Enron‚ board governance and moral failings Gerald Zandstra Gerald Zandstra is Director of Programs at the Acton Institute for the Study of Religion and Liberty‚ Michigan‚ USA. Keywords Directors‚ Ethics‚ Responsibility‚ Corporate governance Abstract The failure of the Enron Corporation has brought attention to the roles played by the chief executive officer and other executives of the modern corporation. Its failure has also produced discussion of further regulations that will‚ it is hoped‚
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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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CASE STUDY – UNIT 1 1. Andrew Fastow is a key person responsible for the downfall of Enron. When he became the CFO in 1998‚ he came up with the plan to make the company appear in great shape by using the mark-to-market accounting practice. The company would build an asset‚ such as a power plant‚ and immediately claim the projected profit on its books‚ even though it hadn’t made one dime from it. If the revenue from the power plant was less than the projected amount‚ instead of taking the loss‚ the
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Enron Corporation: THE RISE AND FALL; ACCOUNTING SCANDAL Submitted To: Professor Bill Bristol Submitted By: Kenneth Rhodes‚ Jr. Metropolitan College of New York (MCNY) TABLE OF CONTENTS I. ABSTRACT...............................................................................................................................2 II. purpose and service....................................................................................................3 III. HistorY.............
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What is Corporate Governance? Corporate Governance is a generic concept‚ and in most cases it is defined by its objectives. Corporate Governance can be defined and analyzed by two terms. The first was introduced by the Organization of economic Corporation and Development (OECD 1999). OECD defined “Corporate Governance as a system in which business corporations are directed and controlled. The Corporate Governance structure specifies the distribution of rights and responsibilities among the
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Natalie Rauschenbach Lupus Nephritis Abstract Systemic lupus erythematosus is the most common form of lupus ranges from mild to severe. Lupus is an autoimmune disease which means the person’s immune system cannot tell the difference of healthy tissue and infected tissue. This issue confuses the body and instead of creating antibodies to destroy the damaged/infected tissue and the body destroys the person’s healthy tissue. The study of focus determines whether current treatments for lupus
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closely related forms: individual‚ institutional‚ and systemic. Individual racism consists of overt acts by individuals that cause death‚ injury‚ destruction of property‚ or denial of services or opportunity. Institutional racism is more subtle but no less destructive. Institutional racism involves polices‚ practices‚ and procedures of institutions that have a disproportionately negative effect on racial minorities’ access to and quality of goods‚ services‚ and opportunities. Systemic racism is the basis
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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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Systemic Injustices: Life Imprisonment‚ Disparities for People of Color: In the United States‚ the shadows of the justice system‚ more often than not‚ obscure the path to equality‚ which casts a wall over the lives of people of color‚ who find themselves caught in a system of inequality. As individuals try to navigate this complicated labyrinth of the American Legal System‚ they encounter multiple barriers. These barriers can obstruct access to fair and equal justice. They show systemic flaws that
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The collapse of Enron case study Q1. The key stakeholders involved in‚ or affected by the collapse of Enron are: employees and retirees‚ thousands of them lost their jobs and the investment; the executives: Kenneth Lay‚ Jeffrey Skilling and Andrew Fastow they sold significant blocs of company stock‚ have conflicts of interests; government figures‚ Lay had close personal tie with the Bush family‚ Enron’s efforts influence policy making; regulatory authorities: Commodities Futures Trading Commission
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