The Ethicality of an Action Jay Gatsby

Morals is a field of study that characterizes human activities and practices. Researchers have introduced distinctive moral speculations to clarify when an activity ought to be acknowledged or supported. In our cutting edge society, activities are moral or unscrupulous relying upon their implications.Advertising We will compose a custom evaluation test on The Ethicality of an Action Jay Gatsby explicitly for you for just $16.05 $11/page Learn More While that is the situation, almost no exploration has been done to investigate the ethicality of activities performed by characters in works of fiction, for example, movies, books, and network shows. In the book â€Å"The Great Gatsby†, Jay Gatsby chooses to assume Daisy Buchanan’s fault. This occurs after Daisy slaughters Myrtle Wilson. Myrtle was her husband’s â€Å"mistress†. This was one of Jay’s endeavors to win Daisy’s love. Jay and Daisy were sweethearts before he got well off. This paper po rtrays Jay Gatsby’s activity and applies the utilitarian hypothesis to set up whether Jay’s activity was moral or not. Jay Gatsby’s Action As introduced in the novel, Jay Gatsby was attempting to win Daisy back on the grounds that he unequivocally accepted she was the adoration for his life. It was five years after Jay had lost the affection for his life. Simultaneously, Daisy was envious on the grounds that her significant other was occupied with an extramarital undertaking. Accordingly, Daisy chose to slaughter Tom’s special lady in a mishap. The mishap occurred within the sight of Jay Gatsby. On account of adoration and want to rejoin with his darling, Jay wound up in a problem. It was a result of the difficulty that he chose to do anything so as to hold his darling. As portrayed in the novel, it is obvious that Daisy would be in a tough situation after Tom understood that she had executed Myrtle. Too, it gave the idea that Gatsby didn't know of the co nceivable result after the mishap. With such sort of vulnerability and issue, Jay chose to assume the fault for the benefit of her darling. In light of the issue, Jay Gatsby was the prime suspect, something that prompted his passing. Myrtle’s spouse murdered Jay and in the end shot himself.Advertising Looking for appraisal on american writing? How about we check whether we can support you! Get your first paper with 15% OFF Learn More Although the creator of the novel didn't unmistakably clarify why Jay Gatsby acted as such, it would be pleasant that the character was attempting to spare his sweetheart. He was on the way towards accomplishing his fantasies. At that point, Jay Gatsby made certain of a get-together with his sweetheart and nothing was going to remove her from him. His money related position and riches gave Jay the boldness to assume the fault. He was idealistic that he would manage the issue later. Be that as it may, Jay’s endeavor to rejoin with Daisy is the thing that prompted his demise. Surveying the Action Using Mill’s Utilitarianism John Stuart Mill is one of the moral scholars who introduced the hypothesis of utilitarianism. As indicated by Mill, utilitarianism is the thing that oversees human practices, activities, and thoughts. Utilitarianism underpins â€Å"actions that will result in happiness†. Also, an activity is â€Å"wrong† in the event that it results in something contrary to satisfaction to the individuals. Mill’s utilitarian hypothesis can be utilized to survey the morally of Jay Gatsby’s activity as introduced in the conversation above. This hypothesis is relevant here in light of the fact that it determines whether the activity embraced by Gatsby is moral or not. There are different advances associated with applying the hypothesis to a circumstance or activity. As portrayed by Mill, the essential thought behind the hypothesis is the â€Å"happiness principle†. That being the situation, an activity is â€Å"right† just it brings about satisfaction. On the other hand, activities aren't right in the event that they don't advance human satisfaction. The hypothesis characterizes â€Å"happiness as the nonattendance of torment or pain†. Then again, the hypothesis characterizes despondency as â€Å"the nearness of suffering†. With such contemplations, it tends to be simpler to set up whether an activity is allowable or not. The utilization of the above advances assists people with separating between a decent and a terrible activity. An activity is â€Å"good† on the off chance that it brings about joy. It very well may be simpler to utilize Mill’s utilitarian hypothesis to survey Jay Gatsby’s activity and close whether it is exploitative or moral. From the book by Scott Fitzgerald, it is prominent that Jay Gatsby chose to accept Daisy as his own in spite of the way that she was at that point in marriage. As per uti litarianism, Jay’s activity doesn't bring about satisfaction. Daisy’s spouse and others in the general public become harsh after the event.Advertising We will compose a custom appraisal test on The Ethicality of an Action Jay Gatsby explicitly for you for just $16.05 $11/page Learn More As well, Gatsby chooses to assume the fault for Myrtle’s passing. As indicated by the utility hypothesis, an activity is acceptable just on the off chance that it advances satisfaction. Be that as it may, Gatsby’s choice to do so doesn't deliver any bliss at the end. Rather, George Wilson executes Gatsby in the wake of speculating that he was the one having an extramarital illicit relationship with his significant other. Subsequent to murdering Gatsby, George shoots himself along these lines â€Å"causing pain†. From this novel, it is apparent that such passings would not have happened if Gatsby didn't attempt to rejoin with Daisy or assume the fault for Myrtle†™s demise. From the above conversation and utilization of Mill’s utilitarian hypothesis, it is pleasing that Jay Gatsby’s activity as introduced in the novel is deceptive. This evaluation on The Ethicality of an Action Jay Gatsby was composed and presented by client Giselle Daniels to help you with your own examinations. You are allowed to utilize it for examination and reference purposes so as to compose your own paper; be that as it may, you should refer to it in like manner. You can give your paper here.

Impact of IT on Individuals, Communities and Society

Effect of IT on Individuals, Communities and Society Since its beginning, IT has substantially affected the world. The capacity to get to data at the pinch of a catch has changed the manner in which we learn. Instruction and Training have never been the equivalent, before the beginning of the web. Be that as it may, the entirety of this isn't as astounding as it initially appears. Vindictive clients wander the most distant scopes of the web attempting to take people groups bank subtleties, kid erotic entertainment locales taken cover behind intermediaries and VPNs somewhere down in obscurity net, even illicit medication and weapon deals. Web based Shopping Web based shopping is an astonishing innovation since its introduction in 1979 by Michael Aldrich. Michael Aldrich associated a 26 hued buyer TV by a phone line to a continuous exchange preparing PC. He called his new innovation mail order shopping, this is the progenitor to our web based shopping today. It even permits individuals who cannot leave their homes, for example, crippled individuals, older individuals, single guardians thus considerably more. In any case, this gift from heaven isnt as splendid for nearby retailers all things considered for purchasers; it can leave neighborhood economies pulverized as individuals that used to be steadfast clients move to administrations like Amazon and ASDA Direct. Not everything is the means by which it appears. Albeit web based shopping can be open by numerous individuals, many individuals still dont approach it. 21.6% of UK inhabitants dont have normal access to the web. This has become an issue for some rustic regions of the UK that appear to be ignored by ISPs (Internet Service Providers), low pay territories additionally appear to have a littler percent of online movement. In 2015 the UK government attempted to battle this issue by passing a bill that was proposed to give everybody in any event 15 mbps (megabits every second) web access for nothing. As of February 2017 the bill has vanished. Extra time The manner in which we invest our free energy has changed definitely in the course of the most recent few decades. From the beginning of internet based life to the creation of complex graphically extreme computer games our selections of media utilization during our available time has tremendously expanded since the absolute first business PCs were produced.ã‚â Websites like Twitter and YouTube have become the spots where most will invest their free energy. This has caused content makers usually alluded to as YouTubers, to get by. Some even gotten moguls. Computer games have likewise gotten one of the most well known types of people groups spend times, over 33 million out of the UKs 64 million occupants play computer games every day. That is generally 51% of the all out crowded, over half! So its nothing unexpected that the British games showcase merits an astounding  £4.193 billion starting at 2015. Spilling sites are additionally among the most well known for web clients, they represent generally 60% 70% of web traffic. They stream recordings and other media like music to their clients, probably the most much of the time visited sites for gushing include: Netflix, Amazon Prime video and music, Spotify and Crunchyroll An anime spilling site. Correspondence Correspondence inside the IT business has molded how we as a whole convey every day. From Emails to Short Message Service (SMS), day by day correspondence has immeasurably transformed from the times of letters and wires; this is because of the wide selection of PCs and cell phones. This has just improved as innovation has progressed to the web inconceivably improved what cell phones could do consequently permitting us to impart in better and quicker manners. With the development of 3G (short for third Generation, concerning it being the third cycle of remote versatile technology).ã‚â Users could ride the web from their gadgets. This recently discovered innovation made ready for cell phones, has the innovation improved with H/HSDPA (High-Speed Downlink Packet Access) offering a hypothetical 7.2 mbps association speed and later H+HSPA+ (Evolved High-Speed Packet Access) offering a madly quick hypothetical speed of 168 mbps. Lawful Impacts Its lawful effects have consistently been begging to be proven wrong, regardless of whether it was the capacity to duplicate games from tape to tape or the abrupt boundless access to plentiful measures of data that originated from the fantastic creation that is the web. So as to secure people groups information and data, numerous legislatures around the globe executed improved copyright and counterfeiting laws. In the UK this law is known as the Copyright, Designs and Patent Act 1998. Law sets down establishments to help copyright and patent holders to make legitimate move again the individuals who take their works. Hacking, Fraud and different malevolent acts additionally joined the beginning of generally accessible PCs. The UK government passed the Computer Misuse Act 1990, this bill illustrated the dos and donts with regards to PC use; getting to a PC without authorization is viewed as a wrongdoing under the Computer Misuse Act. Ââ ã‚â Moral Impacts The moral effects of IT for the most part from the consistent documentation of our data from administrations, for example, Google and Amazon has been a warmed theme for quite a long while. Would it be a good idea for us to permit such administrations to store our own data and data about things we like or search regularly? Despite the fact that there are numerous advantages in permitting such data to be put away which can assist with shaping calculations to more readily improve our online encounters with web crawlers and online shops. This can permit administrations, for example, Amazon target explicit promotions to be appeared to us dependent on our inclinations and to have items prescribed to us dependent on our past buys. Notwithstanding, if this data were to arrive at an inappropriate hands, for example, a fraudster, it could be very hazardous to the clients whom information has been taken. Another moral inquiry that comes to play with its utilization is for the individuals who dont approach fast web that may of us underestimate. For example, numerous individuals who live in provincial regions of the UK dont approach broadband because of the tremendous separation among them and the phone trade. Sometimes, in any event, attempting to introduce links for provincial zones are only incomprehensible because of the significant expense and low prize part of the zone. For a broadband organization it is increasingly gainful to put costly fast links in thickly populated urban territories since the tremendous measure of clients would permit the organizations to recuperate their speculations a lot snappier. There are answers for this in any case, numerous versatile correspondence systems have begun giving 4G web access to the individuals who cannot gain admittance to the web or who have rather feeble associations. More often than not these arrangements rush to set up anyway the 800 Mhz (megahertz) recurrence band, recently utilized for simple TV, utilized by most media transmission organizations despite the fact that has far reach because of its little frequency this has the negative impact of not being able to transmit as much information as a fiber optic cabling. Life before PCs As much as it is hard for a few of us who have grown up with and around this stunning innovation, we should not overlook that PCs have not generally been near. Much prior variants of cameras have been around longer than PCs. Computer games, Instant informing, Email, DVDs, Cassettes, Laserdiscs: There was the point at which these werent even idea of. A period of papers and radio, vinyl circle and Classic music and Jazz. Going outside to play with companions, working for a sixpence, 240 pence to a pound, before the times of post decimalisation. I got some information about what it resembled growing up, what she would have jumped at the chance to do when she left school. Finding a new line of work as a typist working for the Ministry of Defense (MOD) was probably the flashiest activity for ladies to get, everybody needed it. Supportability The supportability of our cutting edge mechanical position has been an inquiry for a long time. What would we be able to do to help protect our condition and continue our present way of life? Reusing our old equipment and reusing the valuable metals inside them can help us since it utilizes less vitality to recover these metals than it does to mine and refine them. Another preferred position to this is metals are likewise a limited substance and we just have a set measure of it. Moving to a progressively maintainable vitality source to control our homes and gadgets is likewise a fundamental method to be stainable. Sun powered, wind and atomic vitality are the present contender for us to supplant our reliant on petroleum products. Each of the three of these present a positives and negatives yet one thing they all share for all intents and purpose is their measure of contamination they produce or need there of. PAGE 1 OF YOUR BLOG: Comprehend the effect of IT on people, networks and society. Effects Social Impacts How we invest free energy. Impacts on neighborhood networks PAGE 2 OF YOUR BLOG: Monetary IMPACTS Business structure and working practices. Manageability. PAGE 3 OF YOUR BLOG: Legitimate effects Possession, copyright and literary theft PAGE 4 OF YOUR BLOG Moral effects Security of data PAGE 5 OF YOUR BLOG Movement from page 23 Life before PCs examine and review in your own words.

6 Simple Steps to Create an ADHD-Friendly Filing System

6 Simple Steps to Create an ADHD-Friendly Filing System Creating a filing system that stores your paperwork will make you feel confident that you can find all your important documents quickly and easily. This might seem obvious to someone who doesn’t have ADHD; however, when you are living with ADHD, paper piles, fear, and anxious searching often go hand in hand when you are looking for a particular piece of paper. Setting up and maintaining a filing system that gives you peace of mind is time well spent. One thing that stops people with ADHD from setting up a filing system is that it can feel overwhelming. Creating an ADHD-Friendly Filing System   So here are 6 simple steps for creating an ADHD-friendly filing system. Pick a filing cabinet that you like.  You will be much more likely to use a filing system if you like how the cabinet looks. Pick one that fits in with your home decoration and personality. If you aren’t sure how many drawers you will need, create a practice system using bankers boxes. Put your hanging files in the boxes and test it for 1 or 2 months before investing in a piece of furniture. Hanging folders.  Every filing system needs hanging folders. Have one hanging folder per topic, for example, Bank statements 2016.  The relevant documents can go straight into the hanging folder; they don’t need to go into a separate folder first. Labels.  Label each hanging folder clearly. You could write your labels, print them or use a label maker. If you can’t read the label or forget to label a folder, it is easy to put the documents in the wrong place and then the filing system stops being helpful. What you write on the label is your choice. Do it in a way that makes sense to you so you can find what you are looking for quickly. For example, you might write ‘bank statements,’ the name of the bank or something else that is meaningful to you Organizing the folders.  Having ADHD means your thinking is creative rather than linear, and how you organize your filing cabinet can reflect that. Your filing system doesn’t have to be alphabetically organized! You might decide to group all your finance folders together, all your health folders together or in another way that feels logical to you.   Use color.  Using color in your filing system is a great idea. People with ADHD are very visual, so using brightly colored hanging folders will make your filing system more appealing. If you group similar items together in the same colored folders, it will also help you find things quickly too. For example, you could have all red folders related to financial topics. Keep the folders streamlined.  Don’t overstuff your folders! Oversized folders will make it harder to use the filing system because it will be difficult to add new documents. As a result, you might be tempted to stop using the filing system.   If your folders are getting big, here is what to do: Shred documents you no longer need. Check out this article for details on how long to keep each document.Divide the subject into smaller topics. For example, instead of putting all your tax files into a single folder labeled ‘Taxes,’ create separate folders for each tax year (e.g., Taxes 2016, Taxes 2015, Taxes 2013)  Only put important papers into the folder. For example, when you receive a bill, put the bill into the folder after paying it, but do not put the envelop it came in as well.

Extegitcal Essay example - 716 Words

â€Å"For this reason†, â€Å"is an expression that is repeated from verse 1 when Paul was about to pray. He then broke off before finishing the sentence in order to elaborate on the mystery, the body of Christ, and on his ministry of dispensing the mystery. † Paul shows us the message of Christ through demonstration and oral delivery. He demonstrates prayer by praying for our spiritual well being. Then goes on to explain what prayer is and why it is key aspect of our relationship with God. We are God’s chosen people, we are called to know him more and the way we do that is through spiritual interaction with Christ. In Ephesians 3, Paul emphasis’s on unity. Unity with Christ and the church, we are joined together through Christ and with God’s†¦show more content†¦Ã¢â‚¬Å"Paul is praying for strength, depth, apprehension, and fullness † Authorship is debated but many scholars refer back to the apostle Paul as the author of Ephesians. â€Å"In our consideration of Paul’s life and letters, we have assumed that those letters which indicate Paul was a prisoner when he produced them were written from Rome between A.D.60 and 62.† His imprisonment was caused by racial division between the Jews and the gentiles (IVP.541) The audience of this specific letter was the Ephesians and the church of Ephesus. It is also directed towards the Gentiles and Jews, directing them to act as one. One main tradition was circumcision; unless you were circumcised you were viewed as unclean. There was a great division between Jews and Gentiles. Circumcision is just one example. (IVP pg. 544) The people of Ephesus were well off on their own; they were wealthy, healthy and happy. Ephesus was the most important city in Asia minor, it was next to a great river and Aegean Sea, ( BEB pg. 706) it was a place of commercial trade, running water, some heated rooms .They were wealthy upper middle class people. Paul used a philosophic language along with a persuasive edge in his presentation. As he wrote the letter to Ephesus he used a lot of repetition to emphasize how important the message was. Also his letter has been

Gender, Ethnicity And Socio Economic Status - 1523 Words

Stakeholders The participants from the community were between 16 and 80 years old. The researcher ensured to include a balanced group that covered gender, ethnicity and socio-economic status. Employment status was not a variable used in this study. The researcher used ten jurisdictions nationwide to help ensure coverage of the majority of subcultures within the U.S. population. There were three large police departments, four medium police departments, and three small police departments. The community population corresponded to the size of the department. Each jurisdiction included poor, lower class, middle class and upper class respondents. Other found research studies have only focused on individual jurisdictions and communities or country compared to country (Schuck Rosenbaum, 2005). Those were either too narrow or too broad for the intent of this research project. Research Methods The research involved self-completion questionnaires covering the experiences of police officers and community members within the ten jurisdictions researched. Furthermore, it included rural and urban locations and the target population were those people who had any type of interaction with the police. It was a cost-effective way to obtain a large sample base in a reasonable amount of time. In order to appeal to the entire population, city officials would have to agree to place the questionnaires on the city and police department websites with electronic submission as an option. 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The day the Balloon Popped Free Essays

To them, this situation didn’t have a remote effect on their life, but to me, this caused my whole life to change. Even to this day, every time I am punished, I recall this soul destroying incident. But fortunately I have changed. We will write a custom essay sample on The day the Balloon Popped or any similar topic only for you Order Now Sorry for not introducing myself, my name is Joe Levi, I am the eldest out of three children. I am fifteen years old, very tall and sturdy like my father. I am looked up to by all my siblings and in a way, l lead them through their lives. My role model is definitely my father, part of the reason being that I am known as a miniature him. I have a big sense of responsibility in the family as I am always the first child to do or try out something new. Like every other child, I have my fears but I am much too proud to admit them. Exactly seven years ago, I experienced a day that had great significance to the rest of my life. This is an account on what happened. It was coming up to the big day. This was going to be the first time I had ever slept away from my parents. I was going to be sleeping at my Grandma’s flat in the West End. To me, this was much more exciting than even a holiday. My parents had finally felt that I was responsible enough to stay away from them and be in charge of myself. I was buzzing with excitement. The closer it got, the bigger I felt. I was a balloon being blown up. I felt that I was supreme. Nothing could stand in my way. Until this incidence, I had been a plant, continuously growing upwards towards the sky. My parent’s were always proud of me, academically but more importantly, they loved all my character-traits. My Grandma would be taking me into Central London, and as it was around Christmas time, it would be livelier than ever. I would be going to the Theatre late at night and afterwards, I would be going to a famous Creperie. Nothing could be more exciting. I had thoughts and feelings rushing through my body. The balloon was expanding, getting bigger and bigger. It was three days before the occasion and l had one of my closest friends over at my house. Surprisingly, the Sun was shining and it was a very warm day. So, we decided to have some fun with the sun. We got a big antique magnifine-glass out from the dining room cupboard, then stealing a piece of paper from the printer, we went out into the garden. Using the magnifine-glass, we focused the sun’s rays onto the corner of the piece of paper. Suddenly, the edge of the paper started glowing red. It was fascinating. It continued to glow, but soon became a stronger colour and started spreading exuberantly. Suddenly, the first flame appeared. Wow! It was amazing what the Sun could do to a piece of paper, so far away. I found my dark hazel eyes fixed into the fire and didn’t notice the whole paper bursting into flames. I screamed, my friend screamed. We poured a bucket of water over the piece of paper and put it in the bin. Before we could even open our mouths to let out a sigh or relief, the whole bin set alight. My mum came rushing down the stairs and It was as if the whole situation had combusted. I was terrified. I was frightened. I didn’t know what to say. I didn’t know what to do. I stared at the roaring flames, taking over my life. My mum, who was only ever seen calm, went from blue to red to orange. She went into an explosive mood. After she put out the conflagration and my friend was sent home, I sat next to my inflaming mother. When I heard the punishment that I had been given, I couldn’t believe my ears. The plant stopped growing, the balloon popped. I felt as if I had disintegrated into a pile of ashes. I was as hot as the sun. I still couldn’t believe the cruel, deflating punishment that had been chosen. I thought to myself, what was so bad about what I did? All my friends did it. It was unfeasible to think that something I viewed as so minor, was actually so dangerous and life-threatening. My parents knew how much I was looking forward to staying at my Grandma’s. Tears started pouring down my red eyes and onto my rose cheeks. I felt put down. I felt embarrassed. What would happen when my siblings found out? I thought that they may no longer look up to me. My brain was sizzling, my head was frying. I started bellowing at my evil mother but she didn’t even look at me. I lay in my room, staring outside into the garden, watching all my siblings making snowmen with their friends and having fun snow fights. I started imagining what I could of be doing if I wasn’t punished. I felt completely terrible. I felt as lowly as a worm. I pictured my grandma taking someone else to the theatre, having fun with another person. Anger started building up inside of me. I could feel it spreading throughout my body. It is amazing that, something which has had such a huge long-term impact on me, had been forgotten about an hour after the incident by my parents. I was as hot as hell; however they were as cool as a cucumber. To them, this situation didn’t have a remote effect on their life, but to me, this caused my whole life to progress. Even to this day, every time I am punished, I recall this soul destroying incident. But fortunately I have changed. I now deflate less and less; I stay strong and carry on growing upwards towards the sky. How to cite The day the Balloon Popped, Papers

Nortel Case Report free essay sample

The company also used to be affiliated with ATamp;T/Western Electric until Western was forced to sell its stake in 1949. In 1976, the company changed its name from Northern Electric to Northern Telecom Limited, and shifted its concentration on digital technology. In 1977, Nortel introduced its DMS line of digital central office telephone switches. Nortel ended its long relationship with ATamp;T in 1984, a year after deregulation named. Bell Canada Enterprises the parent company to Northern Telecom. In 1998, the company acquired Bay Networks and changed its name to Nortel Networks. In the late 90’s, Nortel’s sales of fiber optic network gear was predicted to help their sales, but the market became saturated very quickly. At the height of Nortel’s first 100 years the company amassed for more than a third of the total valuation of all companies listed on the Toronto Stock Exchange (TSX), but once the Internet bubble passed, the company fell into ethical debacle. Nortel Networks Corporation, or formally known as Northern Telecom Limited was one of the largest telecommunications equipment companies in the world prior to its filing for bankruptcy protection on January 14th, 2009. During times of functionality, they specialized in multinational telecommunications equipment manufacturing. The company is based in Canada out of Mississiauga, Ontario, Canada. Their biggest rival always was Global System Mobile (GSM). Through the early 1990s, the company invested heavily in Code Division Multiple Access (CDMA) in attempt to grow in European and Asian markets. This did not pan out so well as Nortel’s losses amounted to $27. 3 billion by 2001—causing them to lay off two-thirds of the workforce. From 2000 through 2003 there was a period of fiscal irresponsibility resulting from the work of the company’s administrators. Initially in 2000, they falsified their fourth-quarter earnings by $1 billion to meet market expectations and selectively reversing certain revenue entries. In 2002, administrators discovered $300 million in excess reserves being carried over and swept it under the rug for future benefit in addition to establishing another $151 million in unnecessary reserves. In 2003, administrators directed the release of at least $490 million of excess reserves to boost earning, fabricate profits, and pay bonuses. Losses turned to profits during this year thanks to the shifty methods taking place. Later in that year, administrators mislead investors as to why Nortel was conducting a purportedly â€Å"comprehensive review† of its assets—attributed by restatement $948 million in liabilities. They said restatement was caused solely by internal control mistakes instead of the truth that there was intentional improper handling of reserves which needed to remain hidden. 2 On October 23rd, 2003, the company announced that Nortel would restate its financials for fiscal years 2000, 2001, and 2002. Shortly after this restatement, the major players of Nortel’s administration that were responsible for all of this were exposed through an independent investigation. In March 2004, The CFO and controller were suspended, in addition to the announcement of further restatements and revisions; they were terminated a month later in April 2004. A restatement in early 2005 showed approximately $3. 4 billion in misstated revenues and another $746 in liabilities. In late 2005, Nortel admitted that restatements were the result of management fraud—beginning the downturn of their stock. The company ended up restating financials four times over four years, replacing senior management, and instituting a comprehensives remediation program designed to ensure proper accounting and reporting practices. Eventually on October 15th, 2007, Nortel agreed to settle by paying a $35 million civil penalty and admitting to violations of the antifraud, reporting, books and records, and internal control provisions of the federal securities laws. 2 On June 25th, 2009, Nortel’s price dropped to 18. 5 cents a share down from a high of $124. 0 in 2000. The company decided that month that they would discontinue operations and sell off all of its business units. Nortel’s CDMA wireless business and LTE access technology were sold to Ericsson, and Avaya purchased Nortels Enterprise business unit. Major Players in the Scandal: The major players in this scandal were the four members of the senior management: CEO Frank Dunn, CFO Douglas Beatty, controller Michael Gollogly, and ass istant controller Maryanne Pahapill. CEO Frank Dunn, who is also a certified management accountant. Dunn was mainly involved in the improper use of reserves from 2000 to 2003. CFO Douglas Beatty, controller Michael Gollogly, and assistant controller Maryanne Pahapill were also involved in this management fraud. 2 The Royal Canadian Mounted Police in Toronto arrested ex-CEO Frank Dunn, ex-CFO Douglas Beatty, and former corporate controller Michael Gollogly on seven counts of fraud. Including charges â€Å"fraud affecting public market; falsification of books and documents; false prospectus, pertaining to allegations of criminal activity within Nortel Networks during 2002 and 2003. Magnitude of the financial issue: Nortel at its peak was one of the best companies that Canada had ever seen. Just like ENRON and other financial frauds at the time, Nortel appeared to be a shining example of success in the corporate world. Again like ENRON, Nortel grew through a strategy of aggressive expansion and purchasing of smaller companies in order to create a massive conglomerate. During the good times Nortel was the largest technology company and the most valuable company in Canada. Nortel accounted for over one third of the entire aluation of the Toronto Stock Exchange. The Toronto Stock Exchange is the Canadian equivalent of the New York Stock Exchange and holds the most influential stock market in Canada. Nortel employed about 95,000 employees worldwide. About 26,000 of those workers based in Canada alone. Nortel at one point had a market capitalization of almost C$400 billion. Nortel had set up pensions and healthcare protection for its employees. All of these were lost to either the restructuring under Frank Dunne which left about 60,000 employees without jobs or the bankruptcy that followed in 2009. Canadian government officials and regulators identified how destructive a full failure of Nortel would be on the Canadian economy. The Canadian government through the Export Development Canada project tried to lend money to the falling giant. However the Canadian government could not cover all of Nortel’s debt obligations. Nortel owed about $107 million and the EDC (Export Development Canada) could only supply about $30 million in short term loans. This $107 million interest payment accounted for about 4% of Nortel’s cash and put the company into bankruptcy. The world financial crisis of 2008 had put too much strain on Nortel and they were forced to begin liquidation. Public auditor: The auditors involved with this case were Deloitte and Touche. In documents from the fraud case, which is still being heard by the Royal court in Canada, Deloitte claims that they were not given proper documentation by Nortel. Deloitte claims that they did not have pertinent information which should have been provided by administrators at Nortel. Deloitte raised concerns to the audit board of Nortel in 2003 when Nortel turned a profit after Frank Dunne’s restructuring of the company. Deloitte raised awareness of potential fraud and did their duty in that respect. However further investigation conducted has implicated Deloitte in the financial reporting irregularities in Nortel which some have claimed dates back to the time of CEO Roth who held office before Dunne. Information coming out of the case states that even if transactions were deemed suspicious, they still signed off on the verity of the financial reports. Frank Dunne and some of his officers are now charged with fraud by both the SEC and the OSC which regulate the American and Canadian markets respectively. The case is currently still under review in the Royal court of Canada and civil charges have been brought in the United States. Fraud Triangle Nortel had experienced tremendous growth throughout the 1990s, allowing it to expand operations worldwide. Nortel’s expansion came during the telecommunication and technology bubble of the 1990s that inflated stock prices of companies in those sectors. Frank Dunn had taken over for the previous CEO, John Roth, in November 2001 during the telecommunication bubble bust. Dunn felt pressured to maintain the high stock price because it accounted for over one third of Nortel’s value2. Nortel management was also incentivized to post profits that produced executive bonuses with over $7. 8million going to Dunn alone. The primary members of the Nortel fraud were able to commit the fraud because, as executive officers and controllers, they were able to go around the internal controls of the company. That allowed them to implement many accounting practices that did not comply with GAAP. Nortel management’s rationalization for these fraudulent practices must have been that they needed to maintain the high stock price in order for the company to continue operating. Moral Breach and Ethical Issues As a publicly traded company, Nortel had the responsibility of fairly reporting the company’s true financial data to stockholders and potential investors. Dunn, Beatty, Gollogly and Pahapill breached this responsibility by establishing earnings management accounting strategies to manipulate Nortel’s revenues. Nortel management also actively sought to inflate earnings to trigger very large bonuses for key members of management. Perhaps, if these incentives did not exist then there would be less motivation to commit the fraud. Finally, Nortel’s auditor for over a century, Deloitte and Touche, has come under scrutiny by the defense lawyers in Dunn, Gollogly and Beatty’s civil trial in Canada this year. The defense claims that Deloitte approved of all major accounting adjustments that Dunn and his team had engaged in. Summary of Legal Actions On April 28th, 2004, Dunn and his fraud partners were fired for financial mismanagement2. On March 12th, 2007 the SEC filed civil charges against Dunn, Beatty, Gollogly and Pahapill for repeatedly engaging in accounting fraud to bridge gaps between Nortel’s true performance, its internal targets, and market expectations. Dunn and Beatty were charged with violating the officer certification agreement that was established by the Sarbanes-Oxley Act. Nortel settled with SEC on October 15, 2007 by consenting to be prescribed from violating the antifraud, reporting, books and records, and internal control provisions of the federal securities laws. Nortel paid $35million to the SEC, and $1million to the Ontario Securities Commission to establish a Fair Fund for affected shareholders. Finally, Canadian authorities arrested and charge Dunn, Beatty and Gollogly with seven counts of fraud. Their trial began on January 16th, 2012. Current Status: Nortel, once known as the largest telecommunications manufacturer in the world, filed for bankruptcy in 2009. Now three years later, the period of bankruptcy continues as the company discloses their every operating report highlighting each cash receipt and disbursement. When Nortel went bankrupt, executives believed that selling all business assets would be the best and easiest way to fight debt. Recently, Nortel has netted $7. 7 billion from selling its patents and businesses. As stated on their website, â€Å"Nortel remains focused on maximizing value for its stakeholders, including the sale of its remaining assets, resolution of claims, the wind-down of its global operations and entities, resolution of allocation matters with respect to the sale proceeds, and other significant restructuring activities toward the conclusion of the creditor protection proceedings. † The case for Nortel executives Dunn (ex CEO), Beatty (ex CFO) and Gollogy (ex controller), who were charged with fraud for affecting the public market and falsifying books and documents to earn larger bonuses, is still in trial. In February, a former Vice President of Nortel testified in court against executives stating that they had asked him to use questionable accounting methods to manipulate the company’s earnings. Although those who committed the crime have been charged, thousands of employees will still be left without pension plans and jobs. Nortel has spent over $20 million on retirement package these past two year, but unfortunately the company will stop the pension plan and disability program payments as it continues to sell away its businesses. By the end of 2011, Nortel was split into regional entities – Nortel Networks Limited in Canada and Nortel Networks Inc in the United States, causing disagreements over how to split $7. 5 billion that was earned by selling many assets and patents other corporations such as Apple and Microsoft Corp. The following charts, graphs and financial statements analyze Nortel’s current status. Case Study Questions and Solutions: 1. Dunn is a certified management accountant. Based on the facts of the case, which provisions of the IMA’s Statement of Ethical Professional Practice that was discussed in chapter 1 have been violated? Dunn violates many of the provisions of the IMA’s statement of Ethical Professional Practice they are as follows: 1. Perform professional duties in accordance with law, regulations and technical standards. 2. Provide decision information that is accurate, clear, concise and timely 3. Retain from engaging in any conduct that would prejudice carrying out any duties ethically. 4. Abstain from engaging in or supporting any activity that might discredit the profession. 5. Communicate information fairly and objectively. 6. Disclose all relevant information, that could reasonably be expected to influence an intended users understanding of the reports analyses or recommendations. 7. Disclose delays or deficiencies in information timeliness processing or internal controls in conformance with organization policy and/or applicable law. He violated these by selective reversal of revenue entries in 2000. Followed by concealing the reserves in 2002, which violated GAAP, and then avoided posting a profit so the company wouldn’t have to pay out bonuses. In 2003 Dunn released the reserves to falsely report a profit, which allowed them to eports a profit a quarter earlier than expected, and to pay out more bonuses to senior management. Also in 2003 he misled the investors about why Nortel had restated its financials in order to avoid uncovering the unethical management techniques him and his team had been using. All of these actions take away Dunn’s integrity and credibility in the field of manageria l accounting, which are two of the standards the IMA sets out. Dunn failed to meet his professional code of conduct and his company suffered because of it. 2. What are the responsibilities of an auditor to detect fraud? How were those responsibilities compromised by the actions of Nortel’s management? It is the auditors responsibility to report fraud if they find it, however in this case the actions of Nortel’s management made it difficult for the auditors to do their job. The false financial statements and hiding of money veiled the problems of the company from the auditors. Once there was a hint of the fraud the auditors found it and perused the trail, taking the ethical route and also following the code of conduct. It was their investigation that brought down the fraudulent executives and forced the company to restate its financials properly. This would eventually lead to the failure of Nortel. Nortel made materially false and misleading statements and omissions in connection with the quarterly reviews and materially misstated annual audits of financial statements. This caused the auditors to not be able to properly do their job, and review the statements. 3. Describe the incentives that created pressure on Nortel to manage earnings. Considering the role of Nortel’s management in this regard, discuss whether it met its corporate governance obligations as discussed in previous chapters. The incentives that drove Nortel to manage its earning where greed of the management team, the pressure to deliver bonuses, the pressure to survive an economic downturn, and the pressure to make the company seem like a good investment to both current and potential investors. In an economic climate of intense competition and corporate greed the management at Nortel fell victim to their vices and allowed the pressure to perform to overwhelm their priorities. This caused them to put their own greed and personal ambition before the well being of the company. Nortel did not meet its corporate governance obligations. It did not follow any internal rules of how to run the business. It ignored any corporate ethics they might have. It lied to stakeholders several times by misstating the financials. They did not follow the professional code of conduct of their careers and also did not follow industry standards. They broke the law. No one inside the company caught the fraud therefore their internal controls where not effective. Each of these immoral acts is a case where corporate governance has failed. 4. The final quote in the case characterizes Nortel’s failure as â€Å"just another casualty of capitalism. Do you agree with this statement? Why or why not? How would you characterize the cause of the failure at Nortel? I would argue that Nortel is not just another casualty of capitalism. Nortel did not function in a system of free market capitalism where the government had absolutely no regulation and let the markets function however they wanted. The capitalism system of North America is more of a mixed economy, which combines public and private ownership of companies, and also provides government regulation and intervention to prevent and deal with fraud. Even in a free market the system is meant to come to an equal balance of supply and demand, which cannot be reached if there is fraud involved since the supply has been inaccurately disclosed by the senior management at Nortel. I would characterize this failure as one of humanity. It was not the economic system that allowed this fraud to take place, but the greed of the people and a social environment that ties success so strongly to wealth. It was the social pressure and the effect of human nature that led to Nortel’s demise. . The case discusses how Nortel’s managers prioritized themselves over the shareholders, which, in part, lead to the company’s failure. What should be a company’s first priority? A company’s first priority should be following their code of ethics. The second priority should be the shareholders, followed by the management and other employees. This hierarchy ensures that all the business that is done with be both moral and legal , meaning there is no room to commit fraud and damage the company. In this way you are putting the shareholders first, because by providing a stable and healthy company the shareholders will see an investment that will be able to reach its highest potential. 6. Was Nortel’s settlement a fair penalty? Should the SEC have imposed harsher or more lenient sanctions? Should these sanctions have been on the managers, on Nortel as a whole, or both? A fair settlement would offer compensation to all those who were hurt by this fraud. Groups that may have been hurt could be shareholders, employees and customers. Deciding what is a fair compensation is a little more difficult, however as much of what these people lost as possible should be returned to them. As for the managers who created the problems and took part in the fraud should face a sentence of termination from their company, loss of license (if applicable) and jail time. The company and the individual managers have both failed stakeholders and should both be held accountable. In the case of Nortel specifically the stockholder settlement goes with these guidelines, as for the managers their trial is still ongoing and therefore no sentenced has been given to them yet.