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Enron Ethics

            Investigations with Enron scandals and how it is believed that the top head businessmen and women of Enron swindled money by improper decisions, which could have been avoided. A mix of bad judgments helped stimulate greed to the executives, which caused millions of dollars to be put into their own pockets. The executives provided false information and did not follow proper codes of the federal securities law. It is believed that the money was manipulated to push the blame onto others until the company collapsed and filed for Chapter 11.
             "Chapter 11 is the reorganization of the process of correcting or elimination factors responsible for the distress of a business enterprise, thereby preserving both the enterprise and its value as a going concern."(Mann & Roberts. p831) "The Securities Act requires that a registration statement be filed with the Securities and Exchange Commission and that it become effective before any securities may be offered for sale exempt from registration. The Act prohibits fraud in all sales of securities involving interstate commerce or the mails, even if the securities are exempt from the registration and disclosure requirements of the Act."(Mann & Roberts. p.948) .
             Enron executives did manipulate the money and make investments for their own benefits. Enron used its power and finances to gain personal wealth and satisfaction until a twist in the plan made everything come to a stop. .
             Many lawsuits have been filed against Enron. These lawsuits include lost of pensions and stock for employees seeking repayment. Another lawsuit claims that Enron was involved in fraud while others deal with security laws and contracts. Enron neglected to report profit losses and instead reported profit gains. These reports show agreements made that were nowhere close to the regulated laws where the mishandling of the employees money was being abused leaving many without compensation.


Essays Related to Enron Ethics

1. Ethics Of Enron

The Ethics of Enron The rapid demise of the energy giant Enron echoed into the community of Wall Street. ... Despite the fact that Enron publicly refers to its Code of Ethics, it's actions state otherwise. ... (Enron Corporation 2001 Proxy Statement, p. 10.) ... Given societal ethics vary based on a given society, the dealings of Enron were not tolerable or acceptable and Fastow, Skilling, Lay, and its auditors were well aware of their dubious exploits. ... Business and ethics should be taught as adjuncts to each other, not as enemies," says Hicks, author of the forthcoming book, Whe...

  • Word Count: 782
  • Approx Pages: 3
  • Grade Level: Undergraduate

2. Enron

Many companies put forth mission and vision statements highlighting their codes of ethics and values, which in essence, identifies their level of consciousness. ... The Enron scandal has lead many question the morals and ethics of the firm. ... As with any law or contract, a code of ethics means nothing unless it is followed. One of the provisions in Enron's code of ethics was their conflict-of-interest provision. ... Daryl Koehn who is the executive director of the Center of Business Ethics in Houston says that "Enron, like many other companies, developed what she calls a "good times- co...

  • Word Count: 1381
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3. Ethics At Enron

Andrew Fastow, Robert Jaedicke, and the Anderson auditing firm all contributed to the eventual downfall of Enron Corporation. ... He did this by requesting that the board suspend its corporate ethics code twice to set up these partnerships. This ethics code was formed to ensure that no Enron employee would be involved in outside partnerships or have any conflicts of interest. ... The members that were local and had better attendance were very cozy with Enron Corp. and had interests and ties that would benefit from Enron having better profits. ... Also, because of Enron policies, the managemen...

  • Word Count: 599
  • Approx Pages: 2
  • Grade Level: Undergraduate

4. What Makes Companies Fail? Enron And Worldcom

Bad business practices and poor ethics, for sure, greatly contribute to failure. Such is the case with Enron and WorldCom. ... As we have learned in the University clases over and over again, ethics is very important to company's success because ethical approach to business sparks investor confidence and consumer loyalty. ... Enron According to Florida Pace Action Report (February 9, 2002), Enron's most recent troubles can be traced to revelations in October 2001, when the company's bad accounting practices emerged. ... When these debts and losses became known, the marketpla...

  • Word Count: 458
  • Approx Pages: 2
  • Has Bibliography
  • Grade Level: Undergraduate

5. Why Did Enron Collapse

Enron's strategic intent was to become the blue-chip energy and communication company of the 21st century through its business efforts in four core areas: Enron Wholesale Services, Enron Broadband Services, Enron Energy Services, and Enron Transportation Services. ... Primary internal considerations are company strengths, weaknesses, and competitive capabilities; managers" personal ambitions, philosophies, and ethics; and the company's culture and shared values. ... Tom Fowler of the Houston Chronicle Enron reported the following example about how an Enron employee profited from th...

  • Word Count: 1277
  • Approx Pages: 5
  • Has Bibliography
  • Grade Level: Undergraduate

6. Why Did Enron Collapse?

Enron's strategic intent was to become the blue-chip energy and communication company of the 21st century through its business efforts in four core areas: Enron Wholesale Services, Enron Broadband Services, Enron Energy Services, and Enron Transportation Services. ... Primary internal considerations are company strengths, weaknesses, and competitive capabilities; managers" personal ambitions, philosophies, and ethics; and the company's culture and shared values. ... Tom Fowler of the Houston Chronicle Enron reported the following example about how an Enron employee profited from th...

  • Word Count: 1262
  • Approx Pages: 5
  • Has Bibliography
  • Grade Level: Undergraduate

7. Enron and the Sarbanes Oxley Act

Before a person can understand the true affect and changes brought about by the Sarbanes Oxley Act, they must first understand the details of the Enron scandal and how Enron's executives falsified their financials in order to compare the pre-Enron vs. post-Enron eras of corporate America. ... The company seemed like a healthy giant, but behind the curtains, Enron's' executives, filled with bad business ethics and greed were manipulating the company's financial statements to hide its debt and overstate its profits (Jickling). ... The collapse of Enron was undoubtedly due to...

  • Word Count: 3410
  • Approx Pages: 14
  • Has Bibliography
  • Grade Level: Graduate

8. 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. ...

  • Word Count: 1015
  • Approx Pages: 4
  • Grade Level: Undergraduate

9. 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. ...

  • Word Count: 1748
  • Approx Pages: 7
  • Grade Level: High School

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