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Enron – The Smartest Guys In The Room

            
             "Enron" as a word has been used to denote an era of such a company. The company is being a striking example for a collapse, which was purely due to corporate and individual greed and that today it has lead to strong business problems all around the world. Fraudulent activities inside a company can be managed and kept away from the stakeholders eye only for a certain amount of time, however it comes to the lime light one fine day. Enron has been continuously trying to hide their actual numbers and always tries to maintain the outer look of the company so as to gain profits overall. Finally when Enron had to file a bankruptcy the entire company was put into investigation and as a result the findings has made a huge knock over the business today. .
             Background.
             In 1985 after the merger with Houston Natural Gas and InterNorth, Kenneth Lay founded the company "Enron". At the time of merger the company was seen to be in debt and hence a financial consultant name Jeffery Skilling was hired and was asked to come up with a solution to get rid of this massive debt. Mr. Skilling came up with an idea where the company can opt to have different suppliers and buy gas from them and in turn sell to the consumers. Lay was way impressed by this idea, which lead Mr Skilling to run a separate division that he created and that was named Enron Financial Corps. From here Enron took away the market and started to dominate the natural gas business by adding more and more contracts with more supplies and new customers. .
             Enron was soon named the most innovative company of America by the Fortune Magazine. The company was also soon seem to take over the investment world with their newer technology and the business invention (Thomas 2002). Soon in 1999 Enron went completely online as most of the company income was traded from the online website and became the leader of the world business (CBC news).


Essays Related to Enron – The Smartest Guys In The Room

1. Enron

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2. Enron

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3. Enron

Over sixty percent of the 401K was made up of Enron stocks. ... THE COLLAPSE OF ENRON On November 29,2001 the Wall Street Journal ran an article"Running On Empty"-Enron Faces Collapse. ... It is also reported that Enron didn't pay federal income tax for five to six years.Some say Enron triggered K-Mart's bankruptcy. Enron has filed for Chapter 11 bankruptcy. ... People in Enron Forst let us discuss the major players at Enron.Kenneth Lay was Enron Corporate Chairman and chief executive. ...

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4. The Fall of Enron

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5. Enron

Another issue arising from the Enron case is the clarity of roles and responsibilities of directors. ... Enron was such an example. ... The ultimate failure of Enron may be the lack of "management ethics". ... These people maintained an illusion of Enron's financial health. If Andersen had blown the whistle on Enron's financial transactions, Enron may have been forced to keep its debt from spiraling out of control. ...

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6. Enron

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7. Enron Scandal

Enron used a "floor-offset" arrangement to reduce its pension expense. ... Enron had ties to Chewco Investments LP and JEDI. They were classified as independent entities on Enron's financial statements. ... These were deliberate acts to improve Enron's financial statements. ... Especially when it's on such a large scale as this Enron case. ...

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8. Enron

In just a little over 15 years, Enron grew into one of the US's largest companies. ... As predicted, the review went over favorably for Enron. On August 14th, 2001, Jeff Skilling resigned from Enron as its chief executive of Enron and Kenneth Lay retook the position as chief executive. ... With Enron's employees trying to pull out, Enron put a block on their employees selling their stock from within their pension schemes. ... On December 2nd, 2001 Enron filed bankruptcy. ...

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9. Why Did Enron Collapse

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