wife and children‚ was a company created in 1998 by Enron ’s CFO‚ Andrew Fastow‚ to buy Enron ’s poorly performing stocks and stakes and bolster Enron ’s financial statements. Fastow proposed in October 1999 to Enron ’s finance Board the creation of LJM2 Co-Investment L.P. Fastow would act as general director of a much larger private equity fund that would be funded with $200 million of institutional funds. The question of Fastow’s dual role as Enron ’s CFO and LJM2 ’s general director was not viewed
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Natural Gas‚ became CEO‚ and the next year won the post of chairman. From the pipeline sector‚ Enron began moving into new fields. In 1999‚ the company launched its broadband services unit and Enron Online‚ the company’s website for trading commodities‚ which soon became the largest business site in the world. About 90 per cent of its income eventually came from trades over Enron Online. Growth for Enron was rapid. In 2000‚ the company’s annual revenue reached $100 billion US. It ranked as the seventh-largest
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Business Ethics Enron Case 1. Using the options market more for gambling purposes to cover loss rather than insurance. The culture was if one of their employees was making a lot of money they didn’t ask questions they didn’t look too deep into where the money was going they eventually gave these people more money to spend and use‚ what they realized later on was that that employee wasn’t very good. They were just lucky one time. They made some losses and had to get that loss back so they put
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Politics had a huge influence on sports in the 1960s‚ mainly in college football 1969. In 1969 undefeated Texas played undefeated and southwest conference rival Arkansas‚ and President Richard Nixon declared that he would attend the game and that the winner
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developments. The previous qualifications for voting rights by the amount of property owned were abolished and a direct methods of selecting presidential electors‚ county officials‚ state judges‚ and governors replaced indirect methods. These steps lead to a greater number of citizens interested in voting in elections. A new two-party system developed. A very important political figure of this era was Andrew Jackson‚ who offered a huge amount of Indian land to white settlers. However‚ the growing
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Rewrite Throughout time we see how the government that we see today evolved. From the 1790’s‚ American politics was a reflection of the hardships and degree of work needed to maintain an effective government. Throughout this time period the leaders of America faced many domestic and foreign affairs that were key to the formation of a new nation. With the election of Washington as the first president the chain of domestic affairs that helped shape American politics began with no other events in
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based solely on the existance of slavery in the south. This assumption is generally made by people who are not fully educated on the topic‚ and are unable to fully understand each of the different factors that led to the civil war. While slavery did play an important role in the disunion of the north and south‚ the war itself was caused by disunion and disunion alone (Schweitzer‚ Jeff). The largest factors leading to the war composed of state’s rights‚ followed by disagreement on tarriffs. The
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understand how they maintained power as well as the policies they instituted while in power. In the Soviet Union the goal of Lenin had been to institute a full blown socialist state‚ but in reality it didn’t pan out like he had hoped. From 1918 until 1921 the Bolsheviks had implemented War Communism. War Communism was not only meant to be an economic system but also a social system; it included the virtual elimination of all private trading‚ there was worker control in all factories which did not help
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economy is dependent on making use of workers to produce capital‚ and this makes the country successful and powerful. Without exploiting or excluding people‚ a country won’t be able to be a powerful self-sufficient economy which will in turn lead to an economic downfall that would devastate a country. The purpose of exploiting and excluding people is to benefit a country by allowing it to economically expand. This explains why a country’s mindset is to prioritize economic success and power. The country
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collapse of Enron had substantial and far-reaching ramifications throughout the financial investment field‚ tax compliance professions and the accounting profession. Intense Congressional scrutiny resulted in a new era of transparency in financial reporting‚ stricter reporting standards as provided in Sarbanes-Oxley and substantial penalties for failure to comply with new financial reporting and tax compliance standards in the Internal Revenue Code (Bottiglieri et. al.‚ 2009) Enron Assignment
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