corporategreed - Mar Mar Mar Mar Martin Grass tin Grass tin...

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Unformatted text preview: Mar Mar Mar Mar Martin Grass tin Grass tin Grass tin Grass tin Grass The Many Faces of Corporate Greed Lay served as CEO while Enron allegedly hid debts totaling more than $1 billion through off the books partnerships. Enron also alleg- edly manipulated California and Texas en- ergy markets and bribed foreign officials dur- ing Lays tenure. WorldCom admits to improperly booking $7.2 billion in profits while Ebbers was CEO. Ebbers led a company with 20 million paying customers into the largest U.S. bankruptcy ever ($107 billlion in assets). He received $408 million in off-the-books company loans and a $1.5 milllion a year pension. Bernard Ebber Bernard Ebber Bernard Ebber Bernard Ebber Bernard Ebbers Former WorldCom CEO Reported Compensation 1999-2001: $44 million Kenneth L. La enneth L. La enneth L. La enneth L. La enneth L. Lay A New York grand jury has indicted Kozlowski for stealing $600 million from Tyco through stock fraud, unauthorized bonuses, and falsified ex- pense accounts, all the while bribing board mem- bers and employees to keep his illicit activities secret. He used Tyco money to buy a $17,100 trav- elling toilet kit and a $15,000 dog umbrella....
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This note was uploaded on 03/19/2010 for the course AC530 AC530 taught by Professor Peoples during the Spring '10 term at Keller Graduate School of Management.

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