CORPORATE AFTERSHOCK 2 PHẦN 6 potx

... dollar value. More than 25 0 public companies filed for bank- ruptcy protection, a 46 percent increase over the previous year’s 1 76, which itself had been a record (Li, 20 02) . And, the year ended ... judgment and rescheduled a trial date in early 20 03. On January 2, 20 03, JPMC announced that it was taking a $1.3 bil- lion charge in the fourth quarter of 20 02 largely to deal wit...

Ngày tải lên: 07/08/2014, 02:20

... of the underlying transactions. In October 20 02, FASB issued a proposal for principles-based ac- counting standards for the United States (FASB, 20 02) . FASB concluded its proposal with the following ... control of the receivables. The provisions of both FAS 76 and FAS 77 were superseded by the FASB in 19 96 with the is- suance of FAS 125 . Until 19 96, all the direct authoritative guid...

Ngày tải lên: 07/08/2014, 02:20

Ngày tải lên: 12/07/2014, 15:20

... just before the end of the 20 01 third-quarter financial reporting period. Many would argue that Enron and Qwest were swapping one worthless thing for another worthless 20 CORPORATE INNOVATION AND ... asymmetric information is hardly riskless. On the contrary, it can be very risky. This 12 CORPORATE INNOVATION AND GOVERNANCE February 20 01. That Skilling would rise to this level, how...

Ngày tải lên: 07/08/2014, 02:20

... 4,045 5,338 7 ,23 2 Total revenues 31 , 26 0 40,1 12 100,789 Less: noncash revenues (see footnotes) (1,984) (2, 533) (4,794) Cash revenues 29 ,27 6 37,579 95,995 Cash cost of sales 26 ,381 34, 761 94,517 Cash ... margin (deficit) 2, 895 2, 818 1,478 Operating expenses 2, 473 3,045 3,184 Cash operating income (loss) 422 (22 7) (1,7 06) Source: Prepared from information provided in the...

Ngày tải lên: 07/08/2014, 02:20

... on NASDAQ, had hit its high of $ 96. 75 in June 1999, giving it a market capi- talization of $191 billion. On April 22 , 20 02, WorldCom reduced its revenue projections for 20 02 by “at least” $1 billion. 173 Seven ... sinking stock price, controversy over Mr. Ebbers’ $ 366 million [the May 20 , 20 00, WorldCom Proxy Statement re- vealed that the true amount was $408 .2 million] person...

Ngày tải lên: 07/08/2014, 02:20

... the Midwest during June 1998” released on September 22 , 1998. 15. Herron discusses EnronOnline in more detail in Chapter 6 of this volume. 96 ENERGY AND DERIVATIVES MARKETS AFTER ENRON Power marketers ... to 2, 000 products listed for trading at one point, this quickly became the largest e-business site in the world, averaging 6, 000 transactions per day and worth about $2. 5 billion....

Ngày tải lên: 07/08/2014, 02:20

... Info Source (October 18, 20 02) . 6. Bryce (20 02) , p. 21 7. 7. Woods (20 02) , p. 125 . 8. “A Conversation with the LME’s Simon Heale.” Wall Street and Technology (April 5, 20 02) . 9. See note 8. 10. ... Works: The Mule Market,” National Review ( January 22 , 20 02) . 2. “Enron Networks,” Draft Presentation and Internal Discussion Document, November 20 01 (on file with the author)....

Ngày tải lên: 07/08/2014, 02:20

... which LJM2 invested allowed Enron to avoid reflecting nearly $1 billion in losses on merchant investments from the third quarter of 20 00 through the third quarter of 20 01 (Powers et al., 20 02, p. ... disclosed (Powers et al., 20 02) . Despite its hedging efforts, Enron’s finance team chose to terminate the Rhythms hedge toward the end of the first quarter of 20 00. In No- vember 20 0...

Ngày tải lên: 07/08/2014, 02:20

... Mahonia was identified as a suitable ve- hicle for conducting that transaction (Harrison, 20 02) . From 1994 to 20 01, Enron engaged in another 10 prepaid transac- tions with Mahonia. All but the last ... instance, Mahonia did reject a trans- action proposed by Chase because it was too risky (Harrison, 20 02) . Similarly, as a separate firm responsible for its own deals, the swap between C...

Ngày tải lên: 07/08/2014, 02:20