Use our essay title generator to get ideas and recommendations instantly
Wells Fargo Fake Account Crisis
A crisis is defined as the perception of an unprecedented event/incident that threatens shareholders’ valuable expectations in relation to economic, health, environmental, and safety issues (Coombs, 2014). Since organizations operate in a challenging and highly competitive environment, they are likely to undergo crises. An example of an organization that has experienced a crisis in the recent past is Wells Fargo. The company recently experienced a scandal relating to fake accounts, which has plagued its operations for approximately a year. Given that the crisis is still ongoing, Wells Fargo needs to develop a suitable crisis management plan that will help resolve the issue. This paper focuses on examining the crisis using the three-stage approach articulated by W. Timothy Coombs.
Wells Fargo fake account crisis is an ongoing scandal regarding the creation of millions of fake savings and checking accounts on behalf of its clients,…
Conti-Brown, P. (2017, August 31). Why Wells Fargo Might Not Survive Its Fake Accounts Scandal. Fortune. Retrieved October 9, 2017, from http://fortune.com/2017/08/31/wells-fargo-fake-accounts-scandal-2017-tim-sloan/
Coombs, W.T. (2014). Ongoing crisis communication: Planning, managing and responding (4th ed.). Thousand Oaks, CA: Sage Publications Inc.
Corkery, M. (2016, September 9). Wells Fargo Offers Regrets, but Doesn’t Admit Misconduct. The New York Times. Retrieved October 9, 2017, from https://www.nytimes.com/2016/09/10/business/dealbook/wells-fargo-apologizes-but-doesnt-admit-misconduct.html
Dugan, K. (2017, August 31). Wells Fargo is Still Holding Back on its Fake-accounts Data. New York Post. Retrieved October 9, 2017, from http://nypost.com/2017/08/31/wells-fargos-fake-accounts-scandal-just-got-worse/
Morrell, A. (2017, January 6). ‘Without Fraud, the Math Didn’t Work’: Wells Fargo’s Cutthroat Culture Was Reportedly Simmering for Decades. Business Insider. Retrieved October 9, 2017, from http://www.pulselive.co.ke/bi/finance/finance-without-fraud-the-math-didnt-work-wells-fargos-cutthroat-culture-was-reportedly-simmering-for-decades-id6765571.html
Wells Fargo Scandal
The Wells Fargo Collateral Protection Insurance (CPI) Scandal occurred as a result of the banking firm placing CPI on accounts even though the account holders did not ask for it or want it. It resulted in customers paying unnecessary and higher fees over a period of time. Wells Fargo was sued and agreed to settle the case out of court for approximately $400 million without admitting fault (Top Class Actions, 2019). The scandal, however, caused Wells Fargo to lose a great deal of reputation: customers began leaving the bank in droves and the firm suddenly found itself wondering how it had fallen and what it could do to shore up trust among customers once more. For years, the bank seemed happy to dupe customers with excessive fees, believing no customer would be sophisticated enough to realize just how he was being overcharged—but customers did catch on and…
Safeway and Wells Fargo
Safeway Company remains a private company, which is listed on the New York stock Exchange being an American food and drug retailer. The firm is among the biggest supermarket chain retailers found in North America. The company has a solid supply chain of network partners, which facilitates manufacturing as well as distribution facilities. Presently the company seems to be operating under almost 13 unique brands found in the market. The company is listed as number 52 in the list with 1000 fortune companies. On the other hand, Wells Fargo is a company traded public and established by Henry Wells, William G. Fargo together with other associates. The founding of the company in that era was because of increased cases of stagecoach robberies. They concentrated on safely transportation of money from Nebraska all the way to California (Lorrayne, 2006). Currently, the company makes usage of…
Estrella, Joe. "Wells Fargo dedicates new Nampa branch to Hispanics: Most loan products will be available with a review of credit history. " Knight Ridder
Tribune Business News 7 September 2006 1. ABI/INFORM Dateline. ProQuest. Retrieved November 30, 2013 from http://www.proquest.com/ >
Liedtke, Michael. "Wells Fargo to counsel mortgage borrowers with poor credit: [Final Edition]. " Beaumont Enterprise [Beaumont, Tex.] 5 Dec. 2006,B5. ProQuest Newsstand. ProQuest. Retrieved November 30, 2013 from http:/ / www.proquest.com/>
Lorrayne, Anthony. "Young fogies' searching for higher quality:," Times Colonist (Victoria,
Write a -4-page academic paper in which you describe a business situation, apply a critical thinking framework to the situation, and recommend evidence-based solutions to the situation. Explain how the concepts of VUCA (volatility, uncertainty, complexity, and ambiguity) could affect both the situation and the solutionIntroductionThe banking business is currently undergoing fundamental change. Since the financial crisis, a litany of new rules, regulations, and procedures have been imposed on the banking sector. These rules were primarily designed to mitigate risks associated with a financial collapse that could potentially plunge the economy back into another prolonged recession. These rules, ultimately placed heavy restrictions on banks as it relates to assets, loans, deposits, and risk taking. To alleviate these concerns banks looked to focus heavily on cross selling and other forms of additional revenue. The pioneer, as it relates to cross selling was Wells Fargo. During the period immediately after the financial…
1. Corkery, Michael. “Wells Fargo Fined $185 Million for Fraudulently Opening Accounts.” The New York Times, The New York Times, 8 Sept. 2016, www.nytimes.com/2016/09/09/business/dealbook/wells-fargo-fined-for-years-of-harmto-customers.html.
2. Premachandra, B. and Filabi, A., 2018. WELLS FARGO, MISCONDUCT, LEADERSHIP AND CULTURE. [ebook] Available at:
3. Reckard, E., 2013. Wells Fargo\\\\\\'s pressure-cooker sales culture comes at a cost. [online] Los Angeles Times. Available at: .
4. Tayan, B., 2019. The wells fargo cross-selling scandal. [ebook] Available at: https://www.gsb.stanford.edu/sites/gsb/files/publication-pdf/cgri-closer-look-62-wells-fargo-cross-selling-scandal.pdf
Business Ethics and Positive Social Change at Wells FargoIn early 2016, Wells Fargo was formally implicated in a corporate scandal which reflected the failure of its officers and directors to fulfill their duties and responsibilities. The purpose of this paper is to provide an analysis of a case study concerning this ethical scandal involving Wells Fargo to evaluate its business ethics within the context of positive social change. To this end, the paper presents the essential details of the event, its proximate causes and its negative impact on society. In addition, an examination of the causes of the crisis and a discussion concerning what steps might have prevented this scandal are followed by a description concerning what this writer would have done differently to effect positive social change instead of bilking innocent clients. Finally, the paper provides a summary of the research and important findings concerning these issues in the…
About Wells Fargo. (2021). Wells Fargo. Retrieved from https://www.wellsfargo.com /about/ corporate/history/.
Chapter 13: Corporate governance and ethics.
Haugh, T. (2018). The Power Few of Corporate Compliance. Georgia Law Review, 53(1), 129–195.
Porter’s Five Forces model of analyzing any industry marketplace first assesses the overall level of competition of the industry actors, the threat of substitutes, the bargaining power of consumers, the bargaining power of suppliers, and the threat of new entrants into the marketplace (Maverick, 2020). Clearly, the banking industry at present is intensely competitive. Even the most casual observer of a typical city, suburban, or even rural area will see many banks making offers to potential customers, spanning from free checking accounts, to low interest rates on refinancing mortgages, or higher rates on CDs (Maverick, 2020). There are many small and regional banks. Wells Fargo is one of four major banks in the United States—JPMorgan, Citibank, Bank of America are the others—with a national presence (Maverick, 2020).
For these four banks, competition is intensive, and there is also the threat of some substitute products, including credit unions and other investment…
Maverick, J.B. (2020). Analyzing Porter’s Five Forces on JPMorgan. Investopedia. Retrieved from: https://www.investopedia.com/articles/markets/020916/analyzing-porters-five-forces-jpmorgan-chase-jpm.asp
Identify, characterize the roles of incentives, training, and education in promoting innovation
Wells Fargo & Company is an American multinational company involved in the provision of financial and banking services to its clients across the U.S. The company provides incentives, training, and education to ensure the realization of its desired organizational objectives and innovation. Providing these incentives promotes organizational performance in various ways. Incentives are useful in stimulating the interest of the employees towards learning and innovation. Incentives act as an indirect method of recognizing the contribution of the employees towards the performance of the organization. As such, incentives make the employees have shared objectives. Providing training to the organizational employees ensures their learning. It imparts them with the required knowledge and skills required for executing organizational activities. Similarly, providing them with training ensures that the organization meets personal and professional needs of the organization (Kemerer, 1997).
Chandler, R.J. (2006). Wells Fargo. Charleston, S.C: Arcadia Pub.
Kemerer, C.L. (1997). Information technology and industrial competitiveness: How IT shapes competition. Boston: Kluwer Academic Publishers.
Scotchmer, S. (2006). Innovation and incentives. Cambridge, Mass: MIT Press.
SWOT Analysis: Its Uses for Wells Fargo
As noted by Giesen (et al., 2010), one of the most difficult things for any business to know is when and how to alter its core business model. Technology businesses such as IBM have been forced to do this, as the physical product lines on which they based their successes have become obsolete. The consequences of failing to innovate are dire, as seen when the physical video rental company Blockbuster failed to enter the digital age. One popular tool to use in reconfiguring a business model or simply improving a business is that of SWOT, or the strengths, weaknesses, opportunities and threats model.
SWOT is a method of analyzing both internal and external threats. Strengths and weaknesses are particular to the organization, while opportunities and threats refer to the external environment. SWOT can be useful to help a business understand what it does…
Giesen, E., Riddleberger, E., Christener, R., & Bell, R. (2010). When and how to innovate your business model. Strategy & Leadership, 38(4), 17-26.
Streeter, B. (2019). What banking’s future looks like to Wells Fargo’s innovation chief. The Financial Brand. Retrieved from: https://thefinancialbrand.com/89994/banking-future-wells-fargo-innovation-digital-ai-platform-blockchain/
Fargo & Co. In detail. It puts light on the financial performance of the organization. The core products and competitive advantage of the organization have also been analyzed by the preceding paper. In addition to that this paper also highlights the SWOT analysis and the Porter's five forces model of Wells Fargo & Co.
Wells Fargo & Co.
Wells Fargo & Co. is a stable and renowned name in the banking industry. This organization has a commendable history of growth and success. Its mission and vision has enabled it to navigate successfully through the complicated and critical times of recession and economic downturn. It has been in the business since last many years and has gained a stable and prominent share in the financial and banking industry of the United States of America. (Amundson, 2011)
Wells Fargo & Co. started operating officially in the year 1852. They opened…
Amundson, C. (2011). Wells Fargo. Rochester: Minnesota School of Business. pp. 4-27. http://cassieamundson.efoliomn.com/Uploads/Wells%20Fargo%20Strategic%20Plan.docx .
United States Securities and Exchange Commission (2013). WELLS FARGO & COMPANY. [report] Washington, D.C.: United States Securities and Exchange Commission, pp. 59-64. http://www.sec.gov/Archives/edgar/data/72971/000119312513206363/d529054d10q.htm#tx529054_2
Unknown. (2007). SMIF Investment Research Wells Fargo & Company (WFC). New York: St. John's University. pp. 9-28. http://www.stjohns.edu/media/3/8143403cafaf4580b4993f601761d895.pdf .
The liabilities are subject to reserve requirements, however. This means that the bank cannot have more financial assets than it has liabilities. So debt utilization is an entirely different animal in the banking industry than it is in conventional industries.
Therefore, typical debt utilization ratios are of little relevance. Interest coverage is tied to liquidity, and is therefore not measured for banks. The debt-to-equity ratio is measured, however. For ells Fargo, this is 3.01. For Bank of America it is 3.97. The industry average is 3.28. The significance of this metric in the banking business is that the higher the ratio, the riskier the business. Another measure is the leverage ratio. This is at ells Fargo 12.0, versus 9.7 at Bank of America and 14.7 overall. Thus, both of these companies are less highly leveraged than the industry as a whole. ells Fargo has a lower debt-to-equity ratio indicating lower…
Company overview and some financials from MSN Moneycentral. Retrieved May 15, 2009 from http://moneycentral.msn.com/companyreport?Symbol=WFC
2008 Wells Fargo Annual Report. Retrieved May 15, 2009 from
Fargo Diversity ithin and Outside the Firm
ells Fargo's latest press release announces the appointment of Jimmie alton Paschall to the post of Executive Vice President for Enterprise Diversity & Inclusion ("ells Fargo names" 2011). This job oversees all aspects of the firm's and the firm's subsidiaries' employment and product diversity under ells' "Social Responsibility Group" as well as other Management Committee duties ("ells Fargo names" 2011). Chairman and CEO John Stumpf claims diversity is a "core value" for ells Fargo, which Ms. Paschall will promote and expand with her award-winning experience ("ells Fargo names" 2011). The March 2011 ruling that ells Fargo discriminated against minority homebuyers in Los Angeles, and pending suits in other jurisdictions, indicate Ms. Paschall will need all the experience she can draw on defending the bank against perceptions to the contrary.
hy is this important? Firms generally exist for the purpose of creating equity value…
Golobay, Diana. "Illinois AG Sues Wells on Alleged Reverse Redlining." Housingwire.com,
31 July 2009. 10 Dec. 2011.
Haughwout, Andrew, Mayer, Christopher and Tracy, Joseph. Subprime Mortgage Pricing: The
Impact of Race, Ethnicity, and Gender on the Cost of Borrowing. Federal Reserve Bank of New York Staff Report no. 368. 2009. 10 Dec. 2011.
There is no mention of any higher level ethical ideals and is composed primarily of transactional or procedural items.
One item of interest found in the employees ethical code published by Wells Fargo, is that they have established what they call EthicsLine. This allows employees to contact an investigator (employed by Wells Fargo) to report any violations of the ethics code. The line is anonymous under most circumstances; only reports that involve criminal activity are require that the caller states any personal information. This allows employees an avenue to report any unethical behavior safely. This is extraordinarily efficient way to promote ethical behavior. However, Wells Fargo did not implement this item by choice; it is now required by corporations by comply with the Sarbanes-Oxley Act of 2006. Therefore, it is unclear if Wells Fargo would have this option if it was not required of them.
Wells Fargo has…
Care of Vulnerable Populations
COMMUNITY ASSESSMENT, ANALYSIS, and NURSING INTERVENTION
• Week 1: Windshield Survey and Key Informant Interviews. Complete the First Section of the course template and submit. (Keep this section attached to Weeks 2 and 3 assignments.)
• Week 2: Statistical Analysis of Community Health Problem. Complete the Second Section of the course template and submit. (Keep this section attached to Weeks 1 and 3 assignments.)
• Week 3: Community Health Nursing Intervention. Complete the Third Section of the course template and submit. By now, you should have Sections 1-3 as one whole document.
• Each section of the course template is submitted on a WEEKLY basis, depending on which week you are working on. DO NOT wait to submit all three sections at the end of the third week.
• Please note that students are not to make any changes to the content of the course template,…
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
He was a college dropout that slept on his friend's dorm room floor, returning coke bottles for five cents a bottle and walking seven miles across town every Sunday night to get a meal at a Hindu temple. As one of the pioneers of Apple Computers, a multi-billion dollar corporation, Steve Jobs has used his drive, ambition and passion to fuel his professional accomplishments.
When I first started at Wells Fargo as a teller, I made about the same as a high school babysitter. Undeterred, I put my best foot forward, cultivating customer relation skills and basic accounting principles to move forward- like Steve Jobs, I aspired to be something more. Over my 16 months at Well Fargo, my aspirations bore fruit in the form of four promotions, when making twelve dollars was no longer the standard and a base salary took its place. Simultaneously, I earned my…
While in school, I was brought back on with the boutique investment firm as a consultant to help facilitate a number of their current projects.
While I have always valued the idea of having a college education, it has not always been easy for me to pursue due to a learning disability. My struggles with this disability in college have been quite challenging and it has taken me years of frustration and hard work -- as well as a lot of self-understanding -- to learn how to not only cope with these struggles, but to be able to rise above them. The struggles with this disability have tested my character and have made me a stronger person, which I am very proud to say.
Despite the fact that I have struggled with this learning disability, it has not held me back in the workforce. I am very proud of my…
Insomuch, I have worked closely with customers on a myriad of issues to ensure their needs were met. Such concern for my constituents has transcended to an elevated level of service for individuals in the healthcare field.
Additional Information for Consideration
Although I may not be a traditional candidate, I have always worked hard to attain my goals. egardless if goals seemed to be unreachable, I have always persevered in the most trying of conditions. Pierce (2003) defines nursing quite well, "Nursing is the protection, promotion, and optimization of health and abilities, the prevention of illness and injury, and the alleviation of suffering through the diagnosis and treatment of human response and advocacy in the care of individuals families, communities, and populations. Moreover, nursing addresses the organizational, social, economic, legal, and political factors within the healthcare system and society. These and other factors affect the cost, access, and quality of…
Cafazzo, D. (n.d). Nurses will be charting own futures. The News Tribune, D.1.
Hensick, J. (1996). Guest editorial. Our contract with America: Nursing's social policy statement. Michigan Nurse, 69(5), 3.
Kagan, S.H. (2004). The advanced practice nurse in an aging society. Nurse Practitioner,
Joe's Sports, a 50-year-old sporting-goods retailer with stores in Washington, Oregon and Idaho, who filed for bankruptcy protection recently. The company began when "Edward Orkney, a World War II veteran, began selling Army surplus sleeping bags from the back of a station wagon in Portland" (Martinez, 2009). It grew to a chain of 30 stores with over 1,600 employees, and was considered successful until the economic downturn that began in 2008.
The company claims up to $500 million in debt, and there are several of its creditors who are uninsured and facing steep losses, such as Columbia Sportswear, another Washington company, who is owed about $888,300. They owe about $12.8 in total to all their creditors. The company did secure some funding from Wells Fargo etail Finance so it can continue to operate and pay its employees as it attempts to reorganize and again become profitable. The President and CEO…
Martinez, A. (2009). Joe's Sports files for bankruptcy protection. Retrieved 13 May 2009 from the Seattle Times Web site: http://seattletimes.nwsource.com/html/businesstechnology/2008814402_joes050.html .
J. Heinz Company
Strengths: it is short and concise; it is constructed in a formal means which also uses specialized language to promote the company's commitment to customers and employees.
Shortcomings: it lacks an introduction and it does not mention the well-being of other categories of stakeholders aside customers and employees
Strengths: offers detailed input on the company's visionary goals; includes several categories of stakeholders
Shortcomings: it is rather long and too detailer, creating as such the possibility for the reader to lose interest and not remember what he read; seems explicative and responsive to the criticism of environmental threats to which the company has been subjected.
ank of vision statements from best to worst: I (4); II (1); III (2); IV (5); V (3)
ed Hat 2009 Annual eport, http://files.shareholder.com/downloads/HAT/763006950x0x304106/3145E646-AE56-4FE1-9C59-B79F4491C4C5/FY09_Annual_eport_on_Form_10-K.pdf last accessed on November 2, 2009
Red Hat 2009 Annual Report, http://files.shareholder.com/downloads/RHAT/763006950x0x304106/3145E646-AE56-4FE1-9C59-B79F4491C4C5/FY09_Annual_Report_on_Form_10-K.pdf last accessed on November 2, 2009
2009, Red Hat Website, http://www.redhat.com last accessed on November 2, 2009
communications skills to solve problems they are likely to encounter in the workplace.
Communication is the process of sharing information, expression, feeling, and thought between two or more people. Effective communication plays an important role in the organizational development, and communication forms an important constituent of every aspect of an organization. To maintain good working relations, it critical for the entire workforce to communicate with one another to enhance coordination, as well maintaining good working relations.
Evidence of communication skills is the ability of an individual or business organization to persuade and negotiate within business environment. Persuading and negotiating is one of the important aspects within business environment. Arriving at a concrete agreement within a business environment involves using effective communication skills. Persuasion involves ability to convince others to reach appropriate course actions, while negotiating involves ability to reach a mutually satisfactory agreement.
Evidence of communication skills is…
Australian Computer Society (2011).Case Studies and their clauses in the Code. Australia.
Wheeler, S. (2003). Comparing Three IS Codes of Ethics -- ACM, ACS and BCS . 7th Pacific Asia Conference on Information Systems, 10-13 July 2003, Adelaide, South Australia. 1576- 1587.
exchange of currency have proliferated the Internet marketing world. Customers have faster and easier access to methods of exchange, deposits and payments, than ever before and the changes have come rapidly as more and more Internet commerce demands more and more ease of exchange. A global economy requires global economic infrastructure solutions to exchange of funds and to a large degree the Internet market has answered the call for change and availability of services. Yet, the substantial growth of Internet sales has also, arguably caused the growth of subsystems and infrastructural shifts that might not have been implemented with full knowledge of the implications of such actions. With security at risk and issues of currency exchange rates, not to mention global monetary regulations consumers must be aware of the type of services they are using and the way it might affect the efficacy of their transaction.
Internet Marketing not only…
Plander, B. "Credit Card Processing" http://www.west-wind.com/webconnection/MerchantProviders.asp
Phase 5 "RBC Case Study" http://www.phase-5.com/p5-case_studies/bank_tracking.php
Hoovers Online "Fact Sheet PayPal" http://www.hoovers.com/paypal/--ID__61321 -- /free-co-fin-factsheet.xhtml
The market structure of the retail industry is that of monopolistic competition. As its name suggests, monopolistic competition is an environment composed of a large number of firms each with a portion of the market. The firms in this type of market structure have similar products but they are differentiated in some way. Nordstrom's for example has private brands that only Nordstrom's can carry. These brands include Hotel Collection sheets, Martha Stewart cookware, Psycho Bunny for men, INC brand clothes for women, and much more. Even though these product offerings may be similar to competitors in regards to color or value proposition, they are differentiated by the fact they are only offered at Nordstrom's locations. Furthermore, there are many firms competing within the retail environment. For example, Nordstrom's must compete with JC Penny, Target, Wal-Mart, Dillard's, Sears, internet stores, and many other outlets. All of these competitors…
9) Thau, Barbara. "Macy's Doubles Down on Its 'Omnichannel' E-Commerce Future." DailyFinance.com. 23 June 2011. Web. 24 Feb. 2012. .
10) Wahba, Phil. "Sears Closing More Stores as Holiday Sales Slide." Reuters. Thomson Reuters, 27 Dec. 2011. Web. 24 Feb. 2012. .
11) Kaplan, Stephen. "Capital Ideas - The Evolution of U.S. Corporate Governance." The University of Chicago Booth School of Business - Business School, Full-time, Part-time, Executive MBA Programs. Web. 13 Jan. 2012. .
.....efficacy and standing as the basis of leadership styles. Those three prompts, in the order in which they will be discussed, are communication, task management and the driving of results and integrity and trustworthiness. While these items are collectively quite good in terms of being the basis of leadership styles, they should indeed be part of a wider collection of ideas and should not be left to stand on their own.
On its face, communication is a good thing to focus on and have as part of a leadership brand and system. At the same time, however, too much of any good thing can indeed be a bad thing. Indeed, meetings and reports should not be overly verbose and common. Emails should be done in a focused way and should not end up with people being inundated and blitzed with a ton of words. Going too far with communication…
business management, there are a number of different issues that will be faced on a regular basis. To fully understand the overall scope of the challenges and the most effective way to resolve them requires looking at a variety of sources in annotated bibliography. Once this occurs, it will provide us with specific insights about the how these issues can be effectively rectified.
Goldstein, A. (2009). Sticks, Stones and $600 Hammers. Journal of Content Management, 33 -- 40.
The article that was written by Goldstein (2009), talks about the negative perceptions that government procurement programs and contracts have received over the last several years. Part of the reason for this, is because there have been considerable cost overruns for the most mundane items. At the same time, the increasing amounts of spending have meant that these actions are continually brought into focus. To deal with these issues, there have been…
Camp David Seen from Israel. (1979). Journal of Palestine Studies, 8 (2), 144 -- 155.
Handbook on Fraud Indicators. (1993). Washington DC: Department of Defense.
Hyman George Rickover Biography. (2011). Bookrags. Retrieved from: http://www.bookrags.com/biography/hyman-george-rickover
Druckman, D. (2007). Emotions in Negotiation. Group Decision and Negotiation, 17 (1), 1 -- 11.
It is expected that the bond will mirror the performance of the S & P. 500. ("Transaction History," 2010)
November 24, 2010
On November 24th several more new purchases would take place to include: General Motors, erkshire Hathaway, the Fidelity Immediate Government Fund and the Strategic Advisors Income Fund.
General Motors was selected, because it could help to provide the portfolio with above average growth. The results were that that stock would see an increase of 1.4%. ("Transaction History," 2010)
erkshire Hathaway was purchased to provide the portfolio with stability and diversification. This investment is expected to outperform the major market averages. The results were up .96%.( "Transaction History," 2010)
The Fidelity Intermediate Government Fund was selected because of their focus on medium term Treasury investments. This is expected to underperform the market averages. The results were that the position declined by 2.55%. ("Transaction History," 2010)
Account Details. (2010). Stock Trak. Retrieved from: http://www.stocktrak.com/private/account/summary.aspx
Ford Posts 68% Rise in Third Quarter Income. (2010). MSNBC. Retrieved from: http://www.msnbc.msn.com/id/39845528/ns/business-autos/
Transaction History. (2010). Stock Trak. Retrieved from: http://www.stocktrak.com/private/account/transactionhistory.aspx
Kavilanliz, P. (2010). Black Friday. CNN Money. Retrieved from: http://money.cnn.com/2010/11/27/news/economy/Black_friday_2010_sales/
COBIN - PACIFIC
Corbin Pacific, Inc. is a California-based company, whose mission is to produce best motorcycle accessories in the world through innovative designing and high quality manufacturing with a customer oriented approach.
Mike Corbin, Founder and President of the company started this company back in 1968 by producing motorcycle seats in his garage. Over the past three decades, the company has come a long way. It now has more than 90% market share in the motorcycle accessories. Its product line includes motorcycle seats (also called saddles), bags, fenders and other small accessories of a motorcycle. The company has a patent on using 'integrated molding technology' to manufacture motorcycle seats.
In 1998, its annual revenue was over $15 million and employed 154 associates. The company has its offices and manufacturing plant in Hollister, California with a major showroom in Daytona Beach, Florida..
Since its inception, Corbin-Pacific has identified…
Berry, Tim. (2004, July 20). A Standard Business Plan Outline. Retrieved on October 6, 2005, from http://www.bplans.com/dp/article.cfm/26
Corbin Motorcycles Seats and Accessories. http://www.corbin.com/
Harvard Business School. (1999, July 16). Corbin-Pacific (9-800-022).
Comparing Amazon and eBay is really like comparing apples and oranges. The two, while appearing to be the same on the surface, are really nothing alike once the superficial labels are peeled off. eBay began as a C2C ecommerce site -- consumers selling to consumers. That gradually morphed into B2C as businesses (from big time car lots to small business owners) saw the advantage of posting items on eBay in order to boost sales. Amazon may appear to the untrained eye to follow in eBay's footsteps by offering a web-based platform where all sorts of sales strategies can be employed: C2C, B2C, B2B -- and yet Amazon's ability to dominate the online marketplace has not resulted in significant income -- at least not from this particular eBay-like niche. (Minus the platform, the two are not even similar in terms of how products are sold: eBay offers bidding and direct correspondence…
Technology and Society
All print media including books, newspapers and magazines are in deep trouble today thanks to new developments in technology, as are traditional methods of classroom instruction and school curricula. To that extent the Internet can be described as a revolutionary invention that has altered and transformed the way information is presented and conceived. Individuals are learning and creating innovative ways to contribute to relevant knowledge at an excessive speed, and the estern world has become dependent on this technology and also more aware of its negative side. hether the technology in our surroundings is causing human beings to become distracted, affecting our communication skills, or making them stupider is a question that has to be addressed.
This memorandum will describe these issues of trivialization and the 'shallow-ing out' of contemporary American culture, most of which are either as deliberately exaggerated and sensationalized as the Internet itself or…
Corey, G. et al. Issues and Ethics in the Helping Professions, 8th Edition. Cengage Learning, 2011.
Milliken, J. Brands and Social Media Participation; United Breaks Guitars. Coreographytv, 2010.
Morozov, Evgeny. "Losing Our Minds to the Web." Prospect, June 22, 2010.
Successful and Unsuccessful Leaders
Coach K. and John Stumpf are leaders that have used differing styles of leadership. On one hand, Coach K. uses a transformational leadership style whilst Stumpf uses an authoritative style of leadership. Stumpf employed a controlling and intimidating technique whilst Coach K. uses a more interactive and relational approach. Coach K. has been a successful mentor and coach over the years by having good and healthy relation with his subordinates. Employees in Wells Fargo had a poor relation to John Stumpf as he failed to consider the perspectives of the employees. John Stumpf utilized his power and influence within Wells Fargo to change the behavior of personnel to conform to his controlling and authoritative culture. Coach K. uses his influence to not only be a leadership teacher and also coach, but also in people development. Taking these aspects into consideration, Mr. Stumpf is considered to be…
Bass, B. M., & Bass, R. (2009). The Bass handbook of leadership: Theory, research, and managerial applications. Simon and Schuster.
Davis, S. (2015). How did Mike Krzyzewski reach 1,000 wins? With a million small steps. Sports Illustrated. Retrieved from: http://www.si.com/college-basketball/2015/01/25/mike-krzyzewski-duke-blue-devils-1000-wins
Duran, D. (2015). Lessons from Duke's Coach K: 3 keys to leading an exceptional team. Investment News. Retrieved from: http://www.investmentnews.com/article/20150513/BLOG16/150519966/lessons-from-dukes-coach-k-3-keys-to-leading-an-exceptional-team
Egan, M. (2016). 5,300 Wells Fargo employees fired over 2 million phony accounts. CNN Money. Retrieved from: http://money.cnn.com/2016/09/08/investing/wells-fargo-created-phony-accounts-bank-fees/
Lock Box Services
How does a lockbox work for a bank customer? There are several advantages that are available with a lockbox system, including being able to access funds more readily, and for a business it means getting checks into accounts seamlessly and quickly, and earning interest on payments made by check that would otherwise be waiting for the checks to clear.
ells Fargo lockbox service
The ells Fargo bank launched a pilot lockbox program in the early 2000's that allowed certain banks to process checks electronically. It was an innovative electronic process that was designed to be a simple way to offer "flexible remittance processing" that offers the following services: a) it reduces outstanding sales for any given day; b) by automating manual processes the threat of theft, error and fraud is reduced; c) from a person's laptop or desktop computer, account information is readily available; and d) a…
Bills, Steve. (2003). National Rollout for Wells Check Service. American Banker, 168(77), p. 1.
Bills, Steve. (2003). Wells Touts ACH Conversion as Tool Against Fraud. American Banker,
Consumers Union. (2004). Questions and Answers About the Check Clearing for the 21st
Management's Role In ringing About est Practice Approaches To People Development
Humans are our greatest asset, but a constant challenge is to recognize that fact within an organization and to bring about best practices methods of achieving the greatest contribution from the human assets.
This paper will examine the methods by which the most can be taken from human assets and the ways in which people development can peak.
Management style and thought is, contrary to popular belief, one of man's oldest areas of study. One of the earliest recorded examples is Confucius himself who in 500 .C. attempted to persuade the feudal kingdoms of ancient China that a successful and powerful leader had to be humane, benevolent and just. Needless to say, it took his ideas a significant amount of time to catch on.
ut Confucius was in this respect, as in most respects, phenomenally ahead of his time.…
Collins, Jim. "Good to Great." 2001. New York: HarperCollins.
Collins, Jim. "Built to Spill." 1998. New York: HarperCollins.
DeNisi and Griffin. "Human Resource Management." Texas: Texas A&M University.
Fischer. "Human Resource Management." North Carolina: Appalachian State University.
Leadership Using the Hedgehog Concept
Collins was not incorrect in the way he described the leadership at Wells Fargo. When Collins and his research team were carrying out the research, the relied on interviews and newspaper articles plus the performance of the company on the stock market. All this combined resulted in their assumption that the leadership and change in strategy by Wells Fargo was resulting in the increase in stock price. It is true that for a company to become a great company it needs to identify the three things pointed out by Collins (2001) namely what is the company good at, what drives the company, and what are employees passionate about? Wells Fargo managed to identify all these three things and discovered that in order for it to increase investor profits it needs to change its business strategy. Changing the business strategy did have the expected results, and…
Collins, J. (2001). Good to Great (illustrated ed.). Bishopbriggs, GLASGOW: HarperCollins.
Ortmeier, P., & Meese, E. (2010). Leadership, ethics, and policing: Challenges for the 21st century: Prentice Hall.
Schafer, L. (April 11, 2017). Schafer: Wells Fargo CEO didn't take 'run it like you own it' mantra to heart. Star Tribune. Retrieved from http://www.startribune.com/wells-fargo-ceo-didn-t-take-run-it-like-you-own-it-mantra-to-heart/419098944/
Staff Report. (April 21, 2017). Wells Fargo admits account scandal dates back to 2002. New York Post. Retrieved from http://nypost.com/2017/04/21/wells-fargo-admits-account-scandal-dates-back-to-2002/
Author Negr n notes, "Hundreds of FBI agents sealed off the town of Hormigueros, Puerto ico, where Ojeda lived with his wife. The FBI surrounded his house and opened fire, killing him. He was 72 years old" (Negr n, 2005). Ojeda had been a fugitive since he jumped bond after the Wells Fargo obbery, and he had still been active in independence organizations, including the Macheteros, and his death helped bring some of the former members closer together in a more cohesive unit, as their continued existence even today indicates.
In conclusion, this terrorist organization did not threaten the United States mainland as much as it threatened Puerto ico, but they targeted American servicemen and government officials, and Puerto icans that supported the U.S. Government, so they seemed to pose a threat to the country. The FBI weeded most of the group out in the 1980s, but the independence movement…
Atkins, S.E. (2002). Encyclopedia of modern American extremists and extremist groups. Westport, CT: Greenwood Press.
Editors. (2008). Puerto Rican Macheteros warn of FBI onslaught. Retrieved 13 Sept. 2008 from the New York City Independent Media Center Web site: http://nyc.indymedia.org/en/2008/05/97509.html.
Hewitt, C. (2002). Understanding terrorism in America: From the Klan to Al Qaeda. New York: Routledge.
Negr n, a.C. (2005). The Macheteros and the Puerto Rican independence struggle. Retrieved 13 Sept. 2008 from the Socialism and liberation Web site: http://socialismandliberation.org/mag/index.php?aid=503 .
predatory business practices seen in today's business environment. It will also analyze whether the borrower or debtor ought to bear any responsibility, in such instances.
Specific Examples of Predatory Practices by Businesses
In 1993, Wal-Mart was accused of predatory pricing practices, in items like mouthwashes, toothpastes and nonprescription medicines, and tried by an Arkansas court; three independent drugstores filed a lawsuit that the largest retailer in the nation sold items below their cost for stealing rival stores' market share. The retail pharmacies situated in Conway asserted that the retail giant's Conway superstore caused their businesses to suffer (Multimedia, 2015). They claim that the retailer violated the Unfair Practices Act of the Arkansas Code, which prohibits selling of goods below cost to injure and destroy competitors. The complainants asked for 1.1 million dollars in damages. Wal-Mart did, at court, admit to selling certain goods at below- cost prices, but argued that…
Danner, P. (2014, April 29). SFGate: San Francisco Bay Area - News, Bay Area news, Sports, Business, Entertainment, Classifieds - SFGate. Wells Fargo blasted for 'predatory lending' - SFGate. Retrieved September 2, 2015, from http://www.sfgate.com/business/article/Wells-Fargo-blasted-for-predatory-lending-5440048.php
(n.d.). HUD/U.S.. Predatory Lending: Wisconsin - HUD . Retrieved September 2, 2015, from http://portal.hud.gov/hudportal/HUD?src=/states/wisconsin/homeownership/predatorylending
Lipson, J. (2010). Controlling Creditor Opportunism . Legal Studies Research paper Series, . Retrieved, from http://www.academia.edu/14147191/Controlling_Creditor_Opportunism
Matthews, D. (2009). Ruined in a Conventional Way: Responses to Credit Ratings ' Role in Credit Crises. The Northwstern Journal of International, 29(1), 245-274. Retrieved, from http://scholarlycommons.law.northwestern.edu/cgi/viewcontent.cgi?article=1684&context=njilb
"Construction -- which was a substantial component of investment -- fell because the housing stock exceeded the demand after 1925. " (Temin 9) Termin goes on to say that
Consumption fell because wages, other income, and capital gains all fell, with the fall in wages having the largest effect. Business investment fell because profits fell and -- to a lesser extent -- because the yield on equities rose. Residential construction fell because the stock of housing four years previously was high. Inventories fell because sales fell. But wages, profits, and sales all fell because consumption and investment fell." (Temin 49)
All of these cascading events could and to some degree are occurring today and the cascading effect will likely result in economic fears and realities, "…under freely-competitive capitalism, periods of boom and overproduction were followed by downturns which 'corrected' prior imbalances via falling prices" (Burkett 60) All of the economic…
Badger, Anthony J. The New Deal: The Depression Years, 1933-1940 New York: Ivan R. Dee, 2002.
Brummer, Alex. "It's Still the Economy, Stupid: Reckless Lending in America Is Giving the World Markets the Jitters. But in Washington, the Big Worry for Presidential Hopefuls Is Who Benefits Most from an Election-Year Recession." New Statesman 5 Nov. 2007: 20.
Burkett, Paul. "Forgetting the Lessons of the Great Depression." Review of Social Economy 52.1 (1994): 60.
Byrne, J. Peter, and Michael Diamond. "Affordable Housing, Land Tenure, and Urban Policy: The Matrix Revealed." Fordham Urban Law Journal 34.2 (2007): 527.
Third is a series of passwords and personal information chosen by the customer. On top of this they guarantee customers that if they are victims of fraudulent activity on their Egg accounts, any losses are covered in full. "This has never happened," says Andrew. "There has never been any breach of internet security." ("- -- : Safety Net for" 2001:44)
Again internet and bank security are largely overexagertated yet they are occurring more frequently all banks and many other institutions are taking daily active precautions to reduce risk to customers and they are largely successful in doing so Electronic banking can take many forms. A recent trend that is a direct threat to banks is the development of e-money which takes the jurisdiction of stored financial value away from banks. The trend is growing as an alternative way in which to do online commerce transactions without utilizing bank systems including…
Figure 5 Online Banking and Ecommerce in Europe (Meyer 2006: http://www.dbresearch.com/PROD/DBR_INTERNET_EN-PROD/PROD0000000000196129.pdf )
Figure 6 Security Breech Experience is Rare in Europe (Meyer 2006:
These can include the stimulus package, though, because the Obama Administration is still offering stimulus dollars to banks and other companies that need help and cannot take care of their customers in the way that they used to and preferred to.
Figure 1: How Severe is the Subprime Mess?
Obviously, the subprime mess is a serious concern for everyone. The stimulus package was designed to help the banks and the people who borrowed from them with the fact that they could not pay for the debts that they had created for themselves. That was true for the people who had mortgages, and also true for the banks that loaned money to these people. The stimulus package was designed to help them both out so that they could take care of their debts and move forward again. However, the economic stimulus package has not fixed everything that was hoped. There are…
Anderson, Mark (2009-06-30). "Down in flames: Why Money Store was a bust." Sacramento Business Journal. American City Business Journals, Inc.
"Bank vows $20 billion for green projects." msnbc. 2008-02-06. http://www.msnbc.msn.com/id/17500301/ .
"Credit Cards' Latest Pitch: Green Benefits." Wall Street Journal. 2007-11-30. http://online.wsj.com/article/SB120225763311445823.html .
Freer, Jim (2007-03-09). "BofA donates $1M to Camillus House." South Florida Business
Marketing in Banking
The topic being researched for this doctoral work is marketing in the banking industry. Before delving into the research too much for this topic, the researcher will first enumerate the goals that are to be attained. These goals, as also suggested by the parameters of the assignment, include meeting proper validity and reliability standards, avoiding bias, not posing hypotheses or ideas that are self-fulfilling prophecies or that have desired answers on the part of the researcher. There is also the consideration of using critical reasoning and strong logic skills so as to avoid making conclusions that are not supported by the evidence and/or that are completely contradicted by that same evidence (Leedy & Ormrod, 2010).
eliability & Validity
eliability and validity are two hallmarks of any good research and they must both be satisfied for the research outcomes to have any staying power or good ongoing reputation…
Leedy, P.D., & Ormrod, J.E. (2010): Pages 1-8, 28-35
Morris, F. (2009, October 2). Enforcing the Law - Eight Years Later. New York Times.
Retrieved August 18, 2013, from economix.blogs.nytimes.com/2009/10/02/
Real Estate Ethics and Fraud
Good ethics is a key necessity in any given profession. Ethics takes into account a system of moral guidelines governing the suitable conduct and actions of an individual or a group. Notably, ethical standards are centered on an individual’s belief of what is right and what is wrong versus the legal benchmark, which is basically, what is written down in law. In essence, ethics can be explained as the moral principles and criteria that steer individuals on what they ought to do and ought not to do. Chiefly, the law orders what persons is and is not permitted to do. Sustaining good ethics is being in line with the principles of correct moral conduct in an incessant manner (Walker and Ivanhoe, 2007).
In spite of the requirement for all real estate professionals to be ethical, real estate fraud is a reality. Real estate fraud…
Potential Concerns about the Consumer Financial Protection Agency
Despite the multitude of benefits revealed by the CFPA, commercial banks and mortgage lenders continually present their growing dissatisfaction with the act. epresentatives of this side include reputable organizations such as JP Morgan Chase or Wells Fargo, as well as a series of independent mortgage brokers and mortgage lenders and local and regional banking institutions. Their most compelling reasons for the dismissal of the Consumer Financial Protection Agency are succinctly presented below:
1. The banks feel that there is no real necessity for new regulatory legislation as the economy is already showing sighs of recovery; these financial institutions feel that the resources would be better spent otherwise. Additionally, the CFPA does not introduce any real new elements, but politically enforces the lessons already learnt from the economic crisis
2. The state could abuse its power through the Consumer Financial Protection Agency in…
Allen, M., Javers, E., Barack Obama to Create Consumer Financial Protection Agency, Politico, 16 June 2009, http://www.politico.com/news/stories/0609/23790.html last accessed on September 30, 2009
Andrews, E.L., Banks Balk at Agency Meant to Aid Consumers, New York Times, June 30, 2009
Geithner, T.F., Written Testimony of Treasury Secretary Timothy F. Geithner, House Financial Services Committee, Financial Stability, http://www.financialstability.gov/latest/tg231.html last accessed on September 30, 2009
Hall, K.G., Banks Fight to Kill Protection Agency, McClatchy, September 24, 2009, http://www.mcclatchydc.com/227/story/75997.html last accessed on September 30, 2009
ace and Community
The community in which I have lived for the past several years of my life is Sioux Falls, South Dakota, a relatively agricultural community that combines some major metropolitan features with a distinctive suburban flair. Traditionally, this community has not been noted for its racial diversity, as the vast majority of its residents are Caucasian. According to the United States Census Bureau's information as of 2009, 87.9% of all Sioux Falls residents were Caucasian, while the next highest population group, the population of American Indian and Alaskan Native persons, merely constitutes 8.5% of the city's residents (State and County, 2009). The percentages of populations are comparatively non-existent following the aforementioned group, as 2.9% of the city's inhabitants are Hispanic or Latino in origin, 1.2% of people reported their ethnicity as being Black, .9% of residents are Asian and .1% of the city's inhabitants are native…
State and County Quick Facts. (n.d.). Retrieved May 15, 2011) from U.S. Census Bureau website, http://quickfacts.census.gov/qfd/states/46/4659020.html.
Diversity Data.org. (2010). Retrieved May 15, 2011 from Harvard, School of Public Health website, diversitydata.sph.harvard.edu/Data/Profiles/Show.aspx?loc=1296
Lift SD Families and Children Out of Poverty. (2009). Retrieved from http://www.sdvoicesforchildren.org/images/pdf/NewsletterFall09.pdf
Leonardson, G.R. & Loudenburg, R. (2005, June 24). Assessment of Disproportionate Minority Contact in South Dakota. Retrieved from http://doc.sd.gov/about/grants/documents/FullDMCReportFinal.pdf
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
Banks Find New Ways to Ease Pain of Bad Loans describes the various ways banks holding large amounts of bad, or soon to be bad loans are, in effect, hiding these bad assets. For instance Astoria Financial Corp. extended the number of payments a customer had to miss before the loan would be listed as "nonperforming." By extending the number of missed payments from two to three, Astoria wiped close to $40 million off it's books. Well Fargo did a similar thing by extending the number of days a customer had to miss payments from 120 to 180 before writing these loans off. Bank Atlantic Bancorp tried something a bit different, they created an entirely new subsidiary and transferred $100 million of troubled loans to this new subsidiary. They managed to simply erase the bad loans from their books while avoiding federal regulators by creating a new subsidiary that was…
shifting seas of global social consciousness and worldwide political hierarchy have only recently brought the word 'terrorism' to the quotidian mind of Americans, it has long enjoyed a cemented place in the construct of civilization. Daily associations between the word terrorism and the frightening images of gore and destruction rampant on the 24-hour news networks affirm the complicated understanding of terrorism in the modern world; bombings on an Israeli bus, explosions outside a Pakistani supermarket, and subway atrocities mingle with recent memories of the World Trade center and recollections of the bloody IRA, Black Liberation Army, and Basque independence movements. Personal reaction and affiliation to the events, movement, and goals of each group's paradigm resonates inside a loose definition of political violence, while governmental response is chiseled, monochromatic, and decisive. While the motives and end-results always differ, the path to terrorism is marked by similar goal posts. These similarities and…
O'Brien, Sean P. "Foreign Policy Crisis and the Resort to Terrorism: A Time-Series Analysis of Conflict Linkages." The Journal of Conflict Resolution. Vol. 40, No. 2. (Jun., 1996.) p. 329.
Ibid, p. 330.
all Street Bailout -- Part II
all Street Bailout
The government-orchestrated bailout of the banks has been hailed and yet also condemned due to its perceived efficacy or lack thereof. Jeffrey Fuhrer suggested a path that was a lot cheaper and perhaps a lot less encouraging and propagating of the bad habits of banks and government entities that led to the crisis. This alternative, of course, was the individual homeowner bailout. Indeed, bailing out homeowners directly would have cost a mere fraction of what it did indeed cost to bail out Citibank, ells Fargo and the other banks. However, neither solution alone has a clear advantage over the other when looking at all relevant circumstances. hile doing a homeowner bailout would have had its merits, doing just the bank or homeowner bailouts individually probably would not have been as effective as doing them both in concert.
This report will…
While some may view the bank bailouts as encouraging bad behavior, the money had to be and was paid back. Further, letting the banks fail would have imperiled a lot more bank deposits and assets that belonged to homeowners than would have been savable for a scant fifty billion. Indeed, the same bad consumer behavior that helped feed the mortgage monster would similarly feed runs on banks based on perceptions and hysteria. While the economic conditions of 2007 and 2008 were quite bad, they never approach Great Depression levels. On the same note, while unemployment reached roughly ten percent during the Great Recession, it was 2.5 times that during the Great Depression in the 1930's and the United States economy was quite dismal until the ramp-up during World War II (Perry, and Vernengo). However, when one inserts widespread panic into the equation, the Great Recession could have been a lot, lot worse. If the banking system had not been shored up at all in favor of bailing out only the consumers, it could have been quite cataclysmic because just bailing out the homeowners when the banks are failing due to their own or created problems would have negated much of what a homeowner bailout would have accomplished (Peicuti).
With that said, the housing bubble was not just the fault of the banks and the homeowners who procured the foolish loans had their part as well. A similarity regarding all of the bailouts is that everyone in the chain misbehaved and that includes the federal government, the homeowners and the banks. Indeed, part of the problem that created the housing bubble was improper oversight by the federal government. This oftentimes manifested with near-direct or entirely direct participation and complicity of the federal government. For example, Fannie Mae and Freddie Mac were not technically part of the government prior to the Great Recession but only in the sense that the United States Postal Service is not part of the federal government either. Referred to as government-serviced enterprises (or GSE's for short), those two entities had to be bailed out to the tune $66 billion had to be paid back to the federal government as those two groups had to be bailed out as well. Just as with AIG and the broader TARP program, all of that money was paid back and with a tidy profit on top of it to boot. The government really has no excuses about Fannie Mae and Freddie Mac going forward as the two groups became part of the federal government via conservatorship in 2008 and they are now federalized agency. There is some talk of those groups being wound down and done away with but that has not happened as of yet (Phillips).
While it may be more attractive to some to help homeowners directly and leave the larger banks hanging, proof of why that is an exceedingly bad idea was easy to spot during the Great Recession when banks were folding left and
colorful period in America's remarkable early history is the gold rush era. In the late 1800's the discovery of gold triggered a flood of immigrants into the country, all intent on making their fortune. These miners shaped the early history of America, and created a great deal of the legend that surrounds the era of the "ild est." hile some of the legends of lawlessness and debauchery are clearly exaggerated, life in the mining towns of the gold rush era was clearly rough and ready.
This paper will examine life in the mining camps of the gold rush era. This will include a look at the people who made up the camps, the general atmosphere, as well as prostitution, gambling, general lawlessness, and the role of religion within the mining camps. The demise of the mining camps will be examined in the context of the development of the railroad and…
Arizona's Ghost Towns. 02 December 2003. http://www.carizona.com/ghosttowns.html
Baumgart, Don. Some Mining Camps Faded Others Grew To Be Cities. Nevada County Gold Online Magazine. 02 December 2003. http://www.ncgold.com/History/BecomingCA_Archive22.html
CmdrMark. Travels in the American Southwest. 02 December 2003. http://www.cmdrmark.com/ghosttowns.html
Koeppel, Elliot H. The California Gold Country: Highway 49 Revisited. Malakoff & Co.
The digital world of communications that we are now living is not only the making of its creators; it is not without the active connivance of, if initially tentative, acceptance of we, the users. The creators of this digitally contrived world are very good at reading the human race in that, which eventually comes around to accepting and adapting to things that are thrown hard at it (Miller, 2013). This adaptability and flexibility has been taken advantage of very subtly. The first few tentative steps that humans take slowly gain in strength and eventually the distrust gives way to acceptance, and eventually confidence. What naturally follows is a warm hearted embrace and soon addiction results. A full-fledged dependence is only a matter of time, thence. This a stage most well suited for the advertisers and marketers where they move in to make the most of the situation and…
Abramovitch, S. (2013). "Google Glass Heading to Film School Class," The Hollywood Reporter, Retrieved online on 17th October 2013 from, http://www.hollywoodreporter.com/news/google-glass-heading-film-school-595151 .
ComScore, (2013)"ComScore Reports August 2013 U.S. Smartphone Subscriber Market Share," comScore, Retrieved online n 17th october 2014 from, http://www.comscore.com/Insights/Press_Releases/2013/10/comScore_Reports_August_2013_S_ Smartphone_Subscriber_Market_Share
Cruz, J. (2013). "BiTE interactive Finds Only One in 10 American Smartphone Owners Would Wear Google Glass Regularly," PRWeb, Retrieved online on 17th October 2014 from, http://www.prweb.com/releases/2013/5/prweb10736534.htm .
Danova, T. (2013). "BI Intelligence: Here's Our Forecast for Google Glass," BusinessInsider, Retrieved online on 17th October 2014 from, http://www.businessinsider.com/forecast-for-google-glass-slide-deck-2013-5?op=1 .
Column Table Displaying Companies and their WACC
Bank of America (BAC)
Bank of America is deemed to be one of the world's largest financial institutions and among the best wealth management companies in the world. According to the company's annual report, its banking as well as nonbanking divisions provide and supply a wide-ranging set of financial product and services through 5 primary business segments. These are categorized as Global Wealth and Investment Management, Consumer and Business Banking, Global Banking, Consumer eal Estate Services and Global Markets (Bank of America Corporation, 2014).
Qualcomm Incorporated (QCOM)
Qualcomm Inc. has come to be one of the major players in mobile technology and innovation. The company concentrates in the areas of creating mobile semiconductor chips, 3G, 4G as well as Code Division Multiple Access (CDMA). In the past of years, Qualcomm Inc. has been a prevailing force in the…
Wells Fargo & Company. (2014). Wells Fargo & Company annual report 2013. Retrieved from: https://www08.wellsfargomedia.com/downloads/pdf/invest_relations/2013-annualreport.pdf
Hoovers. (2016). Office Supply Stores Industry. Retrieved 11 August 2016 from: http://www.hoovers.com/industry-facts.office-supply-stores.1554.html
Yahoo Finance. (2016). Starbucks Corporation (SBUX) Summary. Retrieved 11 August 2016 from: http://finance.yahoo.com/q?s=SBUX
eFinance Management. (2016). Importance and Use of Weighted Average Cost of Capital (WACC). Retrieved 11 August 2016 from: https://www.efinancemanagement.com/investment-decisions/importance-and-use-of-weighted-average-cost-of-capital-wacc
Electronic Cigarettes International Group (ECIG) is an international producer, distributer and retailer of e-cigarettes, e-liquids, and vaporizers with outlets and kiosks in several countries around the world as well as online stores. The company has steadily been growing over the past two years with sales approaching $20 million per quarter in 2016 (SA Transcripts, 2015).
Dan O'Neill replaced Brent Willis as CEO and President of ECIG on January 9, 2015. Dan O'Neill's record of experience as CEO of Molson's and top leadership positions at Heinz and Star-Kist suggests that ECIG is positioned under uniquely qualified leadership for the first time since its creation (it was under Willis that company's share price plummeted to its current record lows). With the reduction of debt and the one-time write-off of losses taken by O'Neill in his first year as President, the company has pivoted for better years (Hoogervorst, 2012).
The electronic cigarette and…
Aaker, D, Biel, A (2013) Brand Equity and Advertising: Advertising's Role in Building
Strong Brands, NJ: Lawrence Earlbaum Associates.
Allen, J., Flanigan, S., LeBlanc, M. et al. (2015). Flavoring chemicals in E-Cigarettes.
Environmental Health Perspectives, 122(12): 23-29.
Vape Nation Business Plan
Mission of the Company
Keys to Success
Legal Form of Ownership
Location and Facilities
Products and Services
F. Financial Statements and Projections
F1. Forecasted Profit and Loss Statement
F2. Forecasted Balance Sheet
G. Financial eport
G1. Financial Projections
G2. Financial Position
G3. Estimated Capital/Investment Needs
Suggested length of 1-2 pages
Vape Nation, based in the U.S. in California is national start-up that expects to compete in the emerging vapor industry, utilizing vaping technology, e-liquids, and e-cigarettes to market itself to local, national, and online customers.
A2. Mission of the Company:
The mission of Vape Nation is to create brand awareness, brand loyalty, and capture market share in the emerging vaporizer market.
Allen, J., Flanigan, S., LeBlanc, M. et al. (2015). Flavoring chemicals in E-Cigarettes.
Environmental Health Perspectives, 122(12): 23-29.
Boseley, S. (2015). Hon Lik invented the e-cigarette to quit smoking. The Guardian. Retrieved from https://www.theguardian.com/society/2015/jun/09/hon-lik-e-cigarette-inventor-quit-smoking-dual-user
Chaudhui, S. (2015). Study finds e-cigarettes contain chemical tied to 'popcorn lung'.
China announced on Oct. 28, 2004 the first interest rate rise in nine years. In this manner, Beijing is showing its willingness to adopt additional market-oriented reforms in order to have a tighter macro-economic control on the already overheated economy. Although the news regarding the evolution of the Chinese interest rate were contradictory, it would appear that North American economists are welcoming this interest rate increase.
The Chinese economy is rapidly becoming one of the most important in the world, with an annual 8% growth-rate, constant expansion in the preceding years and a history of twenty years of economic reforms. The global economy and especially neighboring countries such Taiwan and Hong Kong are feeling the pressure of the Chinese machine. Investors have made public their fears, since April 2004, that the economy will overheat and are now expecting the austerity measures by the Government to slow the growth and provide…
. "China economy: Beijing considers rate rise to cool economy";
EIU ViewsWire. New York: Apr 20, 2004. pg. n/a (c) 2004 The Economist Intelligence Unit Ltd.,Source: Financial Times
2. "Chinese interest rise shakes international market";
The English version of the Chinese People's Daily Online
Big to Fail
The phrase "too big to fail" is a term used to describe certain institutions that are so large, interconnected and significant to the American economy that their failure would be disastrous. Because of this perception American public policy has evolved into government support for these institutions when their frequently poor management, greed, and risk-taking behaviors put them in jeopardy.
A partial list includes: Fannie Mae, Freddie Mac, AIG, General Motors, Bank of America, Citigroup, JPMorgan Chase, Wells Fargo, GMAC, Chrysler, Goldman Sachs, Morgan Stanley, Bank of America subsidiaries (Countrywide), U.S. Bancorp, Capital One, Regions and SunTrust.
The issue of taxpayer funded bailouts for institutions deemed too big to fail is one of the most controversial subjects that can be brought up. Bailouts for U.S. automakers like GM and Chrysler can at least be credited with saving jobs of U.S. employees. By preventing massive layoffs, bailing out these…
Managing Operating Exposure and FX isk at Nissan:
Global businesses are usually exposed to financial risks like currency volatility. The foreign exchange risks, which are commonly known as FX risks, have significant effects on all aspects of a global company. Notably, the foreign exchange risks affect firms across various industries including the automobile industry. In this industry, the operations and manufacturing processes of auto makers are usually affected by currency fluctuations. An example of a global firm in the automobile industry that has been involved in managing the foreign exchange risks and operating exposure is Nissan.
In 1999, Nissan was in a death spiral as the firm was experiencing heavy losses, carrying massive debts, and has a bad reputation. During this period, Carlos Ghosn was appointed as the Chief Executive Officer in order to help save the company that was sinking into further challenges and complexities. In attempts to rescue…
Book Review. (2005, January 17). The Gaijin Who Saved Nissan. Retrieved December 7, 2012,
Kim, Y. & McElreath, R. (2001). Managing Operating Exposure: A Case Study of the Automobile Industry. Multinational Business Review, 9(1), 21.
Nguyen, C. (2011, October 25). How Nissan Bucked the Auto-bailout Trend. Retrieved December 7, 2012, from http://bizcovering.com/management/how-nissan-bucked-the-auto-bailout-trend/
PESONAL & OGANIZATIONAL ETHICS
Personal and Organizational Ethics Values for, for-Profit and Non-Profit Organizations
Ethics is a requirement of the society to both individuals and organizations. Ethics are applied to business and personal behaviors, and are used to determine how companies and individuals abide to policies. To indicate the application of ethical principles in organizations, an analysis is carried out of For-Profit and Non-For-Profit organizations, in this case Bank of America and Boys Club of America. This is by analyzing an ethical dilemma they are experiencing, their approach to the problem, and the legal, political, and social outcomes emerging from this cause of action.
The Boys Clubs of America is a non-for-profit organization founded in 1860s in Harford, Connecticut Formed with the aim of giving boys who roamed the streets a positive alternative. The club has undergone major changes beginning in 191 when several boys' clubs affiliated to…
Anonymous. (2009, Dec 16). Boys & Girls Clubs of America, Lowe's Announces $1 Million
Bach, R. (2010, March). A Letter from our Chairman Emeritus: March 2010. Retrieved from Boys and Girls Club of America: http://www.bgca.org/chairman/Pages/MarchLetterfromOurChairman.aspx
Bank of America. (2013). Retrieved March 21, 2013, from Bank of America: http://message.bankofamerica.com/heritage/#/ourheritage
BCOA. (2011). Boys of America. Retrieved from Boys of America: http://www.bgca.org/Pages/index.aspx .
5% of capacity. The court condemned California governor Brown for insisting that mental health services were not compromised in California prisons due to prison over-crowding.
Your Remarks: Largely a continuation of a prior event, but a worthwhile development nonetheless. Basically, it's a matter of some people in California government having a spat with the courts regarding whether inmates are being treated and otherwise processed effectively given the significant overcrowding in California prisons.
Court Visited: Northern California District Court
Day/Time: April 11th, 2013
Judge: Robert Seeborg
Plaintiff: Joe Quirk
Defendant: Sony Pictures
Issue: Copyright Infringement Accusation
Holding: Summary judgment was given to Sony Pictures and Mr. Quirk's accusations about copyright infringement was dismissed. The ruling was justified on the grounds that Quirk's claim was inherently flawed and that copyright pertains to "expression, not ideas."
Your Remarks: Pretty common nowadays for an obscure/starving artist to claim that a big-time motion picture was…
" 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…
hat is less certain is the benefits of the bailout -- those can only flow from taking advantage of the bailout to restore credit markets and prevent a repeat of this financial crisis in the future.
Baker, Dean. "Subprime Rescue Plans: Backdoor Bank Bailouts." (2008): 9 pages. EconLit. EBSCO. 10 May 2009
Mishkin, Frederic S. "How Big a Problem is Too Big to Fail?" (2006). 18 pages. Journal of Economic Literature. Vol. XLIV (December 2006) pp.988-1004.
Glasberg, Davita Silfen, and Dan Skidmore.. "The Dialectics of hite-Collar Crime: The Anatomy of the Savings and Loan Crisis and the Case of Silverado Banking, Savings and Loan Association." American Journal of Economics and Sociology 57.4 (Oct. 1998): 423-449. EconLit. EBSCO. [Library name], [City], [State abbreviation]. 10 May 2009 .
Manchester, Joyce, and arwick J. McKibbin.. "The Macroeconomic Consequences of the Savings and Loan Debacle." Review of Economics and Statistics 76.3 (Aug.…
Baker, Dean. "Subprime Rescue Plans: Backdoor Bank Bailouts." (2008): 9 pages. EconLit. EBSCO. 10 May 2009
Mishkin, Frederic S. "How Big a Problem is Too Big to Fail?" (2006). 18 pages. Journal of Economic Literature. Vol. XLIV (December 2006) pp.988-1004.
Glasberg, Davita Silfen, and Dan Skidmore.. "The Dialectics of White-Collar Crime: The Anatomy of the Savings and Loan Crisis and the Case of Silverado Banking, Savings and Loan Association." American Journal of Economics and Sociology 57.4 (Oct. 1998): 423-449. EconLit. EBSCO. [Library name], [City], [State abbreviation]. 10 May 2009 .
Manchester, Joyce, and Warwick J. McKibbin.. "The Macroeconomic Consequences of the Savings and Loan Debacle." Review of Economics and Statistics 76.3 (Aug. 1994): 579-584. EconLit. EBSCO. [Library name], [City], [State abbreviation]. 10 May 2009 .
The Bank CEO's ole in Defining Ethical Integrity
Based on a thorough review of existing literature of the role of ethics in the banking industry, the role of the CEO as the ethical leader of their organization is next discussion. Based on the concepts presented in the paper to this point as the foundation, these key points provide insights into how CEOs and senior management actively shape the ethical standards of the organizations they manage on behalf of shareholders.
isk Management Is a CEOs' Ethical esponsibility combination of forces -- changing regulatory expectations that open companies up to intense levels of examination, heightened stakeholder sensitivity to and scrutiny of corporate behavior, and the severity of punishment by financial markets for corporate missteps -- push reputation and ethics management onto the CEOs' and senior managements' agenda. The paradox CEOs face is when to risk the reputation and brand of the company…
John Bond (2007). A safety culture with justice: A way to improve financial performance. Loss Prevention Bulletin,(196), 31-39. Retrieved October 20, 2008, from ABI/INFORM Global database. (Document ID: 1333256011).
Donald R. Cassling (2008). Poehl v. Countrywide Home Loans, Inc. The Banking Law Journal, 125(9), 865. Retrieved October 21, 2008, from ABI/INFORM Global database. (Document ID: 1571291211).
Chris Churchill (2007). State targets lender ethics: Mortgage brokers must get training, undergo criminal checks starting next year. Knight Ridder Tribune Business News. Retrieved October 21, 2008, from ABI/INFORM Dateline database. (Document ID: 1335614991).
Greenberg, J. (1990). Employee theft as a reaction to underpayment inequity: The hidden cost of pay cuts. Journal of Applied Psychology, 75, 561-569.
Obvious concerns, such as when a firefighter entering a high-rise building loses communications with his team because tall buildings are not conducive to radio wave transmission and therefore do not allow firefighters' radios to work properly has not been addressed during the recent trend of building higher and higher.
Even something as simple as an external fire on a high-rise cannot be defended with the conventional firefighting techniques used throughout history. Unless helicopters or airplanes are deployed, a simple fire on say the 75th floor could wreak havoc. These concerns regarding safety and building size were logged from fire service representatives long before September 11th. As early as 1995, retired Fire Chief of the FNY, Vincent unn wrote that the World Trade Centers were lacking proper evacuation avenues and that if the buildings ever encountered a serious fire, existing procedures would be useless and that people above a certain threshold…
Harbin, China 2000 336 1,103 (Infoplease, 2004)
The American objection to Just Cause is deficient. upposedly, the American system of private property and freedom of contract rests on fairness and autonomy. This contradicts their practice of contract at will. Just Cause should be practiced on two counts: firstly, it is more ethical -- it would prevent against unfair dismissal; it may be less costly -- it will prevent against costly litigation where employers will be fined post facto for wrongful dismissal. Precisely how Just Cause should be implemented is discussion or another article.
I personally agree with McCall. Arbitrate dismissal can result in a situation where the new employer arbitrarily dismisses a dedicated and capable employee based on personal judgment alone. The personal judgment can often be faulty and unethical including instances of age, gender, appearance, and so forth -- any of which can disturb the employer. The employer is legally not allowed to dismiss on these…
The Hawk Eye. (Sep. 11, 2012) an overreach