Case 9 Enron - 928 Words

Case 9: Enron; Questionable Accounting Leads to Collapse Bruce Smith Minnesota School of Business BS430 Business Ethics MR. Morris November 25, 2012 1. 2. 1. How did the corporate culture of Enron contribute to its bankruptcy? Effective leaders are good at getting followers to their common goals or objectives in the most effective and efficient way; unfortunately for Enron, in the end Ken Lay and Jeffery skilling were too focused on profits that nothing else mattered. In the beginnings of the company Ken and Jeff were very efficient in growing their company from a small oil and gas pipeline firm into one of the largest entities in its industry. As the company grew and so too did the demands of upper management.†¦show more content†¦The party with the highest level of contribution to the demise of Enron would have to be their external and internal auditing firm Arthur Anderson. The primary responsibility of any auditing firm is to ensure the accuracy and validity of a company’s financial statements. Investors and stakeholders both internally and externally use this certified information to make critical business decisions. Arthur Anderson willfully partook in the scandals and subsequently w ent from the largest accounting firm in the world to dissolution in a matter of three years. The unfortunate common denominator for all of these external companies is the level of influence Enron had on their profit margins. Enron was almost 10% of Vinson amp; Elkins annual revenue; Enron held similar if not greater margins with many of the other companies that helped with all of the unethical decisions (Baird, Jackson, amp; Herndon, 2013). The threat of loosing the profits associated with Enron’s business clouded the ethical judgment of everyone that did business with them. 3. What role did the company’s chief financial officer play in creating the problems that led to Enron’s financial problems? From what I understand Andrew Fastow was hired for the sole purpose of developing an elaborate network of special purpose entities to cover up over $1 billionShow MoreRelatedEnron and Worldcom Case Study1225 Words   |  5 PagesEnron and WorldCom Case Study This report is based on the demise of Enron Corporation and WorldCom. Both the firms are demised due to the ethical lapses. These ethical lapses come into existence when managements of the firm, uses unethical practices to accomplish the goals of the firm. Maintaining financial and accounting standards in the business practices are necessary. 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Moreover, cause when Enron come to the long term contract, they would assumed that there were long term declines in spot prices (Page 6, journal of economics), there would be the risk of loss if there were the increase in the price of gas in the future and it does not recognize in the financial statement; therefore, to make the income statement made more sense in economics term, Enron had created an accounting structure that help the company to stableRead MoreThe Rise and Fall of Enron1170 Words   |  5 PagesThe Enron Corporation was founded in 1985 by Kenneth Lay and based in Houston, Texas. Enron was known as one of the world’s leading electricity, natural gas, communications and pulp and paper companies. By the late 1990s Enron was considered one of the country’s most groundbreaking companies constructing power plants, gas lines, buying and selling electricity and gas, and partaking in a unique trading business; creating whole new markets for oddball commodities . 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Containment Strategies During The Cold War - 1084 Words

Paul Gornati Tibbles / Schreiber English 6,7 / American Cultures 10 27 February 2017 Containment Strategies in the Cold War During the Cold War, communism was spreading. The three presidents Truman, Eisenhower, and Kennedy needed a way to stop it from spreading. All Three turned to the idea of containment. Ayers, et al. defines containment as a Policy by George F. Kennan, that started in the late 1940’s and was created to stop the spread of communism by providing economic aid, and military aid to countries opposing the Soviets. All three cold war presidents had similarities and differences in the way they dealt with stopping the spread of communism. All of them used the idea of containment, but Truman focused more on economic aid,†¦show more content†¦In 1949 the US and six other counties joined the original five countries to form the North Atlantic Treaty Organization, otherwise known as NATO. â€Å"According to the North Atlantic Treaty Organization, an armed attack against one of the member nations would be considered an attack against all. NATO is how Truman used Military Use. Those policies, plans, and organizations all played a part in how Truman helped contain communism. But Eisenhower did things a little differently. The Next President to deal with the spread of Communism was Dwight D. Eisenhower, the thirty-fourth president of the US. In the Eisenhower Doctrine Eisenhower takes about an action that he proposes. â€Å"It would, first of all, authorize the United States to cooperate with and assist any nation or group of nations in the general area of the Middle East in the development of economic strength dedicated to the maintenance of national independence.† (Eisenhower) That is reasoning of economic aid to other countries. In the Eisenhower doctrine he also states that this action would allow the executive to undertake in the same region programs of military aid, and cooperation with any nation which needs the military aid. After Eisenhower became president in 1953, he began to think of a theory called the domino theory. 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Endless Summer Nights Essay Example For Students

Endless Summer Nights Essay I saw him again. A couple of houses down from our own little bungalow, a family of four was also spending the summer on the island of St. Croix. I yelled at my 12-year old brother to hurry up and slung my backpack over my left shoulder. Ive noticed a guy around my age down the street. I didnt know his name but I heard Dave, my step-dad refer to his family as the Williams Family. I watched as Jerry came running out of our beige summerhouse and leaping down the few concrete steps. What took you so long? I couldnt find my trunks, he replied. We will write a custom essay on Endless Summer Nights specifically for you for only $16.38 $13.9/page Order now Geez, you couldve worn something else. Give it a rest, DeLanna. Well, hurry up. I wanna get there before it gets too crowded, I snapped at my brother. I quickly walked ahead of him while he slipped his runners on his bare feet. It was only nine in the morning yet the sun was already beating down on my bare arms. I scolded myself for not lathering sunscreen on before heading out to the beach as Jerry and I trudged along the narrow path towards the shore. I wish I hadnt brought such a heavy load of books. The sun was really taking a toll on me. I looked over my shoulder and gave my brother a sign to indicate that we were almost there. With a newfound energy, Jerry ran all the way there while I rummaged my backpack for the beach towel I brought along. I spread it out on the warm sand and took out the book I had been reading yesterday. I flopped down on my stomach and made myself comfortable, using my backpack as a pillow. While I searched for the page number I was on, my brother was already making a big noise, hollering for me to join him in the water. I ignored him and started reading. After about half an hour, I was so deeply absorbed in my book that I didnt notice the red Frisbee that landed at my side. A deep, friendly voice brought me out of my trance and startled me so much that I gave a small shriek and dropped my book. Hey, sorry about that, the voice apologized. It was then that I looked up and found myself staring, open-mouthed, at the guy I had seen several times before. He smiled and said, My names Josh. Ive seen you around. A little voice inside my head was telling me to say something back. Following its advice, I racked my brain for something to say. Instead a weird grunting sound made its way from my throat and escaped my lips. The smile left Joshs tanned face. Are you okay? Concern filled his voice. My throat released another grunt, before I could stop it. I felt my ears burning and the flush creeping up my neck. Josh! Were leaving! I heard a mans voice shout. Josh turned back to me and I  struggled to say something more than the sound of a pig letting out air. So Ill be seeing you around? Josh asked with a smile. Against my will, I grunted again. This time I grunted so loudly that a couple of people nearby turned and looked at me. I wished more than anything in the world that I could just sink down into the sand. Josh gave me a puzzled look, then turned and ran to catch up to his dad. When I was sure that he was out of sight, I let out a low moan and buried my face in my backpack. Who was that? Jerry questioned a couple minutes later. Who was who? I asked casually, although my voice was etched with nervousness. The guy who threw that Frisbee and talked to you, he replied as he bit into an apple. .ube6ed22a42b6b2002281140c6fee18b6 , .ube6ed22a42b6b2002281140c6fee18b6 .postImageUrl , .ube6ed22a42b6b2002281140c6fee18b6 .centered-text-area { min-height: 80px; position: relative; } .ube6ed22a42b6b2002281140c6fee18b6 , .ube6ed22a42b6b2002281140c6fee18b6:hover , .ube6ed22a42b6b2002281140c6fee18b6:visited , .ube6ed22a42b6b2002281140c6fee18b6:active { border:0!important; } .ube6ed22a42b6b2002281140c6fee18b6 .clearfix:after { content: ""; display: table; clear: both; } .ube6ed22a42b6b2002281140c6fee18b6 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ube6ed22a42b6b2002281140c6fee18b6:active , .ube6ed22a42b6b2002281140c6fee18b6:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ube6ed22a42b6b2002281140c6fee18b6 .centered-text-area { width: 100%; position: relative ; } .ube6ed22a42b6b2002281140c6fee18b6 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ube6ed22a42b6b2002281140c6fee18b6 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ube6ed22a42b6b2002281140c6fee18b6 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ube6ed22a42b6b2002281140c6fee18b6:hover .ctaButton { background-color: #34495E!important; } .ube6ed22a42b6b2002281140c6fee18b6 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ube6ed22a42b6b2002281140c6fee18b6 .ube6ed22a42b6b2002281140c6fee18b6-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ube6ed22a42b6b2002281140c6fee18b6:after { content: ""; display: block; clear: both; } READ: Some Poets Attitudes To Love EssayOh. Uh, I dont know. Some guy. I was grateful when he dismissed the subject and asked for a sandwich. In my backpack. Front pocket. Get me one too. After our lunch, we packed up and headed home. I spent the whole walk pondering about what a fool I had made out of myself in front of Josh. What happened? I kept asking myself over and over again. I spent the rest of the day thinking about that morning. I couldnt even focus on finishing my book. Finally, I fell into a fitful sleep. My dreams were full of red Frisbees, grunts and Josh. I woke up with the sunlight streaming through my open window. I yawned and lazily made my way to the smell of pancakes and bacon. My mother was in the kitchen cooking up a storm. I said good morning, and went back to my room. I was deciding on whether to wear my halter-top with a pair of cut-offs or a cargo skirt, when I heard a knock on my door. Come in. I knew it was one of my parents, because Jerry never bothered to knock. He would just barge in like he owned the place. It was Dave. Hey, what are your plans for the day? Nothing much. Good, he said, grinning. I wanted to take you and Jerry in town today. I saw something there yesterday that you might like. Sure. Is mom coming? No, shes trying to catch up to a deadline. Shes gonna be on her computer the whole day. My mom is a fashion magazine editor. Ive always thought that her job was fun except that it required a lot of her time. Dave and I agreed on leaving right after breakfast and I settled on the white jean cut-offs with my blue halter-top. I hurried to the bathroom and quickly took a shower, where I didnt get myself any cleaner, but I got myself wet. The stores in town were small and cramped closely beside each other. I glanced at Dave and tried to read his expression. During the whole drive,  stared at me so deeply the whole time that I couldnt meet his gaze. I was more comfortable when we got back to chatting. When I told him I had to go, he offered to walk me home, throwing in an offer to carry my guitar for me. I just smiled and started walking, hoping he would get the idea that I accepted. My thin, spaghetti-strapped, lavender dress wrapped around my body as a gust of warm wind blew my shoulder-length, strawberry blonde hair back. Josh fell in step beside me, and I couldnt help but notice his lean, muscular body. Standing beside him, I could look him straight in the eye. When we reached my house, we stood awkwardly for a minute or two, shyly looking at each other. I had a great time, DeLanna, he finally said. Me too, I replied with a smile. Um, so you wanna get together again tomorrow? Sure, I said, suddenly feeling nervous. He put his hand on my cheek then, said goodnight, and was gone before I could reply. He left me still standing in front of my house, my hand on my cheek, the spot tingling at his first touch. I stood there for what seemed like an eternity, watching him walk down the street until he was out of sight. The night went by in a blur and so did the rest of the summer.  Endless Summer Nights