Submitted by:
BB14021 (M) Aqsa I ftikhar PUGC
Case study on ENRON Submitted to: Sir Adil Bilal lecturer PUGC
ENRON Scandal What is ENRON
Enron carporation was an American energy commodities an service compnies based in Houstan Texas US.
From a pipline company in 1980 Enron grew into worls largest energy trader using the internet to buy and sell the natural gass and electric power supplies form utilities and indusrial power uses and helping them hedge against pluctuations against power price
Founded : 1985 in Omaha Nebrasca US
Headquater : Houstan US
Founders : Kneth Lay , Jeffry skilling
Enron employed 20000 staff members amd was one of the most major electricity ,Natural gass, communication pulp and paper with nearly claimed revenew of $111 billion..
Enron formed by merger: Enron was formed by a merger between houstan natural gass an
On 04/23/2016 at approximately 23:15 hours deputies discovered a vehicle parked on the bridge that goes over the Ninnescha river, in the 800 block of E. 110th AVE North Sumner County, KS. the vehicle matched the description of a vehicle that was seen leaving the area of a verbal disturbance with shots fired. Deputy Coon went and made contact with the driver as I gave the vehicle information to dispatch. The vehicle was a white Chevrolet truck with Oklahoma tag of 541KQY VIN of 1GCGC29R5VE127727. After the vehicle information was given to dispatch I walked up to the passenger side door and began to look inside.
Goal 1: Phillip will improve his behavior at home and in the community. Phillip has not returned home since his elopement on Friday. Phillip 's mother reported, "I was on my way to take him to Lakeview to serve his suspension when Phillip got verbal aggressive; therefore, I told him to get out." Phillip called his mother the B word and threw a rock at her car when they both calm down Phillip refused to get back in the car as well as refused to wait for IIH team member to pick him. The IIH team members informed the team after the incident occur everyone went searching for Phillip at 3 different times.
During the times, Ida Tarbell, muckraker and advocate, dedicated her entire life to exposing these methods in the case of Rockefeller’s Standard Oil. What she concluded was that “John D. Rockefeller and his associates … fought their way to control by rebate and drawback, bribe and blackmail, espionage and price cutting” (Tarbell). Some of these may seem beneficial, such as rebates and price cutting, but their reality is much worse. Rebates were only available to Standard Oil, not to any smaller businesses, discouraging entrepreneurship, innovation, and overall advancement in the oil industry. In addition, the use of this saved money to cut prices only increased Standard Oil’s profits and reach, making them exponentially more powerful, and making the market that much less competitive.
Blue-chip companies are spending 3.1 Billion Dollars to get their current employees remedial training, and respected employees at these companies are typing at a level that is extremely unacceptable. If you even began to read what they have typed you would be in shock. In “What Corporate America Can’t Build: A Sentence,” author Sam Dillion uses many examples of poor writing skills seen in corporations to show executives the problems caused by incomprehensible writing and to enlighten the powerful executives of ways to fix these problems. Sam Dillion is an expert journalist and national education correspondent. Some of Dillion’s few credentials have been a two-time Pulitzer prize winner, he has worked for the New York Times for more than 13
Rockefeller and his business partners at Standard Oil (then called the South Improvement Company) began to buy out all of their competitors at extremely low rates, since they could no longer afford to stay in business (Tarbell, 70-97). Rockefeller and those involved in his monopoly were able to profit from the affair. Oil drillers, small-time traders, and anyone who dared speak against the tyrannical deal were unable to compete (Bryan). Tarbell writes that he was “unhampered… by any ethical consideration” and that he had obtained the companies “by assault” (102-103). This was not where Rockefeller’s reign of terror ended, however; it was just where it began.
The Impact of Big Business in the United States during the Late 19th Century The late 19th century became the age of big business because of horizontal integration, laissez-faire, monopolies, and trusts. Andrew Carnegie, John D. Rockefeller, and Gustavus Swift influenced the rise of corporations. Andrew Carnegie created his own iron manufacturer and refined iron into steel making him a top world producer. John D. Rockefeller was the king of petroleum products and pioneered horizontal integration. Gustavus Swift pioneered vertical integration and invested in refrigerated cars.
One example was the Credit Mobilier scandal where major stockholders of the Union Pacific Railroad formed the Credit Mobilier company and sold their shares to influential congressmen. These executives essentially hired themselves and stole taxpayer money, a very lucrative scandal. Scandals like the Credit Mobilier were widespread and executives from many other railroad companies often stole from their own companies. Many executives would manipulate the rail companies' stocks to profit greatly. Executives would often bribe influential politicians, and work together to profit themselves.
The business world wasn’t the only thing corrupt but the railroads were too. With the railroad industry growing the companies knew they could charge huge rate and gain a large profit. Congressmen were paid off to be quite about the scandal and kept it to themselves. The railroads raised the stocks and were given to well-liked companies.
Enron Analysis Enron is a great play which presents a dry story about business in a colorful and cartoonish way and impressed me with a variety of elements, including video, music, choreography, and dance. This is a play depicts the spectacular collapse of a Texan energy giant-Enron. As an audience, I witnessed how a business empire was built on shadows, accruing debts of 38 billion dollars and finally going bust in this two hours and thirty minutes play. In the following passage, I will describe, analyze, and interpret this play both about its script, including characters and plots, and its production, such as the videos, stage props and customs.
The AIG Scandal 2005 started when AIG management was issuing a press release describing its third quarter earnings in 2000 to the public. The report showed that the premium of AIG was significantly increasing, while its loss reserves was decreasing by $59 million. However, according to many industry analysts, along with the positive earnings, AIG in fact should show an increase in its loss reserves as well. This caused the investors of AIG suspected that AIG was drawing down its loss reserves to boost its profits. The suspicious of the investors has unfortunately led to the falling of AIG stock price from $99.60 to $93.30 on New York Stock Exchange (NYSE).
Sammy Friedman Mr. Di Bartolo Term Paper The Standard Oil Company, founded in 1870, was one of the most notable companies in American history. Its success was unprecedented, and its effects on the American economy and way of business were powerful and lasting. Founded and expanded by John D. Rockefeller, the Standard Oil Company absorbed almost all other oil companies in the country and consolidated all of them under one “trust.” It then chartered several smaller branches in different states, such as New Jersey, in order to monopolize the oil industry and create an oil empire.
Executive Summary Lehman Brothers were an investment bank involved in transactions worth billions of dollars and one of the most powerful investment banks in the world. Lehman Brothers collapsed in 2008 following bad investment in the sub-prime mortgage market and used bad accounting practices called Repo 105 transactions to try and cover up the bad assets. This report sets out the use of the fraud triangle when describing the actions which led to the collapse. The pressure applied on the bank, the opportunity due to the lack of regulation to carry out the actions and the ability of the bank to rationalise their decision making.
Why Goldcorp Will Get Better Goldcorp (GG) has lost almost 38% of its market capitalization this year, and the company’s latest results haven’t done much to improve investor confidence. In fact, when Goldcorp reported its third-quarter results at the end of last month, it posted a surprise loss and missed Wall Street’s estimate by a wide margin. The weakness in gold prices and higher depreciation created pressure on Goldcorp’s bottom line in the quarter, which is why the company failed to report growth despite an impressive increase in the top line. However, in my opinion, investors should not miss the positives about Goldcorp as I believe that the company is quite capable of making a comeback.
Kenneth Lay, Mr. Jeffrey Skilling and the company CFO, Mr. Andrew Fastow .The management level of Enron Corporation had misconduct the code of ethics and fail to performing the duties of a corporation which is telling the truth of the situation of a corporation .Instead , they tried try to hide the truth of their financial status and create a false prosperity situation and make the public believe on them in order to support their shares prices . The misconduct of code of ethics by the management level by Enron corporation has led to the another question – The ultimate responsibility of a corporation towards society ? The ultimate responsibility of a corporation is to gain profit or become a stable economic unit ?
Background WorldCom, once known as one of the most powerful telecommunication organizations of the world, is now studied as a case of a fraudulent company that carried out unethical financial activities to cover its weakening position in the market. After some aggressive investment decisions, the company started to witness huge financial pressure. The management used various forged accounting entries to conceal its weakening position. Cynthia Cooper, Vice President Internal Audit, discovered the unethical activities and raised the issue with the management and relevant departments and received bitter responses. She carried out internal audits in her own capacity with her colleagues and compiled evidence against fraudulent activities.