Trip Winkel Finance 303 May‚ 27 2005 Dr. Namorato The Enron Scandal Enron was established in 1930 as Northern Natural Gas Company and joined with three other companies to undertake this industry. The four companies eventually began to break apart between 1941 and 1947 as a result of a public stock offering. In 1979‚ Northern Natural Gas was placed under new management when it was bought by InterNorth Inc. In 1985‚ Kenneth Lay‚ CEO of Houston Natural Gas Company devised a transaction
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Enrons Fall Kenneth Lay – CEO Auditors – Arthur Anderson Jeffrey Skilling – Consultant‚ Hired as a young consultant‚ as due to deregulation‚ Enron incurred massive debts. Jeffrey skilling was hired to come up with innovative new ideas. His revolutionary idea for Enron was to ‘create a gas bank in which Enron would buy gas from a network of suppliers and sell to a network of consumers‚ contractually guaranteeing both the supply and the price‚ charging fees for the transactions and assuming the
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The atmosphere at Enron was highly competitive. Enron rewarded cleverness and pushing the envelope. Enron’s former president and CEO Jeffery Skilling encouraged employees to be "independent‚ innovative‚ and aggressive.") The aggressiveness of the culture at Enron was increased by a rigorous and threatening evaluation process for all employees that became known as "rank and yank." "Enron’s employees annually ranked their fellow employees on a 1 (best) to 5 (worst) scale. Each of the company’s divisions
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Chilean Copper Mine Collapse BCOM/275 Business Communication & Critical Thinking September 30‚ 2013 Chilean Copper Mine Collapse When an unforeseen tragedy comes into a small community‚ the devastation can cause havoc. The members of the Chilean society found themselves with more questions than answers when word spread there had been a collapse in a local mine. The families of the trapped mine workers and employees affected were in need of guidance. When communicating the messages to Chilean
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to consider‚ not only the ones mentioned above. When you want to deliver a message to a crowd and you want effective communication‚ it is very important to take this in consideration in order to have effective listeners. In the Chilean mine collapse case some factors to consider before communicating the incident to the public are the family members of the trapped miners‚ the mining business itself‚ other miners from other businesses‚ copper industry‚ and the country of chile. What effect will the
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Rosa Maldonado Vera Why did the USSR Collapse in 1991? In December of 1991‚ the Soviet Union broke down into fifteen separate countries. The west saw this collapse as a victory for freedom‚ a triumph of democracy over totalitarianism‚ and evidence of the superiority of capitalism over socialism. The United States were glad that its enemy was brought to its knees. The Cold War‚ which had confronted these two superpowers since the end of World War II‚ had ended. The breakup of the Soviet Union
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1. The collapse of Enron has cast revealing light not just on the corruption of business leaders‚ auditors and politicians but on the appearance of deregulated capitalism as it has emerged from the stock-market bubble. It has highlighted‚ too‚ the vulnerability of the broad layers whose pensions are tied up in the savings routine so ingrained in the economy. This failure has affected not only Enron’s employees but tens of millions of holders of 401(k) and defined-benefit retirement schemes. Enron’s
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ENRON Background and Overview: Enron was famous in the business world. Known as the innovator‚ technology powerhouse and a corporation. It was named the America’s most innovative company for six years by Fortune’s Most Admired Companies survey. The fall of Enron in 2001 shattered not just the business world‚ but also the lives of the employees and the people who believed that their soar to greatness was genuine. It turns out to be the America’s biggest corporate bankruptcy. Before the
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Is America headed for an economic collapse? By: John Shepherd America’s collapse Is America headed for an economic collapse? Research indicates the possibility of an economic collapse because of the exorbitant national debt‚ loss of jobs‚ and the falling stock market. History can tell a story that many people overlook. People tend to repeat their mistakes and if we take a look at what is in the past we can predict what the future may hold. In the 1930’s the United States faced an economic
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A business model of the times The Enron bubble was a prime example of the dominance of speculative finance in business. V. SRIDHAR MORE than two months after Enron‚ the seventh biggest corporation in the United States‚ filed for bankruptcy‚ the stench of scandal refuses to die. Shocking revelations about the company’s modus operandi continue to pour in. Public and media attention was initially focussed on the company’s close ties with the political establishment and the policy-making bureaucracy
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