Free Essay

Sec 320

In: Business and Management

Submitted By rob136
Words 2429
Pages 10
Perimeter Security Applications
Robinson Paulino
DeVry College of New York
Sec- 330
Professor: Gerard Beatty

Perimeter Security Applications
Introduction 2 Intruder Detection Accuracy 3 Security Cameras 4 1. Using Size Filters for Video Analytics Accuracy 4 2. Geo-Registration and Perimeter Security Detection Accuracy 5 3. Clarity against a moving background 5 Perimeter Security Best Practices 6 Auto Tracking PTZ Camera 6 Long Range Thermal Camera 6 Covering Perimeter Camera Blind Spots 7 Determine a Perimeter Camera’s Range 7 Perimeter Fence . 8 Chain-Link Fences Protection 8 Electric and Infrared Fences 8 Fiber Optic Intrusion Detection Systems 9 In-Ground Intrusion Detection Systems 10 References 11

Perimeter Security Applications
Physical security is the protection offered for property, these may be buildings or any other form of asset, against intruders (Arata, 2006). . The idea therefore, is to keep off unwanted persons or objects from ones premises. One’s premise is defined by a boundary which separates private property from the rest of the land. This boundary is referred to as the perimeter.
The perimeter could be physical or logical. Physical security is intended to keep intruders from land and grounds around such property. Logical perimeters on the other hand, are for protection against computer sabotage or any other remote malicious activities (Fennelly, 2012). In a nutshell, perimeter security is being precautious against any form of harm that may be intended against property or even people on that property. If the adversary could be noticed before any harm is done, it would be certainly better. Therefore, in addition to the physical security it is wise to have an intrusion detection system.
Intruder Detection Accuracy Intrusion detection is a process that involves monitoring of the events taking place around and within the boundaries of the property. These events are monitored in search of signs of possible incidents which fall under what is a security violation or possible violation of security. Intrusion prevention is the process of performing intrusion detection and attempting to stop detected possible incidents. Intrusion detection and prevention systems (IDPS) are primarily focused on identifying possible incidents, logging information about them, attempting to stop them, and reporting them to security administrators. In addition, individuals and organizations use intrusion detection and prevention systems for other purposes, such as identifying problems with security policies, documenting existing threats, and deterring individuals from violating security policies. While defining what intrusion detection systems are, it would make sense to describe what they are not and what they cannot do. Intruder detector systems do not prevent any form of intrusion. They do not prevent any kind of destruction caused by the intruder. They do not prevent malicious entry and destruction of systems put in place either.
Their main function is to detect an intruder just as the name clearly states. Their function is to detect an intrusion once and when it happens. In essence, they are analogous to a burglar alarm in a house. Such an alarm can trigger an immediate response e.g. call the police; can be used to alert the owner that unauthorized behavior is taking place.
It is therefore, of immense importance to ensure that the information collected is accurate and will not send security agents on a wild goose chase. In reference to perimeter security and intrusion detection, security devices like cameras, in ground intrusion detection systems and electric and infrared fences are used to a large extent.

Security Cameras
Accuracy in intrusion detection could be ascertained through:
1. Using Size Filters for Video Analytics Accuracy
Perimeter cameras that use video analytics are designed to detect movement. However, there is a lot of movements outdoors. There are birds flying around, small crawling animals, and trees swinging in the wind or even papers whirling in the wind. This could cause a lot of security alerts happening every so often causing nuisance and little or no trust in the system. The key to accurate detection, outside in the open, is to figure out the precise location of the moving object and then determine its size. This is done using cameras that are set to map their field of view to the GPS coordinates of all points in the scene (Philpott & Einstein, 2006).
. Such GPS Analytics are used to set accurate size filters and get rid of movement that has no representation of a security concern – like birds or flying papers – while ensuring that all human-sized motions are detected .Accurate size filters are above all important over extensive areas usual of site perimeters, where small objects near the camera look way larger than a human moving far off in the distance.
2. Geo-Registration and Perimeter Security Detection Accuracy
Geo-registration provides a number of additional benefits. These include the ability to automatically steer cameras to an intruder’s precise location, and to display the detected targets onto a sitemap of the premises so that the intruder is followed in real time. Geo-registration also enables a three-dimensional capability for the smart cameras. They can determine the actual size of any moving object anywhere in the field of view. Accordingly, these cameras that are Geo-registered will detect man-sized objects anywhere within their field of view, and ignore any other movements close or away from the camera.
3. Clarity against a moving background
Video analytic cameras placed outside have to identify security violations against the moving backdrop. The cameras must ignore any movement or reflection. This will ensure that they capture important images like a human being passing by. Failure to do so, the alerts made by the system will be nuisance and a failure to respond to the system as time goes. Filtering such movement is best accomplished with on-board processing and video memory buffers for making the right determination. This is no easy task, given that the cameras capture a lot of data in real life time. A camera with a large memory is required so that it has enough space to capture real time events and past events (Philpott & Einstein, 2006). This would help to make out what movements warrant an alarm and which are to be ignored. Without sufficient on-board processing and video analysis memory to filter non-important motion, such an environment would most likely be overwhelmed with nuisance alerts.
Perimeter Security Best Practices
Outlined here under are some of the perimeter security best practices when using cameras for security detection.
Auto Tracking PTZ Camera
An automatic PTZ camera, unlike the ordinary PTZ camera, automatically zooms and tracks the intruder in real time. This kind of camera requires no manual steer. It makes it easy for use on large perimeters. It is fitted with a thermal sight sensor that is used to locate the intruder while still in watch over the perimeter, and zooming in the intruder in real life.
Long Range Thermal Camera A long range thermal camera with video analytics offer significant economic advantages for perimeter security application covering large outdoor areas. To leverage extended range products effectively, it is vital to consider a number of best practices of product selection and deployment. With the right approach, the resulting cost savings now make accurate thermal analytic cameras affordable for mainstream perimeter applications. Great camera range brings in the possibility of less expensive mounting options. With a long range, the camera could be placed in a far distance and yet capture the whole scenery (Philpott, & Einstein, 2006).
In addition, waterside applications pose even larger obstacles for mounting cameras because one cannot put poles in the middle of an active waterway. In such cases, such as protecting ports or dams, longer-range cameras allow for achievement of security objectives in a practical, less costly manner.
Smart perimeter cameras are designed to detect movement, but outdoors everything moves. There are birds flying around, small crawling animals, and trees swinging in the wind or even papers whirling in the wind. This could cause a lot of false alarms. False alarms are a nuisance. This translates to little or no trust in the system. The key to accurate detection out in the open is to figure out the precise location of the moving object and its size determined.
When using longer-range cameras, it is important to know the actual size of all objects in the camera’s field of view, which can be achieved through GPS analytics. By knowing the precise location of the target, one can accurately measure the size of the target. Appropriate size filters are then applied to eliminate movement that does not represent a security concern, while still detecting security intrusions under all conditions (Philpott & Einstein, 2006).
Covering Perimeter Camera Blind Spots
Perimeter blind spots are areas within the perimeter that are not covered by the long sight of the cameras. To ensure that there are no blind spots in a perimeter, the cameras must be set in a way as to overlap each other’s area of coverage. This ensures that no space is left in the dark. This is a zero blind spot strategy. A site survey can be used select the camera with the right lens and to help place the cameras in position as to avoid blind spots. (Philpott & Einstein, 2006).
Determine a Perimeter Camera’s Range
A perimeter security system based on video analytics operates by “seeing” targets that move into a camera’s detection area. It so happens that the detection range of a camera more often than not, does not match the specifics published by the manufacturer. Therefore, it is the task of the integrator to find out the camera’s range and then design a dependable system that would have no blind spots. It is also essential that the distance by which a camera can automatically detect a person walking directly towards it is discovered.
Perimeter Fence A perimeter fence is a structure that goes around the perimeter of premises to prevent access or intrusion (Fennelly, 2012). These fences are of different kinds, specific to what they are made of.
Chain-Link Fences Protection
Chain-link fences are the most common perimeter fences as they are easy to construct, not expensive and durable while serving the purpose of keeping people in or out of a given area. Chain-link fences can be used for animal pens or even caging ball courts to avoid interfering with passerby. The chain link varies in size, making it easy to serve different purposes. A chain link fence could be made obstructive to climbing intruders by adding barbed wire on it.

Electric and Infrared Fences
An electric fence is a powerful intruder deterrent, which can be attached to an existing perimeter fence or used as a stand-alone fence. The obvious physical presence of the fence and bright yellow warning signs are visually off-putting to any potential intruder and present a potent front-line deterrent. Any attempt to cut or climb the fence is met by a non-lethal but very unpleasant shock and attempts to short circuit, reduce the voltage or breach the fence in any way generates an immediate alarm.
Fiber Optic Intrusion Detection Systems
The intrusion detection system used in this work is based on the Microstrain Locator Technology as applied to fence perimeter applications. The Microstrain Locator is based on the use of a bidirectional Mach Zehnder (MZ) as a distributed sensor to detect and locate an intrusion anywhere along its sensing arms. The deployed sensing system consists of an industrial computer which houses a highly coherent 1550nm laser source. This laser injects continuous wave counter-propagating light into the MZ. Two detectors with associated electronics, also housed in the sensing controller, receive the clockwise and counter-clockwise signals from the MZ to analyze the signals. The sensing controller also includes polarization controllers to maximize the MZ’s fringe visibility and optimize the location accuracy by actively compensating for changes in fiber birefringence (Bucaro et al., 1977).
Detection of an event is based on analyzing the interferometric signals, while an event’s location along the sensing length is resolved by measuring the time difference between received counter propagating signals. Additionally, using the event signals detected by both detectors it is possible to apply the appropriate signal processing techniques to classify the signals and perform both signal identification and signal discrimination.
A novel adaptive level crossings algorithm has been described to achieve nuisance alarm suppression and simultaneous signal recognition and event discrimination in a fiber optic intrusion detection system (Giallorenzi, 1985).
By measuring and analyzing the level crossings (LC) of a number of different intrusion and nuisance event signals obtained from a number of installed Locator systems in the field, it has been shown that the LC algorithm can form the basis of both event signal recognition and discrimination techniques for reducing nuisance alarm rates, as well as detecting intrusion events during torrential rain periods on fence-mounted fiber optic intrusion detection systems without compromising sensitivity.
In-Ground Intrusion Detection Systems
Optical fiber sensors are now used in a large variety of diverse applications, from static and dynamic strain sensing, to chemical and biological sensing (Giallorenzi, 1985). It is well recognized that optical fibre sensors have many desirable attributes which are advantageous with respect to other sensing methodologies. These advantages include greater sensitivity, reduced size and weight, and immunity to electromagnetic interference (Giallorenzi, 1985).
The use of optical fibre systems is increasing in some security applications however, for both transmission of information as well as for sensing applications, since these systems are immune to electromagnetic interference, and offer faster data transmission rates (Bucaro et al., 1977).
With an in-ground intrusion detection system, one can detect and locate intrusions on large perimeters and borders. The fiber optic cable is buried in gravel, detecting and locating any intrusion to within a hundred yards regardless of the perimeter length. It prevents nuisance alarms, while maintaining maximum sensitivity to legitimate intrusion events.
Arata, M. J. (2006). Perimeter Security. Maidenhead: McGraw-Hill.
Fennelly, L. J. (2012). Effective Physical Security (4th ed.). Boston, Mass: Butterworth-Heinemann.
Giallorenzi T. G. (1985) Optical Fiber Sensor Technology. in Proc. IEEE 1985 International Electron Devices Meeting 31, p. 116.
Philpott, D., & Einstein, S. (2006). The Integrated Physical Security Handbook. Arlington, Va.: Homeland Defense Journal. Bucaro J. A., Dardy H. D., Carome E. F. (1977). Optical Fibre Acoustic Sensor. Applied Optics 16 (7), 1761-1762.
Philpott, D., & Einstein, S. (2006). The Integrated Physical Security Handbook. Arlington, Va.: Homeland Defense Journal.
Tyska, L. A., & Fennelly, L. J. (2000).Physical Security: 150 Things You Should Know. Boston: Butterworth-Heinemann.





Top of Form
Bottom of Form

Similar Documents

Premium Essay

Sec 320 Week 1 Assignment

...Week 1 assignment 1) Threat, risk, hazard, and peril all fall under the same category but have different meanings. A threat is an intention of causing harm. A risk is a situation with possible danger. A hazard is danger or risk itself. Peril is severe and abrupt danger. I will build a scenario to show the use of these words in proper context. A military network does not have a physical firewall nor a software based antivirus. The threat is other countries wanting to inflict damage to this military base via cyber warfare. The risk needs two things, the threat which we just established, and vulnerability which is the lack of security measures in place within the network. The hazard is the danger of crippling the military network and or the sensitive information being lost to the attackers. The network is now under a denial of service attack inflicted by hackers from North Korea. The network is now under Peril. Overall these words are sometimes used in place of each other even though they have a specific context that they should be used in. 2) There are many things that are considered threats, risks, hazards, and perils in my organization. Working on a military base presents a great amount of these things. Our Security team must prepare to defend the environment from the threats of terrorism, active shooters, natural disasters, cyber-attacks, and more. They have a constant risk of personnel getting killed, buildings getting destroyed, and information getting stolen. The......

Words: 619 - Pages: 3

Premium Essay

Cost of Capital for Coff Computer, Inc.

...The Cost of Capital for Goff Computer, Inc. BUS650: Managerial Finance (MAH1209A) Dr Charles Smith March 18, 2012. The Cost of Capital for Goff Computer, Inc.: 1. Most publicly traded corporations are required to submit 10Q (quarterly) and 10K (annual) reports to the SEC detailing their financial operations over the previous quarter or year, respectively. These corporate fillings are available on the SEC Web site at Go to the SEC Web site, follow the “Search for Company Filings” link, the “Companies & Other Filers” link, enter “Dell Computer,” and search for SEC filings made by Dell. Find the most recent 10Q and 10K and download the forms. Look on the balance sheet to find the book value of debt and the book value of equity. If you look further down the report, you should find a section titled either “Long-term Debt” or “Long –term Debt and Interest Rate Risk Management” that will list a breakdown of Dell’s long-term debt. Answer:          The book value of a company's equity is the same as stockholder's equity, which can be computed by subtracting the total value of liabilities from total assets. (Total Assets) = (Total) Liabilities + Stockholder's Equity (book value of equity). Stockholder's Equity (book value of equity) = Total Assets –Total Liabilities. The book value of the company’s liabilities and equity was found from the site . I found Dell’s Form 10K, dated January 28, 2011, and snap shot is attached here with.......

Words: 1887 - Pages: 8

Free Essay


...Perceptual Map Situation Analysis The Situation Analysis will help your company understand current market conditions and how the industry will evolve over the next eight years. The analysis can be done as a group or you can assign parts to individuals and then report back to the rest of the company. An online version of the Situation Analysis is available in the Getting Started area. (customers want better performing products) and for size is -0.7 (customers want smaller products). At the end of Round 1 the center of the Traditional segment will have a performance of 5.7 and a size of 14.3. 5.0 + 0.7 = 5.7 and 15.0 - 0.7 = 14.3 Table 2 displays the segment center locations at the end of each round. Print the Perceptual Map Form in the Industry Conditions Report then use Table 2 to find the location of each segment center for Rounds 1 through 8. Mark the approximate locations on the form (see the example in Figure 1). Remember, the locations in Table 2 are the centers of the segment circles, not product positions. Product positions are reported on page 4 of The Capstone Courier. The exercises require two reports: The Industry Conditions Report and The Capstone Courier, which are available from the website’s Reports link. The Courier is also available from the Capstone Spreadsheet’s Reports menu bar. The Courier available at the start of Round 1 displays the results for Round 0, when all companies are equal. If you access the report from the website, use the Round 0...

Words: 2822 - Pages: 12

Premium Essay

Getting Started with Research Cases

...resources available for you to conduct research, download financial statements, and increase your general knowledge about current accounting issues. In Cases 2 and 3, you will solve unstructured problems like you will do in the real-world. 2. HOW DO I USE THE DATABASES? Download the Accounting Research Handbook that is now available on WebCampus. Included in this booklet are detailed instructions on how to use these databases. This handbook will give you enough information to get you started. (The following pages may be turned into me – you do not need to type up your responses in a separate document. If you are working with a partner, make sure BOTH of your names appear on the assignment). ACCOUNTING RESEARCH CASE 1 – PART A: SEC EDGAR DATABASE This first exercise involves EDGAR, the SEC’s database. You will use EDGAR to find out information about one company. Your company is based on the first letter of your last name. Using the table below, determine which company you are assigned. At the EDGAR home page (, go to “Company Filings Search” under the heading “Filings.” On the new screen, search by company name (EDGAR is picky about the exact form of the company name, so you may want to click the “contains” button.)...

Words: 1137 - Pages: 5

Free Essay

Google's Business Case encapsulated in the SEC filing statement “to organize the world’s information …. and make it universally accessible and useful”. Google explains that it believes that the most effective, and ultimately the most profitable, way to accomplish our mission is to put the needs of our users first. Offering a high-quality user experience has led to strong word-of-mouth promotion and strong traffic growth. Read further details on the culture and ethics of Google in their Ten Things Manifesto. Notable tenets of the Google philosophy are: Focus on the user and all else will follow. It's best to do one thing really, really well. You can make money without doing evil (the founders are well known and chastised for making this statement). Putting users first is reflected in three key commitments illustrated in the Google SEC filings: “1. We will do our best to provide the most relevant and useful search results possible, independent of financial incentives. Our search results will be objective and we will not accept payment for inclusion or ranking in them. We will do our best to provide the most relevant and useful advertising. Advertisements should not be an annoying interruption. If any element on a search result page is influenced by payment to us, we will make it clear to our users. We will never stop working to improve our user experience, our search technology and other important areas of information organization”. In the Google Annual SEC filings (the best......

Words: 410 - Pages: 2

Premium Essay

Unit 9 Assignment: Case Study

...Course: LS311: Business Law I Instructor: Prof. Jeffery Hazard Unit 9 Assignment: Case Study Name: Bridget Okpobia Date: 12/19/2012 This essay will explain the following four questions. First, would registration with the SEC be required for Dakota Gasworks securities? Second, Did Emerson violate Section 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5? Third what theory or theories might a court use to hold Wallace liable for insider trading? Finally, under the Sarbanes-Oxley Act of 2002, who would be required to certify the accuracy of financial statements filed with the SEC? Would registration with the SEC be required for Dakota Gasworks securities? Why or why not? Reliant Energy has registered securities and faces a takeover attempt, or third party tender offer, then the SEC’s tender offer rules will apply to the transaction. The filings required by these rules provide information to the public about the person making the tender offer. The company, Dakota Gasworks, is experiencing the takeover so they must file with the SEC its responses to the tender offer. These rules set time limits for the tender offer and provide some protection to shareholders. Did Emerson violate Section 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5? Why or why not? Moreover, Emerson did violate rule 10b-5 of the Securities exchange act, in where it protects against insider trading; which is the purchase or sale by person with access to information not......

Words: 576 - Pages: 3

Premium Essay

Commerical Law Exam 1

...CH. 32 1. Know the term fiduciary in the context of agency, and the requirements of a fiduciary relationship. “the fi duciary relation [that] results from the manifestation of consent by one person to another that the other shall act in his [or her] behalf and subject to his [or her] control, and consent by the other so to act.” When used as a noun, it refers to a person having a duty created by his or her undertaking to act primarily for another’s benefi t in matters connected with the undertaking. When used as an adjective, as in the phrase fi duciary relationship, it means that the relationship involves trust and confi dence. 2. Know the criteria used by courts to determine a worker's status as employee or independent contractor. Why does this determination make a difference? How much control does the employer exercise over the details of the work? Is the worker engaged in an occupation or business distinct from that of the employer(If so, this points to independent-contractor,) Is the work usually done under the employer’s direction or by a specialist without supervisionDoes the employer supply the tools at the place of work? (For how long is the person employed? What is the method of payment—by time period or at the completion of the job? What degree of skill is required of the worker? ( 3. Know the 4 ways an agency relationship can be created. An agency relationship can arise in four ways: by agreement of the parties, by ratifi cation,......

Words: 2988 - Pages: 12

Free Essay


...The Gekko was used influence tactic to Bud in the movie. Such as influence tactic about the film is push pressure tactic, upward appeal, exchange, pull the inspirational appeal, pull the personal appeal, pull ingratiation, and pull conclusion. The first influence tactic type was pushed the pressure Bud. For example, Bud had a lot of responsibility. Gekko pressured him to find out insider information that he needed to make specific decisions. Without those information, Gekko was not happy because he didn’t generate money from it. The second influence tactic types were upward appeal. Bud’s didn’t report anything to his boss. Also, Bud provides Gekko some inside information. For example, Bud pitches him stocks, but is unimpressed. Desperate, Bud provides him some inside information about Bluestar Airlines. The third influence tactic types were exchange. When began Bud told to him inside information, so Gekko wants Bud to spy on British CEO. Because he wants to make big money, if Bud don’t want to join him. Bud will be lose anything. The four pull influence tactic types was inspirational appeal. Just like movies Bud always looked up to Gekko before even meeting him. He aspired to be as successful as Gekko was in Wall Street. Because of this, Bud was easily influenced to go against his father’s beliefs became of he will success from knowing inside information. Bud would stop at nothing to impress the one who inspired him. The influence tactic types were pulled personal...

Words: 421 - Pages: 2

Free Essay

Chapter 4 Albert

...1. Identify the ethical and legal issues of which Albert needs to be aware. There were many ethical issues within this case study. They included: * Albert and his wife took advantage of the “players” at the parties they attended. Seeping information from them while they were intoxicated. Soon both of them started to use this strategy to increase their profits and build upon their portfolios. * Albert and his wife used their uncle, a janitor to gain information from the law offices he cleaned to gain information on companies. With this information Albert and Mary had an inside track in the market. * Barry putting Albert or Mary’s trade before the client order, this is called spinning and is considered unethical. And you have Barry demanding insider information on several companies. * Mary used insider information from her father who worked for a major health care company to initiate a hostile takeover for benefits towards her portfolio and her selected friends and colleges. * Buy stock for boss and boss’s friends, and they’ll give him a bonus. The only legal issue I noticed was the emails that Mary received. 2. Discuss the advantages and disadvantages of each decision that Albert could make and has made. Many advantages were: * Due to the information that he received from the players and his uncle, Albert had inside information which helped him to become successful within the market. * Assisting Barry helped Albert......

Words: 441 - Pages: 2

Premium Essay

Violation of Sec Rule 10-B-5 of the Federal Statue

...Memorandum To: Reader From: Date: July 11, 2014 Re: Violation of SEC Rule 10-b-5 of the Federal statue Summary Aquaman is president of a marine research company called "Underwater Leagues, Inc." On April 1, the research director of Underwater Leagues tells Aquaman that they've come up with "Oxygum," a means of breathing underwater by chewing a special kind of gum. Aquaman knows a great product when he hears it. He delays announcing the invention to the public so that he can buy all the stock he can get his hands on. He buys 50,000 shares of Underwater Leagues, at $10 a share. After the announcement, the share price skyrockets to $50 per share. a) If the shareholders bring a derivative action against Aquaman, what federal law should they accuse Aquaman of having violated (i.e., which federal statute)?  b) Did Aquaman actually violate that statute? Explain.  c) If Aquaman were found to have violated that statute, what remedy would the shareholders be able to seek (i.e., how much money would Aquaman be liable for. Issue First issue: (1) Pursuant to what federal statute would the shareholders claim Aquaman violated, and was he truly in violation of that statute? Rule Section 10(b) of the Securities Exchange Act,  Rule 10b-5, 17 C.F.R. § 240.10b, prohibit any person, directly or indirectly, from committing fraud in connection with the sale or purchase of securities. 17 CFR § 240.10b-5 (2014) is entitled “Employment of Manipulative and Deceptive......

Words: 1473 - Pages: 6

Free Essay

Hr Term

...AIG was at the center of the financial crisis and probably without AIG the subprime crisis would not be as severe as we seen. AIG was used as an instrument to fuel the housing boom. The AIG executives were running the financial product unit ethically but not efficiently. From the email communication one thing is apparent that the executive were very optimistic and they never priced in the risk effectively. The assumption that there will be no calls from counterparties to execute the credit default swaps related to subprime market were not unethical and may have been completely driven by the amount of revenue generated by the credit default swaps for the financial product division. The situation was unprecedented and except very few no one was able to predict the extent of the mortgage defaults in USA. There was lack of the risk assessment standards within AIG that is apparent from the communications. The person who was running the Financial Product division Cassano did very poor job for adapting to the changing market conditions. Again AIG could have limited the losses by pricing the credit default swaps correctly by integrating in it the changing market conditions. If we look at the conduct when it happened the situation did not seem like violation of ethical conduct. Back than when AIG was making big profits no one realized the post effect of the failure of these complex securities and AIG was one of the preferred investments due to performance of its financial product......

Words: 518 - Pages: 3

Premium Essay

Martha Stewart

...Martha Stewart Martha Stewart is an author, editor, and a homemaking advocate. Over the last two decades Stewart has held a prominent position in the American publishing industry. She was the author of several books, hundreds of articles on the domestic arts, editor of a national homekeeping magazine, host for two popular daytime television programs, and commercial spokeswoman for K-Mart (Wikipedia). At the height of her career, Stewart’s success came to an abrupt hault as she encountered many hardships that were responsible for her undesireable reputation and diminished trust in the business world. In December 2001 Stewart held 3,928 shares in ImClone, a New York-based biotech firm. On the morning of December 27, Aliza Waksal, the daughter of the firm's CEO, Sam Waksal, told Douglas Faneuil, the assistant to Stewart’s Merrill Lynch broker, Peter Bacanovic, to sell the ImClone shares in her account. Soon after, Sam Waksal's accountant tried to sell Sam's shares as well. Faneuil told Bacanovic about the Waksals' desire to sell, and Bacanovic quickly called Stewart, leaving a message that ImClone's stock was going to start trading downward. Stewart sold her ImClone shares on the afternoon of the 27th. The following day, December 28th, The Food and Drug Administration reported publicly that ImClone’s promising cancer drug Erbitux was not going to be approved. After the announcement, ImClone’s stock fell sharply and Martha Stewart saved around $45,000 by selling early......

Words: 1445 - Pages: 6

Free Essay

Insider Trading

...controversial and sensitive disclosures for companies to communicate to investors. How your company handles these disclosures can make a strong statement to investors about your company’s transparency. The history of insider transaction disclosure on the Web illustrates companies’ sensitivity and reluctance to provide this information to investors. For years, regulators such as the U.S. Securities and Exchange Commission (SEC) tried to improve transparency around insider trading only to be blocked by heavy corporate lobbying. Eventually, it took massive corporate scandals and collapses in 2001 for the tide to turn against the business lobby. Finally, the SEC introduced rules forcing all U.S. companies to provide access to their insider transaction filings on their corporate websites starting in June 2003. The SEC also dramatically shortened the deadline for insiders to make their filings and made significant improvements to the EDGAR database to accommodate electronic insider reporting. Under the old rules executives had up to 41 days to file reports with the SEC. With the new rules, however, insiders have to file reports by the end of the second business day following the day on which the transaction is executed. Significant geographic differences in insider disclosure Regulators in several countries have followed the SEC’s lead, but with varying levels of effectiveness because most lack a central electronic repository like EDGAR. Consequently, insider transaction reporting......

Words: 2937 - Pages: 12

Premium Essay


...Identify the ethical and legal issues of which Albert needs to be aware- The first ethical issue would be Albert and Marry taking advantage of the players of large organizations by getting them drunk to get information out of them. The second ethical issue is that when Marry lost her job Albert lost a lot of money in high risk markets with his father’s friend’s portfolios. These men were old and that was most likely their retirement fund. Another HUGE ethical and I believe legal issue would be that Albert used his uncle to gain access to law offices and gather information of certain clients and businesses. Mary also used information from her father to help another company take over the one he worked for. Using this insider information is an issue. Legal issues that they face are the emails that marry forwarded with obscene messages and images that caused her to lose her job. As well as Al dealing with blackmail from Barry to give him the IPO information, or else he’ll report him for spinning. Discuss the advantages and disadvantages of each decision that albert could make or has made- Although Alberts and Mary’s use of insider trading made them a substantial amount of money and enhanced their portfolios; it was still illegal and they could both lose their jobs. The same goes for the use of his uncles keys to gain access to certain law offices. A disadvantage from marry forwarding emails would be that she lost her job. The disadvantage of Albert giving into Barry’s......

Words: 404 - Pages: 2

Premium Essay

Professional Research Fasb Codification

...authoritative literature, the fair value of a security is readily available when its specifications meet any of the following conditions (According to FASB ASC 320-10-20 Glossary): I. The fair value of an equity security is readily determinable if sales prices or bid-and-asked quotations are currently available on a securities exchange registered with the U.S. Securities and Exchange Commission (SEC) or in the over-the-counter market, provided that those prices or quotations for the over-the-counter market are publicly reported by the National Association of Securities Dealers Automated Quotations systems or by Pink Sheets LLC. Restricted stock meets that definition if the restriction terminates within one year. II. The fair value of an equity security traded only in a foreign market is readily determinable if that foreign market is of a breadth and scope comparable to one of the U.S. markets referred to above. III. The fair value of an investment in a mutual fund is readily determinable if the fair value per share (unit) is determined and published and is the basis for current transactions. The investment possibilities for Cascade Co are not mutual funds, nor are they foreign markets. In summary, the county bonds and Teton Co. stocks both have readily available fair values if their prices are available through the SEC or in the over-the-counter market. Security Impairment: Cascade Co. should evaluate their debt and equity securities periodically to check for......

Words: 809 - Pages: 4