Enron‚ founded by Kenneth Lay in 1985‚ became popular based on its utilization of electricity and making it more affordable to everybody. In doing this‚ Enron became the biggest seller of natural gas in North America. By controlling the markets at this time‚ they could increase prices and create high revenue. This made Enron’s stock prices very attractive to investors. As demand decreased‚ and prices began to level‚ the stock price did the same. However‚ Kenneth Lay and CEO‚ Jeffery Skilling
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helped create a forward market for the in natural gas. Skilling impressed Kenneth Lay and was hired by Enron in 1990 as chairman and chief executive officer of Enron Finance Corp. In 1991 he became the chairman of the Enron Gas Services Co.‚ which was the result of the merger of Enron Gas Marketing and Enron Finance Corp. In 1997 he was again promoted to President and chief operating officer‚ only second to Kenneth Lay. Skilling began creating a new idea where the company didn’t really need assets
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Albert John Dunlap (born July 26‚ 1937) is a retired corporate executive. He was best known as a turnaround specialist and downsizer. The ruthless methods he employed to streamline ailing companies‚ most notably Scott Paper‚ won him the nicknames "Chainsaw Al" and "Rambo in Pinstripes". However‚ his reputation was ruined after he engineered a massive accounting scandal at Sunbeam-Oster. Dunlap believed that the primary goal of any business should be to make money for its shareholders. To that end
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Houston Natural Gas and InterNorth by Houston’s Natural Gas’s CEO Kenneth Lay. It was considered one of the world’s leading electricity‚ natural gas‚ communications‚ and pulp and paper companies before becoming bankrupted in 2001. Enron incurred in a massive debt and in order to survive Kenneth Lay hired McKinesy & CO who assigned Jeffrey Skilling whom had a background in banking and asset and liability management. Kenneth was so impressed with Skilling’s genius that he created a new division
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system that touched every coast and border of continental United States. Kenneth lay became CEO of the new company‚ which he later called Enron. Lay‚ born in rural Missouri was the son of a Baptist Minister. He Embraced the concept of Enron with a believe which many observers likened to a religious believe. The idea that drove Ken Lay and fueled Enron was that of the power of the free market system. With a PhD in Economics‚ Lay held many positions before setting off to Enron amongst which was Assistant
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Kenneth Burke’s Dramatism Life is drama; playing roles in relation to other people. Interest in the interaction of language and action. Symbolic Interactionist—Language is symbolic action. “Verbal symbols are meaningful acts from which motives can be derived (Griffin‚ p. 329).” “Human beings…are a symbol-creating‚ symbol-using‚ and symbol misusing animal (Littlejohn‚ 1978‚ p. 69).” A theory of Motives—why do people act (particularly rhetorically) the way they do? Assess motives
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E.O Kenneth Lay about her suspicions in account improprieties. After Watkins identified herself as the one who had wrote the memo she and had a personal meeting with Lay. Instead of discussing their plan of action in alerting their shareholders and stakeholders‚ Watkins only voiced concern and gave warning of what the repercussions would be for Enron. 3. Watkins only came forward with her knowledge of the fraud when they started to investigate her memo. After the meeting with Kenneth Lay‚
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CEO Kenneth Lay combined his Houston Natural Gas company with several other companies. At this time the company began growing exponentially. By the mid-1990’s the deregulation of the oil and gas industries allowed Enron to spend heavily and purchase companies as well as serving as a major supplier. This astronomical growth correlated directly with Enron’s stock price which also rose throughout this time period. When Jeffrey Skilling was hired Enron’s corruption increased. Together Lay and
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Enron’s Company Enron’s origins date back to 1985 when it began life as an interstate pipeline company through the merger of Houston Natural Gas and Omaha-based InterNorth. Kenneth Lay‚ the former chief executive officer of Houston Natural Gas‚ became CEO‚ and the next year won the post of chairman. From the pipeline sector‚ Enron began moving into new fields. In 1999‚ the company launched its broadband services unit and Enron Online‚ the company’s website for trading commodities‚ which soon
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Enron’s origins date back to 1985 when it began life as an interstate pipeline company throughthe merger of Houston Natural Gas and Omaha-based InterNorth. Kenneth Lay‚ the former chief executive officerof Houston Natural Gas‚became CEO‚ and the next year wonthe post of chairman. From the pipeline sector‚ Enron began moving into new fields. In 1999‚ the company launched its broadband services unit and Enron Online‚ the company’s website for trading commodities‚ which soon became the largest business
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