Enron: The Smartest Guys in the Room A white-collar crime by definition is a crime that is committed by individuals of higher status. It is not necessarily a violent crime‚ but could be depending on the situation. An individual who works in a professional environment‚ such as the government or corporation tend to take advantage of employees and manipulate them into thinking their practices are legitimate. Some examples‚ of white-collar crimes include fraud‚ embezzlement‚ insider trading‚ and other
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Based in Houston‚ Texas an American energy‚ commodities‚ and services company named ENRON CORPORATION was Ranked number 7 on the fortune 500 list in 2000‚ it was one of the most famous and largest integrated natural gas and electricity companies in the world. The company went bankruptcy on December 2‚ 2001. But before that it marketed natural gas liquids around the world and was working as one of the biggest natural gas transmission systems in the world‚ with transmissions over a massive area of
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Branding‚ Labeling‚ and Public Humiliation Throughout history‚ people have been labeled‚ branded‚ and tortured as a form of punishment and public humiliation. Humiliating the person who committed a crime was meant to serve as a warning and to scare people away from committing the same crime. Petty crimes that happen commonly today received the worst punishment back when the branding and labeling of criminals was popular. The punishment criminals received was often cruel and torturous. Early Puritan
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In this reading the three tools that stuck out to me were‚ “Switching tenses‚” “Inflexible insistence on the rules‚” and “Humiliation” (Heinrichs 180). In her essay‚ Toi Derricotte describes‚ what one can consider to be‚ a miserable childhood in which she received very little love from either of her parents. She describes not having much interaction with her mother‚ and longing for the approval from her father. It is in the relationship with her father that the reader can identify the three tools
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The Humiliation of Elizabeth Bennet And Mr. Darcy Susan Fraiman in her essay “The Humiliation of Elizabeth Bennet” argues that Elizabeth Bennet‚ the protagonist of Jane Austen’s novel Pride and Prejudice‚ is disempowered when she marries Fitzwilliam Darcy who succeeds Mr. Bennet as controlling literary figure. Fraiman claims that Elizabeth is a surrogate-son to her father trapped inside her female body during an age when gender roles were rigorously fixed. Judith Butler in her essay of 1990
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Enron: Leadership without Ethics and Practical Execution Enron‚ once one of the largest energy public companies globally‚ achieved a $65 billion asset volume but only took 24 days to go bankrupt. Initially‚ its main service is extracting natural gas and manufacturing energy-using products‚ but the excessively aggressive and benefit-oriented type of operation makes the company create lots of so-called "innovative" investment department and financial products. All these activities played as the
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Case 1.4 AMRE‚ Inc. 1. Generally‚ ethics refer to moral principles and values. Random House Webster’s College Dictionary notes that ethics are “the rules of conduct recognized in respect to a particular class of human actions or governing a particular group‚ culture‚ etc.” An individual ’s ethics generally define what that individual believes to be right and wrong. Professional ethics are typically expressed by a code of conduct adopted by an organization that represents a profession. Professions
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The Enron Accounting Scandal Presented By: Jennifer Buondonno Nirmala David Robert Pufky Matt Rollings ENRON Page 1 of 27 Table of Contents Executive Summary……………………………………………………………..3 (I) Introduction to the Enron case and the organizations involved……. 5 Background information & industry…………………………………………….. 5 Organizations and officers involved……………………………………………..6 Accounting firm and partners involved………………………………………….8 Enron’s industry………………………………………………………………….. 9 Enron’s injured parties……………………………………………………………
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From the Desk of: Imran Omer Case Study: WorldCom From its beginnings as a long distance call player to handler of Internet data traffic‚ WorldCom was a spectacular firework in the sky before it crashed out as one of the biggest bankruptcies America has witnessed in its corporate history. WorldCom carried more international voice traffic than any other company. It carried a large amount of the world‟s Internet traffic. WorldCom owned and operated a global IP (Internet Protocol) backbone that
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The Enron Scandal One of the most popular business bankruptcies and collapses known to date is that of the Enron Corporation. Enron‚ once known as "America ’s Most Innovative Company" by Fortune Magazine six straight years from 1996 to 2001. Enron seemed to be doing very well until the summer of 2001 generating a lot of cash and new businesses‚ but in October of 2001 Enron was forced to disclose that their accounting practices had been very creative‚ and failed to follow generally accepted accounting
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