed to restore the economy, the world elected to start with a new war: WWII. Germany had been buried by the Western powers following WWI -- and now the country threatened to assert itself once more. Russia was in the middle of its own revolution: Stalin was liquidating the kulaks and rounding others up and shipping them off to the Gulag. That did not help Russia's economy any more than FDR's Alphabet program -- but it did not matter: war was on the horizon. Japan was being strangled by Western powers: the American military-industrial-congressional complex essentially forced Japan to attack -- and then sat back and let it happen when Japan finally decided to bomb Pearl Harbor. Thus, America…
The Advantages, Disadvantages, and Overall Utility of Income and Balance Sheets: A Case Study
From the various high profile accounting scandals of the past decade, from the Enron, World Com, and other scandals in close proximity in the early 2000s, to the creative accounting and asset bundling that helped to precipitate the global economic meltdown (and that made certain individuals at financial institutions like Goldman Sachs incredibly wealthy), the world of accounting has been thrust into the public limelight fairly frequently in the recent past. Greater scrutiny of accounting records and stricter regulations regarding the recording and reporting of accounting information is now being demanded by many governments the world over, with companies of course compelled to comply. This of course begs the question, how useful are these accounting records when making business decisions?
This paper will examine the degree to which some basic accounting figures proved advantageous…
Food Drink. (2004). Morrison sweetens Safeway offer. Accessed 12 March 2011. http://www.foodanddrinkeurope.com/Retail/Morrisons-sweetens-Safeway-offer
Funding Universe. (2003). Safeway PLC. Accessed 12 March 2011. http://www.fundinguniverse.com/company-histories/Safeway-PLC-Company-History.html
Hoovers. (2011). Wm Morrison Supermarkets PLC. Accessed 12 March 2011.