Is it greed or simply ignorance which caused the Enron Scandal? Enron once was known as "America’s Most Innovative Company" and as of today‚ known as one of the most popular business bankruptcies and failures. Enron appeared to be doing really well‚ producing a lot of cash and new businesses‚ in October of 2001 that all changed. Enron reported a $618 million third-quarter loss and declares a $1.01 billion non-recurring charge against its balance sheet. Partially related to "structured finance" operations
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The Fannie Scandal: The ’Financiopaths ’ Did It Article Analysis Jami L. Harris University of Phoenix ACC 363/ Financial Accounting II Facilitator: Eduard Delacruz November 5‚ 2006 Abstract When most people hear the word "Enron‚" they the first thought that comes to mind is watching the news with the executives being taken by handcuffs to a police car due to the scandal. Though it remains very familiar in the minds of the American people‚ Fannie Mae had also lead a scandalous act to
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Trip Winkel Finance 303 May‚ 27 2005 Dr. Namorato The Enron Scandal Enron was established in 1930 as Northern Natural Gas Company and joined with three other companies to undertake this industry. The four companies eventually began to break apart between 1941 and 1947 as a result of a public stock offering. In 1979‚ Northern Natural Gas was placed under new management when it was bought by InterNorth Inc. In 1985‚ Kenneth Lay‚ CEO of Houston Natural Gas Company devised a transaction
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WorldCom Scandal A summary of WorldCom fraud would include having to describe the greed that would eventually destroy one of the largest communications companies in the United States and world. A humble motel owner‚ Bernard Ebbers took a small long distance company in 1983 and turned it into one of the most successful businesses in the country. It was not so much the business operations that caused the company to grow but the aggressive acquisitions that made the company grow. In its day‚ CEO Bernard
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The Adelphia Scandal The Dawn of Adelphia Adelphia was founded in 1952 by John Rigas and his brother Gus Rigas in Coudersport‚ Pennsylvania with the purchase of their first cable franchise for $300. After 20 years‚ the Rigas brothers incorporated their company under the name Adelphia which derived its name from a Greek word which means brothers‚ an apt corporate title for a business that would employ generations of the Rigas family. Adelphia was a cable television company and built its success
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The Olympus Scandal Hot Potatoes and Flying Funds Summary This paper describes the case of Olympus‚ a Japanese manufacturer of optic equipment‚ at which in early 2012 a scandal was uncovered which was soon dubbed to be one of the largest loss-concealment schemes of Japan. In the 1990’s‚ Olympus incurred significant losses on financial investments made. These were subsequently hidden with the aid of investment companies by shifting the investments around. In the 2000’s‚ these losses were
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has data. Insensibly one begins to twist facts to suit theories‚ instead of theories to suit facts" (Scandal‚ 3). For his cases‚ Holmes gathers up data and information in any way he can‚ one being the art of disguise. The use of disguises play a significant part in crime solving because they allow Holmes to conceal his identity so he can gather information and ultimately deceive society. In “A Scandal in Bohemia”‚ the King of Bohemia hires Sherlock Holmes to retrieve a photograph from Irene Adler‚
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Introduction Hallmark is the recent largest banking scam in Bangladesh‚ which occurred due to regulatory inefficiency of commercial banking sectors. It is a pointer to the fact that if you do not tighten the regulatory belt of the banks‚ serious problems could creep in. Source suggests‚ this particular business house is assumed to have resorted to fraudulent loan. A fraudulent loan is one in which the borrower is a business entity controlled by a dishonest bank officer or an accomplice; the “borrower”
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The Watergate Scandal Essay written by Unknown The Watergate Scandal was a series of crimes committed by the President and his staff‚ who were found to spied on and harassed political opponents‚ accepted illegal campaign contributions‚ and covered up their own misdeeds. On June 17‚ 1972‚ The Washington Post published a small story. In this story the reporters stated that five men had been arrested breaking into the headquarters of the Democratic National Committee. The headquarters was located in
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province of Ontario. The OLG‚ characterized by its core values‚ integrity‚ respect as well as accountability‚ is always expected to perform the duty of care to its clients. However‚ the organization was hit by a scandal which exposed fraudulent behavior within its operations. The scandal was revealed by CBC`s documentary The Fifth Estate‚ in an episode titled `Luck of the Draw` which revealed the plight encountered by a senior citizen‚ Bob Edmond‚ who was conned of his rightful winnings of 250‚000
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