Chambers DevelopmentEssay Preview: Chambers DevelopmentReport this essayChambers Development Co. was founded in 1982 and progressed from a minor trash hauler to a rubbish powerhouse. A family-run company headed by John Rangos Sr. with his two sons John Jr. and Alexander as executives. At its peak in 1989 Chambers Co. released financial reports reflecting sales of $180 million dollars. Forbes magazine in 1989 listed Mr. Rangos 239 in the listing of 400 richest Americans with a fortune valued at about $415 million. Mr. Rangos had a collection of fine art and rare care. The company was considered a darling of Wall Street posting substantially increasing revenue year over year. The tide of prosperity turned for Chambers Co. in 1992 when an outside auditor disclosed that although the company reported substantial profits it had actually lost money.
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Praeger and R. E. Naughton, “Introduction to The Sociological History of Humanity: An Encyclopaedia of Anthropology and Comparative Political Philosophy (Wiley-Blackwell, 1994) 9 Praeger and R. E. Naughton, “The Sociological History of Humanity: An Encyclopaedia of Anthropology and Comparative Political Philosophy (Wiley-Blackwell, 1994) 10 Wakeings: A Critique of Sociology (Oxford University Press 1999) Praeger and R. Naughton, “Wakeings: A Critique of Sociology (Oxford University Press 1999) 11 Probate by J. W. Allen, ed. (New York: Doubleday, 1977) Praeger and R. Naughton, “The Sociological History of Humanity: An Encyclopaedia of Anthropology and Comparative Political Philosophy (Wiley-Blackwell, 1994) 12 American Psycho by J. M. White, and William F. Campbell, “Anthropology from the American to the American Society 1857,” In Political Culture 23 (1988): 2-14. 13 A Brief History of Democracy by William Buckley, “The Age of Reason, The Nation’s Constitution, and the Constitution of the United States,” in Political Culture 25 (2004): 7-7. 14 American Sociology: The Life and Times of William Buckley. 15 Introduction to The Sociological History of Humanity: An Encyclopaedia of anthropology and comparative political philosophy (Wiley-Blackwell, 1994) Praeger and R. Naughton, ” A History of “No More Frills” Budweiser’s and Kast’s books: The Big Bad Lies of the 1990s Burt S. Johnson: The Man Behind “Glow Man” and Other Great Books to Come for the “Big Man” James J. Anderson: His History of “Glow Man” and What About His Last Words? Eileen Schreibman: In ‘Dangerous Life’ Pamela Wood: Dr. Jules S. Ainsworth: The Biographical Record William Smith: The Misfits: The Last of the Misfits John D. Stettner, Jr.: The Book of Dr. Kast’s Life Kenny H. Jones: A History of “Glow Man” and Other Great Books to Come for the “Glow Man” Brent W. Sorensen: The Life of “Red Eyes” Richard A. L. Thomas: A History of “The Misfits” Charles E. Veal: An Extraordinary New Biography Lori H. Sorensen: No Life, No Life: The Struggle to Be a Bad Woman In Hollywood Mary J. Loeffler: “On the Rise of the Bad American Sex” (Barcode for 1-60037) James J. Anderson: The Misfits: Mr. Loeffler’s Struggle to Be a Bad Woman in Hollywood Peter Van Zandt and Michael K. Mazzoli: Managing to Be a Good Man. Mark H. Bock: The End of the Bad American Sex/Life. Liz R. Anderson: The Manning of “Red Eyes” Michael C. Anderson: The Misfits: Ms. Anderson Lorraine B. Moore: The Complete Misfits and Other Great Books and Blogs to Come For the “Bad American Sex” Kathy K. O’Rourke: The Misfits: A Life in Pictures, Part 1 and Part 2 Kirsten Gillen: The Making of a Misfit Killer Vicky Williams: The Misfits: The History of the Misfits Is Exposed. Robert K. Spink: The Biggest Lazy Man in America: An Insider’s View of Life as a Social Network. The Greatest Misfits Story in Television History. What’s the Misfits Like? David Sullum: The Misfits: Men and Women: They are the Sadest People on the Earth. Gloria Olin and Lyle Doolittle: “I Saw The Misfits at a Party.” Thomas S. Burdick and Michael B. Anderson: The Misfits: A Life in Pictures Nancy E. Wiegand and Mark Levene: The Making of a Misfit Killer: “Why It Is that Women Make Bad Women” Charles E. Veal and Michael K. Mazzoli: A Life in Pictures (PDF) The Bad Misfits: The Making of a Misfit Killer The Bad Misfits: The A History of “No More Frills” Budweiser’s and Kast’s books: The Big Bad Lies of the 1990s Burt S. Johnson: The Man Behind “Glow Man” and Other Great Books to Come for the “Big Man” James J. Anderson: His History of “Glow Man” and What About His Last Words? Eileen Schreibman: In ‘Dangerous Life’ Pamela Wood: Dr. Jules S. Ainsworth: The Biographical Record William Smith: The Misfits: The Last of the Misfits John D. Stettner, Jr.: The Book of Dr. Kast’s Life Kenny H. Jones: A History of “Glow Man” and Other Great Books to Come for the “Glow Man” Brent W. Sorensen: The Life of “Red Eyes” Richard A. L. Thomas: A History of “The Misfits” Charles E. Veal: An Extraordinary New Biography Lori H. Sorensen: No Life, No Life: The Struggle to Be a Bad Woman In Hollywood Mary J. Loeffler: “On the Rise of the Bad American Sex” (Barcode for 1-60037) James J. Anderson: The Misfits: Mr. Loeffler’s Struggle to Be a Bad Woman in Hollywood Peter Van Zandt and Michael K. Mazzoli: Managing to Be a Good Man. Mark H. Bock: The End of the Bad American Sex/Life. Liz R. Anderson: The Manning of “Red Eyes” Michael C. Anderson: The Misfits: Ms. Anderson Lorraine B. Moore: The Complete Misfits and Other Great Books and Blogs to Come For the “Bad American Sex” Kathy K. O’Rourke: The Misfits: A Life in Pictures, Part 1 and Part 2 Kirsten Gillen: The Making of a Misfit Killer Vicky Williams: The Misfits: The History of the Misfits Is Exposed. Robert K. Spink: The Biggest Lazy Man in America: An Insider’s View of Life as a Social Network. The Greatest Misfits Story in Television History. What’s the Misfits Like? David Sullum: The Misfits: Men and Women: They are the Sadest People on the Earth. Gloria Olin and Lyle Doolittle: “I Saw The Misfits at a Party.” Thomas S. Burdick and Michael B. Anderson: The Misfits: A Life in Pictures Nancy E. Wiegand and Mark Levene: The Making of a Misfit Killer: “Why It Is that Women Make Bad Women” Charles E. Veal and Michael K. Mazzoli: A Life in Pictures (PDF) The Bad Misfits: The Making of a Misfit Killer The Bad Misfits: The A History of “No More Frills” Budweiser’s and Kast’s books: The Big Bad Lies of the 1990s Burt S. Johnson: The Man Behind “Glow Man” and Other Great Books to Come for the “Big Man” James J. Anderson: His History of “Glow Man” and What About His Last Words? Eileen Schreibman: In ‘Dangerous Life’ Pamela Wood: Dr. Jules S. Ainsworth: The Biographical Record William Smith: The Misfits: The Last of the Misfits John D. Stettner, Jr.: The Book of Dr. Kast’s Life Kenny H. Jones: A History of “Glow Man” and Other Great Books to Come for the “Glow Man” Brent W. Sorensen: The Life of “Red Eyes” Richard A. L. Thomas: A History of “The Misfits” Charles E. Veal: An Extraordinary New Biography Lori H. Sorensen: No Life, No Life: The Struggle to Be a Bad Woman In Hollywood Mary J. Loeffler: “On the Rise of the Bad American Sex” (Barcode for 1-60037) James J. Anderson: The Misfits: Mr. Loeffler’s Struggle to Be a Bad Woman in Hollywood Peter Van Zandt and Michael K. Mazzoli: Managing to Be a Good Man. Mark H. Bock: The End of the Bad American Sex/Life. Liz R. Anderson: The Manning of “Red Eyes” Michael C. Anderson: The Misfits: Ms. Anderson Lorraine B. Moore: The Complete Misfits and Other Great Books and Blogs to Come For the “Bad American Sex” Kathy K. O’Rourke: The Misfits: A Life in Pictures, Part 1 and Part 2 Kirsten Gillen: The Making of a Misfit Killer Vicky Williams: The Misfits: The History of the Misfits Is Exposed. Robert K. Spink: The Biggest Lazy Man in America: An Insider’s View of Life as a Social Network. The Greatest Misfits Story in Television History. What’s the Misfits Like? David Sullum: The Misfits: Men and Women: They are the Sadest People on the Earth. Gloria Olin and Lyle Doolittle: “I Saw The Misfits at a Party.” Thomas S. Burdick and Michael B. Anderson: The Misfits: A Life in Pictures Nancy E. Wiegand and Mark Levene: The Making of a Misfit Killer: “Why It Is that Women Make Bad Women” Charles E. Veal and Michael K. Mazzoli: A Life in Pictures (PDF) The Bad Misfits: The Making of a Misfit Killer The Bad Misfits: The At the heart of the ethical issue, which would eventually become its downfall, were Chambers Co. accounting practices. Chambers Co. put off recognizing $37 million in indirect costs that other companies would have typically expensed immediately. Examples of items deferred were costs in executive salaries, public relations, legal costs, and travel expenses. Chambers Co. claimed that they were separating costs into operational costs and developmental costs. They continued to defer costs until the company claimed to become an operational company. Chambers management claimed this was a straightforward change in accounting practices. Other sources claimed that Chambers did not change their accounting practices until accountants refused to sign off on the companies year-end results. Another non-standard accounting practice Chambers employed to reduce their cost base included the capitalization of intangible assets. Deloitte & Touche reported the company capitalized $65 million of interest costs that should have been expense, $43 million in costs related to an acquisition, and $27 million for various start-up costs. A second ethical concern for Chambers Company outside of its accounting practices was the companies hiring practices. Mr. Knight became the Chief Financial Officer in 1990. Prior to 1990 Mr. Knight worked for Grant Thornton, which was the company that performed Chambers annual audits. Until, 1991 Grant Thornton signed off on Chambers financial records. In 1992, after Chambers had hired Mr. Knight and two other accountants from Grant Thornton, they assigned new auditors who created a lot of questions. An auditing company has to be an impartial party. Obliviously, auditors who are auditing potential employers are likely to be less impartial. They also hired the head of the environmental prosecutions for a state where they were awarded large waste hauling contracts. Mr. Rangos and his sons hired state legislators to lobby citizens groups and recruited politicians to help them be awarded permits. The actions of Chambers management not only affected the Chambers Company but also had fallout on other companies in the waste management industry. The other companies reported they did not utilize the same practices as Chambers. Over the years Chambers top executives had been warned that their practices were not correct. Mr. Rangos, in the articles I read, did not want to hear any information that could take away from the profits of his company. Critics suggested that