928 shares of stock in ImClone Systems, Inc. ("ImClone"). ImClone is a biotechnology company whose then-chief executive officer, Samuel Waksal, was a friend of Stewart's and a client of Stewart's stockbroker at Merrill Lynch, defendant Peter Bacanovic. On December 25, 2001, ImClone learned that the Food and Drug Administration had rejected the company's application for approval of Erbitux, a cancer-fighting drug. On December 28, the day after Stewart sold her shares; ImClone publicly announced that
It is known for sure that ImClone submitted a Biologics Licensing Application (BLA) to the Food and Drug Administration (FDA) around 31 October 2001. It is also known that the FDA must make a decision on the BLA within 60 days per FDA regulations. It was public information that the FDA decision was expected by the end of December 2001. On the morning in question, 27 December 2001, Peter Bacanovic, Stewart’s broker, was informed that Samuel Waksal, the CEO of ImClone, was looking to sell all of
the event? On December 27, 2001, Martha Stewart “sold stock in a biopharmaceutical company, ImClone System, Inc., after receiving an unlawful tip from Bacanovic, at the time a broker with Merrill Lynch, Pierce, Fenner & Smith Incorporated” (SEC, 2003). Prior to Stewart selling her stock in the company, the CEO of ImClone, Samuel Waskal and his daughter Aliza Waksal “had placed orders to sell all of the ImClone stock they held at Merrill Lynch” (SEC, 2003) because they knew the Food and Drug Administration
Martha Stewart Living Omnimedia was becoming a very successful company. Martha Stewart Living Omnimedia will also be referred to as MSLO. Background of Scandal In 2001, Martha Stewart was accused of illegal insider trading with the stock of ImClone Systems which slowly ruined her reputation. Stewart insisted that she had agreed with her stock broker to sell if the stocks went below $60 a share. Throughout the investigation she stuck with her story and had serious doubts that she was going to be
Omnimedia Dear Ms. Stewart, I am writing to address some concerns I have about the future of your company, Martha Stewart Omnimedia (MSO). Perhaps the one issue that you are grappling with at present is about the Imclone scandal. You have been accused of selling $227,000 worth of Imclone stock based on inside information. Because of these charges of insider trading, your critics have summarily associated you with other disgraced company directors: Kenneth Lay of Enron and Bernard Ebbers of WorldCom
From being a very successful businesswoman to calling a prison cell home, Martha Stewart has definitely had an interesting past couple of years. She started her career about 30 years ago with a catering business and has since built from that becoming the CEO and Chairman of Martha Stewart Living Omnimedia, Inc. Her success also includes the publication of her magazine Everyday Living, being the commercial spokeswoman for K-Mart, and having her own popular television show, From Martha’s Kitchen
Stewart instead has the spotlight on her for crimes of insider trading. A tip from her former broker Peter E. Bacanovic, persuaded her into selling her IMClone stock after sharing information about a close friend of Stewart’s getting rid of his shares. Stewart’s companion, Sam Waksal, was also the chief executive of IMClone Systems Inc. IMClone Systems is a well-known company specializing in the research and development of therapies treatments of cancer. The stock selling was provoked due to a leak
success of all operations. However, it depends on the ability to make sense of the operational environment and to anticipate those factors that influence operations, both negatively and positively. Unfortunately, the structure and behavior of the systems that commonly comprise these factors suggest that making sense of operational environments is a “wicked problem”. A systematic examination of the population, the insurgency, and the counterinsurgent using the eight OE variables is critical to the
Hazard mitigation is an important plan for societies and communities to devise, that can prepare them for various types of hazards. The mitigation process involves actions that can help to reduce or eliminate the risks associated with hazards. The process can have many positives to it, and with a mitigation plan in place, states will be safer and ready for anything. With any plan, hazard mitigation has certain tools involved. The tools are Preventions, Property Protection, Public Education and Awareness
Week 3: Discussion 1 – Conceptual System Design Colorado Technical University CS672: Systems Engineering Methods Pooja Kattimani Instructor: Professor John King January 20, 2014 Conceptual System Design 1. In accomplishing needs analysis in response to given deficiency, what type of information you would include? Describe the process that you would use in developing necessary information? Information required to accomplish needs analysis in response to given deficiency is statement of problem
The System Theory The system theory helps one to understand adult with disabilities in terms of their needs, bio-psycho, social, spiritual, and cultural dimensions. This theory also helps one to understand the well-being of adults with disabilities and the quality of life they seek to achieve. (Hutchison, 2013) This theory depicts how family members, church congregation, careers, and government programs are interrelated parts that constitute adults with disabilities to live as close to normal
Part I Key Fundamentals of System Theories The systems theory can be a convenient way of thoughtful about the job of supervision. In real life situation it provides a framework for visualizing internal and external environmental factors as well as an incorporatedentire. It permitsacknowledgment of the proper place and function of subsystems. The systems inside which businessmen must run are necessarily complex. However, management via systems concepts fosters a way of thinking thathelps to dissolve
the role of systems thinking in program planning, implementation, evaluation, and revision relates to: effective uses of information technology in public health practice, sources of inequality that produce health disparities across diverse populations, effective public health leadership, factors of population based health status and behavior, and public health action research. A brief description of systems theory will discuss relatively open and closed systems. How the focal system (area of focus)
strengths, support systems and goals. It is based on the assessment of her physiological, social, emotional systems. In order to accomplish the goals and objectives, the General Systems Theory will be utilized to assist and guide the APRN in assessing and recognizing the problems present in the various aspects of her life and formulating interventions that will assist, guide, and direct her towards resolutions, health, wellness, acceptance and overall positive actuality. General Systems Theory is a theory
to management are sociotechnical systems, quantitative management, organizational behavior and systems theory. Each approach is unique, and each approach can be used in many types of management. The sociotechnical systems theory looks at two things. The social system in the work environment and the technical system in the work environment. The combination of these two things can lead to an organizations effectiveness in keep customers satisfied. The social system consists of the organizations workers
System tracts are areas of the lithosphere which have multiple interacting depositional systems. These system tracts are the arrangement of layers in a depositional sequence. The structure of a depositional sequence begins with a sequence boundary, followed by a lowstand systems tract, then a transgressive systems tract, a highstand systems tract, and a falling-stage systems tract, before finally reaching another sequence boundary. These strata were deposited at different points of transgressions
international medical graduates and US medical graduates learn the same conceptual information. However, when IMGs are learning practical clinical skills, US graduates are receiving the resources to pass the licensing exam, prep resumes and learn the systems. Therefore, the issue is not who knows
what a social system actually is. He does this in order to the five important ideas that make up social systems. Throughout the reading one learns that these five things consist of the ideas that: People and systems have a direct relation to each other in terms of how one influences the other but they are not the same. Systems directly affect how people act and participate in building society by following the path of least resistance, but at the same time without people these systems might not exist
mixed personnel strategy for adopting position classification? Explain the following terms: Rank-in-job vs. Rank-in-person; Open-Personnel Systems vs. Closed Personnel Systems; sand Lateral Entry. a. The three types of personnel strategies are: 1) election, 2) appointment, and 3) rules composed of merit, seniority, and representativeness factors. Electoral systems emphasize values, debate, political responsiveness, and generalized knowledge of government. Elected leaders are required to serve terms
Reflection A system could be considered as elements structured together because they continually affect each other through time (Senge, 2012). Think of the human body. It is a network of interrelated organ systems derived from organs, tissues and cells working together as one. Individually, each organ may stand alone in its uniqueness of function. However, it cannot successfully help the body to move and survive without the aid of the other parts of the organ systems. School systems work much the