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Words: 2,481 | Submitted: Tue Apr 13 2010
... All financial reports were inflated to keep GC stock price safe in the market. Third, GC used capacity swap. Revenue would be calculated to GC but no expense would arise. Regardless GC was lost and bankrupt, its top executives still profited from company stock. GC completes its restricting and emerges from bankruptcy after Singapore Technologies Telemedia invested with two third stakes in business. GC faces a lawsuit of plaintiff (investors, creditors) for above wrongdoing. There are stakeholders involved in the case study are shareholders, employees: Investors lost about 54b, 14,000 employees lost US$ 401,000. In conclusion, the wrong doing person need to be punish by giving back the "unethical money" to corporation in order to solve this problem. New BOD will be establishing for the second step as well. Asking audit from outside operation can make clear picture to shareholder, investor and employees about financial fingers. In addition to ...
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