Greed and corporate failure: the lessons from recent disasters
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Basingstoke [u.a.]
Palgrave Macmillan
2006
|
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XVI, 207 S. |
| ISBN: | 9781403986368 1403986363 |
Internformat
MARC
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Datensatz im Suchindex
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|---|---|
| adam_text | Contents
Foreword xi
Preface xiii
Acknowledgements xv
Chapter I Introduction I
Poor strategic decisions 2
Overexpansion 2
Dominant CEOs 3
Greed, hubris and a desire for power 4
Failure of internal controls 5
Ineffective boards 6
Other issues 7
The millennium meltdown 8
The recent past 9
The aftermath 11
Chapter 2 Barings and Allied Irish Bank: Lessons Ignored 13
A new dawn: Around-the-clock global trading 14
The sixth great power 16
Marrying the traditional and the entrepreneurial 18
The party is over 19
Confused reporting lines in a matrix management structure 19
Enter a star performer - Nick Leeson 20
The Singapore business 22
The cover-up and creation of the 88888 account 23
Discovery and collapse 24
The fallout 25
Plus ca change, plus c est la meme chose 26
The unlearnt lessons 26
Memories are short 27
What went wrong and lessons to learn 28
Why Allied Irish repeated the mistakes of Barings and lessons
to learn 29
viii Contents
Chapter 3 Enron: Paper Profits, Cash Losses 33
The earthquake 34
The creation of Enron 35
The Enron culture 36
A changed environment creates new opportunities 37
Changing the rules of the game 38
Mark-to-market accounting 39
Increasingly adventurous trading operations 41
Expanding the traditional business 41
The broadband story 42
Reporting spectacular financial performance 43
Market and other pressures start to take their toll 44
Being creative with off-balance-sheet transactions 44
The impact of these deals 46
Storm clouds gather 46
The downfall 48
The Powers committee post-mortem 49
What went wrong and lessons to learn 50
The consequences 56
Chapter 4 WorldCom: Disconnected 59
The genesis of WorldCom 60
A tumultuous few years 61
Some doubts surface 63
Moving into new markets 64
The tracker stock diversion 65
A cosy relationship with investment banks 66
Strained personal finances 67
Accounting shenanigans 68
No checks and balances 70
Rumbled at last 72
What went wrong and lessons to learn 73
Chapter 5 Tyco: Greed, Hubris and the Shower Curtain 81
Three decades of growth and profit 81
Dennis Kozlowski - a man with persuasive powers 83
Last vestiges of frugality disappear 85
An acquisition a day ... 86
Extending the portfolio into telecoms and finance 87
The share price on a downward trajectory 88
The house of cards comes tumbling down 90
Blurred boundaries 91
The fallout 92
What went wrong and lessons to learn 94
Chapter 6 Marconi: Establishment to Wunderkind to Basketcase 98
The man with the Midas touch 99
Contrasting leadership styles 100
Contents M
A new strategic vision 102
Defence - weighing up the options 104
Jumping on the telecoms bandwagon 105
The tide turns 108
Epilogue I | |
What went wrong and lessons to learn 112
Chapter 7 Swissair: Crashed and Burned 116
Swissair takes off 116
Airline industry deregulation in Europe I 17
An alliance is proposed I 17
McKinsey s vision for Swissair I 19
Spreading its wings into Europe 121
Hunting for potential partners 123
A distinguished, but ineffective, board 125
Reality dawns 126
Aftermath 128
What went wrong and lessons to learn 129
Chapter 8 Royal Ahold: Shopped Till He Dropped 135
The first century - from small local shop to international group I 36
New team at the top 137
Ambitious plans for rapid expansion 138
Embarking on a major spending spree 138
Food service industry points to new growth opportunities 140
Massaging the figures 142
The engine begins to falter 143
The Argentinian problem 144
From mutterings of trouble to full-blown crisis 144
Heads must roll 145
Ahold after van der Hoeven 147
What went wrong and lessons to learn 147
Has Ahold really changed? 151
Chapter 9 Parmalac Milking the System 153
From local Italian milk company to international dairy giant 154
Home, church and factory 155
Explosive growth 156
A force to be reckoned with 157
Going for broke 158
Things turn sour 159
The decline continues 160
The Epicurum Fund 161
A sinking ship 163
Criminal investigations 165
How did Parmalat do it? 166
What went wrong and lessons to learn 170
The penis of overexpansion 171
x Contents
Chapter 10 Conclusions 173
What has been done? 174
A first priority: Improving boards and boardroom performance 175
Shareholder involvement 177
The need to realign executive compensation 177
Increase the involvement of the audit committee 179
Reform of the investment banks 179
Reform of the accounting profession 180
Profit is an opinion, cash is a fact 182
What next? 182
Epilogue 184
List of Abbreviations 186
Glossary 187
Index 199
|
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| id | DE-604.BV025518046 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-09T22:35:50Z |
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| isbn | 9781403986368 1403986363 |
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| spelling | Hamilton, Stewart Verfasser aut Greed and corporate failure the lessons from recent disasters Stewart Hamilton and Alicia Micklethwait Basingstoke [u.a.] Palgrave Macmillan 2006 XVI, 207 S. txt rdacontent n rdamedia nc rdacarrier Micklethwait, Alicia Verfasser aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=020126931&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Hamilton, Stewart Micklethwait, Alicia Greed and corporate failure the lessons from recent disasters |
| title | Greed and corporate failure the lessons from recent disasters |
| title_auth | Greed and corporate failure the lessons from recent disasters |
| title_exact_search | Greed and corporate failure the lessons from recent disasters |
| title_full | Greed and corporate failure the lessons from recent disasters Stewart Hamilton and Alicia Micklethwait |
| title_fullStr | Greed and corporate failure the lessons from recent disasters Stewart Hamilton and Alicia Micklethwait |
| title_full_unstemmed | Greed and corporate failure the lessons from recent disasters Stewart Hamilton and Alicia Micklethwait |
| title_short | Greed and corporate failure |
| title_sort | greed and corporate failure the lessons from recent disasters |
| title_sub | the lessons from recent disasters |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=020126931&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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