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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could have prevented the fall of Enron. First of all‚ if the board of directors made the right strategies for Enron rather than created hundreds of SPEs to remove assets and debts off balance sheet‚ the picture of Enron could have made a difference. Secondly‚ if the audit committee of Enron could point out all those aggressive and risky accounting treatment and propose solutions‚ then the afterward damages could be eliminate or at least minimized. c. The BOD of Enron should have known about the risks
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Enron: The Smartest Guys in the Room / Lack of Ethics Enron at one time was a Fortune 500 company‚ but in truth it was just a fallacy and a lie for what it truly was‚ an ethically bankrupt company that eventually became a bankrupt company. Henry Taylor‚ a 19th century statesman wrote “Falsehood ceases to be falsehood‚ when the truth is not expected to be spoken”. Enron senior management gets a failing grade on truth and disclosure. The purpose of ethics is to enable recognition of how a particular
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Enron Case Study XXXXX XXXXXXXXX State College Enron Case Study Enron was a corporation founded in 1985‚ when a merger combined Houston Natural Gas and InterNorth (Thomas‚ 2002). Throughout the first five years of Enron’s existence‚ they had many struggles. According to Salter (2005)‚ the first years had many “near death” experiences. Eventually Enron was able to prevail over their many “near death” experiences. In 1989‚ “Enron locked in its first fixed price contract to supply natural
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wife and children‚ was a company created in 1998 by Enron ’s CFO‚ Andrew Fastow‚ to buy Enron ’s poorly performing stocks and stakes and bolster Enron ’s financial statements. Fastow proposed in October 1999 to Enron ’s finance Board the creation of LJM2 Co-Investment L.P. Fastow would act as general director of a much larger private equity fund that would be funded with $200 million of institutional funds. The question of Fastow’s dual role as Enron ’s CFO and LJM2 ’s general director was not viewed
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The Enron scandal A brief on Enron’s history Enron was formed in 1985 by Kenneth Lay after merging Houston Natural Gas and InterNorth. In the early 1990s‚ he helped to initiate the selling of electricity at market prices‚ The resulting markets made it possible for traders such as Enron to sell energy at higher prices‚ thereby significantly increasing its revenue. As Enron became the largest seller of natural gas in North America by 1992‚ Enron pursued a diversification strategy
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Their Eyes Were Watching God (Reaction Paper) Zora Nale Hurston’s “Their Eyes Were Watching God” is a story of repression and possession by men over women in black Southern communities‚ when black men used to treat their women as if they were property. One of the main themes of this story was finding love. Janie thought that just because she married Logan she would eventually grow to love him. Now a lot of us have had a relationship where we thought we would grow to love someone
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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 became the largest business site in the world. About 90 per cent of its income eventually came from trades over Enron Online. Growth for Enron was rapid. In 2000‚ the company’s annual revenue reached $100 billion US. It ranked as the seventh-largest
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Business Ethics Enron Case 1. Using the options market more for gambling purposes to cover loss rather than insurance. The culture was if one of their employees was making a lot of money they didn’t ask questions they didn’t look too deep into where the money was going they eventually gave these people more money to spend and use‚ what they realized later on was that that employee wasn’t very good. They were just lucky one time. They made some losses and had to get that loss back so they put
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Reaction Paper August 30‚ 2014; Saturday; 1:00pm until 3:00pm. Our group went to ZAEC Hospital which is located at the San Jose Road. Where we did our requirement to do a manual processing to produce a radiographic film that is a visible image. Before we accomplished our task‚ we started to pick or choose who will be the one who we should expose or examine and who will be the operator in the Operating Console. And also planned who will be the one would do the next
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