Essays on Enron

Systemic Corporate and Individual Issues with Enron
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This case discusses the story of Enron, the infamous American energy company that December 2, 2001 filed the largest bankruptcy case in US history, totaling losses around 66 billion US dollars, forcing 4,000 unemployed, and bringing down Arthur Andersen,  its auditing company. For many of the “bad” and publicly convicted Enron executives it has been the worst nightmare come true, a personal travesty. Cliff Baxter, an Enron executive, has committed suicide and Ken Lay, after being found guilty of conspiracy…...
Enron Corporation
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  Enron Corporation, nka Enron Creditors Recovery Corporation, was an energy company with headquarters in Houston, Texas. The company was basically an energy commodities service provider that later grew into seven distinct business divisions. Its expansion included broadband services, stock trading, and futures trading. Enron had its beginning in 1931 as the Northern Gas Company.  The company was later bought and reorganized.  Along the process, its name was changed to Enron in 1985 with Kenneth Lay as its chief executive officer.…...
Corporate Transparency vs. Corporate Governance
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Throughout history, mankind has had innumerable moments of corruption and greed. From the City-State wars in ancient Greece to the organized crime during the prohibition, human beings have always been prey to the desires of wealth and power. While our current society may seem civilized compared to those eras, the shallow traits which haunted mankind then are still in play in today’s society. There are always going to be people looking for a way to get ahead of everyone else,…...
Corporate governanceCorruptionEnron
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Report on the enron scandal usa
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Enron Corporation was an American energy, commodities, and services providing company primarily based in Houston, Texas. Before it went bankrupt on December 2, 2001, Enron had employed roughly 20,000 employees and had becomeone of the world's major electricity, gas, communications, and pulp and paper firms, with claimed revenues of nearly $111 billion throughout 2000. Fortune, an American business magazine, named Enron "America's Most Innovative Company" for 6 consecutive years. The story ends with the bankruptcy of one of America's largest firms. Enron's collapse affected the lives of thousands of staff, shareholders and different investors. By 2001 end, it had been disclosed that its reported economic condition was because of a smartly coming up with an institutionalized, systematic,…...
Enron Corporation Overview
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Enron that huge company that disappeared and went bankrupt more than 10 years ago, it has made a big impact on the ethical standards which never faded through the time till now. It took Enron 16years to go from 10 Billion US Dollar assets to 56 Billion US Dollar assets, and took exactly 24 days to go bankrupt.Back in the day Enron was once ranked the 7-th largest company on the list of fortune 500 magazine and was ranked the…...
Business Risks of Enron
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Enron faces the risk of currency instability and foreign currency risk. The business nature of Enron has led the company to be exposed to additional risks that caused pressure on corporate executives to practice aggressive financial reporting practices, and intentional material misstatement. This risk awareness eventually resulted in the company bankruptcy. Enron undertook international projects relating to construction and management of energy capacity. This increased it business risk several fold. There was a strong possibility that Enron would not have…...
AccountingAuditBusinessEnronInternal ControlStock
Enron’s Collapse
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In the case of Enron's collapse, many would blame the external auditor's collusion with the management, the aggressive accounting policy it had adopted to manipulate its earnings or the Special Purpose Entity (SPE) it had created as a sham to conceal its debts. However, everything began from an internal environment with weak controls. The internal environment is the capstone of all other components within an organization's ERM framework, influencing strategy formulation, objective setting, as well as risk management. The internal…...
Jeffrey Skilling
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In 1975 Jeffrey Skilling received his B. S. from Southern Methodist University in applied science, and in 1979 received his M. B. A. from Harvard. He was hired by McKinsey & Company as a consultant and in 1987 began working with Enron to help create a forward market in natural gas (wikipedia. org). Ken Lay hired Skilling in 1990 as chairman and chief executive officer of Enron Finance Corp. and in 1991 he became the Chairman of Enron Gas Services…...
Enron and Worldcom Scandals
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1. Which segment of its operations got Enron into difficulties? The guaranteed loans that were intended to bridge the financing for investments from outside investors that could not be found would be the segment of operations that caused Enron difficulties. 2. Did Enron’s directors understand how profits were being made in this segment? Why or why not? Enron’s directors did not understand how profits were being made in this segment because they were kept out of the loop of everything…...
Enron: Smartest Guy in the Room
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Enron: The Smartest Guys in the Room is a documentary that was produced in 2005 as a reflection of the 2003, bestselling book with the same name. The documentary was written by Bethany Mclean and Peter Elkind. The film, produced by Alex Gibney is an explicit demonstration of how reputable corporations can tumble down because of illicit financial management. The film is about the Enron Company, which experienced enormous financial drains because of the scandals elicited by its top managerial…...
The failure of Enron
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1) What were the individual factors that contributed to the failure of Enron? Briefly explain two key factors. Enron collapsed in large part because of the unethical practices of its executives. Egoism (Self interest) was one of the major factors contributed to the failure of Enron. Enron’s executives put their own interests above those of their employees, company and the public, and failed to exercise proper oversight or shoulder responsibility for ethical failings. They allowed themselves to be motivated much…...
External Causes for Enron to Collapse
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 Deregulation Deregulation of the U.S. energy industry made possible Enron's emergence as a major corporation, but also ultimately may have contributed to its collapse. The company successfully seized the opportunity created by deregulation to create a new business as a market maker in natural gas and other commodities. Enron successfully influenced policymakers to exempt the company from various regulatory rules, for example in the field of energy derivatives. This allowed Enron to enter various trading markets with virtually no government…...
Enron Scandal
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Enron shocked the world from being “America’s most innovative company” to America's biggest corporate bankruptcy at its time. At its peak, Enron was America's seventh largest corporation.From the 1990's until the fall of 2001, Enron was famous throughout the business world and was known as an innovator, technology powerhouse, and a corporation with no fear. The sudden fall of Enron in the end of 2001 shattered not just the business world but also the lives of their employees. Enron gave…...
BusinessEnronStar Wars
The case study of enron
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Introduction Reputational risk is damage to the value of a company's brand name caused by negative public opinion. It can happen for a number of reasons such as directors maximize self interest which have a debilitating effect on shareholder wealth and value of the company (Wise Geek). Large companies always have a strong concern on establishing and maintaining its good name. Hundreds of millions of dollars have spent on "image advertising". When a company got a positive reputation, it may…...
Case StudyEnronFinanceReputationRisk
Enron: The Smartest Guys in the Room
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The Enron scandal, revealed in October 2001, eventually led to the bankruptcy of the Enron Corporation, an American energy company based in Houston, Texas, and the de facto dissolution of Arthur Andersen, which was one of the five largest audit and accountancy partnerships in the world. In addition to being the largest bankruptcy reorganization in American history at that time, Enron was attributed as the biggest audit failure. Enron was formed in 1985 by Kenneth Lay after merging Houston Natural…...
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