Dr. Tonia Smart: One Death Too Many!
By Tope Adaramola
No doubt, death is a necessary end for all mortals and like pilgrims that we truly are, everyone will one day literally...
Jack Welch, Legendary CEO of GE Dies at 84!
Jack Welch, former Chairman and CEO of General Electric (GE) dead at 84.
His death was officially announced by his wife, Suzy earlier today.
NGE Mourns its Deputy President, Saidu Wada
The Nigerian Guild of Editors (NGE) is devastated at the news of the death of its Deputy President, Malam...
The Nigerian Guild of Editors Mourns Tukur Abdularahman
On behalf of the Nigerian Guild of Editors (NGE), we write to express our deep sense of loss and...
AFRICA TELECOM & IT Loses Director, Monique Butt
The Board, Management and Staff of Telecom and IT Business Limited; publishers of Africa Telecom & IT has announced...
Arthur Andersen: Fall From Grace-A Sad Tale of Greed!
At "Andersen U.," the lush, 150-acre campus where Arthur Andersen LLP has trained tens of thousands of new recruits, there's a shrinento ethical accounting.
A display in the Andersen Heritage Center is devoted to yellowing press clippings of a long-ago campaign to clean up the accounting industry by Leonard Spacek, who led the firm from 1947 to 1963. In one, he accused Bethlehem Steel of overstating its profits in 1964 by more than 60%.
In another, he bashed the Securities and Exchange Commission for failing to crack down on companies that cooked their books, saying that at best the regulatory agency has been "a brake on the rate of retrogression in the quality of accounting."
Enron: The Fall of A Wall Street Darling
Enron is a company that reached dramatic heights, only to face a dizzying collapse. The story ends with the bankruptcy of one of America's largest corporations.
Enron's collapse affected the lives of thousands of employees, many pension funds and shook Wall Street to its very core. To this day, many wonder how a company so big and so powerful disappeared almost overnight. How did it manage to fool the regulators and the Wall Street community for so long, with fake off-the-books corporations?
Case Study: The Collapse of Lehman Brothers
Overview
On September 15, 2008, Lehman Brothers filed for bankruptcy. With $639 billion in assets and $619 billion in debt, Lehman's bankruptcy filing was the largest in history, as its assets far surpassed those of previous bankrupt giants such as WorldCom and Enron.
Lehman was the fourth-largest U.S. investment bank at the time of its collapse, with 25,000 employees worldwide. Lehman's demise also made it the largest victim, of the U.S. subprime mortgage-induced financial crisis that swept through global financial markets in 2008. Click here to make a lazy tweet