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What internal controls might have prevented a former Smucker employee from stealing $4.1 million over 16 years?

In October 2014, a former Smucker employee, Mark Kershey, was charged with defrauding the J.M. Smucker Company of more than $4.1 million over a 16 year period. Kershey was the chief airplane mechanic at the company’s hangar at the Akron-Canton Airport in Ohio from 1990 until he was discharged by Smucker in 2013.  From 1997 […]

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How does the SEC allege that Diamond Foods fraudulently increased earnings?

Diamond Foods produces and markets Emerald snack nuts, PopSecret popcorn, and several other snack brands. The Securities and Exchange Commission (SEC) recently charged Diamond and two of the company’s former executives (the CEO and the CFO) with misleading investors by fraudulently manipulating income (see “Diamond Foods to Pay $5 Million to Settle SEC Fraud Charges,” […]

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What is the gross margin on the Apple iPhone 5S and 5C?

According to the GottaBe Mobile website in September 2013, the Apple iPhone 5S with 16 GB memory sells off-contract for $649, while the iPhone 5C with 16 GB memory sells off-contract for $549.  The same phones with 32 GB memory sell off-contract for $749 and $649. According to Bloomberg Businessweek and IHS iSuppli, the iPhone […]

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