E. Boos – Week 2 – Assignment February 17‚ 2013 The Enron and WoldCom Scandals ENRON 1. The segment of Enron’s operations that got them into difficulties had several parts. They published misleading financial reports. They could not meet their bridge financing commitment with Barclay Bank because outside investors were not found. Because of this‚ they restated activities of JEDI and Chewco SPEs so they could be retroactively consolidated into Enron’s accounts. The SPEs
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Chilean Copper Mine Collapse On August 5‚ 2010 at San Jose mine in northern Chile a cave collapsed trapping 33 miners more than 2000-feet underground (Weik‚ n.d.). This should have been just another day‚ a normal 12-hour shift at work‚ but it instead it turned into a 69 day nightmare. Minors did not know it would be the last time for nearly two months they would see the light of day. Miners‚ much like fire fighters and policemen‚ know there is a risk in the work they do. Their families also know
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Jonathan Drago‚ Annette Englehart‚ Matthew Parks‚ Brandon Wagner Phil 251 Professor Wilson 15 January 2013 Maccabiah Bridge Collapse Recap The Maccabiah bridge collapse occurred on July 14‚ 1997. This tragedy happened in Israel. It took place in the town of Aviv. The bridge collapsed over a large river called the Yarkon River. The bridge was constructed primarily of wood material. Also‚ some of the bridge was assembled of rusty metal pipes that were tied together with wire
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ENRON AND THE FREE MARKET SYSTEM 1. ABSTRACT The Enron scandal was a financial scandal that was revealed in late 2001. After a series of revelations involving irregular accounting procedures bordering on fraud‚ perpetrated throughout the 1990s‚ involving Enron and its accounting firm Arthur Andersen‚ it stood at the verge of undergoing the largest bankruptcy in history by mid-November 2001. Enron filed for Bankruptcy on December 2‚ 2001. 2. FREE MARKET SYSTEM A free market describes a theoretical
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Explain the key reasons for the collapse of the Qing Dynasty. The Qing Dynasty’s collapse was due to three main influences‚ with underlying reasons involved in each. The first being foreign intervention related strongly to militarism‚ gunboat diplomacy‚ imperialism and the rise of unequal treaty systems. The second influence was China’s failure to reform and uprisings‚ such as the boxer rebellion and lastly economic decline. These three factors ultimately resulted in the downfall of the dynasty
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Knowing Your Audience: The Chilean Mine Collapse Knowing your audience is an important factor to consider when there is information to be released to a public forum. Special considerations should be taken to ensure that the message is communicated effectively. The sender must recognize any potential barriers to communication that may hinder the audience from receiving the intended message. By recognizing who the audience is composed of‚ the sender is able to cater the message accordingly
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Enron is frequently given as an example of creative accounting. It is also given as a good example of accounting fraud and insider trading. This is a good example of creative accounting taken too far - not many would disagree that it was accounting fraud‚ although some would say they were just unlucky to get caught. after all‚ the auditors were Arthur Anderson‚ at the time one of the most respected auditing firms. Creative Accounting – Example 1 – Creating multiple trading entities The creative
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of the Enron Scandal The Enron scandal is one that left a deep and ugly scar on the face of modern business. As a result of the scandal‚ thousands of people lost their jobs‚ some people lost their entire pensions‚ and all of the shareholders lost the money that they had invested in the corporation after it went bankrupt. I believe that Kenneth Lay‚ former Enron CEO‚ and Jeffrey Skilling behaved in an unethical manner without any form of justification‚ but the whistleblower‚ former Enron vice president
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Chilean Mine Collapse When handling a tragic event such as this there are many things to take into consideration. There are going to be many different people that are going to be affected by this catastrophe. First and foremost is the family of the employees that are trapped in the mine. There biggest concern would be to know that their loved ones are ok and are going to be rescued. In a case like this you would want to give the family a positive message and reassure them that the company is
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Enron: The Smartest Guys in the Room Extra Credit for Accounting II By: Grace Lindley ENRON: The Smartest Guys in the Room is the story of one of history’s greatest business scandals‚ in which top executives of America’s seventh largest company walked away with over one billion dollars while investors and employees lost everything. Based on the best-selling book The Smartest Guys in the Room by Fortune reporters Bethany McLean and Peter Elkind‚ and featuring insider accounts and
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