Market_Equilibrating_Process

Regulatory Risk Plan Raul Huertas Business Law/ Law/531 March 23, 2010 Vasilis Katsafanas An examination of selected areas of Alumina, Inc was made to determine that internal controls are in effect and Company policies and procedures are being complied with. This Regulatory Risk Plan is divided in two sections. The first section outlines those descriptions of exposure. The second section outlines Legal Issue. I. Description of Exposure A. Issues for Waste water 1. Release of effluents into Lake Dira. Particulate matter and fumes from smelting operations. a. Disposal of hazardous waste from manufacturing and processing operations. B. Plant Facility 1. Surrounding campus 2. lake exposure to trespassers C. Global Operations 1. World wide liability for movement of goods 2. Operations 3. Product liability 4. Taxation D. Directors and Officers 1. Suits against the company for mismanagement E. Actual Court Case 1. Relationship with Kelly Bates , How to defend the company with out incurring liability F. Release of EPA report from five years ago II. Legal Issues A. Issues for Waste water 1. Alumina, Inc. has to implement a program that treats optimally the waste water that its throw into the lake Dira, developing procedures, and policies that engage Alumina, Inc with the local community, and regulatory compliance. a. Alumina, Inc. should build up a contingency plan to attack and uproot this matter that damages the reputation of the company. b. Because the accident five years ago, and because they are still operating at the same premises Alumina has the responsibility to avoid further errors at the operational level. B. Plant Facility 1. It is assumed that the plant facility and surrounding campus are accessible to the public. Alumina should ensure that there are adequate signs warnings about the danger to which humans are exposed through contact with chemicals processed and discarded by Alumina, Inc. 2. Lake Dira is open to the public for family activities, and sports. The lake belongs to the town town who should alert the community of the possible danger water sports and fishing. Otherwise the community could be seriously threatened by the harshness and severity of eminent pollution and contamination of chemicals flushed down from the Alumina plant facility on Lake Dira. C. Global Operations 1. Because Alumina, Inc. is a global company that markets their product internationally, they must use high standards of manufacturing the results in high quality products by following international parameters and treaties they minimize their exposure to global product liability. 2. In a production process the final product must be developed with quality, and at the same time marketed responsibly resulting in future procurement and acquisition of new markets. 3. As a part of Alumina’s product export policy, they should always pay their taxes to foreign countries, unless there is a free trade agreement in force. D. Directors and Officers 1. Currently directors and officers of Alumina, Inc. are seriously committed to the company at all levels, from the operational level, managerial level, and human relations. Unfortunately, the company is going through an uncomfortable legal situation that must be handled with the highest professionalism and complete seriousness. E. Alumina is currently subject to a lawsuit, in which the plaintiff wants to attribute to Alumina, Inc. The leukemia disease which has developed in a child. Alumina, Inc. must immediately act on this legal case, because of its reputation, and the company name can be negatively affected in the nationally and internationally. In my opinion, Alumina, Inc. should hire a company specializing in conducting environmental analysis to determine if Alumina, Inc. has a deficiency in the treatment of waste water, or on the contrary Mrs. Bates is taking advantage of the health condition presented by his daughter. References Table of Simulation Exposures, Team B, 03/23/2010, University of Phoenix. SIMULATIONS: Business Regulations Simulation, Week 2- TOPIC 1: Tort and Regulatory Risk, University of Phoenix, Law/531 Business Law