decision as CFO

explain

COOL IN A CRISIS ASSESS POTENTIAL LIABILITIES You stayed up all night reviewing and making corrections to the 10-K financial report before turning it over to the CEO. Early the next morning, you receive a call from the chief operations officer (COO) with the tragic news. You suddenly feel the exhaustion, but you need to act. You call your team and provide them with instructions. YOUR INSTRUCTIONS: Appeise major stockholders of the situation. Work with risk management to assess potential diabilities and be sure to make a required notifications to our insurer. CASH REQUIRED: S 500,000 HOW DO YOU WANT TO DEAL WITH THIS SITUATION? ASSESS POTENTIAL LIABILITES OUT-OF-COURT SETTLEMENT SHARE BUYBACK CONFIRM OUT-OF-COURT SETTLEMENT YOUR INSTRUCTIONS: "Offer the victims' families $145,000 each as an out-of-court settlement. We want to end the fallout from this tragedy as quickly as possible, and this gesture also will demonstrate that the airline cares about the safety of our customers." CASH REQUIRED: $ 32,190,000 SHARE BUYBACK YOUR INSTRUCTIONS: "Immediately buy back shares of our stock in order to prevent its value from falling." CASH REQUIRED: $ 53,567,136 Liberty Airlines Flight 321 has just crashed in Joshua Tree National Park, roughly 60 miles east of Palm Springs, California. There were 102 passengers and crew on board, including the national teenage gymnastic team and their families. The flight originated from Salt Lake City. All that is currently known is that the crash triggered a large fire and that there are probably no survivors. Firefighters and emergency personnel have arrived at the scene