Case Study Jamaica Water Properties - 3519 Words

Case 1.3 Jamaica Water Properties Prepared by Alex Gonzalez for Professor C.E. Reese in partial fulfillment of the requirements for ACC 540 – Fraud Examination School of Business / Graduate Studies St. Thomas University Miami Gardens, Fla. Term A7 / Fall, 2014 October 24th, 2014 Table of Contents Issues 1 Facts 1 Analysis 7 Conclusions/Recommendation 7 References/Bibliography 7 Issues 1. In David Sokol’s position, after discovering the suspicious items in JWP’s accounting records, would you have taken a different course of action than he did? 2. What measures can and should be taken to make it easier for corporate employees to â€Å"blow the whistle† on a fraudulent scheme they uncover within their†¦show more content†¦In 1978, to salvage the company Dwyer stepped down as its top executive and placed his 30 year old son Andrew in charge. Andrew Dwyer quickly disposed of the company’s weakest divisions, paid off much of its debt and developed a new more focused business plan. The business plan called for the company to become the â€Å"premier technical services† firm in the world. In the mid 1980’s, the company renamed JWP (Jamaica Water Properties) Inc. and offered a wide range of services involving the design, development, and maintenance of complex mechanical, electrical and computer systems. JWP targeted its services to high tech industries and included financial services. The company developed sophisticated control systems that helped major Wall Street firms, such as Merril l Lynch and Goldman Sachs to more efficiently and cost effectively manage their operations. In the 1990’s, Andrew Dwyer converted JWP into a multibillion dollar firm with a workforce of more than 20,000 employees. The company stock is listed in the New York Stock Exchange and included in the SP 500. The performance of the company from 1979 to 1991 showed positive profits every quarter for these 12 years. The water utility division was still a part of the company but only attributes to 2% of the annual revenues. 1991, Andrew purchased the large computer retailerShow MoreRelatedJamaica Water Properties Case Study1398 Words   |  6 Pagesï » ¿Abigail Rockwell Due Date: February 15, 2014 Jamaica Water Properties Case Study During a time in our recent history when greed and self promotion was the benchmark that most financial and managerial directors of companies, both public and private, seemed to strive for, David Sokol stands out above the crowd. Instead of looking to further his own self-image, career, or standing, instead of taking what most people would view as the easy road, Mr. Sokol did the right thing. He chose ethics, moralsRead MoreThe Negative Effects of Tourism3593 Words   |  15 PagesTHE NEGATIVE EFFECTS OF TOURISM on the ECOLOGY of JAMAICA by Elaina Kozyr BLPR 101.51 Introduction Tourism and the environment have a very complex and interdependent relationship. 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