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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A Scandal of Bias and Fact Over the past few years the NSA (National Security Agency) has been collecting massive amounts of phone call data from Verizon without the public’s knowledge. This information has just come to the public’s attention earlier this year‚ and has been covered by many news sources. Some sources stick strictly to the facts of the story and nothing more. However‚ other sources tend to focus more on their own bias rather than talking about the actual events that happened. There
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Make no mistake about it‚ but some athletes never return from injuries similar to the one as Adrian Peterson’s ACL tear. If someone would have said that Peterson would be up for the 2012 MVP‚ everyone would have just laughed. Everyone but Peterson himself would have told you that it is impossible for him to be a contender. Future Hall of Fame Minnesota Vikings’ running back rewrote medical textbooks‚ anatomical knowledge and clinical reason during the comeback season of his reconstructive surgery
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In this essay I am going to look at the significance of the Watergate scandal and the effects that it had on America. I will also discuss what the importance of investigative journalism is and the role that it has in society. The chain of events known as Watergate was an American political scandal in the 1970’s which ultimately led Richard Nixon to resign as president of the United States. The effects of the Watergate scandal did not end with the resignation of President Nixon‚ the general public
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The Reconstruction Era was the years following the Civil War which lasted from 1865 through 1877. During this period‚ the Confederate states were allowed back into the Union and the South was in the process of being rebuilt after the devastation caused by the conflict. After the Civil War‚ African Americans were facing a new world. They were finally allowed rights they never had before: however‚ could the federal government have done more? However‚ they really couldn’t have. At the time‚ the federal
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and many aspects of corporate governance in America. 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. The Enron scandal is the most significant corporate collapse in the United States since the failure of many savings and loan banks during the 1980s. This scandal demonstrates the need for significant reforms in accounting and corporate
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definitions‚ such as: bribery‚ conspiracy‚ obstruction of justice‚ phone tapping‚ tax fraud‚ etc. However the above all watergate is synonymous with abuse of power. The exact reasoning a distraught economy four years two years after this scandal took place. The watergate scandal is one of the most infamous crimes to date in U.S history. The break-in took place early in the Watergate building in Washington D.C. one morning on June 17‚ 1972. There were several burglars arrested who allegedly
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Introduction 2 2. History 3 a. Formation 3 b. Operations 3 c. The Success 4 d. All that glitters is not gold 4 e. The Fraud 4 3. Products 5 4. Enron Scandal – The Company Fraud 8 f. What Happed? 8 5. Techniques used in the Company Fraud 9 g. Revenue Recognition 9 h. Mark-to-market accounting 9 i. Special Purpose Entities 10 j. Executive
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The Enron Scandal One of the most popular business bankruptcies and collapses known to date is that of the Enron Corporation. Enron‚ once known as "America ’s Most Innovative Company" by Fortune Magazine six straight years from 1996 to 2001. Enron seemed to be doing very well until the summer of 2001 generating a lot of cash and new businesses‚ but in October of 2001 Enron was forced to disclose that their accounting practices had been very creative‚ and failed to follow generally accepted accounting
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The Olympus Scandal Hot Potatoes and Flying Funds Summary This paper describes the case of Olympus‚ a Japanese manufacturer of optic equipment‚ at which in early 2012 a scandal was uncovered which was soon dubbed to be one of the largest loss-concealment schemes of Japan. In the 1990’s‚ Olympus incurred significant losses on financial investments made. These were subsequently hidden with the aid of investment companies by shifting the investments around. In the 2000’s‚ these losses were
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