Enron’s collapse was the result of unethical practices; alas‚ such practices had a long‚ ignominious presence. The Enron story begins with CEO Kenneth Lay‚ who in 1986 combined his Houston Natural Gas company with several other entities. Until 1996‚ Enron primarily sold natural gas. Yet‚ in a sign of trouble to come‚ in 1987 Lay overlooked evidence of financial misdeeds in the company’s Valhalla‚ NY unit as executives Louis Bourget and Thomas Mastroeni greatly inflated profits while embezzling
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for thousands of years in the society. The substantial influence of Greek Mythology on the world’s culture and historic heritage is undeniable‚ since‚ till today‚ philosophers‚ artists and scholars are trying to explain the world and its ethics based on parts of the Greek mythology. All of these myths are part of our present and past cultural traditions in many ways‚ they define who and what a culture is. Without mythology‚ our history as a human race and indeed our present time would be less rich
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the Causes and Effects of the Enron Accounting Scandals Name: Do Minh Tam Class: MEP 100 Lecture: Karen Bird Date: December 24‚ 2010 Introduction Background From the 1980s until now‚ there have been a lot of accounting scandals which were widely announced on by media. The result of this situation is many companies were bankruptcy protection requests‚ and closing. One of the most widely reported emulation of accounting scandals is Enron Company. Enron Corporation is one of the largest
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Roman culture is the prodigy of the outside influences of Greeks of the Magna Graecia and Etruscans in the early times until the Middle Republic. Their influences are prevalent through the current understanding of Roman society through the aspects of religion‚ education and architecture. Magna Graecia‚ a land that was envied for its fertile land and great trade positioning between Greek‚ Etruscan and Phoenician channels of trade fell fully under Roman control in 89 BCE and from this time on‚ heavily
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Abstract Objective : To study and review an article that focuses on the corporate culture in relationship marketing. (The role of corporate culture in relationship marketing – Ilesias.O et.al‚ 2009) Methodology : The paper used a qualitative methodology involving interviews of related personnel. The interviews were then analyzed throught the grounded theory method. Conclusion : It was learnt that there are two key values that are needed to put relationship marketing in effect‚ which are client
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The First World War was a war that represented the cultural changes that would take place directly following it. It was a war of new weaponry and new ways of communication. However‚ much like the new era of culture in the 1920’s‚ it came to a standstill; stuck in the trenches of some far off land. After the sons‚ brothers‚ and husbands had left the country to serve‚ the daughters‚ sisters‚ and wives were given the task of supporting them. They made weapons and sent letters. My grandmother was
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The Smartest Guys in the Room It was a profound story happened between two giant companies‚ both of which once marked as one of the greatest companies for decades in the American History. Enron‚ started as Northern natural Gas Company in 1930‚ creatively making its way through the Great Depression by opening up the natural gas market with its lower cost and developing extensive pipeline network with the unlimited low-cost labor resource‚ fell apart due to its creative use of the SPEs and related
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Current issue: Scandals in auditing Enron Scandal 1. Introduction Accounting scandals are political or business scandals which arise with the disclosure of financial misdeeds by trusted executives of corporations or governments. These days‚ not too often‚ these scandals are splashed as headlines across media. Why? Because there are complex groups of stakeholders who might be seriously affected by the scandals. Enron scam was the most remarkable scandal in 20 centuries by their institutionalized
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Managua‚ Nicaragua Sept 28th‚ 2013 ENRON Background In 1985 Kenneth Lay merged his company‚ Houston Natural Gas‚ with Nebraska’s InterNorth to create the Enron; a company to be the biggest natural gass corporation to exist in the U.S. During the 1980’s‚ under the presidency of Ronald Raegan‚ there was a considerable lack of regulations regarding the energy markets‚ thus allowing the company to buy and sell contracts for a delivery at some time in the future. By 1990 Jeffery Skilling joined as
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mention the culture of corruption that existed at Lehman’s and the lack of controls that ultimately resulted in their downfall. An interesting finding was the acceptance of a rule‚ Repo 105‚ that allowed the company to write off and hide bad decisions. Even those unfamiliar with financial decisions will see the danger in the overuse of such a policy – something that was later denied by the CEO of Lehman’s. 2. What was the culture at Lehman Brothers like? How did this culture contribute to the company’s
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