Enron from the Beginning to the End - 2542 Words

Introduction When many people hear the word Enron, they immediately associate it with the most important accounting scandal of our lifetimes. Enron was an American gas company that began as the Northern Natural Gas Company in 1931. Internorth, a holding company in headquartered in Omaha, Nebraska, purchased the Northern Natural Gas Company and reorganized it is 1979. Enron arose from the 1985 merger of Houston Natural Gas and Internorth. After building a large, new corporate headquarters in Omaha, the new Enron named former Houston Natural Gas CEO Kenneth Lay as CEO of the newly merged company, and soon moved Enron s headquarters to Houston, Texas. After becoming the newly created top executive, Lay later became chairman of the board†¦show more content†¦These were named â€Å"Special Purpose Entities† (SPE). These SPEs were of doubtful legality and served a number of purposes. (Walsh, 2002) At first Enron apparently set up these SPEs correctly with the help of its independen t auditors, Arthur Anderson. When Enron ran into some difficulties finding replacement for these SPEs, it started using key management personnel for this purpose. What Enron was in fact doing, was using these Special Purpose Entities to move debt off the balance sheet and using the company stock as collateral. (Reinstein, et all, 2002) Enron’s Downfall Concerns about Enron’s financial stability were mounting. On August 14, 2001, Jeffrey Skilling, the chief executive of Enron, a former energy consultant at McKinsey Company who joined Enron in 1990, announced he was resigning from his position. Skilling cited that his reasons for leaving were personal. The months leading up to his resignation, Skilling had sold at minimum 450,000 shares of Enron at a value of around $33 million. After Skilling’s departure Lay reassured the concerned public that Enron was not facing any problems and was in a healthy state. Lay reassumed the position of Chief Executive after Skilling left but a lot of attention was now being focused on the company. Meanwhile, Kenneth Lay had cashed in hundreds of millions of dollars of his own shares but failed to warn others of the tidal wave that was heading their way, particularly those employees that had their entireShow MoreRelatedExecutive Office Of Houston Natural Gas1689 Words   |  7 Pag es Enron was created in 1985 when Houston Natural Gas and InterNorth merged together. Houston Natural Gas was a utility company based in Houston, Texas before being taken over by InterNorth. InterNorth was a very large energy company based out of Omaha, Nebraska. They specialized in natural gas pipelines, but also were successful in the plastic industry, coal and petroleum exploration and production. In the beginning Kenneth Lay, who was the Chief Executive Office of Houston Natural Gas, becameRead MoreRelationship Between Ethics And Business Performance1181 Words   |  5 PagesAlthough the relationship between ethics and business performance is still the subject of controversy, the Enron case is a demonstration that the lack of ethical behavior is inseparable from the competitive disadvantage. The question is not so much whether the disaster could be avoided if the company had adopted from the beginning, transparency criteria. The main thing to know as citizens, so far repute d and honest, have managed to create an environment to bring their managers to take ethically reprehensibleRead MoreRelationship Between Ethics And Business Performance1278 Words   |  6 PagesAlthough the relationship between ethics and business performance is still the subject of controversy, the Enron case is a demonstration that the lack of ethical behavior is inseparable from the competitive disadvantage. The question is not so much whether the disaster could be avoided if the company had adopted from the beginning, transparency criteria. The main thing to know as citizens, so far reputed and honest, have managed to create an environment to bring their managers to take ethically reprehensibleRead MoreThe rise of Enron took ten years, and the fall only took twenty days. Enron’s fall cost its1600 Words   |  7 PagesThe rise of Enron took ten years, and the fall only took twenty days. Enron’s fall cost its investors $35,948,344,993.501, and forced the government to intervene by passing the Sarbanes-Oxley Act (SOX) 2 in 2002. SOX was put in place as a safeguard against fraud by making executives personally responsible for any fraudulent activity, as well as making audits and financial checks more frequent and rigorous. As a result, SOX allows investors to feel more at ease, knowing that it is highly unlikelyRead MoreSkilling Watkins Served As The Whistle Blower Essay876 Words   |  4 Pages Sherron Watkins served as the â€Å"whistle-blower† who played a major part in bringing down the Enron Corporation. Watkins had joined Enron in 1993, after leaving Arthur Anderson. (Enron Whistle) She managed Enron’s massive portfolio of investments used in its multiple vehicles (Welcome). In her letter to then-CEO Kenneth Lay, Watkins questioned whether Enron could withstand the scrutiny of an SEC investigation. Not only would Jeffrey Skilling’s abrupt departure trigger such an investigation, butRead MoreEnrons Accounting Frau d1304 Words   |  6 PagesNorthern Natural Gas Company (the ancestor of ENRON) was established in 1930. In 1979, Inter North Inc. bought Northern Natural Gas Company and placed it  under a new management. In the 1980s, the  United States Congress passed legislation deregulating the sale of  natural gas.  At the beginning of the 1990s, Congress passed a similar legislation targeted at the sales of electricity. These steps launched a new era in the energy market, allowing companies like ENRON to prosper. In 1985, Kenneth Lay, CEO of  HoustonRead MoreEnron And The Collapse Of Enron1303 Words   |  6 PagesEnron, a company which originated in Huston, Texas, was one of the largest American energy trading corporations in the nation. Although it was one of the most well known companies, it was also one that crashed and burned the fastest, shocking many people when it did. Not only did it end fast, the company caused quite a scandal which is still being discussed and reviewed in today’s world. Enron’s bankruptcy scandal was so widely known because of the many people who associated themselves with the companyRead MoreThe Ethics Of The Enron Scandal861 Words   |  4 Pagesmodern American history filed for bankruptcy. Enron, a seemingly invulnerable company would eventually provoke sweeping changes in regulation that controls the management and accounting of public companies even to this day. The Enron scandal has come to be known as one of the prime audit failures of all time and serves as a classic example of corporate greed and corruption. However, for the generation that watched in horror as corporations such as Enron fell along with the stock market, this scandalRead MoreCase Analysis : Enron Corporation891 Words   |  4 Pagesanything wrong or knowing how this money came from. This is how the employees in Enron Corporation felt at the time when the company was the biggest energy company in the nation, and was having the best stock in the market. â€Å"You could feel the excitement at 6 a.m. You walked in the door and got energized, all those creative juices flowing. You worked with the best, the most brilliant. It was a great, great company, says one of the employees in Enron for New York Times (Turnage and Keyton). ThereforeRead MoreEnron Case Study Essay951 Words   |  4 PagesGibney’s film version of the rise and fall of Enron, do you accept Joel Bakan’s argument that the corporation shows â€Å"psychopathic† traits? I agree with Joel Bakan, however, just partially about the corporation Enron showing ‘psychopathic’ traits. Yes there are traits that they were doing unethical actions that completely ruin many people life-long works and their lives; nonetheless, in my opinion, those actions were intentional. The executives at Enron were gambling intelligently, according to the

Summary Of Where Are You Going, Where Have You Been

Summary: According to Barstow, Connie represents American innocence and powerlessness. Connie has a hard time defending herself against Arnold Friend because of her lack of knowledge and the impact of American culture. The mother-daughter relationship plays a significant role in the story because had Connie and her mother communicated better, Connie, who is still a child, would have be protected from the evil of the world. Barstow also points out that the modern American is unable to distinguish evil from good. Evaluation: This article is useful to me because Barstow effectively shows the theme of loss innocence by using thorough examples to show Connie’s carelessness. Barstow seems to enjoy Oates’ use of childish aspirations, violence, and suspense and relates most of her main points in the article to these ideas. The way she expresses these ideas are very clever and she helps show deeper meaning. 2. Caldwell, Tracy M. Joyce Carol Oates Where Are You Going, Where Have You Been?. Literary Contexts In Short Stories: Joyce Carol Oates s Where Are You Going, Where Have You Been? (2006): 1-8. Literary Reference Center. Web. 16 Apr. 2015. Summary: Caldwell discusses in the article the symbols, historical context, and societal context of Oates’ story. She breaks down the questions in the title and relates them to a parent questioning their child. Caldwell shares Oates’ inspiration for her story by telling about ‘The Pied Piper of Tuscan.’ She then describes how OatesShow MoreRelated Summary of Where are you going where have you been? by Joyce Carol Oates557 Words   |  3 PagesFallen Angel We all have been there. After a long days work, all we are thinking about is getting home. As you head towards your car, you notice the darkness around you and suddenly feel that you are not alone. Your pace increases and you begin to sweat mildly. If you could just get there, you’d be safe. Suddenly, you hear a noise and decide the best thing for you to do is ignore it. As you approach you car and unlock it, you sigh with relief that you’ve finally have made it. For many, ourRead MoreSummary and Continuation of the story: â€Å"Where Are You Going, Where Have You Been† By Joyce Carol Oates1461 Words   |  6 PagesErika Villanueva â€Å"Where Are You Going, Where Have You Been† By Joyce Carol Oates There are things that happen when we are growing up that change us when we are grown. There are things that change us forever. Every human being is different, and there is a reason why . All of us had a childhood and all kinds of experiences some good, some bad, some full of joy but also others very painful. Eventually we grow childhood and mature depending of what we have gone through. The way we are able to handleRead MoreReflection1479 Words   |  6 Pagessocializing subsisted of, â€Å"it bothers you thinking about them, wondering about your intentions.† I used twice as many complex reflections as simple reflections. Unfortunately, I should have used many more complex reflections so there was two reflections for every question instead of the other way around. In order to reflect the amount of fun she had with friends, I could have said, â€Å"It sounds like you had a ton of fun just hanging out with your friends.† I should have also commented on how socializin gRead MoreDentistry : The Greatest Of Those Who Deal With Patients Teeth, Gums, And Related Parts Of The1361 Words   |  6 PagesDentistry â€Å"Dentist diagnose and treat problems with patients teeth, gums, and related parts of the mouth† (â€Å"Summary†). They also advise the right diets that could help your oral health and give you tips on how to take care of your teeth and gums to help prevent cavities along with other problems that may occur. The latest recorded information about this profession goes all the way back to 2600 BC. The death of an Egyptian scribe, Hesy-Re, led to his tomb having the title â€Å"The greatest of thoseRead MoreExecutive Summary Essay1654 Words   |  7 PagesThe executive summary is arguably the most important section of the business plan. It must be concise, specific, and well-written. It summarizes the highlights of the completed business plan and provides a brief snapshot of the plan, with sales, spending, and profit summary figures. The summary emphasizes those factors that will make the business a success. It must contain sound numbers for market size, trends, company goals, spending, return on investment, capital expenditures, and fundingRead MoreThe Letter From The Oklahoma Tax Commission : Case Report999 Words   |  4 PagesAttached it is the Letter from the Oklahoma Tax Commission with penalties to date. In my conversations with OTC, they said they would put a lien on the house if we dont pay this. We are still waiting on the IRS response. We have been looking back at the turn of events, not about pointing fingers, but just trying to understand what fell apart and created this situation. Nothing wanting to issue blame, but trying to understand. Owing OTC almost $1000 with penalty and the IRS over $5000 pendingRead MoreI Felt My Heart Drop975 Words   |  4 Pagescorrect MLA format. This may not seem like much, but after 3 years of English teachers that didn’t really teach me anything about writing papers, let alone research ones, I felt like I wasn’t going to be able to do this, I was going to fail. Since I was in the mentality that asking for a teachers’ help wasn’t going to get me anywhere, I stayed away from that. I was completely unprepared for this assignment. When it comes to learning, I don’t think I’ve the best experiences. For example, when I thinkRead MoreJapanese Food1349 Words   |  6 PagesExecutive Summary Here, we are going to discuss the development of a Japanese restaurant as relates to producing a business plan for this to the company also securing as being leveled. Japanese restaurants tend to be relatively immune from negative changes in the economy and the moderate pricing point to associate with these big businesses. As such, the high margins generated by the business, coupled with the large amount of tangible assets associated with the business values businesses to remainRead MoreAnalysis Of Bilingual Education By James Rodriguez1072 Words   |  5 Pages1. (Summary) What are the two educational philosophies Rodriguez describes? (from the text #1). Bilingual Education where Supporters feel that students miss a great deal by not being taught in their family’s language. That children that retain their family’s language will retain a sense of individuality. Their ethnic heritage cultural ties. Helping Students acquire the skills of a classroom crucial for public success. Rodriguez also discusses the use of teaching and using a single language. 2Read MoreTo What Extent Did The Media Affect The Election Of 1948?1233 Words   |  5 Pagesfelt about the election. This investigation will take a thematic structure in order to better outline what caused each separate sway. These two interviews were chosen to be evaluated due to the the interviewees and the influence they may have had. (117) Part B: Summary of Evidence The polls predicted a Dewey victory. Truman campaigned vigorously as the underdog, making a famous whistle-stop tour of the country aboard a special train. A well-known photograph shows Truman the day after the election

Solutions for Agreement Disagreement Essay Samples

Solutions for Agreement Disagreement Essay Samples The Agreement Disagreement Essay Samples Trap An anecdote is a brief story about an actual individual or event. Such thing may be view as demeaning their very own race and culture. Narration is telling a story from a particular viewpoint, and there is normally a reason behind the telling. The Most Popular Agreement Disagreement Essay Samples Put simply, there's an emotional difference between the disputants. Effective letters will give only very good outcomes. To put it differently, it's an overview of your very first idea. The significance of a word is dependent on its history. Keep the letter simple so the message you're conveying is clear. Each detail of a particular subject plays an important part in developing a visual representation for such. If you don't have a current relationship with the recipient, introduce yourself in the very first paragraph. Don't compose any new ideas within this paragraph. In case you have any questions about what's proper for you and your company, we can hook you up with a lawyer for fast answers or a document review. A good example of an overall small business partnership agreement are found at the peak of the page for your reference. An additional way to compose an effective letter is to get a superior letter format or a letter template for a guide. Under all conditions, all letters written to the management ought to be formal, contain all the required info, and totally free of grammatical errors. Most importantly it will make sure that the message in your essay is simple to follow (one of the major criteria for hi gher level scores). The simplest approach to decide on the kind of an essay is to realize the writer's point of view. A very good descriptive essay comes out of a knowledgeable and imaginative mind. The trick to writing an excellent effectiveA essay is to get the passion to write it. Make certain your essay follows a particular format, consisting of the appropriate partsA of essay. If it's still true that you couldn't write excellent essays, you can view completely free essay papers online. In case the essay doesn't flow smoothly whenever you are reading it to yourself, see where you are able to rewrite it so that it is simpler to read. Writing an essay is an essential role in academe life. Here's What I Know About Agreement Disagreement Essay Samples Different methodology, uncertainty and evaluation in natural science supply the new knowledge only in the event the outcome is more applicable than the last theory. Knowing the real value of time is crucial to taste success in life. As a consequence, you get a terrific deal of free time and completed homework. You need to read the example answers to acquire ideas about what are good kinds of answers and what are bad forms of answers. Disagreements in most cases are believed to be negative and very often they are negative. however, it can be positive at precisely the same time once it leads to the search of new understanding. For instance, if you get a working theory that says that cells behave in a particular way then you are going to expect that you may make a prediction and it'll be true. These tests will construct your confidence and your time management abilities. Does not utilize rhetorical devices. This essay agrees that a greater rate of tax needs to be paid by fast food businesses. To conclude, junk food needs to be taxed at a greater rate due to the excellent precedent determined by alcohol and tobacco and that the higher cost should lower the quantity of fast food people buy. Its terms define the method by which the business partnership is going to be conducted, which makes it an important foundational document for running your new small business. Tax from fast food could be utilized in the exact sa me way. Disagreement letters have to be written in a way that expresses your opinion clearly. It occurs when presenting two or more options. It is vital to understand how to compose a productive disagreement letter as it enables you to express your complaints and disagreement in an assertive and polite manner that will make people acknowledge you. Due to how the human mind is intended to believe in falsification, disagreement won't ever end with ideas or experiments. It's through disagreements which people take deeper insights onto issues. At the basis of the vast majority of these insurgencies, there's a primal disagreement above a controversy or a matter of human rights and reason. There were disagreements concerning the maturation of continents. Simply take a rest before finalizing it.