A business model of the times The Enron bubble was a prime example of the dominance of speculative finance in business. V. SRIDHAR MORE than two months after Enron‚ the seventh biggest corporation in the United States‚ filed for bankruptcy‚ the stench of scandal refuses to die. Shocking revelations about the company’s modus operandi continue to pour in. Public and media attention was initially focussed on the company’s close ties with the political establishment and the policy-making bureaucracy
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The Baths of Diocletian‚ also situated in Rome‚ Italy‚ was commissioned by emperor Maximian in 298 AD as a tribute to his co-leader Diocletian. This is displayed in an inscription on the main entrance of the Diocletian’s baths‚ which says: “Our Lords Diocletian and Maximian‚ the elder and invincible Augusti‚ fathers of the Emperors and Caesars‚ our lords Constantius and Maximian and Severus and Maximin‚ noblest Caesars‚ dedicated to their beloved Romans these auspicious Baths of Diocletian‚ which
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Overview Enron Corporation‚ once the 7th largest company in US and a global leader of electricity and natural gas industries‚ filed for bankruptcy protection in late 2001. It was revealed that the company had been hiding investment losses and created fictitious revenue through several complicated accounting gimmicks. Besides Enron’s senior management who created the whole fiasco‚ many people believed that several other parties‚ such as the Board of Directors and the external auditors should also
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Enron and WorldCom Scandals Matthew Morrison ACC/260 8/18/12 Enron and WorldCom Scandals Question number one of the Enron case focuses on the corporations that got Enron into its difficulties these were the special purpose entities for joint partnerships including Chewco‚ LJM1‚ LMJ2 and the Raptors. Number three of the Enron case shows us that the board was divided into five divisions‚ all of which were full of well-educated financial employees who
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Bath & Body Works‚ LLC is an American retail store under the Limited Brands umbrella. It was founded in 1990 in New Albany‚ Ohio by Leslie Wexner. Since it was founded Bath & Body Works operates more than 1‚700 stores across the world‚ among which 1‚200 stores are located in the United States. Bath & Body Works specializes in numerous fragrant lotions‚ bath items‚ personal care items‚ and home fragrances. Other Limited Brands include Victoria’s Secret‚ Henri Bendel‚ White Barn Candle Co.‚ and
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Journal of Finance and Accountancy Arthur Anderson Auditors and Enron: What happened to their Texas CPA licenses? Daniel Edelman Texas A&M University-Commerce Ashley Nicholson Texas A&M University-Commerce ABSTRACT This article examines Arthur Andersen‚ its role with Enron‚ and what happened to some of its key players. The demise of Arthur Andersen and Enron was significant. Thousands of people lost their jobs and investments. As a result‚ new laws for publicly traded companies and auditing firms
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The title of the text I chose is “The Bath”. This text is a short story written by Raymond Carver‚ a re-known short stories writer from 1962-1986 in Americas’ history. Concerning the author message about “The Bath”‚ we are reading a story of a young boy called Scotty who was about to turn eight year on Monday that he was hit by a car while walking with his friend to school. The story is dominated by mute communication between personalities; bath was used as the means of relieve for affected parents
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Response to organizations in art or entertainment (Enron‚ the Smartest Guys in the Room‚ 2005) Introduction There is a proverb “too good‚ to be true”‚ and it means the same‚ that some things are too great‚ to be real. In business world‚ it is often used to describe market conditions or companies under unbelievable success. Although‚ there were not too many companies that would fit the saying Enron was one of them. In a period of sixteen years‚ Enron’s value grew from 10 to 70 billion dollars
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The Unethical Behavior of Enron Enron‚ once the countries seventh-largest company according to the Fortune 500‚ is a good example of how greed and the desire for success can transform into unethical behavior. Good ethics in business would be to compete fairly and honestly‚ to communicate truthfully and to not cause harm to others. These are things that Enron did not seem to display‚ which led to Enron’s operations file for bankruptcy in 2001. Enron’s scandal has become one of the most talked
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Before filing for bankruptcy in 2001‚ Enron Corporation was one of the largest integrated natural gas and electricity companies in the world. It marketed natural gas liquids worldwide and operated one of the largest natural gas transmission systems in the world‚ totaling more than 36‚000 miles. It was also one of the largest independent developers and producers of electricity in the world‚ serving both industrial and emerging markets. Timeline Enron began as Northern Natural Gas Company‚ organized
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