... PROVIDIAN TRUST: TRADITION AND TECHNOLOGY (A) Fenway Cohort Kamanasish Kundu 1. Business Context/Key Business Drivers * In 1994, Providian Trust, the tenth largest provider of financial and fiduciary services, slowly slipped away from profitability and competition due to the lack of efficient business processes and information technology. * The company was headquartered in New York and had three divisions Pension and Institutional Trust Services (PITS), Personal Trust and Trust Operations with a network of 216 branches. * To address the problems that Providian Trust were facing, Michael LeBlanc, the Senior Vice President of Trust, Investment and Treasury, took the initiative to lead the project aimed at not only implementing new technology but also reengineering Providian Trust’s business processes by implementing a major software system, Access plus, developed by Select One. The project, supposed to last for 20 months, cost $18 million, was finally approved by board members in April, 1994. * The key driver behind the above initiative was intense client demand on the part of PITS division, lack of control and discipline in the trust division, lack of operation efficiency and outdated reporting system. 2. Initiative Objectives/Benefits * Decrease the cycle time and improve operation efficiency. As stated in the case, the clients often...
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...legal matters. This letter is intended to provide you with guidance about the tax treatment related to the Deferred Sales Trust (DST) for your apartment building. Based on my research and my extensive years of experience, your financial planner is partially correct with his advice. Below I will give you a detailed analysis of the case. Facts submitted are as follows: An Investor has offered to buy your apartment building in two months from now for $7,000,000 cash, which is the fair market value. I understand that you are willing to sell to this investor at that price but your only concern is paying capital gains taxes. Your financial planner told you to sell your apartment...
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...Anti-trust Policy in the Modern Economy Microsoft's Anti-trust Case Mark Hinman UCCS Baud 5590 Anti-trust Policy in the Modern Economy Microsoft's Anti-trust Case This paper's intention is to discuss the role of anti-trust legislation in the modern economy. To accomplish this, we will be reviewing the United States Government's anti-trust case against Microsoft that began nearly twenty-two years ago. To begin we will look at the history leading up to the filing, the government's argument, Microsoft's argument, and the outcome of the case. We will also look at the intent of the Sherman Anti-Trust Act. Specifically, how does the Sherman Anti-Trust Act protect consumers? Finally, we will discuss whether the anti-trust legislation actually accomplishes what it is intended to do, with respect to the technology industry. Microsoft has been under constant scrutiny since June 1990 when the Federal Trade Commission (FTC) launched a probe into the possible collusion between Microsoft and IBM. Three years later, the FTC handed over their investigation to the U.S. Department of Justice. After years of accusations for monopolizing and engaging in anti-competitive acts, Microsoft finally, on May 18, 1998, received a suit for violation of federal anti-trust laws.[i] The suit alleges that Microsoft is in violation of Sections 1 and 2 of the Sherman Anti-Trust Act, and seeks to prohibit Microsoft from selling certain products and engaging in certain sales...
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...Deputy First Class Andrew Elschlager responded to Southern Trust Auto Sales located at 14030 North Cleveland Avenue, North Fort Myers, Lee County, Florida, in reference to a past occurred grand theft and fraud, which occurred at the Bank of America located at 571 Pine Island Road, North Fort Myers, Florida. Upon arrival, Deputy Elschlager made contact with the complainant and victim, David Castaneda Antonio, a white male, born on June 15, 1973. David, with the translating assistance of Mariel Maqueda, a white female, born on November 12, 1987, advised that on May 28, 2015, he went to Southern Trust Auto car dealership to look at vehicles. There he met with a salesman by the name of Francisco Fernandez, later identified through...
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...Trust Issues: A GlaxoSmithKline Scandal Kamelia D. Sutton Rasmussen College School of Business Management Trust issues a GlaxoSmithKline Scandal GlaxoSmithKline is a global manufacturer of pharmaceuticals, vaccines, and consumer healthcare. “GSK’s mission is to improve the quality of human life by enabling people to do more, feel better, live longer (GlaxoSmithKline, 2014).” According to GSK “prioritizing ethics and performing with integrity is a priority (GlaxoSmithKline, 2014).” GlaxoSmithKline’s research and development is the center of the organization. When research is conducted it is done so in an ethically high standard along with quality standards. Since GSK is a public organization they state they are transparent in their research regardless if the outcome of the research is positive or negative. From 1999 through 2010, GlaxoSmithKline was involved in a scheme to deceive and defraud physicians, patients, regulators, and federal health care programs such as Medicare to prescribe and receive payment for drugs such as Paxil, Wellbutrin SR, and Advair. When we are children we are taught that doctors and nurses are supposed to make us feel better. They are the ones that make all the “boo boo’s” go away. But, what happens when someone puts their trust in a doctor, nurse, or medical professional and that trust is destroyed because of greed, and unethical and socially irresponsible practices? One of the top three global vaccine manufacturers, GlaxoSmithKline agreed...
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...Assignment # 1 Case 6.1 The Greater Providence Deposit & Trust Embezzlement Accounting Information Systems – ACC 564 Professor Jim Ridilla October 23, 2011 Discuss how Greater Providence Deposit & Trust might improve its control procedures over the disbursement of loan funds to minimize the risk of this type of fraud. Segregation of duties is a fundamental element of internal control in any company. No single employee should be given too much responsibility over certain business transactions or processes. When one person in an organization has too much control or access over these responsibilities, problems can and often do arise. In the case of The Greater Providence Deposit & Trust, James Guisti was a manager and trusted employee. Mr. Guisti’s job required him to know the details and intricacies involved in the operation of processing consumer loans. Adequate segregation of duties were not put into place at the Bank, creating a scenario that allowed Mr. Giusti to use his knowledge to embezzle close to $2 million from his employer. Mr. Giusti was authorized to make consumer loans up to a certain dollar limit without loan committee approvals. He then used his position of authority over the customer service representative, Lucy Farioli, to have her co-sign loan checks that were, unbeknownst to her, bogus. Mr. Giusti should have been required to have a member of upper management, not Ms. Fraioli, co-sign the checks. Backup documentation along...
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...Abstract Online shopping or e-commerce is developed rapidly and has a gigantic impact in globalization. Many consumers around the world start to trade products or do business using this system. The most crucial factor for consumer who shops online is trust. Grabner-Kraeuter (1989 p.43) states “Trust can serve as mechanism to reduce the complexity of human conduct in situations where people have to cope with uncertainty”. This paper tries to analyze that which method can be use by online merchants to increase their consumer trust. Various action and tools are introduced to increasing customers’ trust and verify the website information. Amazon.com is chosen to be the case study. The reason behind this is the popularity and reliability of the website and it is ranked in the top30 website in the world. Introduction Figure: E-commerce market size from 2004 to 2014 Source: Euromonitor, International Telecommunication Union; A.T. Kearney analysis E-commerce is now widely used and has a huge impact in globalization The graph above shows the upward trend of e-commerce market size which increasing respectively since 2004 and from now on the trend is also estimated to be rising due to the benefits of it. There are significant reasons behind that why majority of people use this method of trading. First of all, consumers can trade goods easier than by traditional shopping. Consumers can obviously gain convenience when they shop online since they can purchase or sell products...
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...Marvin M. Brandt Revocable Trust v. United States Chief Justice Robert's Opinion Goal: Determine what happens to a railroad's right of way when the railroad abandons it: does it go to the government, or to the land owner who acquired the land underlying the right of way? Why: In order to determine if the property of Marvin Brandt is unburdened and free for his use in result of the railroad's abandonment of the railway, we must examine the General Railroad Right-of-Way Act of 1875. Issue: What happens to a railroad's right of way granted under a particular state when the railroad abandons it: does it go to the government, or to the private party who acquired the land underlying the right of way? Legal Rule: The legal rule in question here is the General Railroad Right-of-Way Act of 1875. According to Roberts, the United States lost its case mainly because it had successfully argued in Great Northern Railway Co. v. United States that 1875 Act rights of way were easements. In that case Great...
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...Perfect/Imperfect Trust Introduction The question in this case refers to the creation of a trust, i.e. the formalities that are required. In the case of Serena, she has created a trust that holds the property in trust for Alice for life and then the remainder goes to Alice’s children. On the death of Serena, there is a valid will where Alice gets all of the property and there is no interest for Alice’s children. Therefore, the following advice is going to identify a trust is in place, which will ensure that the property transfers to the children. The Creation of a trust The case of Milroy v Lord identifies a perfect trust, which includes; 1) a deed of the trust; and 2) transfer of the property following all formalities . Therefore, in the case of the trust created by Serena, both the property “Hillside” and the Jane Austin books have the capability of being part of a perfect trust. However, in the case of the land there are additional formalities, which will be discussed later. At this point there is a perfect trust that related to the books, because this is a case of a perfect trust, because there is both declaration and transfer of the books to the trustees . The share certificate and cheque are not in the deed documents, but have been transferred to the trustee with the declaration “to be added to the trust”. This is not a full deed, but applying the case of Milroy v Lord it is a declaration plus transfer of the property, which means that it has a capability of being a trust under...
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...called “Equity” in the famous case of Earl of Oxford’s Case [1615] . In that case Lord Chancellor held that, “men’s actions...
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...contact us at: help@mindblows.us ECON 312 ALL ASSIGNMENTS WEEK 3 PLUS WEEK 6 Week 3 Assignment; Anti-Trust Case Week 6 Assignment; Current Macroeconomic Situation in the U.S ALL ASSIGNMENTS WEEK 3 PLUS WEEK 6 To purchase this tutorial visit here: http://mindsblow.us/question_des/ALLASSIGNMENTSWEEK3PLUSWEEK6/1887 contact us at: help@mindblows.us ECON 312 ALL ASSIGNMENTS WEEK 3 PLUS WEEK 6 Week 3 Assignment; Anti-Trust Case Week 6 Assignment; Current Macroeconomic Situation in the U.S ALL ASSIGNMENTS WEEK 3 PLUS WEEK 6 To purchase this tutorial visit here: http://mindsblow.us/question_des/ALLASSIGNMENTSWEEK3PLUSWEEK6/1887 contact us at: help@mindblows.us ECON 312 ALL ASSIGNMENTS WEEK 3 PLUS WEEK 6 Week 3 Assignment; Anti-Trust Case Week 6 Assignment; Current Macroeconomic Situation in the U.S ALL ASSIGNMENTS WEEK 3 PLUS WEEK 6 To purchase this tutorial visit here: http://mindsblow.us/question_des/ALLASSIGNMENTSWEEK3PLUSWEEK6/1887 contact us at: help@mindblows.us ECON 312 ALL ASSIGNMENTS WEEK 3 PLUS WEEK 6 Week 3 Assignment; Anti-Trust Case Week 6 Assignment; Current Macroeconomic Situation in the U.S ALL ASSIGNMENTS WEEK 3 PLUS WEEK 6 To purchase this tutorial visit here: http://mindsblow.us/question_des/ALLASSIGNMENTSWEEK3PLUSWEEK6/1887 contact us at: help@mindblows.us ECON 312 ALL ASSIGNMENTS WEEK 3 PLUS WEEK 6 Week 3 Assignment; Anti-Trust Case Week 6 Assignment; Current Macroeconomic Situation in the U.S ALL ASSIGNMENTS WEEK 3 PLUS WEEK...
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...whose favour the court can decree performance” Discuss the principle enunciated in the above statement and the exceptions thereof with the aid of appropriate case law “There must be somebody in whose favour the court can decree performance” INTRODUCTION In order for a trust to be valid, there needs to be an identifiable beneficiary who can either be an individual or a company . If for instance there is no beneficiary, and consequently the trust is for the achievement of some abstract purpose then the trust is to be considered as void. In the words of Lord Grant MR in the case of Morice v. Bishop of Durham : “There can be no trust, over the exercise of which this court will not assume control... if there can be clear, but for uncertain objects, the property… is indisposed of… Every… [Non-charitable] trust must have a definite object. There must be somebody in whose favour the court can decree performance. The rationale of the principle is to ensure the courts ability to administer the trust. Moreover in the case of Re Endacott it was said, in relation to the beneficiary principle, that ‘no principle has greater sanction and authority’ in the law of trust other that requiring the existence of a beneficiary. It is essential for validity. For instance in the case of Re Astor , a trust for the establishment , maintenance and improvement of good understanding, sympathy, and co-operation between nations was held void because they are not for...
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...5 The Recovery of Trust: Case studies of organisational failures and trust repair BY GRAHAM DIETZ AND NICOLE GILLESPIE Published by the Institute of Business Ethics Occasional Paper 5 Authors Dr Graham Dietz is a Senior Lecturer in Human Resource Management and Organisational Behaviour at Durham University, UK. His research focuses on trust repair after organisational failures, as well as trust-building across cultures. Together with his co-author on this report, his most recent co-edited book is Organizational Trust: A cultural perspective (Cambridge University Press). Dr Nicole Gillespie is a Senior Lecturer in Management at the University of Queensland, Australia. Her research focuses on building, repairing and measuring trust in organisations and across cultural and professional boundaries. In addition, Nicole researches in the areas of leadership, teams and employee engagement. Acknowledgements The authors would like to thank the contact persons in the featured organisations for their comments on an earlier draft of this Paper. The IBE is particularly grateful to Severn Trent and BAE Systems for their support of this project. All rights reserved. To reproduce or transmit this book in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage and retrieval system, please obtain prior permission in writing from the publisher. The Recovery of Trust: Case studies of organisational...
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...possession. Unity of time means the tenants interest of the property must commence at the same time as other tenants. Possession means that the entire co – owned land is the tenants’ entitlement. Interest means interests held should be the same as the duration and time. Title means that tenants involved should be given a title from the same supplier. Again, we need to understand the sort of co-ownership we are dealing with here before advising the parties. There is a slight hope that we are dealing with joint tenancy as all four unities are present in this scenario. However, there are pros and cons of being a joint tenant, one of which is severance. One of the methods of severance is by notice. This is found in the case of Re Draper and Harris v Goddard . Both cases indicated immediate intention to sever by notice. The first instance of severance in this situation is when Brad wrote a notice of immediate severance stating that he intends to sell the house. Under s36 (2) of the Law of Property Act 1925 , the law states that “any tenant desires to sever the...
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...Trust: A Concept Analysis The term trust encompasses a wide array of meaning. It can be regarded both as a logical and an emotional act. Trust can be defined as having utter belief in the reliability, ability or truth of any person or thing; it is a state where the acceptance of truth even without evidence or investigations becomes possible (Oxford University Press, 2013). However, according to Merriam-Webster (2013) trust is defined as a guaranteed reliance on the strength, character or the character of any entity. Trust is an utterly important concept, even when considering it from the perspective of the nurse management. As mentioned earlier, trust has an element of emotion and logic in it. It is considered logical where a person perceives the potential gains or losses of putting their reliance on someone, calculating the possible satisfaction derived out of putting their trust into them and only after carefully analyzing all these aspects, then deciding whether or not to trust someone. However, it can be referred as emotional when any entity exposes themselves to others, hoping that rather than taking advantage of their situation, the others would tend to understand their situation and support them open heatedly. There are various dimensions to trust, some of which could be defined under the terms of predictability, delayed reciprocity, value exchange and exposed vulnerabilities. Human beings have a knack of forecasting for their future and in doing so, it is imperative...
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