...and fraudulent business practices, leaving investors shaken and scorched. Enron Corp. is perhaps most notorious. Executives embezzled funds from investors, and as Enron teetered on bankruptcy, it misrepresented its financials and may have even created a false energy crisis. Investors lost more than $70 billion. The infamous Bernie Madoff, who was a well regarded and trusted financial investor and philanthropist to boot, fooled investors and got the best of the Securities & Exchange Commission. Madoff operated legal and illegal operations. His illegal entity ran a Ponzi scheme, using revenue from new investors to pay existing clients. Shareholder losses from Madoff’s actions amounted to $20 billion. WorldCom and Tyco International have become synonymous with white-collar crime, thanks to unscrupulous behavior by a select few business executives within those companies. Bad executive behavior can lead to sales declines and tanking stock prices, and sometimes, a company’s demise. Enron brought down itself and a former “big five” accounting firm, Arthur Andersen. Companies not in any danger of collapsing, but recently shown to have ethical lapses that could signal bigger problems within the company include Chesapeake Energy Corp. (NYSE: CHK), Wal-Mart...
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...burning hydrocarbon currently being used as a fuel. With over 49% of households relying on natural gas for everyday heating of their homes it has become just as important as the standard crude oil. With Oil prices taking a rise and fall in the most recent years the move to natural gas has become an important decision for the regular consumer. Even though U.S retail price for all grades of gasoline fell this month to 6.8 cents from the prior week to $3.662 per gallon in accordance to the Energy Information Administration (EIA), it still remains at a high average for the regular consumer (American Petroleum Institute Statistic, 2011). Although the resources for natural gas pumps are not readily available Chesapeake Energy, Inc. plans to break ground and be at the forefront of this venture, and make natural gas an affordable commodity to all levels of income brackets. Components of Retail Regular Gasoline Prices [pic] Sources: U.S. Dept of Energy, U.S. Dept of Labor, and API This memo will recommend and introduce a new project to be considered for implementation into the SBU portfolio. This project will be the combination of an offering of a crude oil and natural gas mixture of fuel; that will be offered to the public sector as another alternative to the use of crude oil alone. In a review we realize that one of the other projects originally planned will either be delayed or experience a budget cut to allow this new combined...
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...many ethical accounting breeches in large corporations that ended up costing investors and employees of the corporations a lot of money. Enron was a major player in many breeches, and ultimately was one of the key players for the SEC creating new guidelines and punishments for fraudulent behavior, the Sarbanes-Oxley Act. As of today, with the SOX act put in place for almost 11 years, there are still corporate breeches, Chesapeake Energy, Wal-Mart, Green Mountain Coffee, and Groupon are among the most recent (Rogers, 2012). I believe the SOX act helped prevent a lot of accounting illegalities and helped to protect the shareholders, but ultimately the act is not strong enough or covers enough to prevent it all. While more accountability is definitely held with the CFO, and CEO of corporations, as well as with outside accounting teams, the SEC is not going forward with investigations regarding independent CPAs or accounting firms (Benston & Hartgraves, 2002). Chesapeake Energy is a clear example; the CEO had taken out $1.1 billion in loans funded by Chesapeake in return for stake in the company (Driver & Grow, 2012; McKenna, 2012). The SEC has rules against taking out loans for stocks, but because it does not mention any areas related to stake in the company, it falls in a grey area that cannot be prevented by the SOX act or SEC (Driver & Grow, 2012). In section 402 of the SOX act, it states that companies are unable to give personal loans to any director or executive...
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...CHESAPEAKE ENERGY CORPORATION BY: GALE C. HOWARD Chesapeake Energy Corporation is headquartered in Oklahoma City, Oklahoma. With field offices spread throughout its vast operating area to include: Oklahoma, Texas, Wyoming, Louisiana, Ohio, and Pennsylvania. Chesapeake Energy is the second largest producer of natural gas and the twelfth largest producer of oil in the United States. Chesapeake Energy employs approximately 4400 employees and owns about 9.5 million net acres of leasehold rights. As with all energy companies, Chesapeake Energy must follow the legal guidelines of several entities. One of the entities being the State Commissions governing oil and gas interests. These control the conservation of oil and gas products as well as mineral interest owner’s rights. Another entity is the Internal Revenue Service which requires strict adherence to their set procedures and accounting of owner’s tax information and payment history. Chesapeake Energy is also subject to various audits of its accounting systems, data concerning its interest calculations, and all investor information. The social environment at Chesapeake Energy is always expanding. Some of the amenities provided to its employees include: a top of the line fitness center, an employee garden, three restaurants on campus, and an outdoor track and field area. All of these amenities allow the employees to interact with each other in a more relaxed social setting. In a more professional setting, Chesapeake...
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...order to release offspring in areas favorable for proper early development. The risks associated with migrating can be costly, including acquiring and allocating energy for both migration and oogenesis (egg development) and increased predatory risk. Two of the most spectacular migrations of crabs are blue crab migration at Chesapeake Bay and red crab migration Chrismas Island. However, blue and red crabs choose different strategies (e.g. timing, route, mechanisms) in order to successfully complete migration and maximize survival of offspring. At Chesapeake Bay, blue crab mating typically occurs from May to October in lower salinity areas of the Chesapeake Bay. After mating, males remain in these lower salinity areas. However, because blue crab larvae require high salinities for proper development, females will begin moving south to the spawning grounds near the mouth of the Chesapeake Bay and near-shore coastal areas. Periods of peak spawning (larval release) along the Mid-Atlantic Bight have typically been documented from late July through August. After spawning, many females use flood tides to return to the lower estuary, where they may produce subsequent broods, but do not move back into lower salinity zones. Some mature females may also move into near-shore and offshore coastal waters after spawning. The Chesapeake Bay is a large estuary and for many crabs the distance between mating areas the spawning grounds can be considerable (> 100 km). Peak spawning typically occurs...
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...During the 1600's, people in the American colonies lived in very distinctive societies. While some colonists led hard lives, others were healthy and prosperous. The two groups who showed these differences were the colonists of the New England and Chesapeake Bay areas. The differentiating characteristics among the Chesapeake and New England colonies developed due to economy, religion, and motives for colonial expansion. The colonists of the New England area possessed a very happy and healthy life. This high way of living was due in part to better farming, a healthier environment, and a high rate of production because of more factories. The colonists of the Chesapeake Bay region, on the other hand, led harder lives compared to that of the colonists of New England. The Chesapeake Bay had an unhealthy environment, bad eating diets, and intolerable labor. The colonists had different reasons for settling in these two distinct regions. The New England region was a more religiously strict yet diverse area compared to that of the Chesapeake Bay. The development of religion in the two regions came from separate roots. After Henry VIII and the Roman Catholic Church broke away from each other, a new group of English reformers was created called the Puritans. The Puritans came from protestant backgrounds, after being influenced by Calvinistic ideas. When their reforms were thwarted by King James I of England, they fled to the New World in what is now known as the "Great Migration". The Puritans...
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...The Chesapeake Bay oyster wars were multiple wars between pirates and legal watermen and authorities during 1865 through 1959. Watermen from near and far would come to the Chesapeake Bay and sometimes even the Potomac River to harvest oysters. The oyster wars demonstrate exploration, encounter, and exchange in history. Exploration is demonstrated through the Chesapeake Bay oyster wars. Foreign watermen would travel far distances to come to the Chesapeake Bay to harvest oysters. Many did this because of restrictions in their harvesting areas, such as laws and/or the amount of oysters in their local oyster beds. “New England watermen encroached on the Bay after their local oyster beds had been exhausted… (1)” Oyster dredgers would clean out their local oyster beds and would search for places with a plethora of oysters so they can continue their business....
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...the sea. Well over 50 percent of the area is gently sloping. The climate regime is equable, with a small to moderate annual temperature range. Average annual temperature is 60 to 70F. Rainfall is abundant and well distributed throughout the year; precipitation ranges from 40 to 60 in per year. Mild rainforest is run of the mill in this region. The broad beach front bogs and inside bogs are overwhelmed by gum and cypress. Soils are chiefly Ultisols, and Entisols. Estuaries are home to exceptional plant and creature groups that have adjusted to salty water. Container Bay backings and holds a wide assortment of untamed life and species. Container Bay is one of three locales which makes up the Chesapeake Bay estuary. These tributaries are a critical part of the general wellbeing of the Chesapeake Bay biological system. The essential point of this trek was to examine the natural life found in the Jug Bay region and record information about it. Description of Methods/Procedure: Though out the day we went and investigated two different plots and explored the wetlands. In the two plots we went to, we had to research the wildlife to decide if the plot was a young forest, a mature forest, or a climax forest. We used a number of tools to measure out a 10 by 10, square plot, and then we proceeded to measure and count the number of trees in the plot. I specifically was in charge of using a tape measurer to measure the width of the trees in one plot, and in the other I was in charge...
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...There seems to be a plethora of human problems that are contributing to the problems that surround the Chesapeake Bay. The problems that humans are causing on the environment may or may not be able to be solved. Nevertheless, it is crucial that the human race attempts to do so. There happens to exist a plethora of ways that humans could restore balance to the bay again. human activity takes a toll on the environment, and there are in fact ways to help the bay be nursed back to health Another, perhaps less obvious way to solve this problem is to lower the amount of power plants are used. As stated in the articles above, power plants heat the water before it is re-entered into the bay, thus changing the chemistry. If the population there turns...
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...Slogan Maryland the great state where we fish with great bate. Our colony give you the free decision for your religion. We have chesapeake bay it’s a major trading post and we don’t even boast. This is our state, now let's celebrate! Location The state of Maryland is located on the east coast, between the states of Pennsylvania, delaware, Virginia, and West Virginia. Chesapeake Bay Maryland has a large selection of major job industries. Such as; shipping on Chesapeake bay, commercial fishing for Striped Bass, farming crops and animals, and lumber. The low, fertile land surrounding Chesapeake Bay is ideal for farming cattle, chickens and soybeans. Also, the Chesapeake and Delaware Canal is one of the world’s largest shipping canals, it...
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...Felice Schwartz Ms. North IB Environmental Science I September 23, 2013 Field Survey Project A. Defining the Problem 1. Run off is the indicator 2. The runoff affects the Chesapeake Bay because it brings pollution into it. It carries contaminants from land such as nitrogen and bacteria. This then creates algae, which deprives the bay of oxygen. It also clouds the water and in turn restricts the amount of sunlight in the water, which limits the growth of grasses. Ultimately creating an unstable environment in the bay and kills the life that lives there. 3. Healthy system: RainDrainage Systems Heavily forested area with high grasseslimited runoffHealthy Bay Unhealthy system: RainDrainage systemsImpervious surfaceRunoff from the surface into the storm drainsstorm drains give off into the bayBay is unhealthy from excessive runoff. B. Data Collection Qualitative | Bare soil | Landscape | Drainage systems | | Quantitative | Measure in cm^2 | Percentages taking of different land use | Count how many | | C. Data Processing 1. The mathematical formula used was Q= (C)(i)(A). The calculated results of the formula were Q= .89x3x3.2, Q=8.54. 2. The uncertainties that exist in our formula are that some of the components are our own estimations and therefore the validity of them is uncertain. 3. The estimated effect is that our calculation could be about .2 off. We got this effect because we calculated a different Q using slightly...
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...conventional farming became the foundations of the early economies of the Navesink/Shrewsbury peninsula and in fact many streets were paved with oyster shells. (History of the Navesink) While this economic role was important the humble oyster in fact played a much greater role in the life and health of the entire ecosystem overall. This is in their role as a keystone organism and one of the engineers of New York Harbor and its associated estuaries. Oysters contribute to a healthy ecosystem by their role as valuable filterers of water and the creation of oyster reefs and beds that provide habitat for man marine species such as juvenile fish and crabs. These reefs also served as valuable physical elements to the environment by displacing wave energy and dissipating high tides and storm surges to protect valuable salt marsh development and health. (About BOP n.d.) Unfortunately the oyster like many other valuable natural resources has suffered greatly due to the influences and impact of man. Historically, the first threat to the oyster was simple over harvesting and poor resource management. Oysters are somewhat unique in that they require an existing colony or reef of shells to propagate and reproduce. When oysters where harvested their shells were removed from the estuary and never returned causing disruption to the natural life cycle of the oyster. More recently oyster reefs were furthered destroyed during as the result of dredging to create channels, remove navigation hazards...
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...The Chesapeake and New England regions were both similar in the fact that they were founded by English settlers looking for a better life. Though the regions’ beginnings were very much alike, they eventually evolved into completely different distinct societies. They had very different demographics, successes, and values. These differences came for a few key reasons. Chesapeake and New England became such distinct societies due to differences in geography, religion, and reasons for coming to America. Geographical differences played a big part in how each society developed. In the Chesapeake area, horrible diseases ravaged the colonies which led to a great percentage of the population dying. In New England, the colder climate prevented these diseases...
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...Systems of Natural Science 114.2.3 Ecosystems Chesapeake Bay Ecosystem (Taylor & Allen) • The Bay is approx. 200 miles long, from Havre de Grace, Maryland to Virginia Beach, Virginia • The Bay's width ranges from 4 miles near Aberdeen, Maryland, to 30 miles near Cape Charles, Virginia Major Components Chesapeake Bay Ecosystem Biotic Components (Living) Abiotic Components (Non-living) • • • • • • 350 species of fish Crabs Shellfish Birds Mammals Reptiles and Amphibians (Bay stat) • • • • • Water Quality Sunlight Weather Soil Air (pollution) Current Human Impact on Chesapeake Bay Ecosystem Air Pollution Vehicles, industries, power plants, gas-powered lawn tools, and farm operations: Almost one third of the nitrogen that pollutes the Bay and its rivers comes from the air Pollution from a very large geographic area can eventually wind up in the Bay Water Quality Fertilizers, waste water and vehicle emissions: • • Increased nitrogen and phosphorus fuels unnaturally high algae growth in the water Algae turns color of the water brownish or greenish - blocking sunlight from reaching underwater grasses When algae die they are decomposed by bacteria that consume the oxygen needed by other aquatic creatures in the bay Without enough oxygen dissolved in the water, aquatic creatures like fish, blue crabs and oysters become stressed or even die. • • • Air and water pollution are not separate problems. There is a close link between the health...
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...EARLY COLONIZATION PERIOD IN AMERICA By the 1700’s two settlements had been established, Chesapeake and New England regions. Both New England and the Chesapeake region started off as colonies, established by England, and were divided into two distinct societies because of their religious, economic and geographical differences. The first major difference between the two settlements was religion. On one hand, the puritans, who colonized the New England, were very religious. They wanted to create a model society in which there were limits to legitimate commercial behavior, and the religious idealism would turn into a renewed sense of community. They were very strict in their religious beliefs. The Chesapeake region took a different approach, and did not put religion at the center of life. In the Chesapeake, religion was much less severe. These was the difference between two region. The second difference between the two settlements was economy. The Chesapeak’s economy was almost entirely based on farming. Rice, indigo, tobacco, sugarcane, and cotton were cash crops. Crops were grown on large plantations where slaves and indentured servants worked the land. On the other hand New England’s economy was largely depend on ocean. Fishing was most important to the New England economy. Farming was difficult in New England for crops like wheat because of the poor soil. As can be seen the economic sources was different between the two region. The last difference between the two settlements...
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