Global Crossing Management - 1100 Words

Global Crossing Management 1 Global Crossing Management Mary Adams MGT/330 April 6, 2010 Global Crossing Management 2 Global Crossing Management Global Crossing was founded in 1997 by Gary Winnick. They reported $3.8 billion in revenue and $1.9 billion in losses in 2000. Global Crossing is a leading global IP solutions provider. Global Crossing has developed the world’s first integrated global IP-based network, according to the About Global Crossing article (2010). The management of Global Crossing began the company by using all four functions of management. The planning function of management†¦show more content†¦Greed seemed to be the downfall of Global Crossing. Global Crossing faced ethics issues when it was discovered that Gary Winnick and former CEO, Leo Hindery, Jr. were involved with insider trading. Another ethics issue with Global Crossing was capacity swapping. The new management team at Global Crossing see ethics as an important part of the company and the planning process. Ethics influence management planning at Global Crossing because it plays an important part in the planning process. When planning, Global Crossing’s management planned a code of ethics and business Global Crossing Management 5 conduct plan. According to Code of Ethics and Business Conduct (n.d.), management at Global Crossing make sure that all employees review and agree with the Code of Ethics. If employees do not comply with the Code of Ethics, they will be subject to discipline and could even be terminated. At the same time that Global Crossing was facing ethic issues within the company, they were also facing legal issues. Insider trading and capacity swapping were both illegal. Gary Winnick, Leo Hindery, Jr., and many others faced legal charges for their illegal activities. The newShow MoreRelatedGlobal Crossing Fraud Case Study709 Words   |  3 PagesGlobal Crossing fraud Description of the fraudulent activity that took place Global Crossing was a fiber optics company that allegedly engineered its finances to hide critical losses, thus deceiving shareholders. The company accumulated $12.4 billion in debt building a worldwide fiber optic network. Global Crossing leased space on its 27-nation network to rivals from which it rented capacity at the same time, helping both parties boost reported revenue (Global Crossing fraud lawsuit can proceedRead MoreCorporate Scandals And Allegations Of Fraud1111 Words   |  5 Pagesexpenses, over value assets, and underreport liabilities. To hide financial problems, management will manipulate stock prices, minimize taxable income, and maximize compensation. â€Å"It s been my experience†¦ that the past always has a way of returning. Those who don t learn, or can t remember it, are doomed to repeat it† (Berry, p. 417, 2009). 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From 1997 to 2000, Global Crossing took on over $7 billion of debt to lay 1.7 million miles of fiber-optic cable to transport data via the Internet. When completed in summer 2001, the network s panned 27 countries and 200 major cities around the globe. The company’s debt load didn’t seem to faze investors—Global Crossing’s market capitalization reached $40 billion in 1999. But then other carriers entered the marketRead MoreImplementation Plan3486 Words   |  14 PagesIntroduction The implementations of organizational projects require careful attention to details. The key to a successful project implementation begins with the selection of the right players. In creating a project management team, careful attention must be made when selecting the Project Manager, the Project Leaders and certain strategic employees. 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Case Summary Shaoxiong Zhang 260558334 Professor Philippe Levy February 9, 2016 Introduction Global Investors Inc., founded in 1965, was a private owned investment management company headquartered in New York. The firm mainly focuses on two activities: investment management (which included research, portfolio management, and trading) and client services (which included marketing and investor advisory services provided to institutionalRead MoreLost insurance benefits as well as retirement benefits tied to WorldCom stock. Shareholders, which1200 Words   |  5 Pagestens of thousands of employees, who otherwise may have never been fired, in an attempt to match WorldCom’s low costs. Although it was not WorldCom’s fault, Qwest committed accounting fraud and Global Crossing declared bankruptcy while also being under investigation themselves. 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