OBJECTIVE: 3 METHODOLOGY 3 THE ENRON STORY: BRIEF 4 HOW AND WHAT TYPE OF FRAUDS WERE COMMITTED? 5 THE ROLE OF STOCK OPTIONS 5 THE USE OF OFF-BALANCE SHEET PARTNERSHIPS 5 Example: LJM 5 Chewco 6 LOBBYING 6 ACCOUNTING PRACTICES 6 DIFFERENT ETHICAL DIMENSIONS 7 SOCIAL DIMENSION 8 AFFECTS ON EMPLOYEES AND SHAREHOLDERS 8 ENRON INDIA 8 AGGRESSIVE NATURE OF ENRON: PERSONAL ETHICS 8 ENRON’S ARROGANCE: PERSONAL ETHICS 9 EXECUTIVES ABANDON ENRON 9 POLITICAL DIMENSION: SYSTEMATIC
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This case study is extracted mainly from two major novels titled “What went wrong at Enron” by Fusaro P.C. and Miller R.M. and “The unshredded truth from an Enron insider” by Brian Cruver. The Vision Called Enron The history of Enron goes back to the 1920’s‚ when a pair of Houston pipeline companies was incorporated to carry gas along the coast of the Gulf of Mexico. In 1956 these companies merged under the name of Houston natural Gas (HNG). While these companies were working along the coast
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science LUM Ultrafine Vertical Roller Mill is absorbing‚ and get better to worse‚ the disc-shaped disc‚ tire-shaped roller‚ rollers‚ rollers alone as a whole outside the pressurized and can be lifted out of a roll or mill‚ introduction of adjustable speed in separator-Static separators. Led LM vertical grinding with to more integrated innovation material adaptability‚ stable running‚ low noise‚ low wear‚ low power consumption‚ easy operation‚ reliable control‚ ease of maintenance‚ the advantages
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` Enron: The Smartest Guys in the Room The movie‚ Enron: The Smartest Guys in the Room‚ is a classic story about corporate America’s greed an deceit that was discovered after the demise of Enron. The collapse of Enron was one of the largest bankruptcy in history and the movie captures the culture of money and politics involved in big American corporations. The film did a very good job portraying the culture that allowed Enron to become one of the largest corporations in America while
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this paper is consider three possible rationales for why Enron collapsed—that key individuals were flawed‚ that the organization was flawed‚ and that some factors larger than the organization (e.g.‚ a trend toward deregulation) led to Enron’s collapse. In viewing “Enron: The Smartest Guys in the Room” it was clear that all three of these flaws contributed to the demise of Enron‚ but it was the synergy of their combination that truly let Enron to its ultimate path of destruction. As in any organization
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In October of 2001 the Enron scandal was revealed‚ which led to their bankruptcy. It was the biggest bankruptcy reorganization in American history at that time. In the movie Jeff Skilling suggest that money is the only thing that motivates people‚ and I agree with him. Money might not directly motivate everybody but it plays a part in everybody’s motivation. Money is the reason people stay in school longer than required‚ the reason people work‚ and the reason why people get out of bed in the morning
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Shaffer Directed by Marc Shaffer Correspondent Hedrick Smith ANNOUNCER: It was a meteoric rise. VOICE: We will become the world’s leading company. ANNOUNCER: And a devastating collapse. VOICE: Enron is a corporate Chernobyl. VOICE: You had the entire system playing fast and loose. VOICE: It is not just Enron‚ it’s an industry problem. LYNN TURNER‚ SEC Chief Accountant (1998-2001): It is real‚ real damage to the country. ANNOUNCER: Why didn’t anyone sound an alarm? VOICE: The watchdogs work for executives
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Case 1.1 - Enron Corporation ------------------------------------------------- Discussion 1 The parties we believe to be most at fault for the crisis in this case are a) the Audit Firm engaged in the Enron audit (Arthur Andersen); b) Enron Management (Kenneth Lay‚ Jeffrey Skilling‚ Andrew Fastow; and c) the SEC. The Public Accounting Firm: Arthur Andersen The auditor has the responsibility to evaluate the risk of material fraud‚ including: * Incentives and motives for fraud : Enron was a fast
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of the Enron Scandal The Enron scandal is one that left a deep and ugly scar on the face of modern business. As a result of the scandal‚ thousands of people lost their jobs‚ some people lost their entire pensions‚ and all of the shareholders lost the money that they had invested in the corporation after it went bankrupt. I believe that Kenneth Lay‚ former Enron CEO‚ and Jeffrey Skilling behaved in an unethical manner without any form of justification‚ but the whistleblower‚ former Enron vice president
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Assuming‚ X1 = Yards of Fabric 1 Purchased X12 = Yards of Fabric 1 on Dobbie Looms X2 = Yards of Fabric 2 Purchased X21 = Yards of Fabric 2 on Dobbie Looms X3 = Yards of Fabric 3 Purchased X31 = Yards of Fabric 3 on Dobbie Looms X32 = Yards of Fabric 3 on Regular Looms X4 = Yards of Fabric 4 Purchased X41 = Yards of Fabric 4 on Dobbie Looms X42 = Yards of Fabric 4 on Regular Looms X5 = Yards of Fabric 5 Purchased X51 = Yards of Fabric 5 on Dobbie
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