Greed and Corporate Failure (eBook)

STEWART HAMILTON has been Professor of Accounting and Finance at IMD, Switzerland since 1981. A graduate of the University of Edinburgh, UK, he is a member of the Institutes of Chartered Accountants of Scotland, of Alberta and of Ontario. Formerly a senior partner of a UK national accounting firm, he has extensive consulting experience with a wide range of major European companies. He has contributed to many books and other publications and has written prize winning cases on the failures of Barings and Enron.ALICIA MICKLETHWAIT is a Graduate of the University of Oxford, a member of the Chartered Institute of Management Accountants and has an MBA from IMD. She has held accounting and commercial positions in industry and worked as a member of the acquisition and internal audit team of an American owned multinational. She co-wrote the prize winning case study of the collapse of Barings Bank.

Cover 1
GREED AND CORPORATEFAILURE 4
CONTENTS 8
Foreword 12
Preface 14
Acknowledgements 16
Chapter 1 Introduction 18
Chapter 2 Barings and Allied Irish Bank: Lessons Ignored 30
Chapter 3 Enron: Paper Profits, Cash Losses 50
Chapter 4 WorldCom: Disconnected 76
Chapter 5 Tyco: Greed, Hubris and the $6000 Shower Curtain 98
Chapter 6 Marconi: Establishment to Wunderkind to Basketcase 115
Chapter 7 Swissair: Crashed and Burned 133
Chapter 8 Royal Ahold: Shopped Till He Dropped 152
Chapter 9 Parmalat: Milking the System 170
Chapter 10 Conclusions 190
Epilogue 201
List of Abbreviations 203
Glossary 204
Index 216