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Guarantee Security Life Insurance Company
Guarantee Security Life Insurance Company, or GSLIC, represented one of the most severe cases of insurance fraud in Florida history. According to the Florida Insurance Commissioner: SLICwas, almost from the beginning, a massive fraud, aided and abetted by blue-ribbon brokers and licensed professionals motivated by their own self-interest. The fraud at Guaranteed Security was a carefully orchestrated bank robbery. But the thieves disguised themselves with the help of accountants and brokers and lawyers rather than wearing silk-stocking masks. The allegations by Florida insurance regulators against accounting firm Coopers & Lybrand ultimately led to a $4.5 million settlement. The U.S. Securities and Exchange Commission found that Merrill Lynch "failed to properly record the terms and conditions of certain transactions which involved the sale and repurchase of certain securities" and ordered that Merrill adopt procedures and controls to ensure compliance with the SEC's book's and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chevrolet Corvette
The Chevrolet Corvette is a line of American two-door, two-seater sports cars manufactured and marketed by General Motors under the Chevrolet marque since 1953. Throughout eight generations, indicated sequentially as C1 to C8, the Corvette is noted for its performance, distinctive styling, lightweight fiberglass or composite bodywork, and competitive pricing. The Corvette has had domestic mass-produced two-seater competitors fielded by American Motors Corporation, American Motors, Ford Motor Company, Ford, and Chrysler; it is the only one continuously produced by a United States auto manufacturer. It serves as Chevrolet's halo car. In 1953, GM executives accepted a suggestion by Myron Scott, then the assistant director of the Public Relations department, to name the company's new sports car after the corvette, a small, maneuverable warship. Initially, a relatively modest, lightweight 6-cylinder, 6cylinder convertible, subsequent introductions of V8 engine, V8 engines, competitive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Insurance Companies Of The United States
{{Disambiguation ...
Defunct may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the process of becoming antiquated, out of date, old-fashioned, no longer in general use, or no longer useful, or the condition of being in such a state. When used in a biological sense, it means imperfect or rudimentary when comp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Glenn
John Herschel Glenn Jr. (July 18, 1921 – December 8, 2016) was an American Marine Corps aviator, astronaut, businessman, and politician. He was the third American in space and the first to orbit the Earth, circling it three times in 1962. Following his retirement from NASA, he served from 1974 to 1999 as a United States Senate, U.S. Senator from Ohio; in 1998, he flew into space again at the age of 77. Before joining NASA, Glenn was a distinguished fighter pilot in World War II, the Operation Beleaguer, Chinese Civil War, and the Korean War. He shot down three MiG-15s and was awarded six Distinguished Flying Cross (United States), Distinguished Flying Crosses and eighteen Air Medals. In 1957, he made the first supersonic transcontinental flight across the United States. His on-board camera took the first continuous, panoramic photograph of the United States. Glenn was one of the Mercury Seven military test pilots selected in 1959 by NASA as the nation's first astron ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States House Energy Subcommittee On Oversight And Investigations
The U.S. House Energy Subcommittee on Oversight and Investigations is a subcommittee within the House Committee on Energy and Commerce. Jurisdiction Responsibility for oversight of agencies, departments, and programs within the jurisdiction of the full committee, and for conducting investigations within such jurisdiction. The House Energy and Commerce Committee has jurisdiction over domestic and international sport, has investigated reports of abuse in sports, and has led congressional efforts to enact new laws to at better protect athletes. It has an interest in sexual assault, sexual misconduct, sexual mistreatment, sexual harassment Sexual harassment is a type of harassment based on the sex or gender of a victim. It can involve offensive sexist or sexual behavior, verbal or physical actions, up to bribery, coercion, and assault. Harassment may be explicit or implicit, wit ..., and other sexual offenses in the U.S. Olympic movement and organized sports. Members, 119th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Dingell
John David Dingell Jr. ( ; July 8, 1926 – February 7, 2019) was an American politician from the state of Michigan who served as a member of the United States House of Representatives from 1955 until 2015. A member of the Democratic Party, Dingell holds the record as the longest-serving member of Congress in American history. Born in Colorado Springs, Colorado, Dingell attended Georgetown University, where he earned a Bachelor of Science in chemistry in 1949 and a Juris Doctor in 1952. Dingell began his congressional career by succeeding his father, John Dingell Sr., as representative for on December 13, 1955. A longtime member of the House Energy and Commerce Committee, Dingell chaired the committee from 1981 to 1995 and from 2007 to 2009. He was Dean of the House of Representatives from 1995 to 2015. Dingell was instrumental in the passage of the Medicare Act, the Water Quality Act of 1965, the Clean Water Act of 1972, the Endangered Species Act of 1973, the Clean Ai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Generally Accepted Accounting Principles
Publicly traded companies typically are subject to rigorous standards. Small and midsized businesses often follow more simplified standards, plus any specific disclosures required by their specific lenders and shareholders. Some firms operate on the cash method of accounting which can often be simple and straightforward. Larger firms most often operate on an accrual basis. Accrual basis is one of the fundamental accounting assumptions, and if it is followed by the company while preparing the financial statements, then no further disclosure is required. Accounting standards prescribe in considerable detail what accruals must be made, how the financial statements are to be presented, and what additional disclosures are required. The term ''generally accepted accounting principles'' (GAAP) was popularized in the late 1930s. Some important elements that accounting standards cover include identifying the exact entity which is reporting, discussing any "going concern" questions, specif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan Receivable
Loan receivable is a banking term for an asset account that shows amounts owed by borrowers. The lender's ledger details all unpaid amounts from borrowers. Loans receivable are handled logically and transparently, like other accounting processes. The balance sheet shows loans receivable as current assets if they are repaid within one year. Otherwise, they are non-current assets and listed lower. Measurement United States' Generally Accepted Accounting Principles (GAAP) Loan receivables are classified as either held for sale (HFS) or held for investment (HFI) based on management's intent. If a loan receivable is HFS, it is measured at the lower of cost or fair value. Meanwhile, if it is HFI, it is measured at amortized cost. International Financial Reporting Standards (IFRS) According to IFRS 9, if a financial asset is held with the intention of collecting contractual cash flows on specified dates, and those cash flows are solely payments of principal and interest, then the asset ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Preferred Stock
Preferred stock (also called preferred shares, preference shares, or simply preferreds) is a component of share capital that may have any combination of features not possessed by common stock, including properties of both an equity and a debt instrument, and is generally considered a hybrid instrument. Preferred stocks are senior (i.e., higher ranking) to common stock but subordinate to bonds in terms of claim (or rights to their share of the assets of the company, given that such assets are payable to the returnee stock bond) and may have priority over common stock (ordinary shares) in the payment of dividends and upon liquidation. Terms of the preferred stock are described in the issuing company's articles of association or articles of incorporation. Like bonds, preferred stocks are rated by major credit rating agencies. Their ratings are generally lower than those of bonds, because preferred dividends do not carry the same guarantees as interest payments from bonds, and becau ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treasury Security
United States Treasury securities, also called Treasuries or Treasurys, are government debt instruments issued by the United States Department of the Treasury to finance government spending as a supplement to taxation. Since 2012, the U.S. government debt has been managed by the Bureau of the Fiscal Service, succeeding the Bureau of the Public Debt. There are four types of marketable Treasury securities: Treasury bills, Treasury notes, Treasury bonds, and Treasury Inflation Protected Securities (TIPS). The government sells these securities in auctions conducted by the Federal Reserve Bank of New York, after which they can be traded in secondary markets. Non-marketable securities include savings bonds, issued to individuals; the State and Local Government Series (SLGS), purchaseable only with the proceeds of state and municipal bond sales; and the Government Account Series, purchased by units of the federal government. Treasury securities are backed by the full faith a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Junk Bond
In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit events but offer higher yields than investment-grade bonds to compensate for the increased risk. As of 2024, high-yield bonds have a higher yield than U.S. Treasury securities. Default risk As indicated by their lower credit ratings, high-yield debt entails more risk to the investor compared to investment grade bonds. Investors require a greater yield to compensate them for investing in the riskier securities. In the case of high-yield bonds, the risk is largely that of default: the possibility that the issuer will be unable to make scheduled interest and principal payments in a timely manner.:208 The default rate in the high-yield sector of the U.S. bond market has averaged about 5% over the long term. During the liquidity crisis of 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Right Against Self-incrimination
The right to silence is a legal principle which guarantees any individual the right to refuse to answer questions from law enforcement officers or court officials. It is a legal right recognized, explicitly or by convention, in many of the world's legal systems. The right covers a number of issues centered on the right of the accused or the defendant to refuse to comment or provide an answer when questioned, either prior to or during legal proceedings in a court of law. This can be the right to avoid self-incrimination or the right to remain silent when questioned. The right may include the provision that adverse inferences cannot be made by the judge or jury regarding the refusal by a defendant to answer questions before or during a trial, hearing or any other legal proceeding. This right constitutes only a small part of the defendant's rights as a whole. The origin of the right to silence is attributed to Sir Edward Coke's challenge to the ecclesiastical courts and their ''ex ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
