Enron Corporation‚ a major billion dollar company‚ was thriving at its highest level back in the year of 2000. Enron employed approximately 22‚000 associates and was named “America’s most innovative company” by Fortune. However‚ under all of the bliss‚ revealed was a substantial amount of corporate fraud and corruption. The Enron scandal involved both illegal and unethical activity. Enron’s executive chose deception of the stakeholders and short-term financial gains for themselves. They were
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Cheating Pretend you are a teacher. A student comes to you in confidence and admits that he has cheated on his SAT’s. He got the answers from one his friends who has sold the answers to other students. You understand that this student lives in poverty and can not afford the expensive classes other wealthier students take to achieve high marks on the SAT. The student says that it isn’t fair that certain students have an advantage over him. Among the schools that have accepted this student are
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Jeffrey Skilling Biography In 1975 Jeffrey Skilling received his B.S. from Southern Methodist University in applied science‚ and in 1979 received his M.B.A. from Harvard. He was hired by McKinsey & Company as a consultant and in 1987 began working with Enron to help create a forward market in natural gas (wikipedia.org). Ken Lay hired Skilling in 1990 as chairman and chief executive officer of Enron Finance Corp. and in 1991 he became the Chairman of Enron Gas Services Co. Also‚ he was
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After hearing bits and pieces about the “Enron scandal” over the years‚ it was interesting to learn about what specifically happened to the global giant company and how it reached its demise in the early 2000s. It seems as though Enron’s downfall had largely to do with the corporate culture instilled within the company from its inception in 1984. The idea of “get big fast” encouraged employees to do whatever they deemed necessary to drive earnings‚ even if it meant leaving ethics at the door. The
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Even though Edward Albee’s play‚ Who’s Afraid of Virginia Woolf? takes place in one living-room setting‚ the highly acclaimed film adaptation‚ directed by Mike Nichols‚ has accommodated for different settings including the lawn‚ porch‚ various parts of the house‚ and even a roadhouse. Though it is common for such stage direction to “open up” the screenplay‚ the inclusion of different settings by screenwriter Ernest Lehman seems to preserve the feeling of seclusion as the play does‚ while still allowing
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John D Rockefeller of New York is best known today as one of the most successful businessman in American history. Like most successful figures in history‚ Rockefeller was not born into his fortune. Originally a New York native‚ young Rockefeller relocated to Cleveland‚ Ohio in the 1860s‚ where he soon became involved with the oil fields in western Pennsylvania. After spending some time in the business‚ Rockefeller decided that it was too risky and his talents would be better suited in the refining
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Worldcom was the second largest long distance phone company in the United States. The former CEO Bernard Ebbers was sentenced to twenty five years in prison due to increasing revenue the wrong way to increase earnings. This company had the largest bankruptcy filing in the United States. Today‚ the Worldcom accounting scandal is known as one of the worst corporate white collar crimes in history. What were some psychological factors that led to this crime? Financial Pressures from competitors
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The Great Recession‚ as some would call it‚ has affected myself and my family greatly. Before the stock market collapse in December on 2007‚ I never paid any attention to the stock market. I saw numbers going up and down on the news‚ but never understood the implications it truly would have. In 2006 my grandfather purchased a tool company in Dayton‚ the company had long term lucrative government contracts‚ all it needed was capital and it would run its self. My grandfather was a person who couldn’t
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The results of coal mining are destroying the environment. Regulators are trying their best to get coal mining companies to put money aside to clean up the devastating mess they have made‚ so that the tax payers do not have an outrageous $1 billion bill to pay. Many companies claim that their cleanup plans are well funded‚ but many believe this to be false because the demand for coal is low and many companies still remain bankrupt. The biggest problem is with the business Alpha Natural Resources
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Orange County Fire Authority is one of the biggest departments in southern California. It was founded as Orange County Fire Department in 1980 and declared bankruptcy in December 1994. Then three months later in March 1995‚ it reopened as Orange County Fire Authority with a new Fire Chief. It now has seventy-one fire stations‚ four helicopters‚ a wildland unit‚ and a hazmat unit. It has over one thousand full-time firefighters‚ two hundred reserve firefighters‚ covering twenty-three cities‚ and protecting
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